Why it makes sense to go into cryptocurrencies as a vegan

The full article was originally published by Philipp Blum on Medium. Read the full article here.

Hi my vegan friends. I did not talk about my veganism for while. I’m vegan for around 9 years. So, I want to talk about an important topic with you: Cryptocurrencies.

I’m in the Cryptocurrency market since November 2017. I had emotional first weeks, but I want to talk with you about my experience and reasons.

First of all, I want to answer the question: What about mining? Isn’t it destroying our planet even more?

Yes, mining is the worst topic about Cryptocurrencies. That was also a reason for me to not join this market. Until I read about IOTA. This currency does not have mining at all. There is just a fixed amount of coins. And this amount does not change.

So may ask now: How does it work then?

That’s basically really simple. When you do a transaction, you have to validate other two transactions. You connect your transaction to these other two transactions. After that you just wait until other transactions validate your transaction. After a while your transaction will recognized as validated within the network. That system makes it really scalable and this system is totally different to the Blockchain. IOTA calls it Tangle.

So: What about fees?

That is an interesting topic: There are no fees at all! And I think that is great. For two reasons:

  1. Fees motivate people to create monopoles. So that they can get all the money. And that is currently happening with Bitcoin, Etherneum and other Cryptocurrencies.
  2. Everybody should have access to the financial market. I want to have world where everybody is able to have a bank account. And even more: Where everybody can sell on the global market. Why do need a farmer a middleman? Why can’t I buy directly from him.

Okay, sounds nice, but how about losing money. Isn’t it a bubble?

Yes, I think so. I think the probability is really high that it will burst someday. But why should you invest then? That’s simple: I think it’s too earlier that this bubble burst. We had a down in December/January. And it felt not nice to have a portfolio of -50%. But I just bought more IOTA. So, now I’m around +90%. Way better. Nevermind. The market had a huge drop. Normally you would call this drop crash. But interestingly: The worlds economy didn’t felt anything about this. I think Cryptocurrencies will be the next bubble. But the banks are still not invested. Not yet. They will, because investment bankers are greedy. And currently there is a lack of opportunities for them to make big money. Cryptocurrencies is a growing market. So, I basically think that banks will push the price even more.

So, but should I get in as a vegan then?

There are many reasons for it. But I give you my two main reasons:

  1. Better you have the money than some getting rich fast guy with an Ferrari. I would like to see more rich vegan people. More vegan people in good positions to change the world.
  2. To have an impact on this market. We are currently in a phase which defines which Cryptocurrencies will win later. So you can influence which Currency will be used in the future.

Last words about this article:

If you decide to put some money into this market, I highly recommend you IOTA, because of many reasons. Nevertheless: This market is involves many risk. So, please just use money which you can lose completely. This might happen. Be responsible.

The full article was originally published by Philipp Blum on Medium, where people are continuing the conversation by highlighting and responding to this story. Read the full article here.

You might also like

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. AcceptRead More