Powerful Men supporting Cryptocurrencies

Lebedev

Lebedev

Moderator
Moderator
Jun 26, 2018
153
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1,194
After long time of crypto industry going down, there is finally a light that helps us to see that cryptocurrencies have great future. In five years they are going to be become just as used as fiat money.

To begin with, Tim Draper, a person you have probably never heard of, but who has incredible influence on the financial institutions. In his opinion, after some short time, an estimated 5 years fiat money all the people are used to will become an instrument of fraud and nothing else, while cryptocurrencies would move it.

According to his words scammers will be using crypto less, because the blockchain all the coins are based on. One of the fundamental ideas of bitcoin was distribution and transparency that goes with it: every transaction can be seen, as sequence it is pretty simple to find out where are the stolen money and who is the man who did this.

In today's system government is the only one who can control all the money movements and do whatever it want in order to punish criminals as well as people who have done nothing. In the brave new world based on blockchain no one will be punished, but you will be able to avoid all the scamers.by simply looking at their transaction history in blockchain. That way you’re going to become the only man responsible for what you own.

Analytic has also emphasized on that cryptocurrencies are becoming more used both as an investment opportunity and as a way of payments. Their benefits are obvious: fast and cheap transactions as well as chance to do international payments despite all the limits.

This would be a very inspiring opinion, if Tim hadn't do so many statement: Bitcoin costs $250,000 in year 2022 or crypto market capitalization as high as $80 trillion after 15 years.

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Hopefully, people who were lucky enough to make a fortune on cryptocurrencies aren't the only ones who believe in the brave new world.

Another influential and well-known man interested in crypto technologies is Elon Musk, who finds coins a great alternative to paper money.

In an interview with ARK Invest Tesla, PayPal and SpaceX founder has stated that in his opinion cryptocurrencies are better than common fiat money, that will be less and less used as the time go. What is more, he described technologies bitcoin based on and its structures as “brilliant”.

The main reason why these technologies will take classical money place is because they can't be controlled. Paper money aren't as relevant as they used to be and bitcoin is for sure the best alternative to a piece of paper.

Unfortunately, Tesla can't use these distributed technologies at the moment because there are lots of aspects that make it almost unreal to become common. But people involved in the industry have been working hard in order to solve these and many other problems - crypto doesn't stay still as fiat money do.

This isn't the first time when Elon talked about the perspectives of cryptocurrencies. But after the first time there were lots of scammers pretending to be Musks and asking to send some money on their bitcoin wallets. This was a silly half scam, half joke, some people however believed in that and lost their money. So the very basic rule of using crypto is that you have to be aware all the time.
 
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