06/12/2024
Today, let's reflect a little on #BTC☀ and the cryptocurrency market. An analysis from an economic perspective.
BTC is not simple. It was born to have an impact, or can be seen as a driving force for many industries. And it cannot be said that there isn't some influence from a larger hand.
- On the bright side, BTC drives the electronics industry, chip industry, energy industry, blockchain industry, and the internet.
- BTC has all the functions to replace traditional banking but with lower costs, faster speeds, higher security, and greater flexibility.
- On the dark side, BTC can facilitate sanctioned transactions, arms trading, and prohibited substances. Money laundering, bribery, and moving money across borders.
If we consider BTC as a major industry, then other coins are like startups in various fields. If a startup is promising, it can easily attract funding from influential investors. Conversely, there will be startups created just to scam people; once they get the money, they will create another startup and continue to deceive. Therefore, assessing projects and choosing wisely is a necessary skill in investment.
Like the stock market, as long as a company is in business, its machinery is operational and expanding, its value will increase. Especially when they have large investors ready to inject capital. As for shell companies, without any real operations, they are only used as tools for financial manipulation once or twice; one cannot expect them to last long.
#binance #Write2Learn Follow me to occasionally read some interesting things.