The Authenticity Is Unparalleled
Looking back on the creation and success of Bitcoin, one has to stand in absolute awe as to how this internet-based money has developed and grown to achieve worldwide adoption and investment from the highest levels of the investment world. When BTC first reached the $1 mark, it was widely considered at that point to possibly become a form of cash. Bitcoin has gone on to far exceed price expectations and predictions. It has also gone on to be more than cash. A lot of people look at the fees to transact on the Bitcoin network and subsequently decide that BTC makes for a really poor choice of cash.
The lightning network is only now starting to gain some utility and traction, largely due to El Salvador. I have been mentioning in many of my posts that people should stop worrying about the fees on the native Bitcoin chain, as second layer solutions, such as the lightning network would eradicate this issue. Many investors began to look for alternative Cryptocurrencies that could fulfill this use case, not realizing that BTC was equally capable. Transacting on the lightning network is exceptionally fast, as well as cheap! Due to the fact that the lightning network is not for holding BTC but rather spending, I make use of Wallet Of Satoshi. Safety is not really a major issue, as it is for spending. In other words, it is quickly depleted, small amounts are stored and ease of use is paramount.
Wallet Of Satoshi Removing Barriers
Wallet Of Satoshi does all the setting up of payment channels, making it really simple and fast to use. This is pretty user friendly and will help aid in the adoption of lightning in my opinion. Compound the fact that BTC had no premine, no ICO and was the first of it’s kind! It is clear that BTC has established itself and secured it’s future by attracting enormous institutional investment. There is no doubt that there are other very important Crypto projects out there with amazing use cases. However, BTC has now established itself beyond question and due to the halving mechanism, guaranteed future growth.
The Domino Effect
You cannot argue the data when it comes to the effects of halving events. In this I am referring to other coins apart from BTC. The BCH halving had very little effect, if anything at all. LTC had a short, yet modest effect. At the end of the day it is the BTC halvings that are providing a life source to altcoins. Altcoin lovers who hate BTC are like human beings that hate oxygen. You don’t get more counterintuitive than that. My view is, respect BTC for the role and significance that it plays and have your altcoins. After all, I too hodl loads of alts!
A biased view will get you nowhere. However, an accurate view, whether you like it or not holds the key to success. When it comes to markets, trading and investments there is only one thing that is paramount and that is being right! It is all about getting it right, the majority of the time. Silly little biases are foolish and ultimately keep investors in the red. To interpret the market accurately means that you have to view it as it is.
A bias is a personal view of a certain individual or group of individuals of how they believe something should be. The problem here being idealistic interpretation, which is unfortunately not realistic. A real interpretation is an accurate interpretation, which is unattainable when there are bias views in the equation.
A True Anti-Fragile Asset
When it comes to anti-fragility, Bitcoin fits the definition to a tee, making it a very unique and attractive asset. This is especially true in the current global and economic climate. The more an anti-fragile asset is attacked or exposed to harsh economic conditions, the more it benefits. It can be said that an anti-fragile asset not only benefits from a shock but is almost dependent upon it.
What does this mean for Bitcoin? It means that BTC actually thrives in turmoil, in chaos and in economic insanity. With the acceleration of quantitative easing and excessive money printing, BTC has actually found assistance in a climate that would otherwise destroy conventional assets. This is extremely bullish! Add to it the shift currently taking place in value transfer, as well as store of value and things get even more bullish.
This excludes the brilliance of monetary issuance, accomplished by the halving and difficulty adjustments. Add all of these factors together and you have a perfect recipe for tremendous price appreciation.
The Entire Market Benefits
This is not an exclusive sequence of events! The Bitcoin effect has a knock-on effect on the entire market, causing altcoins to rise in a similar way that a high tide lifts all boats. This obviously works in reverse as well and a Bitcoin dump will confirm that very quickly! Over the long-term, hodling BTC has always proven to be a wise approach. The accumulation of BTC is imperative for every Crypto investor and deserves an allocation in every portfolio.
As we look to the final leg of this bull cycle, we are all watching Bitcoin. This serves as a reminder of how pivotal Bitcoin is in the grand scheme of things. I hope that this helps to focus your perspective and view the market that little bit more clearer. The market still needs BTC and until it doesn’t it is best to come to terms with it and strategize accordingly.
First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.
This article was first published on Sapphire Crypto.