CRYPTOCURRENCY AGAINST WORLD CURRENCIES?
When you go far back into antiquities a form of exchange varies widely by location.
It is by all means why currency tend to be accepted in one part of the world, where
other places they will not accepted at all. If you hungry you may give away a piece of gold
for a potato. Dead, the gold has no value for you.
As we get more advance with technology, other form of currency pave the way to what we are all
craving for: crypto currency. We can be sure for a while fiat currency, metal currency and crypto currency will all live along side by side till one prevail to replace the other.
This is not something to dwell much on when you know how far deep a currency is in the mind of the holders.
Apart from #Gold, you can clear your mind about everything else that come after. Trust is the only thing that spare a catastrophe in the global sphere. Any insinuation in the economy #GOLD value rises to encounter that negativity as if #Gold can fix everything.
As of now the valuation of all #Gold is at around $8.7 T. This is huge knowing any serious country have gold to balance their portfolio
In second position we have the US dollar, sitting at around $1.7 T. We know all about the mighty dollar and how far this currecncy is running the world. Since I live in the US, I do not know how it is in other countries. I can be sure it is well received in many countries. For example in Venezuela USD is so valuable if they catch you with it, they may confiscate it or give you the equivalent in bolivar. You heard the issue with inflation over there.
This is to show what each country represents in the world balance. This could be the same as well for the third best fiat in the world. The Euro is commanding due to the block of countries that use it. The buying power they have is strong and well received throughout the world.
It is sitting at around $1.3.
You have silver with around $1.1T and China currency at around $1 T. In six position Japanese yen is right there with $900 B. These are all the currencies ahead of the crypto sphere.
- Gold $8.7 T
- US Dollar $1.7 T
- Euro $1.3 T
- Silver $1.1 T
- China Renminbi $1 T
- Japan $ 953 B
- Crypto Market $359 B
- India Rupee $291 B
As you can see crypto stands a big opportunity to scale greatly as more envision
its success as a global currency. If you are following the crypto market right now, September is throwing a wrench right in the middle. It is all red as the value erodes from all tokens since they rely on #btc to grow. The same way institutions rely on #gold as an edge, people like you and me is integrating crypto to be part of our portfolio. It is not news to see banks are slowly trying to understand crypto specially #btc since it holds 55% in the balance. Clearly you need to have some btc ( Not a financial advise just a fair idea if you value this space)
This is not for a simple reason a#Bitcoin success will empower the whole crypto sphere. Just like today a negative drop ripple through the market. This is what we call the human effect. So much are risking for the survival and this blockchain technology is growing so fast. I never phantom to see crypto is so high in the world affair of currency. No wonder why crypto business is eating the banks lunch. When you look at the numbers and the timeframe crypto came out, we have not seen anything yet. #DEFI crave is another factor.
Knowing what at stake #crypto is an emerging effort to curb and control how the world financial system is behaving. It is just obvious most transactions are digital. Hard to verify fiat transaction since there is no way to count and tabulate what is happening. This is where #crypto will grow and where fiat will seem to exist to balance this apparatus. I will not be surprised to see a shift in world currency where #crypto in general taking second place.
This is a plain field where anything is possible with the idea of stablecoins with state coins. For our benefit we need to see #bitcoin leading the way with all #Altcoins running close.
#Crypto does not only stand a chance but helping the whole financial system to survive. The new generation wants to take away the control of fiat and spread it to the world. Everything comes with a cost. #crypto comes with a cost and a discount to eliminate the third party the medium we use tend to be less expensive as more people understand it.
Best case scenario, hold your cryptos. That way you send a clear message you want change.
Posted Using LeoFinance
Good luck