Hi there everyone, TheRingMaster is back again with a blog on Cryptocurrency. I can imagine right now people that invested in certain tokens including Hives and Bitcoin may fear the drop in value but this is a natural rollercoaster of all cryptocurrency.
The one thing that makes people shy away from entering the crypto industry is its volatility. Imagine if Crypto was not as volatile as it is. I'm very much well aware of Stable Coins but let's just picture a scenario where crypto value remains unchanged, that would have a lot of people if not the entire world jumping into the industry and converting all their traditional cash to crypto.
Now the question is why am I so certain that almost everyone will jump onboard the crypto wagon if volatility was not amongst the traits.
The answer is quite simple and it's in the title of this blog. Cryptocurrency is way beyond Trading, it's financial control, speed, transparency and convenience, most of which traditional currency would not offer.
Crypto Trading
Very few people in the world have a heart for risk and I believe that contributes to why the successful are few because it takes risks. Yes we say day traders and stock traders a lot but taking a scale of the population of the world, crypto traders are very few.
I don't need to explain the details of trading because I assume you may already be aware of it but just imagine purchasing something you intend to sell for profit for let's say 10 dollars and in an hour it drops to 7 dollars as it's new value. That's a loss of 3 dollars in one hour. Now the reverse could also happen where you bought it for 10 dollars and in an hour it rose to 13 dollars and that's the chance Traders take. The risk involved is what scares people who wish they could enter.
However I would like to point out the fact that Cryptocurrency is much more than just trading. I think this awareness needs to be spread more than videos of crypto traders getting richer or losing big sums of money. The adoption message needs to be checked very well.
The Right Adoption Message
If you've been following the political news in the United States of America, you'd already know about the election ahead and the heated competition between Donald Trump and current president Joe Biden. President Biden's results as president is evident and Donald Trump's results are also evident but for me I wish for anyone that would be in favor of Cryptocurrency to win the election.
Apparently Trump is referred to as the Crypto president and he has his own cryptocurrency so I guess he's in favor of crypto. He made some bold statements in his speech and made promises to create a better country in favor of crypto holders.
The reason I raise this point is because Cryptocurrency needs a good image in the world if it's going to be adopted worldwide. If a president and a party in favor of crypto gets power, it may help us achieve a good image of crypto.
The right adoption message that I believe needs to be spread is not crypto trading but financial control.
The Decentralization of crypto and Blockchain is something that gives control to its owners. At the moment, the fact that you have millions of dollars sitting in the bank does not exactly mean you have control over that amount of money. It's totally possible to go request for all your money and be denied by the bank based on an excuse that they don't have your money upfront. So you would be thinking you have cash but don't realize that the banks have already used your money in loans and investments.
In the event of an emergency where you need that money, I wonder how that would feel like to you being denied of your own money which you need. The funny thing is they would be quicker to give you a loan instead.
This is why crypto is so important. You don't need to ask anyone's permission or drive to some local bank just to get money that already belongs to you. Your cash is available to you 24/7. I believe this should be the main message sent across.
The Government's War On Crypto.
I've written a handfuls of blogs for the past two weeks on the government and crypto so I don't need to go into much details. However one thing I believe the government is doing in an attempt to stop crypto from being successful or wildly accepted is negatively impacting the adoption message. Whenever there's an incident of crypto hacks and major scams and ponzis, the corrupt Media blows it out of proportion in the news to scare more people.
They tell you we are protecting you from incidents like that but the main point is to take your financial control from you. This is the biggest value of crypto and the biggest reason Governments hate it. Just like what's happening in Nigeria and some other parts of the world, Governments are getting very strict with Cryptocurrency and in a way forcing the citizens to keep away from crypto.
Hopefully things get better and that's why we desperately need political leaders that are in favor of crypto. Hopefully if Trump wins and is true to his world, he would favor the crypto market and that would affect most parts of the world.
Stable Coins
Well with the scenario I gave about a stable value crypto that barely changes in value, I doubt we may ever have a crypto that never changes, let's be real, no currency whether digital or traditional ever stays the same but with Stable Coins existing, I believe we can have a full economy running effectively while being crypto dominated.
Take Hive's HBD, it already allows some users in Venezuela to buy products and make payments in HBD. I wish this happens for the whole world. Well if that happens, that would definitely be the end of ATMs for me personally.
- You can check @hivesucre community for more blogs related to this.
Payments would be so fast, you would have access to your money at all times and it would be very easy to do. HBD value also changes but it's still a stable coin so it doesn't increase or drop but that much of a margin.
Speaking of HBD on Hive, I absolutely love the interest rate on HBD Savings so I invest basically everything I earn here. - All this with no Tax, pretty sweet right?
I also heard in the news that Trump wants to completely eliminate Income Tax in America if he becomes President again. I don't know exactly what the trade off would be if not increasing prices of things but crypto already comes with no income taxes since government find it really had to track your expenses and payments with crypto.
The benefits of crypto is so great and it's sad that the Media which almost always works for the government has covered that side and only projects the bad side of crypto.
It's our responsibility to send the right message across and get more people involved. Crypto will eventually become more powerful in the future but the right Adoption Message will speed up it's glorious future.
So friends let's step out and keep sharing the right adoption message.
- Infact I'll start by creating this quote
Crypto is control that's why it begins with "C" - By TheRingMaster
Thanks for reading and would love to get your feedback on this blog topic.
