Mind The Grid

Mind The Grid

Cryptocurrencies: Their Value And Inevitable Adoption

July 27, 2018

Cryptocurrencies: Their Value And Inevitable Adoption

Guest Author: CRYPTOtheGIANT

Cryptocurrencies: Their Value And Inevitable Adoption

The fact, that our current "modern" society is stuck in an outdated fiat/debt based system, is very sad, as it leads to greedy elites committing financial crimes that usually go unnoticed and result in the the tax payers being stuck paying the bill. The fiat system has run it's course, and has accumulated many trillions in debt worldwide, which undoubtedly will never be paid back after the coming recession. In tough times bankers will print more money, just look at Venezula there inflation has hit the highest % of inflation of all time. It takes 100,000,000,000 bolívar to buy three eggs, right now, could this happen to the US Dollar? All fiat currencies end up going to 0, due to the weakening of it's purchasing power over time due to inflation.

In complete contrast, the value of most cryptos keeps growing due to deflationary measures hard coded into the system. There will be no more than 21,000,000 Bitcoins, yet the amount of coins that are lost or unattainable goes up over time. For example, a single middle-aged business man has an unexpected heart attack that kills him, and he never left his Bitcoin wallet's key or password to any loved ones, those coins will be lost forever and therefore the amount of bitcoin is now below 21,000,000 as Bitcoins supply is now slowly decreasing. The best cryptocurrencies have a set number of coins to be created.

New technology will change the way we do finance! We don't need to pay a middle man or a bank anymore to facilitate our transactions! How long does it take you to transfer money to another account? Days? A week? The Swift banking system was founded in the 1970s. As you know, it is so slow, outdated, and is constantly hacked. Why not trust your hard earned money to a system that has top notch transaction speeds and the absolute best security. Imagine not having to spend extra to send money across the world to anyone. The blockchain system, especially Bitcoin's, can keep track of every transaction, and therefore roots out financial corruption, through a trust-less transaction that is verified by the blockchain system to be legitimate, without the use of humans who could make an error or try to scam. Bitcoin's blockchain features nodes, instead of humans, that validate transactions. They will determine if the transaction can proceed, or fails. The factor determining a successful transaction, is simply, "Do you have enough Bitcoin in your account?" 

There are so many nodes, that it is virtually impossible for a hacker to trick all the nodes. So this new age technology will be slowly integrated into our advancing society just like the internet did.

Lastly, back to my main point, the adoption of blockchain technology is underway believe it or not! In the last few years, we have seen a rise in the amount of crypto companies and atms worldwide. CEO of Twitter, Jack Dorsey, launched Bitcoin integration into his Square Cash App in 2018, which now provides a new on-ramp for investment capital. Bitcoin is becoming easier to obtain due to innovative business like Coinbase and Square, where you can easily buy crypto with your bank account. Also on the rise is the amount of Bitcoin wallets, which shows more and more users are starting to save Bitcoin. I believe if people are able to understand the basics principles behind cryptos, you will understand we are at a crossroads, where we can go down the familiar/ corrupt fiat central bankers system or we can choose to leave them behind and embark on a fair and trust-less system. It is up to you, vote with your wallet!

 About the Author: Curiosity and wonder is what I strive for, when designing a new art piece that will engage the ignorant masses. The goal of CRYPTOtheGIANT, a crypto art and apparel shop, is to push for world adoption by familiarizing people with cryptocurrencies. Through clever designs and vivid colors, I am doing what is in my power to usher in a new financial system that will give every man the right to be his own bank. - CRYPTOtheGIANT

CRYPTOtheGIANT's online store, click here.

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