“Don’t invest in it, it’s a scam!”

“Don’t invest in it, it’s a scam!” The beautiful thing about setbacks Photo by Nicolas Cool on Unsplash Over the last 300 years, civilization has grown by leaps and bounds. It’s so interesting that what could not be achieved in 3,000 years was achieved in less than 300. There is a reason for that, but that’s not why I’m here. Consider how this change in the last 300 years have affected the lifestyle of people. And now look at today, and what kind of reality people have to face whether they like it or not. There was a man I know who loved business. He is well invested in stocks and encouraged others to do so. He introduced brokers to a lot of people. Then the 2008/2009 financial crisis happened. This was not the USA, this was a country hit more strongly by the ripple effect. The stocks got crazily diluted and they have not recovered to the 2006/2007 levels till date. You know how the man must feel. Not just for himself but for those who made losses on his recommendation. Fast forward a few years later, bitcoin came. He told me he knew about bitcoin when it was less than $5. He said no to it. Not a wrong call though, because he didn’t understand it and those who brought it to him couldn’t explain it properly. Perhaps if he did then, it would have been misplaced or hacked. But you know how volatile the crypto market is. After seeing some amazing drops, he concluded it was a scam. But there is a technology behind it! No one seems to care. The next thing I was hearing from my folks was: Don’t invest in bitcoin, it is a scam! When I asked them, how is it a scam? The only thing they can mumble is that it dropped so hard in value. Do you know what drives it? Do you know what problem it solves? Do you know how its value is determined? Do you know what the future holds concerning it? Do you know how it compares against other currencies? All they say is that it is a scam. And well, that’s fearful people for you. So here’s my question for them, now that you believe crypto is a scam, what are you going to invest in? The cypto world has had it rough so far this year. I got into the ecosystem around September 2017. Owning bitcoin or any other coin in itself is not an investment and I knew this from the onset. My focus was on the passive income. And so far, I have no regrets; I am in it for the world of the future. However, it is just annoying when you find people who look at the setback in the crypto world and judge based on it. The setbacks are actually good because they separate those who are interested in the long term growth and development of the ecosystem from the short term speculators who came in because of the up-spikes in prices. As for me, I plan to have 5 income streams before the end of the year. Only 2 are functional right now. Would add the third one this month. Strongly hope I can generate enough income to start travelling around the world from next year. Cheers!