So, the next chance to purchase some z-cash shares from Bitclub Network kicks off in around 8 hours' time. And if you are taking the time to read this newsletter and you are still unsure about whether you should or you shouldn't buy then perhaps this will help.
The first question we must always ask ourselves is whether we can afford something or not. And that is one of the hardest questions ever to answer in life because it is multi-dimensional. What on earth could John be talking about (I hear you say)? Well it is a one dimensional yes or no choice if you literally do not have the cash at hand to make the purchase, that we all know but it is often more complicated than that.
What if you do have the cash available and it is available without you having to compromise your ability to pay the bills and meet your day by day needs. And maybe your interpretation of "can't afford it" really means "without using funds I've allocated for another purpose". Or, what if you are simply driven by the need to list and prioritise and you do not like to move things up the list unless they are tagged "emergencies".
What if you have a rainy-day fund? I know people who absolutely will not break into their "rainy day" fund and have faced major critical points in the past requiring cash and yet still persuaded themselves that this latest crisis did not constitute a "rainy day".
Most of what we do with money is driven by habit. We work with money, as we do with most things in life, within a "comfort zone". If we are not in the habit of using money for X then we simply will not use it on X without applying major force aimed at breaking that habit.
The bottom line is we should often weigh up so much more than the black or white one dimensional issue of having the cash at hand. Maybe, right now, I have a fund together that will go towards my next car, my next holiday, my new equipment I want relating to my hobby and so on. What then?
Purchases of anything, even financial products, are driven mostly by emotion. We want things, needing them is never enough. So, we should consider what we do for the future very carefully. What gives us the best chance to improve life later is a better question, in most instances, to the one about improving life now. But are we ever likely to WANT to invest in acquiring cryptocurrency? After all, some people, many in fact, still think it isn't real. What if they are right?
Unlikely, so perhaps if we could simply weigh up our options against each other, then that might be easier. For instance, if we want a future defined by more financial security than we currently have and, simply put, more money; then what can we do to get there? Invest in stocks and shares? Property? Government Bonds and Gilts? Forex? Put it in the bank (hehe).
Surely, one way or another in this day and age, in this new Internet Age, cash has to be in the line-up? Do you have faith in the current system? That is a good starting question...
Can you see this building interest in cryptocurrency or digital currency (if you prefer that expression) waning any time soon?
Are the world's major tech industries investing so much money, time and energy in crypto projects just in case?
Are ALL of the world's major banks carrying out their own research into blockchain technology because they just feel like it?
Do the things we WANT outstrip the value of the things that could help us to become more financially secure?
Well they can certainly make us feel better and, of course there is a value in that. Our biggest problem with making the right choices on future financial security is FEAR. If we're honest, it is always about that. What if we could have bought that car six months earlier than we did but, instead, we made a poor financial decision about the future and it went wrong? Do you have regrets about action you did not take in the past that would have turned out very well? We often dwell more on those than on the poor decisions we dodged.
Ultimately, you must decide what you consider best for your future and I wouldn't dare to suppose I could ever or should ever influence that. All I can do is help you with the detail about decisions relating to the world of Bitcoin, Cryptocurrency and where it is all going.
I cannot and will not tell you that Z-cash is the absolute best bet for the future because I simply do not know what will happen. It COULD all go pear shaped. Also, I have always believed, and still do, that Bitcoin is my best hope for future financial stability. But none of us should be backing one horse alone. That is asking for trouble so maybe Z-cash might be a good addition to the mix.
Either way, you should approach anything speculative as if you stood a chance that you were going to lose the investment made; otherwise you will always be second guessing your decisions.
So, my view on the Z-cash share launch was simple and formula driven in a way:
1) Can I afford to buy some Z-cash share action right now? 2) If Z-cash becomes just another wannabe is there a back-up plan? 3) If it all goes horribly wrong, will I survive it in good order?
I answered those questions, YES, YES and YES.
I will dwell a little on question 2 because this is something easily missed. Pretty much every digital coin worth a light out there is mined using equipment that we, as Bitclub Members, have invested in. The reason they can offer those holding Ethereum mining pool shares the opportunity to switch those shares (that mining power) to Z-cash is because Bitclub have sensibly invested in a lot of this GPU based kit.
And they can switch, if necessary, that focus on Z-cash in the future to another brightly shining star should one emerge that looks even better or Z-cash proves to be a flop. Who knows what the future holds. We can only deal with the facts presented to us today.
And here are some interesting facts:
Before Z-cash came along, the most startling first day performance by any new crypto would have seen the price hit $5 and then drop. Bitcoin started its journey with a value of $0. Z-cash (a ZEC) hit prices on launch day that aren't even worth printing here because they are too outrageous to believe.
Let's just say they were well in excess of $10,000. The real top price recorded on one of the exchanges on launch day had 2 more zeros -seriously. And yes, that was totally ridiculous. But of course, on launch day they were prices for tiny fragments as no-one had any Z-cash worth mentioning. The first GENESIS block got mined on 28th October, on the launch day.
Now, after the amazing excitement and euphoria over the z-cash launch has abated the price is a mere $750 as I write. But of course, it could (it should) slip away to normality in the weeks and months to come. But what if it did somehow manage to stay at those levels? What if, 1 year from now it really has stabilised at $100's or even $1,000? If I didn't have mining share interests in Z-cash at those prices, knowing that I could have had, well, I would feel pig sick to say the least.
Why has Z-cash so excited the imagination amongst "those in the know" about crypto? It is the purest Bitcoin alternative yet that even manages to go even further than Bitcoin ever did on the anonymous purchase line and therefore on total security.
Imagine a world where you could never be subjected to identity theft or have your funds stolen or have people, authorities, scrutinising your every financial transaction and you are looking at the potential world of Z-cash. That's it, that's what it is all about.
Do the things you WANT align with the possibility that this particular cryptocurrency could help you to get them? |
