(HOW) WORLD OF CRYPTO TECHNOLOGY

It seems like the technology is going faster than ever, it’s really quite amazing to see that people are moving towards blockchain technologies into different industries. and it gives us hope for a revolution in many ways.

Let me give some examples of what I can remember and some information about how Bitcoin or crypto technology became one of my favorites:

How cryptocurrency started as we know it today was a joke. There really wasn’t any concept of Bitcoin as long as you could get enough bitcoins for whatever purpose you wanted. What was sold on the black market got no value whatsoever, so most BTC transactions were done through an app. The value of coins was determined by how much bitcoin was in circulation at the time (Bitcoin has become more scarce since then, but still, there’s always something to be had). When someone buys BTC, they can choose between two options to pay with cash or with Bitcoin. At the beginning, you had several apps that let you buy BTC and send Bitcoin to anyone else who wants to buy BTC. As soon as PayPal made its way onto every phones, people could start making money online because people were buying BTC using their debit cards (the biggest company to bring this kind of payment option was PayPal, before them Visa). That helped people access more Bitcoins for free (for example, $7.3 million worth BTC in May 2017). After PayPal and banks decided to make it easier for people to withdraw the BTC from exchanges and hold it, a new type of community emerged.,but they also allowed them to discuss cryptocurrency and the future of Bitcoin. People began buying each other and trading the price of BTC, until there weren’t any more users left. They would keep talking until the next day of the ICO was released. This happened again and again until finally, Elon Musk took over, and he created Altcoin to develop Bitcoin Lite. In 2015, the first actual cryptocurrency was born. Then in 2016, it was called BSV and it’s an extension of Bitcoin. With more developers being brought on board from all over the world, Bitcoin eventually becomes just one word — “cryptocurrency”.

But now here’s the question: will crypto technology take away our jobs?  How the heck is a centralized system running a centralized system able to do everything right now? Yes, AI will replace a lot of work, especially when things are becoming complex and people have to use data analytics to analyze the situation (which we won’t get back until after a while). But it may become harder to survive without humans. We have forgotten that human beings are capable of making decisions and working together more easily. So what if a machine does all the work that needs to be done? Maybe we need to teach robots not to steal? Or maybe we should find machines to run the factories. Why don’t we focus more on finding ways to simplify and make computers more advanced without losing the core principle of the computer: to process data and store information? To understand how artificial intelligence and automation are used in different industries,

How can cryptocurrencies affect politics? Well, everyone is talking about how deep the pockets of politicians are and not that much. If a person comes to power by virtue of being wealthy, or even rich, it’s obvious that they can do whatever they want to do. Politicians might think twice about stealing and the economy would go down. If that happens, will people be interested in having a conversation? Could a country crash because of the actions of a few bad apples? No. If those actions happen every year, then there’s nothing to talk about.

Now let me tell you some stories which make me look forward to the fact that cryptocurrencies are slowly coming back. A friend of mine, a Chinese girl named Rui was very poor when she heard that some companies were looking for investment in cryptocurrency.One day when we met Rui, she gave me an address book and a laptop charger. She said she needed to download it to log into Facebook. My mom, who was staying home due to a health problem, came to her house and they both downloaded the software. She told me it was difficult for her to get her things done. And it worked amazingly well. From now on, the only thing Rui can do with a laptop is to log into Facebook. Nowadays, we can download anything that we want to but we have to use it to sign up. And I don’t care that people still need to be employed with computers. But maybe someday I would prefer it if the government didn’t take over social networks in China or the US in general.

As far as the future is concerned, I believe crypto technology goes nowhere near where it’s heading. As mentioned before, people are starting to understand more and more about the internet and the possibilities in front of it. I don’t think humanity is ready for such development. For a better understanding of the whole picture, check out your professor of my Bachelor degree website and I think that I made a point about the current state of humanity and how we can improve it.