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The World of Economics - Part 5/6

The introduction of Bitcoin was the best way of avoiding intermediaries, such as central banks. It was also one of the best ways of preventing manipulation, such as currency inflation. Bitcoin allowed people all over the world to avoid the storage and security costs of gold. It helped in avoiding the devaluation of the currency and the general reliance on financial institutions that cannot always be trusted. In a way, you can say that we have entered a new age that cannot be unwritten or reversed at all. Satoshi planted a seed by introducing bitcoin, and this seed will continue to blossom for millennia in the coming years. We have entered a new psychological paradigm that has been initiated by Satoshi. This paradigm will not end with him, but we - the people will continue it. Cryptocurrency properties need to be placed according to human wants and needs. Indeed, most cryptocurrencies are actually deflationary. If a currency is deflationary, then that means you cannot simply create more of them. If more people buy cryptocurrency, then their purchasing powers will go up, not down. There is still a lot of time for more people to acquire cryptocurrency. Rapid adoption resembles an S curve. This means that the price of cryptocurrencies will be stabilized once it penetrates the global market. But even as these cryptos increase in value in their uptake phase, more and more people will prefer them over fiat currencies. One of the main reasons why they will choose cryptocurrency over fiat currencies is because fiat currencies have lost their value over time. One of the perks of this is that the rapid adoption of cryptocurrencies could weaken central banking systems used by the masses.


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