There have been recent claims that not just Bitcoin but all Cryptocurrency and Blockchain Technology is headed into a Nuclear Winter. Similar to what AI or Artificial Intelligence went through in the 1990’s. This stems from the last 12 months of trading activity in the Cryptocurrency Markets. It is well known that the price of Bitcoin or Cryptocurrency is based on standard supply and demand economics. However many people miss the primary facts of Bitcoin and Cryptocurrency in general. You see supply and demand is too basic of a way, in which one can judge whether or not cryptocurrency is failing.
To really understand if Cryptocurrency or it’s counterparts CASH are actually winning or failing, we must look at some fundamentals of the blockchain including core solutions and problems that not only Bitcoin but also Cryptocurrency address. It may be true that not everyone in the world is working for Cryptocurrency, however it is also true that not everyone in the world is working for the Fiat Currency USD or the United States Dollar. Billions of people work for different currencies all over the world. It is however uncommon for someone working in the United States to be paid in British Pounds rather than USD.
In contrast there are several millions of individuals just like myself that are being paid in Bitcoin, Ethereum, or Cryptocurrency for their services rendered. Granted USD is also being received for services rendered majority of my income is coming in the form of Cryptocurrency. This can then be converted via exchange services into any currency you wish for example USD. These services work in the same fashion as an ordinary currency exchange service or company, however have shown to have significantly less fees than traditional currency exchange services.
Transaction speeds for purchases are about the same to that of Credit or Debit Cards, with the exception that merchants or any receiving party will get their funds instantly opposed to within 1 - 3 business days depending on your banks agreements.
CASH IS KING AND ALWAYS WILL BE… Unfortunately this not the case. You don’t value a ream of paper as much as a stack of cash but they are exactly the same. People will claim cash is not paper, but will freak out if you try and rip it up or burn it. Because that’s all it is, paper. The worst part is we are all required to believe and trust that one dollar will always be one dollar. Yes this maybe true theoretically. But will one dollar always be worth your time? You think that paper in return for labor or time is worth it than by all means fiat is worth it for you.
Do you know why labor rates go up every year or why people are still poor year after year? It is because they keep printing more and more money or what you call CASH. It is so bad they don’t even know how much is even out there or what is fake. This causes huge problems in a working ecosystem where day after day people show up to work for something that is completely fictitious.
The reality is Blockchain Technology has and is paving the way for finance. It is creating an undisputed ledger that can never be altered or changed. That can provide banking for billions of people and know all of their balances instantly. Cryptocurrency will never let your account go negative and owe an overdraft fee because it knows at all times what is yours and what has been spent. It does not need to wait for batches to close and withdraw funds. You do not need to trust anyone with your money or request to see it. You have access to it at all times.
You can’t spend Bitcoin or Cryptocurrency like you can cash. This is just a funny comment, people really should look into BitPay or Shift by Coinbase. You can easily and instantly transfer money “Bitcoin or Cryptocurrency” into any of these accounts so you can spend it effortlessly. (Which I use on a daily basis for gas, food, rent, and other things I need to buy. I don’t even use my Chase card anymore).
All of this “Technology” has been added to Bitcoin, Cryptocurrency, and Blockchain in just the last 10 years. To say that we are headed for the Crypto Nuclear Winter now after everything we have just accomplished, I don’t think so. Plus there is more, yep that’s not all. This just shows how much better Bitcoin and Cryptocurrency is compared to its counterparts “Fiat and CASH”.
Now as we are entering into a new digital era, where the stock markets will begin to actually go into a winter phase. This is because many know and see the potential of Cryptocurrency and Blockchain technology. As we enter into 2019 and 2020 we will see many more companies start to register with the SEC as securities (if they are not already). You will start to see a transition from regular Stocks, Options, Bonds, Indices, Commodities, ETFs, 401k, and so many more go to cryptocurrency. IPOs are the day of the past, now all you will start to see and hear about are ICOs (Initial Coin Offerings) and STOs (Security Token Offerings). What investors want is a limited supply product to invest and hold onto. They will be happy to receive dividends in Bitcoin, Ethereum, XRP, etc. that will be used to reinvest or hold as an investment.
Long are the days of the stock market and early adopters are always the winners just like when the Stock Market was just starting same as the Cryptocurrency Market is just starting. All in all an inflation model has proven itself to fail year after year. There is a reason why you can not buy a burger for 65 cents anymore. Now as we progress into the digital age, things will become less expensive as time continues. Wish you all the best, I wanted you know that the Crypto Nuclear Winter is not upon us and has already passed. Those that should be concerned are the Stocks, Options, and Forex markets.