Disclaimer: I am a 34-yr. old gal, I work with International Relations, a freelance writer and a translator for a holding company, meaning, I am part of the general public, not a financial adviser, yet a lover of research. I enjoy writing, cake, human behavior and encouraging people to think. I am a newbie in this cryptocurrency world and I have been studying it obsessively. And I see many things that need to be addressed to others like me. So, with every post my intention is to share in a simple laid-back way what I am learning in hopes it will give others some thinking tools to encourage them to prepare by researching this market for themselves. — Cee.
As promised, WE MUST TALK ABOUT THIS. WHY?
Because If we do, you just might get the chance to think and research for yourself before being thrown around by this markets commotion.
It is an intimidating market and anything that intimidates generates “resistance”. Some will resist because they can’t stand to watch one rise, and some will hate to know that what they do or believe might be disrupted and might even need to be replaced. Others just hate the idea that they might get exposed due to the appearance of something new that will inevitably reflect them like a mirror, showing they just may not be as good as they thought, they may not be exactly what they thought they were, and even if they were, now something new has arrived and they are angry they did not think of it first, competition sucks. Whatever it is, rejection doesn’t feel good to anyone, and this market is no different as a matter of fact our psychological goes insane at the understanding of all of this.
First let’s see how we first react to this new cryptocurrency idea:
It is a Roller-coaster ride…
First, we are so eager to “gamble” with our money and we think if it’s working for others it will work for me, we love social proof! Statistics show by the end of 2019 there will be 511 billion USD invested in gambling, this tells me we enjoy putting our money on the “I’m Feeling Lucky Roulettes”, this is insane. In other words, humans are willing to take chances with their money! And in this market, it ain’t no different. And most of the time, they do it based on what other people may be doing.
Then, we go through the motion that maybeee it wasn’t such a good idea to “invest” hmmm maybe I should’ve waited. Then, you see things rising again and you get super excited and start thinking maybeee I can give it another try… dude it is a freakin’ rollercoaster ride.
This market rises and declines quickly, and our psychological just collapses especially if not prepared and informed as it should be before engaging in it. Which is the reason I’m even mentioning this, prepare yourself for the commotion, the disruption and the well put speeches from opposition and lovers of this market.
Lot’s of reviews and comments about this topic comes from the commotion, the feels this market brings, and it pushes people to react in a variety of ways.
Following a crowd is never a good idea;
“If everybody is doing it must be good, if no one likes it, it must be bad.”
Even though we all love social proof, letting our minds tell us that something or someone is acceptable or not solely by focusing on what other people think is not okay.
You must learn to rely on you, what works or not FOR YOU. Consumer psychologists will be able to help you with this better than me. Research it
As you can see disruptions are inevitable at many levels.
It disrupts our emotions and psychological, our cash mediators, our governments, the way we relate to money, it disrupts everything.
So, who the heck is opposing cryptocurrency blockchain systems after all? There are two main entities I can think of as most important: Governments and Banks.
Let’s start with governments. The fact that these currencies and their transactions are executed anonymously causes many governments to worry about the use of cryptocurrencies in drug dealing, money laundering, human trafficking, etc. But let’s admit: all of these things are already happening or being funded with money, existing physical money.
I could be wrong but doesn’t sound like this is their real reason. And lets just make it clear off course NO ONE is okay with these issues, (unless they are profiting from it).
WE MUST FOCUS ON THESE ISSUES CLOSELY to find real solutions by finding the real gaps and if they will supposedly increase because of “cryptos” could it be that the real reason is the LACK OF CRYPTOCURRENCY REGULATIONS? And not necessarily because transactions are anonymous?
Think with me….
If I have a dollar bill and pay for an apple at the supermarket, whose owner uses it to disguise a human trafficking business. The money will not reflect my face nor my name simply because I was the one who paid with it at the supermarket correct? It was physical money now being used for wrong and no one knows who has given what. Why should my cryptocurrency carry my face or my name on it?
I’m just saying.
My point is cryptos are versatile yes, yet they can function exactly like money, so we can’t just blame cryptos for what money is already being used for, it just doesn’t sound like fair judgement.
Could the problem actually be THE LACK FOR REGULATIONS OF CRYPTOCURRENCY? Could it solve at least part of the problems related to cryptos had these governments invested in regulating it? After following the news closely in reference to regulations I’d say yes. I’m sure it would not resolve everything, people always manage to find a way to corrupt the law, but my guess is that mostly, YES.
But who’s willing to do that? Read our article about “How is the world perceiving Cryptocurrency.” might give you some insight.
Another strong opposition: The banks. We have been taught that the safest way to deal with our money is centralizing it, having mediators. And its been this way for a long time.
Banks do not like competition, even though they are masters at it, they race on a daily basis to be the best, the biggest, the strongest. And then all of a sudden, a decentralized idea comes through, and competition doesn’t seem like so much fun anymore, does it?
Now, the main financial institutions intermediating between people and their money are about to be taken down, one step at a time until it disappears.
What! Disappear? Yes.
That is scary. I believe I speak for many when I say, I have never thought of the possibility of not needing a bank ever. The existence of virtual money? Managing my own transactions? Just has never occurred to me. A technology that gives me more freedom to how I use and manage my money, as well as it saves me money?
Shut the front door.
But banks are not happy. They all make so much money for their transactions, some of their fees are anything but low, because their transactions fluctuate through too many places and for that reason their costs go through the roof, way more than what is being proposed if we use this decentralized technology.
Banks will lose money. Lots of it. And that is enough reason to become a resistance against a project that has the potential to eliminate them from the face of the earth. Ouch.
Most of us did not realize how dependent we are on third-parties until we are presented with this new decentralized idea. It sounds genius.
Conclusion: Resistance is absolutely normal.
It’s healthy and expected, as long as you have the right perspective to deal with the commotion it causes and decide for yourself what is best FOR YOU, not others, even though it is okay to search for social proof, it is not okay to rely on it alone. Study facts, question the motives, try your best to keep yourself stable and invest wisely. Get familiar with the projects out there.
The idea of this article came from a vulnerable place, it was not to persuade anyone to love or hate this market, but mainly to show that this market needs new investors to be aware, lucid, awake, informed. So that this market may grow through wise participants, in the name of better investments and success stories.