In July 2019, Donald Trump tweeted against cryptocurrency, U.S. Treasury Secretary Steven Mnuchin blasted bitcoin, U.S. Congress lambasted Libra, and the I.R.S. threatened more than 10,000 Coinbase users with audits.
Venezuelans realized the importance of bitcoin and other cryptocurrencies once their national currency’s value fell by thousands of percent. Had someone told them to use it before that time, they would have undoubtedly resisted doing so.
Unless people REALIZE the flaw with the current system and its process, it’s hard to poke them to use a new one.
So, I had this encounter with a guy at the airport and we got talking about our profession. as soon as I told that I was into fulltime crypto trading, he was like, “why would anyone use cryptocurrencies. I’ve heard they can replace fiats. Do you think cryptos really can do that?”
And then began my explanation. He seemed impressed. It was clear that his perception was based on what he’d heard on news.
It was so satisfying to convince one stranger that cryptos have a future.
Cryptos and blockchain, for one part, are helping make the planet greener. While they are also adding up to the usage of energy to mine the blocks, or the cryptos. It’s confusing. But it’s worth watching how things turn out for this industry.