In 2010, Laszlo Hanyecz bought two pizzas for $41 worth of Bitcoin. Today, the amount of Bitcoin he spent on that pizza is worth just over $530 million. Bitcoin and other cryptocurrencies are a new up-and-coming form of currency that is gaining traction throughout the world. Cryptocurrencies are now widely beginning to be perceived as a newly viable currency option across the world as an alternative to fiat, with many buyers and sellers offering the option of paying or receiving through these currencies already throughout the US and other countries. People are using cryptocurrencies due to their ability to be an alternative to banks, their function as the world\u2019s first non-inflationary currencies, and due to their ease of accessibility across the world.One main reason why people are putting their money into cryptocurrencies is due to their ability to cut out the economic middle man of the banks. Arguably the main foundational appeal to cryptocurrencies is that you yourself and nobody else holds your wealth. Often throughout economic crises such as the Great Depression or the Stock Market Crash of 2008, banks will have loaned out too much money on credit than the amount that they actually have stored. Thus, when people need to pull their money out during an economic crisis, the banks do not have the money that all of the depositors have trusted them to. More often than not, the bank will then shut down and block people off from accessing their stored wealth, leaving the depositor in an economically helpless situation, with all of the power being in the hands of the banks. Since with Bitcoin and other cryptocurrencies, nobody holds your wealth but you, you cannot be locked out from it, and have access to it despite if there is an economic crisis. There are often\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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