Yes, I know, echo chamber. Just had to write that thought out.
And I need to spit this out.
When I acquired my bitcoins, I promised I would hold them for 10 years – I knew it would take a long time for such a radical idea to be understood and accepted.
This year we had an interesting transition from pushing the blockchain concept back to the core Bitcoin value proposition. A small increase in understanding translated to a big price jump. The ecosystem is in much better shape these days but there is still a long way to go before Bitcoin is normalised into our society. You will know the price is levelling off when:
- The BTC price is reported in the daily newspapers and on the evening TV news bulletin just like shares, commodities and exchange rates are today
- People stop saying “only invest what you can afford to lose”
- It’s recommended top have x% of crypto in your retirement saving account
- The faces of Bitcoin in the media are professional looking and neither nerds nor conspiracy theorists
This all hit home when I watched this video recently thanks to Jimmy Song:
https://www.youtube.com/watch?v=TerIjELO7IY
Here we have a mix of current day BTC personalities: Jimmy Song, Tone Vays, Bitfinex’ed, BTCVix and Flibber.
I will refrain from commenting on these guys individually suffice to say it won’t be like this in years to come. Instead it will be presented more like this:
http://www.abc.net.au/news/2017-11-17/bitcoin-hits-record-high/9163794
I will say I was astounded by the comments from BTCVix and Flibber about Bitfinex. I sense delusion going on - they risk ending up looking like these guys. If you have been warned ahead of time and you decide to leave your money there because of pure emotions and then think it's somehow smart to double down on the stupidity and fly to Japan and ask for your money back and let people take photos of you??? Don't do this. If Finex does go down at least take it like a man.
