For most people new to the crypto space, it's easy to get hooked by the huge upswings in price throughout 2017 and the downward trends through 2018. Crowds of people entered the market willing to invest their money hoping that they can make a quick buck and ride the wave of the price going upwards. In the same way those exact people back away when the price dips and continue to go down months on end, and leave with a bitter opinion of the technology. In order to get these people excited about cryptocurrency they need to be exposed to reasons why it’s not just an asset to make money off of. A few points to be made in short summary...
You are the bank
Unlike traditional banking, you have complete control and ownership of your money. When you put money into a bank technically the bank owns that money and can do as they wish with it. Also when you pay for goods or services through a debit/credit card your transaction can be censored and funds frozen if the institution decides to do so.However when using bitcoin in a bitcoin wallet where YOU own the keys, your assets can’t be frozen or seized and transactions can’t be stopped. This is essentially because…
Bitcoin is a decentralized network
No one person, business, or government can control bitcoin. The network is run by nodes all across the globe that process transactions and they allow follow the same rules to be allowed to participate. This is very different from other types of currencies or assets. Bitcoin can be traded to anyone, anywhere in the world which creates a free market for users.
There is a limited supply
While bitcoin’s current use case as a currency has its benefits, it is also inherently deflationary. This means that as more people enter the bitcoin ecosystem and as time goes by, each unit of bitcoin will increase in value. The absolute limit of total bitcoin that can exist is 21 million and as opposed to national currencies where total supply can be manipulated, this offers a hedge against inflation.
These are some of the major aspects of bitcoin that offer individuals more freedom and financial security, there are a plethora of others but that's all I'll cover for now.
Thank you for reading!
i think this year crypto back to the moon