First of all, it is necessary to say that one should not expect an exact answer, as it is rather difficult to prove or disprove anything in such matters. Not many educated, and more often uneducated, economists and political scientists dare to express categorical criticism, so it would be strange to expect a miracle from an ordinary schoolboy. Why? Just because we are dealing with a phenomenon so new that its ways are unpredictable. The crypto currency is so far only “in becoming”, it is only starting to appear world as a new product of the era of capital, but at the same time it contains many interesting discoveries and developments that will certainly leave a mark on the history of mankind.
In order to understand something in such a complicated issue, the issue should be considered in the only correct way – in its development, from the very beginning and to our days. The emergence of crypto currency became possible only after the processors gained sufficient computing power and became widely available, because the principle of the crypto currency is based precisely on the public, on the masses. Almost immediately it turns out that the crypto currency can be converted into the real world currency – dollars. Such a situation attract hunters of speculative capital, who are eager to make a profit, playing for promotion. As a consequence, there is a demand, which gives rise to a steady growth rate. In sum, all this gives us something that was unimaginable some 30 years ago – something immaterial that is not a use value (that is, it does not possess useful properties), but only an exchange value (the ability to exchange for goods), something that is growing in price with enormous speed.
Can we say that the crypto currency is a financial pyramid? The answer will be too ambiguous – yes and no. But can not other currencies be called a pyramid? For example, the most common world currency is the US dollar. The dollar is being issued at a tremendous rate and does not stop for a minute. The question is natural, why has it not yet depreciated? Just because his course is supported by the extremely aggressive foreign policy of the United States. The oldest and most proven methods – threats, war, murders, the army – the US keeps its currency rate on an unshakable pedestal, forcing the whole world to make settlements and transactions in dollars. Isn't this a pyramid? Indeed, and it successfully exists and enriches the capitalists of America. Sometimes this bubble will burst, but at the moment the illusion of the omnipotence of the dollar is too firmly entrenched in the minds of the masses. As for the crypto currency, this “pyramid” is held, first of all, thanks to people who believe that it is able to enrich them, and therefore they buy it. So, everything is based on the people's confidence, on readiness to take risks, but it's worthwhile to say loud enough that “there” is no more money, as the money will really disappear.
But one aspect of the crypto currency is worthy to enter into our future – the openness of information. This moment can be compared with such popular, illegal way of exchanging information like torrents. All users download information not from special servers that belong to someone, and, therefore, will sell the information, but directly from each other. Thus, the most open information system is created, where all information is available to everyone – the free information field. In the case of crypto currency, the guarantor of the transaction is its openness. Everyone knows that there was a deal, it does not matter between whom, the main thing is the existence of the transaction. This brings us back to the time when people lived in small communities where everyone knew each other and therefore they were not afraid to exchange, because everyone knew about the exchange at once, and that was the best insurance against fraud. The community has become bigger, which means that the speaker announcing the deal should become louder – the Internet became this mouthpiece. As a result, we have an open system of transactions, excluding fictitious transactions, fraud, forgery of any kind. Approaching the very essence of justice.
In conclusion, it should be said that not particular individuals, and not particular groups of individuals, but the maturing situation itself dictates the emergence of new phenomena. As G. W. F. Hegel accurately defined, “when all the conditions of a fact are present, it enters into Existence.” Mankind came to the point when all conditions were created for a new form of financial relations, and so these new relations entered into existence.
