2020 will go down in history as the year that shifted the entire paradigm of the global economic model and sprayed the sobering elixir of disillusionment onto the majority of investors and consumers worldwide.
What we knew as the world of yesterday with its staples of “globalization”, “economic stability”, “solidarity”, “financial accessibility”, “geopolitical dominance” etc. is no more and has proven to be nothing but a phantom, a memory. The seemingly negligible medical factor of a virus has literally erased the long-standing global formula of interdependence overnight and replaced it with an uncertain future.
The global economy is entering a comatose state as entire nations are shutting down not only production facilities but even base public services and shops. The coronavirus and the worldwide pandemic it has bred has placed the planet on quarantine and turned into forbidden fruit the things people used to take for granted.
With the populations of the world’s most economically advanced countries restricted to their homes and forced to watch their economies smolder, the only left to do is wait. Thus, a logical choice arises regarding the sole resource left at the disposal of the people under quarantine – time.
Most of those laid off or placed on leave will opt to enter into a vegetative state, watching series and movies in hopes of riding out the storm and plotting their next career moves in the brave new post-quarantine world. However, wisdom dictates that any free time granted by circumstance should be seen as an opportunity to better one’s position and extract profit from the situation that would seem dire and barren to most.
The financial world we knew is crumbling before our eyes and has shown its utter dependence on the fragile balance of global economic interdependence. As China coughed, the rest of the world was forced to kneel and repeat the “Bless you” mantra. The quarantine has driven the world’s stocks nose down into a crisis unseen since the Great Depression and brought about a financial crisis that is threatening to turn previously assessable sources of funds into an unattainable fantasy for most.
The first direct casualty of the pandemic will be disposable income, thus further aggravating the global economic situation for an unknown period of time. The loss of jobs and a labor market throwback are inevitable along with wage cuts as banks will be unwilling to give out loans to businesses, which will be awakening to a new reality of lower client flows.
The situation is a sobering one that automatically makes one wonder whether there are alternative sources of income. In fact, there have been for years, in the shadows and embraced only by those farsighted enough to anticipate a major global crisis.
The dominant trends of 2020 for the alternative financial industry of cryptocurrencies are making it evident that the mining industry will be a shining example of profitability amidst the darkness of the post-pandemic global economic aftermath.
May 13 will usher in the halving of the Bitcoin network, meaning that the rewards for mining will be halved, as they are every four years. The event will be a cataclysm for the cryptocurrency industry, as it will automatically cleanse the mining market of all those incapable of keeping up with the complexity of calculations. The rule of the survival of the fittest will be employed in full as all miners with outdated equipment will be forced out of the market and the lower level of competition among the remaining mining facilities will reduce the complexity of the network’s mathematical load.
As the complexity of mining decreases, the earnings shared among the remaining miners will increase, boosting demand for both new mining equipment and the remaining supplies of Bitcoins. The same will apply to other mined cryptocurrencies, such as BCH. With an increase in profitability after the halving and the realization of its implications for the chain, the cost of mining equipment will increase, as investors will rush to occupy the alternative financial instruments market.
Numerous analytical sources and financial experts are placing their bets on the growth of rates for Bitcoin, which has matured well enough to behave rationally and predictively on its market in line with historical data and other factors influencing its price. With the US Dollar evidently losing the battle for supremacy on the global stage as the dominant currency in light of the pandemic’s geopolitical fallout and the fact that many countries are resorting to payments in national currencies, new universally accepted payment methods are being adopted worldwide, and Bitcoin is the main one.
The applicability of Bitcoin as a means of payment and value storage has been proven to both consumers and investors. The ability to pay for a pizza anywhere in the world with a digital asset securely stored on a crypto wallet and the heightened volatility of Bitcoin are making it both a practical payment instrument and a coveted investment asset that is yet to reveal its full potential.
Singapore, China, Eastern Europe and other nations embracing Bitcoin and mining as a financial haven will emerge victorious from under the ashes of the global pandemic and will resurrect as the proven hubs of new financial stability.
Economic feasibility and efficiency are the cornerstones of any asset’s worth. Bitcoin is a practical and valuable digital asset of the future that can be bought, sold, and generated via mining. It is the process of mining that will soon become a viable and profitable alternative to begging for loans at bank branches and eking out a meager margin on investments in would-be ideas and dubious companies. Such reputable ecosystems as ECOS (Operator of the Free Economic Zone in Armenia, set up by the Government) can be seen as a long-term and trusted partner in the process of Bitcoin mining. The company is currently offering most modern and beneficial conditions for mining, as well as significant cashback for any equipment purchase.
The package service allows clients to invest into their own equipment and earn Bitcoins daily, paying just for its hosting and not wasting time on maintenance. Clients receive 24/7 access to their accounts and can see the operation of their devices in real time.
Just a few steps are needed:
- The client selects and purchases any ASIC online on mining.ecos.am. All the devices are already available in stock in Armenia.
- The next day after payment, the devices are taken from the warehouse and are installed on ECOS hosting sites in Armenia.
- Clients start getting revenue at once.
- The data center is equipped with the modern containers that will ensure safe operation of the devices
- Clients get 180 days warranty for the equipment which upon request can be shipped to their site.
The current chaos has bred instability in the traditional areas of business. It is thus time to invest this period of uncertainty into new venues, of which cryptocurrencies are but one of the options.
Select ECOS as your advisor and guide.
Link to ECOS: https://cloud.ecos.am