Most of cryptocurrencies are bound to USD

jawad.ahmed (25)in #cryptocurrency • 7 years ago

I tried buying various cryptocurrencies but never succeeded, specially in last 2 days i have been trying to buy Ripple but in vain. Where-ever i go i cannot find any site or exchange offering to use credit card in exchange for some sweet coins. All the major exchanges only take US customers and even most of them are under high user surge and pretty nonfunctional. This leaves the non-US crypto aspirers out of the game. I tried everywhere; forums, reddit, official websites, exchanges, even shady gambling sites and faucets but none has slightly rewarded me. I don't own even a single crypto currency.

This makes me think that majority of crypto currency is only circulated in the US market. Ok i guess some in Europe also because there are some country specific exchanges in Europe also. I don't know why China is mentioned in a lot of cryptocurrency related articles.

So much for a truly decentralized economy/finance/payment system where majority of coins flows out of majority of peoples reach.
What i see currently is the currency being treated like a stock market index or trade-able share which the "investors" are "holding". This is the reason why we are seeing the so called bitcoin price hikes as no one is selling. But the main limitation is the non globalization of the technology for average Joe. If it were truly decentralized it would become a nuisance for the governments and banks and a blessing to the people but rather it has become a get rich scheme of the people getting "in" on the pre-ICO time or closely related to the project.

I might be wrong in some of my opinions but not all.

#ripple #ico #blockchain