Currently Bitcoin is the most serious cryptocurrency project. It is a way for people to transfer value between themselves without a bank or the middlemen involved. Bitcoin was designed to be an alternative financial system. It’s not just a form of digital cash. It is a network complete with security, custody, transaction settlement etc. The number of Bitcoins is limited to 21 million while government/fiat money as we know it today, can be printed endless. A Bitcoin can be broken up into 100 million units. You are able to send USD 0.10 worth of a Bitcoin or USD 10 mln to someone just as easily. Bitcoins can be exchanged on a decentralized network all over the world, 24/7 and is secure.
A lot of people believe we need new ways to buy stuff, store value and transfer money in the future. We need an alternative to fiat money because fiat is directly tied to all the debt that’s piling up around the globe. When debt becomes a problem, the currency eventually becomes a problem.
Bitcoins offer a different path. Instead of spending too much, increasing our debt and just creating money out of thin air, we could start to live within our means by using real value to do our business.
There is appetite for an alternative to government-controlled fiat money. In 9 years since inception, Bitcoin has appreciated 700,000,000 % against the USD, despite all the doubts and warnings of its impending collapse.
Bitcoin operates within an apolitical and predictable monetary policy. Bitcoin cannot be used for quantitative easing or you cannot just print more of it, as you feel like. Bitcoins could prevent central banks to finance catastrophic wars, reckless government spending or hyperinflation.
Cryptocurrency overtaking fiat money seems to be very ambitious but something has got to change sooner rather than later. A lot of people believe decentralized, sound money is the best way to start this process. We know something is wrong with our financial system. We do not know what will happen with our exploding debts, but we all know that there won’t be a great outcome.
Many smart teams are working on new and different crypto networks. A lot of funding goes into the crypto currency development. Big Institutions are launching custody solutions. All these players are driven by one motive: They think the world needs an alternative money system because the old one is not sustainable!
Sven Franssen