Hit me with your best pro/anti crypto future argument š
Yes it is the future. But u cant guess in what form the disruption will happen. Cant guess who the winners/losers will look like. What time will it take. Bitcoin looks like the most likely winner, but who knows.
It gamble not an investment
Only Ethereum is an investment since itās the only SEC commodity.
I use Bitcoin to buy discount gift cards and Iām getting some amazing deals. But BTC is pretty slow to transfer/pay for stuff. I donāt hold more than $2K of crypto at any time.
Digital currency, like credit cards, are only useful when vendors accept them as a form of payment. If you want to ādecentralizeā, youād be asking vendors to take dozens upon dozens upon dozens of digital currencies. In theory, sure itās possible. In practice, I think it will expand quickly and then quickly contract back towards a centralized model of only a few, powerful, trusted digital currencies.
Cosmos is solving this - interoperable chains and DeFi projects like Compound will dominate the next wave (IMO)
Iām pro-āhandful of the few crypto assets with real value,ā as long as theyāre each of fully decentralized governance š miss me with the Milkcoin pls
A solution in search of a problem
Tell that to David Marcus next time you bump into him at the āBook
I strongly believe Libra will be a player in the DAO world. If Libra actually pulls through govt persecution it will let the laziest of ppl use a stable currency across the entire internet. No reentering credit card numbers, or rechecking back account balances, the currency will follow you across the every site
I hate Libra, everything about it. But yes it or Celo are 100% required to get the laypersonās hands on crypto and the government to work with the space rather than against it
The maximum tx throughput of Libra is 20x lower than a single credit card network's actual average tx rate, not enough to serve all transactions for a single major convenience store chain, and larger than the combined tx throughput of all decentralized cryptocurrencies.
@myimouto Libra is a centralized data-grabbing shitcoin. Solana blockchain, 50k tps. Solutions incoming.
Wrong. Central bankers and governments will never let it happen in any way that reduces their power.
Letās be clear, the endlessly printed dollar is here to stay as long as the US remains the dominant military power. The point is more options and opportunities to redistribute wealth
Decentralized finance sounds fun until the next financial crisis and nobody can increase the money supply because thereās no central bank. Then the world plunges into the greatest depression.
Government-issued currencies will never die, but taking a Hayek POV, thereās a lot to be desired from central banking systems and their inflation practices, and competing currencies and financial systems can force them to improve while providing previously unavailable opportunities for wealth redistribution.
I hope it is the future. As of now I'm at a huge loss. (Bought into Bitcoin at $17k š)
Hands of steel, I think (hope) youāll have it all back and then some in about a year š„ŗ
lol keep Hodling. Weāll get there