When I first started learning about cryptos in 2016 it was all very new, but at least I was familiar with share trading and blogging, and had recently started using the Steemit blockchain for blogging and had also begun transfering the Steem crypto currency with some online friends. So I had some basic background to start from.
Now that New Zealand society, like in many other countries, has to some extent split into two – the jabbed believers, and the unjabbed underground, we (the unjabbed and our allies) are building up an entire parallel network with it’s own underground economy. At this point, transactions are mostly done in cash, but there are other potentially better ways to trade, and many people are now being rushed into taking an interest in cryptos.
These are mostly not computer tech minded people. In many cases they are newly unemployed (sacked for refusing the jab) but very practical and intelligent people who want to quickly get up to speed and start using cryptos.
At a recent underground gathering of 50 people, we got talking about cryptos – I was surprised that only about five had used cryptos in any capacity at all – but over 40 wanted to learn more. And it fell upon me to start the ball rolling. Although I’ve been using cryptos for five years now, I consider myself far from knowledgable. Cryptos are one of those things that the more you learn, the more you realise what you don’t know.
Geeks and investors are both coming from a different background to people who want to create a private and underground financial system under an oppressive and corrupt government. Which, I’m sad to say, New Zealand very definately has now. Most people have heard of Bitcoin, and that is about it.
When I started investing in cryptos, as soon as I’d set up my own portfolio I posted a summary of my crypto research as a blog post, thinking it might get more people into cryptos. The original Steemit post is still online here: www.steemit.com/cryptocurrency/@sift666/cryptocurrency-101 and it’s not half bad if I say so myself – it was a bunch of good picks, and I did very well from those investments. It’s still a pretty good intro, but I really do need to do an update, which I’ll post right here.
In 2018 I did an update to that 2017 post (Crypto 102), and one of the things I said was this:
“Move on from Bitcoin. It’s could be past it’s day and destined to become the Myspace of cryptos. It was the first coin we bought and the first one we ditched. While we bought it for $1k and held on to it right up to $17k in December 2017, I must admit I was starting to sweat and was relieved to dump it before it crashed. Now I think it’s more a religion than a cryptocurrency, but we did well on it!”
After writing that post I had the good fortune to buy Bitcoin again for $3k and then sell it for over $40K So despite often being fairly disparaging of Bitcoin, that has been one of my best crypto trades twice over. But a key thing is that I have bought and sold it, rather than just holding it. If the oportunity arises I’ll certainly try to do that again. But I don’t regard Bitcoin as a particuarly good cryptocurrency for practical use.
My updates for 2022 will be coming soon, and will be posted below: