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From inception, money has been a Tool for control. If you ask me if there is an A to Z decentralized ecosystem right NOW, sorry if I am about to break your heart but it is a big NO. It has been patching at some point. If it is P2P, then it is supposed to stay so ALL its existence but in the end it is always a peer-to-cash. fiat currency had become more like an economic venom.
We have seen the current price of Bitcoin and as you will expect, there will be so many speculations and contributions surrounding it. We get used to this, and well, we will have to side with some views. We have seen Bitcoin shift focus entirely; yes, the promised whitepaper has been twisted. No one saw it coming but it gets usual when big players come in.
What was the promise? Quick and flexible global transactions. We can talk of privacy in-between as middle manship was also curtailed. How did it end? Well, its early phase went on well maybe because it was snubbed by then but when the big names stepped in, everything evolved.
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I am trying to build this article from an article I read on this ecosystem surrounding the reason why Bitcoin is facing turbulence. His idea was the fact that ‘Bitcoin switched from money to store of value’. What was even going to be the fate of cryptocurrency in the first place when the final backdoor leads to fiat. As long as Bitcoin and its transaction use case is quantifiable, we shouldn't be surprised by these later results.
The fact is, if any cryptocurrency will ever have to end up truly as cryptocurrency, it will never have to be exchanged for and compared with fiat. Yes, we are talking about a complete ecosystem use case. This scenario gets very difficult here because in actuality, the big players are not just going to watch a new money pattern sweep away what they have gain authority over for a long time.
Secondly, we can even consider some unethical players who have hoarded it for years. Actually, I am not writing this post to point fingers but we also have to understand that some of these people are in places of authority. Haven't you seen how much attention has been turned to stablecoins lately; yes, it is fiat quantifiable.
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Bitcoin as money or as a store of value, it still leads in One Direction, it can be weighed in cash. The entire vision was missed and gambling became the latter. Has it not been about green candles? One should get used to the fact that market are manipulable. I personally won't be too surprised seeing Bitcoin rush down the lane to even 20K, it becomes an opportunity for big players to enter easily.
To conclude, let me add, this is not about any form of arguments or transactional assumptions. The challenge of cryptoverse remains the fact that it can be paired with Fiat currency. Bitcoin has played its part, it just that one needs to accept that there are bulldozers who will always bend whatever comes up to fit old standard and pattern. This is the current fate.
This is an article covered by dani-EL; a broad niche writer. I write on faith, life facts and daily living, business and economics, small scale and daily businessing, cryptocurrency and technology. And yes, I do cover articles on financial education and investment updates. And note, if I happen to be a financial adviser to you, the TOP financial advice should be ‘DYOR’ (Do Your Own Research), I can't afford to break your heart
