Reflections About the Future of Fiat Money, Technology, and Cryptocurrency

You may have noticed that the new hasn’t been all that fun to watch lately. And yet, underpinning every unexpected hardship we’ve encountered this year, there’s a lingering feeling that something is fundamentally wrong with our system. The cracks began to show quite some time ago, but during the pandemic, the inherent flaws and decrepitness of this system revealed themselves to the full extent. The truth is, our economic systems were not designed for the world driven by technology where prices keep falling. They were created for the era where labor and capital were inextricably intertwined, the era where money was made from scarcity and inefficiency. But, it’s hard to deny the fact that that era is coming to a close. Now that you can change Bitcoin to PayPal, pay your pizza with satoshi, and mine Monero with your GUP, you can shake off, at least partly, the fetters of the old economic system and find other sources of income. Let’s us tell you how you can do it today. 

What’s Wrong with Traditional Economies?

In the face of the imminent changes, lots of people keep pretending that those economic and financial systems built for the previous era will still work and serve the common good. And rather than let the new system driven by technology take its course, institutions like the Fed and the World Bank, have stepped in. And because of their race-to-the-bottom monetary policy, the only thing driving growth in today’s world is access to the money that actually doesn’t belong to us. In other words, anyone can get credit when unable to sustain themselves. The rise of credit and the corresponding debt that keeps s locked, frozen into the system where we strive to artificially sustain economics built from the past. The global economies cost structure has been fundamentally and fatally distorted by central bank policies of inflated asset bubbles and reducing interest rates to near zero or negative. So, additional stimulus matters more to Wall Street now than news of the vaccine.

Furthermore, people’s earnings from labor have stagnated or eroded since the advent of globalization. The wages have plateaued, whereas prices have gone up. As a result, more and more people find t impossible to live a habitual middle-class lifestyle from earnings alone. The only way to fix the situation, aе least temporarily, is to borrow money. But the wealth effect is fleeting, while debt repayments are forever.    

The Role of Technology in Restoring the Order

Technology is what can help us embrace deflation, not prevent it from happening. As tech spreads, deflation happens at the rate that it should. What was once dreaded may become celebrated, because it means we’re getting more for the less. As technology removes some jobs in a deflation price system, prices will drop instead of rising. That makes it possible for those who have lost their jobs to share in the benefit of technology abundance.

Cryptocurrency as Remedy

As fewer and fewer people are willing to support the bloated and corrupted fist system that has no good solution in sight, the alternative currencies continue making massive inroads into our lives. That alternative, whether it’s Bitcoin, Ripple, or Monero, will emerge even quicker as institutions like the Fed that try to double down on this fiat system, which is close to breaking. Meanwhile, the digital and distributed nature of digital currencies allows them to benefit from the network effect where each participant enhances its overall value. And as more participants trust the system, the more that trust becomes inherent to the overall structure.

Why Invest In Crypto?

As you have already understood, the future belongs to technology. So, cryptocurrencies will continue gaining momentum, as more and more people start trust them as much as they used to trust fiat money. Due to its high liquidity, crypto is very easy to buy and sell with the help of dedicated crypto exchanges and crypto platforms. There is no need to hire brokers or pay middlemen to get what you what. With crypto, you can get into any kind of investment. What’s more, there’s no high entry threshold, which gives you much more flexibility and reduces possible risks. There are various tactics and tools at your disposal, wherewith you can trade crypto on platforms or exchange currencies at your convenience. Among the most popular are algorithm-based trading and limit-orders. No need to provide consent to the handling of your personal information, no need to visit a bank and sigh tons of papers, no need to deal with any institution imposing its currency. You get more freedom, more choice, and more income with cryptocurrency. So, why not start today?