Topic: Cryptocurrency is a revolution and an evolution of finance - page 2. (Read 193 times)
I strongly agree with ur that cryptocurrency is wonderful revolution in the finance sector, but most of the industry isn't regulated. Cryptocurrency would be around for many years to come and right now it's still in it's infancy stages, but it needs a lot of regulations to make would be investors have faith in it due to it's volatility.
As a Vietnamese, I am first telling you a true story of our country's history.
In century XIII, Ho Dynasty overthrew the 200-year Tran Dynasty (who defeated Mongolian invasion 3 times). Tran Dynasty's remnants after failing defending turned to ask for help from China's Ming Dynasty. So the Chinese was invading Vietnam.
Ho Quy Ly, the Emperor of Ho Dynasty was quite aware of that and he prepared all ways to modernize the country so Vietnam could become strong quickly enough to fight with the Ming army. For military, he forced Vietnamese men to join the army, which was up to 1,000,000 soldiers. He ordered building battle ships, cannons, constructing citadels, digging battle canals ... etc. Vietnam was turning to an early state of industrialization somehow like what Japan did in Meiji era 300 hundreds years later then.
The most important thing was that for economy, he printed paper money.
Of course, the Vietnamese farmers did not like the way of changing to vigorously. They hated him, they hated the Ho Dynasty. And most of all, they could not accept paper money. They were used to silver and gold and metal coins for thousands of years.
Therefore, Ho Dynasty lost the country to Ming Army because people did not follow their leadership.
The history story above is illustrated excellently in this animation.
https://www.youtube.com/watch?v=_8IJ9bvnitY
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Anyway, what did I think through that history lesson ?
1/ The out-of-dates will always resist the new change. No matter the new is innovated and revolutionized, it will be always denied by the older generations.
2/ The people's power is the answer for the final result of the history. Ho Dynasty did have a powerful military and talented scholars. But they did not have the support of the people. So they lost.
3/ Revolution and evolution, which is better than the old time, soon or later will win the struggle. It can fail in short-term, but it is a certainty of new change in long-term.
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What can we apply this lesson to Cryptocurrency ?
The governments have successfully educated their people to forget about gold-bullion standard . These days, they can print their money without limitation. This led the society to corruptions in all kinds of forms.
Decentralized finance is an evolution to replace for the centralized finance controlled by banks and governments.
Decentralized Finance or Cryptocurrencies bring the world to democratic and genuine economy where Demand-Supply is the rule of movement.
So surely to protect their benefit, powerful governments and bank institutions will struggle. Cryptocurrencies will not just appear and go to the real life easily without their resistance. But this is the certain trend of the human being and soon or later will be the winner.
We are in the early days of a new era. This is a revolution, not only the story of fintech. Of course, the old will resist the new change. But the more it resists to cryptocurrencies vigorously, the more it is showing its fear and alarms of fading by time.
Cryptocurrency is the best bet that you can gamble with us in this life ! Losing a part of your saving money, or becoming the rich pioneers.
(Sorry for my poor English. English is not my mother tongue.)
In century XIII, Ho Dynasty overthrew the 200-year Tran Dynasty (who defeated Mongolian invasion 3 times). Tran Dynasty's remnants after failing defending turned to ask for help from China's Ming Dynasty. So the Chinese was invading Vietnam.
Ho Quy Ly, the Emperor of Ho Dynasty was quite aware of that and he prepared all ways to modernize the country so Vietnam could become strong quickly enough to fight with the Ming army. For military, he forced Vietnamese men to join the army, which was up to 1,000,000 soldiers. He ordered building battle ships, cannons, constructing citadels, digging battle canals ... etc. Vietnam was turning to an early state of industrialization somehow like what Japan did in Meiji era 300 hundreds years later then.
The most important thing was that for economy, he printed paper money.
Of course, the Vietnamese farmers did not like the way of changing to vigorously. They hated him, they hated the Ho Dynasty. And most of all, they could not accept paper money. They were used to silver and gold and metal coins for thousands of years.
Therefore, Ho Dynasty lost the country to Ming Army because people did not follow their leadership.
The history story above is illustrated excellently in this animation.
https://www.youtube.com/watch?v=_8IJ9bvnitY
--------------
Anyway, what did I think through that history lesson ?
1/ The out-of-dates will always resist the new change. No matter the new is innovated and revolutionized, it will be always denied by the older generations.
2/ The people's power is the answer for the final result of the history. Ho Dynasty did have a powerful military and talented scholars. But they did not have the support of the people. So they lost.
3/ Revolution and evolution, which is better than the old time, soon or later will win the struggle. It can fail in short-term, but it is a certainty of new change in long-term.
----------------
What can we apply this lesson to Cryptocurrency ?
The governments have successfully educated their people to forget about gold-bullion standard . These days, they can print their money without limitation. This led the society to corruptions in all kinds of forms.
Decentralized finance is an evolution to replace for the centralized finance controlled by banks and governments.
Decentralized Finance or Cryptocurrencies bring the world to democratic and genuine economy where Demand-Supply is the rule of movement.
So surely to protect their benefit, powerful governments and bank institutions will struggle. Cryptocurrencies will not just appear and go to the real life easily without their resistance. But this is the certain trend of the human being and soon or later will be the winner.
We are in the early days of a new era. This is a revolution, not only the story of fintech. Of course, the old will resist the new change. But the more it resists to cryptocurrencies vigorously, the more it is showing its fear and alarms of fading by time.
Cryptocurrency is the best bet that you can gamble with us in this life ! Losing a part of your saving money, or becoming the rich pioneers.
(Sorry for my poor English. English is not my mother tongue.)
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