Cryptocurrency : "THE MIRACLE OF FUTURE"

image source : https://www.corporatecomplianceinsights.com/regulatory-oversight-cryptocurrency/

Hi guys..!!, We all know that Decades before bitcoin was created by Satoshi Nakamoto in 2009, it is a strange thing to talk about a financial system that can reach all people on this world. At that time all financial transactions between people had to go through the bank as a third party. Even online transactions must be under bank supervision. This condition is considered less than ideal because not everyone in the world has a bank account, even they have no access to bangking as well. We find this condition in many poor countries and some parts in developing countries where the banking system is not yet massive and stable to support all existing financial processes like in develop countries. The existence of cryptocurrency is the answer for that problems. Which would slowly remove the centralized banking system that limits world financial connections. Everyone will have equal opportunity and access to this new financial system. A financial system that faster, more practical and globaly than the banking system where we need to visit a bank and do administrative first before making transaction such as filling out a complete identity and etc. that more Complicated and wasting time, right? ....

Bitcoin is just the beginning image source : https://www.coindesk.com/about-that-orange-b-the-history-of-bitcoins-logos

As the first cryptocurrency to break through the conventional financial system, the launch of bitcoin by a Japanese in 2009,Satoshi Nakamoto. did not necessarily get a good reception by the world. Especially economic globalists who are accustomed to conventional financial systems who actually oppose the presence of bitcoin a lot. For example, a famous figure such as the CEO of JP Morgan, Jamie Demon, strongly opposed the existence of a cryptocurrency called bitcoin. In fact, he said that the people who adopt this bitcoin financial system are stupid people and he will even fire his employees who are involved with bitcoin. The journey of bitcoin is not easy to be underestimated at the beginning of its existence in 2009, then held as digital gold by financial world observers because its price suddenly boomed in 2017 which reached a price of $ 19.497 but suddenly the price also suddenly fell to a point deposited to $ 3.608 in January 2019. And as a result of this phenomenon many doubt the digital financial system of which bitcoin is the pioneer. Bitcoin is considered to have failed and in time it will collapse because it has no value as stable as gold and fiat money. Which incidentally already has a strong base of trust among the world community. Meanwhile bitcoin is not only newly created but also introduces a new system. So it is not surprising that the world community's trust base in digital currencies was still low at that time. And it can be seen from the booming price of bitcoin in 2017 where transactions were dominated by only a lot of market speculation compared to transactions capitalized on a strong base of trust in this digital currency, so it's no wonder the price of bitcoin suddenly rising in 2017 and then fell in the early of 2019. However, until now, bitcoin has proven its existence and even continues to move forward, and this is still the beginning ... yes, bitcoin is only the beginning of this digital financial system, we will be patiently waiting for the breakthrough of other digital currencies ...

Cryptocurrency in 2020 image source : https://www.financemagnates.com/cryptocurrency/news/whos-actually-using-crypto-in-2020-what-are-they-using-it-for/

We've had some very difficult times during 2020. The covid-19 virus pandemic has caused many losses to human life. The limitation of interaction between individuals and societies has made globalization seem meaningless. We must maintain strict health protocols by carrying out almost all of our routine activities online, such as school, shopping, attending meetings etc. On the one hand, this year humanity is indeed facing difficulties, is limited and forced to be passive. But if we look at the other side there is a momentum that makes it easier for us to adapt to this new model of life. Humans began to realize that interactions between people could not only be done by meeting in person or visiting several clothing stores to buy a few pieces of clothes. In this era of digitalization, everyone can still interact with each other, whether it's just greeting and asking friends (how are you? To the interaction of financial transactions. Well, we may need buy some food, buy some clothes or we want to buy the newest gadget that has been a long time we want it. But what if conditions do not allow us to visit shops and markets or how our cash runs out and we are lazy or don't have time to visit banks…? Of course that's a problem that must be solved. And cryptocurrency could plays an important role. The online activities of the world community including their financial activities in the midst of this pandemic have made cryptocurrency seen as a solution to these problems. And trust in cryptocurrencies has begun to build rapidly and massively. So it's no wonder the increasing demand for cryptocurrency currently has a direct effect on prices cryptocurrency itself. The increase in the current price of bitcoin is an indicator that the base of trust in the digital currency is strong enough, it can be seen from the start of the many large companies that have bought bitcoin to support their business. For example, $ 100 million bitcoin purchases by one of the largest insurance company in the USA, MassMuttual this year.

So guys.. what do you think about the future of cryptocurrency..?, please comment bellow..

Posted Using LeoFinance ^Beta