Bitcoin technology through the eyes of average person from third world country
First of all, I don't mean to insult anyone and everything that you read in this article will represent my point of view that might not apply to everyone, because we are not all the same, no matter where we are coming from. Still, there are differencies that we can't look over when we are deciding what, when and how to invest.
Investing is something that every individual will have to do for himself in future. You will not be able to put your capital in the hands of banks, doing nothing, thinking nothing and expecting annual prizes. With blockchain technology winning the "war" against banking system, the banking system will either completely change, vanish but surely decline and with its declining, education concerning investing and taking care of ones capital will be crucial for every individual.
The core of blockchain technology is the philosophy that can be summed in three things - creating, connecting and fairly distributing. Now you are thinking, well we have that already, we create value, we give it to the people, whats wrong with that? How about distribution?
Lets put it like this. Great companies like Google, Facebook and Amazon are creating connections between people around the globe for almost a decade. They are also distributing their product. This distribution is done by the rules of the governments that these companies pay taxes. That's billions. Each and every year, billions of money are taken so the armies, elections, campaigns and all sorts of government levels get a share. That is how you fund a state, you take the money from those who generate it, sit back with your guns. Until?
Well, until this https://www.theguardian.com/business/2017/sep/21/tech-firms-tax-eu-turnover-google-amazon-apple
Until its enough. Until the ones who are creating and connecting decide how they want to distributed their fairly gained profits. Imagine only if company like Google, that accelerated our progress in 10 years 100x times faster than any law governments created in past 2000 years was able to decide in which they want to invest, cutting out the middlemen in grey suits that are dropping huge taxes on their necks.
Don't you find it odd that when EU "found" a way to make Google, Facebook and Amazon pay more tax Bitcoin market goes up 3 times?
Now that we are on the same frequency, lets talk about the real subject since there is no doubt that Bitcoin will succeed, only a doubt if Wall Street and middle game investors will pick up now and bet on it. The idea however, will surpass their will, it will win with or without them. Why?
Third world countries. Like mine. By now, you probably noticed that English is not my first language. Please, accept my apologies if writing in this article doesn't meet the standards.
Back to third world countries and how they can balance and help blockchain.
In country I live in, average person makes around 350 euros a month, something around 400 USD. Bitcoin being in range from 13.5K - 16.5K USD makes it average of 15K, around 40 average salaries in my country. And 3 months ago it was 3.5K USD.
Now you are getting there. It is attractive, making 30 salaries in 3 months, right? Buy a machine, they call it "rig", steal electricity by paying that middleman in grey suit that is working in the county and profit. Piece a cake. So now, in this second wave of Bitcoin, they desperately want to get in getting the FOMO (fear of missing out) effect.
I've read somewhere that making one Bitcoin will cost us average of 1k USD. When you own a machine and mine you get profits, but you will not get 30 average third world country salaries every time. You have to choose, what you will mine and in what you will invest. Average person in third world country is not aware of this.
Bottom line is, while companies like Google are trying to put their earned money in technology by cutting out the middle man, people from third world country see the growth of Bitcoin as opportunity to get rich and get out scheme. But, they are never getting out. Bitcoin simply wont reach the price that will give option to leave with profits.
#bitcoin
people talk about bitcoin but i have not understood