Since the early days of humans on earth, the need for a system of stored value has been needed in order to maintain convenience in being able to create trade, and commerce. Fast forwarding to modern life in the past 100 years ago, people around the world have been indoctrinated into believing that paper fiat currency actually has value, and that it is the best form of stored value to utilize to pay for goods and services. It is definitely the most convenient though, as everyone plays along in the game of commerce by accepting paper value which is actually worthless in actuality.
Fiat paper money is a centrally controlled type of currency to which each central bank in each country around the world has the authority to create and print out nothing, and really does not have a system of checks and balances by having to report to no other authority really.
Digital Cryptocurrencies are now creating a highly competitive alternative form of money which is totally decentralized, and where the old centralized currency authority is seemingly removed from the equation. It is an ultra revolutionary, rebelious, and futuristic ideal where the French phrase Laissez Faire truly takes its shape in reality.
Laissez-faire (/ˌlɛseɪˈfɛər/; French: [lɛsefɛʁ] (About this sound listen); from French: laissez faire, lit. 'let do') is an economic system in which transactions between private parties are free from government intervention such as regulation, privileges, tariffs, and subsidies. The phrase laissez-faire is part of a larger French phrase and basically translates to "let (it/them) do", but in this context usually means to "let go".[1]
As these digital currencies now gain popularity, and its market capitalization begins to grow, it is as if people are awakening to the fact that they were actually using paper money which actually had no value to begin with; however, if we must also not forget that digital cryptocurrencies actually have no value either, and they could be called fiat cryptocurrencies, as they are all based on the amount of coins in circulation, and are based upon supply and demand that is realized through buying and selling of these coins in the international markets.
Still, these cryptocurrencies are rising up so well due to the fact that more and more people are looking for a new means of exchange, and are maybe tired of using the old systematically controlled and manipulated monetary system of the past.
So what helps to create actual value in any currency ? -- If we look at our past human history, it seems that gold has been the element which was always an stable value system which has been pegged to currencies in order to truly create stability by others knowing that there is a finite supply of it. So by the same concept if limited supply value associative pegging is what helps to create and maintain stable value, it may be said that a cryptocurrency like bitcoin which is not expected to exceed 21 million coins, and cannot be forged due to a strong decentralized blockchain ledger system of records contains the similar limited supply rule, which cannot be forged by usual means, except for through a flaw as in the 51% hack method, which has been basically a non-legal agreement between miners worldwide.
Digital Cryptocurrencies are still in their infancy in that they represent only 100 billion of value, versus the 83 trillion of total fiat currency that is in circulation on a global basis. When people say that you are "GETTING IN TOO LATE IN THE CRYPTOCURRENCY GAME" they are very wrong, as we are still in its childhood phases of this new exciting technology and system. You might have missed the initial BITCOIN rise phase which turned everyday investors into multi-millionaires when it was at only $100 per coin, but the GAME is on, and Phase 2, 3, 4, 5, +++ int the opportunities of cryptocurrencies are occuring as we speak.
There are people choosing to place their savings into BITCOIN, and they are rising up quickly, and steadily. With other altcoins, there are people choosing to place minimal amounts of money into the right altcoin ICOs, and are suddenly finding themselves with 25k inside their e-wallets.
These are exciting times to be living, and do so do not allow these awesome huge opportunities to pass you by. Dive in, study hard, and put your brainstorming and analysis hats on to formulate the decisions that will allow you to make the right investment moves accordingly.
THE TIME IS NOW, THERE IS NO TIME TO WASTE. WILL YOU BE ONE OF THOSE WHO RIDES THE MANY WAVES OF BUYING LOW, AND SELLING HIGH, BECOMING A VERY WEALTHY INDIVIDUAL ?
I am here to brainstorm, synthesize, and network with other like minded individuals who would like to exchange knowledge, tips, and ideas so we can all rise up.
Here are some interesting videos that may help to put more thoughts of the past, present, and future of stored values systems.
Future of Cryptocurrencies
Gold backed cryptocurrencies:
http://www.goldscape.net/gold-blog/gold-backed-cryptocurrency/
Money Masters
The Future of Money : Documentary on the Changing Concept of Money and Currency (Full Documentary)
Cheers.
Alien Minds.
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