“Bitcoin is just a game…some people play it, while others watch and criticize.”
Nothing is harder to deal with than sliding markets, especially if you are a crypto trader and used to finding gems in the rough. While January has had some good trading days, and some shining stars, it has been overall a bullish market for investors.
With Bitcoin really controlling the price of the altcoins, it is clear that when the price of Bitcoin drops, the monetary price of the altcoins also drop, unless of course there is a strong back-push from investors on a particular coin, which can be used to absorb the price decline caused when Bitcoin declines.
It just goes to show how powerful of an influencer Bitcoin is on the altcoins, which is completely obvious because the coins values are often measured in Satoshi, which is the central measure of BTC. This actually brings up an interesting topic, especially since there has been alot of discussion surrounding the control and regulation of Bitcoin, and to get some understanding of how to move beyond Bitcoin, one must first change the ecosystem.
As long as the majority of the exchanges, payment gateways, and other items associated with the Bitcoin ecosystem rely on BTC as the central unit of exchange, then it will be very hard to move away from Bitcoin as the top coin.
In fact, while we haven’t seen this on the market yet, it may be interesting to have a coin exchange that uses ETH, DOGE, USD, or other pairs, but excludes Bitcoin. So far, almost evert exchange uses Bitcoin as their means of exchange, along with other pairs, but the step towards a less Bitcoin influenced market would be to create exchanges that exclude Bitcoin as a trading pair.
This thinking may seem ludicrous, but there are some advantages to having a BTC-free exchange. First, traders will familiarize themselves with new trading pairs, and not have to worry about Bitcoin transactions and other issues. Second, they will be relieved of all the constraints surrounding the Bitcoin regulation. This may be particularly good for areas in Asia, like China, which have closed many Bitcoin exchanges.
This is actually quite funny, because is the problem on Bitcoin? Or, is it a problem with Cryptocurrency? If the problem is related to criminal activities or illegal use of funds, the law enforcement should consider what these people are using the coins for, what they are buying, and then finding the guns, drugs, or whatever things are illegal. The reality is that people are just extremely jealous, and do not understand the nature of trading.
For example, you can show a person a rock or stick and they may think it is worthless, but if the rock is shiny and the stick is carved into a nice walking stick, then these items may be seen to have some value. A crypto coin is the same way. If you can trade a few coins for a cup of coffee, or to pay someone to design a web page, or buy a computer game, then it is really just a means of exchange, and the people who aren’t being affected should just mind their own business.
That said, the control freaks (those in control) are often left angry and frustrated by Bitcoin and Altcoins because they (really) have no control over their coins, and have to trust a digital system that can be manipulated by market prices, technical barriers, and many other roadblocks, which make Bitcoin very difficult to use in the first place. When I first started writing about Bitcoin in 2014, I became very frustrated because this was also the time when the CAPTCHA buttons came into existence, and my brain felt like it was being beaten down because I had to submit to a computer every time I wanted to make a command. This sort of mentality is just one reason why Bitcoin became so powerful, and ultimately, so powerful. People had to submit to it before they could use it.
In today’s day and age, government’s should be embracing Bitcoin and alt-currencies as it creates an opoprtunity for people to free themselves from traditional monetary barriers, as well as offers plenty of employment and development opportunities in a sector that never previously existed. Power companies, computer and tech companies, and many other industries are thriving because of the introduction of Bitcoin. Many freelance workers, and traditionally poor people were able to find a way to make a living without having to rely on government subsidies, and in many ways it offered a new hope to nations like Greece, Nigeria, India, and other povertized nations that fell by the wayside from extreme corruption.
Nations that are jealous of Bitcoin are the ones that haven’t embraced it. Germany, the U.S.A, Russia, and other nations have created their own coins and made billions of dollars for their countries and citizens, and when another country see this, they think, why didn’t we think of that? Or, why are we so far behind? And then, instead of of anteing up and spending money to join the system, they often find reasons to criticize it, or rebuke it because they are behind the times, and would have to pay a much higher price for joining the game at a later stage, but isn’t this what progress is, and has always been about????
If a nation is not as progressive in its fiscal policy, or monetary practices, then it is not a progressive nation. Sure, some nations choose to be traditional by nature, but history has proved that nations that fail to change, also fail to function, or even exist. While evolution should be not posited to the development of digital currency, it is clear if people want to use the internet, then they are going to have to use digital currency.
It is entirely naive for large governments, and nations to endorse the internet and technical progression without supporting the development of an internet currency, and should be held accountable for not supporting a larger decentralized framework.
When governments started supporting infrastructure developments, cell phones, laptops, and modern technology, they should have been aware that the existence of new and progressive technologies would arise from these initial technologies, that would enable inter-border exchange and international and inter-planetary exchange in new ways never thought possible. And now, to try and regulate this sort of development is really just a sign of weakness, and should be disregarded as a lack of foresight into the future of technological development.
Does that mean Bitcoin is the best coin? No, but nations shouldn’t be hating on Bitcoin because it is the FIRST coin. There are coins coming online every day serving different purposes, and maybe one day, there will be one coin to bind them, but for now, the internet currencies are creating a new place for people to enjoy collecting, trading, doing business, creating opportunities, and above all, having fun. If you aren’t on board, and being a critic, then perhaps it is time to shut your mouth or join the party.
I mean, if you are so important, and powerful, then shouldn’t you be talking about something more important? And if, Bitcoin and Altcoins are at the top of your list, then obviously it is worth putting some work into, instead of whining and complaining about the millions of people that are trying to work to better themselves? There is a word for people who do not work to understand something: it is called LOSER. So before opening your mouth and trying to control something you don’t understand, maybe pick up a book and do some research before letting your emotions get the best of you.
What are your thoughts on Bitcoin? Bitcoin Regulation? Are people just jealous? With today’s falling prices, the only thing they can be jealous of is big losses!!