For obvious reasons. Some people are losing their shit because they are in an extremely hard place; others seem to be relishing the situation.
I get that for a lot of people who went in hard in more recent times, who maybe thought this would be a straight road “to the moon”, that right now might be a moment of extreme anxiety. And I also get that for every reasonably sensible, interested and careful investor there are a hundred “bros” that annoy the fuck out of people, and folks like to see that type of person get their comeuppance.
But I don’t see any difference between what’s happening in the crypto markets to any of the rest of the financial sector right now: it’s all fucked. As an edge case, crypto is much more volatile, and for that reason we’re seeing the kinds of corrections going on right now. But it’s not going to just go to 0. There’s a huge, huge, huge amount of investment that has gone into crypto. Entrepreneur’s have gone in deep. Crypto is being used to pay for goods and services by ordinary people in lots of places across the world. Whole governments have gone into crypto. If we were to put it in terms of a clock, I think we’re still in the first few minutes of day 1 of cryptocurrency.
Whether it ends up being bitcoin by midday, or some other currency, I just don’t see it going away. Like any new technology, there will be bubbles and bursts, but an important thing to consider is that the internet is still here. Transformative technologies take time to become truly embedded and adopted - especially if there’s not an immediately apparent need for them on a large scale.
The “internet” was invented in 1969. I think we can all take a moment to relax, remind ourselves of the actual utility of cryptocurrency as a technology, and move forward with a bit less anxiety and manic energy. As early adopters, we could, potentially, stand to gain a decent return on our investments, but getting into constant a back and forth of buy/sell/is it dead/haha it’s dead does nobody any good.
Like any technology, bitcoin is only as valuable as it is useful. Remember the value of this coin beyond just the fiat value and I think (I hope) you’ll be able to feel a little calmer.
I feel like this sub has of late become less about learning about the technology than become a kind of tech /wsb
It’s not about “ride the wave” or going “to the moon”. It’s about doing your due diligence, understanding what you are investing in, not investing any more than you can afford to lose, asking questions, learning more, and remembering above all else that this is a technology that has a really profoundly positive potential - but like any technology, it’s about how we use, talk, and think about it.
Peace, everyone x
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