Rai-key (rai_key) wrote,
Rai-key
rai_key

bitcoin

Everyone is talking about bitcoin, why not me?
I google the price sometimes two times a day, but the price isn't as important as what it can do for currency exchange.
Not just bitcoin, but other cryptocurrencies. They are revolutionalizing economy. Right now it is treated as a speculative bubble, people buy it hoping to be the next bitcoin millionaire, but they miss the point of what this technology does. Sadly what it was created to do was equalize things, but it appears to not have done that. It still has the potential to do that if it continues to rise. I don't really understand economics, I studied it a little online.

We can now trade with each other instantly if we only agree on which currency is the right one. Of course, right now everyone can trade between bitcoin. Trade can now be international and anonymous. In limiting the number of bitcoins Satoshi Nakamoto made it so there isn't inflation, but there can be deflation.

There are thousands of altcoins, because each sees a flaw in bitcoin or wants to fill a niche need. Some are speedy, others don't have the high transaction fee bitcoin has like iota, but some are just plain weird and may not make it. Originally bitcoin didn't have a transaction fee, but miners added it. Iota doesn't have one at all and doesn't need to be mined.

People are looking to invest and then sell and make a quick buck. Here is the thing, this is a great technology and could be the future of finance and trade. Why throw it away to make money? I have money invested, I want to sell it off and make money, but I am trying to remain calm and remember I believe in bitcoin and cryptocurrency. I invested to help mom pay off her house if I was so lucky, but now I am invested to see the future of bitcoin and cryptocurrency. #Hodling

Now what happened to the me that said I didn't want to have money? Sorry to those who just tuned in, but I did say that and it is bothering me. I am still in poverty from many standpoints, I just hold cryptocurrency. We'll see what happens.
Tags: #hodling, hodling
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