The discovery of the internet marked a stepping stone in the world’s technology. As the internet evolves over time, it creates items that are specific to the internet such as cryptocurrency and its creation in protest to trade regulations that normal currency was subjected to.

New developments in the growth of cryptocurrency, prompted leaders like President Joe Biden to start seeking ways to improve cryptocurrency or start finding ways to incorporate it into the average person’s life. 

As news of these changes start to develop, certain people become more skeptical of it. Isaak Sanders, a College Student majoring in Computer Science and Computer Engineering  “Government regulation of cryptocurrency, in my opinion, goes against what cryptocurrency stands for. It ruins the idea of it having its own space on the internet.”

Not all people share this sentiment on the idea of cryptocurrency becoming slowly regulated or government made.

“I think it’s probably a good thing,” said Bill Cornelius, Sedro-Woolley High School Financial Teacher. “It seems to me that we are ready for a cryptocurrency of some type” Etherium, for example, has been growing in popularity over the last few years.

“Overall if it takes over as the main trade currency, we are going to treat it like we do the American dollar,” said Sanders.

Similar to the American dollar, if the government decides to take on this new cryptocurrency idea and make their own, they run the risk of angering a large demographic of internet users, while pushing to have cryptocurrency in the mainstream.

“With so many different choices out there, I wouldn’t even know where to begin, so having something through the federal government or managed through the federal government would be a good thing.  It might stabilize the value of cryptocurrency,”  Cornelius along with other people share this type of sentiment, it will seemingly be good for the average person, but it won’t be as easy for the government. 

Cryptocurrency was made as a foil to the current regulations, it has been used for dealings across borders to circumvent the financial system that was put in place by multiple governments. 

Many ongoing cryptocurrencies have been used to deal in illicit activities such as purchasing things off of dark web sites such as The Silk Road.

“When I think of cryptocurrency, I think of shady business dealings and unstable prices with how people want to be paid in cryptocurrency,” said Cornelius.

As the popularity of the cryptocurrency grows, people are starting to find new ways to use them. N.F.T’s, non-fungible tokens, are the latest example of using cryptocurrency to buy the ownership of image links or original images. As people become more fluent with the internet around them and teach their children how to use it, they learn and find new ways to innovate faster.

Cornelius says it might take time for the average person to use it, over time as the younger generation is raised using cryptocurrency it will become normal.

 Sanders agreed with this notion that as the younger generations start becoming the elders it becomes more normalized. 

“It is going to be a tough sell until the generations before us understand it or we become the elder generation”