Why Cryptocurrency Is A Need
Many question the validity of cryptocurrency. Some proclaim it has no value. Sadly, there is a lot of misunderstanding about the existing financial system and how short of money it really is.
In this video I discuss why cryptocurrency is needed. Where are dealing with an ever expanding economy, hence the demand for money keeps in created. Because of this, it is imperative that people realize the money has to come from somewhere. Since bank lending was flat since the Great Financial Crisis, we are seeing a shortage of both USD and collateral. This is soemthing that will only get worse as the decade progresses.
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You reviewed it very well, @taskmaster4450.
Many people are not aware or don't even want to know what they are actually ordering.
At some point, people will be forced to enter and be involved in it.
Although these large price fluctuations do not give a good reputation, but you are right, people will realize the importance of cryptocurrencies sooner or later.
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I had decided to stop funding my crypto wallet with fiat that I own. However, I see no other choice under the current financial situation. Crypto is still my exit plan regardless of short-term/mid-term volatility.
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I agree with the monetary expansion aspect. The current system has most of the systems just not being trusted. I don't really see a future for them as the real deal is much better.
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That is exactly what the expansion economy is about, but how is there a group that is affected by the fact that Cryptocurrencies can assume that role, let's say, as the main producer of Money?
Summary:
In this video, the speaker discusses the necessity of cryptocurrency in the current economic landscape. He begins by tracing the historical evolution of economic activity, emphasizing the increasing need for money as economic growth expands. He highlights the limitations and challenges faced by traditional banking systems, pointing out the lack of money supply and collateral. The speaker delves into the future, envisioning a transformation towards a metaverse and technological advancements like artificial intelligence. He stresses the immense funding required for various sectors, estimating a need exceeding $100 trillion over the next decade. The speaker concludes by emphasizing that cryptocurrency is not just an option but a necessity to meet the demands of the evolving economy.
Detailed Article:
The speaker commences by illustrating the historical progression of economic activity, noting the inherent necessity for money as economic output expands over time. He emphasizes the steady growth in economic activity fueled by developments like the Industrial Revolution, specialization, and digitization. The speaker highlights how increased economic activity creates a greater demand for money, driving further economic output.
Transitioning into the present economic landscape, the speaker delves into the challenges faced by traditional banking systems, particularly post the great financial crisis. He points out the stagnation in bank lending, underlining the crucial role of bank lending in expanding the money supply. The speaker discusses the limitations of the current banking system, citing the scarcity of collateral and the restricted balance sheet capacities, especially since the great financial crisis.
Looking towards the future, the speaker envisions a paradigm shift towards a metaverse and significant advancements in artificial intelligence. He predicts a surge in technological capabilities, demanding massive funding across various sectors such as communication systems, AI, robotics, and space exploration. The speaker projects a need for over $100 trillion in funding over the next decade to fuel these advancements, emphasizing the enormity of the task at hand.
In conclusion, the speaker stresses the indispensability of cryptocurrency in addressing the escalating demands of the future economy. He highlights how cryptocurrency empowers individuals to create money through blockchains and facilitates decentralized control over financial intermediation. The speaker underscores that cryptocurrency is not merely an alternative but an essential solution to bridge the financial gap and meet the expansive funding requirements of the evolving economic landscape.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.