A short essay came across me.
Obviously, cryptocurrency is better than regular money. It’s definitely not worse for a long time and will only become even more convenient.
Ordinary money can be exchanged for goods, given to others at the bank for use for some time at interest, or kept under the pillow “in a cold wallet.”
With cryptocurrency there are many more bank options, different conditions and interest rates, and you can do every action while lying on the couch.
Ordinary money can also burn out in a crisis and have different values in their countries. And also have your own purchasing power within the country.
Cryptocurrency used in its ecosystem can also provide a discount on goods and services. The different value of cryptocurrency also depends on capitalization and functionality, that is, a kind of real sector.
True, a crypt can also burn out, but due to constant contact with its exchange rate, you can switch to another, which cannot be done with ordinary money. And also in a couple of touches of the smartphone screen. But in the state you cannot start paying everyone with other money from other countries. Or it will be more problematic in any case.
In crypt, theoretically and practically, everything can be done, much more and easier than with ordinary money.
Yes, crypto can also be stolen. It’s true that stealing money on the Internet is much safer for health when it comes to robbery. Usually he moved to the wrong place and poked the wrong thing. But there are many more schemes for luring out ordinary money, I will specifically count from the moment they appear among people🤡
And theoretically, transactions can be canceled much easier when reporting to the police than to find criminals with money.
The most pressing thing is that crypto is not backed by anything, it’s a bubble! No, crypto is backed even more than regular money. Ordinary money has long been no longer backed by gold reserves, especially not completely. Rather, now it is a combination of the strength of the economy (supply of goods, services and innovations) and power (army, diplomatic relations) and, of course, ordinary faith.
But if you think about it...
What is faith, what is there. 🤡 People believe in cryptocurrency even more, because there is faith in quick earnings and it’s quite possible to get it if you put your mind to it. And again from home.
And money is also quite real loaded into cryptocurrency, so the crypt is essentially backed by loaded currencies. But the devil is in the nuances - the price of cryptocurrency also has a different share of hype, which is not the case with ordinary money.
But the modern world no longer exists without hype. Cryptocurrency hype can be considered a certain power, but only over the minds of people😉
And the volatility of cryptocurrency is, to some extent, its main advantage. More precisely, the possibility of a rollback to the liquidity point or, conversely, an increase in the price of the currency, in general, much faster processes that occur with ordinary money. That the same Venezuelan bolivar or Cuban peso is not expected for the next 5-10 years. That's why they use dollars and euros in everyday life. ☺️
And there is an example from the country of El Salvador, look for it yourself 😉
And it’s also funny, of course, to watch how they are trying to extend the life of ordinary money by protecting or improving it, introducing some partial cryptocurrency bonuses, digitizing and hanging cryptographic keys. So I think regular money is boring. It’s only a matter of time before either regular money merges with cryptocurrency in symbiosis, or the cryptocurrency(s) displaces regular money.
I expressed my opinion, and you can express yours in the comments 😉
