Introduction
I really wanted to write an article about this for a long long time and this article is actually a part of my article "Few Thoughts about Satoshi Nakamoto Part A", posted on Publish0x on 14th January 2022. I am not just trying to recycle my articles providing arguments of luck of writing inspiration, however I felt the need that few well-noted subjects in the dynamic world of cryptocurrency is good sometimes to be revisited, re-written and enriched. Therefore, I have decided to make it a separate standalone article in my attempt to educate people in the Cryptoverse to avoid scams and Ponzi schemes in the internet promising illusions of achieving
- "Financial Freedom" being on permanent holidays on super low-cost paradise areas such as Caribbean, SouthEast Asia or around Mediterranean Sea,
- "Passive Income" just like Robert Kiyosaki explains on his book "Rich Dad, Poor Dad" earning money while sleeping from other people's labour and
- "Quick and Easy" FIAT profits from crypto-investing your hard-worked funds on their trading platforms, strategies, investing teams etc.
I am not saying that Robert Kiyosaki is a scammer, the problem is that his methods work well only for the leaders of the Passive Income schemes not for their followers.
Getting Scammed
I am not perfect. I have been scammed as well in the past during the Crypto Hype of 2020 losing money and cryptofunds as I wrote on my article with title "BTC Airdrop Conflict" on Publish0x but also on Reddit and Medium. So I know very well how it feels being in the FOMO (Fear Of Missing Out) zone instead for staying in my Comfort Zone. I have also written articles about scams that I have avoided as an advice to my readers with titles "Trust Wallet Scam Airdrop in Twitter", "Huge BNB CryptoScam" and "Just another CryptoScam in Twitter" but scammers keep sending me Private Messages on my social media accounts promising me huge profits if I follow their strategies. Here's a recent example:
Due to their excitement, ordinary people can easily get fooled from the easiness of earning cryptos through airdrops, trading, investing, Ponzi Scheme etc and they just obey the instructions given without hesitation and clear mind. Stay Alert. Stay Safe. Always remember: If an investment sounds too good to be true, probably it isn't.
The Hoax
99.99999999% of the people currently inside and outside the cryptospace care only for the Fiat profit of their investment and capital, at the same way they do for their stocks and forex trading on their quest to establish a passive income that would allow them to live wealthy without the need of working.
However, there are some questions that raised into my head.
Why all that matters among the so-called crypto-enthusiasts is the FIAT inflationary value of a crypto-asset ? Why everyone is chasing the "Get FIAT rich or die trying dream in the crypto-world instead of chasing the real decentralized and out of the establishment REAL value of a crypto-asset ?
Let's assume the hypothetical scenario that Bitcoin indeed somehow reaches the Moon aka a valuation of 150k USD per 1 BTC. What would happen in that scenario? Everyone who HODLs a portion of BTC would become let's say wealthy if not millionaires by cashing out their profit. I am not the economist, but in order the CEXs who would exchange the BTC to US Dollars and the banks of the establishment who would serve the thousands of the request of withdrawing these USD value into their bank accounts, would need to PRINT billion of dollars leading to a huge inflation that would cause the US Dollar to lose its current value. The situation would be like as you might have 1,000 USD and the only thing that you could buy with these 1,000 USD would be chewing gums. On the other hand, since everyone would rush to sell their BTC and exchange them to USD, BTC price would fall as well instantly.
It is like an MLM scheme where the founder and the first adopters of the scheme might get rich with other people's money. The Tulip Bubble was another similar example.
Certainly, Bitcoin wasn't built for that reason and this is NOT what Satoshi Nakamoto promised as "FINANCIAL FREEDOM". You can read what Satoshi Nakamoto promised on my article "Few Thoughts about Satoshi Nakamoto Part A". and in the section below "Satoshi Nakamoto's Vision in Brief. My advice is that you need to think BTC not in comparison of its value with any kind of traded commodity USD, GBP, oil, gold, silver or even wool but think outside the box as a pure electronic cash system. When ancient people used silver and gold coins as a mean of transactions, they didn’t compare their value with olive oil, wood or marble like it happens in the modern Capitalistic system and they were guaranteed by the King's sovereignty on their heads. Finally...
No. I am not interested to "Get Rich Quickly" in Inflated Printed FIAT Money and I have enough FIAT money to pay my bills and taxes from my day-to-day job.
