I know of a few towns, which issue a local currency that is used among its residents.
A private currency isn't a new idea at all.
One of my core habits is to read one financial book a month, and I’ve done so for 11 years. A total of 132 books are under my belt. Three of them have focused on the topic of historical currency systems.
I can tell you that it puts Bitcoin and cryptocurrencies altogether in an entirely different perspective when you realize how many ideas have been tried before.
Looking at Bitcoin and the 1,564 other projects, which are currently trading, and comparing them to centuries of successful and failed ideas, Pure Blockchain Wealth has concluded that decentralization is one of the most important economic attributes ever put into practice.
Contrary to countless monarchies, rulers, governments, and municipalities, which forced by law and decree, their people to use certain systems, cryptocurrencies will never be shoved down anyone’s throat. On the flip side, if mass-adoption is what we seek, then, as users of cryptocurrencies, we must adhere to regulations and laws in the jurisdiction we operate in.
There’s no way around it.
Yes, at heart, many of us are anarchists, or at least in favor of sound money policies, a far less intrusive government, a much more open market for competition, and of course, a new way of issuing currency, since this current one has put the U.S. government into a $21 trillion debt nightmare.
Digital assets, contrary to fiat currencies, are technology-based, and therefore in constant development mode.
That’s their beauty, as well as their weakness, since I can’t even count the endless technologies, which are obsolete now.
Bitcoin, blockchain technology, and countless other patents, which are now being filed, are the future – there’s not a shred of doubt in my mind about this, but it doesn’t mean that, as an investor, you’ll generate profits from this boom.
In order to do that, you must NOT conform to any conventional wisdom, EVER.
Cryptocurrencies have not changed the rules of the game!
Making money in this world still consists of independent thinking, since herd mentality is priced into asset prices – it’s the consensus.
Our role, as individuals, is to ask questions and to figure out if the consensus is right or wrong.
The 2nd truth we must keep in mind is that there are no gurus, except the ones we make up and accept to be as such.
Underneath it all, each person is a thinking center, and in our world, thinking pays much more than physical chores do.
4,000 years ago, being physically fit was critical, but today being mentally fit takes the prize.
The blockchain industry is wide-open right now, and each of us can experience massive success by applying ourselves.
Regulations will shape this industry in the next year or two, but once they are put in place, the next phase will be another spurt of innovation that takes us to a higher level.
Make it a point to find your competency niche, a business environment, which you have a competitive advantage in, and flourish within it.
You can make a fortune without knowing the 1st thing about developing and software, since digital projects need marketing, leadership, vision, and many other attributes to succeed.
Don’t fear regulations – they’re the next stage of growth, leading up to mass adoption. If you want to create a pet project for anarchists, remember that it will never be global. Regulations are the price we pay for including the general population in the crypto economy.
