Bitcoin And The Economy
Hello, here's a little story about when I started to gain an interest in "Digital Money" because of the world inflation and daily living costs growing and I was slowly learning how hard it was to actually save the money you earn from work to build it up, here's my 2nd altercation with Bitcoin.
My Trip To Turkey
It was the Summer of 2013, June 11, I was getting ready to travel to Turkey, to meet relatives and distant relatives, learn a bit about where I come from, learn my people and their desires so I can understand why I am the way I am, that's a story that we're not interested in though... well, not exactly.
This travel wasn't going to be a short one and naturally travelling from Australia to Turkey, did make me question the world economy, how is the AUD 3x the TL (At The Time) I naturally thought about that "Bitcoin" I came across a few years earlier prior to leaving school, the $BTC that a was a few cents had hit between $10-$30 (Something around those prices) yes, in a matter of 3 years Bitcoin went from 10 cents to $10-$30, once the $35 threshold was hit (Again around these prices I don't remember the exact value, please forgive me) The price did start to drop over the summer. I generally thought "Yeah, my dad and older peers are right, they're pumping this digital currency to excite people then selling the assets to feed the banks" I believe Bitcoin dropped as low as $2-$5 during 2013-2015 (A Story For Another Day).
I eventually left around a month later around July the 26th or 27th (Could've been in August 5th too, just over 1 month a 2 weeks, this was over a decade ago, the dates are fuzzy, please bare with me).
I met my cousin's found out we have a few similarities in likes and dislikes and found out that we are very different from each other, all the cool teenage things, overall it was fun learning what type of people we are and where we belong, one of the things that caught one of my cousins attention as mine was "Bitcoin". My cousin being a little older and having a little more depth of understanding made this "New Currency, New Money" a new light for him, we spoke of all the possibilities and to see how much we "sounded" like we understand what this could mean for the world and how it could help fix and build new economies.
If you read my first article on this topic, you'll know what's about to happen next. (If you didn't buckle up). Did You Say Bitcoin? - First Article
We brought up Bitcoin, in a discussion to our father's, my dad and his older brother and it doesn't go exactly how you expect it, but ends up as you would expect, if you know what I mean!
...So my cousin started to talk about Bitcoin in Turkish to my dad and his father, main reason is because my Uncle doesn't speak English and it's easier for him to explain Bitcoin in Turkish since that's how he learnt about reading up Bitcoin, it didn't make a difference for my dad though, it was still some la-la-land money scamming scheme for him. HAHA!
In Conclusion
Eventually explaining the pro's and con's about Bitcoin my uncle was like "This seems a little far fetched but if they do succeed this will be a good system but won't happen any time soon... a decade isn't look but it sure ain't soon. Not sure if he spoke negative about it away from us kids at the time but he sure didn't dim our lights on it. My father did come to an understanding that it could work but IF the world economy collapses and we are watching that happen at an alarming rate today. We are also watching everything go digital, believe it or not the next decade will determine how we do trades, In my honest opinion.
To conclude it my dad wasn't faithful about Bitcoin and my uncle was %50/%50, however, my cousin had invested in Bitcoin and I still didn't, in 2016 he made some profits and sold some and kept more of the bitcoin until it pushed passed $40k and sold the rest (From what I know, not sure if he got any left or not, I don't get involved with other peoples investments, I do share any investment opportunities but never interfere with what people do with their own money) yes... I watched Bitcoin hit $30+ and still didn't buy any. Especially after a motivational discussion with the famalam's.
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More articles of my Crypto journey to come, if you have any questions please ask I will be more than happy to answer you.
- First Article of this blog series Did You Say Bitcoin?
