Hi everybody, I'm Crypticat 😸
You all know cats have 9 lives, we don't actually ressurect and come back to wander the earth but we are remarkable at surviving, just like Cryptocurrency. Today I'm going to share 9 lives of Cryptocurrency with you. That is 9 things which have significantly impacted the survival of Cryptocurrency.
The Blockchain. Paws down, the most important thing to cryptocurrency is the blockchain. That's the unalterable ledger where all the transactions and holdings are recorded.
Volatility. These coins are more volatile then cats, the leap up and pounce down. 20 percent plus movements in a day are not uncommon.
Decentralization. Most coins are decentralized and no one owns them, just like cats. They may be guided by a team but a single entity cannot manipulate past transactions or control what people do with their tokens.
Lawlessness. There really aren't any rules for Cryptocurrencies. They transcend boarders and are basically able to do as they please, like you guessed it, me!
Privacy. Ownership can be kept private. You may know which wallet holds the coins but you don't know who owns it. I don't wear a name tag either and my hoomans don't call me crypticat, although it's beginning to stick.
Novelty. Cryptocurrencies are still new and innovating, the vast majority of people don't own them and really have no idea how they work. You probably know about as much about where crpyto currency is going as where I am going.
Variety. There are literally thousands with new ones being created every single day. They're multiplying like stray cats and most have yet to find a home on a major exchange and most won't. Most will probably never be adopted. 😿
Lack of Regulation. Questions arise about taxation and how to classify Cryptocurrency: is it a commodity or a currency? I think it's a hybrid. I'm half Siberian and half Tabby. Most governments have only just begun to talk about how to regulate Cryptos.
Utility. The use cases for blockchain technology is growing daily. Some people think cryptos will be as revolutionary to society as the internet. In just a few years they may be behind nearly every aspect of of our lives. I still don't see how they will benefit cats, but I'm sure there is already some coin which aims to track us or something about us...such a coin will never get under my fur😾
Well there you have it the 9 lives of Cryptocurrency. Sure I've missed a point or three but as you know I'm just a cat. I don't recommend investing in crypto currency but I do recommend looking into it. Have fun and bye for meow. mRrrrrrrrrr....
