The bird that hits the glass again and again will break it one day. Here we face a very hard barrier. Every time we try to fail, we feel the blow. But not everyone who insists is a fool. Bitcoin can break the $ 10,000 resistance. Of course it doesn’t break and nothing else. Because the event happened in the past. The idea is that the ice breaks and then solidifies. Let it become an iron prop. Come on Bitcoin! You can!
Now let’s talk about the week’s most read crypto messages.
Here’s an interesting dilemma. Much is said about the importance of buying coffee with Bitcoin. When I was first informed about Bitcoin years ago, I was introduced as a libertarian PayPal provider. They told me I could make transfers and pay for things from my phone without having a bank. I thought: ideal. Another PayPal.
There is always talk of the introduction of Bitcoin in shops and stores. I recently came across the tweet from a Venezuelan bitcoiner (friend) who said that paying with Bitcoin in Venezuela is very cumbersome due to internet service outages. And the other Bitcoiners on Twitter shot him. Yes, there is heresy in the crypto community. This bitcoiner made the mistake of going upstream in public. The wall came out.
However, I personally have to admit that I don’t do this every time I go to a place and have the option to pay with Bitcoin. That’s my secret, because in the crypto realm, it’s a crime to say something positive about Fiat that doesn’t go unpunished. I have to stay in the closet for my safety. But I pay in Fiat. The process is faster and cheaper. I pass on my ticket and leave. But that’s not the real reason. Something much more fundamental is happening deep inside. I love Bitcoin and not Fiat. You can say goodbye to the Fiat without any problems. What’s more, I love spending on Fiat. But saying goodbye to my satoshis costs me more work. How much will this coffee cost me in 10 years? How much would you get in 5 years if I didn’t spend these BTCs today? Don’t comment on the tweet of this massacred bitcoiner. I have just read the comments. Everything outraged. But that day I went to the market and paid in dollars. At night, the price of bitcoin rose. Smile!
The increasing demand and limited supply of Bitcoin are always presented as the two main pillars of the price. And it is true. Bitcoin is basically a speculative asset. The psychological element and the scarcity play a fundamental role. Bitcoin is one of the things that exist thanks to belief. It’s like the old gods. Their powers were directly related to the prosperity of the city of worship. Could the guardian goddess of Athens be the protector of a small unknown region? Community and scarcity. The great heroes in this story.
However, there are also very valuable demigods within this universe. They don’t live on Mount Olympus, but they are very influential. I will mention two. We have lost bitcoins. Many users have lost their private keys and these bitcoins have been lost forever. However, they appear on blockchains and are part of the 21 million. The exact number is not known, but there are quite a few. These lost bitcoins reduce the offer. There is a theoretical shortcoming. And there is a practical shortcoming. The lost appear on paper, but it’s not on the street.
Another demigod are the Hodler. They are hoarding bitcoins. And this hoarding works wonders for the price. In order to, When we say Bitcoiners are pulling their money off the exchanges to put it in their wallets, changing the ratio of Hodler to Trader in favor of Hodler, it’s not stupid to think we are facing a bullish signal.
We are always tempted to make predictions. Predictions are made, but then we fail colossally. The truth is, we have no idea of the forces that are driving the market. We have to realize that the crypto community lives in one surprise. But the next day, everyone says they knew and explained the reasons for moving with immaculate clarity. It is logical. It was a whale. It was the future. He saw himself coming.
It often happens that an inventor theoretically plans a surprising invention. The public ridicules and claims that the company is impossible. Then the impossible is achieved. And people just say … easy. Everyone would have. I see it coming. Retrospective analysis is easy. But not because time makes us wiser. It’s because we simplify things too much. Ah, a whale. Futures. But one day a whale sells twice as much and nothing happens. Futures expire and the price does the opposite. How do you explain that? Analyzes are not bad. However, we need to know that there are many variables behind every price movement that we do not know. We don’t always have the answers.
I have always believed that war is not the best strategy for growing. This means that the old must be destroyed in order to implement the new. Attack to attract attention. I don’t know if it really works. It seems too totalitarian. Start the revolution by defining the enemy. Why should Bitcoin compete with the dollar? Why should we replace one hegemony with another? Has the Internet stopped watching TV, radio or the media? Yes and no. At home I have a television, a computer, a radio and books. All together as one big family.
I think there are two ways of life. The positive and the negative. I will give an example. Suppose you go on a date with a love perspective. We are interested in this person and we want to show them our best side. The negative man would start attacking the girl’s ex-boyfriend. “This man never wanted you.” “He’s crazy.” “You deserve better.” What would the positive man do now? The problem of the ex-boyfriend or the other suitors would most likely be avoided. The positive would focus on creating a positive experience.
In my humble option, Bitcoin is attractive enough to conquer the girl. There is no need to go to war with anyone. Suddenly, We can build a new world (bit by bit), not on destroying what exists, but on our virtues. It is not a war. Maybe it’s an integration. All together with a great family.
The unknown that promises big profits with low risk. The eternal dream of magical wealth. As a rule, losing an opportunity is better than losing money. Yields of 1000%! But we can lose everything. Why lose money we need to make money we don’t need? Possibly on the street to have a beach house or better car. Makes no sense. It’s like Russian roulette. Money or death. It just doesn’t make sense. Beware of fraud! Can you afford to lose that money?