If good money is available with sufficient adoption, the bad money will be in the spotlights immediately. Let the market deal with centralised cryptocurrencies vs decentralised versions.
You are viewing a single comment's thread from:
If good money is available with sufficient adoption, the bad money will be in the spotlights immediately. Let the market deal with centralised cryptocurrencies vs decentralised versions.
But therin lies the problem -
Who determines what is 'good money'?
'The market' = the banks for most people. People on the street don't decide what their currency is worth. The banks and the traders decide.
'The market' is geared to screw over the little guy just like the banks are.
And from the average person's perspective - who are you going to trust with your 'good' money?
the bank you have been with since you were a child and hasn't lost any of your money, or some random startup in another country that has no history.
The average person doesn't care about the blockchain. they care about paying their bills and feeding their families.
If they are going to jump on a blockchain it will be the bank's blockchain and all notions of freedom from the bank will be well gone.
That is no different than the current situation. And here we have Bitcoin cs growing like mad. So what are we missing then if your premise is supposed to be true?
My premise is that 'nothing changes'.
The blockchain is not the key to freedom that it s being hyped up (by some) to be.
At the moment bitcoin etc is going mad - that's true. Who is profiting off this?
Do you not think the banks are raking it in playing the markets?
This stuff is their bread and butter. They are not missing out.
They will cream it and then build their own blockchains and then you will see the battle begin.
I trust it cannot be worse than what we have now.
It can always get worse.
But that doesn't mean it has to or that it will get worse.
I hope it will get better.
I hope that in ten years you can call me up and tell me how wrong I was, and no-one will be happier than me to be so wrong. :-)