It says that cryptocurrency is the money of the future world, and I agree with it because we are living in a digital world, and expecting that everything will be updated is very natural. Cryptocurrency gives us full access to our assets, and that's the reason people are getting interested in cryptocurrency, and the use of cryptocurrency is increasing with time.
The governments of many countries are not ready to accept cryptocurrency because if they accept cryptocurrency, they will lose control of the assets of people. Some people don't even understand how the government controls our money because we can withdraw our money from the bank also. I think when I come to face an economic crisis, it can be noticed easily. Bank authority can set a maximum withdrawal limit, which is ridiculous in my opinion because as the owner of the money, I should have the power to withdraw all my funds at any time. Nobody should have the power to restrict me from doing so, but in the bank, I have seen such a kind of situation several times.
In this present world, we still maximize paper use, cash money, and banking systems for daily use. Cryptocurrency is getting popular in recent days, but a very small percentage of people have basic knowledge about cryptocurrency. People fear the stock market, let alone keeping their money in cryptocurrency, which is more volatile than the stock market. Moreover, the system paying through the crypto is not available in most of the places.
Is it possible the world will run on cryptocurrency without depending on cash money? The answer is very much possible, and I think in the future there will be no cash money for transactions, but right at the moment, it's not possible because every change takes time, and right now only very few people have the knowledge of cryptocurrency.
There are also some risks in cryptocurrency because the price of a crypto can go down, and it can bring loss to the investors. In that case, I think there are some slow-moving cryptocurrencies that can be an option to invest in if someone fears losing money. Again, there are many stablecoins. So I think market volatility is not a matter of concern if anyone is afraid of losing the price value.
I have seen one of the authors mention that there are many illiterate people who can't make transactions, but I don't think it's an issue because people will learn things automatically when it is necessary. Smartphones are the best example of this. And it came new; many people didn't know how to use it, but in this present world, everyone knows how to use a smartphone, and people learned it because they know that they have to use it as they can't ignore it. So there is no doubt that cryptocurrency can fully replace cash money, and that is going to happen in the future, and I am very confident about it.
It's the 15th of March, and I think all of us know that it's an important day because the 15th of each month is known as LPUD.
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This year, I have determined not to miss any LPUD, and I am still sticking with my plan. I just power up a little to participate in LPUD. I hope you have also done yours.
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