We’ve seen this before, the headlines predict the death of the crypto-markets, the noobs sell in panic, the not so noobs call for sanity and we all say, calm down, this will pass quickly … Or not?
Personally I do not trade with cryptocurrencies, I limit myself to mining and to develop one or another service in my spare time around the blockchain. So I do not get very sensitive when I wake up and I see the graph collapsing. Actually I am more an enthusiastic nerd of the blockchain and an inveterate entrepreneur, however the crypto markets are something that matters to me and I follow closely.
A few days ago I had a talk that my team discussed to discuss whether or not we should allow our users to use bitcoin, ethereum and other cryptocurrencies on our platform, and I completely refused. Everyone was shocked and they saw me with angry eyes when my answer was a simple and flat NOPE…
Do not misunderstand me, as I said before I love the blockchain technology and I am totally in favor of its implementation, but I am not in favor of speculation, I do not say that it is bad or I see the wrong person, as I said in a First of all, I mine cryptocurrencies myself and I have an extra income from it. But the blockchain technology will never be mainstream and its greatest potential will not be developed as long as it remains only a pump and dump scheme.
As I see it, blockchain technology opens up new opportunities for entrepreneurs in a not so saturated industry.
This discussion with my team was before the bitcon got to touch the six thousand dollars, which I must say is a price for nothing despicable.
And it is what, how a so volatile market can become attractive for an average user? Because realistically we are on a roller coaster. The people that surround me and are not literate in the blockchain theme see me as a tycoon one day and the next as a loser who is about to lose everything (which is not true), and although I am not very interested in what these people think of respect if it makes me think about how people away from technology perceive the bitcoin and the blockchain in general and for such a revolutionary technology this is not good.
I know, or rather I understand that as all adoption process this phenomenon is something “normal”, and I also believe that bitcoin will touch much higher prices in the near future. However I can not help but wonder. How many more times will we see this apocalyptic scenario in the near future?
If you are new to this topic I will dare to give you a little advice. Do not get carried away by the emotion of a bullish market or lose your morale by a downtrend. This has happened and apparently will continue to happen. In the end the market will mature, but do not enter into this with false illusions or leave with your broken dreams. As it is said in the community … HODL!
And how did you do with this crypto-apocalypse?
You got greedy, Martin… was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.