Cryptocurrency and Gold | Why Cryptocurrencies Will Be Future Gold

In my previous article, I mentioned the similar features of gold and crypto money. 

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Cryptocurrency And Gold

Let's first recall these features mentioned the previous post briefly:

1-Not to lose its value

2-Requires a great deal of effort

3-Limited availability

Crypto coins are released to the market in a limited number. As an example, it has been announced that Exen Coin, which is new and introduced to the market in 2018, will have only 15 million.

I said that gold was used as a material which carries values by the pharaohs and was mined by slaves. The concept of 'coin mining' comes from here. Extracting and obtaining a coin also requires great effort and investment, just as it is difficult to extract and process gold.

The only difference here is:

Using computer systems as slaves, not people anymore.

Just as Pharaohs could hold this important mine in that period, today, 90% of the coins are in the hands of big investors who can mine coins. We can also have a coin from the market, if we have a large amount of money, of course, only as much as the big investors allow and release!

Nowadays, since money replaces religious beliefs, the concept of God, it will not be wrong to position money owners as pharaohs in this symbolism.

Now you can say, "It's not like that to me." However, money, which is the most important function of religion or which should be the direction of 'leading the life of societies', has now taken over. None of us can deny it.

Money, not God's commands, determines our important choices in our lives.

Actually, how much does it look like when it comes to thinking? Isn't it cryptocurrencies... It is not material, trades via an electronic wallet. Also, transactions can be controlled by all members and it is more open to be controlled by an algorithm. These are differences between them. 

Cryptocurrencies are already thought to replace gold, not paper money.

As you know, the paper money we use now is not actually money. Until now, 100 years ago, they were only a 'loan for gold' debt issued by banks. After this use became very common in the market, that is, after bankers and private banks bought gold and distributed debt securities to the public, the states established central banks from the late 19th century to prevent this confusion. Central banks have also collected debt securities that different bankers or private banks distributed in exchange for gold and distributed their own dominant debt securities in gold. In other words, single debt securities are provided via central banks. Because at that time 6000 different types of gold debt types were in the hands of the public on the US territory. This is a big mess for the trade.

After World War I, 1944 Bretton Woods Decisions and 1971 Nixon Shock processes, the paper money, which was printed by the central banks in accordance with the amount of gold, was cut off relation with gold. In other words, while the states could print as much money as their gold, they gained the authority to print unlimited money. With the replacement of the gold-equivalent system of the Petro-dollar System, the US dollar became the reserve currency of the world.

Paper money is not money, as we will understand. Real money has been gold throughout history. Cryptocurrencies are expected to replace gold, not paper money. 

Let's see, can crypto coins replace gold, which has been used as a value protection tool for the last 5000 years and has not lost this quality against paper money for the last 100 years?

You can read the post in which I explain why you should sing up Medium to make money in detail in this link.

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