Why do you think cryptocurrency is rising? Look at the world and what's going on! We've got North Korea testing their ICMB capabilities, economies around the globe showing instability and possible showdown in Syria that could escalate tensions between the United States, Russia and Iran.
This is enough to give anyone a headache just thinking about the possibility of WWIII.... Without question! In a lot of ways, we have to find inner peace and trust in God that what is happening will not affect us personally. Having said that, we can't just sit quietly and stick our heads in the sand either.
It's important to understand what the Petrodollar is and how it relates to our economy and your pocket book! So what is it?
According to Investopedia, "The money earned from the sale of oil. The term "petrodollars" was coined when the price of oil rose sharply in the 1970s. It resurfaced in the new millennium, when prices rose once again. Although petrodollars initially referred primarily to money that Middle Eastern countries and members of OPEC received, the definition has broadened in recent years."
Our U.S. Dollar is no longer backed by gold or other precious metals like it was in the early years of our country. Today, the strength of our USD is based upon the petrodollar status and our overall standing in the world. The USD has remained strong because every single country in the world has to trade in USD in order to purchase oil for their country. My friends, with the instability within our world......And should that ever changed?
Let's put it this way........ It could spell DISASTER for the USD.
Nobody knows the future and I sure don't know it either. But when you consider the inflation of our currency and all of the risks like never before, it makes diversification something to take a closer look at. That is why I want to accumulate Steemit because it is a cryptocurrency that is not tied to our current financial or banking system.
I realize that there are hundreds of cryptocurrencies to choose from and there are some good ones out there....But there are also some bad ones, too! Steemit, however, has a platform that gives it strength and stability and that is why the social media aspect of Steemit was a brilliant notion and should not be under-estimated.
When I joined Steemit in March of 2017, it was trading at around 15 cents. Currently, I see it trading at around 37 cents with less than a 250 million coins in circulation. The market cap has already broken 80 million and you don't have the inflation issues due to a limited amount of coins available. It's the basic law of economics of Supply & Demand!
All of this has got me thinking and I can honestly say that I believe Steemit has come along at a time when we may very well need it the most!
If you enjoyed this post and others like it, then feel free to follow me, upvote, resteem and/or comment below...
Thanks for reading!
Good Post
Thank you very much!@sluideain
There is so much stuff going on. I've told my children that if they don't have a strong urge to procreate, not to do it. All my stress in this world is not for my part, but for how anything that happens may affect my 3 children. We are so fixated on war, but at the rate we are destroying our planet, it might be our planet that ends up destroying us. No matter what, we can only be the best we can be, and not contribute to the negativity. Will it be enough, I 'm not sure? I love Steemit, and if the price rises significantly it could change my life. Whether it will help us in the future, who knows. Good post. 😀
Wow, that was very well said! That would be ironic if that ended up being the case. Thank you for your insightful thoughts!@onetree