With Bitcoin's rising price I get many people asking me my opinion about it: Here are nine tips

1) Don't take advice about Bitcoin from those with a vested interest in seeing its price rise. That's like listening to CDO dealer in 2006. When prices go up, critical thought go down

2) Bitcoin is fascinating from a tech perspective, but don't fall for the rhetoric of monetary revolution. I was among the early users of Bitcoin & actually tried to use it as 'money', but it's not a monetary system. It's a system of cyber-collectibles, priced in dollars
3) By all means pass your money to a seller of these collectibles, but don't do so under the illusion that you're engaging in rebellion, or that you're doing prudent investment. You're doing what you're doing, which is buying a collectible from someone who is taking your money
4) Unlike many other collectibles, Bitcoin has no actual features, other than the fact that it can be moved around. It has a highly innovative issuance & movement mechanism, but that's somewhat meaningless if the thing being issued and moved is featureless
5) In fact, its only feature is its logo and the language that surrounds it. Without that the tokens are basically just blank digital objects, the digital equivalent of passing around fragments of limited edition clear glass beads
6) It's precisely this featurelessness that leads to the volatile price swings. The token is essentially hollow, which means there's no real-world tethering. Even CDOs were eventually 'anchored' to the real economy, but Bitcoin is largely driven by media-induced network effects
7) The rising price of Bitcoin does not signal its 'success'. It just means that another cycle of media-driven speculation has kicked in. The US dollar doesn't notice Bitcoin any more than it notices any other object priced in dollars, whether that be motorbikes or lipstick
8) The key difference with motorbikes or lipstick, however, is that we have intuitive ways of working out if their price is reasonable or not, by comparison to the prices of other goods. Given the Bitcoin is a featureless object, it escapes this same scrutiny
9) Ten years ago Bitcoin was highly important in spurring creativity, but now it's largely settled for being a means to make speculative investors rich, which is fine, but not deeply profound. If you're interested in crypto as a way to change the world, look beyond Bitcoin

More from Crypto

You are running out of time to get ahead in cryptocurrency.

You know what's coming:

🔺️ Regulation
🔺️ More shutdowns
🔺️ Banks deciding who gets to do business

It's time you got your own crypto wallet.

Don't know how? I'll show you.

/////THREAD\\\\\

METAMASK

What's metamask? It's a wallet. That you -- I mean YOU -- own.

You see, when you buy crypto through an exchange like CoinBase, you own it but only kind of.

If they get

🔺 Hacked
🔺 Shutdown
🔺 Servers crash

-- your money is STUCK.

We are gonna avoid that 👇


First thing,

Go to

https://t.co/JXAp9o5RzJ

You can download it on your computer. It's a browser extension.

Alternatively, go to the app store on your Android or iPhone. It's there too.

As part of the setup process, you will choose a password.

More importantly though...

SEED PHRASE

As you follow the setup process, you will be given a 12-word seed phrase.

WRITE. THIS. DOWN.

Take it down and guard it like the map to Davey Jones' Locker.

THESE ARE THE ONLY WAY TO RECOVER YOUR ACCOUNT.

DO NOT LOSE.

We good? Great.

Let's continue.


Once you're all setup, your MetaMask wallet is going to look something like the picture below.

See where it says Crypto Address? That's where your actual address will be.

It'll be a random arrangement of letters, numbers, etc.

Click on it to copy to your clipboard

NEXT STEP
Quick Thread on #Altcoins/ #Altseason

Step 1: $BTC has a huge correction. Every range starts with either a pump (or dump) and then follows with a dump (or pump). In this case, #Bitcoin pumped and is now pulling back. This is


Step 2: $BTC ranges big once it finds a bottom. This will allow it to reaccumulate for a big summer run in 2021. This is HEALTHY IMO.


Step 3: Once $BTC finds a bottom and starts to grind up again, I expect $ALTS to do very very well in both alt/usd and alt/btc pairs. ALTSZN is almost always characterized by strong alt/btc pairs moving- I've already accumulated most and have done my final buying today and more.

$BTC.D typically has a very nice time during this time of the year. I was off on December prediction bc I thought $BTC was going to pull back by then but oh well! #Altcoins will start their pumping time VERY soon now.


More information on what #Altseason is and $ALTS market

You May Also Like