Bitcoin is great. It's truly an advancement to how we will continue to use the internet to societies benefit. But, it's still just money. The same
Bitcoin is great. It’s truly an advancement to how we will continue to use the internet to societies benefit. But, it’s still just money.
The same principles that you hold with your cash, you should hold with your bitcoin. Would you give a random person $50 today becuase they say they’ll give you $100 tomorrow? No, you wouldn’t. You shouldn’t do that in the Bitcoin space either with your money (bitcoin).
There are lots of people in the Bitcoin space that will take your money and run while you are left with a broken promise for profit. Don’t buy into this. Any profit you make here in the Bitcoin space will be money you earn, by either taking a risk or by working for it.
The fan boys/girls in bitcoin can get ridiculous. It’s true that Bitcoin has tons of potential to change the world, but some of the things these people say just become comical.
“Bitcoin could cure world hunger!” – No, the generosity of those holding bitcoin right now could cure world hunger.
“Bitcoin can end poverty!” – No. The quote “Split money evenly among all humans, and it will end up in the same hands it came from before” comes to mind here. People are lazy, and that is why they are poor. People can come from very rough backgrounds and still make it in this world through making sacrifices and hard work.
Bitcoin can do lots of things, but it’s not a magic wand, it’s just money.
This post I’m hoping to keep people grounded, and not fly off the handle to join the circle jerks of how great bitcoin is. It’s been said that the userbase for bitcoin and crypto in general consists of a bunch of crazy libertarians. I don’t necessary disagree with that, and don’t exclude myself from that group, but exaggerating Bitcoins implications is not going to help anyone or anything, it just makes Bitcoin look like a joke and a scam, with false pretenses.