Knut Svanholm

@knut.svanholm

Priceless

The price of one Bitcoin fell a lot today. Less than a week ago it touched 3000 USD. Today it plummeted down to a little over 2100 USD. To the untrained eye this certainly seems like a huge drop. To those with a short term memory slightly better than your average goldfish though, this is merely a bump in the road hardly even worth noticing. The price was below 1000 USD at the end of March. And 2100 USD compared to one year ago still constitutes a 200% gain. And this is what the Bitcoin price does. It scares away the narrow minded and favors those a bit more patient. Good things come to those who wait as a beer advert once pronounced. That used to be a lie but not anymore. Not for Bitcoin. You see Bitcoin is a limited thing, a scarce resource. Every gain is real and every dip is a buying opportunity. The best time to buy is always now. Yesterday won’t come back. Remember what got you into this in the first place. Bitcoin is still the world’s first cryptocurrency and it’s still the safest one out there. It’s got the biggest infrastructure, the most hashing power and the most dedicated team of developers, despite all recent efforts to besmirch them. The current scaling issues will be resolved, it’s just a matter of time.

The best time to sell is never. Use a part of your Bitcoin to realize all your dreams but not until you can afford them many times over. Including that private jet and that topless women’s chainsaw juggling team you’ve always wanted. Stay focused, it’s just a matter of time. Ignore the naysayers, the doomsday prophets and, perhaps most of all, ignore the bloody altcoins! Most of them are nothing more than a distraction at best. If Bitcoin falls, the house of cards that constitutes the rest of the crypto market will soon follow. After all, Bitcoin is the original experiment. Can we decentralize trust completely? Well, the first thing we’ll have to trust is the idea that we can. What do you think will happen to all the other cryptocurrencies if Bitcoin fails? No one would trust them anymore. Why would they? They’re all based on the same idea. Everything that can happen to Bitcoin can happen to an altcoin. Greed is universal.

Bitcoin won’t disappear though. If you made some money day trading, congratulations. If you bought at 3000, congratulations. If you don’t have any Bitcoin, congratulations, there’s a discount on them today. Keep your eyes on the prize, not the price. The long term goal is what matters here and when everyone gets it, brace yourselves. Don’t stop being a part of it. After all, you never invested more than you could afford to lose, did you?

Hacker Noon is how hackers start their afternoons. We’re a part of the @AMI family. We are now accepting submissions and happy to discuss advertising & sponsorship opportunities.
If you enjoyed this story, we recommend reading our latest tech stories and trending tech stories. Until next time, don’t take the realities of the world for granted!

More by Knut Svanholm

Topics of interest

More Related Stories