I personally don’t believe that’s the case as do many others for several reasons aside from market volume statistics. For the most part, there is still a vibrant community of cryptocurrency enthusiasts, miners, investors, retailers, and industry influencers that are optimistic about Bitcoin and still believe in the core vision of transforming today’s monetary system to something better for consumers and businesses alike.
Yes, there are some cryptocurrencies that will not survive and that’s to be expected as the crypto markets stabilize. When the dust settles, Bitcoin and a few others will still be there. Case in point, earlier this year, Goldman Sachs finally acknowledged Bitcoin is money and will more than likely be used in emerging countries now, as well as, in the foreseeable future (read full article). In addition, Amazon recently won a patent for data feed marketplace that could include Bitcoin transactions (read full article).
Despite the negative press cryptocurrencies are receiving nowadays on mainstream media channels, there are several countries that have big stakes in Bitcoin and have integrated its usage in their economic plans. Here are some of these countries in no particular order (to name a few):
In case you didn’t know, many of the places mentioned above also have Bitcoin ATM machines which shows cryptocurrency is being taken more seriously than ever before. So while the crypto markets are taking some hits, always keep in mind, this is an evolutionary process and there’s much more positive traction happening behind the scenes.
If you like a good book like I do and want to dive a little deeper into cryptocurrencies, here are a few books I highly recommend reading. These recommended books get into the nuts-n-bolts of blockchain, mining, investing, and so much more. If you do buy one of these books let me know what you think.