Forbes Journalist Says Get Used to Bitcoin’s Bipolar Tendencies

Forbes Journalist Says Get Used to Bitcoin’s Bipolar Tendencies

If bear markets terrify you, take some advice from an experienced economic researcher and editor at Forbes who bought Bitcoin for $14. Things are far more serious when youre charged for Bitcoins price oscillations.

An Intellectual Affair

Jeffrey Tucker knows his money. Not strictly as an entrepreneur, businessman, or trader, but as a researcher of financial innovation. His attraction to Bitcoin (BTC) [coin)price] and cryptocurrencies was only natural.

My interest was purely intellectual, just as my fascination with money as a topic had been since I first bumped into the subject []

Perhaps not all traders will empathize with this, but as someone who knows finance and banking inside out and loathed government-issued currencies throughout his career learning about a viable alternative to money was the ultimate intellectual turn on, according to Tucker.

Supporting Bitcoin in a World of Haters and Amateurs

Tucker advocated for adoption before many other journalists and famous aficionados emerged. You would think that made him popular. His articles proved to champion a worthwhile project that increased more than 300 times in value since he started doing it. Things are radically different if thats what you expect.

Tucker was instead seen as a shill. When Bitcoins price raised, his critics said that he was blowing the bubble on social media. When it dropped, it was even more of a drama not even Tucker expected that to happen. Think of Tucker’s words whenever someone tries to dismiss you when you tell them about crypto:

I was mistaken for being a stock picker of sorts, not because of anything I wrote but because many people are too intellectually dim to imagine that a financial technology can be admired for its architectural beauty completely independent of its price.

Do You Think It Has Utility and It Works?

Then think about that and forget about the price. This is about the long term. This was the advice Tucker valued most when Bitcoins price first fell by more than 50% following the end of 2013 rally. Everyone is familiar with advice like this nowadays, yet its just as hard to live by them as it was for Tucker in 2014 (when Bitcoin fell from $1,150 to $200).

In the Tucker’s own opinion, price itself is not really the point. Cryptocurrencies have an untrustworthy volatility that does not reflect their utility and besides, the industry is still in the testing phase.

The range of time to think about […] is in terms of 5 and 10 and 20 years. […] Year over year, Bitcoin is up from $4K to $6.5K, a 62.5% increase, which easily beats the Dow increase of 18%,

These Tucker’s conclusions. However, because humans are used to thinking in terms of trends rather than big pictures, many see 2018 as a catastrophe even though on past occasions the market has been worse and still recovered.

What are your thoughts about Tucker’s suggestion that cryptocurrencies should be thought of in the long term?

Images courtesy of Forbes, Shutterstock.

The post Forbes Journalist Says Get Used to Bitcoins Bipolar Tendencies appeared first on Bitcoinist.com.

16.09.2018 / 15:05 62
Keep Your Hands Off Cryptocurrency, Economist Tells World Governments Keep Your Hands Off Cryptocurrency,
Prominent economist and editorial director of the American Institute for Economic Research (AEIR), Jeffrey Tucker, has urged governments and central
Researcher: Bitcoin’s Value Proposition Still ‘Massively Underpriced’ Researcher: Bitcoin’s Value Proposition
Bitcoin may still be significantly undervalued due to mainstream investors missing its value proposition, a Swiss researcher has concluded. ‘Only
New HOB Podcast: Ver’s Sci-Fi Novel Life, Voorhees Buys Tucker’s Tie for $72k New HOB Podcast: Ver’s Sci-Fi Novel
Humans of Bitcoin (HOB) is off to a rousing start in its second season on the Bitcoin.com Podcast Network, diving deeply into Bitcoin pioneers over
JP Morgan Chase Sued Over High Crypto Purchase Charges JP Morgan Chase Sued Over High Crypto
JP Morgan Chase & Co. finds itself in court facing a lawsuit that accuses the bank of usury stemming from a customer that used his credit cards
IPCHAIN Database: Protecting Intellectual Property with Blockchain IPCHAIN Database: Protecting
IPCHAIN Database represents a unique use case of Blockchain technology and ensures the optimal protection of intellectual property – thanks to the
Huaweis Patent For Blockchain-Based System To Protect Intellectual Property Unveiled Huaweis Patent For Blockchain-Based
Chinas Huawei has filed a patent for a Blockchain-based verification system to protect intellectual property rights for digital content. A
Comments (0)
Add a comment
Comment on