Bitcoin made it to $10,000, once again, contradicting the “Cassandras.” its critics still have no understanding why it is worth $180 billion. They haven’t bothered, comfortable with the easy explanation.
Which is that explanation, you may ask?
To say that the others are lunatics, while they generously award themselves the title of the wise men! But here it is the market and reality stubbornly refuses to comply with their beliefs.
We often densely create the feeling that we possess definitive knowledge and walk with unwavering certainty. We think we know all or at least most of it. Either way, certainly more than the others.
However, in life, as in economics, there is Mr. Perhaps. No one possesses the absolute truth in such a complex world. Without questions and uncertainties, you become immune to reflection. Semi-learning is proclaimed to an infallible lord who claims despotic power in the name of infallibility.
Aware of the above, the column, beyond the obvious purpose of information, is not intended to convey the “truth”, but to provide readers with the cognitive resources in order to ask their own research, the right questions. When you change your mind after a review of the data, it’s a sign of courage, not inconsistency.
The most common mistake is when they consider Bitcoin to be merely a currency, another investment title. I made the same mistake in the first period. I valued it superficially and underestimated it. As the Internet underestimates, anyone who considers it an additional application on the computer. It’s a lot bigger than that. The world has changed, the culture, with this technology.
This is a mistake that even many of those who have bought it have made. However, this is not a mere stock market value. It’s not just a new payment network. As much as it’s convenient for people to imagine the future as an extension of the present, that’s not the case. Bitcoin is the protagonist of a new technological wave, preparing to highlight a whole new monetary, economic era. From the money we understand, to the money that understands us.
From a first glance, this is an investment opportunity. However, it is not what makes it so special. It’s like watching the Internet in his early years and saying I’m going to make money trading at Yahoo. If you think like that, you’ve missed the point. Try to think a little more. If you had discovered the Internet in 1990 instead of 2010, how much would your life have changed? Your professional direction, your own way of thinking.
I understand those who fail to understand the operation of Bitcoin. It took me myself to go through a lot of waves of rejection until I realized his true power. It takes time; it needs training and, above all, an open mind. At first you’re sceptical. You’re ignoring it. Then you know it and it enchants you. Then you get obsessed with honour. But it’s not the final stage. That means you still haven’t figured it out.
To get into the spirit, it takes time and study. What decentralization means, how it manages to be resistant to censorship, what is the reason why someone cannot be contained or stopped by malicious software, the government, the banking system. Because it can’t be confiscated. It is not hosted in a single computer. (Check this article from bitnewsbot on hosting companies who accept bitcoin). It is hosted in millions of computers around the world at the same time. It will be difficult for anyone who settles with the familiar; even if he realizes that the old one is not the best.
Few are concerned about embracing new successful ideas. It wasn’t easy to endure psychologically, to believe in yourself, when everyone around you goes backwards. But those who do it come out victorious. The first to detect and recognize value in something that others see discredited.
Bitcoin has a strong ideological complexion. It disputes vested interests of hundreds of years. That’s why it provokes heated debates and passionate debates, such as the ones we’re used to seeing in football or politics. The concept of law is always intertwined with that of the economy. This is a new peaceful monetary, economic and political revolution. Which as she goes on, rewards her followers?
Bitcoin shows us the way to a world interconnected, without economic borders, uncensored. A world liberated from the embrace of the state, banks and large corporations, where freedom and safeguarding privacy are paramount. But beyond these noble reasons, there is the prospect of speculation. Since it was founded, in the last decade, those who really believed it have come out very much.
Is cryptocurrencies a risky investment? Does it take prudence and study before you make any move? Of course you do. But the point is that we have realistically good chances of getting out.