The first time I heard about Cryptocurrency was some years ago. I couldn’t tell you how many years ago, maybe six years? Maybe four years? The name itself was strange to me. Evoking imagery of skulls or flowery doubloons etched into what would be a some kind of virtual pirate coin, or maybe a DaVinci Code-type mystery to unravel. At that time Cryptocurrency, as a concept or thing, stuck in my consciousness about as much as my high school Algebra. Something only vaguely real to me and definitely more abstract than concrete. A few years later my aunt, a talented if not quirky artist-turned-life insurance agent, discovered Crypto and through her new found enthusiasm the blurred reality of this new “currency” became a little more clear, a little more real.
Okay, so it's an unregulated form of currency, which, sort of like gold can be mined with the use of powerful computers. I’m still not certain if I got that right.
Fast forward a few years, maybe six? maybe four? Cryptocurrency has skyrocketed with Bitcoin becoming the #1 commodity in Cryptocurrency. Overnight (okay, several years later), early adopters became millionaires. Major companies such as Tesla, overstock.com and others have begun accepting Bitcoin as a legit form of payment. And, unlike any current government-issued currency, a coin can be created by anyone. That is a mind-blowing fact. Create a coin. Market it. Become popular. Bam! Your coin is currency. I'm sure there's more to it than that, right? Anyone. That's the key. Anyone. Let that sink in. We're no longer beholden to the old white dudes with money whom are set in their ways.
Think about it. Currently, there are approximately 180 different currencies throughout the world, each based on their respective countries - old or new. If anyone can create their own coin, would the possibility of creating a new country around this coin happen? Of course, the idea is near impossible, more fiction than plausible. And far more complicated than just simply creating a country out of a newly created currency. Or is it?
Regulation and Society adoption
