Published 29 Jul by CryptoDIffer Team
Highlights on Suppoman
"WHY CRYPTO WILL CHANGE EVERYTHING???"
Today we will discuss the situation with ETF Winklevoss, news altcoins, as well as my vision for the future of cryptocurrency.
Bitcoin went down to ~ $ 7,800, but immediately recovered to ~ $ 8,200. This was definitely influenced by the expiration of futures for CME, as well as the repeated negative decision by the SEC on the application for ETF acceptance from the Winklevoss brothers. It's not surprising that this news came under the shorts of the big players at BTC, as they act faster than the market and often manipulate them. It is noteworthy that the news about the Winklevoss came out in almost all the well-known financial media, but in none of the headlines from the articles was the word "appeal" indicated. The truth is that after the refusal to the SEC, the Winklevoss tried unsuccessfully to appeal the decision. Obviously, all these articles were issued for unenlightened people, in order to once again cause negative sentiments in relation to cryptocurrencies. An article in The ICO Journal says that, according to a source from the CBOE, the refusal to Winkwoss was expected and does not mean anything at all. Compared to CBOE, Gemini Winklevoss has a fairly low weight and acceptance potential in the SEC. Despite this, in the crypto-currency community, an active discussion began, why ETFs on Bitcoin will not be introduced, mainly because of high volatility. Personally, I believe that volatility will not go anywhere just before the introduction of ETF, which will necessarily take sooner or later.
Altcoins have been under pressure of negative news for 7 months and, recently, of BTC's growing dominance, but at any convenient time for growth, one can expect a strong growth momentum.
Binance declares support for airdrop VTHO to VET holders (source)
More recently, VeChain's price was $ 1.6 as a result of the long FUD associated with ETF at Bitcoin and the sudden stop of LBank's work. After the news from Binance, the price soared to $ 2.7
Iran considers the introduction of the national cryptocurrency under the threat of imposing sanctions on the part of the United States (source)
Iran may soon introduce its own cryptocurrency to circumvent US sanctions. This is a way not to reckon with imperious states, which shows what cryptocurrencies really are capable of: restructuring and decentralizing the traditionally established balance of power in the world arena. Also, in August Venezuela's coin "Petro" will appear in circulation.
This news indicates that companies will begin to enter their own currencies to achieve their own goals from the community. Everything is just beginning and we are waiting for a strong leap in development, once such things become massive.
Today, digital money is already the norm, and we are not so far from completely abandoning paper money. To date, only 1.5% of the world's population owns crypto-currencies. We need at least 25% to see their more active use. I think that in the future all services will be tokenized, for example, your local supermarket will use its own cryptocurrency.
We will also see the emergence of businesses based on the cryptocurrency. For example, the platform Steemit, where you can already earn a cryptocurrency, for which in the future it will be possible to buy various goods.
A real undermining of traditional foundations will come with the development of infrastructure projects such as ETH, NEO, Hashgraph, when the business will have the opportunity to conduct fast and free transactions.
Some time ago, the Internet was also watched as it is now on crypto-currencies. There were very few sites and almost no use value. However, now we see an ecosystem with a huge number of Internet businesses and sites providing various services. The Internet has changed the business, and the cryptocurrencies will lead to a new round of these changes. Also, before the Internet was considered as a haven for criminals who have the goal to conduct shadow deals and money transactions that can not be tracked. This stigma now pursues crypto-currencies, and this confirms the nature of the future impact of the crypto-currency.
Crypto-currencies are similar to sites on the Internet, many of which are hopelessly outdated and replaced by better options. So, for example, the popular initially Ethereum can go into the background and give way to a more perfect Hashgraph. Ultimately, there should be opportunities to conduct instant and free transactions and many companies will not survive the explosion of a cryptocurrency bubble, just as it was with dotcoms. However, I do not believe that the BTC will be superseded by anyone since it will remain modern gold.
A year and a half ago I was a beggar and, with the advent of a cryptocurrency space, I managed to seriously improve my financial situation and change my life. Take the same Steemit, Facebook will not pay you for writing blogs, as it does on this platform. Platforms like Steemit will allow people in poor countries to make money without investment. My son has more money in Steem than on his own bank account. This platform can return equality to the personal finances of people around the world, and I hope that in the future there will appear more such businesses with the potential to crowd out large centralized companies.
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