Money continues to be a little understood phenomenon. Any talk about finance is attractive. Bitcoin has already evolved to be a financial adventure in the investing space. The world of cryptocurrency appears to be a combination of fiction and finance. We live at a point in time where being successful in life is all about having enough money – the rest comes next.
The ability to earn is everyone’s key to creating wealth. To be able to preserve the capacity to earn is important for anyone who has a dependent family. You need to keep money wherever money is needed. Being right in love and duty does not replace the need for money. The reasons for why someone needs more and more money is obvious. Nothing happens in life for good without the required money to push the good happening.
Further, no one prefers to be working like a slave throughout life. Despite, we follow the good education, good job, good slave formula to survive. When it is about “money making” most do not have alternative thoughts or ideas. Even if they do, it is hard to dare. Ultimately, most of them become slaves of money while working to earn it.
There is a world of difference between “one working for money and money working for one.”
Bitcoin has been working as a new distraction in the world of investment for more than a decade now. There is a rush of mad money-making maniacs who perceive BTC to be as good as a winning lottery ticket.
Michael Saylor: “For those keeping score, Bitcoin is still winning.”
Peter Schiff: “I’ve been warning for years that all the people who made money in crypto will be sued by all the people who lost money in crypto. So, lawyer up pumpers.”
Community Attitude: “People who lost money to crypto are now legally petitioning the government to compensate them with newly printed money, just to go buy more crypto. Market’s gonna be just fine.”
Bitcoin advocates made every onlooker feel like the world economy is out of control and that clinging on to Bitcoin can bring about life-changing wealth. Bitcoin as a hedge against inflation is another story. Fear of missing out, investor interest and price contributed to mainstream take off.
Further the Bitcoin promoters also promote the idea that there is a growing distrust on governments.
The all-time high price of BTC was at $69,044.77 on November 10, 2021. The all-time low of Bitcoin was at $67.81 on June 06, 2013. Thus, it is obvious that BTC is an asset of high volatility.
The total supply of Bitcoin is set at 21 million and the circulating supply is at 19 million BTC coins. The circulating supply changes every 10 minutes as a new Bitcoin gets mined each minute. Due to lost private keys as much as 20% of the entire supply is lost. Recovering lost BTC is impossible.
The idea of Bitcoin being the one and only accepted universal currency, which is not regulated by any government or monetary policy, but by the people who use it is an implied vision for BTC. Many believe that BTC is on its way to make this vision as a reality – Perhaps, an exaggeration now!
Even those who use Bitcoin do not understand it fully. There are very few people who claim to have a so-called full understanding of it. We live in a world where many people do not understand how traditional money works. Understanding Bitcoin gets even more complex.
A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5
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