Everyone has an opinion, but how is that opinion formed? That is one reason why there are so many trust issues within our own company.
I would say a lack of involvement for one, a lack of understanding for another, and listening to the Nay-Sayers as a big part of why people fear the next age of economics and finance. If you study the Internet on the subject, then cryptocurrencies would make a lot more sense, with nothing more than an old definition to explain it.
But we will get to that.
How many countries are there? The number of total independent countries is more than 195, along with dozens of dependent territories. The number of currencies is lesser because some countries use the foreign Currency of others, as they do not have their own money.
How many actual currencies are there in the world? The United Nations recognizes about 180 monetary systems circulating the globe. Most money used to have some form of asset or standard (such as gold) behind their money or considered worthless. Most nations’ possible worth, such as the GDP (Gross domestic product ) and world standing, value their money system. Another reason why every country doesn’t have its Currency is the cost of maintaining this constant stable money supply.
Have you ever asked yourself why the English Pound is currently the oldest form of money? The Pound’s value compared against other funds like the U.S. Dollar, Canadian, or Australian rather than backed by something of value? So speculation is a big part of what values your money and allows you to buy more or less with it from time to time.
How many cryptocurrencies are there in the world? By CoinMarketCap, the total number of cryptocurrencies is 6,955, with a total market cap of $325 billion, as of September 9, 2020. But, Coinlore says it is a total of 4,621 cryptocurrencies.
Satoshi’s blockchain has been around for over 11 years now, and there are 6,954 alternative cryptocurrencies (altcoins) of the BTC (Bitcoin). Yes, anything that is not a Bitcoin is an alternate coin.
Why does the sheer number of cryptocurrencies worry you, yet 189 different currencies in the world for at least the last 40 years do not bother you? There is nothing to worry about in this new finance system, for it is safer by far. So far, the primary power players can not find a way to take control like they did the world’s banking systems.
So what is Currency exactly.”
Webster’s 1828 Dictionary explains:
1. Literally, flowing, running, or passing; a continued or uninterrupted course, like that of a stream; as the Currency of time.
2. A continued course in public opinion, belief, or reception; a passing from person to person, or from age to age; a report has had a long or general currency.
3. A continual passing from hand to hand, as coin or bills of credit; circulation; as the Currency of cents, or English crowns; the currency of bank bills or treasury notes.
4. Fluency; readiness of utterance; but in this sense, we generally use fluency.
5. General estimation; the rate at which any thing is generally valued.
He takes the greatness of kingdoms according to their bulk and Currency, and not after intrinsic value.
6. That which is current or in circulation, as a medium of trade. The word may be applied to coins or bills issued by the authority. It is often applied to banknotes, and notes issued by the government.”
Noah Webster’s 1828 Dictionary — Ellen G. White Writings.
I find it interesting that all Currency is just a measure of value for time, work, or even opinion. Definition #5 of Webster’s definition shows us money is nothing more than a way to put an amount on anything else, so others can understand it’s intrinsic value. Everything has some value, and all one has to do is realize if someone else has that same opinion or not and is willing to pay for it.
While we are at it, a short definition for ‘Fiat’ as well. “By definition, fiat money is a currency that does not have any intrinsic value as it is not backed by a physical commodity and is usually made of a worthless or low-value material (such as a small piece of paper). … Even so, fiat money is widely accepted as a means of payment.”
Fiat | Binance Academy.
For those who are following or partners with Compumatrix, Independent Business Owners, what is the objective? To produce avenues of spendable revenues, with a group that is willing to help and to guide.
Henry James Banayat had a vision and a heart with great compassion for others and their plight in life to make a living. Henry envisioned people using their various talents online to make more than they could at their regular jobs. His article gives an excellent insight into why cryptocurrency will work. They meet the same definition of what work and reward systems are all about in what many call the real world. Do you not get paid for work, for thoughts such as a newspaper article or magazine article?
I found Henry’s blog very informative; “From Virtual Currency to Cryptocurrency.” But, I still had to search and ask questions above my head, so I asked basic questions like we are doing here.
As for our business here at Compumatrix, time is also a valued margin, as indicated in Webster’s definition. And being patient to get a reward may not always be easy, but it makes the result so much sweeter and long term. Long term goals are the product of a wise society and why the English Pound is still working.
Ever heard the story of Job? A wealthy man who had worked his life to gain much wealth, he had seven sons and three daughters and lived rightly every day of his life. The devil was allowed to try Job and took all that Job had, starting with his kids, then all of his wealth, and left him sick and ailing. Job never gave up and stayed close to God and what is right by others, such as his friends. After a time, Job earned all that he had lost, seven sons and three daughters, and even gained more than before. But, Job believed in God and had the patience to stay with the plan and do what is right. Which folks are known as: ‘The Patience of Job.”
Based on the value of all other currencies in the world, we will grow; we will be seen as any other vital system. Compumatrix will keep moving forward using the BTC and Bitshares platform to compete, allowing members to earn according to the amount of work they wish to put into their business.
This change in your life could be your greatest life boost ever! So why fret?