I read this article the day about a firm trying to get an ETF for bitcoin passed in Europe. You probably have read a lot about ETFs lately as the theory is it will bring in a lot of money into the crypto market. This firm was referring to cryptocurrency as crypto assets as that is what they wanted an ETF for, assets. This got me thinking that a name change could go a long way for cryptocurrency.
First it would stop people from focusing on crypto as money. Yes it could be money and places around the world can accept it for goods but that is not the main appeal of crypto. And crypto has already be accepted as an asset so that is a battle won. It will make crypto easier to explain for investment purposes and give it grounding. People are used to dealing with assets and now they can apply that to their crypto. There is still the issue of it being digital but we are getting to the point where people are used to digital items having value. And when we have games with crypto collectibles in them the term asset works there as well.
I think we are heading to a lot more uses for crypto that fall under asset than currency. Crypto can be a lot of things and with smart contracts things are only going to be more complicated. Any way we can help make it more user-friendly is a plus.
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That's why I think STEEM is better in prospect than other cryptocurrency because it's an asset which can help you even make profit and still keep it valuability
With the growth we have seen over the last year, many people are considering it a new asset class which is really what it is to your point. Some are even breaking the into sectors for platforms and payments among others.
Peoples say tha bitcoin has no future but believe in that. I think that it will be a precious asset.
I wish Crypto Brcome soo famous that I can purchase a cup of coffee from Cryptocurrency @Whatageek
I mind it that steem is better another cryptocurrency. Thanks @ehatageek
I agree. That’s what Steem Power is. It’s not a currency, it’s like a stock, but no single person or group of people controls what happens with it. We all do.
I get what you're saying, but I'm more of a proponent of the free market taking care of this. Either by criticizing it in the comments, and/or by voting on it.
When you're pointing to world news it's important to also point out that the mainstream media does spread a lot of false information too. Either outright lies, half truths, or opinion pieces pretending to be actual news. Just thinking back at the last few years I've seen so many news items later be debunked, on both sides of the political spectrum. No wonder the trust in the mainstream media is at an all time low right now.
No matter which sector, people need to be more sceptical in general. And even take legitimate news sources with a pinch of salt. But that's personal responsibility. True decentralization. The last thing you want is an authority on what's true or not. That can quickly turn into an Orwellian 'ministry of truth'.