Bitcoin Versus Normal Fiat Currency
The more governments manipulate their fiat currencies with inflation the less value their currencies have.
Bitcoin and other altcoins like it benefit every time there is another increase in the money supply of fiat currency.
I don't think governments are going to stop printing fiat money because their whole economic model is based on creating more currency and debt.
This is bad news for the countries that keep printing money but it's good news for those of us holding and using cryptocurrency.
As more people switch to using crypto the demand for fiat goes down and the value of the crypto goes up. There are so many additional benefits to using a crypto it is only a matter of time before a tipping point is reached.
I believe the blockchain will have the greatest impact on our future and revolutionize the world much as did the internet when it was invented.
Trust is built into the system without having to trust a central entity, government, or middle man.
Here's a video that will help explain it more.
Bitcoin(Cryptos) vs. Normal Currency | Things Are About to Change!
Do you own Bitcoin? Do you use it for transactions or are you holding it as a store of value?
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Both a store of value and to move funds. Transaction fees a bit high making it a better store of value but great nevertheless.
I've been living on it for some time now. It's great for zipping funds around the world and for traveling.
Why do you think nobody can manipulate the Bitcoin?
In the past governments like china did or tryed it already.
There are even some private people who are able to influence bitcoin.
They can manipulate the BTC/USD change but not how much BTC will be 'printed' each year.
It is not impossible to envision some future event where a controlling entity owning enough bitcoin to reach a consensus on its future, deciding more bitcoin should be mined beyond current limits.
But it wouldn't be done in concealment and therefore people could choose a different coin. We have options beyond bitcoin now. Governments that create too many restrictions on crypto effectively repel crypto start-ups from operating there. They just move to a friendlier location.
Because it is decentralized it is very resistant to control and manipulation.
I am unfortunately don´t agree completley your opinion.
Decentralization makes control a bit more difficult. And manipulation is also not excluded.
How, for example, do you name it, if I a majority overrule what the community has set before.
Nothing else has happened.
What is the decision of the developers that the bitcoin core client accept no longer nodes?
Ok most miners and Trezor und Ledger did a kind of manipulation if you want to name it like that.
The etherium fork was also caused by a manipulation when I call so.
Hi @luzcypher great post, i have been involved in the financial markets for the last 6 years and the scariest realisation I came to was that our fiat currency is backed by nothing and that each and every dollar that comes into existence steals value from every dollar that already exists. Meaning every dollar in existence right now cannot pay-down the debt. On the other end the idea of cryptos having a finite amount ensures the attribute of money , ' store of value' is held in the crypto over time.
@pndmfinance correct fiat currency is backed by nothing but how do you think bitcoin is backed?
how you expected bitcoin still to going this year .expected price.
Thank you for the post.
Look at this please 😉👌https://steemit.com/crypto-news/@inversor/stock-markets-analyst-projects-bitcoin-to-hit-usd7-500
I think it will break $5000 by years end or more. We'll see soon enough.
Everyone needs to see this video.
Great post, fiat is no more trustable than crytpos, and arguably much less trustable. Mileage on that statement varies per country. Some are more rigorous on treating currency with high integrity, e.g. Germany, Switzerland. Others have much less integrity on treating their currency with integrity, e.g. Brazilean R, Venezuelan Bolivar, etc.
My sentiments exactly. The real value is the trust people have in a currency and their willingness to use it. The real value IS the people using it.
Thanks for sharing. Great video. Very elucidating.
The best thing is the inflation with Fiat currencies which is not exist in Bitcoin :)
Great post , keep teh good work
i can't wait for the day when crypto currencies completely obliterate todays fiat currencies not only will it be a win for me and us all but it will finally allow the human race as a whole to start growing together once again