It’s hard to believe the #digital currency has been around for only 10 years - that’s right a decade and what a story it has been for the newest currency in the world.
When I look through and read #Bloomberg, #Cointelegraph and other similar financial news hubs, it’s obvious to see there are currently a changing array of opinions going around the world, about the future of the digital protege. With some arguing it’s a bubble while others saying it’s the revolution that will change the financial world as we know it.
Its difficult to make sense sometimes what will become of the likes of #Bitcoin and #Ethereum in the future. I ask myself, whether the digital currency is here to stay and is it really worthwhile investing. Something i’m sure, many investors ask along with many other questions.
The current news agenda can be confusing, and perhaps confusion is part of the strategy to lure people to learn more about the currency - but i think it’s more a battleground between old financial leaders and new tech digital currency revolutionist. So I guess the first lesson in survival, is winning the argument on the news front. Doing that right in the financial world requires a clear strategy and a whole load of tenacity to win arguments and to be heard by journalists.
I think both, believers and non believers of the #Cryptocurrency, have good grounds for their equally seismic thoughts - both making the headlines each time an announcement is made. But i guess that’s really not helpful when trying to decide on the digital currency future.
When you take a look at the past ten years of the #Cryptocurrency, it’s pretty impressive the obstacles and scams it had to overcome to even reach its mild acceptance of today. I should say my thoughts on the currency are taken precisely from the history or story - with many highs and lows of the currency. Don’t worry I took a more #Snapchat type approach when looking at it.
Something really interesting is realised, the #Cryptocurrency seems to have a massive demand from investors and the public. And when I say ‘demand’ - nothing seems to put them off. The Cryptocurrency had been hacked in 2010, with a potential loss of 184bn BTC (that means bitcoin currency). Yet in 2011, more digital currencies like #Litecoin and #Namecoin emerged. Later in 2011, it was reported the digital currency was being used by the criminal underground on the dark web to purchase and manoeuvre drugs. In 2013, China and Thailand banned the digital currency that was being perceived as a scam by many in the financial world.
I think a lot of people really thought it would be the end of the #Cryptocurrency, especially when someone like Jamie Dymond calls it a ‘scam’ and other authoritative figures from Black Rock hedge fund have the same to say about it.
Yet still in 2016 the demand for the digital currency kept rising - against all market speculation. I guess this makes it unique, as the currency is going against traditional trends and speculations from senior investment bankers -“the experts” - which makes it even more difficult to really gain any valuable analysis of the currency.
Then you have speculations that big banks like Goldman Sach’s are considering to set up a Custody offering for #Cryptocurrency. This is basically a mechanism setup to safeguard against any investment - again this is due to huge demands by customers to diversify their investment pot towards Crypto type financial instrument.
My honest thought on #Cryptocurrency is one perhaps shared by many within the investment world. The digital currency has seen much success and the drive to make it a success is perhaps the reason so many investors are so loyal to currency’s success.
However, for it to succeed in a sustainable manner and exist the for longer duration, the #Cryptocurrency have to accept their needs to be some kind of standardisation in the way investment happens, with a bigger effort in ensuring everyone respects the opportunity to operate with limited regulations.
Additionally, the Cryptocurrency need to take seriously in the manner in which these platforms are being used on the dark web - which will no doubt stick in investors minds as a minimum, but could give security agencies pushing for stricter operating rules.
As #PR consultant mindset, the industry need to be more vigilant of the issues that are being continually highlighted. Thus it must at least show these points are being taken seriously and is not accepted within the community - before these passive issues become very much a crisis. In short the #Cryptocurrency is not a bubble, but more a growing instrument with the support of investors has the opportunity to become mainstream.