Bitcoin Is Put in Jail, Altcoins Are Still at Large
Preface: Recently, as Eth price ↑↑↑↑↑, many Ethereum enthusiasts become rich overnight. A bitcoin holder(ZY), however, lost his mind. He started typing words like”I feel sad to see others get rich “or “I’d rather lose money than see others get rich” in a bitcoin group.
No matter what others said or how we comforted him, he continued tying” I’d rather lose money than see others get rich”.
The thing is ZY has been an active eth opponent. Whenever there are people saying something nice about eth, he would show up and bad mouth eth. And we dubbed him an eth-troller.
However, it seems like the more ZY insults eth, the higher eth price is. And some guys in the group jokingly said that:
“From now on, I’m gonna support whatever ZY opposes. If he opposes doge, I’d buy doge. If he opposes ripple, I’ll buy ripple.”
As a kind person, I wouldn’t be so cruel like guys did to laugh someone who is so miserable now. So I called him,just want to make sure if he is OK. I thought it was just a random chat with a stranger, but turned out it became quite something like an interview with a bitcoin holder.
We talked for hours. He shared a lot of his stories with bitcoin.
“ZY, are you OK? Why you keep saying the same word.”
“I am not OK. I only earned a little from bitcoin and those eth investors have earned insanely!”
“So you mean you didn’t lose any money. You are just sad because other people are making big money?”
“I know it sounds unbelievably selfish, but that is actually how I feel now.”
“OK, I hear you and I judge you. BTW, when did you start invest in btc?”
“It was on Dec. 2013 when the CCTV, or China’s central television, reported bitcoin and called it a Ponzi scheme. And I told myself if CCTV said bitcoin was bad, then I should believe that there are opportunities in it. I should do whatever the central government doesn’t want me to do. At that time, the price of per bitcoin was 8800 yuan. I started mining altcoins like litecoin and XCP and waited for a good timing to buy bitcoin. Later when the price dropped to 1000 yuan, I started buying bitcoin. ”
“What do you mean by do whatever the central government doesn’t want me to do?”
“The ruling class wishes to enslave and control masses of people. If they tell you not to buy house, then buy house; if they tell you not to invest in bitcoin, then buy bitcoin.”
“So, you have been a bitcoin hodler for four years, is there anything or anyone that is most impressive to you?”
“When I first started mining altcoins, I met someone who mined a lot of altcoins and got really, really rich. But he loved gambling and lost everything. Now as the price of almost all altcoins are rising, I heard that he becomes rich again. You see, money comes, money goes. You never know.”
“A lot of my friends are buying cryptocurrencies, but they are hiding it from their family. Is your family supportive of your investing in bitcoin?”
“I never told anyone around me about it. I just don’t think they will ever understand it. So why bother?”
“It’s been a while since segwit was activated on litecoin, but its price seems quite flat than what we had expected. Other altcoins like ETH, Ripple, NEM are going crazy. What do you think of it?”
“I guess it’s partly because bitcoin and litecoin withdrawals are suspended and partly because the stock market sucks. So a great deal of money is pouring into the cryptocurrency market. But I bet there are more reasons behind it.”
“Among all the coins, which do you think stand a chance to surpass bitcoin?”
“Bitcoin is irreplaceable. Ever since the inception of bitcoin, it has died at least hundreds of times. When litecoin, or bitcoin’s silver was born, some claimed bitcoin was so over for litecoin could confirm transactions faster than bitcoin. And now as bitcoin is subject to regulation and the scaling problem, there are people spreading news saying bitcoin will die all over bitcoin forum and community. actually, I believe when Ethereum’s transaction volume reaches that of bitcoin, it will be more congested than bitcoin.”
“Rumors say new rules and regulations will be released in June and exchanges will resume bitcoin withdrawals. What do you think?”
“Me, I think it’s real. When the PBOC suspended bitcoin withdrawal, it didn’t expect OTC bitcoin trading would grow exponentially. Plus, I don’t think they would have expected that altcoin price is rallying. It’s like they put bitcoin in jail and set altcoins free.”
“It’s pretty late now, I’m just gonna ask you one more question. What is your goal? Do you just want to earn money or you love bitcoin and see future in it?”
“I am now working on my WeChat account sharing article about investment. I love bitcoin and I hope long live bitcoin. and I believe that it’s much easy to get rich by investing in bitcoin than starting up your own business.”
“Some economists say bitcoin will lead to wealth polarization. What do you say? I promise this is the last question.”
“It’s nonsense. I know some economists say bitcoin is deflationary bias just like gold. But actually bitcoin and gold are not the same thing. And wealth gap is already happening under the current monetary and banking system. The main reason for the polarization of wealth is fiat money.”