Bitcoin, before criticizing it, people should study it

   2021-03-20 08:03

Bitcoin is flying and has recently passed the $60,000 mark. Since its inception about 10 years ago, it has been averaging an annual performance of over 200%.

And yet it is almost always portrayed negatively in the mainstream media, as something best to stay away from. Italian newspaper Corriere del Ticino recently wrote that regulators need to intervene to curb this craze. 



We often hear people say that this is the classic bubble that is ready to burst at any moment. A bubble that has been going on for several years and in which more and more institutional investors are investing heavily, including financial guru Elon Musk, who is certainly not one to throw money away.

I have a YouTube channel about crypto and I am often contacted by new people who want to know where to buy cryptocurrencies, how to store them, which exchanges to use, what interest rates they offer and what courses to take. There is still far too little information in the press, there is a lot online but it is often confusing. 

For those who use dApps on Tron, smart contracts on Ethereum or DeFi on Binance Smart Chain, it is currently still the Wild West. Furthermore, it is also true that the blockchain space is still poorly regulated and unfortunately there are many fraudsters who exploit the name of Bitcoin

In the past, we have also seen similar phenomena with cash, and there are still many cases of money laundering and fraud, as well as attempts to counterfeit gold. This does not mean that we have lost faith in the banknote or in physical gold.

Learning about Bitcoin to provide a good service

The mainstream media would be doing the community a great service if they would help them unravel the new opportunities and risks that this sector offers today. For example, we often hear that it is better to stay away from the crypto world because of its volatility. And yet there are currently various platforms that offer the possibility of earning up to 20% per year on stablecoins, i.e. coins whose value remains anchored to that of the dollar and therefore stable. These opportunities do not exist in traditional finance and deserve to be made known to the general public.

For those who have not yet understood why Bitcoin was conceived, I recommend studying it because we are facing an epoch-making revolution. In essence, it is about taking monetary control out of the hands of the few, the central banks, and making it decentralized. Because if they continue to print banknotes at will and at the same time decide who to bail out of crises (often only big managers, like in 2008), the consequence is that over the years the traditional currency will become increasingly devalued and the population impoverished, something that is happening already. 

As Ray Dalio, founder of one of the world’s largest hedge funds, says, those who think that the current monetary system can last much longer have not yet fully understood how money works.

Author

Wildcarder

My channel; https://www.youtube.com/user/steekhutsie/videos

My Telegram group; t.me/Wildcarder


Source: https://en.cryptonomist.ch/2021/03/20/bitcoin-study/


Original Source


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin62,657 1.42 % 1.00 % 7.91 %
Ethereum2,343.8 1.72 % 1.93 % 10.81 %
Binance Coin552.39 1.65 % 1.17 % 36.57 %
XRP1.710 3.40 % 6.56 % 55.79 %
Tether1.000 0.08 % 0.14 % 0.01 %
Cardano1.420 3.34 % 1.03 % 12.86 %
Polkadot41.11 2.52 % 2.53 % 5.32 %
Uniswap34.32 1.78 % 4.81 % 9.45 %
Litecoin265.42 2.14 % 2.29 % 11.73 %
Dogecoin0.1270 3.54 % 40.78 % 96.51 %
Chainlink37.52 2.30 % 6.31 % 7.91 %
Bitcoin Cash813.80 1.73 % 9.90 % 22.63 %
Stellar0.6149 2.51 % 6.69 % 14.44 %
Theta Network11.72 1.22 % 4.74 % 0.06 %
USD Coin0.9966 0.64 % 0.45 % 0.33 %
VeChain0.1731 1.12 % 19.87 % 50.45 %
Filecoin165.34 2.54 % 0.24 % 0.30 %
TRON0.1377 2.83 % 9.34 % 10.26 %
Wrapped Bitcoin62,834 1.04 % 0.81 % 8.13 %
EOS7.390 2.87 % 0.27 % 11.07 %