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Why this is the best time to start saving in Bitcoin?

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bitcoin savings

There were few charts making rounds on Twitter and Reddit about how exchanges are running out of Bitcoin. 

Top 5 Cryptocurrencies 2020

In other words, the bitcoin that is getting mined is not anywhere close to the demand in the space.

At some point, Grayscale alone was buying up more bitcoin than what was being mined.  Then the demand from Square and Coinbase growing crypto consumer base was adding more demand.

In the midst of these shortage cries came PayPal with its 300+ million users into the Bitcoin space.

Now, the shortage of Bitcoin has become a real issue with the institutions that are looking to acquire more for their customers and the exchanges that need it as base trading currency.

We haven’t even mentioned the companies that are looking to hold bitcoin as their reserves in place of fiat.

Bitcoin crossed the $15000 mark in the midst of this unprecedented demand.

And yet, the industry experts say ‘this is not even the start of Bitcoin shortage woes.

The limited amount of bitcoin is not enough to go around for the people who will be coming into this space in the future.

The days of measuring in mBTC are coming

bitcoin in satsIt will not be long before we start talking about Bitcoin in its fractional denominations of milliBTC (or mBTC).

How do you make people feel that they own something if you cannot talk in whole numbers?

For instance, instead of saying I own .1 Bitcoin for $1500 which seems too expensive in dollar terms and too meagre in terms of Bitcoin possession, what if I told you I own 100 mBTC at $15 each.

Now that makes me feel a little better about my prized possession.

From the mBTC we might journey into measuring Bitcoin in Satoshis which will make my milli stash look even bigger.

What has all that to do with saving in Bitcoin?

That background was required to impress upon our readers that it may be time to start accumulating Bitcoin before it becomes unattainable.

At its current price, owning a whole bitcoin is quite a feat for many.  However, the explanation we went through earlier is to encourage people to know that we do not have to own a full bitcoin.

A fraction today might be a stash in Satoshi terms in the future.

When you approach Bitcoin from in mBTC or Satoshi terms – you will find it enthralling to accumulate.

Why should I save in Bitcoin instead of fiat or gold?

Banks

BankMost banks charge fees to hold your fiat. There is a rumor that we are going to be moving to a negative interest rate banking in the near future.

When negative interest rates are introduced, people will be charged fees along with a negative interest rate for holding your money.  

Fiat also victimizes its holders through inflation.

If you happen to live in a country with 5% inflation and negative interest rates are 2% and bank fees of 1%, you are losing 8% for just saving your money in fiat.

We are at a lot higher inflation around the world right now.

Let that sink in.

You are being penalized for saving your fiat at a bank.

Gold

Gold vs BitcoinHow much gold do we really have on earth?

No one knows for sure.  

There have been numerous allegations about governments around the world manipulating the gold supply to keep its demand ‘high’.

One article on Forbes probes manipulation in the gold market.

Many believed that Aluminum was better than gold and platinum until someone proved that it is abundant all across the globe and the prices went to ground.

Unlike Aluminum, Gold has a better history as a metal of value, so we do not think something as drastic will ever happen to gold.

However, the point is, Gold is still inflationary in its supply. Yes, its inflation is controlled by governments but the fact remains.

We actually like Bitcoin and Real Estate better than fiat and gold.

Real Estate

Real Estate cryptoReal Estate is the only asset that we cannot make more of (well, until we make Mars habitable and then even Real Estate may not be as ‘limited’).  

However, many markets around the world are highly inflated in Real Estate values.  

Experts expect that the prices will see a sharp drop similar to 2008-09.

The point is, while the Real Estate itself is not inflationary, the valuation and the tactics that institutions use could be.

Artificially inflated prices tend to fall once in a while and could prove costly to those who got into the space at the peak.

Still, we like Real Estate better than gold and certainly more than fiat.

What about other investments?

Investing in recessionWe are not saying there are no other investment opportunities. For instance, there are stocks, ETFs, Startup funding, IPOs, buying small businesses, etc.,

However, none of those have an upside that, in our opinion, Bitcoin and some cryptocurrencies have.

With stocks, you need to know which stock to get into and when to get out.  Experienced traders say ‘house always wins if you don’t know when to walk away’.

With startup funding, most of the startups go bust and even those that do succeed lock your funds up for years upon years.

Buying small businesses comes with a lot of inherent risks, capital requirements and personal commitment.

Bitcoin is the only investment that has the potential, in our view, to keep climbing up higher and higher in the coming years and one could exploit that upside by just holding it.  

Institutions FOMO could make Bitcoin unattainable 

Bitcoin shortageAs more and more institutions start FOMOing into Bitcoin, it could become even more expensive to buy.

Of course, Bitcoin is very volatile and could crash to zero tomorrow (which seems very unlikely at this point of its evolution but a caveat is nevertheless prudent).

