Ok, so I have been playing on Coinbase with bitcoins, and I can now see after a few months why it is so fun and exciting. I put in $100 and now I got $150 almost over night, and it is constantly trading 24/7. I’m not sure what bitcoin is exactly (that’s for someone else to write), but I can see how it plays into the future with all our technological advancements, and the way our current society is moving with technology.
All our hard currency is slowly going away and technology is slowly taking over our world currencies. This is both exciting and scary for the world. If you watch Mr. Robot, this is scary as they portray hackers undoing the world’s economic systems through hacks that erase all the records and your electronic funds. Then the entire world has a clean economic slate and everyone is even again. But, this is exciting because most people hardly ever carry cash anymore, and if your wallet gets stolen, you just make a phone call and cancel the charges. Online currency is already being used to a certain extent with credit cards and now cell phone can purchase items. We are all moving online slowly but surely, cryptocurrency is just speeding it up.
People are relying more and more on technology for currency. I haven’t written a check in six years, and I haven’t received a paper pay check since I was in college. I pay all my bills online using auto pay, and I get paid online through auto pay. I rarely get to hold or use real money; unless I get a cash discount. Debit cards and credit cards have taken over, and even paypal is used more than cash for young people. Now with bitcoin you can use it in any country, anywhere with no worry of foreign exchange rates or fees. It’s ungoverned, which scares people, but the advantages are endless with a currency not controlled by a government, and can be used worldwide for anything. Again, this can be used for good or evil, but a universal currency that is self regulated by capitalist principles could be a little “wild west,” and we all know the “wild west” was a place for fortunes to be made or lost. Those early adopters are all millionaires, as the rest of us are just figuring out that cryptocurrency is out there.
We are already trading stocks, bonds, running bank accounts, and all sorts on our smart phones. We are already training for jobs and going to school on our smart phones, so why not embrace the new technological world. I have stock in Twitter and they haven’t even made a profit yet, and they are valued at billions. If bitcoins aren’t real or over valued, is the same true for Twitter? What creates the value? How is cryptocurrency any different then overvalued tech start ups? I don’t have theses answers, but I know the world’s economic structures are changing very rapidly before our eyes.
The world is changing so rapidly that current high school 9th graders are training for jobs not yet invented. They don’t even know what the job is they are going to school for, imagine being in their shoes! Technology is changing every aspect of life. My kids may not have to learn to drive with autonomous vehicles popping up, and AI technology being developed across the planet. My kids may not have bank accounts in the future, just crypto wallets or paypal like accounts. Who knows what the world has in store for us as far as money goes. The guys with the most shells in ancient days where probably pissed with silver and gold taking over the market, and rendering them poor saps for not adapting to the changing markets. All I know is keep an eye out, and read everything you can, because the world is changing rapidly. You don’t want to be the guy with the shells. Good Luck too you all!!
Pro Tip: Set up on your account on the computer, then get the app on your phone for easy use and crypto trading.
Update: I’m looking into Ethereum now since their price is lower and they seem very motivated to change the future for good. Do your research before buying and reading a points of view on everything to see the product from all angle.