BitCoin (and Cryptocurrency) is far, far from dead
My first Post of 2015 comes strangely about economics and philosophy. Two things I am keenly intrigued by. It comes in the wake of the world's primary Cryptocurrency, BitCoin, losing almost 30% of its value in under a week. Naysayers and doubters are now once again coming out of the woodwork saying BitCoin and Cryptos are dead. Well, they aren't. I just wanted to give my thoughts in the wake of the price crash:
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So I’m going out on a strange limb here. Strange: because many of you may have never heard of BitCoin, let alone know what a Cryptocurrency is. A limb: because those who DO may well have seen mainstream news and believe BitCoin is my first. Blog Podead.
Well, it’s not. The technology and philosophy behind Crypopcurrencies (specifically BitCoin) is so revolutionary that it cannot die. But more than that; it has the ability to surpass fiat/paper currency (here’s my limb) within the next 10-20 years, and most probably will.
Watch this space. I genuinely believe we will be using BitCoin or some kind of Cryptocurrency as our primary currency within the next 10-20 years.
This is not some strange End Time antichrist bulldust. Gosh no!! This is real life, man! This is superior technology by the people for the people! It is best for humanity and best for civilization.
Cryptocurrencies are here to stay. I am sure of it.
Not sure how it will all pan out. And hey, I could even be wrong. But the signs are pointing towards this being very true.
I wanted to share this in light of BitCoin’s recent major price crash. The public need to understand: BitCoin's price does not determine its value right now. It is being traded like a stock and thus being speculated on. These speculations have nothing to do with its value. It's value is based on its ability to be used by the masses and thus it's usefulness, which will only increase over time as more people switch to using it. If not BitCoin, other Cryptocurrencies.
Again, watch this space. BitCoin is not dead. Far from it.
