Time to Evolve — Cryptocurrency is the Way!
We started out with barter back in the ancient times, which then through the need of more universal facilitation, turned into precious metal exchange, which ultimately led to a paper substitute for those metals. Now, after those paper substitutes had been digitized, we now are moving on to “cryptologized” currency — and humanity continues to evolve (so to speak).
As continue to hold under the grip of the pandemic, crypto currencies are on the rise, as the market is flooded with fiat currency at a rate that will no doubt usher in a hyperinflation driven bubble that could possibly crash the fiat money system.
So what is it about cryptocurrencies that make them such a viable alternative to the fiat money paradigm?
“Unlike FIAT currencies cryptocurrencies cannot be corrupted because of the decentralization and security of the crypto coin. And as these cryptocurrencies are in digital form, it is next to impossible to duplicate them, unlike FIAT currencies.” (Irishtechnews)
“When stripped of the more political messaging, Bitcoin is fundamentally the introduction of a credibly neutral, global system of value transfer that is open and permissionless yet cryptographically secure and verifiable. This burgeoning crypto economy is still relatively early in its development, yet in the ten-plus years since its launch, it has fundamentally shifted the discourse around what money could or ought to become in the future. ” (Cointelegraph)
Cryptocurrency’s selling point is that it is decentralized and much more convenient than regular money/ There is no middle man that has to approve transfers, which can then take up to from 5 to 8 business days; no lengthy and often times prohibiting proof of identity, that can render some ineligible to realize transactions. Even digital money, though digitized and more convenient, still has nothing on cryptocurrency.
“overall cryptocurrencies are far superior in speed, cost and security than any fiat currency. Because of the increasing demand for digital transactions and digital currency the importance of cryptocurrency is getting higher.” (Quora user)
The current paradigm is in the throws of collapse, and it seems as though cryptocurrencies will be the savior when all is said and done. Any efforts on the part of governments and the big banks which they loan from are just fleeting, hail-mary attempts to patch up a dam that has already been set to rupture at the slightest touch.
The economic climate is ripe for gains in cryptocurrency, namely the big three: Bitcoin, Ethereum, and Tether. So much is the case, that banks are starting to acquire Bitcoin as a reserve currency. If that doesn’t signal that BTC is set to hit huge highs in the near future, I don’t know what does.
https://cointelegraph.com/news/crypto-and-fiat-currencies-are-worlds-apart-here-are-the-reasons-why
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