Starting next week, we will see over 200,000 people per day getting into crypto currency. July 1st will mark the day Australia will recognize Bitcoin as legal money and will not tax the purchase and selling of Bitcoin on approved exchanges (Coinbase, Kraken, Poloniex, Bitfinex, OKCoin,BTCC etc). India will also soon, be legalizing Bitcoin and other crypto currencies with the ministry of finance oversight. The Central Bank of India will set up guidelines for transactions and investments made with bitcoin. All of these new crypto currency adopters will not be getting a crypto currency exchange account unless they plan on using it.
Besides individual citizens getting into crypto, large institutions are now getting in. Big institutional money is starting to move into crypto. Even at this rate, we have not even scratched the surface of this FinTech (Financial Technology) industry. Remember, we are not even near 0.001% participation in the FinTech/Crypto Currency industry. It will be years if not a decade (10 years) before we are getting close to a potential starting of a bubble.
Main (Lame) stream media is even talking about crypto currencies. The industry is too large to ignore anymore, even by them. Hard wallet manufacturers such as Ledger Nano S and Trezor have almost a two month waiting list. Some vendors were smart enough to put in large orders so that their customers may have only a two week wait. Graphic cards that help mine crypto currencies are not available. The global demand is so large, that all inventories have been depleted. Take a look on EBay or Craigs List and you will find graphic cards 3 to 4 times the price of retail!
All of this is a good sign for the industry. Do we have flash crashes? Yes. Do we have volatility? Yes. This is to be expected. It does not mean that this industry is shady. The industry is still fairly young and growing rapidly. These are growing pains. Do not be scared. Get educated and get involved. You will not regret it.
The future is looking very bright for anyone smart enough to invest at this point in time. Nice post.
Thanks. There is no question crypto is the future for money and smart contracts.
Excellent article. I believe crypto is the future. appcoins like steemit and lbry are good examples of services that people will get into even without realising they using cryptos
I agree. Very soon 50% of the population will be using crypto and not realize it.
We should buy now before they do?
I was thinking the same. The exchanges are strained now. Wait until next week and forward
Très bon poste, l'Australie (24 millions d'habitants) et l'Inde (1,32 milliards d'habitants); ça va exploser mais dans quel sens ?
Buy and HODL my friends!! I know you heard about the 18 year old bitcoin millionaire. Lets join him! haha!:)
Yes, the 18 year old story has gone viral!
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Most excellent article and great points you make. Thank you.
You are welcome