CRYPTOCURRENCY RAGE: HOW WILL CRYPTOCURRENCY EFFECT THE DOLLAR LONG TERM

Gold and Silver Bitcoins

“Move aside U.S. currency.”


the dollar

The dollar is more than just a piece of paper that we use to spend in stores. The dollar is what is keeping this whole engine going. It’s the bank note that is backed by confidence along with our strong gold reserves. But what will happen as the cryptocurrency rage comes into play? Will we see a competitive currency or currencies for the American dollar? Because the well known Bitcoin has gained din popularity along with other cryptocurrencies.

value

The chart below is of the United States dollar compared to the top cryptocurrencies. You can find the cryptocurrency website “HERE.”

don’t panic

Now for all of you that are worried about the cryptocurrency taking over, just look at the graph I made above. This is the market capitalization compared to the American dollar. Don’t be mislead by the hype on television1 Us Bank Note and in newspapers. The cryptocurrency is not the least bit of competition for the dollar. Even though the digital currencies are worth more, the scary aspect of the digital is that it’s not backed by anything. And that if you lose your money, the government has no real reason to aid you in retrieval. So in all, it’s a major gamble.


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