Hodor, HODL the door! A little bit of optimism you miss so much right now
Aloha! Have you sent your CV to your local KFC? Made a laser removal of your Vitalik tattoo, and peeled off Nakamoto lettering from knuckles with skin? Not yet? Then don’t be in a rush to do it, everything will be fine.
Yes, at first glance everything is really bad. Over the week, Bitcoin’s capitalization fell by almost $15 billion, and the exchange rate fell by 30%. The last time main cryptocurrency of the planet showed such indicators ($80 billion and $4500 accordingly) in past year’s October. But back then it was growth. Now we see only bloody red ratings.
There is a noticeable decadent mood in social media. Here and there, you can hear the calls for capitulation.
The smarticles who didn’t put a cent into the crypto but like to say with a meaningful look that these are the same tulips and dotcoms are creeping out of the shadow again. There is no point arguing with them, especially when everything falls down. But we can tell you, our dear cryptophiles, why you need to HODL 🙂
1. ETF will bring new investors for the crypto
You’ve probably heard that the SIX Swiss Exchange (the fourth largest stock exchange in Europe, FYI) is launching the Exchange Trading Platform. Now, the capital owners who didn’t know how to buy crypto or couldn’t do it for some reasons will be able to buy reliable organization’s stocks (the ETP itself). With these funds, its employees will purchase BTC, XRP, Ethereum, Litecoin or Bitcoin Cash ABC, put the currency in their safe deposit and begin to manage it wisely (big data, top traders, etc.). They will charge only 2.5% a year for these services. Certainly, the product and its analogs will bring new investors to the market. And that will have a beneficial influence on the market itself.
2. Lighting Network improves and scales the cryptoworld
In December 2017, developer Alex Bosworth refilled his mobile account using the Lighting Network. Last February, the network already had 385 nodes. Now there are 4111 of them, and the amount of bitcoins engaged in transactions has reached 420. The rapid growth of LN has begun in the past few months. More and more people have experienced the benefits of using the network. It shows that the cryptocurrency world is evolving and scaling. And that means it’s not a bubble. By the way, you can ask haters what innovations the banks have offered them recently? Cashback or better deposit conditions? LOL
3. Natural selection eliminates greedy bums and gives a chance to rookies.
Remember how a year ago people were kicking themselves for not buying Bitcoin for $ 4,000 and even scored some, when it rose up to $ 20,000. And looser web-designers and salespeople spontaneously were turning into project managers and PR specialists for shitproducts of any kinds. Fancy conferences, peated whiskey, Lambos on credit. This glorious guys’ Walpurgisnacht lasted for a long time, but now it’s over. The morning was hungover, evil, and put everything on its places. Those who understand the importance of the Blockchain and crypto ain’t going nowhere. They stay on the barricades because the revolution is not over yet. And those who only saw it as an opportunity of beneficiation has booked themselves a flight back to the fiat world and lawsuits after the ICO. Let’s wish the farewell. To the Moon will come only to brave and tenacious guys.
4. World governments can no longer ignore cryptocurrencies
Yes, yes, all these politicians and bankers are jerks who want to control us and our money. And decentralization is freedom, mobility, and globalization. But even such desperate cases like El Petro, сryptolira and CryptoRuble come in handy for the Blockchain’s scalability. Enormous India has adopted a legislative framework for the cryptocurrency. All these facts state that crypto is a real and useful innovation. Not going to polish bronze on the Titanic with Dutch tulips.
As for our beloved ICOs, even here the bear market must have a beneficial influence. Check out the charts of funds raised by startups by months.
People are getting smarter. They begin to evaluate prospects and risks soberly, and won’t give their hard-earned coins to some crook. That’s great!
To sum up, there are no serious reasons for panic. Technology is evolving, the number of people wanting to use it is growing, and the exchange rate won’t fall all the time. Our dear cryptophiles, remember to keep putting one foot in front of the other.
People have panicked. But there’s no fucking need. We’re in a bear market. They suck, yes, and not like a hooker with no teeth. But I’m 73 and have seen this dozens of times in many markets. Bear markets are like Winter. It’s always followed by a glorious Spring. Fucking relax.
— John McAfee (@officialmcafee) November 20, 2018
– People feared electricity
– People feared first train
– People feared first plane
– People feared the internet
– People feared hedge funds
– People feared Bitcoin
People fear what they don’t understand. Don’t get caught on the wrong side of history.
— Pomp 🌪 (@APompliano) November 17, 2018
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In blockchain we trust!
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