Cryptocurrency is Changing

Now, the bitcoin economy is changing. People are starting to see the value of holding their coins which leads to greater market confidence. In my opinion, bitcoin and other cryptocurrencies are not some type of fad or a meme to represent a type of “YOLO” approach to making money. They are not competition to the existing monetary system like a lot of people claim. They are an add-on. Any wealthy society that is free and heading towards the future knows the real intrinsic value of currency is a credible ledger. One that can not be modified, cheated, tricked, or erased. This is backed up by encryption. When this type of technology is established and implemented properly, a society can gain accurate insight into their past, present, and as a result their future.

The Technology has Become Established

The technology is finally here. People who have thrown money at it come and go. The real money realizes the value of this technology and has made their position known. Bitcoin was tested and it has not gone anywhere. It is worth a lot of money, can be traded and sent freely, and has become established. It isn’t going anywhere. Those who were once scared of the dreaded bitcoin have now accepted it as a simple commodity to be traded. It enhances your portfolio it does not replace anything.

The Current System Does Not Work for Everyone

Some of us want to do financial transactions that are irreversible and we are willing to pay a fee for that to happen almost instantly instead of days at a time. This is backed by a public ledger that anyone can view and verify. It is also anonymous to some extent and that is a major selling point when you are planning to do straight up business. Banks are controlled by local communities and they are subject to all sorts of fallacies. This type of system provides an alternative, especially when you need to get things done without involving all sorts of people and their very intrusive opinions. What may seem normal to someone could arise suspicion with bank managers who feel the need to intrude upon people’s privacy. With bitcoin you can override any prying and interference from third parties. All the ledgers see are the amounts being transferred. Bitcoin is guaranteed to transfer.

I am All In with Litecoin

I enjoy investing in Litecoin. Why Litecoin instead of Bitcoin? It’s a superior protocol. The transactions take less time with Litecoin versus Bitcoin, there are less Bitcoins available then there are Litecoins. One day, Litecoin will be realized as a superior protocol and the value will trade places with Bitcoin. This is called the flippining. It’s already being accepted by professionals as a standard and is being used a lot more places than one might realize. This is why I am all in on Litecoin. Litecoin and Bitcoin are both a generation one crypto.

Web2 vs. Web3 Payment Processors

Other coins such as Ripple (XRP) are whats known as a generation 3 crypto. These are great for currency transactions such as payment processing. For instance, Solana (SOL) can process thousands transactions per second. Your traditional card companies such as Visa/Mastercard process an average of 1,700 transactions per second. Solana has lower transaction costs then traditional payment processors. Solana also enables global access to financial services without intermediaries unlike Visa/Mastercard which require bank accounts for transactions. This is great for stuff like concerts or sports events where users can vote with their wallet to see the next segment in their entertainment. For instance, users can all vote at once to see the next half time event or at a concert, they can vote for the next song to be played. The more users that vote, the more money the concert players can make. That should get them amped up and the performance can be charged up by ways of monetary value. It doesn’t just end there. Users can pay for priority emails to contact important people. Let’s say an important world event is underway and users want to contact important people or their favorite celebrities to see their opinions or have a discussion on what is going on. Well, they can pay for this privilege and the celebrities can profit off of this type of scenario. There are many ways and methods where this kind of technology can be used to evolve the current ecosystem.

Various Use Cases in Advertising

Everyone HATES spam. Those unwanted messages are bogus and annoying. A general waste of time. What if… you could be paid for each spam message you receive? Advertisers could have the ability to pay for priority advertising. Imagine getting your message out to a billion people at once, each one getting paid a small amount to view the ad? That would lighten the mood considerably and people would actually pay attention if they are getting paid crypto to listen to what you are saying. Not only that, they could then reinvest their earnings to get their own messages out there. Activists could reach a whole new level of exposure. All this is not possible with legacy systems, they simply cannot handle this. Crypto can. It brings a whole new dimension into play.

Nothing is Being Replaced

This is all coming into play soon. The technology is just being worked out. Generation one coins are not going anywhere. Generation 3 coins are not going to replace anything. Crypto is an add-on. All this relies on cash. It is an add-on, not a replacement. This is why I am invested. Even if you do not have the money to invest in the currency, you can still invest your time to understanding how it works, informing people, and promoting the furthering of technology. This will create opportunity for your own future. That is also a reason why I am writing this article right now. Not to pump up the value, but to invest in the technology’s future.

x402

Instead of having to pay for subscription costs for sites you may only use once, games you may not play, loot boxes you might only want once, you could load up your wallet and have a paid version of the internet where you can pay on demand without having to sign up for tedious accounts. You simply pay and view. This is what the x402 protocol has to offer. That’s just one use case that’s currently being implemented. Crypto is not going anywhere no matter what the markets have to say. There are people who have massive amounts of hardware and are heavily invested in the technology.

My Thoughts on Ethereum (ETH)

Why not ether (ETH)? Ether coin is a great technology. It is robust and has many options. However, it’s high transaction fees are something to take note of. It is extremely expensive to simply send or transfer ether. Not only that, there are so many people involved and it has become almost political to a point. Ether is a great test bed but I don’t see it surviving in it’s current form. It’s extremely vulnerable to mood swings, politics, and general disarray within the ether community. There are already co-founders who have left the organization. It’s founder has been scrutinized for simply living his life like a normal person. While it’s a good technology on paper, the real world adaptation of ether has become something of a side-show. The dApps that run on the ether network are slow and mundane. They are something of a joke. While it has style and luster it lacks substance. It’s simply an immature system. Now, that’s just my opinion. Others may vehemently disagree with me on this and that’s their God given right to do so. However, I don’t see it becoming any more than what it currently is. I am not alone in my assessment. Recently, the Bank of Italy, and economist, Claudia Biancotti, both agree that a sudden drop in ETH value could lead validators to shut down thus weakening Ethereum’s security and reliability. Litecoin has already suffered a major drop in value and it continues on as if nothing has happened, shrugging it off. If this were to happen to the Ethereum network, validators would simply shut down reducing the amount of stake that is securing the system, slow block production, and weaken Ethereum’s resistance to certain attacks. Ethereum is a generation 2 cryptocurrency. It is very important to state that without the Ethereum crypto network that a lot of coins would not exist. Ethereum has evolved crypto into what is is today and it’s massive strides are very important. However, as with most steps in evolution, this does not guarantee itself a spot in the future. This is all subject to change. With software upgrades, soft forks, and various other methods of implementing changes, these cryptocurrencies can both adapt and evolve in ways traditional systems simply cannot.

Nothing is Written in Stone

Who knows what the future holds. While most of what I’ve discussed here today is speculation, the future can hold immense possibilities beyond what we could ever imagine. That is the brilliance of the cryptocurrency system, it’s ability to adapt and evolve. The technology hasn’t even begun to fully realize itself yet. What you see now is only the very beginning. Once it does fully implement, it’s value should skyrocket.

DISCLAIMER

CAUTION

None of this information is guaranteed. These are my personal opinions. I provide no financial advice whatsoever. Please use caution when investing and only invest money you can afford to lose.