I have no doubt that Blockchain will be valuable as a way of securing information from hackers. But cryptocurrency has to be something that is almost all hype. Unless you have so much money that you can manipulate the cost by getting in and getting out and by having enough media input that you can influence the price price you while you are getting in and out at the “right” time (Elon Musk), you are at the mercy of those folks and it is a total crapshoot. And the more people trying to explain it, Using more and more insider terms, the more convincing it is to outsiders that it is all hat and no cattle.
I am sorry, but as a person that is helping build on the Cardano Blockchain these type of comments that frustrate me the most.
- Meme coins are hype
- The new hot NFT mints are hype (Some have amazing Tech that bring value to the NFT assets)
- The fastest TPS is hype
What is not hype and is the future in the Smart Contract technology that makes the blockchain create instant funds to be transferred to another party without the need of paperwork.
This is what mining is. These computers that mine cryptocurrencies are the verification process that let's the blockchain know you are the owner. There is transaction history that is proof all over the world that you are the owner of that said asset. No governing body can take that from you
It is what is scaring Big Business right now... Imagine being able to buy a house with the proof of ownership being a Smart Contract that cost $0.10 instead of all the Realtor Fees that are around 5-7% of the cost of the house. The technology is game changing and Big Business company's are afraid. Hell on top of Banks... Real Estate Agents, Car Salesman, Financial Planners got to be shaking in their boots, as the blockchain may wipe out their jobs