Why CrytpoCurrencies are not in a bubble!

in #cryptocurrency4 years ago

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It dawned on me the other day, that we are in the midst of the biggest financial miracle since the dot com bubble. Now, I am not saying we are in a bubble but we are entering into a world where money no longer represents what we thought it did. Back in 1998 stocks were all the rage everyone was entering into the stock market trying to make a quick buck. Then in 2000 everything went sour; companies went bankrupt and life went on.

What was left was what we have today- the Internet. The internet provided a pipeline for companies such as Google, Facebook, Snapchat, and Apple to come out and become that 500+ billion dollar company we know today. The exact same thing is happening today. Currencies are turning into the stock trading wild wild west of the 1990s.

As we enter in 2017, currencies are surging to an all time high. The interesting thing here is that many people are still in disbelief that bitcoin is at $2000+ outpacing the price of gold by a large margin. The news pundits are always running articles about how bitcoin is used by drug dealers and criminals. It is as if they dont quite understand that these currencies represent a paradigm shift in how we use money.

I clearly remember that when the Internet first started people were mistrustful about sending email or personal information online. Many people didn't take the Internet seriously, at first they thought it was a nice novelty item that only children used to do homework or look online. Little did they know that the internet changed everything.

The world of crypto currencies represents the birth of a different internet. It is basically the evolution of how information is now delivered and valued. Information will move from being a commodity to one of value. The perfect example of this is how we migrated from using paper cash to credit cards. Every time we swipe the card at a store we transmit information that represents value into a box that then deducts money from our bank account. We never really physically touch it, instead the information is stored somewhere in a server.

Cryptocurrencies take this concept one step further and force people to think of money as a "contract" that travels much greater distances. Imagine paying someone in Asia within several seconds? A few years ago this was unthinkable to imagine that money a store of time and value can move across walls and countries within the blink of an eye

We are experiencing the largest financial shift the world has seen and it is rapidly expanding at an exponential rate. The big question you want to ask is...are we in a bubble?

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We are at this stage past innovators phase and moving into the early adopters. The mainstream media along with our traditional institutions do not take currencies seriously. What you are witnessing right now are people like you and me who are dipping their toes in this pool and experimenting with this technology. Its therefore my conclusion that if we hold on we may yet to reap the biggest rewards possible both monetary and technological.

Cheers!

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Really loved the article. Thanks for confirming a lot of things for me. Keep it up!

Very nice!