The financial crises of 2008 caused the development of cryptocurrencies, such as Bitcoin, LiteCoin, Ripple etc. The crises proved that even banks are not trustworthy and can go to every extent to exploit public’s money. Moving on, the cryptocurrencies are based on Blockchain which mainly works as a ledger. Each transaction is called a block which is saved with other transactions using cryptography and encoding. The transactions are secure and valid; plus, there is no threat of any sort of fraud. The crypto token holder is provided with a virtual wallet which links to another wallet while doing a transaction.
The cryptocurrencies have been disrupting most of the markets - Mainly, financial markets. They were once perceived as the players of dark web. However, with the passage of time, people recognized their significance and began praising them. Basically, the cryptocurrency took off when last year Bitcoin’s prices rose up dramatically. Today, everyone in SMEs and MNCs are gossiping about the cryptocurrencies, while acknowledging the fact that they are going to be the future of financial transactions.
Primarily, the cryptocurrencies aim to eliminate the third party from each transaction, and that is what scares the traditional banks. If the decentralization were to occur, the banking sector would be in trouble, and for that it has been trying its best to eliminate the presence of virtual currencies. So far, they have been quite successful in most of the countries. However, since the awareness programs about the Blockchain technology have been launched, people have come to know how beneficial it is. As a result, people have started to trust the technology and have been investing their money in crypto tokens.
The use of cryptocurrencies has also been prevalent in the conventional market. The businesses rooting from the technology have been using crypto currencies as a primary means of transaction. Still, the financial markets look more stable to profit from the cryptocurrencies. What is more, if we study the capital market consumption, it is likely to be around $400 M by 2020. With that being said, there have also been a dramatic increase of subscribers in Crypto related YouTube channels. Most of the educational programs have been launched to teach people about cryptocurrencies, and surprisingly the sessions have been going house-full, while the experts making money off their crypto knowledge.
Ultimately, the investors have been putting their virtual assets in companies that open ICOs globally. It is expected that most of the MNCs will soon prefer ICOs over IPOs because the latter offers the painless investment procedure. Subsequently, there is a company called ICObench which records all the companies that internationally open ICOs. ICObench verifies the matter and reveals that crypto tokens have disrupted the financial markets.
Therefore, the investors believe that if the Bitcoin’s price can skyrocket in several weeks to thousands of dollars then why not the same could happen with the other crypto tokens. This shows that the optimism is still prevalent among the crypto investors. They believe the time is near when crypto tokens will take off again and crypto investments will be considered as primary investments over traditional investments.
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It's still far away from using crypto I think
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Dear @flash07, This was the best crypto theme post I've read in a long time. Very detailed and well written.
My thoughts, as I'm still trying to grasp the cryptocurrency world:
Yes, I do believe the cryptocurrencies should be the primary transactional mean. But it puzzles me how to make it possible, since every cryptocurrency as far as I know - I may be wrong - has the bitcoin, and, in consequence, the dollar as base value.
My opinion is that the cryptocurrencies are indeed the future. Being on Steemit I began to realize how equanimous this system seems - I mean, the Steem platform - generating currency value for your actions and choices. It takes the idea of market to a whole new ground. Of course, it needs development and despite its great promise, no one knows where to human needs and instincts will take these ideais.
I do believe we are on the verge of witnessing a new rise in cryptocurrency, and for what I have read about and listened, the flourishing token may well be the Steemit.
Thanks for sharing such informative post. Cheers
@marzullo Thank you very much for your kind words and also for sharing your views on the article. Also the steemit example you mentioned is great. Cryptocurrency is based on Blockchain Technology & I think Blockchain is like the Internet. No one supported the Internet earlier but nowadays Internet is like Oxygen. This technology and Cryptocurrency is future for sure. I will write many more articles on Blockchain & Cryptocurrency. That would be great if you will give your kind opinion on upcoming articles too.
Once again thank you for your amazing comment..
Cheers
very well explained @banjo @cleverbot
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Nice post Buddy @flash07.. keep it up...
@sam0014 Thank You my friend
Love the way you have explained thanks a lot.
@shamim1992 Thank you for your kind support & comment my friend.
You explain so nicely.
@pankuvirat Thank You my friend.
yeah sir you are absolutely right crypto effect the market very deeply and i feel it is a good sign for crypto currency as people are supporting it strongly so thank you for sharing this important article sir :)
@sanju007 Thank you for your kind comment.
@flash07 i am completely agree with you and Cryptocurrencies should be made as a primary payment because we all know for what cryptocurrency is here.
@kmayegaindia Thank you my friend
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@boomerang Thank you for your kind support my friend.
Thats true but the market authority should take steps to cope with any situation.
@mike949 Hope for the best my friend.
Well explain brother good work
@saubhikbiswas338 Thank you my friend.
You're totally right mate. Crypto currency is disrupting the whole world. Keep it up the great post
@dhanjkalita Thank you for your kind support my friend.
explained efficiently
@ajsharma333 Thank you my friend
future is decentralization of data and market,up voted to you.
@mihirbarot blockchain is future for sure my friend.
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@flash07 great information about crypto dear. what is your expectaion for bitcoin price?
@bhavikpatel74055 Thank you for your kind comment my friend. I am not an expert but it will cross $12k this year for sure.
@flash07 that's a great article. Blockchain is the future. This is just the beginning. Many more to come.
@insaallah99 For sure my friend
Hello @flash07,
We believe in the crypto world but do you think primary transaction is possible in India were most of them are unaware and afraid of Crypto.?
@karan.work77 This is a similar situation like the Internet or any new technology. In starting people don't understand the concept or afraid of it. But later once they get the concept properly they start to accept it.
@flash07 brother you are sharing very useful information. Bitcoin and other crypto currencies are the future and they will rise as usual and give profit to those who believes in it and hold it with patience. Are you holding any crypto currency?
@akkirocks Thank you for your kind words and support my friend. Yes I am holding few, I have invested very small amount in each as I am very small investor in this huge market. I invested in ADA, XLM, TRX, KCS, TRAC, ZRX.
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Well, the cryptocurrency market has indeed made a turn around of a lot of things in the world and the amazing fact is that it still continues to do more
@kwabeedat Thank you for your nice comments and sharing your views.
Just read your post , its really a post that deserves lots of upvotes and positive comments , its time for the Banking systems to be aware that their monopoly became exposed by the big concept of Cryptocurrencies , basically Bitcoin started this step and other few top currencies will come along, this is just beginning.
Someday soon or later Cryptocurrencies will definitely be the primary transactional means.
Cryptocurrencies are going to be ultimate financial means for most part of the world human civilization
Bitcoin as mother will go forward along with other Top 10 to 15 , to make crypto a must use medium to experience the real financial freedom , as the main concept will remain on Decentralized nature.
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Your post is always informative.... whenever I see your post I am amused by your work...you are a true hero of mgsc community....all the best brother...keep earning...and keep sharing knowledgeable stuff👍👍
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