Potential

WHAT DOES ‘TO THE MOON’ MEAN?

Cryptocurrency users have their own language and lingo, much like regular stock market traders.
One of the more recognised and utilised terms ‘to the moon and beyond’, describes a best-case performance scenario for specific types of cryptocurrencies, or cryptocurrency as a whole.

The prospect of this strong trend upwards in price is what makes cryptocurrency such an attractive investment for many, and the unknown heights the product is capable of reaching is what retains these investors.

However, though many in the cryptocurrency community use the term, or even describe positive performances as simply ‘mooning’, it can quite often be with ulterior motives, rather than a straight observation.
Another similarity cryptocurrency markets share with the share market is the tendency for investors to attempt to up ramp their stock, exaggerating its performance to build hype.

The lessons cryptocurrency investors and users generally understand and regard as a constant attached to its use now and into the future is misguided hype.
Despite this, many are excited about the prospects of cryptocurrencies going forward believing the concept is ready to breakout of its infancy to become a mainstream applicable standard.

The future: Potential

WHAT DOES CRYPTOCURRENCY’S BLUE-SKY RELY ON?

Most of cryptocurrency’s hype and blue-sky future predictions come on the back of understanding the scope of its revolutionary blockchain technology.
It is likely cryptocurrency’s exponential popularity growth will accelerate as the potential of blockchain technology becomes better known in the mainstream.
For now, at least, most people remain unaware or uneducated to the benefits of cryptocurrency and blockchain technology.

Those in the know understand blockchain technology is already transforming the model of currency, but also the way business is conducted, governments functions and even how people think.
Blockchain has the potential to do away with centralised and controlled fiat currency with a blueprint allowing people to use and transfer funds without the influence of banks and governments.
And while the decentralised elements and security credentials of blockchain technology can be applied to almost anything, cryptocurrency could theoretically do away with the reliance on authority altogether.

Perhaps cryptocurrency’s greatest attribute beyond its function is its relative infancy in programming compared to its potential for long-term establishment and use.

The cryptocurrency concept is still very much in its experimental phase having only been in production and use for a minute time period compared to other established means of trade and currency, like fiat.

New types of cryptocurrencies, tokens and systems providing all sorts of different possibilities are being experimented with, programmed and used all the time.
This allows the potential blockchain-backed platforms of the future to be conceived and programmed sooner rather than later, further unveiling the seemingly endless possibilities of the technology.

WHAT HURDLES DOES CRYPTOCURRENCY STILL FACE?

The current period of experimentation is also vital for the blockchain-based concept of cryptocurrency in ironing out issues potentially holding it back from wider adoption.
Perhaps one of the biggest issues needing to be addressed to better ensure a bigger and brighter future is the issue of scaling, with many cryptocurrencies already becoming victims of their own success.
Bitcoin and Ethereum are cryptocurrency’s two most popular coins which have networks struggling and slowing under the weight transaction request demands.
Waiting relatively long periods of time for a transaction to occur can potentially diminish the novelty and usability of the coins, putting into question the viability of use with real-world applications.
These coins were revolutionary in their programming and can be salvaged when new forms of cryptocurrency utilising new and optimised blockchain concepts like segwit, stablecoins, new PoS concepts and lightning networks solve some inherent issues.

While some teething problems may make cryptocurrency’s world domination a pie-in-the-sky scenario, ‘to the moon’ predictions of a global acceptance of blockchain technology and skyrocketing value may not be so far-fetched.
Naysayers predict the sharp rise in cryptocurrency popularity and use to be followed by an equally drastic decline, but more are beginning to understand the value of the technology cryptocurrency is built upon.
Powerful figures within the long-established banking and financial systems have a vested interest in cryptocurrency’s failure, but those relying on traditional systems without having the benefit of controlling and profiting from it believe cryptocurrency and blockchain technology is a far more equitable and secure way of the future.

FAQ

Will cryptocurrency be the future?
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The lessons cryptocurrency investors and users generally understand and regard as a constant attached to its use now and into the future is misguided hype. Despite this, many are excited about the prospects of cryptocurrencies going forward believing the concept is ready to breakout of its infancy to become a mainstream applicable standard.

Will cryptocurrency replace fiat money?
arrow arrow

Those in the know understand blockchain technology is already transforming the model of currency, but also the way business is conducted, governments function and even how people think. Blockchain has the potential to do away with centralised and controlled fiat currency with a blueprint allowing people to use and transfer funds without the influence of banks and governments.

What will cryptocurrency look like in the future?
arrow arrow

The cryptocurrency concept is still very much in its experimental phase having only been in production and use for a small period of time compared to other established means of trade and currency, like fiat. New types of cryptocurrencies, tokens and systems providing all sorts of different possibilities are being experimented with, programmed and used all the time. This allows the potential blockchain-backed platforms of the future to be conceived and programmed sooner rather than later, further unveiling the seemingly endless possibilities of the technology.

Next step: Market Growth

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