Cryptocurrency has been around for more than a decade since Satoshi, a Japanese built the first cryptocurrency, Bitcoin. Since the launch of Bitcoin, cryptocurrency has slowly infiltrated the market by having enormous values today. One of the positives of Cryptocurrency (Bitcoin) is its decentralised nature as no one controls the tide of the market, unlike conventional market where the forces of demand and supply control the market and people are in the background of those forces, but with Bitcoin, nobody possesses such autonomy in driving the market to their favour.
Cryptocurrency is one of the finance options available in today’s online marketplace. With a lot of people having a heavy distrust for cryptocurrency and what it embodies, what people are particularly afraid of is the fact that it is like a rogue without control since it has no centralised control government wouldn’t be able to manipulate the forces of the market to their favour. Whether cryptocurrency is on an impending downturn or it would shape the future is in nobody’s hands.
There has also been a surge of other cryptocurrencies which are often called Altcoins which rightly implies alternative coins, With Bitcoin being the novel coin, there has also been an uprising of other coins such as Ethereum and more. Fellow Finance Services include traditional peer-to-peer platforms where borrowers can get loans from lenders. This is another finance option.
The fact that no one has supreme control over cryptocurrency is the reason it is difficult to decide if it would die. From popular opinions, what nobody controls would be hard to dictate the pace, progress and stability of the system, of course, there are legitimate concerns about cryptocurrency and this is particularly because the volume of the market capitalization is still maturing. With the current wave of cryptocurrency and when the coin archives stability, it would be almost implausible for someone to control the trajectory of the coin.
The only alternative to cryptocurrency is the current system which is largely ineffective as we’re seeing today, because people in power, the government and a selected few controls how the monies are disbursed and where they go, and this system is believed to allow a monopoly in the market but with cryptocurrency, controlling the forces of the market is a daunting adventure as nobody controls where the currency moves, even the ledger for a transaction are encrypted as one can’t track down any transaction. This itself has it’s positive but one of the negative aspects of such systems is in the fact that criminal transactions can be carried out without anyone tracing or knowing how to track the culprits down.
It would take the inevitable to thrust cryptocurrency out as blockchain development has actually commenced and people are already building their business on the blockchain. Those inside the cryptocurrency circles are already insinuating that blockchain is the next internet as every business that is not on the blockchain ceases to exist. Whether this is true or not let’s see what posterity holds.