Introduction
Due to certain behaviour or attitude towards a particular thing or people, we might be forced to think of the main idea that attracts those attitude. This idea might either be bad or good, but which ever might attract negative or positive attitude in regards to who it might benefit.
That means when certain people buys an idea, they are totally in agreement with the benefits that comes with it, while the reverse happens when benefits are not attached.
The evolution of currency is beginning to take proper shape globally as people now prefer to have their money in their electronic devices than to carry them about in their pocket.
Trust me, who does n't like flexibility ?
Cryptocurrency which is a digital form of currency is beginning to gain vast attention mostly by those who are familiar with the digital aspect of life.
This currency is not limited to being a means of exchange alone, but it also have the authority of gaining more value as the demand for it keeps increasing. This has literally expose the big difference between cryptocurrency and fiat currency.
Is it right to call crypto currency a money ?, even if it can also act as a medium of exchange just like the fiat currency. This question is what most people don't really answer properly.
Money according to leoglossary simply means any item or record that is accepted as payment for goods and services and repayment of debts, such as taxes. Which means that it is a general language that citizens of a country must accept, not be choice.
Bringing this definition into cryptocurrency, we can conclude that this currencies can also act as accepted payment for goods, but are literally not generally accepted due to personal choice.
This then leads us to the next discussion...
Is Cryptocurrency Really A Threat To Dollar ?
This question is worth asking because we've seen the action of some government and regulatory bodies on crypto exchange firms lately. This action feels like a way to weaken the primary source of cryptocurrency since this digital currency can not be attack directly.
The world currently uses the US dollar, Euro, Pound, etc as the standard unit for measuring other currencies and anything that has worth, with the US dollar as the leading figure.
Due to the competition among this top countries, we've seen several attitude of other countries towards the US dollar due to the power it holds.
Even if the US dollar serves as the number one standard unit of measurement, it can't be accepted freely within other countries, as those countries have their own general language. This has given cryptocurrency more advantage over the US dollar because of how it has find a spot within every country, even though it is not generally accepted.
The american government must have found cryptocurrency to be a threaten figure since it is gradually gaining attention around the world. The idea of cryptocurrency being used within every country seems to be a major fear for them.
Where they expecting other countries to make use of dollar alongside main currency within their country ?.
Do you think that cryptocurrency is a threat to the US dollar ?
My Opinion and Conclusion
I don't think that cryptocurrency is a major threat to any countries fiat, but having the mindset of being selfish, wanting everyone to bow down to your own authority is the current mind state of the US government.
Crypto currency has more to offer than just being a means of exchange. Its appreciation in value has made it very different from other fiat currency and good thinking citizens would want to capitalize on the benefit.
This post is not meant to threaten or act as force accusation against a particular organization, but the idea was deduced from the recent happenings which has placed the author in a conscious state of reasoning.
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