I keep hearing btc and cc will disrupt establsished industries. What exactly is btc and cc in general disrupting and how?
I know little bit about btc but what is cc? Nowadays some big money transfer institution like moneygrams use crypto for their operation. More faster and less fee.
Welcome in and good first question
Bitcoin is traded in dollars and there are Trillions of dollars tied up in bitcoin, which could be doing other things - like investing in industry, paying off debt or pushing GBP up !
At least that is the “theory” of it - the facts are more cmplex (and scarier !) - Bitcoin is proposed as competing “monetary system” and may or may not work eventually. - However a great many people have seen the "money for nothing " system underlying this and have started a plethora of other competing monies !
This is all relatively new (or even OLD ) stuff, depending on your viewpoint.
I expect I have “lost you” already, so if you really want to understand the true nature of money, here is a little book, which will scare you to death !
[Edit - I suppose the main thing it “disrupts” is the nice comfy world of those making huge profits in the traditional way - by charging interest on money created simplly by typing figures onto peoples (or Country’s ) bank balances !
It’s interesting what you say about paying off debt. Bitcoin is quite volatile so I think it’s traded actively. Do you have any stats on this?
Also, I’m not sure whether it’s an alternative monetary system. Right now it seems it’s only complimentary and with such roller coaster ride of price changes, it is likely to stay that way.
I think it is undergoing what Wyckoff described as “Distribution”
“…Mr. Wyckoff saw retail investors getting fleeced repeatedly, and dedicated himself to instructing the public about “the real rules of the game” as played by the large interests, or “smart money,” behind the scenes. In the 1930s he founded a school, which later became the Stock Market Institute. The school’s central offering was a course integrating the concepts that Wyckoff had learned about how to identify large operators’ accumulation and distribution of stock, and how to take positions in harmony with these big players. His time-tested insights are as valid today as when they were first articulated…’”.
http://stockcharts.com/school/doku.php?id=chart_school:market_analysis:the_wyckoff_method
[Edit - I would say that the likelihood is that it is in Phase D at the moment. - you will find that a little above half way down the article. ]
I think it was meant to be an alternative monetary system but the future will show what will happen. The fact that most governments do not have control and that some countries are starting to discuss the idea to remodel their whole monetary system into using cryptos is quite significant. Once successfully done, it could easily be turned into a world trend.