Cryptocurency Transformation To The Mainstream

The world is becoming a much smaller place because of technology and it's advancements, 20 years ago to imagine a digital currency would be possible was unthinkable but today hundreds of types now exist. In order to understand our we entered this brave new world of phantom money we must go back to it's humble beginnings to comprehend it's value. 

Even though other currencies came onto the scene it seems Bitcoin (also known as satoshi) has become the king of digital currencies and the one all cryptos are traded into to obtain physical cash. Satoshi Nakamoto is the name given to the creator of the original blockchain database to interface on a peer to peer network and deployed the original reference implementation. It stands to reason that a unit of "money" would be affectionately called after it's creator, like Frankenstein's monster. It's unregulated beginnings allowed the currency to be traded freely as a method of moving illegal drugs of all kinds and other paraphernalia without risking loss by deception. 

The cryptocurrency metamorphosis occurred when blockchain transactions were found to be a seamless way to expedite international business. During the transfer of cryptocurrency the buyer identifies the amount for the purchase in his virtual wallet, this amount then transfers to the blockchain and placed on a ledger to show the new balance. The only drawback to a large cryptocurrency transaction is it is not instantaneous and the seller has to wait, maybe hours for the transfer to take place. 

Cryptocurrencies are here to stay, regulation of the transaction for policies protocols and procedures are on there way for mainstream commerce of everyday purchases like buying gas or groceries. For now, the cryptocurrency of choice is Bitcoin or Bitcoin cash which can be traded for Federal Reserve Notes at special ATMs (automated teller machines) located throughout the city.

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DELORES EDITH BUNCH-KEEMER (c) has also written: Cryptocurrency's Transformation, Becoming a Moorish Lady, A Woman of Stature, Enduring the Odds, Damselfly Dimensions, Moors in America, Moors in America, Discovering Yourself, When We Were Kings, Technology as Your Business Solution, and much more....

Technology as Your Business Solution

                        

Ever wonder what the next big thing will be? We have seen Cd's and MP3's, Facebook and Twitter, to the now so popular cryptocurrencies explode onto the scene but will this be the end of money as we know it? In order to understand what cryptocurrency is and why is it so important the the next generation to grasp and implement into their everyday lives we must first go back to the original plan.

In 1997 I became very interested in credit card processing and selling credit card machines. I remember seeing a segment on the news about how our society was eventually going to become cashless because this system of trade was becoming too costly and inefficient. Credit cards were supposed to take the place of cash by the year 2008 and there would be no use for money. Well, this prediction missed it's mark, those diehard liberals just won't conform to a cashless system where debits and credits are king.

Today, as with the passing of every generation, there has been a transformation to not only accepting a cashless society but a virtual platform where debits and credits float in cyber space. The birth of the "virtual cash" concept seemed to come from nowhere and was adopted into the mainstream like wildfire but how to you assess real value. Bitcoin skirted a value of close to a whopping $20,000.00 dollars per coin, seems unbelievable for a computer generated currency to outpace any currency but starting off as a tool for barter in the drug trade may have had some influence. The problem with any intangible investment is how safe is my digital money, can someone in cyberspace delete my account or debit all the digits from the account? Also will this cyber-cash eventually make it mandatory for a microchip to be implanted somewhere in your body?

Is there an alternative to living in a futuristic cashless world and not participating in a system of payment: the solution is to barter for goods and services. Bartering allows the buyer and seller to agree on the value of the item and method of payment. A transaction can be as simple as providing knowledge for dinner or providing a ride in exchange for gas to as complex as purchasing a car or a house for a bartered amount. The flexibility of barter permits the seller to accept payment in goods, services, cash or anything of value so settlement of the transaction can be very creative. For those of us who still believe in trading commodities for value this seems like our alternative to carrying cyber-cash registered to a chip implanted in my hand. The added plus of you barter in a trust it is a non-taxable event so you stay off the grid if you like to live privately.

Written By,

DELORES EDITH BUNCH-KEEMER (c) has also written: Becoming a Moorish Lady, A Woman of Stature, Enduring the Odds, Damselfly Dimensions, Moors in America, Moors in America, Discovering Yourself, When We Were Kings, Technology as Your Business Solution, Cryptocurrency Transformation and much more....