These days people are hearing a lot about bitcoin. It all reminds me of the internet days of the late 90s, but this is very different than the internet boom. Comparing to cryptos it was relatively easy for people to understand what is internet and how computers connect to each other and form the internet. Even if you didn't quite get it, you still would order a modem, get an AOL CD and connect to the internet. You would open an email account and start searching on Yahoo! Suddenly you were an internet pro!
But what about crypto currencies? Well it is way more difficult for people to understand what a digital money is. You see it takes time to get a grasp of what actually money is. Can you imagine salt being used as a currency in the old days? Well you can read about it here:
https://en.wikipedia.org/wiki/History_of_salt
There were many wars fought over salt!!! You see my point is money can be anything that has value defined by human beings. Although today it must have a few characteristics to be accepted as money such as acceptability, durability, limited supply, authenticity and divisibility. Bitcoin and some other cryptos have these characteristics. You can study the blockchain technology and how that all supports the future of bitcoin to be accepted as real money, but what they don't tell you is that the main issue about cryptos is the acceptance among people, which is still low. For many it is a speculative instrument, they trade it on the exchanges for profit/loss.
The first thing you thought about bitcoin was probably how can we have a digital currency that sits on a computer and doesn't exist in the real world? Right? Or why should I own it if it has no use in the real world? You can't even buy yourself a coffee with bitcoin at your local coffee shop! Well that is changing very quickly!
Let me give you an example. Apple Computers was founded in 1976. If you asked someone about computers in 1976, what were the chances that they could explain it to you? Ask someone from those days if they ever thought computers would take over the world? It took many years for computers to be part of everybody's life. Then came the internet. Now it is part of your life since you are reading this. For sure one day crypto currencies will coexist with other currencies. They will be very easy to spend, just like you use your credit/debit card. You will be able to travel to Paris and pay your museum ticket with your crypto and don't have to worry about losing your wallet since your crypto is safe in your digital wallet.
There will be very exciting times for crypto and blockchain technology! That's a promise.
I agree blockchain is a given as are cryptos. The question which ones are the ultimate winners. Bitcoin and Ether probably will always have a place albeit perhaps not in the lead positions. Others will emerge.
If we look at this in the life of a human (80 year lifespan) the crypto world is at day 4. Still very young in the game.
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