Why Crypto Currencies Will Change The World
The Dawn Of Crypto Currencies Has Arrived
As the world progresses and new discoveries happen so does technology and with the dawn of crypto currencies, this could very well be the beginning of a much larger advancement. In my opinion that is why crypto currencies will change the world. The fact the major banking industry worldwide is controlled and regulated so much it is nearly impossible to move money quickly without some sort of hold up. You may get the “approval” quickly but the actual funds take a while to follow, The guy with the stack of files on his desk and a coffee cup with a moose head on it has not processed your paper work yet.
So when you go to the bank next, keep an eye on the fee’s associated to your transactions and how long you have to wait send money to another bank or account. All the regulation of how you conduct your financial life. Anyone who has purchased something by borrowing money from a bank knows how long it takes to get your money in hand.
Crypo currencies have a few differences compared to traditional currencies. One is they are usually UN regulated though that is changing in some countries now as many governments and big business as well as corporations are seeing the value and potential and want to do like they always do and control it. Hey at least they are consistent. The other is the volatility. Yes that can be considered a con, but it is also a huge Pro. Anyone that has followed Bitcoins rise to prominence knows this. Just over a year ago Bitcoin was under $300 a Coin and as of this writing is over $8200 a coin, that is truly UN heard of for increased value.
True every cryptocoin and there are thousands will not perform as well as Bitcoin, many will however see a similar rise to prominence and more mainstream acceptance. Coins Like Ethereum, Dash, Bitcoin,Bitcoin Cash as well as a few others I left out have seen a similar rise in value as millions have gained a financial wind fall just by trading and playing them just like a stock Buy low cell high, that is why the volatility is fabulous since there are huge swings in value but they normally trend up.
Many companies and stores now except Bitcoin as a payment method and we are seeing other coins being excepted more as well. Companies like Microsoft and Amazon are either already taking steps to allow for transactions or are already doing it. My point is this is starting to become more main stream and not a “fad” as many so called experts like to claim. Many apps have options that allow you pay with some form of crypto currency.
Supply and Demand
As the acceptance begins to grow, so does the demand. The block chain technology used to power Bitcoin and other coins has proven to be robust and stable as a form of “public Leger” that contains all transactions. Not many people know this but Bitcoin has a life cycle and as of now there are no firm plans to change it. As to when it runs its course is a subject of debate, but my point is it will eventually be rare which means even more value as more and more people become part of the digital currency age. To me it is simple supply and demand will dictate that the value should continue to rise.
As more and more people get on board, the sooner the change will happen but in the not to distant future I see crypto currencies being the mainstream and traditional banking struggling to keep up. There is an entire generation of young under 30 people who will change this. They are born into an age of technology and instant information. They will lead the charge and we will see a huge shift in how financial transactions are handled. At first the big banks and governments will try to regulate digital currency, but eventually the volatility and value will drive past that and we will see the hay day of Digital currency.
There are potential issues that could hold up this transition. One being the fact that digital currency is 100% online so if proper security protocols are not used, many people will either lock themselves out of their own accounts by forgetting the security codes or their stuff can get stolen by losing their phone or other means. Also, there is a variety of information that can be confusing as to what currency exchanges are stable and worth using and trusting with your money. People will try a few before settling on a trusted exchange to house the digital wallets. As long as the security measures are used like 2 factor authentication at login and several other methods this will get to be the way we do business online
I look forward to a shift in how we all use crypto currency, and as we go into the future we will all be on an interesting journey of change and acceptance. Let’s ride the wave together
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