This was suppose to be a post about something else but it turned to be a bit of a rant :p. I hoped these days were behind us. I hoped we could look ahead to the exciting world to come for crypto and the things to come. But the bubble articles are still popping up in the news. How long before we can move on?
Sure it could be a bubble and please be careful with your investments, bitcoin is a high price, and it could halve in value in no time, but people need to stop comparing cryptocurrencies to Ponzi schemes or calling it purely speculative. They are a global payment system that does not need a central system. It has a function. Period. As I am not a programmer, I do not know how secure they are, but if blockchain tech is as revolutionary as everyone is saying, and we are seeing coins, like steem, with no transaction fees, then you have a better financial system. Why do you think banks are starting use Ripple? Because it is cheaper to deal with it internationally behind the scenes.
Look I get it, you see people buying a coin so they can get more of a coin and you think it is a scheme as there is no point to the coin. And yes, with so many ICOs that are doing the same thing, some of them are possibly schemes with people cashing in on this craze. But please do not ignore the tech behind the coin and appreciate that it might be a better way to do business on a global scale. And as we move further into a digital age, with globalization getting more prevalent, a currency that crosses borders, is cheaper and doesn't need to be exchanged is a function, a valuable one.
When you truly see how revolutionary cryptocurrencies you start to see why it might not be a bubble. Sure it is easy to think we have cash, why do we need it. But that didn't stop cash from being replaced by digital payments. And now digital payments might be replaced by crypto, sure like the Walkman was replaced by the c.d.
VHS = cash
DVD = digital payment
Streaming = cryptocurrency
Sure you can watch movies on VHS but you will probably stream it nowadays.
Again the price might be much higher than it should be and there could be a major correction but it has nothing to do with it not having function and it could see growth again after the crash.
Are you also sick of the bubble talk?
*my upvotes/rep disclaimer: https://steemit.com/steemit/@whatageek/my-steemit-account-where-i-stand-on-bots-self-votes-and-multiple-account
We should not say bubble for nothing but we need to stay realist, many cryptocurencies are in a bubble (not the Bitcoin)
Couldn't agree more and loving the VHS reference. Straight on point.
Thank you :)
im new to crypto currency, my son introduced me to steemit , im very new to this , your post was very informative , i learnt a little , still have alot more to understand , keep posting , following :)
As long as people scream 'bubble' instead of seeing Bitcoin at $10k+, I know everything is just fine.
What I find funny are the articles that keep coming out after any 10% dip. If a drop from 2700 to 2500 is a big deal to you then you haven't been in on this for very long at all!
