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What Makes Cryptocurrency Exist?

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Demnok Lannik

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In the past few years, there has been a lot of discussion about CRYPTOCURRECY. Like, Bitcoin, Ethereum, Litecoin, Ripple, Dash. There are those who welcome it as a new form of investment, but not a few are against the presence of this digital currency. Especially the government and financial authorities.
Regardless of the pros and cons, there is one intriguing question. What prompted the birth of the Crypto, which is now starting to be traded in the forex market?


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#1 - May 23, 2021, 08:44:45 AM

Razor

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If you want to answer the question above we need to see the initial history of the emergence of Bitcoin in 2009. Before the appearance of Bitcoin in 2008 there was a global economic crisis that caused the third largest financial institution in America, Lehman Brothers went bankrupt because of the economic storm.

Before the 2008 global economic crisis, ten years earlier, namely in 1998 there was also a financial crisis, from that experience, people began to lack confidence in the existence of the current financial system, and look for a new system they could trust. Bitcoin is the answer to the problem, Bitcoin has the advantage where we can make Peer To Peer transactions without involving third parties (in this case the bank), the transaction is faster and the cost is not as expensive as the transaction costs through the bank. So it is not surprising if Bitcoin is designated by the bank and also a country that controls the central bank. This is where the actual war that happens, the ratio of a country emerges from a power / government, Bitcoin emerged from a technology. Who is the winner, let the time answer it.
#2 - May 24, 2021, 02:21:29 AM

CR7

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Perhaps the original goal is to make it practical and simple, so that there will be a currency that can later be for all transactions that can be used throughout the world without us having to think of exchange money when they want to shop
#3 - May 24, 2021, 12:11:01 PM

ZB

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Bitcoin is possible because you want to make the eyes that can be used in all countries, so it is universal, meaning we don't need to bother when we have to go another country and make a transaction
#4 - May 25, 2021, 10:37:51 AM

Nasmoco

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Quote from: ZB on May 25, 2021, 10:37:51 AM
Bitcoin is possible because you want to make the eyes that can be used in all countries, so it is universal, meaning we don't need to bother when we have to go another country and make a transaction
It makes sense, but unfortunately there is no clear regulation about the currency of Crypto even though Bitcoin though, so if there is a regulation, it can be once the Crypto currency is used universally
#5 - May 25, 2021, 02:14:18 PM

joshgandosh

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In my opinion, what drove the birth of cryptocurrency is because there are so many currencies in circulation and of course someone has a lot of money in their wallet. So there is a need for a breakthrough digital money that can be carried everywhere without carrying a wallet or savings. So that this complexity can be overcome with digital money to buy and sell goods. But in fact cryptocurrency is considered illegal money because it feels that the money does not have a circulation permit and is used as a means of transaction goods.
#6 - May 28, 2021, 01:30:09 PM

Unyil77

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Possible to compete with the USD which dominated the world, then there is a desire to make a rival currency that is universal, so that in the end the whole world will use it, of course with more simple and flexible
#7 - May 29, 2021, 12:26:03 AM

Tahajud

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At first, Crypto was created as a breakthrough form of the dominance of fiat currency circulated by one country. Coupled with the injustice of the exchange system, where there are countries that are strong once the currency and some are very weak. Not to mention the moral hazard of the government that prizes money as long as the devaluation causes the wealth of people to decline.

So, programmers try to make digital currencies such as gold, which are not easily available and are equal value in all places, which are limited so the government cannot see it. The system must also be safe and sophisticated so it is not easily broken. That was the beginning of the reason for the creation of Cryptocurency.
#8 - June 10, 2021, 02:38:12 AM

Iw4nN

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I think crypto currency appears to compete with USD which continues to dominate, so that there is a comparison or alternative other than USD, and it can be very simple to use.
#9 - June 12, 2021, 07:26:54 AM

Tahajud

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As we know in this digital era of communication happens very practical. Humans no longer need to wait for days to get an electronic mail reply. In addition to eltronic letters, telephones, video calls, short messages, pictures, videos, everything can be sent directly from A to B without time difference at all, no matter the distance between the two. This happens because of technological sophistication that not only cuts time but also communication intermediaries such as the post office which is now no longer relevant. Cryptocurency was created to overhaul the circulation scheme. Through it, transactions between A and B can occur without intermediaries, in shorter time, cheaper costs, and even more securely than transactions offered by banks or other similar institutions.

My future for crptocorency will be increasingly popular because of its convenience, especially now that cryptocurency is aligned with the world currency and important commitment because it has entered the forex exchange. Lots of ease of convenience that we can get through cryptocurency like for example transfer fees abroad at a free fee compared to transfers through banks whose costs are expensive.
#10 - June 14, 2021, 07:59:52 AM

CR7

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maybe so that later transactions can be simpler and faster without using physical money and can be valid in all countries, so there is no need to exchange money anymore
#11 - June 18, 2021, 12:56:22 PM

mugiwara

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It could be that the birth of this Crypto is because the idea of making a match for the USD that has been overded or becomes a world currency, and its owner will convenience and flexibelity
#12 - June 23, 2021, 01:23:31 AM

Trader Hijrah

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in my opinion this Crypto currency can exist because thinking that there will be universal money that is quite simple to use and can be used anywhere
#13 - July 01, 2021, 03:09:42 AM

caripoin

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if from my understanding, this could be because we want effectiveness in terms of transactions, because if we make transactions via bitcoin, we can directly do it anywhere, without having to exchange money
#14 - July 09, 2021, 11:49:02 PM

Iw4nN

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in my opinion the creation of Crypto or Bitcoin currency in particular is a form of desire to be able to transact with more local and more simple
#15 - July 11, 2021, 11:43:57 PM
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