Monday, November 13, 2017

The Crypto Revolution



I’m a rebel, in every sense of the word. Anything that defies the status quo immediately intrigues me. This innate defiance is what has led to my fascination with mob movies and any drama centered around crime and drugs. It’s more than the crime and drugs that piques my interest, but the genius behind it all. That desire to win at any and all costs, to stick your middle finger to the man and make that one big payday that completely changes your life for the better. You know that pivotal moment in every movie, where the tragic hero makes that one life-altering decision that transforms his present eudaimonia into unavoidable catastrophe. That’s the moment where I can learn from their mistakes, and, if by any chance fate leads me to a similar cross roads, I will handle myself with much more tact. I’ve learned so much from crime movies – trust no one; the higher you climb, the harder you will fall; and, most importantly, don’t get high on your own supply!

A fascination with the underworld, paired with my own defiance, is probably what led me to the world of cryptocurrency. I mean, come on!  A decentralized currency over which the government is scrambling to regulate, used to transfer money across borders instantly with the capability to use anonymously on the dark web, and, to top it all off, it was created by some unidentified vigilante they call Satoshi Nakamoto? It is the quintessential middle finger to the man (and an amazing plot for a sci-fi flick).  Also, have you all seen the movie Dope yet? I don’t want to spoil the plot for you, but if you haven’t, you need to see it! This movie came out two years ago and made me fall in love with it. It also re-energized my desire to learn more about Bitcoin and other cryptocurrencies. Talk about signals and missed opportunities. *sigh*
 
Admittedly, I’m a little late surrendering to the game, as my comfort zone has been the stock market. It’s not fear, but the desire to preserve my investments, that have caused me to hesitate all these years. Though Bitcoin launched in 2009, and at that time was trading for eight hundredths of a cent per bitcoin, no one knew what to expect. What was this blockchain technology? The argument I’ve had so many times is “real” money vs “fake”. But what money is really “real” nowadays? Think about how many more transactions are electronic than ever before? Think of every time you use your debit card versus cash. How many of your transactions involve “real” paper bills anymore? And even still, what makes that paper real? It’s no longer backed by gold, so is it still “real”? But, I digress, this is a debate for another day. Anyway, who would have imagined that a commodity that was once worth less than a single red cent would eventually rise to over $100 in 4 years and then to over $1,000 later that same year? Or that 8 years later the market would push the price upward of $7,000? Bitcoin is the great financial phenomenon of our time, masterminds. So what are we going to do with it?


I’ve done a lot of research lately, and I am now ready to take the plunge, now that Bitcoin has finally fallen back closer to $6500. I’d like to share some of my sources with you for your own research, and I would also urge you to take a closer look at more configurable currencies such as Ethereum. You decide how far you’d like to go down the rabbit hole, but remember, the more you know, the more you grow. And you will need to do a LOT of reading to familiarize yourself with all the blockgeek vernacular you will find on all these crypto-chat forums. 


Only AFTER you’ve done your research, would I suggest that you head over to Coinbase or GDAX and open up an account. Make sure you buy during a dip (buy low, sell high). And if you are interested in joining the investment group I’m putting together or would like to share your hopes and fears for the Crypto Age, feel free to email me or drop a comment below. 

 

Sources:

Thanks for reading,
Mo