Now for a while now i have been trying to see who has the strongest advantage in this New Financial Battle for market dominance between the Banking system which right now controls everything for most part/fiat,and The Cryptocurrency System the new kid on the block who doesn't have as big of an influence yet . First off i compared their utility and over all ease of use and block chains are easier and faster to use when it comes to funds transfer using Bitcoin as the example sending 100 dollars worth out of the country could only cost as much as 38 cents and 10 minutes or less depending on the wallet type used. When sending 100 dollars by money order or bank transfer the fasted they will get there is half an hour and this will cost you almost 15 dollars if it is out of country so the clear winner is crypto in this particular contest. The next area I looked at was backing or suport network. The example i will still be using is bitcoin , on the banking side there are thousands of banks scattered around world none of wich are completely conected to each other , on the bitcoin side you have thousands of miners all around the world all connected to bitcoin network ,and millions of wallets and users that are all have easy access to connect with each other if they choose too so again crypto is clearly ahead . Next i looked at popularity and since Fiat was first it currently is the most popular means of exchange for goods and services and this is where crypto begins to loose its advantage in this conflict and an issue begins to arise for our cause. Banks don't like Bitcoin because they can not control its flow and use . Here is where a potenial weakness of a kind is in Crypto. Manipulation!Bitcoin is bought and sold as a digital asset as such fiat is used for its purchase this means the biggest holders of bitcoin could be the Banking System and Governments both of which are the biggest holders of fiat money so if this is true they could control the price of bitcoin just by selling it at random in large amounts and then buying it back when the price dropped because of large dump on the markets. Then doing the reverse buying large amounts and selling small amounts taking advantage of retail buyers who suddenly try to buy as much as possible because of lack of supply. This in theory they could do until they where in possesion of most or almost all of the bitcoin supply. This is just a theory but its unnerving when you stop and think that this could help explain the extreme volatility in the price of bitcoin.This risk to the Bitcoin system can of course be countered in certain ways such as more people holding bitcoin and bitcoin becoming more widely used in every day life but its something we should all keep an eye on. Thanks for reading my artical and I hope you gained a new perspective walking through crypto space with me.
