Dreams that start to crumble

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If the existence of crypto from year to year is increasingly full of twists and turns with various prohibitions that have been issued by various parties and countries. It seems that the dream of denationalizing money as a stateless currency is about to crumble.

Bitcoin lover Sathoshi Nakomoto's dream may be difficult to come true seeing what happened after several quite extraordinary awakenings on his journey.

In 2021 bitcoin peaked growing over $60,000 in value after the halving achieved. However, in the midst of the excitement, various parties who are interested in and participating in cryptocurrencies eventually become a dilemma. Various kinds of new measures began to be issued with the fear that alternative finance will dominate the world community.

The problem of price volatility and the weakness of the supply resources used by bitcoin in bitcoin mining will become the peak of the problem in mid-2021. China, which began to ban bitcoin mining and the use of krypto, made the value of bitcoin fall. Of the various prohibitions that have also been affected recently regarding the rules for licensing imposed on the largest crypto exchange today, Binance.

Dreams become even more difficult if you take into account every step you take. El-savador who wants to use bitcoin has become a scourge in the crypto world. Many fears began to occur. Sweden, Iran and Malaysia also prohibit the practice of bitcoin mining at this time. Various conflicts have been created. The capabilities of bitcoin and other coins make for a formidable opponent for a long-running system.

Blockchain technology is the answer to follow the progress and pace of crypto for the banking world. Various Stable Coins were created on the basis of each country. China, which is starting to work hard with its digital yuan, wants to block the western world's move towards dollar strength with its yuan. And the europa are in no hurry to otu they first study China's strategy at this time.

Is it possible that all dreams of this cryptocurrency goal will be dashed in the end? It's still a big question mark lately. And it is still difficult to give a really mature prediction for the future. Investors are also confused by various things that have happened recently. The only way to reduce risk is to listen to the news and be more careful about all the possibilities that happen in the future.

Indeed, the dreams of libertarians that have been echoed by early proponents are dying as cryptocurrencies have penetrated the mainstream. Stablecoins are pegged to the value of national currencies, while the US Federal Reserve is developing its own digital currency. On a different note, the Bank for International Settlements has recently given its support for a central bank digital currency for the first time. Making this development changes all the original purposes of stateless money.

With the existence that has become like this crypto is more likely to live as an ally of living gold as an asset rather than an alternative currency that can be accepted or used as its primary purpose. Being a golden ally for those early adopters of the world's assets, this means that crypto enthusiasts will have to adapt more to their hobby habits, becoming a new volatile asset class for high-risk hedges rather than truly alternative global currencies. (although in this case, opinions differ). Most crypto enthusiasts since their initial surge in late 2017 didn't seem interested in the major value crypto was created for, but have now turned to taking risks for a speculative outcome. The future of crypto now no longer looks like the dream of the creators of bitcoin. Now only about value and how to see more results from the existence of the assets they have.

Monopoly or money laundering is no longer the main problem but the existence of fear of domination and the uselessness of an asset has made it a more problematic factor in fact.

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Comments

I disagree with much of what you write.

It seems that the dream of denationalizing money as a stateless currency is about to crumble. Bitcoin lover Sathoshi Nakomoto's dream may be difficult to come true seeing what happened after several quite extraordinary awakenings on his journey

BTC stopped playing this role a long time ago and hope has long since been abandoned. This is nothing new.

Indeed, the dreams of libertarians that have been echoed by early proponents are dying as cryptocurrencies have penetrated the mainstream.

With what right do you write that and what proof do you have for it? The fact that BTC cannot fulfil hopes does not mean that hope has been abandoned.

On a different note, the Bank for International Settlements has recently given its support for a central bank digital currency for the first time. Making this development changes all the original purposes of stateless money.

Do you really think that such currency can compete with a currency like BCH?

Most crypto enthusiasts since their initial surge in late 2017 didn't seem interested in the major value crypto was created for, but have now turned to taking risks for a speculative outcome.

These are not crypto enthusiasts, they are speculators who want to make a lot of money in an easy way. The sooner they leave the crypto universe, the better.

Monopoly or money laundering is no longer the main problem but the existence of fear of domination and the uselessness of an asset has made it a more problematic factor in fact.

Here I agree 100%. That is why BTC will die. But some other cryptocurrencies (including BCH) will survive and will have more and more users in the long run.

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2 years ago

Indeed, the dreams of libertarians that have been echoed by early proponents are dying...

The real libertarians think in the long term and not with short-term gains.

https://morelibertynow.com/a-voluntary-world-by-2064/

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2 years ago