After extremely careful consideration regarding the future of not only the world economy, but life in general, I've decided to sell all of my Bitcoin for physical precious metals. How could ATHERZ of all people make such a stupid decision to NOT diversify all of his investments?
Because frankly, all of this buzz in my head about if "Bitcoin is the ONE" and "Are the ETFs going to rise the price" and "Is Litecoin the wave of the future" has been triggering near-constant confusion and debate.
I took a step back and realized -- what game is this, that my wealth depends entirely on the future, on ETF decisions, Gemini Exchanges, whatever Charlie Lee or Jared Tate or Wall Street or the SEC does to generate hype? Does swing trading Bitcoin count as something I should be spending hours of my time on researching, or are we just being strung along for more news stories, dumping our cash into digital tokens (with no real backing) on the assumption that fast money's coming?
Is this even a healthy habit?
It's not an abnormal thing for people to care intensely about their finances. Let's take a look at some facts, though, and see if it's worth the gamble:
- The Bitcoin price is manipulated. A lot of us can agree on this.
- China owns the vast majority of the mining power, over 51%. If China wanted to, they could destroy Bitcoin by infiltrating the blockchain, anytime. The founder of Digibyte saw this.
- The markets are topping. Real Estate is undergoing issues with lack of buyers. Amazon is nearing a 1 TRILLION dollar market cap.
- Bitcoin uses an exponential amount of energy just to keep going. It uses more energy than entire countries with millions of people, and it's not clean nor sustainable in any way, with China burning through coal and thousands upon thousands of processors and graphics cards. ALL proof-of-work tokens are like this, and you're starting to see Litecoin get under the pressure of ASIC miners too.
Why should I put my money into an unsustainable energy suck, that with every transaction most of the fees go to China, promoting their nature-killing fuel burning incentives, and whose worth is absolutely uncertain outside of looking at a constantly changing ticker?
Chris Duane, Lynette Zang, Peter Schiff, Jim Rickards, and other well experienced market analyzers seem far more reliable than Bix Weir, BITCOIN BEN, and whoever the fuck was on Dogecoin when that exploded.
Like are you kidding me? Fucking Dogecoin gets added on Yahoo Finance and blows up 50%, doubles its price over a week more than any other coin on the market. This was one of those things that had me throw in the towel. Not Digibyte. Not EOS, or NEO, or SALT. A nothing-coin made as a literal joke. (I'm truly disgusted, don't laugh.)
But anyways, I wish I could say to people confidently that I'm a crypto trader and investor. The actual world of investing is a full-time exercise, with many of the people not only having thousands of times more capital than I am (many are already financially free), but it takes a lot more than simple speculation on news stories that depend on chance. The world of trading, too, is an active occupation that involves countless hours of watching the markets, playing the charts, and as much as I wanted to build a business around this idea, I see that I haven't the scope nor the patience to sit down and scroll through other people's accomplishments without having great progress on my own.
The best case for me personally would to unplug from this digital reality and focus on my own skills and problems, and cryptocurrency nothing-coins have proven to be something that should stay in 2017. Security tokens, the much larger projects for digitizing assets, those are FAR more interesting but it seems like that space will mostly belong to seasoned, legitimate investors and agencies.
It's like Bitcoin is a drug. Waves of up and down, questions and answers that satisfy the day. It's a suck on my time.
Knowing that the dollar is effectively dead, and wealth should be saved in something more static, I can let my cash work for me by buying the most undervalued asset in the real world. $14.50/oz silver when it should be like $1000, upon a worldwide fiat currency crisis? Something I can feel and touch and know the value of, and will have GUARANTEED growth over the next few years?
I just want to chill, stop worrying about the things outside of my control, and enjoy my physical wealth. Crypto doesn't give me fulfillment nor the motivation to get up and move every day. Projects, health, and business associates do. :)
Not to mention all of the awesome designs, specifically my African ounces, and easy liquidity.