Bitcoin vs. Normal Currency | Things Are About To Change!
In a blog I wrote a few weeks ago, I mentioned a gaming Youtuber named Austin Evans who has over 2 million subscribers. He released a video mentioning 'cryptocurrency mining' for the first time, which was intriguing for a few reasons. It meant that cryptocurrenices were finally getting out to not only financial enthusiasts, but gamers as well.
Fast forward three weeks later, and we have a Youtube channel with the name "Cold Fusion", who has over 1 million subscribers, talking about Bitcoin becoming the currency of the future. His channel focuses on things that are cutting edge to the world around us. In the video, he mentions the gentleman who held up a "Buy Bitcoin" sign behind the Federal Chairman during a testimony in June. He emphasizes the fact that more and more people are recognizing Bitcoin as an alternative to the fiat currency, especially in third world countries.
Please find the video attached below:
How Will Mainstream Coverage Affect The Market?
So as we have more people finding out about Bitcoin and other cryptocurrencies, we can expect a few things:
- New investors will enter the market for a chance to obtain high returns
- With the influx of new investors, comes increased volatility (more panic selling or FOMO buying)
- Big swings in the market from celebrities endorsing coins or coverage from news outlets
- More ATMs will be created to accept Bitcoin or other forms of payment
- New credit cards will tailor to storing different cryptocurrencies
- More countries will adopt Bitcoin as an alternative form of payment
- Companies will take advantage of the blockchain technology by making transactions more efficient
These are just a few changes I see happening in the future. We're still far off from having complete adoption from fiat currency, but we're moving in the right direction. Not to mention, Apple just accepted Dash as a form of payment on the Apple Store (article attached), in addition to the already accepted Ethereum, Bitcoin, Steem, Litecoin, Lisk, and Ripple. The more channels and news coverage that Bitcoin has, the more we'll see market prices rise. This is a change that's coming fast and has no inclination of slowing down.
Very informative, thanks for sharing
Thanks for reading! Glad you enjoyed it :)
It is amazing how fast crypt is growing. If only it was easier to buy with fiat without paying ridiculous fees and the painful verification steps.
I agree completely. That's one problem that cryptocurrencies are looking to solve. They're already being implemented in transactions around the world in a fraction of the time. Can't wait to see what the future holds!
Hey @cryptodata. Just followed you. new to SteemIt, so please check out our Bitcoins & Gravy podcast episodes we are posting to SteemIt. Your posts are informative, well proofread, and concise. It appears we need more of this high value content here. In regards to the overall expansion of crypto, a lot of my research has been showing an accelerated move towards implementation of blockchain applications which address #supplychain issues, especially including anti-counterfeiting. These are especially valuable in the developing world (where such counterfeiting is rampant, and whose risks are passed along to "developed" world consumers through international trade. Examples of this include : food items from "risky" sources (ex. chicken, pharmaceuticals, toys, etc. from China), high-end (luxury) retail goods which are manufactured overseas, etc. There are TONS of additional examples. Here is one article (of many) which expands on this concept :
High Fashion Meets IoT and Blockchain with BigchainDB and LungoTavolo
https://blog.bigchaindb.com/high-fashion-meets-iot-and-blockchain-with-bigchaindb-and-lungotavolo-14c25ae99c57
It is my opinion that this will be a MAJOR catalyst to the acceleration of global crypto expansion, as this "supply chain risk" issue has been a MAJOR obstacle to the PROPER expansion of international trade which will enable the global economy to get past the crisis we have been in for the past decade plus. As a result of my strong belief in this, I believe it would be advantageous at this point to invest in any cryptos which are at the core of such supply chain applications (ex. Ethereum) et. al. Just my two cents. Keep up the good work! @bitcoinsandgravy
Thanks for the thoughtful comment! I try to give out as much quality content as possible. You make a great point about crypto solving the "supply chain risk" problem in order to make everything more secure. I know Russia has already started using them to track meats and other food sources, so it won't be long before other countries pick them up for their own supplies. I look forward to where we go in the future and definitely think now is the time to invest :)