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October 07, 2015, 06:07:54 AM |
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The future of Cryptocurrency (Bitcoin being the leader) is within
my future startup.
I will explain.
From what I have researched, cryptocurrency has an acceptance
issue due to some false claims.
The first one is it will be used for illegal activities. This is the most controversial
aspect because of the media, which have no knowledge of the system.
Illegal activities have and always will exist, doesn't matter the type of system
used for the exchange of goods and services. The claims is that it will make
transactions easier. This is a completely false statement to lure the majority
into believing this. If people want to commit illegal activities, transactions
have NEVER been a part of the problem.
The second false claim is that it won't be viable because governments won't and
aren't accepting it as a currency. The reason to this is because they know that
their economic and corrupt power will end due to the TRUE DEMOCRATIC
ECONOMY emerging. Imagine, all these dominant countries lose their power
because people now have freedom to truly earn what they deserve, without having
to give part of it away because some retarded politicians want an easy life and
leech off the hard workers. Thing about it, would you be productive in a trashy
workplace without the need for janitors?
Of course not. Each one has an important role in a company.
The third false claim (and this is for the more technical geeks) is that the network
won't be able to handle micropayments. This is true in one aspect, but why use one
virtual currency when there are a lot more that can be converted into others, using
the necessary conversion in order to process a transaction more efficiently. For
example, you live in a country that uses Euro and you are buying something from
India, the conversion as of today (October 7th, 2015) is 1 Euro = 73 Rupees. Lets
pretend that what you are buying is equal to 1 Million euros. Do you think the seller
would prefer 1 Million in Euro money or 73 Million rupees? Obviously the 73 million
rupees would require more security, counting and checking. That would require the
buyer or the seller to pay more in taxes for intermediaries to count the money, make
sure it is safe and that the transaction is legit or you could just send 5 bitcoins (fictional
conversion) in mere minutes to complete the transaction.. My points here is that there are
3 virtual currencies that will dominate the market depending on the need of the individual
or company.
The fourth false claim is that the network will lose it's ability to process transactions
due to the high cost. This is completely false because it will interest someone or
some company. If a company is making money with cryptocurrency, they will have
a high interest in investing in the network to run as smoothly as possible for their
own benefit thus continuing the processes without the need of the declining network
and it will be accepted because it will already be a mainstream payment like credit cards.The future of Cryptocurrency (Bitcoin being the leader) is within
my future startup.
I will explain.
From what I have researched, cryptocurrency has an acceptance
issue due to some false claims.
The first one being is used for illegal activities. This is the most controversial
aspect because of the media, which have no knowledge of the system.
Illegal activities have and always will exist, doesn't matter the type of system
used for the exchange of goods and services.
Please,
Make your contradictions and I will reply to them, I am positive that I can
contradict any argument because I believe that cryptocurrency
will go mainstream VERY SOON due to it's high potential that no
other type of payment system can be equivalent.
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