Cryptocurrencies are young. They are babies. Don't be mad at them when they stumble and fall. They are are only learning and growing. It will be a while before they run on their own. Stick with them and persevere; hopefully the same way you did with your own kids.
Cryptocurrencies are babies. Forgive them. It was only a dozen years ago that the world saw the outbreak of the Global Financial Crisis. The GFC was the unholy mother that saw cryptocurrency come into being.
Satoshi Nakamoto, the creator of Bitcoin, watched the criminal banking cartel almost bankrupt the world economy in 2006. He envisioned a world where the banking and economic systems could be overseen by everyday people like you and me, instead of by corruptible billionaire fatcats.
Yes, cryptocurrencies are babies. Although we have had cryptos for a decade, this ten-year “history” is paltry when you compare it to more than two hundred years of stock markets, and almost four centuries of the property market.
Although blockchain technology is already being picked up by large banks and world governments, it is still early days. It will be a while yet before all your banking, medical and legal issues are run on government-mandated blockchain. As they say on the old shampoo commercials: “It won't happen overnight, but it WILL happen...”
Crypto Takes Over The World
The cat is out of the bag. Enough people know about blockchain and its anonymous immutable alternatives. Banks and governments are feeling the pressure from the people. We the 99% are demanding transparency and reliability, instead of the hidden backrooms of the criminal bankers who gave us the GFC. As blockchain is more widely adopted, many cryptocurrencies will rise in value. Many will rise, but not all. This is why it is important to diversify your investments.
Almost everyone says they wished they had invested into Facebook, Netflix, Amazon and Apple, “back in the day”... Yes, of course, it would have been great to even have $1000 in each of those companies back when they were a few pennies each...
But, remember that there were many hundreds of other companies which looked just as promising, if not even more attractive, “back in the day”...
You could have invested into Apple and Netflix few decades ago. You could be a millionaire right now, using the magic of “selective history”...
But it's just as likely that you could have invested into Yahoo in 1999 for $120 (almost twenty years later, you would have lost 75% of your money).
Or you could have invested into the BlockBuster behemoth twenty years ago when it was around $30. Right now, it's worth less than one cent. If you had invested $10 000 into Blockbuster video “back in the day”, you would now have around $2.00 now; and you'd still not have enough for a drink to drown your sorrows.
How to choose a great investment
Some of the most popular and promising companies from twenty years ago are now trainwrecks. And some of the companies which were relatively unknown are now worth billions.
The point is: nobody has crystal balls. And that's why you must diversify.
In BostonCoin-land, we have had mixed fortunes, as have all crypto investors. Even the best and brightest institutional investors (and those who charge a small fortune for their cryptocurrency investment newsletters) have made losses up to 85%. (We know, because we also subscribe to their newsletters).
But don't lament the apparent losses. Because we are dealing with babies here. Cryptocurrencies are in training. They may stumble and fall, but they will most likely rise again. You just have to give them time, diversity and a chance to allow the blockchain technology to spread. And you have to be in there early. Because nobody says “I wish I had bought Apple stock next week...”
Get in early. Diversify. Stay forever.
We have suggested many times that "crypto is a marathon, not a sprint", and it makes more sense to watch the calendar, not the clock.
This is a great recommendation for staying cool and calm, and also a great investment recommendation: if you have a good asset, hang in there through the wobbles and stumbles.
With a lot of hindsight, in crypto-land, as in stocks, it can seem easy to make 5000% gains, but if you then have a 100% loss, the previous gains are totally meaningless. Use the C.O.I.N. system.
How did we go this month?
Basic Attention Token 109%
#BostonCoin August 2018
Cryllionaire Crypto Chat
No CEO interview during August, as everyone in the crypto-land has been very busy. We are currently pursuing interviews with a few CEO's of a few ICO's, as well as a cryptopreneur who has united retailers, international tourists and huge sections of the crypto community.
Please get in touch with us via email or phone if you would like to suggest a crypto CEO interview or an ICO for us to profile. Meanwhile, check out the past interviews here and share them with your friends on social media. Education is the critical component for assisting the crypto community to unite, empower and create change.