I remember back in 2001 when the Internet started to become a household name, and the paradigm shift happened almost overnight. The Internet brought us great change, and the ability for all of us to have access to the same information and knowledge that used to only be available to those in the know or 'connected'. The Internet revolutionised communication, commerce and collaboration and delivered us a global network that was able to pull together the entire planet into one massive cybersphere. People were talking and explaining the Internet in much the same way that we are today about Cryptocurrency, although Cryptocurrency is still in its infancy! I would say we are in about the year 1994 in terms of where the Internet was in those days. Almost no one used it except for academics and certain professions, and it was extremely limited and simple in terms of what it could do and what it had to offer us.
We ALL know how the Internet has changed and grown since then. We have had a revolution, and with the invention of the smart phone just a few short years ago, the world will never be the same again! The Internet has spawned the biggest commercial boom in history, and today the biggest companies in the world are all Internet bound and, in the space of a decade, are worth more than the biggest and most entrenched companies that preceeded it.
Cryptocurrency has even MORE potential than even the Internet had to offer, and right now we are at the very beginning of a complete paradigm shift in terms of commerce, marketing, banking, and just about every commercial activity and more. Cryptocurrency will leave no stone unturned, and before long we will all wonder how will lived without it.. just as we do today with Internet.
SO if that isn't reason enough, let me present 6 reasons why Cryptocurrency and Bitcoin is not in a bubble.
1. Global Discontent, inequality of income and wealth
The people of the world are fed up, and the planet can no longer sustain itself on the path that has brought us here. The Internet brought us access to great information, and that has fed and fostered great discontent amongst people in almost ALL countries of the world. People know the truth, and have had enough of being a pawn in someone else's game of fortune. The days that the Fat Cat gets rich and everyone else stands by and watches are ending. Until now no one has had any idea what to do or how to go about changing a system that is completely entrenched and corrupted. This discontent is fuelling the demand for Cryptocurrency, with more people starting to understand what it is, and how it can REALLY change things. This demand is unshakable, because the people who have had enough of the 'Status Quo' will support cryptocurrency through thick and thin as a matter of principal!
2. The World Is Being Further Flattened!
Whilst the Internet was able to flatten the playing field to some extent for commerce and sales, it did little to change or challenge the biggest industry in the world, banking. Banking IS where the money is, (is that a pun!) and right now there is a fraction of 1% of the global stock markets in Cryptocurrency. As Cryptocurrency goes mainstream and gains mainstream trust and confidence we will start to see the real adoption of cryptocurrency to levels far beyond where we are today.
3. Cryptocurrency Markets Are New and Poorly Understood
Anyone used to trading in stocks and Fiat would be horrified to look at the daily Cryptocurrency charts. When you are used to half percentage gains and losses, and have learned how to work with that, it can be VERY unsettling to see volatility as we do on Cryptocurrency. The uptrends have been so big, that it is very easy to say this is a bubble, until you realise that the Bitcoin market is only just maturing as an investment and the underlying value of the cryptocurrency is still unknown. If we look at just ONE Internet company today, Google, it is worth almost the same amount as the entire Cryptocurrency Market, at $527 Billion. Therefore, there is a HUGE amount of space for growth.
4. Cryptocurrency is being Institutionalized
With untold profits come the potential for untold taxes! Governments are now ramping up their efforts keep tabs on all Crypto investments and the USA have even passed laws to make it mandatory to declare all cryptocurrency holdings on entry if asked. With the government AND commerce both behind cryptocurrency there are no obstacles to prevent it growing beyond anything we have seen yet.
5.Bubble Shmuble
It’s good to remember that people have been calling Bitcoin a bubble for a long time, even when the price was just US$35 in 2013. I don't think you can call something a bubble that has been consistently expanding for 4 years straight with very few big corrections. I would call that exuberant growth! When a market recovers from a huge correction within a couple of weeks or even days then this is not how a bubble works. If bitcoin itself is a bubble, it should not be able to withstand major corrections that occur at least two times on a monthly basis, as investors and the market fail to adapt to the increasing value of bitcoin. Bitcoin has suffered many corrections throughout its history and through that, it is rapidly evolving into a more mature and liquid store of value.
6. Bitcoin isn't a bubble, it's the pin!
I think that is the best way to describe this unique situation that brings us back to where we started off! Cryptocurrency is the pin that will burst the bubble of free market en-slavery and ubiquitous greed and corruption. LONG may it live!
SO without further ado, go buy some Steem!
Happy Solstice To All, it's an honor to be at the beginning of a new era with you all.
You were right about the Internet then, way back in 1994, when people were still using payphones.. I believe you're right on this too. You were always one step ahead of the game.
let's blooming hope so! it sure does seem that way ;-)
I like this, thanks. Before joining steem I had one friend who made $20000 on bitcoin and the rest of us were in the dark. Now that I'm joining the crypto world and researching it daily, I am seeing more and more how it is changing the world and how This is only the beginning! Bubble shmubble is my opinion too- this is going to go down in history as the way the people took the power back! So many parallels between crypto abundance and earth's abundance. It's about time we had a currency that reflects the natural order more and not a zero sum rigged game run by the Fat Cats!! <3 as always, enjoy your posts and love your energy!
thanks for your delightful comment! we are on the same wavelength! ;_)
Really it is rapidly evolving into a more mature and liquid store of value.
thanks for this post.
Nice post keep the good work up...
Its very informational post. Thanks for share
nice info about stability of crypto currency. Yes next era is the era of crypto currency Bitcoins already proved it. keep sharing @eco-alex
A very valuable lesson .. Then thereby help me with the power you have And let me share this instead of your strength ...
Love your optimistic take on things and surely hope you are right - it is time to take down the corrupt system and reclaim our power. xox
i do have that feeling! when i discovered crypto i had the same intensity of feeling if not more then when i first discovered the Internet!
I have been discussing with my friend about this topic too.
If bitcoin were a bubble, why aren't the USD or other currency is? They print more money when run out of cash, and then further deflate the value of our hard earn money.
That vs the cryptocurrency & blockchain, which has added value to solve real world problem.
i agree with you because it is damn true...
Great Words to live by!!!!
I have been discussing with my friend about this topic too.
If bitcoin were a bubble, why aren't the USD or other currency is? They print more money when run out of cash, and then further deflate the value of our hard earn money.
The power players are already playing the crypto market it seems but the way I see it, we are in a window of opportunity right now and some of us who make it through (many of which make up this great community) have a bit more of a moral compass, so I image the redistribution of resources, however small, will lead to massive positive change.
Good things are coming if we invite them!