Violent Riots Over Bitcoin and Cryptocurrency?
People Up in Arms Over Crypto Why You Should Care?
Henry Ford predicts a revolution if people truly understood how money works in the United States. Let's go to a quote from Alvin Moore, former vice president of JPMorgan Chase, interpreting Henry's words:
"Generally speaking, such statements may be referring to the fact that people do not understand the basic premise of a debt system based on fiat currency and the permanent damages inflicted by inflation."
It's my bet that most Americans don't have a clue what our national debt is, which is roughly 20 trillion dollars! It's not relevant to them, it doesn't stare them in the face. Shown here is why it is vital that we understand this debt and how cryptocurrency can help. First, who holds this astounding 20 trillion dollar United States debt?
74% of the United States debt is held by investors, foreign countries, and more. The biggest point of this article, What if holding United States debt(the U.S. dollar) becomes unattractive and what is the alternative?
Why do future people want to hold our debt? The only reason people are accepting our debt is that the United States is in better shape than the rest of the world(you can of course debate that). Will that continue maybe/maybe not.
BUT, WHAT PEOPLE DO WANT FOR SURE IS A NONINFLATIONARY CURRENCY THAT EVERYONE AGREES HAS VALUE. ENTER THE FUTURE OF CRYPTOCURRENCY!
Bit coin will NEVER have more than 21 million coins.
A large amount of support of cryptocurrency comes from China, Japan, and South Korea. I think they are doing what is completely natural. Are any of these countries native currencies, including the U.S. Dollar, capable of holding value? Maybe, maybe not. Not the type of safe feeling I like to have with my money.
And this is why cryptocurrency is the future, end of story!
It's true that bitcoin is limited, but they keep on forking it to make other copies of it like bitcash, bitgold, etc. How many more will they make? There are at least 8 varieties trading on crypto markets. See here:
https://bitcoinforks.io
Well I think the key issue will be what gets main stream use, that’s the billion dollar question :)
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Very short and to the point. I will be interested to see what 2018 brings with regard to crypto currency.
Thanks for reply Joe, crypto is such a growing technology that each year brings excitement!
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