That is why, we personally like dollar cost averaging and investing in small amounts.  For instance, we buy a $100 here and $100 there.

You could start by putting money that you save on other expenses.  For instance, if you decide to stay home and eat homemade meals instead of eating out, that $50 or $100 you saved that night could become your Bitcoin savings.

Even if you lose – you only lost what you would have spent in a restaurant.  However, if Bitcoin ends up doing all that everyone ‘expects’ to do – then those small savings could become meaningful in the future.

DYOR and see if Bitcoin appeals to you!  But do so before it becomes unattainable.


Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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Crypto Roundup: All Your YouTube Influencers in One Place

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Crypto Roundup

Visit our Crypto Roundup section daily for a dose of all your favorite Crypto YouTube influencers in one place.    

Worried about missing updates from your favorite YouTube crypto influencers?  

Welcome to the Crypto Roundup.  

On this page, we will post a quick summary of the videos from some of the most popular YouTube crypto influencers.

Ivan on Tech  Altcoin Daily

Crypto Zombie Box Mining

Ellio Trades Lark Davis

Data Dash Bitboy Crypto

MMCrypto Chico Crypto

Altcoin Daily

Video title: Bitcoin Will Be OVER $20,000 By Christmas 2020! BIGGEST WEALTH SHIFT OF OUR LIFETIME! Cryptocurrency

Date: 19-Nov-20

  • World’s biggest wealth shift of our lifetime is happening right now and no mainstream media is talking about it, except CNBC.

  • Preston Pysh predicted on August 26th that: “Bitcoin should be reaching its all time high by Christmas.”

  • If you are looking to buy a dip, there may not be one.
  • Ricardo Salinas Pliego, a mexican billionaire, has just revealed that 10% of his liquid assets are into bitcoin.

Lark Davis

Video Title: STOCKS HIT NEW HIGHS! WILL COVID VACCINES LEAD TO MEGA PUMP IN 2021? [Are You Ready?]

Date: 19-Nov-2020

  • Stock markets and bitcoin pumps higher on the news of the second successful covid vaccine.
  • There could be more chances for the new stimulus. Means more inflation, more debt and simultaneously pumps stocks, gold and bitcoin.

Crypto Zombie

Video Title: BITCOIN $18.5k TOP!!?! DON’T BE FOOLED!! HODL FOMO BEGINS!!! $TRILLIONS FLOOD!!

Date: 18-Nov-2020

  • Overall sentiment of Bitcoin has changed drastically from ICO craze in 2017 to a time where people are FOMOing to own more bitcoin.

Ivan on tech 

Video Title: BIG WARNING TO ALL HODLERS!!!!!!!!! DO NOT GET REKT!!! BITCOIN $18,500 REJECTED – NOW WHAT?

Date: 18-Nov-2020

  • Ivan expects bitcoin to shoot past $20K resistance before end of this year, giving it 85% probability

Chico Crypto

Video Title: World’s Most Powerful Turn BULLISH on BITCOIN

Date: 19-Nov-2020

  • All those who hold big bags of Bitcoin will come out of the shadows to talk up the Bitcoin rally, a $20K bitcoin could be on the cards before the end of this year
  • Ethereum mining could act as a big catalyst for Ethereum’s price
  • Big companies like google could play a bigger role in mass adoption of crypto

Let the FOMO begin…

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

Continue Reading

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Lessons from the Veteran HODLERS to the Newbies!

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Lessons in Crypto

For all those who entered the crypto market after the 2017 bull run – here are few lessons from the HODLERS from the last bull run(s).

This is our attempt at making all you newbies aware of the mistakes veteran cryptoers did.

Let’s get started…

Don’t FOMO in to all the hype

FomoIt’s hard not to FOMO in crypto.  The trick is to make sure you don’t lose your shirt in crazy bets.  Always limit your bets to what you are comfortable losing.

The common ways you can become victim of FOMO are:

  • Following your favorite YouTuber without actually doing your own research on the project.
  • Investing into projects at the top.
  • Believing in promises of 100x or 1000x without any substance behind those claims.

HODLing far too long

Remember why you are into crypto – to make the money.

Never fall in love with your crypto, and HODL the tokens even when they are 10x and more.

Have a strategy to take your capital out before you become a HODLer.  

If you believe the project really has what it takes to go beyond 100x and more, just sell in instalments so as to not miss the ride.

One of the best ways to HODL is to take your capital in full and profit in tranches.

This rekt story will give you a right perspective of what it looks like, it’s one of many:

Don’t put all your eggs in one basket

Never go all in on one project. No matter how strong the project may look, even the projects with strong fundamentals don’t do well sometimes. 

And, you will be kicking yourself watching other projects go up and your portfolio just doesn’t seem to make a move.

