This is a bit of a deviation from our usual content. We do a lot of briefs on how to purchase cryptocurrency, how to use it, and the latest advances in the field. It‘s pretty much preaching to the choir as that is our audience. Just throw in click-baity titles and an emoji or two to keep your interest (😘 our secret formula). This one is for the skeptics.
What’s The Big Deal of Bitcoin and Cryptocurrency
There have been attempts at virtual currencies before, but those failed until Bitcoin and the invention of the Blockchain. It solved an important question of how you can securely transfer value to someone you don’t trust. It‘s worked well enough in finance (in the case of bitcoin). Turns out, that’s useful in other applications as well.
A big part of the cryptocurrency movement is taking a bunch of things that used to rely on centralized trust and throwing a blockchain at it to decentralize it. It can be kinda annoying since it’s mostly throwing spagetti at the wall at the moment, but some of the cool stuff sticks.
As it is right now, most things require you to trust a centralized authority (usually the government). Everything from big banks, to insurance companies, to voting and betting. Do you trust the government and big banks? Do you think they are working with your best interest at heart? 100 percent? No?
Break up the government and decentralize that power. Make it transparent and easy to audit. Add incentives and penalties to ensure cooperation within the system. That‘s what we‘re working on. Admittedly it’s a bit cumbersome technology right now. A lot of stuff works but a lot needs to be fine tuned. It’s new and we’re working on making it better. Once it gets to be on-par or comparable with the status quo, decentralization will be the no-brainer.
You think Bitcoin mining is wasteful? How about the gas burned from every employee that touches the monetary system driving to work every day? Labor expenses are huge liabilities.
Even if the technology is expensive now, history tells us that investing in it will pay off. It quickly becomes cheaper, more efficient and greener.
Blockchain is Dangerous
I think we can all acknowlege there are negatives in the cryptocurrency ecosystem. It‘s overhyped, and in some sense, enables scammers and hackers.
The same thing can be said about a lot of technology and security especially. Encryption and VPNs are all tools used by good people and bad people alike. We shouldn‘t just set everything on fire trying to kill a few rats.
When technology is new, a lot of both great and terrible things will be made. With time, we’ll learn how to better prevent exploitation
Why Should I Listen to A Cryptocurrency Company About the Benefits of Cryptocurrency?
Believe me, we are definitely out to sell you some cryptocurrency. We aren’t just preaching to sell you some though, quite the opposite actually. We sell it because we love preaching about it.
If you can’t tell from this blog, we are pretty invested in the technology vs solely lambo chasing (we like lambo chasing too though!).