I know the following opinionated article will hold facts that a lot of you out there already (should) know by now. Do keep in mind that not everyone who visits this site, is an experienced crypto currency veteran (yet). Here we go!
A lot of people are only looking at Bitcoin when it comes to making money with crypto currency. While that is not odd, and honestly, I would even dare say perfectly normal, you are severely limiting your earnings potential that way.
There used to be days, and there still are, where Bitcoin arbitrage could make you a ton of money at any given day of any given week. And if you have nearly bottomless financial pockets, you can still earn a good chunk of money that way.
But therein also lies the problem : you need big money in order to make a lot of money on Bitcoin arbitrage these days. And who has this kind of money? The rich, the corporations, and the governments. There, I said what everyone thinks & no one seems to want to say out loud.
The Bitcoin price is being manipulated by the corporation and the governments. A lot of wealthy people already made the move from Bitcoin onto the next big thing, which are the alt coins, where the real money is to be made these days.
Don’t get me wrong, I’m pretty sure that a lot of money going around in the altcoin market is also coming from corporations and governments, because there have to be some clever people in those branches somewhere, right?
The reason why I’m saying that alt coins is where the real money is being made, is because , on the one hand, you have a lot of people with a lot of capital who will manipulate the price, but on the other hand, you also have the miners and the communities.
The alt coin market is still in our hands for the most part, and not in the hands of people who want to centralize everything. And this is where we have to make a stand, because once we lose the alt coin market, the “big” profits will be gone too for us, the so-called “plebs”.
With alt coin arbitrage, every day, there will be a chance where you can earn or lose up to 50% of your investment. Sure, it’s a hell of a risk to take, but then again, so was buying and selling Bitcoin for profits up until a few months ago.
Just look at any of the exchanges with any coins listed, doesn’t matter whether you know or even like the coin or not, there are huge spikes where a lot of money can be gained or lost. Why? Because of the diversification.
The alt coin market is very competitive, on the brink of becoming cut-throat, and it will remain that way as long as we keep control. In order to keep said control, we need to keep mining, keep trading any and all alts we can, and not go with coins that have a “better” chance of getting pumped compared to others.
Because that’s what pumps really are : us losing control over that coin. And it’s hard, in some cases even nearly impossible, to regain that control once a lot of us have given in to the quick and easy profits and losses.
Alt coins should never get pumped unless it is because of good things happening. Not because someone decides to dump $50k in a coin for no reason, but because we believe in it. We, the communities, make and break these coins, and we, the communities, should decide their fate.
Maybe I’m getting too hyped about the value of alt coins. Maybe I’m exactly right. Who will tell? But deep down, all of you know there is at least partial truth in what you just read. So ask yourself, are you going to stand up and fight for our alt coins? Or will you just become another corporate suit after taking their money?
This isn’t a “call to arms to fight the system” or anything. I’m just giving you my view on how these things are evolving. Control is slowly slipping from our fingers, and what really pisses me off, is the fact that no one seems to notice it.
Care to comment? Be my guest, any and all comments that do not include swearing and/or any relatives will be approved. Discuss it. Say what you want, open up discussions. This is what this “ranting” is about. Show me that you care, please.