And don’t over do it and have a portfolio with over 100 projects either. It is very difficult not to have invested in more than 15 projects but anything less than 20 is a good way to go, in our opinion. 

Put aside the share of Profits for Taxes.

One way you can get a good night’s sleep is by paying taxes. 

Always keep a habit of putting aside a % of your profits in USDT or other stable coins, as a reserve to take advantage of market volatility and also to meet your tax obligations. 

Exchanges are more evil during bull run

Foreign ExchangesDon’t trust exchanges. Yes we already know that, but they play more games during bullrun, some intentional and some technical. 

Many exchanges tend to go under maintenance when the prices shoot up too high too soon (Coinbase?), and you can’t sell. 

And the shady exchanges scam out before you know.

Regulators seem interested when the market cap of these projects goes through the roof, which then adds FUD around the project crashing the prices.  

Exchange may freeze funds pending investigations when such issues arise.

Take for example OKEx. Users are unable to withdraw their assets from the exchange for almost a month now, not certain if they ever will, and all that started with the legal dispute.

Never fall for Arbitrage gains

Arbitrage is when you buy in one exchange at a lower rate and sell on the other for a higher rate to take some profits. 

Some shady exchanges show a lot higher prices than the other genuine exchanges and when you deposit your assets to sell at those prices there won’t be actual volume to execute the trade. You may be stuck with either a high fee for withdrawal or other funky rules to take your own money out. 

Remember, there is no free Giveaway

Free CryptoScammers rise with the rising market.  

When the crypto market buzzes with all time highs – scammers cash in big time on newbies.

The most lucrative scam in crypto is ‘Free Giveaway’. Whether it be through YouYube ads or discussion groups and wherever they can get your attention.  Read this article on various sophisticated scams that are being deployed.

We hope these lessons help you through your trades and crypto life.  Stay safe and always DYOR.

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

 

Continue Reading

CryptoSpace

Crypto Roundup: All Your YouTube Influencers in One Place

Published

on

crypto news

Visit our Crypto Roundup section daily for a dose of all your favorite Crypto YouTube influencers in one place.    

Worried about missing updates from your favorite YouTube crypto influencers?  

Welcome to the Crypto Roundup.  

On this page, we will post a quick summary of the videos from some of the most popular YouTube crypto influencers.

Ivan on Tech  Altcoin Daily

Crypto Zombie Box Mining

Ellio Trades Lark Davis

Data Dash Bitboy Crypto

MMCrypto Chico Crypto

Altcoin Daily

Video title: The United States Just Brought Bitcoin into the National Conversation!! | Cryptocurrency in 2021

Date: 16-Nov-20

  • Former National Treasurer and the new US Senator Elected, Cynthia Lummis, said Bitcoin fits the bill as a good store of value as it is finite and limited, unlike the inflationary fiat currency.

  • Grayscale adds over 7000 more bitcoin in just the last 24 hours.
  • Just over 16% ETH staked for ETH 2.0 launch on Dec 2 2020.
  • Bitcoin Cash hard fork takes place tomorrow.

Crypto Zombie

Video Title: WARNING!!! BITCOIN 2017 BEAR FRACTAL RETURNS!!! BTC WORST CASE SCENARIO…

Date: 14-Nov-2020

  • Institutional money starts flowing into bitcoin.

  • Paypal goes live with its crypto trading platform for eligible customers. They have also raised the buying limits from the initially set $10,000 to $20,000 per week.
  • DIA, an DeFI Oracle provider, integrates with Polkadot.

Ivan on tech 

Video Title: BITCOIN WILL DO SOMETHING INSANE THIS WEEK!!!! -30% DUMP AHEAD vs $20,000 PARTY – Programmer

Date: 16-Nov-2020

  • Bitcoin could make a big move this week, either hit 20K or we may see a 20% to 30% drop
  • Chainlink partners with Etherisc to deliver agricultural insurance in Kenya.

Ellio Trades

Video Title: UNLOCKING $100 TRILLION? This low cap gem seeks to bridge CeFi and DeFi

Date: 15-Nov-2020

  • DeFI could be similar to the ICO craze in 2017
  • Low cap gem: AllianceBlock
  • AllianceBlock is bridging the gap between DeFi and CeFi
  • AllianceBlock Partnership with Orion Protocol and Chainlink.

Chico Crypto

Video Title: WARNING! An “EVIL” Entity Wants Control of BITCOIN…

Date: 15-Nov-2020

https://www.youtube.com/watch?v=45Ac-5y2ofg

  • 90% of Bitcoin’s mining pools are controlled by China based mining pools
  • As the value of bitcoin goes up – there is a threat of push to ‘control’ the network from China
  • Binance is looking to push through the 50% mining share and Chico believes this could be dangerous

Visit our Crypto Roundup section daily for a dose of all your favorite Crypto YouTube influencers in one place. 

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

Continue Reading

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