While the world lay astounded by Trump’s win – stock markets crashed and dollar value plummeted, people hedged their money on gold and ‘bitcoins’ ( 1bitcoin=48k Rupees). Crypt-currencies AND Gold? Seriously?
Although the value of Bitcoin came down after some time, the mere fact that people even considered a digital currency as a safe haven itself is a leap.
Interestingly, today, my grandfather was sharing with me how ‘Gaudhan‘ (having cows) was once considered money. It made me wonder how far (for good or bad, depends) we have come in terms of money, from Cows which gave actual value (satisfied hunger) to fiat currencies of today like dollar/ rupee (not backed by physical commodity) to crypt-currencies like Bitcoins/ Ether/ Ripple (which don’t even have physical form). Perhaps, currencies, in lieu of keeping up with growing consumerism are losing their value/ form.
However, things (if at all they sound that way) aren’t all that bad as the technology (Block Chain Tech) behind Bitcoins, if adopted universally has the potential to do greater good. Block chain technology builds transparency and trust into the present day systems by distributing the power (data) among all its users. So, no worries about one’s money either ,as where it goes, what it buys, who it’s with, everything is recorded and distributed (not your money, data).
So, what’s your bet? Trump, Gold, Bitcoins or Cows?