Bitcoin Image - Courtesy of Ititch.com
There's not a day that goes by that I don't see multiple videos, and read at least a few articles by those that believe they're experts in the very new cryptocurrency arena. At least expert enough to offer advice to others. I realize Bitcoin has been around since 2009, but it wasn't 'really' taken that seriously until not all that long ago. I remember years ago people posting about how they had lost 10,000 Bitcoin, and laughing it off because it may have been worth $10 or $20. Yeah, times have changed.
I don't knock people for being excited about this incredible (possible) alternative to our antiquated, and EXTREMELY corrupt fiat money system. I know I'm very excited!! It's long overdue, but the technology just wasn't in place to make it happen until fairly recently. I believe it's certain that some form of digital currency will reign supreme.
Anyway, I question if we even have any experts in the field of cryptocurrencies, at least at this point in time. I know enough to know that I don't know enough - at least to do anything other than take somewhat wild guesses when deciding on which token to invest in. I've seen comparisons made to 'Bulb Mania' in Holland during the 17th. century, is this more of the same? Are we over-hyping things, and creating the biggest bubble the world has ever known?
Ethereum Image Courtesy of Ethereum.org
I feel safe saying one thing, this 'Digital Money,' that only even exists as magnetic fields on a hard drive, or ' 1's and 0's' in our our cold storage device, or even in a 'paper wallet,' is here to stay, at least in some form. Will we have thousands though, like we do now? I believe I saw some 1,193 listed on CoinMarketCap the other day. Does anyone really believe we'll have that many different currencies floating around? I realize many are supporting some underlying technology, or business, so I understand how they can have value, but will they actually be traded as separate entities on exchanges? Are they meant to be little more that stock shares in a certain company? I guess I'm showing my ignorance here, but I know I'm ignorant on this subject, and I'm afraid I won't know a whole lot more until we get farther into it and see what happens. Maybe I should have read more before I started writing. lol I love the idea of Ethereum's 'Smart Contracts,' and it would seem to me that some form of this technology would almost be mandatory for a successful, dominate blockchain technology.
Image Courtesy of Funny Memes
It would seem that governments will probably also be a huge factor in what happens, they always are, whether for good or bad. Also, we see guys like Jamie Dimon making comments that show his contempt for something that can threaten the corrupt system that made him a billionaire. There's far more than enough money collectively-controlled by these types of individuals to heavily manipulate the cryptocurrency market, and I would think they'd be perfectly fine with doing so. Just as tyrannical governments and evil dictators will do anything to hold onto power, those that have become wealthy beyond belief, by indirectly being able to print their own money, would (I believe), do nearly anything to combat any change to the present abusive, and rigged system.
Will Bitcoin or Ether be the currency for the world at some point?
As crazy as the world is, especially with so much violence, poverty, and unrest in many countries, it's still an incredible time to be alive. I think it's safe to say that we've made more advances in the last 100 years or so than any other time in human existence. I believe what we do now, and in the next few years will very much determine our destiny. Are we headed for disaster, or can we make the changes necessary for a bright, exciting future? I know one of the most important things that MUST be done for us to move forward in a positive way is, we must dump many of our old ways, including the idea of allowing thieving 'Central Banks,' and the massively corrupt plutocracies that have grown up around them.
Thanks for taking the time to read this, and I am very much interested in anyone's opinion on what will happen in the cryptocurrency world, I think it was obvious that I really don't have a clue. :-(