We trust the crypto world.
We trusted the fiat world for many years. Most of us still trust and depend on it. There are few options we can live without fiat currencies.
Cryptocurrencies have opened up a brand new way of conducting financial transactions.
Cryptocurrencies are decentralized, making it possible to transfer peer-to-peer funds. This is not a miracle but a trait of decentralization.
If a particular cryptocurrency vanishes?
Even after entering the seed phrase, suppose the assets are still not updated in the new wallet? You are entering the correct seed phrase. But the cryptocurrency recovery fails. That is also principally not impossible.
Because the cryptosystem we trust may do something else, i.e., break trust.
Many cryptos vanished after the ICO stage.
Can Bitcoin vanish into the blue?
I will not be surprised if, one fine morning, we see the headline "Bitcoin vanishes into the blue!"
To whom would the investors complain?
It is not the fiat currency of a national government.
There is no single point or multiple points to complain about!
That is the advantage/disadvantage of decentralized computational systems.
My apology for raising silly questions regarding Bitcoin!
Bitcoin may not vanish after successfully running for so many years.
I wish Bitcoin continued to rise in price.
There will also be a rise in transaction fees.
The time for settling a single transaction will also increase.
Electrical energy costs per single transaction will also increase.
Can Bitcoin price rise continually?
Check the price graph of Bitcoin.
It is rising and falling.
But there is a rising trend.
Can Bitcoin price rise continually?
Does it contradict the principle of conservation energy?
The price of Bitcoin increases at the cost of real-world resources, i.e., investment.
Investors' money goes from fiat to Bitcoin!
The price rises, and the cryptocurrency world cheers!
How long will fiat continue to pump cryptocurrencies?
<> Modified from published on ReadCash.
Cheers!
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cryptocurrency decentralization bitcoin fintech money technology
March 20, 2024
