Is it my turn to leave the crypto world?

in #steemit3 years ago (edited)

Since last week, this is the sentence which has been on my mind. I started my investment in crypto using the Steem platform some 7 months ago. It was during this period that I started following the news of the crypto world. So many news around the world causing the crypto world to take a negative hit.

(Source: here)

I have been getting many confusing thoughts and to clear my mind, I am pouring everything out so that I can sit back and reflect more deeply into my future actions.

What is making me leave?

We are having major governments like China and India who are cracking down on cryptos. They are implementing strong policies with China going to extreme by including crypto transactions in it's great China Firewall. For those who don't know what it is, it is a firewall implemented by Chinese government itself to filter what is coming and going out of China internet infrastructure

India is planning to make cryptos illegal in the country after the last week's parliament meeting. India is fearing cryptos as a way for money laundering and tax evasion which quite frankly has been going on irrespective of whether cryptos existed or not.

Banks like Lloyds in UK, Virgin Money and JP Morgan's Citigroup have started to prevent buying of cryptos using their credit cards. They are rendering access to the crypto world even harder and with this, it is going to be even harder to get the money out.

Today (6th February), the US government committee is going to give its views on the crypto world in the US. Are there more regulations coming towards Bitcoin? Will US follow all other major powers and put a brake on the crypto craze? Will the crypto world come to ashes as more and more governments decide to exert bans. The only power remaining silent so far is the Europeans.

(Source: here)

There are many card issuers who were providing VISA cards for withdrawal of cryptocurrencies using regular ATMS. There have been many crackdowns by VISA and now many exchanges are facing a major problem and people having cryptos are having difficulties removing their funds. Will everything be locked up online with no way of investing or removing the funds? What would be the use of the digital currencies then?

Bitcoin has a long story of being associated with the black market; arms dealing, terrorist funding and many other such illegal activities. I understand that governments are trying to close the doors of such activities but yet with so many stories around that they are themselves funding such groups. It is all a big confusing story in our current world. Every act of violence have been existing since the dawn of mankind and yet why did they not ban arms manufacturing altogether? Why not ban money from the beginning? Why only cryptos? Because they don't understand it?

The media is showing one thing, online we see another version of the same story and governments are giving another statement. No parties who are there to keep the population well-informed and educated are working perfectly. Corruption and power hunger people are destroying our world. We are just sitting back and stacking on whatever we can just to survive.

Only after normal people move above survival that will they be able to look at the bigger problems the world is facing. Maybe governments know this and don't want to end poverty. The motto is keep people running for wealth and food that they won't have time to really see what is going on in the world.

(Source: here)

There are many big and intelligent investors in both the crypto world and other markets but we also have others who are sacrificing what they have in the hope of a better future and then all these things happen. If this is not going to scare small and new investors then what will?

Many says that investing is not for the faint heart but if you look at it the other way around, we have a family to provide for. We cannot afford not to have a job or a regular source of income. So many people are just barely surviving. Before we were storing money in savings accounts, fixed deposits and bonds but these are yielding so low interest as compared to inflation that it is a past idea that we can grow our wealth with such traditional forms of investment. Even what is coming as new is not being help by governments but instead, they are trying to underpin its growth.

Why I want to stay?

First time I heard of Bitcoin was in 2011 when I was in the UK. I read a bit about it but didn't give much attention to it. After my studies, I went back to my home country and continued with my life as usual.

Fast forward 6 years and in June 2017, I joined Steemit. I needed to make some investments to ensure that when I retire, I have something to stand upon. I have my regular savings but when we think of inflation and the expensive future ahead, a source of investment was mandatory.

I was looking for passive income online and then I saw one video by @pressfortruth on YouTube who mentioned the Steemit platform and the Steem blockchain in general. I started my investigation and it did not take long after that to create my account.

I started with zero investment with my account worth only $3 when I started. After 7 months, I have an account which is worth more than $2000. If we do the maths, I have been earning on average $300 per month and in my own country currency, this is worth 35 times higher! This is more than the average pay of a person in Mauritius. $300 per month is the salary of a median person and I am getting this as passive income.

