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In these day and age, you need money to run your daily live. Even a good percentage of avid crypto traders still need money in their land to run everyday errands. Could you believe Nigeria is top user of crypto, The youths used it widely, but they still need to exchange it for Naira down the line. This parallel market will continue to exist till crypto and money sit at the same table. It will take time for this implementation due to universal use of crypto. No frontier and you can use the same Hive token everywhere in the world, no need to exchange it.
I was looking back at historical value of #BTC date to date six years ago, one bitcoin was $265.08. Ethereum itself was merely a thing at 70 cents. The date was August 9th 2015. Many of us did not care much for crypto then. If you do, you are doing good financially with the right move. I knew crypto then. I was not involved with it the way I am now. I did not think or I did not process the information I had then. I recalled in 2014 I purchased couple bitcoin and got rid of it when a bad news spread.
From that time to now, a lot has happened for crypto. So much you can say crypto has an integral part in the life of the diamond paws in the World. #Coinbase and couple exchanges I knew then. It will be hard to turn on your PC reading financial news and crypto is right there. Infrastructure bill has to do with crypto in 2021. It shows crypto transition to real money is getting under way.
Most countries are approaching crypto in a different way in order to bring closure. The value is immense to miss the deadline.
Unfortunately we are stuck to translate whatever crypto we have into the money we use daily if needed. I mention earlier for Nigerians, it is Naira. For Venezuelans it is the Bolivar. For them it is more of the dollar cause inflation is rampant over there. You can name your country and you will get the exchange rate for crypto. There will always be exchange for crypto and it brings more business for all currencies.
We all know crypto is acting as a store of value. This is the best demonstration you can get for any hold crypto. Maybe in the near future one satoshi could set the stage for a unit of account. Due to decentralized way of many cryptos, it is preferable to keep the status quo in order to growth. It is hard to detach crypto from fiat. Remember volatility! At the end of the day, everyone is happy and we all live our suitable lifestyle.
Having some crypto as a medium of exchange can be tricky. Volatility again in the market is well transparent. A BTC today worth will differ tomorrow. Thank you #stablecoins. While I am riding the wave of crypto as an asset, Gold for century was doing the heavy lifting. Unfortunately even Gold has volatility as fragile as crypto due to the size of its marketcap. You wonder which one will prevail. No need to go further, Gold is looking at blockchain to resolve some of its problem. So you see crypto will take the reign as the premium product. Gold will do what it does for years, keep it shiny and give the holders a sense of immobile wealth.
Crypto will emerge as a class asset where everyone gets part of the cake. As long you have access to the internet you have access to crypto. I cannot say that for any currency ever existed. It will benefit many plugged to the system. It may not be easy to transfer by converting, but it will be easy like sending a text. This is the way crypto will empower money. This change makes sense to serve everyone. It is about time the card is flipped.
Can you believe now that one Hive token is around to 1 million Bolivar? This is astonishing to see how value travels from one place to another. That same value in BTC is 988 satoshis. I think we have to live with the exchange rate since nobody wants to drop their currency. You know where I am going.
We go back in circle to the word control. Nothing knew as long we can survive together. This is the reason we have more than 8k tokens in the crypto market.
While the discussion remains at multiple levels, the idea of the end user will sheer from the noise and continue to stand for what crypto will be. Crypto is the best that can happen to this generation. We are always looking for innovation. I think we are at the beginning of something where finally we decide where to give our time and effort to succeed. It will be crazy to store value in a banknotes like CD or else. Deep inside every crypto holder made the switch to consider crypto as money. This is why the holders are growing to an astronomical highs. Even the institution gets the message and they are pushing the button. Banks spend no time to bring crypto now to wealthy clients and soon to everyone. Like always banks are all about profit and sense of assurance in the financial world.
Proactive governments will jump the line to add crypto next to other legal tender. EL Salvador is no exception. The USA stands in the middle with crypto. They know way too well what crypto stands for. For the time being we will ride the wave with whatever currency we have. This way of seeing crypto not fully money, it allows many to hold on to crypto and look for better return as asset class. DEfi is another way crypto alone is making stride. Yes everyone would like to use crypto as money. I do not think many of us care much right now since you are earning quite positive and if you need to exchange you could. Many business accommodate the use case for crypto. Let it be. For liquidity purposes we need to see more for crypto. It is an adventure right now knowing this train only stops for more to get on.
The road is long and we ain't there yet.
