Yesterday, a lively debate erupted under a cool archival video from the early years of the internet. The summary is that one side claims crypto has no real application other than speculation, while the other side defends crypto.

I thought it would be useful to summarize the conclusions in a separate post and back them up with links to support the facts.

The First Application of Blockchain/Crypto: Money!

Even the title page of the main document of the first cryptocurrency, Bitcoin, clearly states the project's purpose - a system of international peer-to-peer payments (essentially, if simplified - a sort of Western Union).

If it's about money, then let's ask the question: How do we use money on a daily basis? Most often, we:

  • Store it

  • Pay with it

  • Try to multiply it

Crypto addresses all three of these tasks on a new level.

1) 🏦Storing Money

You can now store money not in banks, where there are blockages, sanctions, and restrictions on withdrawals and conversions, but in your own wallets! This alone is enough to see how cool, innovative, and much safer this is!

To clarify, according to various estimates, the total number of crypto asset users as of December 2023 is already 575 million people! By 2024, it will reach 850-950 million users!

In other words, if more than half a billion crypto users worldwide isn't enough, then other arguments fall away!

2) 💸Paying/Transferring Money

Try making an international transfer or withdrawing more than $10-$20k USD. Or try not sending another document to the bank proving you are not a terrorist. It will immediately become clear who really owns your money.

Over 90% of daily crypto turnover is NOT BTC, ETH, and various altcoins! These are stablecoins! Currently, $46 billion USD out of $49 billion USD of total daily crypto turnover worldwide is people paying each other with stable tokens! NOW! ☝️

The fact that housewives aren't yet using this is not an indicator. They don't use many things now either, like insurance products. They will start when platforms like Stripe, Robinhood, PayPal, and Telegram begin integrating, which is already happening. And, as before, it will all go unnoticed.

3) 📈Multiplying Money

No comment needed. Housewives are barely making ends meet. What kind of investments!? Those who do invest have long seen higher returns on crypto products than on traditional financial instruments and quietly earn at their leisure.

Examples from different historical cycles, on various products - in rising, falling, or sideways markets - have been constantly posted on this channel for many years. With a genuine desire to understand, you can always scroll back, find everything, and compare!

Conclusion

With arguments and counterarguments, I suggest moving to the comments below.

Have a great week everyone! 🤝

#CryptoAdoption #BlockchainTechnology #DigitalCurrency #Stablecoins #CryptoInvestment