Dear Hive Friend and Hive Learner Members,
Made with Bing
As I remember in the year of 2016 or 2017 I heard of the Cryptocurrency and of course the first crypto I come onlnow was the mother of all crypto currencies i.e. Bitcoin. Just after that I come to know about the Hive Blockchain and I start exploring and start the blogging to earn some crypto. During reading and blogging in Hive I come to know about the play2earn concept and I started my first play2earn game i.e. Splinterlands and I must say it's one of the best game on Hive Blockchain till now in my opinion. At first I was also have the fear and thought that the Cryptocurrency are the scame and this was very obvious because of the all negative talk around me about the Cryptocurrencies. The government is never in favour of adopting the crypto and one big reason is the decentralised nature of the Blockchain. This will take away the control form the hands of the politicians, who are the part of goverment and trying to take very all controlling elements in their hands. The banking system is also not in favour as they will lost their value. But on the other hand this will empower the people and give the power in their hands in a decentralised way. The main fear of the people is the volatility in the crypto world and the government regulations which are not in the favour here in India. To overcome the volatile nature of the crypto the developers come up with the concept of stable coin. The algorithm ensure that the owner of the token will get the pagged value i.e. equivalent to the one dollar. This solved one big problem related to the Cryptocurrency which was a big hurdle to use them as a currency to purchase the day to day items also. The USDT and HBD are such token who pagged to 1 USD and people can purchase items with them without the fear of high gas fee and the price fluctuation issues. A fiat in the name does not give you much appreciation but if you look at the price history of the Bitcoin it has touched the new heights in previous days. No doubt the annual intrest earned form keeping the money in the bank is not even near to the aprice appreciation of the BTC. The stable count like HBD offers 15% APR which is also unbeatable.
If I look at the historic chart of Indian rupees then it's very clear it lot its value over time infront of the the USD and on the other hand the price of BTC has increased a lot in USD term also. The concept of crypto currency is very effective for the people like India where the national currency is loosing their value. The crypto do not follow the boundaries of a country which has positive and negative effects on overall ecosystem. On one side it's very easy to send the money overseas and you so not have to go though a process and also not have to pay the transection fee or currency exchange charges also, which is shows how advantages it is. But on the other hand this is very easy way for the criminals to send fund without any information to the relevant departmens. But if the Cryptocurrency is the only way to my financial transections then this also means all the counties are on same level interms of currency price as their will not be any change in price. The price of BTC in the USA will be same as in India.
In case of fait currency printing their is a procedure for same. Any government can not print the currency like anything. They have to make sure the equivalent reserve of rare metal. But in case ofthe crypto its mathematical equations run by a software which is recoding the ledger. That is the reason most of the people consider it as a big scam. If we look at the rare earth metals like gold and silver, they have good value in the market because they are rare to mine form the earth, otherwise they do not have any other special characteristic and in similar wasyba Blockchain is also unique in nature and the token minted once will not be produced again and the mining quantity is also getting half after a time intervals which make it rare. We are living in the world of technology and we need a currency which is technology driven.
What are your views let me know in comment section.
Thanks for stopping by my post.
Let's Connect
Hive / #LEO : @guurry123
Twitter: https://twitter.com/guurry123
Discord: guurry123
Posted Using INLEO
