Steemit crypto academy//The future of cryptocurrency in this modern world
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To determine the future of Cryptocurrency we must first take a look at where it is today. Who likes it and the reasons why. Also, on the flip side, who doesn’t like it and why.
To start with; you have your Crypto enthusiasts, geeks and cypher punks. These are the people that enjoy collecting new tokens and coins in their wallets as well as those who revere the cryptography itself. Also, those who despise FIAT currency, the government that regulates it and the banking intermediaries who profit from it.
You then have those that like to have Cryptocurrency to spend. Whether above board purchases, online and ecommerce especially, they like not having the expense of a credit card or any other intermediaries. For illicit purchases they like the anonymity that buying illegal, immoral or unethical products and services with a Crypto coin or token allows. Increasingly more online as well as brick & mortar stores, restaurants, hotels and other businesses are accepting virtual payments for products, goods and services.
Then there are the investors, speculators and traders. These are the folks that are buying crypto coins and tokens during ICO, crowd funding or other launches at the inception of a new virtual decentralized digital currency. Hoping to strike pay dirt with the next Bitcoin you have millennials and baby boomers alike all dying to be privy to the next 4-digit ROI coin or token.
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Speculators and traders also buy crypto coins and tokens, however they don’t necessarily just buy to hold. Many are on both sides of the trade using momentum and price limits to both buy and sell then buy again.
You also have throughout the world people that are unbanked or underbanked. Often paying in cash or money orders, these folks either don’t have access to banking institutions or choose not to use them out of fear or mistrust. Often people, such as transient or cross border workers or employees who may work in one country but regularly send money to their families back home. Cryptocurrency is much better than Western Union.
Now you may be wondering, who doesn’t like them?
For starters Federal Reserve and central banks who were the gatekeepers of government sponsored FIAT currency or cold hard cash. Remember, he who controls the money supply has control of the people. For years banks and financial institutions acted as intermediaries to a government’s FIAT currency. They made hefty fees safeguarding (in savings and checking accounts) lending (in mortgages, home equity, business and personal loans) as well as lending to other financial institutions and more. Cryptocurrency threatens their power, control and monopoly of a nation’s “official” currency.
Regulation at some level must take place even if it’s self-regulatory because it is a necessary evil as even the wild west needed its sheriffs and marshals to control the outlaws.
It would be nice to be able to have a crystal ball or fast forward Cryptocurrencies future to see if it prevails or goes the way of the Edsel or DeLorean car, obsolete.
But for now, we remain optimistic that the cryptocurrencies will find their place and be accepted in all corners of the world as a very valuable resource and alternative to Fiat currency.