July 20, 2024

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BTC Hasn’t Dropped, Price Has Fallen » Crypto Insiders

BTC Hasn’t Dropped, Price Has Fallen » Crypto Insiders

It’s time to talk about Bitcoin (BTC) price† On the night from Thursday to Friday, Bitcoin price made a huge turnaround. For many newcomers, moments like this often cause panic and uncertainty. Was it done with Bitcoin† Even Arjen Lubach dedicated part of his program for this week. Lubach threw a fragment into the air titled “And now it’s over with encryption”, and then with some superficial arguments Announcing the end of bitcoin. I still agree with him that “crypto” is bullshit, but bitcoin has value in my opinion.

Well, the US Federal Reserve is pretty much busy raising interest rates, all financial markets are in limbo, bitcoin price has been hit hard, and Arjen Lubach is trying to declare bitcoin dead. People who have been around for a while are now familiar with this mess and know how to distinguish between signal and noise. All the bullshit that humanity produces is generally noise and the cheerful tick of the Bitcoin blockchain is the signal.

Bitcoin never changes

The nice thing about Bitcoin is that it hasn’t changed drastically in its entire history. This means that with the software launched by Satoshi Nakamoto over 13 years ago, you can still download and verify your entire transaction history. The world has changed a lot in 13 years, but bitcoin is still exactly the same. This is exactly the power of Bitcoin. It is a form of money that always stays the same.

The limit of 21 million units cannot be changed by anyone and the rules within the network are the same for everyone. This has been the case for 13 years and that will never change. In a world where yet another crazy event follows, something about bitcoin’s resilience is very valuable in my view. Bitcoin for me is the way I keep my savings in peace. The price of Bitcoin can fluctuate significantly in the short term, but I am sure my percentage of the pie will never go down due to inflation. The price in the short term is a distraction and part of the noise. It’s about pointing and eavesdropping on the blockchain.

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Get started with Bitcoin

Been there during the past running bull Lots of new people have arrived who may have been a little shocked by the price trend. This is unfortunately part of it. My advice is to start with Bitcoin. Listen to podcasts, learn about the cash register, run your own node, play with the Lightning Network and learn how Bitcoin works.

Once you see that Bitcoin is a fortress, these short-term price fluctuations don’t affect you much right away. Then you can also let characters like Arjen Lubach talk softly, because he obviously doesn’t have much knowledge about it. Try explaining to someone in Argentina or Turkey that stripping the government of the money press monopoly is a bad idea. For most numbers, it is easy to scream from their Western bubble that we enjoy the luxury of a relatively stable currency. Although the gaps in the purchasing power of our money are becoming increasingly painful. In fact, it would be foolish to argue that it would be good to have a form of money where no one has a monopoly on money journalism. Anyway, we can read from the current price that a large part of the world does not yet understand Bitcoin. I keep calm, only when the blockchain stops working will I start to worry.