firstly some 70 percent of people are living well below the poverty line, they are not classified as poverty stricken but they generally owe more in real life liabilities than real tangible assets. I mention 70 percent since this is the figure of people who are basically living pay to pay period.
this is the whole point of tarp loans and similar programs in some other nations, the government is simply propping up the economy to delay people from walking away from their mortatages. underwater loans and inflation and less than 1 percent returns on savings accounts are here to stay right up to the next recession that is now a few years overdue.
what crypto offers is a different system outside the influence of market manipulators, we have seen a very determined campaign to discredit bitcoin and altcoins and the reality is that no one knows whom owns how much digital money. everyone has an opinion but no one knows , trying to guess how many people are involved in crypto or what their market share is similar to deciding to take a picture of the opposite side of The Moon with your home digital camera = it cannot be done. That is the main point of crypto, to keep marketplace manipulators out of the loop.
traditionally the people who release fiat currency get to decide how much money supply they want in circulation, these manipulators have a very real vested interest in telling lies to prop up their HUMAN-made artificial money supply. But crypto is made by computers who are outside the realm of greed or ego trips. All the major " genuine " cryptos who have existed for a few years have proven records of performance over time.
cryptocurrencies are NOT a controlled deposit, nor centralized, nor a stock option in some real bricks and mortar company. what cryptocurrencies are, is a store of value ( like an asset ) AND a transactional REAL valuable currency. what this means is simple, in the past if you wanted to buy or sell something you had very little option except to sell it in your native money supply. this gave those who issued those local banknotes opportunities to rig the system over time.
not sure ? try going to your local breakfast place and paying for your food meal in silver coins ? it just will not work. did you buy your vehicle or home in physical precious metals ? generally no ! ! ! now you can take your local currency and convert it into an international money ( cryptocurrency ) and buy directly from another country . . .
this means that those who control the local money supply lose much of their marketplace monopoly, it is only to be expected that those key stakeholders will not be tolerant of direct competition... what this means is very convoluted technically dynamic economies are now far more complex, this makes those who are trying to rig the system far more wary and the results are going to be far more unpredictable.
cryptocurrencies are not some shareholders stock option, nor subject to the national currency exchange, nor are they like physical precious metals; nor like real estate. thus making such comparisons just stupid in the extreme ! ! !
cryptocurrencies like bitcoin and the other real proven performers will ultimately destroy these traditional marketplace manipulators by their proven performance over time. once these liars and ignorant fools have expended their uninformed negative opinions and proven to their propaganda lackeys they are truly clueless then their voices will slowly be dismissed and crypto can start its climb toward its place as a genuine international money supply.
what i want is an option to use whatever reasonable money i canto transact a goods or service, preferably outside the marketplace manipulation of greedy individuals ! ! ! now i can buy things from other countries and not have to convert my local currency via a lengthy process in time delays often associated with the principle of a " fee for every step in the process " and crypto gives me that option . . .
those against such an open unmonitored system fall into a few diverse groups :
those who are heavily reliant on the traditional money supply system,
those who have over invested into a highly volatile new technology ;
( NEVER risk more than you can afford to lose ! ! ! ) ;
those who think those in positions of power actually know or understand what they are doing ,
[ fanatical people are best avoided, this included all fanatics like religious or political fanatics ] !
those who have little tolerance for risk ,
{ investing in crypto-currencies is not for those who want to see a solid reliable gain on investment } ! ! !
[ eg. some nine weeks ago bitcoin hit over 19,000 US$ and recently plummeted to under eight thousand USD ! ] ,
you can see that this is high risk, high reward territory and those who are trying to maintain a stable money supply now have a far higher duty of care and consideration to evaluate such unforeseeable and unpredictable events.
the main reason to be involved in cryptocurrency is the blockchain technology, a system that is designed to be open and transparent and accountable and especially DE-centralized ! ! !
the traditional system of centralized market manipulation and rigging of the system but the few against the interests of the majority is why cryptocurrencies have prospered.
my advice is simple, avoid iCO's as most are scams or get rich quick schemes. follow altcoins that have a proven over time track record of real life performance ! ! !
do not listen to the doom and gloom forecasters , use your common-sense and due diligence to investigate rumor from potential fact.
if you do not wish or cannot follow this advice ; then here are my three bits of advice :
do not participate ,
buy any of the main alt coins and avoid unknown altcoins or promised get rich quick schemes via airdrop or free altcoins or iCO's ,
buy only what you can afford to lose and HODL = Hang On for Dear Life ; after all , following the traditional money / investment supply systems is likely a proven recipe for poverty over time ! ! !
Good luck and happy investing in crypto and make sure everywhere you go you become an ambassador for cryptocurrency . . .
only by advertising our decentralized product will be speed up market place saturation ...
/ Hugz ;)
...
I read an article today that said "last year was the year of ignoring it, this year will be the year of debating it, next year will be the year of accepting it." I think that oversimplifies things a bit but the gist of that statement is accurate. When something new comes along, there are stages as it goes from early adopters to mainstream to a point when even the laggards (people who would be using rotary phones if they still sold them) get onboard. In the meantime there will be turmoil.
the year is 2018, i myself am well over 50 years old ( or young ) and many of my older siblings do not use computers nor email nor social media. simply they have never seemed to add this techno-krud into their lives.
so it will not be any time soon for crypto gaining acceptance LoL :)
today i think most are into cryptocurrency for one of three basic reasons :
technojunkies ,
decentralization zealots ,
get rich quick dreamers ...
but i did like your post as you said " i think tat is oversimplying things a bit ", the reason i liked that comment was the huge advances in technology research that spawns from events each new little discovery surrounding cryptocurrency.
what you tell people as cutting edge in crypto research takes a long time to explain and prove and validate to their understanding. then 9 weeks later something new a revolutionary throws confusion with new research.
thus anything people thought they understood about digital money gets convoluted and perverted by scammers and investors alike for Hype and FuD ...
welcome to the decade of crypto turmoil ! ! !
/ Hugz ;)
I feel like Smeigle with my bitcoins right now, I don't ever want to part ways :)
i think the lightning network is going to significantly change / upgrade bitcoin ! ! !
crypto has a bright future ; imho . . .
/ Hugz ;)
u R followed ...