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Cryptocurrency was once seen as a revolutionary new way of conducting financial transactions, free from the control of centralized authorities.
However, in recent years, the focus has shifted to speculation and investment, with many people investing in cryptocurrency purely for financial gain.
This trend has left some feeling disappointed, as they believe that cryptocurrency has lost its original purpose.
What was crypto’s purpose?
- To promote financial freedom and privacy by allowing individuals to have control over their own money and transactions.
- To provide a more efficient and cost-effective way to conduct international transactions.
- To offer an alternative to traditional banking systems that are inaccessible to many people around the world.
- To create a decentralized system that operates without a central authority or middleman.
- To help those who dont want to pay tax and hide their money from govt😊.
- To help those who want to hide from govt what they and where they spend their money🤔.
What has crypto become now
- Cryptocurrency has become increasingly popular as an investment opportunity, with many people buying and holding cryptocurrencies in the hope of making a profit.
- Many major institutions and players, such as banks and large corporations, have become involved in the cryptocurrency market, influencing its direction and potentially leading to centralization.
- The original vision of decentralization and democratization has been challenged by the increasing centralization and influence of major players and institutions.
- Some projects are launched with the sole purpose of making a quick profit for the creators, with no intention of developing a useful product or service.
- Almost every day internet influencer or some shady company launching new tokens and coins with no clear purpose or utility, often referred to as “shitcoins” or “memecoins.”😓
In conclusion, cryptocurrency has shifted towards speculation and investment, leading to concerns that its original purpose has been lost.
However, by addressing the challenges facing the market, promoting transparency and accessibility, and continuing to innovate, we can create a cryptocurrency ecosystem that empowers individuals and promotes financial freedom.
But I don’t think that will happen😮💨.
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