Why my timeline is flooded with the word Bitcoin and cryptocurrency? Why are people hailing it as a new blockbuster superhero movie? Why just the praise and no criticism? The only criticism you will hear about bitcoin is self-loathing, why didn’t I invest in earlier? I am such a fool.
We all had a friend who loves to talk about share market and how he manages to get more money by securing and buying the right share. They don’t just say what happened but to get us more envious, they create a good story that can beat wolf of Wall Street. He becomes the protagonist in his story because he is also the narrator and makes fun of others. Moral of the story will always be like, work smart not hard. Why work 9 to 5 job when you can earn money in a day worth your whole month salary. They won't mention how they lost all the money next day. I say let that man be happy.
The Same thing is happening with bitcoin. Once which was called, fool’s gold (it’s something look similar to gold but not its worth). They bashed on people who buy them and make fun of people by calling them daydreamer nerd who mine them. Well, I say the joke is on you, sir. Bitcoin is surging above the 10000 dollar mark and we all not only get surprised but flabbergast by the news. It’s mean if you want to buy just one Bitcoin, you need to pay 10000 dollars and yet it's not in a physical form like paper money or bond. It’s a digital cryptocurrency. Welcome to the future folks; buckle up because it might be a bumpy ride.
If you are still one of those people who have no idea about cryptocurrency, dude was you in a coma this whole time? Even if you don’t understand how they work, you must have seen them in news. I was tracking them just one month ago when they were at $4K and it swept me away when I read 10K mark. Good golly when did that happen? No one knows how this happens; they can assume and try to figure it out in some boring way. But all we care about is what the future of it is.
As we know, share market has been crashed many times in last centuries, leaving people bankrupt and encourage them to jump off the empire state building(yes, that happened, they closed the terrace after many incidents at the building) it was a bubble and as you know, No matter how far or above the bubble fly, its destined to burst. When share prices are kept hiking, the latecomers put all their money in to get some quick profit. But the old bull knows when to invest and when to sell. When the whole world is going gaga over it, they just sell their entire share to them and get secured. Then one fine day those shares fall down so low that everyone lose their money and mind at the same times. It's not a story but the haunted past of share market bubbles.
So do you invest in it? Do you start mining? Well, I tried mining ones; I get the bitcoin wallet and all the software and hit the start button. A few minutes later it says, 98years to get the one Bitcoin. Wow, 98 years? Are you kidding me? Because my PC was too slow but that is blasphemy, my friends. Now I wonder, if the price keeps going up, maybe 98 years later with one Bitcoin, I could buy whole countries with it.
Once upon a time they were giving 25 Bitcoin when you solve a problem and get a new block while mining. People were thinking it as fun game. Like we are billionaire in GTA but don’t have anything in our pocket.
If I try to explain to you how this work, this post may get longer and become boring. You might want to search the internet and just get informed about it. Read this post, this guy knows everything about everything:-D