Why is Everyone So Excited About Cryptocurrencies? - The 3 Most Important Reasons EXPLAINED!
For more than a year now one of the hottest topics of conversation whether it's socially or financially is cryptocurrencies. What started with Bitcoin and largely remains there is perhaps the most consequential, and substantial industry to emerge in our lifetimes.
Although there are significant hurdles along the way that will constantly threaten whether these new forms of money, transactions, business models, products, and services can push out companies and old ways of conducting business, but there's no doubt that the excitement and enthusiasm people are feeling all around the world is real.
Only time will reveal what their real place is in our society and in our lives. But what is it that has everyone so excited about their potential, and why are so many average people enthralled and active in the cryptocurrency space?
1. Cryptocurrencies offer freedom
At the heart of all cryptocurrencies is the promise that for the first time in your business and daily lives you'll be able to clearly see and understand what is actually happening with one of the most important areas of your life, your money. Blockchain technology offers anyone in ability to have a look directly at what is happening behind the scenes of a currency. It is literally impossible for anyone to hide what's going on. Yes there's always the opportunity for manipulation and people being tricked, but these issues will disappear overtime as the proper controls are put in based on trial-and-error experiences.
Too many people have found that what they've been promised by a government, an employer, and those in charge, just hasn't been the truth. As a result they constantly being misled, leading to negative circumstances in their lives. In short, people want to know what the hell is going on.
Their trust has been eroded over time as they have done everything that was asked and still have not don’t receive what was promised. This has opened the door for cryptocurrencies to gain a foothold. They stand on transparency and consistency, delivering to users a sense of freedom and certainty.
2. Cryptocurrencies allow people to get in on the ground floor
The common person understands that the rich get opportunities that they will never be aware of. As an example, any of us can purchase shares in Facebook at today's current market price, but only the privileged were able to get Facebook shares before they came onto the market.
These shares were sold for a tiny fraction of what the public had to pay when Facebook went public. The average person does not understand how this is fair. Cryptocurrencies offer the average person an ability to purchase an interest in companies nearly from the day that they are conceived. There is no preference given to those who have more money or are insiders. As a result, the cryptocurrency industry is creating hundreds and even thousands of new millionaires. The more people who see the stories, the more interest cryptocurrencies attract new believers.
3. Cryptocurrencies challenge the old guard
In every industry there is a large group of very powerful companies that control that industry. These companies are not accountable to anyone except perhaps a government. But governments are run by politicians and nearly always in the pockets of these business owners. Therefore they have heavy influence on the laws that get created which work toward the benefit of these companies and too often against the benefits of the individual.
This scenario frustrates the average person and that frustration has grown consistently over time. Cryptocurrencies offer a release valve for people who have these frustrations and want an alternative that works in their favor. The vast majority of the companies at the top and middle of the cryptocurrency space, are run by common people who have a great idea and who want to see positive change. People recognize this and are in love the prospect. As a result cryptocurrencies not only get financial support by average people, they get emotional and even spiritual support as well.
These factors make the growth of cryptocurrencies almost assured. It can be argued that many of the companies, the business practices, and the individuals, may not remain over time, but what can't be disputed is that the industry is real and destined to be a part of our future.
In other words, we are all part of a revolution!
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Yes, cryptocurrencies has so much potential! Im glad that I'm part of it :)
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Thanks.
The promise of big returns overnight is what attracted people to gravitate toward cryptocurrency. I wrote about the importance of Bitcoin for the survival of the whole cryptocurrency family.
Thank you @introvertspeaks there is no doubt that the lure of money is a strong incentive, but people are also investing which means they must trust before they give their money. Let's help to build a strong industry so we can all participate in the wealth. Good luck to you and thanks for commenting my friend.
You're welcome my friend!
This is my first article of yours that I'm reading and I'm so glad to have found your blog. Yes, all so true.
Though the SEC is trying to thwart benefit #2 here in the USA. They want to only allow "accredited investors" (aka rich people) invest in ICOs. That's where the biggest gains can be found. But even if they do that, there is still so much upside potential a bit after the coins come onto exchanges. Not as good for returns, but at least you know you're investing in a coin that made it onto a decent exchange.
Thank you @indigoocean I am flattered and honored and following you too. Yes you know how it goes. The government will always try and regulate things and the exiting infrastructure which is aimed toward those who have almost everything already will seek to have thier interests protected. You are also right that there are lots of gains to be made even after coins get on the exchanges, but if they get bidded up to high that might not always be the case. I think the best thing we can do is to stay active in the industry so that there is no choice but to let it continue. This is one of the reasons I am here every day. Learning more and being active while I do my best to support it all. By the way I am also from the states but live in Thailand or the Land of Smiles now. Stay in touch and I will check out your posts too.