Most people and governments of various nations have all come out to warn people about holding and trading of cryptocurrencies, but these warning will not make cryptocurrencies go away. You might ask why. Not to worry, this article will offer reasons why Cryptocurrencies will not go away in 2018 and the coming years.
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Some of these reasons include :
Inflation of Fiat Currencies
The inflation rate of fiat currencies is one reason why cryptocurrencies won't go away. For example, more people in Venezuela and Zimbabwe are running to invest in cryptocurrencies because of the inflation level of their local fiat currencies. This means that if the inflation level rises in other countries, more people will keep investing in cryptocurrencies making it more difficult for it to go away.
Experts have predicted that Euro (€) will drop in value against the US Dollar because of the Brexit. If this happens, it definitely means that holder of Bitcoin and altcoins in Europe will experience a 10 to 20% increase in the value of their respective tokens held. Also, it is predicted that an economic crisis will happen meaning that more people will invest in cryptocurrencies in the future to ensure that they do not lose their money when this crisis occurs.
Scarcity of The Digital Tokens
Most cryptocurrencies have limited supply of their tokens. According to one crypto commentator, Altucher James, he said that there are over 16 million millionaires in the world today, there are about 16.6 million BTC tokens in circulation meaning that one millionaire can only buy 1 BTC. This scarcity is why more people would keep investing in them. If a particular coin is scarce the value will keep increasing meaning that more people would want to invest and make profits.
This scarcity will make more people want to invest in cryptocurrencies as they stand to make profits from them.
Security
It will be difficult to forget the financial crisis that occurred in 2008, where hundreds of people lost their entire life savings because most banks went bankrupt or were liquidated. Although European countries helped some banks to repay the victims, other still lost most if not all of their life savings to this crisis. The decentralized nature of cryptocurrencies ensures that individuals get total control of their funds. Investors of cryptocurrencies do not have to pay for tax and they can carry out anonymous transactions without interference from any third party.
Applications
Cryptocurrency platforms are not only designed for trading and exchanging, most of these platforms offer users various technologies that will ensure that certain services are catered for. Cryptocurrency platforms like NEO, Ethereum, Cardano and others allow users/ developers' to develop decentralized applications that can be used to solve certain societal problems. Also, cryptocurrency platforms like Ripple are used to make payments across countries. These important features and uses of these cryptocurrencies are one reason why more people are beginning to invest in them.
The more people invest and hold crypto coins, the more difficult it becomes for them to go away.
Good article mate thanks, I totally agree . Cheers mike
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Well said. And I think that the comment on limited supply is completed relevant. After all, history points to many examples of countries simply printing more money to keep the economy liquid. But. ..... inflation becomes an issue. I for one, would not like to cart of bucket of notes to buy a loaf of bread! :)
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This is a great information indeed.Hope to see the cryptocurrencies rise @cryptoletter
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Coins mentioned in post:
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I so much believe Crypto currency is the present and future. It is here to stay and I'm glad to be part of it @cryptoletter.
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If the euro drops it is because nobody likes the EU. The euro is already printed extra just like the dollar. I never heard my government say not to invest in cryptocurrencies and to be honest I would never take a government it's advice. They are good for lies, high taxes, fake news, filling their own pockets. There is no reason to leave it on the bank either. A bank acvount only cost money, there is no interest for the savings either.
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Cryptocurrency is here to stay.. Its value will increase
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We all that fiat currency is an old and obsolete system, the only problem is no one want to turn it's back against it. Especially in term of exchange, everyone's want money.
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We all agree with the face that soon there will not be fiat currency anymore . It wont last for long . People want to know their money safe and crypt seems to do the job . This is a possible reason crypto wont go away .
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Hi @cryptoletter I agree with you in most of the mentioned points.
What has to be done is giving people more possibilities to cash out their cryptocurrencies to Fiat-money.
It is not about that I love Fiat in real I hate this because it holds their owners like hostages from the central banks who gave it to the people without any worth on it more than the material for printing or pressing is worth.
And of course, these institutions try to destroy the crypto´s but like you already stressed out in your post this will not take place!
Therefore, the time has gone because today there is to much people involved in holding crypto currencies all over the world, and nobody from the old establishment is able to dominate all the states where the owners are.
As well as more opportunities to spend the crypto´s directly showing up it will become more and more impossible to change something by the old system lords (even if the like to get it done).
In my eyes the biggest effort will make the processing of transactions for property and vehicles because these are the major categories to boost.
So, let´s think positive and work on it!
We will take action in one of this fields very soon and looking for people to help to get it done.
With sunny greetings from Andalusia
Don Thomas
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Don't forget about the numerous utility cases of cryptocurrency and I completely agree with your other points.
One example is the Facebook and Cambridge Analytica story.
The majority of people fall into one or both of these categories:
Things like Steem, Presearch, Ong, and many more are better solutions to everyday things which we use. We are rebuilding the world on top of a new way of doing things. We haven't even scratched the surface if you think about it. LinkedIN, Indeed, etc, will soon see their crypto competitor pop up with a more efficient and fair system.
Follow me @byzantinehash, making a witness intent post in the next few days and need all the help I can get. I will be doing a lot of posts that have no author rewards randomly to give back to the community.
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cryptocurrency is reality now and no one can stop it.
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Cryptocurrencies won't be going away, but "will cryptocurrency replace fiat currency?". If you are someone who welcomes this change, head over to Blockbasis, where you can send and receive crypto using only an email. We hope that this feature makes crypto more accessible for the common consumer to use cryptocurrency in their daily lives.
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