Cryptocurrency
Cryptocurrency has gotten a bad wrap from day 1.. it is a little difficult to even fathom an intangible currency but is it really? This isn't the first time in history we had a currency change. Not to mention our instincts are always to be scared of what we don't understand.
I've been investing in the space for only a short time, it is an exciting time and the more my friends ask me about bitcoins and cryptocurrency the more i realize we are in a digital revolution. That's why i decided to dig up my old blog and get to writing.
Here is a history lesson in broad strokes... when man kind first traded, they bartered, your sheep for my chickens and so on. Then it went to rare seashells, ornaments and precious metals. Well, precious metals seems to have made it out of that era as the winning standard unit of wealth. As we moved into more civilized periods... banks were started as a way to store the bulky, heave gold .. a sort of safe haven for the gold. Then they started issues receipts for gold & silver.. After some time, they realized that people were not coming back for their gold but rather trading these receipts... and after some more time they realized that people were not coming back for their gold or silver so they started issuing more receipts for gold than they physically had in their position. So no longer was the gold standard accurate and fiat currency flourished. So Cryptocurrency is new, different, confusing and yes intangible but how much different is it from the transition of seashells to paper money? The conversion has been subtly being made for sometime now, apple pay, paypal, wechat pay, and so on. I have X in my bank account but really, i only keep cash for the miscellaneous food delivery, tipping someone and junk. All my real "banking" is done digitally and i never see the money anyways.
I believe, just like electricity, combustion engine, the internet, cryptocurrency will also change the world forever and in many ways become to catalyst to change human history forever. See, what you have to understand is more importantly than the currency aspect, is the blockchain infrastructure.
Wait, i think i should explain WHY i think that cryptocurrency will change everything... basically, it is a decentralized currency. What do i mean? Well, when things are centralized like say fiat currency, it can be easily manipulated, `
What's next? Well, only time will tell but just like everything else with technology, things will evolve exponentially by insane factors. All i can say is that im happy to be around with my eyes wide open to see the changes as they occur!
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