Story of my life, I don't have a good, permanent and secure job. I change jobs very often, not because I am a trouble maker but because I can only find contract jobs for few months and then I get unemployed again until I find the next one. And No. I am not Satoshi Nakamoto. I am just a cryproenthusiast
HODLer and the main source of income is all the faucets and GPT/PTC that I mention on my website https://cryptomonkey.weebly.com/
My personal "Failed" Trading Story
On the other hand, you might consider me as a hopeless romantic HODL crypto-enthusiast. I am not a trading gambler because I see no difference between forex or stock trading and crypto-trading as soon or later what will happen is the loss of the traded capital. Fellow Greeks who have lost their money on the great Greek stock market fiasco on the early 00s can easily understand me. And if someone try to argue why I have such a strong anti-trading opinion, I indeed tried my luck in cryptotrading in the past to see how easy it was to earn money through StormGain. My trading achievement was at the beginning successful even with small shy trades and I was tremendously enthusiastic with my achievements and confident that I can deliver better results.
That was arrogance. Bad trades manipulated from my personal FOMO feelings and fake confidence provided from few successful lucky trades started to follow one after the another and finally a short #trade to sell XMR went completely wrong and couldn't save the bullish #XMR rally. It was a bad trade but I should have closed it at 4. Still, you know traders are greedy. That was a great lesson for me because as Robert Kiyosaki wrote in his book "Rich Dad, Poor Dad"
When you lose, lose big
Total loss 300 USDT which I could invest back on September 2020 and almost buy 1 ETH. You can imagine very well the performance of my investment after taking into consideration the current rate of Ethereum. Personally I don't believe there is a way to predict the future and earn money from the future trend of an asset especially when the market has been randomly manipulated from the market whales. Either individual or institutional large holder of an asset or a cluster or them that are capable to divert the market on a specific direction according to their own interest and all that you can do is to let yourself to be pulled from their trading movements at the same way that a piece of wood is being pulled away from the shore from huge waves. I won't disagree that sometimes you might get lucky and be profitable when that piece of wood is pulled on open sea, but there are times that you will end up on a loss and on the rocks because simply you have no control of the trading outcome. It isn't you who manipulates the market with a 1000 USDT position!!! And it is the loss that hurts mostly, not the profit!
An example how Bitcoin Whales can manipulate its value can be found on Gavin Andersen's blog article with title "A Possible BTC Future". Feel free to read it.
Still the only problem with copying post-active. You just wait to see what the whales are going to do to copy their trends. You can’t manipulate the future. Whales can, they are pro-active and because of that they will always be ONE step ahead.
Satoshi Nakamoto's Vision in Brief
Satoshi Nakamoto's subtle message on the Genesis block was taken from "The Times" 3/1/2009 front page with main title "Chancellor on brink of second bailout for banks" and secondary title "Israel prepares to send tanks and troops into Gaza", and it is indeed the first ever NFT (Non Fungible Token) embedded on a blockchain.
Satoshi Nakamoto didn't build Bitcoin so that you can buy a Lambo with FIAT money by investing in crypto-markets but to create a financially healthy environment where you can indeed be able to buy a Lambo with BTC from your hard labour and work instead of being paid in inflationary currency aka FIAT money.
Think only this: Bitcoin wasn’t designed for withdrawal into an inflationary monetary system… and neither any cryptoasset should ever be…
Satoshi Nakamoto developed Bitcoin according to the message sent on SHA-3 lounge on October 31st 2008 as:
a purely peer-to-peer version of electronic cash allowing payments to be sent directly from one party to another without the burdens of going through a financial institution.
Image Source: Satoshi Nakamoto's paper announcement on October 31st 2008
I am indeed a hopeful romantic HODL crypto-enthusiast since 2013, when I first started to explore the crypto world. I have been also tremendously intrigued from the fact that Satoshi Nakamoto decided to remain anonymous whereas today taken into consideration the current Bitcoin value and popularity, that entity could have been considered the most famous and (fiat) billionaire entity of the world. Yes I am a hopeless romantic HODL crypto-enthusiast who isn't interested on a FIAT profit of my crypto-assets and NOT because of my failed trading attempts. During the previous bull race, I could have sold all of my crypto-assets and withdraw them into my FIAT banking account. But I didn't do it because I believe at Satoshi Nakamoto's Vision and my dream is that one day all of our financial transactions will take place through a peer-to-peer electronic cash system without the burdens of going through a financial institution.
Disclaimer: All information found on this article is for informational purposes only. I do not provide any personal investment advice so please make your own research before proceeding to any investment/trading actions
Publish0x Blockchain stories on [Crypto-monkey] (https://www.publish0x.com/crypto-monkey)
My Censored Blockchain stories on [Read.Cash](https://read.cash/@feax21)
Social Crypto-networking on [Torum](https://www.torum.com/u/feax21)
Follow me on [Twitter](https://twitter.com/feax31)
Follow me on [CoinmarketCap Community](https://coinmarketcap.com/community/profile/feax21/)
Follow my [cryptoblog](https://cryptomonkey.weebly.com/)
