I've been reading about wealth equality and it seems the world was much more equal in the 70s. I had improved since the early 20th century and has deteriorated since then. We ought to be living in some sort of utopia by now, but there's still so much suffering in the world due to poverty and greed. I don't know if cryptocurrency can solve that, but there are opportunities for more people to benefit.
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I agree Steevc, - coincidently Ive also been reading similar literature and was quite amazed at the wealth equality in the 70s - seems positively alien today.
I have great belief in Crypto for the future. There does not seem any other constructive ideas on the table and I doubt if the gold standard will return - however apparently there are talks of Putin and China doing it which might explain why they are buying so much gold.
Bitcoin is gradually inching its way into the mind of the mainstream as a solid investment these days - which is why I do not think it will be used as standard currency - but I could be wrong - it has the reputation and is now working faster. Bitcoin it is the cornerstone for all other crypto currencies so I think it is here to stay now. So it is a great investment. Leaving your money in a bank account is just plain daft. You are paying the bank to have your money there.
I think that all these ICOs is creating a bit of a bubble in crypto which is somewhat worrying because we all know what happens to bubbles. Saying that I think the established cryptos will survive, such as steem. Each year that passes with Steemit the more valuable its currency will become. I see Steem as being part of sharing in its growth -as if I had bought shares in facebook or something.
I have a feeling that eventually Govts will create their own cryptocurrency once the realise how well it works. I live in Norway and would you believe the Govt here is talking about creating an "ecoin" - apparently it will work very similar to Monero in that it will be untraceable. This amazed me as usually Govts want to be able to track you. Norwegians like their privacy I think.
Thanks for the comment - cheers!
Governments will never issue an untraceable decentralized cryptocurrency @arthuradamson. Why would they make an infrastructure for something they cannot control? If they issue something “national”, it will be a scam. Banksters has taken over governments, and you can't expect anything good from them.
Well, as I say, an article was released a few months ago - I will see if I can find it and post it on here - I read it carefully and it said that the "Norwegian Govt recognised the need for untraceable crytpocoins that worked like actual coins- Normal "real coins" were as such an so a digital version would work the same.
However, I agree with you, in that I would distrust any Govt or Bank issued crypto for exactly the reasons you give. I think the future of money is in "our" hands if we want it - which I believe we do - because Govts have pretty much fcked the economy up - they are basically incompetent. I would not trust them in that they would put some kind of back door to spy or track. As I say I will see if I can find the article, usually keep these things, I probably have it in my home office some where. Thanks for the comment.
pocketsend:100@arthuradamson, the past always seems better than the problems of today. But we can indeed learn from the past in order to avoid problems tomorrow.
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I agree, but in this case the difference is clearly seen a measurable. There is no question that wealth equality was considerably better..
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Receiving Account: arthuradamson
New sending account balance: 1995297
New receiving account balance: 99
Fee: 1
Steem trxid: a95455d21df4e1605c70f485e1fa5cb201f36a49
Thanks for using POCKET! I am running this confirmer code.