ZZhmgs.com is moving in a new direction. Bitcoin and Cryptocurrency are taking over the bankster’s turf and we are interested in keeping you informed as to some of the basics and changes happening in the marketplace.
We like to think of Bitcoin and some of the other Alternative cryptocurrencies as advances in technology and with the potential to peacefully revolution the way people all over the world communicate and interact. It is less of a vehicle for speculation in investment and more of a platform on which exchanges of value can proceed unhindered and without the oversite of a central authority.
….. and while, yes you can invest (and probably should) some money into Bitcoin, limiting your perspective of it to a vehicle in which to get rich on is just as short sited as seeing the early internet only as a place to make money on Yahoo stocks.
Bitcoin : The king of Crypto's
Litecoin : Silver to the King
BCash : The new Fraud
The Silk Road:
The early days for the Bitcoin wild west.
The Silk Road was a website operating on the “dark web” that made use of Bitcoin as a currency to do transactions. It was one of the earliest websites to employ the new currency, but it had one small problem. Almost all of its transactions were between people trading for illegal drugs. Essentially it acted as an online street drug pharmacy that provided international deliveries to the comfort of your own home. This forum attracted thousands of participants and ironically, before it’s shut down by the FBI, made the proposition of dealing in illegal substances a much safer idea.
Operated by, Ross William Ulbricht from 2011 until his arrest in 2013 under the pseudonym “Dread Pirate Roberts” the Silk Road was indeed very successful. Ross Ulbricht had an estimated net worth of 28 million at the time of his arrest. (Much of this was held in Bitcoin later auctioned by the state, and would be many multiples of that amount when calculated by today’s Bitcoin value.)
Bitcoin, much like the early days of the internet, was subject to all sort of derogatory associations. Like the early internet, it was considered a place used only by criminals, drug dealers, pornographers and other more unsavory elements of society. The Silk Road did not help the reputation of the cryptocurrency but it did add some use value to the early adopters of Bitcoin. Drugs are, after all, the second most purchased commodity in the world behind only food. So if your money can’t buy drugs then one has to question if it is real money at all.
The Ever-Changing Cryptocurrency Marketplace
The roller coaster called Bitcoin rolls along. With a current dip happening in all the crypto markets worldwide there is a lot of media giving unfavorable coverage at the moment. We would like to point out the anyone not taking a long-range view is doing themselves a great disservice. In order to understand what we mean by that it is important to get a better understanding of what is Bitcoin in the first place. We are not about to go into that here because others have done a good job already explaining it.
What we will say is remember what the mainstream media said about the internet when it was in its early stages of adoption or how early websites used to look.
We just want to remind people that this is a long-term game. Every government paper currency in history has gone to the price of zero, and the present currencies are very likely to do the same at some point in the future.
If you truly understand what Bitcoin is then you will see the current price as growing pains and an excellent buying opportunity.