For the past 18 days, #BTC has been moving around the same value, giving September a prize month of stagnation. For newcomers, this could smell trouble not knowing when BTC will rise again to $100k. After all this is what everyone is waiting for. The main objective of crypto is to liberate the holders from using fiat currency. While it is fitting to do so, supply and demand dictate the price.
Having BTC moving sideways is an okay situation where volatility is weak.
Reading through the line, #Henry Ford, the inventor of the Ford company did think about an energy currency to replace #Gold. He think by having this currency, there will be less war funding and less control by the banks to inflate value for wars. At the time of his thinking, he was ahead of what will become the true energy currency.
Somehow we have #BTC now to fulfill his dream. We have more than Btc, we have so much more it has develop to take over the world and shift us away from fiat. Just in Africa alone, the use case of crypto is enormous. From April 2019 to June 2020, $100 million of crypto went to Africa. It may sound big. With inflation and corruption, this number will get bigger. I just read a post where Nigerians are losing money from their bank account. Banks do nothing to help.
I think they are biting the wrong customers. Many millennials these days will not trust the banks to hold their funds. While the evolution of smart phones are helping the energy currency, it will be a way to have the bank with you 24/7. No need to require a tierce party to deliver your funds. I think we are getting better at this trend. Fiat currency getting into crypto will remain in crypto.
At the time of Henry Ford, Gold was the problem since nobody really knows how much Gold the banks hold. They can easily falsify numbers to easily make a move. With crypto, what you see is what you get. #BTC that exist since inception is the same. As of right now 18,819,718 and counting till 21,000,000. Hard to tackle a deflationary token. While Ford's idea speak volume, we have to wait quite a few time for the energy currency to make sense where there is no single control over crypto.
The transition will take time the same way the transition from horses to combustion engine.
Maybe $100k/BTC could shift the balance for good. For the past 10 years it is an uphill battle. We know for sure the winners are marching with innovation. It is a matter of finding the right balance.
Everything will come running toward the fastest, friendliest, safest way to transact. Forget to say the cheapest, way cheaper than conventional way.
While the market is thinking how to part ways with September, the moment is prime to consolidate and be ready for the rest of 2021. The best medicine with crypto, use patience. Find the token when you go 5 years back, plan five years in the future. This is the token to think of.
In #Leofinance community, you will have an array of choice at your disposal.
Keep vesting in you.