by [Author Unknown] (edited by Andre/Admin knowhowtoearn.com)
A lot of monkeys lived near a village in a faraway country.
One day, a foreign merchant came to the village to buy the monkeys.
He announced that he would buy the monkeys for $100 each.
The villagers thought he was mad, but they were glad.
They thought, why would anybody buy stray monkeys for $100 each?
Still, some villagers caught a few of the monkeys, gave them to the merchant, and the merchant paid them $100 for each monkey!
This news spread like wildfire, and more villagers caught more monkeys to sell to the merchant.
After a few days, the merchant announced that he would start buying monkeys for $200 each!
Even the laziest villagers now ran around to catch the remaining monkeys, and sold them for $200 each.
Then, the merchant announced that he was willing to now buy monkeys for $500 each!
The villagers started to lose sleep! They caught six or seven monkeys, which was all that was left, and got $500 for each one.
The villagers were waiting anxiously for the next announcement of payment for the catching and selling of monkeys.
The next day, the merchant said he was going back home for a week, and when he returned he would buy monkeys for $1,000 each!
The merchant asked his employee to take care of the monkeys he bought until he returned.
So, the merchant went home, and the villagers were very sad, because there were no more monkeys left for them to sell at $1,000 each.
Then, the merchants’ employee told the villagers that he would secretly sell them some monkeys for $700 each.
This news made the villagers very happy, because when the merchant returns, he will buy monkeys for $1,000 each, so there will be a $300 profit for each monkey!
The next day, the villagers stood in line near the monkey cage to wait for the employee.
The employee came, and he sold all the monkeys to everyone for $700 each.
The poor villagers borrowed money from local money lenders, so that they were able to buy some of the monkeys.
Even the rich people who lived in the surrounding area had heard the news, so they also came, and they bought monkeys in big lots.
The poor villagers, and the rich people, took care of their monkeys, and they all waited for the merchant to return, because the merchant had promised to buy their monkeys for $1,000 each.
After waiting a week or two, the merchant still had not returned.
So, the poor villagers, and the rich people, all went to find the employee for an explanation.
But, the employee was now gone too!
The rich and poor then realized that they had bought the useless stray monkeys for $700 each, and were now unable to sell them.
This all sounds very similar to Bitcoin. If the price goes up, what can you do with Bitcoins? Maybe you can sell them to someone else who thinks that the price will go up even more? Also, what do you do with your Bitcoins when they fall in value? Yes, you can Hodl them, but for how long?
Each individual bitcoin/altcoin/cryptocurrency owner will have to answer those questions above for themselves.
However, just like the poor villagers, and the rich people, who participated in “monkey trading”, bitcoin trading will bankrupt a lot of people, and make a few people filthy rich.
Note: This story is basically about a clever scam, but it is also a motivational message about making the right move at the right time.
PS: Digital currency is a passion for the traders, investors, creators, and writers who participate in one way or another. Sometimes you will win, and sometimes you will lose. Also, sometimes big players lose, and small players win. On the other hand, it is also true that: “If you are not in it, You can’t win it.”