Cryptocurrency is the future present
1 Bitcoin is currently worth $1000+
This value is based on speculation, similar to how our inherently valueless printed paper, pressed metal, and digital ones and zeroes are speculated on.
Unlike these inherently valueless currencies (which are part of the reason our economies are a bag of shite) the value of cryptocurrencies can be mathematically calculated.
Each Bitcoin is in fact worth $1-5 million dollars. This is one of the reasons Bitcoin has kept climbing in value despite the blockades by various governments, and the smear campaigns by various dying financial institutions who claim cryptocurrencies are a pyramid scheme (despite their reasons being more so applicable to our inherently valueless printed paper, pressed metal, and digital ones and zeroes).
Cryptocurrencies are decentralised and not owned by insititutions or governments. The Indian government recently removed the majoirty of notes from their society, reminding us that the inherently valueless money in our wallets does not belong to us. Cryptocurrencies are by the people and for the people.
They are currently still affected by our outdated ideology of speculation, but the mathematically backed value has kept them strong and a growing force.
The impact of cryptocurrencies will give rise to Universal Basic Income (on a small miniscule scale we can already see this with various cryptocurrency faucets set up), and will see the fall of the financial institutions and corrupt leeching governments that have ravaged our world.
Cryptocurrencies have transformed our world and will continue to do so regardless of the misinformation and attacks thrown at it by the dying old rule of old money.
Steemit as a social platform has changed the way we social media. It has opened up new avenues in how we work together and communicate. As the site develops it will become something not yet imagined.
Since there is nothing in the world which is permanent whatever exists must eventually be overcome by something else which comes along.
I am become time, destroyer of worlds - Steemit
We continuously reinvent, building something stronger, more powerful, on top of what went before. (Such as Steem having the fastest block time record and being integrated into a social media site). In this way cryptocurrencies rise above the value of the masses until they arrive at the top, and being superior to any other they serve as the guidelines for the rest of society.
@RiskDebonair
Irish Writer, Poet, & Lover
I truly hope that the steemit concept of combining social media and money generation and re-distrubution will work in the long run.
As for Bitcoin I think it might have similar vulnerabilities as other monetary systems. Bit by bit the money will be more and more concentrated in fewer and fewer hands. At the moment can those who own mountains of fiat currency also buy up mountains of bitcoins, they also might own giant processor capacities in their financial centers to mine more bitcoin.
That's true about bitcoin. But ff those with fiat money buy up more and more bitcoin, they increase the price of it, causing a re-distribution through those who already have bitcoin. If bitcoin reaches $1-5 million per coin, that's already a fat re-distribution of wealth amongst those who possess bitcoin. And if bitcoin becomes adopted by the mainstream it opens up the door more for other cryptocurrencies, killing fiat in the long term and pushing towards re-distribution despite attempts to monopolise.
Who knows what will happen though. Interesting times 😊
yes, interesting times we're living in...