Steemit has allowed me to buy some Bitcoins and to play around on the market. Today I also have Ethereum, ZCash, Ripple, Bitcoin Cash, Bitcoin Gold and Ethereum Classic. Though not much, I have got $1000 worth of digital currencies on my Bittrex wallet and all of this out of nothing. 

Well out of nothing is a simplistic term. I have invested my time and energy in those 7 months. I have sacrificed many outings with my family, friends and partner to reach where I am today in the crypto world. I am investing my time and energy now so that in the future, I will get them back. As the saying goes, Time is Money and Money is time. Right now, I am using my time to make money so that when I am older and wiser, I will be able to convert that money back into time for me to spend it wisely.

I am a very shy person. I have not written that much in my life except dissertations and projects for my Bachelor and Masters Degrees. Yet all my posts combined till now, I have written more than I have during perhaps my entire life. 

I am getting the opportunity to write and express myself in so many different ways. Sometimes the payout doesn't matter. Having at least one person who reads it completely and leave a meaningful comment is more than enough.

In real life, it is hard to get everyone to listen to what you have to say. Your partner is tired, your friends are not interested in your views or your parents just don't understand it all but here we can express ourselves. What we have kept in our heart, we can publish it to the entire world without being judged. This is the reason why I don't use Facebook. I do have an account but to talk to people and not share my views. Last time I changed my profile picture was in 2012 just to show you my activity on Facebook.

I am running the Weekly Lotto Game and the Science challenge which has allowed me to make so many friends and build a follower list. This is something I never did in my life. I never new I would get so many people to follow me when I started. My target when I started was 1oo followers by the end of December 2017 but by that time I have around 700. This has showed me that there exist people who love the way I think and like what I write about.

I am no more alone in the world. I do not have many friends and I am not a very social person. Steemit has liberated me by allowing me to meet like minded people and see the other side of other people and what they do. The world just become smaller with all the travel stories of other Steemians. This is helping me plan my holidays and make a list of places I want to visit.

Lastly, crypto is really new to my country and there is no way for me to get any of my investment in or out. This is one of the main reason that I did not invest much fiat money into crypto. Destiny knocked on my door and I arrived in Poland. This is the sign for me that this is not the work of chance. I am supposed to be here. Apart from getting the chance to visit Europe, I am able to get take full advantage of the crypto world. I now have the ability to invest and to cash out. Will crypto be paying for my trips in Europe? This is what I am hoping for!

Conclusion

It is clear that most people and institutions, including governments, are scared of the blockchain technology. We add this to the advances in quantum computing, we don't know what the world will look like by the end of the year. Technology is ripping our reality at an exponential rate.

Keeping up with it is the biggest problem as we do not know what technology will make us discover more. With the @steemSTEM community at CERN, we know that there is an upgrade going on there and I don't know what they will be discovering next and maybe take the attention out of cryptos, so that the latter gets some time to develop peacefully.

After reading this post some 3 times, including the previous paragraph of the conclusion, I am planning to go with cryptos for the longer run. I know there are many governments in Europe planning to go cashless and will probably make cryptos available publicly. In some 10 years time, maybe I will not be required to find a way to convert to fiat as I can convert to the digital form of every currency. I believe it is time to be stacking everything up wisely.

Maybe Bitcoin or Ethereum will not be here in 10 years time and in this way, I will need to keep following the news and keep renewing by investments in the digital world. I am from a software development background and change is always happening to accommodate for new laws and regulations. In 10 years I hope to be FREE!


Want to try your luck? Why not play the Steemit Lotto Game on this post to change your mind: Steemit Lotto Weekly # 16 - Minimum Pot Size 54 STEEM!!!!

Are you a science fan? Why not try your knowledge with the quiz: Science Challenge # 4 - Can you solve this computer logic?

Good luck to everyone  ? 


Don't forget to check if you are a winner every Saturday and Sunday at around 19 00 (GMT)

(adatpted from 3D Lines Steemit Logo Reveal)

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Upvoted and Resteemed by the MAP-AAKOM community.

Read the corporate and government FUD carefully, and cross-reference with other sources - they love the tech but hate the freedom of the individual.

Thanks for the upvote and resteem!!

