Good evening all, your’s truly here with your favorite weekly hump day read for “Empire Building Wednesdays” and today we are exploring the new world of Crypto-currencies! Now for those of you living under a rock, you may be surprised to learn that money as you know it today, will be completely obsolete before you know it. That’s right, if you are using paper currencies and coins, dollars, euros etc, you will be more than likely trading it in for fractions of some form of digital currency like “Bitcoin”, for far less in value and unfortunately, a lot sooner than you would think.
I’ve been doing a little bit of research on the subject, particularly “Bitcoin”, and I encourage all of you to do the same as well as spread the word to friends and family to follow suit. From what I have learned, it is only a matter of time so a jump-start can only be a good thing. In mean time however, my thoughts on what I’ve uncovered so far are as follows.
First, I ‘d like to clear up a few mis- understandings. Bitcoin is not a pyramid Scheme! It is form of crypto-currency, basically it is digital money. It is now a global currency that is rapidly spreading across the world. You can purchase anything with bit coin as long as your merchant or retailer accepts it. It is currently out running the rate of inflation which makes it more valuable than the American Dollar!
So apparently “Bit Coin” was created by some anonymous and humble genius that just popped into the digital programmers world under a Japanese alias. He created this new currency system in a way that basically takes the power of currency out of the hands of banks and governments and returns it back to the people. This new currency system was mathematically designed with the help of other programmers and developed collectively over time ultimately resulting in a global peer to peer secure banking network without the actual interference of the banks.
So why is this a good thing? Or is it a good thing? I tell you what, I’m not here to help sway public opinion but instead lead with the intention of just sharing the information I’ve come across. As always the goal is to get you the inside scoop so you can decide for your self. Few things I want you all to keep on your minds on are the main things that gives currency it’s value. How much of it is produced, and how much is in circulation or how many people are using it?
This piece does a really good job explaining the current banking system we use in comparison to the new Bitcoin currency system rapidly sweeping the globe, and how the two affect one another. It explains the pros and cons of both. It also gives great depth and insight of the bit coin system and stages of it’s early development and projections for the future.
Why is this of concern as an entrepreneur? Simple, you can’t use the tools you don’t have! Bitcoin can be used as a financial tool. It can be used to buy different products and services around the world. It is also of higher value than the American dollar which means you can buy more of what you’re already buying with Bitcoin. The rise of Bitcoin has lead to a rise in new companies that sustains it’s development and longevity. But again don’t take my word for it. It’s the end of the evening and most are off work. So once settled in, check out one of the documentary’s I referenced early here. Let me know your thoughts.
There is a lot of interesting and exciting developments since this film was released. Mainly the rise of a bunch of different crypto-currency based businesses. What’s the most current insight on Bitcoin’s impact on the western world? Find out what CNBC had to report on it here.
If you had the chance to add value to your currency by exchanging it sooner than later & lose value by being last to do so, would you take it? If you are interested in more information on how you can do exactly that, comment your email address below. As Entrepreneurs we have to know to realistically manifest our dreams, we have to also fund them. While the goal for most of us is to create a few different streams of income, we have to remember there is enough food in the world for everyone to eat. It just has to be distributed more fairly and evenly, I for one am excited for the promise that the young but growing crypto-currency industry is showing so far in leading the way.
Now there is a lot more information out about Bitcoin now, so again, I encourage all to do your own research into as well. We are shifting into a digital age where, math and formulas take reign. If you’re applying the right formulas in life, manifest becomes more consistent and effortless. As always we hope the little bit of insight we’ve been able to provide has been helpful. It is always our pleasure to help you lay another brick, so with that happy Empire Building Wednesday!