Bitcoin Came Out Of The Financial Crisis: Will Crypto Adoption Come Out Of COVID-19?

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Many are calling this an inflection point. The global economy is tanking and more people are starting to believe there is an agenda. Not necessarily with the virus itself but with the reaction.

Billions of people are going to suffer setbacks because of the actions we are seeing. It is fairly easy to see the major power grab that is taking place. In the efforts to "protect" us, Orwellian approaches will be implemented. Bill Gates, for example, is not shy about his intention of having everyone vaccinated and chipped over this.

Bitcoin provided the world with an alternate financial system. For one of the first times, peer-to-peer transactions could be monetized. This means that not third party facilitators were needed. Of course, Bitcoin came into being as Satoshi saw the corruption of the present financial system.

Now, a little more than a decade later, we are fed another crisis. This is ever wider reaching then 2009. Tens of millions of small businesses are being destroyed around the world which means a lot of jobs are going away.


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Central banks are doing all they can to keep what is left of the economy from toppling. Naturally, to them, it makes sense to try and preserve the economy by ensuring hedge funds and major institutions do not get wiped out. Instead of pushing large companies into bankruptcy, where stock and bond holders get a shave, they are protecting that and letting employees take the hit.

Over the past 5 years, the cryptocurrency industry has really grown. While there is still a lot of work to be done, the foundation is in place for an alternate financial system. The present one is being destroyed in a power grab meaning people are going to have to look elsewhere.

Perhaps it will finally dawn on people that their trust in "authority" is completely misguided.

The governments of the world are not going to do anything to rectify the situation. One of the main reasons is because it is not in their best interest. Politicians and bureaucrats are gaining enormous power out of this crisis. They are not going to give it up.

For those who are against centralization, we are seeing the biggest push in our lifetimes. Not only are governments going to assert more control but mega-corporations are only getting bigger. Those that are left standing after this will have much less competition. Those millions of small businesses that went away, where do we think that business will end up?

Never has it been so important to have an alternate system. In times of crisis, "black markets" pop up. People are forced to turn to non-government sanctioned activities. Of course, many of these activities are not approved because they are actually in competition with governments, but that is another story altogether.


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Over the next couple years, it is likely that providing people with a means of earning is going to be vital. The fact that we see applications which rewards people for their activities is offering some hope. In times of desperation, people suddenly become a lot more open minded.

We are already seeing some reports of banks around the world not allowing people to withdraw their own money. This is a basic component of cryptocurrency. The fact that every wallet provides essential banking services, whereby one can send, receive, and store money, is crucial. This offers a ray of hope to those in situations where banks are starting to feel the pinch that is being created.

The elite are on an asset accumulation spree. Like all collapses, they tend to benefit long term because they are able to re-enter markets are a lower price point. Once this happens, they collect more of the total wealth that is out there.

Crypto-economics offers a way around all that. To start, we can see the ability to create coming to the forefront. Of course, productivity and innovation is what always expands economies. Thus, we can see the expansion of the crypto universe as time passes.

We also witnessed what happens when the "wealthy" try to come in and buy control. The open source nature of things means that power is in the hands of community. This is a novel concept and one that does not exist in our present financial system.

Finally, every new project offers average individuals the opportunity to be the "early birds". By getting in early, if successful, those people will benefit most. Hence, even if some big money comes afterwards, it is only buying out the average early bird.

It is likely that this crisis pushed tens of millions of people to drop out of the present system. This is good news since it was not serving them anyway. It is up to us to keep working to ensure there is an alternative for them.

Ultimately, we could see a lot of crypto adoption as a result of this crisis.

It could end up being one of the legacies of COVID-19.


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Posted via Steemleo



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6 comments
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If wide adoption comes, it would likely be Ripple (which has zero benefits of crypto). For some reason people want to be tapped into things that link to their bank, but centralized crypto should be avoided!

Bitcoin has gotten slightly more functional, down to on to six hours for a transaction. I know have people wanting to buy 2 and three bitcoins at one time. These are people that used to buy believable amounts for themselves are now openly acknowledge that they are selling them for a quick turn.

I refuse all such attempts. Bitcoin is not for the billionaire. Not selling to worker bees.

Billionaires are pissed that they can only by paper bitcoin in the quantities they want.

They would need to find 143 people who each have 1000 liquid bitcoin in order to obtain 1 billion dollars worth of bitcoin. Not realistically possible.

Like gold that can't be had in quantity, paper bitcoin contracts may be a possibility, but again, that is only paper. It's not crypto.

Nice article! Crypto is for the common man!

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The politicians and the bureaucrats should really hate cryptos, however, many of them want that moonshot and so are playing both sides of the fence.

Cryptos are just the beginning of a money revolution.
But, this one little step will destroy the evil of wall street. The Fed, the too-big-to-fail banks, govern-cement accounting...

And this will bring that dreaded word to govern-cement bureaucracy... transparency

Cryptos do this in such a way that it becomes impossible for govern-cements to do otherwise.

Govern-cements: "We have to use this sneaky coin, because of national security..."
the people: "Bullllll shit"

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It is actually the beginning of a much bigger revolution.

There is a lot going on in the decentralized world that extends far beyond money. We are going to see centralized entities coming under attack.


Posted via Steemleo

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This is something that drew me to cryptocurrency initially and even during rough financial periods - my ability to control my wealthy. When you're poor, there are so many barriers to things like bank accounts and mistakes can really snowball if you let people automatically withdraw. It got overwhelming quick. I like crypto because I feel more in control.

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Crypto adoption will increase but the problem is where would the money come from, as recession will hit us hard.

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