https://pixabay.com/photos/network-earth-block-chain-globe-3607640/
A Trustless World.
Cryptocurrencies are thriving for a multitude of reasons. Some include; a more frictionless, secure and private way to transact value; a geopolitical shift from a unipolar to a multipolar world, and a growing number of nations that are diversifying their political and economic partnerships because they do not want to be dependent on any one economy. Hence, we are moving into a trustless world. And Bitcoin, along with other protocols, will thrive in this future.
People love their privacy.
It is no big secret that cryptocurrencies have much less transactional friction than a siloed fiat based system. Cryptocurrencies are also more secure, relying on cryptographic proof instead of trust. And because cryptographic proof is used instead of trust, there are less “trusted” third parties to compromise account anonymity, this adds to more participation, because people and governments love their privacy. These are some of the reasons people find more value with network money.
A decentralized global system.
The geopolitical shift from a unipolar (led by the United States) to a multipolar world (where no one nation has a clear economic, military or political advantage over the next less-powerful few) creates a more decentralized global system to where decentralized platforms will act as global clearing houses for trade.
Non-nation-state based store of value.
Crypto economic protocols such as Ethereum, Cardano, or Bitcoin (as a non-nation-state based store of value) can easily gain market share in this kind of multipolar environment. The logic is, why choose sides (allocating wealth) in an ever-growing power struggle between major powers where it can be seized by a national government because I didn’t choose the “correct side.” Especially with growing tensions between China and the United States, and the conflating alliances that are born from that.
In Conclusion.
Cryptocurrencies came at the right time; where frictionless, secure and private transactions; geopolitical shifts, and new economic partnerships are more sought after than ever. I am looking forward to this brave new world, and keeping my fingers crossed that we all do it right.
Stay frosty people.
50% allocated to ph-fund.
Greetings my dear @fijimermaid, sinduda we are in time of political and economic transcription, where cryptographic spaces have acquired an important boom that projects them to make the replacement of fiat money, now only time will give us the reason in advance I comment that the digital world has been a timely exit for many where the rulers do not offer guarantees to its governed. Thank you for your contribution
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"a timely exit for many where the rulers do not offer guarantees to its governed."
Well said.
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excellent post my friend. Cryptocurrencies are here to stay and not only that, but every time there is a breakthrough into a new economic era the old world economic system is endangered.
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Thank you :) And the old world is forced to change or be obsolete.
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Thanks for sharing indeed crypto space came at the right time.
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Indeed it did :)
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Very interesting post. Another aspect that makes cryptocurrencies very popular is that they can be used to buy anonymously; although each transaction of this type of currency is in a public record, the names of buyers and sellers are not revealed, only their wallet IDs. While this keeps users' transactions private, it can also lead to transactions involving illicit activities. However, according to a study conducted by Stanford University, it was revealed that in the case of Bitcoin (a type of cryptocurrency) only 1% of transactions are used for this purpose.
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You make a great point. The vast majority of people on this planet are good people that do good things. Bitcoin, or any other crypto for that matter, will be used for food, clothes, pet toys, vacations and so on...not for illicit activities like government officials say sometimes. Crypto is just a better way of transacting value, that’s it, and people will use crypto like they use any other medium of exchange through history, like fiat, gold backed currency, precious metals, seashells, and stones.
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All right, much success
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