The widespread adoption of something leads to its failure and collapse. Nokia is the best example we can learn from. Nokia ruled the mobile phone industry for years and its phones were available for everyone, from rich people to the downtrodden segment. But today, we hardly see a Nokia phone in the market. Nokia fell victim to its own success and widespread adoption.
The reason why Apple has been doing well for a long time is that its phones aren’t for everyone; only wealthy people can afford Apple devices. The widespread adoption of a company/brand causes its downfall. Since Cryptocurrencies haven’t become so common yet, it’s safe to say that cryptocurrencies still have a long way to go. The crypto industry hasn’t reached its peak point yet. So, the future of cryptocurrencies is bright, and the coming years will be breakout years for the crypto industry.
However, for many, cryptocurrencies aren’t decentralized. Being decentralized means no one can manipulate or take advantage of anything. But we have seen Elon Musk exploiting cryptocurrencies for personal gains. Other billionaires will also follow Elon Musk’s footprints to earn big profits without any effort. Now is the right time to invest in cryptocurrencies as other business tycoons like Elon Musk may be gearing up to earn from cryptocurrencies.
Introduction to Cryptocurrencies
A crypto-currency, cryptocurrency, or crypto is a digital currency aimed at serving as the medium of exchange where coin ownership records are validated and stored in a ledger. Although it’s been more than a decade since Bitcoin was launched, still the majority of people don’t understand how a cryptocurrency works. This is because many people view it as gambling; you can either earn huge or lose everything in the blink of an eye.
James has been a crypto enthusiast for a year. He’s an avid watcher of all the latest developments in the space, and enjoys predicting what will happen next with his favorite coins.
He lives in his hometown of New York City with his wife and two sons. His hobbies include watching movies, playing basketball, and reading about how to survive disasters that may occur from climate change or an asteroid impact!
