Why Many Educated People Think Bitcoin Is a Fad

It was my senior year of high school and one in our teachers called us in a room full of new computers. We were told to sit down and “surf the web. inch

“Surf the web? inch What did that even mean? At the time Used to do not live anywhere towards the beach and couldn’t really see why reasoning behind web surfing. It was clunky and pages were slow to load. There was absolutely no way that this would be useful. I went back to the library later that day during study corridor and see the newspaper. You know, the ones you see in hotel lobbies and occasionally outside of restaurants.

All kidding around aside, when people are used to doing something a certain path for way too long it truly becomes part of who they are. I have operations management experience and every time I attemptedto change the process or way of doing something to make it extremely effective I was typically met with resistance.

Some people are far more married to certain ideologies 비트겟 than others. We find it everywhere. I find it with the older generation at church not choice the newer music. Or, for example, the National Little league baseball purists despising the idea of the designated player. How about even simple things like when Facebook or twitter changes the user program? Don’t wreck havoc on my timeline! LOL.

Why then should it be any different for Bitcoin or any cryptocurrency? I talk to people every day who are educated and successful and yet still can’t wrap their heads around cryptocurrency. To me it is like explaining how to browse the net to people in 1994.

Fiat currency (money issued by a government — USD, Euro, Ruble, etc) has this significance behind it that because the government printed this it Must be of value. Whilst it holds true our dollars have value, most people think it is because it is backed by something. As a society we have decided that shiny vitamins we dig up from the ground are “valuable” and therefore so is our money.

When economies are whistling along and governments aren’t overbearing and the wonderful have a relative “trust” in the individual then yes, fiat currency works quite nicely. What are the results when we tip that scale and things don’t go so well? Economists have varying opinions on that, but most of the time overseeing bodies will step up and try to stimulate the economy. This is done by manipulating the economy via tactics such as lowering interest rates or quantitative eliminating. Governments adore to turn on the printing press when things go south.

These types of scenarios can lead to distrust, or far worse. Recessions be capable of turning into a great deal larger problems such as price controls or food shortages. Just ask the people of Venezuela who are protesting in the streets on a daily basis. This is because their government backed Bolivar now has seen double digit inflation and it’s really not even worth the paper it’s printed on. Let that sink in.

The distrust of centralized banks, governments and firms has led to people seeking financial retreat elsewhere. It can be incredibly difficult and costly to move money around the world as well. I used to manage banks and the process was tedious and required many readers on it for confirmation purposes.

Blockchain technology is changing all that. It is completely decentralized which means that no one Us president, Dictator, government or corporation can control it. The online digital accounting ledger known as the blockchain maintains trust and multiple persons nearly instantly making sure transactions for each other. People are financially incentivised to do so. It’s a genius expert to expert operation that depends on people’s avarice to verify each transaction. Because of this, blockchain transactions are also the safest and most secure transactions ever invented.

What the internet did for information, blockchain technology does for transactions. Bitcoin is not backed by any shiny material in the ground, but by something far greater. The lack of trust in traditional fiat currency is causing people from all over the world to move their money into cryptocurrencies. It is a secure and relatively simple method of payment. I can send Bitcoin to anyone in the world for pretty much no fee at all and they receive it promptly. They can keep it in Bitcoin or they can instantly trade it on an exchange back into the local currency of their choice.

Not only that, but merchants around the world are beginning take serious notice and many are now accepting Bitcoin as a method of payment themselves. If i owned a store, I would be BEGGING individuals to pay me in Bitcoin. Those who accepted Bitcoin since the start of 2017 have at the moment TRIPLED their profit.

And it is only getting started. Right now just 1% of the population is confident in doing regular transactions with Bitcoin. Imagine when that number moves to 3%. Then to 10%.

What many people don’t realize is that the more people that jump into cryptocurrency the more value it sports. This is because the amount of Bitcoin that will ever be created is LIMITED. And you can’t have a Ponzi scheme with a limited resource. That number happens to be 21 years of age, 000, 000. That’s it. Once that takes place there will never be another Bitcoin created again.

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