To those who think the decline of the Lira will boost the bitcoin price

You're probably right, but mostly in the long run.

At the end of 2015 my nation's currency, the South African Rand, lost 30% of its value in a week. That's when I first bought bitcoin - as a hedge against sovereign fiat collapse. I had value at stake, so I bought Mastering Bitcoin and began to learn. A few months later I sold all the equities I had in banking to buy bitcoin. Over the next two years I'd proceed to only save into cryptocurrencies. Now I work full-time in the field and live almost entirely off crypto, and I know many people with a similar story. Whilst those who brought us the moon and bought in December to get rich quick also panic sold quick.

These economic shocks won't create price pumps overnight, but they do teach people the lesson of why a censorship-resistant decentralised store of value is important, which will lead to long-term (in crypto-time) adoption.

Submitted August 19, 2018 at 01:57PM by cainethelongshot https://ift.tt/2Pnb9Ke