Why cryptocurrency will succeed...
When I graduated from college I had a five figure debt. As i didn't want the debt anchor weighing on me I decided to join the labor force as soon as I graduated. Not long after the season stock market crashed and I was living through the Great Recession.
What I learned through my financial difficulties is that they come unexpectedly and that I can not have total control over it. Yet educating myself and learning how to spend on what I need and save on what I can to better prepare for a rainy day.
Digital transactions are here to stay
It is ironic that banks and big financial institutions are calling bitcoin and cash up to in general is scam when in fact the process they use to transfer wealth is quite similar. Similar in the way like most Americans get paid by direct deposits to their banks. Through plastic cards we can withdrawal from the bank and spend on what we want and need. Not often do we ever use cash anymore. The logical next steps to these type of transactions is crypto. With smart contracts to verified hashes the way we all use money is only leading us closer to using cryptocurrency. Not away from it.
The American Dream Evolved
For an American in the 1970s who worked a decent job and saved enough would be able to purchase a house and start a family. Today with the fast work pace and technological efficiencies a lot of the decent jobs has either disappeared or outsourced. This forced Americans to become entrepreneurial in order to find enough income to support themselves. If it was not for the struggles many of the younger generation of today I do not think there would have been the creation of bitcoin and other altcoins.
The main reason I think bitcoin has drawn this much attention is because more and more people are feeling the current system is not working for them so they adopt to a different system. One form is through replacing fiat with crypto. Whether it will be profitable is a different story but it has been created to show a path for those who do not or can not get in the right path as their parents and grandparents. Dream of happiness is no longer the same as the 1970s.
Faith in Crypto
It could be a scam but at the very least a lot more people today feel fiat currency is not working the way it should therefore something else has to come. Mankind will advance and with it I believe crypto and fiat will work hand and hand in the future.
This should not be a time to be complacent if you are a crypto holder. This is the time to educate and appreciate what crypto has to offer us. The more we each look into crypto the better we can evaluate its real worth.
Thanks for reading.
Date of post: 8/8/2018
I think you kind of hit it on the head with Bitcoin. It was to a certain extent a rebirth of the "American" dream. I will call it a universal dream. A dream to rise from nothing and have everything. Cryptos have kind of rekindled that dream. Our path to success might look different than that of previous generations, heck if anything, crypto showed us that there are a multitude of ways to get to the finish line.
Compare to fiat, cryptocurrency is more valuable.
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