Are crypto currencies really the way forward?

illyab (47)in #crypto • 3 years ago

To boldly go where no man has mined before

I've been asking myself this question for a while and I realized that just saying "yes" would be just oversimplifying it. We gotta think about the implications of crypto currencies and how they've been falling more and more into mainstream or "crypto normies".

Risky Business?

What was once a niche for a high risk low reward type of application has now turned into perhaps one of the most profitable markets available around. As crypto currency mining turns more and more into a coloquial "hobby", more and more people are brought into this world. Of course old school investors believe that crypto currencies are a bubble ready to burst sooner or later. They may be right, but haven't we witnessed bubbles burst before? And with stuff we expected to be as firm in its foundations like housing. The 2008 Housing Bubble in the US, as an example, was not too unexpected, but many investors, small or big, lost a lot. Especially because we're talking about big money. So as simple as an add operation is: big money means big risks.

It's understandable that such historical data regarding how volatile global economics will scare some people to the point of rejecting the next step forwards. The evolution of economics as we know is right here. It's all about whether the gray heads will accept it right away or, like the oil Barons with electrical vehicles, will refuse to accept this change. Is it for the better? I honestly can't tell. We'll have to see the next days, months, years.

Whether some people like it or not, crypto currencies have arrived and are here to stay. You either ignore them and maybe miss the opportunity of a lifetime, or you surf along in this new wave and see if you can stay out of the reefs. We're talking about a brand new market bordering half billion dollars. Such amount can't stay unnoticed. Which pill will you take? The red one or the blue one?

Many imply that a unique coin is the future to the world, a thought that amalgamates the ideas of globalists and large financial groups. Europe has attempted it and, while it has its flaws, we still see success to some extent. It's not perfect, but hell, the Euro is up and running until today, right? But crypto currencies have its unique characteristics. Especially technology wise. Like an ore of ferrite, you can "mine" and, Satoshi forgive me, make money out of nowhere. It won't be necessary to explain the whole process because most of Steem users are people keen on crypto currencies and know (to some extent) how the whole thing works, so I'd be redundant.

A new elite?

The implications are there. Buying a video card now has become far more expensive, because of the mining process. We are at the verge of change and unfortunately this comes with a price. A price we'll have to pay for a natural evolution. And who are the new actors? The new currencies? We see how much of an underdog is never an underdog, as is the case of Dogecoin. Everytime big actors show up and merely cite its name, the coin jolts upwards.