Why we can’t ignore cryptocurrency?
Why Bitcoin and Cryptocurrencies have value? These 2 most asked question we hear nowadays.
An interview of Lex Sokolin, Autonomous Research Director Fintech Strategy with Business Insider.
Excerpt of the interview is as follows :
Lex explained cryptocurrency is the next step in the digitization of everything and it is sort of inevitable.
What is it about blockchain that is going to change the world? Cryptocurrency in particular.
Lex gave 2 different reasons of why.
First of all : Supply versus Demand. As long as people believe in it and demand exists for the said cryptocurrency, it will definitely have value and it will keep having value. More and more if it but it also depends on its use cases. For instance, Bitcoin is a payment vector and something can be done with it unlike those numbers in the bank or a piece of cash. The thing is, it can be done without friction.
Some gauge it as money supply value while other ideas like work that goes into making bitcoin in making it tamper proof. That itself cost money. So some thinks it’s the production value. Therefore there are lots of reasons to justify why the price should be one thing or another.
However, the price depends on whoever’s willing to pay for it, and that is how it’s going be.
Why digitization of money is the future?
He answered “Digitization of EVERYTHING is the future”.
Media has gone digital, music in particular, where revenue is down 50% in the industry while the remainder is all digital form.
Retail succumbed to digitization era where Amazon, Ebay, Alibaba has dominate the market with some own half of it, digital version of all retail.
Now it is happening to finance, equities and capital markets, robo advices, neobanks, and Intertek.
Bitcoin and digitization of money is just one aspect of that. It is sort of inevitable.
Pitiscoin works similarly to Bitcoin. It depends on supply and demand of the market. This is the key aspect we need to understand to enable Pitiscoin soaring upward trend. Panic selling or mass dumping will have negative impact on crypto currency value. Pitiscoin is not a program. It is a crypto currency that relies on market demand. It does take its toll on up and downs of a currency. Just that this is inevitable as it is. Keep believing for the future.