Some people worry that cryptocurrencies are a phase that the world is going through. Other people want that to be the case and hope cryptocurrencies are just a phase that will pass.
Those people are wrong. Unless you want to call the Industrial Revolution a phase. Unless you want to call the Information Age a phase. Unless you want to call the internet a phase…
The American press, long under the thumb of the government, has decided to deal with it by telling lies. They are listed, most of them, on the stock exchanges. Money moves out of stock, as money moves into cryptocurrency. But also I believe that the US government has decided to treat crypto as though it were a threat to national security. Thus, they control the news.
Is it a threat though? Well, it is a threat to the establishment, and the establishment have only two choices, they can either embrace it, or they can oppose it. If they oppose it, they will inevitably lose. Some governments have seen the sense of this and are themselves enabling the technology, reasoning that the wealth pouring into their country through cryptocurrencies will in the long-term be for the benefit of all.
Try to impose your New World Order on a country that is powerful in blockchain technology, and you will inevitably fail. Governments are going to start accepting Bitcoin for tanks and warplanes. They will be able to use Bitcoin to influence decision makers, anonymously, wherever they are. It’s a great leveller, Bitcoin.
But back to the ‘man in the street’. The rise of cryptocurrencies and blockchain technology is actually a new revolution, and a powerful one, allowing people to get away from the control of central banks. And it is a disruptive force in the world. Imagine being able to buy or sell a house or car without any middle-man. Imagine making a crypto transfer for business goods to India or China or Russia, and the transfer of funds is free, or close to free; you can mutually agree what cryptocurrency to deal in, and almost as soon as you press the button, you’ve done the deal. Imagine getting paid instantly instead of waiting for days for your funds to clear. Or your funds being blocked while investigations are made by the government.
Imagine buying your shopping using a cryptocurrency that you know is going up in value as you shop, and that your shopping is actually helping it to gain value, and when you get back home and check your cryptowallet you find that your cryptocurrency value is worth more than it was before you spent some of it on your shopping, so you’ll be eating for free that week!
All of this, and far more is happening right now. It is mainly happening to clever people. Early adopters. To people willing to risk a little for the possibility of gaining a lot. To people with a level of focus that allows them to learn some new things that are not really that difficult to learn. It is happening to those who would rather do something than watch reality TV.
}It is happening, currently, to just a fraction of one percent of people, but word is spreading, and the revolution is gaining force. Even the couch potatoes are beginning to notice. Because they see their neighbour in the same job as them buying a new car, or taking a cruise, and they ask the question, “How did you manage to afford that?”
I’m not saying that there are not people resisting this revolution, but the movement is unstoppable. It’s as unstoppable as an earthquake or a tsunami. The floodgates have opened, and cryptocurrency is an unstoppable force because of many factors.
Just to take a brief sampling of those factors in a very non-comprehensive list, there are a given a number of facts:
a) There are already hundreds of millions of people stocking and using cryptocurrencies;
b) The distributed nature of blockchain technology makes government control next to impossible – you can shut down one exchange or platform in your jurisdiction, and another two will spring up in its place in areas where you have no jurisdiction, and those holding or wanting to buy or exchange cryptocurrency will just go elsewhere, even if they have to do it through proxy servers to remain anonymous. Even if they have to emigrate to do it.
c) The anonymity of blockchain transactions means that your private keys are yours alone, and unless you give them up, nobody, from a central bank to a government agency can touch your coins.
d) People like having and using cryptocurrencies! They like looking in their wallets and seeing the value of their investments rising. They like that their profits cannot be monitored. I mean, when you buy coins from all over the world, certified by anonymous blockchain miners who could be anywhere, nobody – not even the NSA, who probably know when you last had sex and with whom, can track your transactions.
This is the big chance for ordinary people to get away from the system of never-ending debt. And whilst it is true that the most popular new coins or ‘tokens’ have been designed with a purpose in mind, whether that purpose is to enable companies to make instant anonymous transactions without a middleman, or whether that purpose is to replace ‘fiat currency’, with its systemic flaws, unpayable debt, and government-controlled interest rates, the fact is that whilst two or three out of every ten new cryptocoins coins will stagnate or fail over the next five years, the majority will succeed, making those who bought them early very wealthy, as their prices and values rise.
So to answer the question, ‘How Long will the Cryptocurrency Revolution Last?’, my answer is that cryptocurrency is the future. It will outlast every fiat currency. It will become an everyday thing for everyone. It is the new international currency, and it breaks all the rules, whilst writing its own new ones. It will last as long as our civilisation lasts.
As always, don’t do anything without due diligence!