What the Hell is Crypto

I have been interested in Cryptocurrency for a few years now.  Most everyone has heard of Bitcoin but most people don't even seem to realize there are many currencies on the market.  My everyday friends have never heard of Eth, BAT, Blockchain, Mining, Crypto Wallets, etc.  Most have never heard the term Fiat currency.  Most still think the USD is still backed by Gold. 

Facebook's Libra Will Build Awareness

With Facebook trying to introduce Libra, many more people are becoming aware.  Once people become aware and show interest, how many are turned off after they are faced with the myriad of options presented to them?  All the different charts and analysis tools really confused me in the beginning.  They still do, but I at least understand that the tools help you predict the market.  But I don't know how to implement them yet.  So many different wallet options and how do I protect my investments.  Then there are all the scams that you can get trapped in and tapped out.  From the whales manipulating the markets to hacks stealing your money from exchanges...both established and startup, the list goes on and on.    

"There are so many obstacles to bringing new people into the crypto world.  How Do I know I won't lose all my money?"

So How Do We ALL Get Past this Huge Problem and Why Bother?

There are people who believe that Bitcoin (BTC) will die a fast death and everyone holding bitcoin will lose their ass.  Others believe BTC will skyrocket and eventually be valued at up to $1 million USD.  Everyone seems to have their own opinion with charts and analysis to support their views.  But the reality is...for new investors...it could go either way.  This is still a new landscape.  When the internet first started many people laughed it off as a fad.  Same with most new technologies.  But here we are and the world is way different than it was 50 years ago...or even 20 years ago.  So is this a passing fad?  I think not.

While only an estimated 19% of the world's population have purchased crypto, only about 10% understand it enough to invest and stick with it.  19% of 7.7 billion people amounts to about 1.5 Billion people.  And this number is gaining steam.  China has recently opened up it's economy to embrace crypto.  That is huge.  With only 21 million Bitcoins available forever, it seems at some point there will be a race between the US, China, and the rest of the world to get as much BTC as possible, driving the price to staggering levels.  Most other Crypto coins follow the Bitcoin market.  So it stands to reason that the strong ones will explode as well.

Another thing people are becoming aware of is that America is printing money at a fervid pace.  This causes mass inflation.  The USD is not the only FIAT currency facing this issue.  Almost all national hard money currencies (AKA FIAT) face the same issue.  Currently the whole world uses the USD standard to move goods and services throughout the world.  The talk of replacing the USD with another currency is gaining traction.  Will it be replaced next year or next decade or not at all?  That is the burning question.  If it gets replaced by the Chinese currency, the YUAN, as has been discussed by many in charge, we may see a World War III.  Problem with the YUAN is the Chinese Governing system and the issues it has with controlling everyone's information and lives.  Most in the world do not want that.

Replacing the USD with BTC or another crypto currency seems inevitable to me.  The crypto systems will have to become more efficient and are becoming so very quickly.  Once the cap of 21 million Bitcoins is reached, no more will ever be made.  Inflation will no longer occur.  Instead of money being worth less every day, each BTC will be worth more every day.   And it will bring many other crypto coins with it. 

Tether and other coins have been building strong relationships in the financial sectors as well.  This will also speed adoption.

Finally, as crypto becomes more spendable on the open market, the awareness will grow on its own.  Various blockchains are now realizing this and the stablecoins are making much of that possible.  As people see the benefits of holding crypto credit cards and as crypto atm machines pop up around the globe, even more people will join the party.  This is an exciting time we are in.  Hold on and hodl.  We are in for a ride and by the end of my lifetime, the whole world will have crypto in their wallets.

Thank you for joining me on my journey.

BAT wallet    0x97575cccf1fbe061293cba8077f9a5ef415f2e80

Bitcoin wallet    3LLzPJWeVXCLdz1brbVi7azxbyFomqo7HV

Doge Wallet    D63ZtPowrR69UBFEz5wKN6jjGGBKKsnhzu