I recently bought into bitcoin and other cryptocurrencies after participating in a chat with friends who were more knowledgeable than I ever will be with technology and where things are headed. And the more I read and hear them talk about it, I realized a couple of things. In terms where the future, it's moving fast. I think some of our current geopolitical problems stem from just fast our society is evolving and some if not most of us not being able to adapt to changes. Second, cryptocurrency is still in the early stages. It feels like something that will never stop changing. That is the nature of digital money and how it is use. And there are more than one use for crypto than just paying for goods and services.
We don't need to know everything there is to know about everything. This is true with crypto as with anything else. We do need to know a little about it so we don't blindly walk into it without a clue at all. It's like when you visit a new city. We know where the major tourist attractions are and perhaps a few hidden gems only the locals know about. There is no need to know every back alleys. You would not want to anyway.
Knowing what a blockchain is and how it fits in crypto is important. We just don't need to really know how it works. Knowing a little about it comes with some peace of mind in knowing that all that zeros and ones do mean something and can have value.
Having listened to my friends, I decided I should spend a few hundreds dollars and get in on it. And it's definitely not enough to get rich off of is but it does help me understand more about it. And it has lessen the anxiety I had in the beginning. It was around that time when ethereum was hacked only once or twice but three times around the time I send Coinbase my couple of hundred of dollars (The Hacker News).
As I learn more and more about it, I'll share what I learn and hope that it helps you as well. And if you find what I learn is wrong or that my explanation is in error, I would greatly appreciate correction. After all, I feel my blog is about moving forward together with all the readers.
I do think that one thing is certain. Bitcoin is what we have today but because of its changes, the crypto market will evolve further as more people begin to use it, sparking innovation in this market. What innovation? I have no idea but I can't wait to see.
So, I would relay what I do with my 0.1 bitcoin if anything at all. Maybe I'll buy more. Maybe I'll get into others as well. Who knows. What I would not do is make suggestions that anyone spend their hard earned money on crypto. I want there to be some level of objectivity and trust between us. What you do with what you learn here is up to you. Above all, staying informed is what I want for all of us.