Bitcoin Cash is Mainstream. Don't get convinced Otherwise
From the past few months, I have observed that many people have been trying to prove how Cryptocurrency is the future of money and trading. How it will make peoples' lives easier and better. and how it will aid businesses and individuals to send and receive money without much transaction fees and hassle. Moreover, How it can give us freedom from the banking system, which is made to keep the rich, rich and keep the poor, poor and how it promises to be the next gold, Valuable and rare while being acceptable. In my opinion, what bitcoin and other crypto had promised has been fulfilled, These currencies allow trading, paying, and receiving of money. they are a good alternative to the banking system. The thing that is holding it back is the acceptability by the Public. Money, be it in any form has to perform four of the below functions. **Medium Of Exchange**-Cryptocurrencies have banked on this function of money. These currencies can be easily traded on the Internet and many Firms are starting to accept some of these currencies for payments. **Store of Value**-This is an aspect of Crypto which is a long way back from cash and national currencies. To be able to store value, a currency has to remain stable as a whole. However, Due to the online nature of these currencies, this aspect can only be solved once wide adoption of these becomes the norm. **Unit of Account**-This is the quality of money that crypto is improving substantially in. As the value of crypto becomes stable, it will become easier to price goods and services directly with these. Tesla, for example, has made it an option to buy its Cars directly with Bitcoin. A major event will have to take place that will push the public into adopting these currencies. For example, Zimbabwe has started using Cryptocurrencies as its own currency became too devalued. But Until Then, See ya. p.s. This is my first article on this site. Do give some advice.
No comments yet