Picture : https://pixabay.com/vectors/bitcoin-money-cryptocurrency-4851388/
Cryptocurrency has given open opportunities to everyone. The opportunities are possibilities to earn money from crypto spheres. There are some cryptocurrency parts that give earning to everyone who participate in them. Miners, developers, writers, traders, vidoe makers and other professions that can earn high income.
Miners or ones who run servers to mine coins or operate masternodes will earn reward from new minted coins or transaction fees. In the early development bitcoin miners only need CPU but today mining bitcoin with CPU will only have low hash rate. Mining is one of example of how to earn cryptocurrency.
Cryptocurrency will be the future money
> As soon as people from all corners of the globe are able to realize the pros of cryptocurrency and are happy to take advantage of them, we’re likely to start seeing new businesses flourish in this arena.
https://www.axel.org/blog/2019/03/27/how-cryptocurrency-is-changing-our-lives/
Cryptocurrency sooner or later will be global money. Creating stable coins and elastic coins is the answer to the volatility. Some big companies buy bitcoin in large amount. Grayscale and microstategy pour million usd on bitcoin. It is an indication that cryptocurrency will be future asset. Bitcoin and cryptocurrency is liquid asset. People will save the asset to be kept in wallet or to pay for some business activities.
Potential Profit Just For Holding
Cryptocurrency has profit potential for just holding it. People who hold cryptocurrency for future profit are called HODLERS. They buy or get cryptocurrency from various ways then hold the coin in the wallet. They wait until the price makes incredible profit from their cryptocurrency asset. Then they sell some of the asset. They become sudden rich people.
> The first story of a person, who reaped enormous profits from ‘hodling’ Bitcoin, is about a Norwegian student. He invested 150 Kroner an equivalent of 27 American Dollars, back in 2009, when he came across the Bitcoin cryptocurrency while writing a thesis on encryption. The funny part of the story is that he completely forgot about the investment until the mass media boomed with news on the blockchain technology in April 2013. After holding for 4 years, he netted a profit of 5 million Kroner or 886,000 American Dollars.
Tech Behind Crypto
Other reasons that cryptocurrency will be future money is the technology that back up cryptocurrency. Today, we all know about blockchain, the basic technology in cryptocurrency. On the blockchain is deployed more apps that enable cryptocurrency has function as financial institution in machine without human intervention. Smart contract is another smart technology that can be deployed on blockchain layer. This tech is loved by bankers and economists.
“I’m not a big believer in bitcoin. I am a believer in blockchain technology. I do think we will have a global cryptocurrency at some point where the world understands it and it’s not based on mining costs or cost of electricity or things like that. It will be a more easily understood cryptocurrency.”
In may of this year (2018) former president of Goldman Sachs and former advisor to US President Donald Trump, Gary Cohn explained in a CNBC interview:
https://thebitcoinnews.com/blockchain-but-not-bitcoin-do-private-ledgers-have-a-chance/
Can Blockchain Abandon Cryptocurrency
Blockchain and cryptocurrency is two side of a coin. It can not be separated. Cryptocurrency is blockchain based money system. Without blockchain, the money is not called cryptocurrency. Banks and other financial institution loved blockchain. They may create project based on blockchain but how can they pay the cost fee or running masternodes or miners. Do they run centralized servers? What then, the name of currency? I think it will not pure cryptocurrency.
Though, banks and other institution can create centralized currency, they can not stop cryptocurrency in the market. Let imagine if banks release CBDC ( central bank digital currency). When banks use blockchain to issue CBDC the money can be transfer to cryptocurrency markets. It means, CBDC will be exchanged with decentralized cryptocurrency. So, that blockchain will always be tool to exchange between centralized currency and pure cryptocurrency. In this case, blockchain and cryptocurrency can not be split.
People will use centralized and decentralized currency
In the future, people will use centralized cryptocurrency and pure cryptocurrency. They use centralized currency and cryptocurrency to shop and make transaction that comply with regulation. Some developers try to make cryptocurrency compliant to financial regulations. That is why pure cryptocurrency will be future money together with centralized cryptocurrency.
Decentralized social media Pocketnet.app
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