Primal crypto freedom: how not to miss out?
The history of mankind remembers several stages of the development of money.
There were barter deals first.
For example, if your neighbor had a surplus of hides, and you had an excess of meat, you could exchange one for another.
With the shift to a settled way of life, with the development of agriculture and livestock, the number of items had exceeded, which affected the way people traded. How did you swap a jar for a hoe? Or a lamb for apples? And what if you needed to exchange something that was far away?
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The equivalent of value was needed, which resulted in the creation of units of account — money.
Started its way as shells, pearls, and rocks, money has gradually obtained the form that is familiar to modern people — metal coins. The value of a coin was determined by the rarity of its material. There were copper, tin, bronze, silver, and, the most valuable, gold coins. Minting became a way to fight against forgery, which made coins the framework of a state monetary system.
The increasing complexity of monetary relations, the development of banking and credit systems resulted in an ever-increasing number of coins, which, in turn, led to an ever-increasing scarcity of the materials. Moreover, the transportation of metal coins become more expansive and less profitable over time.
But people had managed to solve the problem: paper money was designed. Initially, it was represented by certificates backed by precious metals but has become full-scale money in the end.
Over time, however, banknotes had proven to have some shortcomings too. Lack of real backing resulted in an increase in money supply and inflation. The creation of digital, or virtual, currencies pegged to “real” money simplified monetary flow but didn’t solve the problem of inflation.
The XX and XXI centuries showed new monetary problems. The Great Depression, the Black Monday of 1987, the Asian financial crisis of 1997, Russia’s 1998 Financial Crisis, the global financial crisis of 2008 that shed some light on drawbacks of global financial system — all these crises are vivid evidence of the fact that modern financial system with its centralized state regulation cannot be considered reliable anymore.
Regular modern people cannot be sure that another economic crisis initiated by risky actions of some tycoons will not destroy all their savings overnight.
Social stratification, growth of a small group of super-wealthy people against the background of millions of the poor, political gamble for the sake of the powers that be — all of these make people think about whether or not they should go on living in the financial system like this.
The creation of Bitcoin, a virtual currency with a decentralized P2P system, has become a technological response to the challenges of our time.
Now everyone can buy, store, and exchange currency that is impossible to fake or cancel, which is out of banking and governmental control.
Cryptocurrency usage brings monetary relations to a whole new level, in which all people have equal opportunities as it was before the establishment of financial institutions that has eventually turned into nearly the main threat to the welfare of regular people.
We may be back at the threshold of primal financial freedom and independence. Whatever happens, your money is yours, and no one can change it if you are in the cryptocurrency system.
It’s no wonder that the old wasting away system doesn’t like it, which is resulting in counteraction to the development of the cryptocurrency industry on the part of governmental institutions.
Nevertheless, everything proves that cryptocurrency is a response of human intelligence to the challenge of modern life.
Current technical problems of Bitcoin (slow scaling, difficulties in utilizing) are gradually being solved, and the most powerful cryptocurrencies may soon receive worldwide recognition as full-scale money along with the dollar, euro, and other traditional currencies.
Another feature of cryptocurrency is high volatility. It can be seen as a shortcoming only partially: although cryptocurrencies are less reliable means of storage than gold, they enable stable income on trading.
Thanks to the development of crypto exchanges, trading is experiencing the second inception: until the position of cryptocurrencies is not so firm in the structure of the world financial system, thousands of people are getting wealthy on crypto trading.
More and more cryptocurrency services for amplification of profits are appearing these days. There are analytical services, and crypto trading platforms providing seasoned traders with an opportunity to convert their success into additional income while the beginners enjoy the earnings along with the professionals by copying their deals.
The auto-trading service by Coinmatics has become a milestone for the evolution of copy trading. The service automates the profit-making process. With the subscription to successful traders, it’s possible to expect a 30–40% return. The commission is charged for successful deals only.
The development of money is continuing, and we will allegedly witness a surge to another stage of financial evolution in the decade ahead. It’s unknown what the future holds for the global financial system, but cryptocurrencies will certainly strengthen their position.
It means that it’s high time to profit on something that is still an exotic today but is sure to become as trivial as coins in your pocket tomorrow.
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