Up until the advent of digital currency (2008-2010), our only choice was fiat currency & before then commodity-based currency. Until 1931 all coins were minted from precious metals such as gold & silver so had intrinsic value. The Great Depression resulted in the American dollar not being tied to the value of gold as it was deemed too unstable so we had the advent of fiat currency. Fiat money is not backed by any commodity but just the promise from your government & bank. Just look at any banknote in your wallet or purse & you will find these words “I promise to pay the bearer on demand the sum of… “. The whole system is based on the collective trust of all parties & every transaction has to go through a central bank. With digital currency, there is a limited number of digital coins which means that its value is not based on inflation or the global economy. The value is based on utility & investment.
Because the fiat system is not based on anything of value governments & banks can literally print more money when there is a financial crisis thus we have hyperinflation & even collapsing, devalued currency. Remember the global financial collapse in 2008. It is no coincidence that shortly after we have the birth of a fiscal revolution, digital/cryptocurrency! Another downfall of fiat currency transactions is that they are very slow & expensive. It still takes 24-48 hours for a bank transfer even though all the banks have agreed to pretend it is a quick transaction. Digital currency transactions are becoming faster all the time now being reduced to seconds & fees are down to pennies & fractions of a penny.
“CRYPTOCURRENCY WILL ACCELERATE WHAT WILL BE THE BIGGEST SOCIAL IMPACT CHANGE OF OUR LIFETIMES”
There are now nearly 18,000 cryptocurrencies in existence. While many of these have little trading volume there are many which are enjoying immense popularity among dedicated communities & investors. Most noteworthy is the number of governments & big central banks which are investing billions into this technology.
In the past financial institutions & governments only had access to early fantastic investment opportunities where 10X, 100X or even 1000X yields were the status quo. It was only after these institutions pocketed these enormous returns that the crumbs were offered to the general public at much reduced or even negative returns. We can now buy fractions of a digital coin which is stored on a blockchain ledger where every transaction is stored & confirmed. There are tens of thousands of blocks in a blockchain (which is growing all the time) so no transaction can be duplicated or fraudulent.
There are numerous exciting areas of utility with digital currency, one of those areas is in developing countries where the governments & banks are not stable & where it is restricted to have a bank account. The only requirements for digital currency are a smartphone & access to the Internet. The number of smartphone subscriptions worldwide today surpasses 6 billion. The highest users are China, India & the United States.
We are all intrinsically connected with modern technology & the Information age no matter where we’re from. East to West, developed or developing countries, the new age of humanity has embraced the digital revolution even at a cultural level. We have all embraced modern technology in every facet of our lives, from business, financial, government, medical, think tanks, personal, social & beyond! With the power of quantum computing all the way to space exploration, with the potential colonisation of other planets & beyond! This is not science fiction anymore but reality in the making, just look what the billionaires & visionaries of our times are already achieving!
The Internet is still growing by a million users per day globally. The Internet has had the biggest growth year on year than any other technology ever. Digital currency since its inception has been growing at roughly 200% per year. This has never happened before in our history & for the first time ever the investment opportunities are a level playing field for all, where the average man in the street has the same access as the ultra-private memberships of the financial institutions.
DEVELOP THE STRATEGIES AND THE STRATEGIC MINDSET TO GROW YOUR INVESTMENTS & WEALTH IN THE DIGITAL AGE!
All opinions and views expressed or suggested by the Digital Zeitgeist are not necessarily the same opinions and views held by or suggested by GPM-Invest plus any and all partners, affiliates, parties, or third parties of GPM-Invest. Any type of media distributed by GPM-Invest IS NOT financial advice. Please seek advice from a professional financial advisor.