Why cryptocurrency is here to stay.
For those entrepreneurs who are not asleep. 
. Yes, you are seeing the transformation of the monetary system before your very eyes. I am NOT an expert. Nothing here is financial advice.
. Yes, you are seeing the transformation of the monetary system before your very eyes. I am NOT an expert. Nothing here is financial advice.Let’s start with something simple:
IF YOU PUT $10 INTO A SAVINGS ACCOUNT IN 2010, TODAY YOU WOULD HAVE $57. PUT $10 INTO BITCOIN IN 2010, YOU WOULD HAVE $400,000.
When microwaves first came out, people called them glorified toasters. They were just a fad. When rap music first came out, people called it vulgar ghetto street music, just a fad. When virtual reality (VR) first came out, people called it psychological escape for the emotionally troubled/unstable younger generation. It was just a fad.
These are now trillion-dollar industries. Since crypto is a trillion-dollar industry, plus, the sheer number of dollars (capitalization) no longer allow people to call it a fad. The harsh reality of rapid adoption and huge amounts of money pouring into the industry make it less a fad, and more a THREAT to the financial powers that be. The fierce fight behind the scenes by politically-controlled government regulators, Wall Street old money fat cats, and traditional banking institutions to keep crypto out of the United States is similar to the fight between taxicab companies and UBER a few years back.
The taxicab companies tried to use their political muscle with City Councils in major cities to block UBER and LYFT, tech-driven new business models against which they could not compete. Obviously, and inevitably, they failed. The banking institutions and fat cats will fail too.
The taxicab companies tried to use their political muscle with City Councils in major cities to block UBER and LYFT, tech-driven new business models against which they could not compete. Obviously, and inevitably, they failed. The banking institutions and fat cats will fail too.The problem was UBER offered a better system than the taxicabs. Crypto and the blockchain system, even in its early stages, offers a better system than the current “fee infested, 3 days to clear” banking system. Many old revenue streams are going to be destroyed.
Internationally, citizens in unstable, war-torn countries are moving away from their home currencies. This example of the Lebanon crisis in which banks just shut down and froze (stole) everyone’s money is a prime example of things to come. Ask yourself this question. Will these Lebanese people ever put their money in the bank again? No! Hell no! They will adopt Bitcoin and other cryptocurrencies that are far more reliable and not controlled by their government. Don’t stick out your chest and look down on these people. This ALMOST happened to the US banking system with the collapse of toxic derivatives in 2008. [Thank you, Obama, for resisting the FOMO, drinking the nasty medicine, and doing what needed to be done.]
Don’t be consumed by fear and speculation. Look for the opportunities. This is just another transformation in our lifetime. Crypto is here to stay.
Leander Jackie Grogan
Author of: