Bitcoin World is Falling Down. Should We Stop Steeming and Investing?
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I have always wanted to experience new things. So, what could be newer and relevant than cryptocurrencies right? So, being a teacher and in line with my life's mission to 'learn and share'
I just had to try to learn more and be immersed with this world trend. And the most popular now are ofcourse being engaged in steemit.com (thanks to @shenchen) and investing on bitcoins.
How did I get myself into this? My ever enthusiastic DIY mom friend @shenchen introduced me to steemit.com. She was so ecstatic about earning while we learn and share posts. Being a trying hard blogger, I was easily persuaded. Who wouldnt want to earn while you are enjoying the thing you do? I get to learn more by reading blogs and share by writing posts. Hey! That is fulfilling my vision in one platform! Isnt it great? So I quickly registered and started out my journey with my introduction post https://steemit.com/introduceyourself/@teacheryuyu/i-am-a-super-star-hero. I was so surprised that it earned about $10 in the first day! I was so encouraged by it.
Then another enthusiast introduced me to coins.ph. I looked up to this doctor and so invested a small amount to buy bitcoins. I earned rewards through their referral program. Wow. Everything in a week.
And then. a DIP. After a few days of investing time and money, a news about the downfall (forgive me for the term, Im just a newbie in all this investment thing) of stock market and cryptocurrencies. The conversion value of SBD to dollars was slowly going down.
I kept checking my wallet in coins.ph and I only see a continuous fall.
I was shaken a bit. And I am sure that lot of bitcoin owners got stressed and maybe even depressed with this dip. A lot has has been doubtful about that the stability of cryptocurrency. They say that it is so risky because there is no one body regulating the value and transactions. And ofcourse there are issues of scamming.
But I am hopeful that the value will rally again. It has to! Not just because I have invested time and money in them but that, I see this as a precursor to Biblical prophecies. In Revelations 13, a prophesy about one currency system for trade is described.Now, some believe that it could be the use of cryptocurrency because of the convenience of transacting between two entities. But we really would not know how this will brought into fulfillment. Some do not agree that it is through the use of cryptocurrency and forsee that it may be something that is much more advance that we could ever imagine. I am more inclined to think that, cryptocurrency is not the one currency system that is being pointed in this prophecy, and we dont have knowledge of its certainty. However, there is a great probability that the one currency system will be an innovation of the cryptocurrency system.
There is much uncertainty about it. But one thing is sure, because of its growing popularity and inevitabolity of being vastly used in the future, cryptocurrencies will be accepted by different governments. As they say, "if you cant beat it, join it."
So, in my simple understanding of things steem dollars and bitcoins - and other cryptocurrencies for that matter - will rise once again. It will reach its stability and who knows be accepted and regulated by government. There is much to watch out for in the future.
For now, there is ablood bath in the crypto market - bitcoin and steem are going down. But it is not a time to quit. I fact, according to @steemining , "we buy low and sell high." Now is the time to buy. There is no lose in steemit. You invest learning. You earn learning. It will rise again in time. So pursue. Post. Upvote. Resteem. Increase your steem power and savings.
I wanted so bad to invest into other cryptos such as ETH, however since the investment I will be putting in is in terms of SBD which has gone down in value too, I am torn. Idk if i should use my SBDs at its current value to buy other cryptos. I do not intend to put my "own" money into any of these but my steemit earnings...
I am not an expert on this and crypto is relatively new for us to forecast based on patterns. maybe we could ask @steemining about it. ;)
we have to pray for this.
seriously, this was supposed to be my way out of debts.
i have read i one of the posts that it might go up by may, basing on the trens for the past months. kee the hopes high. meanwhile enjoy posting! :)
You're not wrong about it rising again, but I think based on the biblical prophecy, there may be other coins that suit its needs. If you are investing in bitcoin, maybe look also to other great projects like powerledger or ethos