Why Bitcoin Won’t Die |
By Teeka Tiwari, Editor, Palm Beach Confidential
Do you hear that? It’s the deafening cries of all the bitcoin haters out there. I want to show you why it’s critical that you ignore all the bitcoin naysayers… and start getting on board with bitcoin. Believe me when I say it: Bitcoin is here to stay. Not only that, it’s on the cusp of a massive move higher… along with the entire crypto market coming behind it. It’s a trend you’ll desperately want to be a part of.
So today, I want to tackle the biggest objection to bitcoin I hear… that it’s “worthless.”
Ignore the Haters
Since 2011, bitcoin’s been declared dead at least 300 times. Newsletter writers, journalists, and academics have called it a “Ponzi scheme.” Even JPMorgan Chase CEO Jamie Dimon – whose company has been fined billions for financial abuse – has called bitcoin a “fraud” whose value is “probably zero.” Others like the idea in theory, but still have doubts. They are convinced the government will shut down bitcoin and render it worthless. If it were 2013, I would have agreed with them. From 2009–2013, bitcoin rallied from a fraction of a penny to over $1,100… then spectacularly crashed 85% to $185. It looked like a classic “pump and dump” to me. That’s why I ignored it. But then, something interesting happened. Instead of collapsing back to pennies, bitcoin found support in the $200 range. Even after the bubble had popped, bitcoin was still worth billions. This intrigued me because true Ponzi schemes have zero value when they crash. The fact that bitcoin was still attracting buyers even after the onslaught of negative news… an 85% price crash… and universal scorn… said something to me. It said that maybe this asset had real value. At the very least, it told me that further investigation was needed. |
Lessons From the Dot-Com Bubble
I’ve seen skepticism like this before…
Back in May 1997, Amazon went public at the split equivalent of $1.30 per share.
It shot up to $113 during the dot-com bubble of the late-1990s. When the bubble popped, Amazon crashed 94% – to the split equivalent of $5.97.
But again, something interesting happened…
In the depths of the dot-com hatred, Amazon started quietly climbing in price. Back then, I made the mistake of dismissing this action.
My error was buying into the prevailing belief that dot-com stocks were dumb and worthless.
I listened to the narrative instead of digging deeper into the Amazon story. That was a mistake of lazy thinking.
So when I saw the same thing happening with bitcoin, I decided to do something different.
Instead of listening to the skeptics, I asked myself: “Why are people still buying this supposedly worthless asset?”
That’s when I did a deep dive into bitcoin.
For the last 2 1/2 years, I’ve traveled the world interviewing experts, development teams, and venture capitalists. I wanted to understand why bitcoin has value.
Even Governments Are Embracing Bitcoin
Just as important, I wanted to know what would stop the U.S. government from banning it.
And how would the currency outgrow its widespread reputation as a form of “black money” used by criminals?
What I found was this: At its core, bitcoin is just a way to send and receive value without the need for a “trusted” middleman. Bitcoin has no central location. That means no government (including the U.S. government) can ever shut it down.
In fact, several countries have already tried to ban bitcoin. Many have found (and will find) that it’s impossible. Others, such as Japan, have decided to recognize bitcoin as money.
Governments will continue to realize that it’s better to have a hand in how bitcoin is shaped and regulated than try to destroy it (which they can’t).
Think back to when the U.S. government finally realized that Prohibition was unenforceable. It was better to regulate alcohol and tax it.
Where’s the Future Value?
The real strength of bitcoin is the underlying network of highly secure computers that supports it. These computers run a new form of database called the “blockchain.”
Blockchain technology enables you to move money and data without having to rely on a trusted middleman. It’s truly revolutionary.
More than $4 billion per day is transacted across the bitcoin network… without the need for a central clearing authority. That has never happened before, and it makes bitcoin a unique asset.
As I write, software developers across the world are building applications designed to piggyback off this network.
Over the next three years, we’ll begin to see a slew of new applications emerge for bitcoin and the network behind it. They will support everything from tracking assets to recording land registries… and much more that we can’t even think of yet.
That’s why bitcoin will continue to grow in value.
Since those obituaries started popping up in 2011, bitcoin has rocketed from a low of 75 cents to as high as $20,000-plus – an astronomical 2,666,566% gain before its most recent pullback.
The next time you find yourself being scared out of owning bitcoin by a negative article, do yourself a favor… read about the last 300 times bitcoin was declared dead.
Let the Game Come to You!
Teeka Tiwari
Editor, Palm Beach Confidential
P.S. The bear market in cryptos is over. And this could be your last chance to get in before bitcoin goes to $65,000.
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요약)
아마존 1.3 달러에서 시작해서 $113 까지 올라갔다가 닷컴 버블 터지면서 $5.9 갔음.
94 % 폭락함. 지금 $1800.
닷컴 버블 터지고 기술주는 의미 없다고 생각했다가 돈 벌 기회 잃었음.
비트코인 쓰레기라고 생각했으나, 닷컴 버블 생각에 생각을 바꾸기로 함.
왜 쓰레기 같은 비트코인을 사람들이 계속 살까? 사는 사람들이 바보들인가?
블라블라브라 ~~~ 비트코인 $65000 까지 갈수 있다..
행복 고문 입니다. ^^
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