🍒 They Call Me Crazy For Investing On Cryptos
I have talked to some friends and coworkers about Bitcoin because they asked me questions about it, otherwise, I wouldn't have said anything.
And you might ask "But why wouldn't you?"
IT'S COMPLICATED
Well, for one I'm a very reserved person, I share more about my life here on Steemit that in my workplace, because here I don't feel like I'm being judged, on the other hand it's hard to explain to people what cryptos are and when I tell them there is a place where I get paid in cryptos for writing and socializing, it makes it twice as difficult for people to understand and some automatically think it's a scam, which is a shame because they don't even try to see what Steemit or cryptos are all about.
So very few people actually understand what cryptocurrencies are and the people that don't understand tend to undermine cryptos calling them a scam, some of them are just afraid, others are angry because they did not "get in" on time to buy, they are jealous of the people that bought cheap, believe me, there are some people like that.
I was able to explain crypto to a few of my friends who are very smart, but all of them are too afraid of investing in cryptos, curiosly I'm a woman and I have more balls than they do heheheh XD.
CRYPTOS AND REGULATIONS
Since I'm a libertarian I truly believe that cryptos are a way to get more freedom, the bad thing is that the government is looking to regulate cryptos more, they do not like something that is outside of their control.
Weeks ago I was checking the prices of cryptos and I noticed a lot of them going down, then I thought "what is going on?", so I went to Reddit to read the crypto news, right away I found a post talking about what is going on...
Click on the link below if you want to check out the discussion going on reddit about this:
https://www.reddit.com/r/CryptoCurrency/comments/7plldn/dont_panic_the_south_korean_government_has_been/
Turns out that South Korea's largest cryptocurrency exchanges were raided by police and tax agencies for alleged tax evasion, you can red more about it on the link below:
https://www.nytimes.com/reuters/2018/01/10/technology/10reuters-southkorea-bitcoin.html?smid=tw-share
That news really got me down, because other countries are also doing similar things to regulate and control cryptos, like Canada with it's regulations to keep BTC "safe":
New research by the Bank of Canada shows digital currencies need regulation. Those are the findings of the institution’s researchers who took a close look at how bitcoin can evolve. The group feels cryptocurrency needs regulation to be “safe”. Moreover, there is a growing concern over how bitcoin can be counterfeited. A very strange report that seems to be drawing very unusual conclusions.
...It seems evident Bank of Canada is concerned about bitcoin becoming a threat to their business, rather than anything else.
source: https://www.newsbtc.com/2017/02/20/bank-canada-report-states-bitcoin-needs-regulation-inflation
If you would like to read more about cryptos and regulations I suggest to check out this short article:
2017: A Defining Year for Cryptocurrency Regulation
https://www.coindesk.com/2017-in-review-how-the-world-regulated-crypto
I HAVE A DREAM
I really do hope that we can help cryptos survive this wave of regulations and I believe people will overcome their fear of cryptos once they see their value, that they can be used to buy stuff, slowly but surely they will accept cryptos are the future.
QUOTE OF THE DAY:
“I think the internet is going to be one of the major forces for reducing the role of government. The one thing that’s missing but that will soon be developed, is a reliable e-cash.”
-Professor Milton Friedman (1999) Noble Prize winner in economics
Nine years later, Bitcoin was born.
PREVIOUS POSTS:
I'm back and WTF happened with the Steem Price?
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"When I'm trading I get
Both excited and scared
With the ups and downs,
But I enjoy the ride."
-@MariaCherries
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I think it is going to be an interesting year. Extensive regulation or banning of cryptos is really not in the best interest of the people or governments imho.
Block chain technologies could really help in many other areas besides just the financial markets. This could be a pivotal time for adoption of these things for better global decision making.