Bitcoin Crashing

Well it has been about nine months since I was last here blogging and quite a bit has happened. The little Bitcoin I had is worth quite a lot less than the purchase price. However if I were not convince that Crypto will be the future I wouldn’t still be in it.

I’ve been around a while, I was there for the late 80’s crashes which took a third of my Super (401k US), again in 97 a another substantial hit. Leading up to 2000 we were all feaverishly updating BIOS’s to stop the end of the world by the Y2K bug. Y2K came and went no end of computing came, but ironically at that time was the DOT com bust and of course the internet they said is no more than a fad going spectacularly wrong.

1995: "I predict the Internet will soon go spectacularly supernova and in 1996 catastrophically collapse." — Robert Metcalfe, founder of 3Com.

But it didn’t, now I’m not saying that Crypto doesn’t have its problems it certainly does, but to say that this current correction is the end of Crypto well its the same old story, it won’t be. That not to say many people are getting financially hurt in this process, I feel for them. But this too will pass.

Crypto will need to become a stable environment before the average Joe trusts it, and there will be many people saying “never again”. Many years ago I was hoodwinked out of 50K by a friend, at the time I said I would never invest again, but I got over it and I started investing again.

The truth is it’s all a learning exercise some you win, some you lose, but here is the thing I’ve learn in Tech. Eventually the best technology wins, people will argue with it, tell you how it’s going to fail, but if that underlying technological premise is better than what it is replacing, hey it’s s no brainer.

Crypto’s here to stay, It will be a few years before it recovers properly and people start trusting again but they will.

Hope you enjoy, have a great week and remember “it’s not over until it’s over”