Is Cryptocurrency The Next Gold Rush?

Is Cryptocurrency The Next Gold Rush?

Is Cryptocurrency The Next Gold Rush?

The cryptocurrency revolution is looking more and more like the gold rush back in the 1800’s! People are becoming hysterical and placing money into risky “fools gold” coins!! Do you think cryptocurrency is the next gold rush? We most certainly do! If we look at bitcoin and compare this to gold and look at Ethereum as a secondary gold at this point in time. We have plenty of people who have made millions off Bitcoin and also Ethereum. Once this news got out to the general public people have gone crazy in search for the next bitcoin….. Its the Wild West out there, with very little regulation and rules around ICO’s people are getting fooled all over the place!! I don’t believe we need Government regulation to solve this problem, we need community driven regulation!! Its time to say goodbye governments, we are more then competent to take over their role as a community and use things like Ethereum to vote for community issues. I believe Brazil is already looking into this!! Viva the revolution!!

“A complete mental madness appears to have seized almost every member of the community. there has been a universal rush to the diggings”

Bathurst Free Press

Cast your mind back to around the mid 1800’s there were gold rushes starting everywhere, people were hysterical. People travelled from all over the world to be in countries that had gold!! Once a few found gold then everyone had to get their piece of the pie, which is fair enough. The problem is when things get hysterical people don’t think straight!! The money goes to their heads and they start making speculative investments on gold discovery without really researching the facts and checking to see if the gold is real. We call this the “Fools Gold Syndrome”.

Back in the day during the gold rush, people started to claim they had found gold, they did everything they could to make a quick buck!!! People even created fake gold and made it look like golf on the outside, our when you broke into it the gold was not real!!! Does this sound familiar to you?? Yes I believe we have definitely hit the “Gold rush” point of the cryptocurrency revolution!! What does this mean? It means that its extremely risky and highly volatile for most people, unless you are in on the great coins the ones that will survive the first crypto crash you could be wiped out!! Be careful be very careful.

“This perhaps was what lay at the root of the hysteria surrounding what came to be known as the Gold Rush: Men desiring a feeling of fortune; the unlucky masses hoping to skin or borrow the luck of others, or the luck of a destination. A seductive notion, and one I thought to be wary of. To me, luck was something you either earned or invented through strength of character. You had to come by it honestly; you could not trick or bluff your way into it.”

Patrick deWitt

Lets now relate this to cryptocurrency so we can all learn a little more about the similarities of the gold rush. There are definitely coins out there, including ICO’s that are scams and they have simply written a whitepaper, built a website, pulled together half a team and made everything really shiny especially the website!!! Some of these people throw tens of thousands of dollars at marketing campaigns just to create a unrealistic hype that can’t be sustain past the initial ICO time frame….. The project dies because know one is passion about it, they were all in it for the money!!! Wow yes it is true!!! Time will tell and revel all that is happening behind the scenes of cryptocurrency. Do your own research!! Or you can join us to help you make decisions, we supply the info you make the decisions!!

Written by

Peter Murphy

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