Although Bitcoin has been able to prove it is possible to exchange value without the need for the centralization of money production and validation, cryptocurrencies have a long way to go. Exchanging value freely online is probably the most important achievement since the internet actually came to existence. If you think about it, despite how many other technologies will influence, accelerate and improve the overall quality of living, like AI, VR, AR and machine learning, none can compare with cryptocurrency in terms of basic influence on people’s lives. This is, in a few years everyone will definitely use some sort of cryptocurrency for payments. Why would people still want to hold onto bank accounts that have fees to maintain? I’m not referring to companies or governments; I’m talking about people in general. The influence cryptocurrencies can have in daily things will happen much faster than other technologies, much like the internet. Continue reading Cryptocurrencies and the Distribution of Power in the Age of Google and Facebook
The demand for Cryptocurrencies increased exponentially over the past few months and exchanges have not been able to keep up with the demand. Some exchanges have entirely stopped new user sign-ups. One of the biggest exchanges of them all, Coinbase, has also faced many issues and admitted poor customer experience for verification in a blog post. Here’s a chart compiled by a twitter user showing Coinbase’s growth over the past few years. The chart has not been updated since November 2017 because the company no longer provides the info. But one look at the chart should give you an idea of the demand for Cryptocurrencies in the last quarter of 2017. At its peak, Coinbase was adding 100,000 users a day.