It was my senior year of high school we were called by and among our teachers in a room filled with computers that were new. We were instructed to sit down and surf the internet. Surf the internet? What did that even mean? At the time I could not really understand this idea of web surfing and did not live anywhere near the shore. It was clunky and pages were slow to load. There was. I moved back to the library that day and read the newspaper. You know, outside of restaurants and sometimes the ones that you see in hotel lobbies. All kidding aside, when people are to doing something a certain way used it becomes part of which they are. I’ve every time I tried to change the procedure or manner of doing something to make it more efficient I was met with resistance and operations management experience.
Should it be different For Bitcoin or some other cryptocurrency? I talk to people every day that are effective and educated and still cannot wrap their heads. To me it is like describing how to surf the net. For centuries people have experienced it Ingrained in their brains that cash meant it had worth. Fiat money (cash issued by Authorities – USD, Euro, Ruble, etc) has this connotation behind it because the government published this it has to be of value. Most individuals think it is because it is backed by something although it is true that our dollars have value. As a society we’ve determined that shiny minerals we dig up from the earth are valuable and therefore so is our money.
When savings are currently humming along and Governments are not overbearing and individuals have a comparative trust in them then yes, fiat money works quite well. When we tip that scale and things do not go 14, what happens? Most of the time will get involved and attempt to stimulate the economy, although economists have opinions on this. This btc price is achieved by manipulating the market like lowering rates of interest or easing via tactics. When things go bad governments like to turn on the printing press. Recessions can turn into problems like food shortages or cost controls. Ask the people of Venezuela that are currently protesting in the streets on a daily basis. This is because their government endorsed Bolivar has seen triple digit inflation and it is not worth the paper it is printed on. Let that sink . The distrust of banks that are centralized, Corporations and governments has resulted in people looking for refuge elsewhere. It can be expensive and difficult to move money around the world. The process was tedious and I used to handle banks and required eyeballs for verification purposes on it.