There have been many ideas and rumors floating around about the current cryptocurrency Dogecoin. Talk to anyone, and you will find a vast assortment of opinions that surround the popular currency. Your financial people hate it, while the people love it. So, who’s right?
Let’s say for an argument, most cryptocurrency has no place in the world today. We could say that the only real options for cryptocurrency should remain Bitcoin and Ethereum . Well, what does that say about wealth? Every decade or, so there seems to be a shift in advancement and wealth.
If you look at your history books, we see the financial prosperity started with colonization through farming which introduced slavery into the United States around the 1600s. Soon after that, we saw oil and gold. All of this is happening around the same era, which is around the beginning of the railroad. These advancements produced many of the wealthy families we have learned about throughout the years.
In the 1900’s we would see the advancement of communication. I don’t know if any of you are old enough to remember a time when telephone lines were shared by people living in a neighborhood. It was called a party line, and I hated it. It was good for eavesdropping but horrible for keeping conversations private. HEHEHEHE (I felt both sides of the coin!)
Phone bills were something of a nightmare story for my house due to high long-distance bills. Soon cellphones would come and take over the residential phone platform, and landlines would be a thing of the past. Companies that used to deal in selling long-distance cards would soon turn to cellphones which all seemed to have deals that made long-distance calling a little easier. All of these advancements were making someone money.
The common theme is that everything at some point gets an upgrade. You might not like it, but it happens. For those crying about cryptocurrency, stop! I would wager that it is here to stay and that it is just getting started. It looks like we are in another shift when it comes to technology and modernization.
We have all known that things are going to get a little more techie, but instead of fighting the journey, we should welcome it. I am not a financial advisor. I love history! In my opinion, we are taking place in another historical change that will impact the way we manage our financial institutions in the future. Cheer up!