Let’s face it, money, the possibility of losing it, and the potential of gaining it, causes immense fear and anxiety for almost everyone. Money is always the focus of any topic as people cannot make a decision without asking questions like: How much will I earn? How much does it cost? Will I lose money? Is this a good investment? So, when blockchain technology became mainstream, money became the topic of discussion, blockchain became a stock market, and fear became cryptocurrency’s biggest enemy.
What is the Problem Here?
Well, yes, coins have value and act like a market with rising and declining worth based on buying, selling, and trading trends. And as we have seen in the past few months, they can be easily manipulated (just like a consumer market) based on opinions of professionals, investors, and newscasters. These opinions cause panic and quick action, which is gaged using a Fear and Greed Index called a Crypto Signal.
While this reaction might help professional traders know when to buy and sell, it is a huge problem for mainstream users and market growth for several reasons.
- It causes actions based on rumors. And in this digital age, messages spread like wildfire. Once a headline hits that the market sucks, the masses become afraid.
- This fear is a manipulation of the masses. Ideas can be implanted like a cloud of destruction and when a few people control the media, these ideas are intentional.
- Instead of people investing in the future of cryptocurrency, they are making rash decisions that actually cause them to lose money.
- This makes the crypto market unstable, which it shouldn’t be. It has become too much like the stock market in that it is affected by opinion harnessed by emotion. Good investments become bad gambles.
- When an investment is unstable it becomes fearful, so less people participate. It gives the impression that no real future is tangible.
Technology is Good for Business, Social Change is Not
An inevitable force must be controlled. The technology behind blockchain is as revolutionary as the internet itself. It has changed and will continue to change how business is performed. Its creates secure, fast transactions, so why aren’t big companies like Amazon, Facebook, and Google jumping at the chance to implement it?
There are two sides to the coin: an innovative, groundbreaking technology and the anonymous, decentralized economic society. Businesses have already begun to use the technology on operations like supply chain tracking, contracting, and security. However, when it comes to implementing the social changing network of cryptocurrencies, many large companies stay clear or more at a cautious pace.
Blockchains can be controlled, regulated and targeted for specific tasks, so they are acceptable. Businesses do not risk losing money, they only improve production. The real change and the real threat comes from the concept of alternative money.
Blocking Cryptocurrency Expansion
It is obvious that cryptocurrency is a menace to fiat currency unless the money keeps moving. You need fiat to buy cryptocurrency unless you’re really efficient at mining. If you hold onto the crypto coin long enough it becomes more valuable than the fiat you used to purchase it. It is in the best interest of governments and banks that you do not hold onto your coins. A fluid market keeps fiat relevant by scaring people into retorting to their government currency.
Crypto is Still Surviving and Thriving
It may seem like the controllers of the market are winning as cryptocurrency values continue to rise and fall with ease. But, coins are popping up more and more in the economy regardless. New small businesses and existing ones are giving us more ways to spend our cryptocurrency rather than converting it back to fiat.
Don’t Give in to the Market
It may be tempting to sell your coins in hopes you don’t lose money, but this will only slow down cryptocurrency’s growth. You are shooting yourself in the foot if you let the market scare you. It is really up to the users of the crypto world to stay strong in order to strengthen and continue the movement toward a decentralized economy that is not controlled by banks and governments. Cryptocurrency should not be feared by people rather used as a revolutionary force to create an end to government corruption like over taxation, war crimes, and bank and corporate bailouts.