They are banning cryptos and yet doing research on the blockchain!

Really cool of you XD

I cannot add anything valuable here, since this is probably the most interesting post i've ever read about crypto-currency. Because it's written on an emotional level, not a nerdy one.

Really glad that you saw the emotions in my post. I was just letting myself go :)

To the question in your title, my Magic 8-Ball says:

Yes definitely

Hi! I'm a bot, and this answer was posted automatically. Check this post out for more information.

excellent post, extremely well-written...thanks for sharing your perspective!

Thanks for the support and for enjoying my post XD

I don't know what will be in 10 years, but I just came the party (and I read the post completely:)

Haha!! Enjoy the party! It is worth it XD

Thanks for reading the post completely :)

Like you I am not worried that crypto coins will be the future. You mention China and India taking steps to make them illegal. I think that might help these countries in the short term but will backfire in the long run.
Also here in Switzerland the government wants to support further research and development of blockchaintechnology and crypocurrencies. They want us to become the crypto country (we already have the „crypto valley“ in Zug). So no. I am not worried of my personal investments.

That's exactly what I was thinking about.
I'm not really worried because in the long run it will survive, like you said.

You are really lucky to be living in Switzerland!

Your country is really awesome for embracing cryptos completely XD

The greatest adversary the crypto world is facing are financial institutions, which are afraid of a crypto takeover. They influence governments, even back here in my country Nigeria.

This fear is driving the market nuts and I feel is the main causing for the high volatility!

Coins mentioned in post:

CoinPrice (USD)📉 24h📉 7d
ATMSAtmos0.064$-14.99%-45.19%
BTCBitcoin6955.270$-16.4%-38.05%
ETHEthereum697.951$-16.97%-40.5%
STEEMSteem3.304$-14.68%-42.61%
XRPRipple0.692$-16.5%-47.33%

AWESOME article! Best one I read all day for sure, maybe all week!
Loved this part:

The motto is keep people running for wealth and food that they won't have time to really see what is going on in the world.

You wrote so many things that hit home I can't even remember them all, lol.. like how you have found like minded friends on steemit, and how you saw steemit as an investment for your future.. Just from reading this post I know we have a lot in common..
I only wish my upvote was worth more cuz you deserve it!

Thanks for the great comment and I really like that we share the same views around the crypto sphere :)

You got a 14.36% upvote from @postpromoter courtesy of @pisolutionsmru!

Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!

Be the me to say something.

Help #follow this account.

On the help of his I say thank you very much.
@blogermaster

Coins mentioned in post:

CoinPrice (USD)📉 24h📉 7d
BTCBitcoin8362.170$2.46%-8.13%
ETHEthereum816.157$-0.89%-21.09%
GMTMercury Protocol0.065$-4.46%7.98%
STEEMSteem3.804$-1.38%-20.83%
XRPRipple0.768$-0.48%-20.41%

Great post!
[The motto is keep people running for wealth and food that they won't have time to really see what is going on in the world.]
I totally agree with you on that one. As for China and India, I've experienced their firewall and I do believe when there is a will there is a way for the people. As well, I do know there is something in the works for steem to have an offramp within, which would work on a system of trust.
Appreciate your post, I think I've mentioned to you before that I too am not a facebook person as I am very private. I too find it shocking that I am posting and commenting :)

Argh, I've never figured out how to start and end a markdown quote. If I use > it never ends lol. I'm sure I'll figure it out one of these days :)

Thanks for the great comment!

We vote for governments and yet they are the one taking decisions against us :(

Hi @pisolutionsmru reading your post now and to be honest the same line of thought crossed my mind when the Dutch tax send me a message i have to pay tax over my bitcoins worth I was done... from a low buy-in of bitcoin working the exchanges for months via altcoins to get a higher return and then finally when I managed to learn and succeed to win the Dutch tax is going to take away my profit i worked for?? It is not real money, bitcoin is a fad but hey please pay us tax ? I openly purchased my bitcoin via an official broker as I did not want to swap money on the corner of some dark alley...
By the way... where are You hanging out lately??? mis Your drone vids and your company but I do see You keep supporting me good friend. kind of miss You hope you are doing well. Nic.