You are viewing a single comment's thread from:
RE: Cryptocurrency has not declined. Just the value to USD has... So Let's see what that really means..
I am new to the cryptocurrency world and I love so many aspects about it. The decentralized nature of it is my biggest draw and a reason that I am beginning to invest in it. What guarantees are there that the "severe rich" will not be able to take advantage of it, and wrest control in some way? The powers that be are not going to stand by and watch a source of power (currency control) be scattered to the masses. I recognize that this question comes from a place of ignorance about blockchain and the nature of cryptocurrency. I am but a newb in search of knowledge.
Thanks for the post. I look forward to more.
Does that stop you from using USD today? No?
So what changes? :)
The difference is that cryptocurrency allows you to hold funds in your own private wallet, and transmit those funds to people you want. There is no need for a bank or a Western Union or even a Paypal.
But! If banks, western union, or Paypal where to get involved in their own unique way, they could be making millions before their competitors start doing it. So eventually cryptocurrency will probably become a mainstream, efficient way of transmitting money on the internet.
Imagine that, no credit card needed. Cryptocurrency is best suited for fast internet transfers. It is only the news that keeps saying that it can be used to fund terrorists.
Well here's a spooky thought. 9/11 happened before Bitcoin was even created. So what is their point of demonizing cryptocurrency so much? It's stupid.
Good point. I had not thought of it that way. As much as I am loving the CC world, I remain skeptical mostly because it pushes me to keep reading and learning. I will definitely be reading your posts as part of that.