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RE: The Biggest Shift In Cryptocurrency In 2022

in LeoFinance3 years ago

I agree that earning crypto rather than speculating with it will grow rapidly. But in order for people to earn crypto, value has to be created equal to the earnings given out. The actual earnings level needs to improve significantly if we are to get to a stage where it is viable for significant numbers of ordinary people to make a living out of crypto (rather than it being aside hustle - sorry, but earing a few cents on a paid platform for a blog post that may take an hour or two to research and write just doesn't cut it). The real question is where that value is coming from.

Some of it will be people and organisations converting fiat to crypto, some of it will be from crypto mining, and some will be for performing economic activity or services which benefit the crypto ecosystem.

But I see a serious risk that large organisations could come in, get people to work for crypto, paying out a small percentage as "earnings" and keeping massive profits for themselves, effectively replicating the fiat economy of lots of wage slaves with a few mega-wealthy holding all the cards.