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Crypto

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Avatar for ewyr
Written by   194
5 months ago

Oldies still don't seem to understand....

Crpyto can already replace the entire commerce, internet commerce, banking, and finance systems based on fiat money, and do it all far better. It can also not only already replace, but far exceed the capability of, existing financial instruments and contracts, the lawyers that write them, and the courts that enforce them.

Crypto is

  • free to start using it

  • far more easy and secure to hold than cash, gold or banks

  • is not depreciating in the race to the bottom inflation by central banks

  • increasing in value over time (like a lot!)

  • used with no accounts, no bank, no commerce accounts, no third-parties, no middle persons

  • works 24/7 to any person on the planet with a basic smart phone and basic internet

  • has run 24/7 for 10 years with no issues

  • used in programmable contracts that does away with lawyers and paper contracts

  • essentially zero fee for any amount at any time, no middleman, no exchange rates since it is worldwide

  • scalable to any size or amount, from cents to millions with no change in cost or time

  • processed in online transactions that are completely secure

  • on a system that allows completely automated accounting

  • trivial to process online with no third-parties or accounts, and is native to the internet

  • used in any complexity smart contracts with no lawyers or courts needed to check and enforce it

  • the most significant human advancement since the internet

  • a whole new system of currency that was thought to be impossible before Satoshi released the most remarkable 7000 lines of code ever written

Using national currencies, banks, and international wires is laughable

  • can't have a bank account if you are under 18?!

  • banks close most of the year, are only open maybe 8-4pm, 5 days a week!

  • have to stand in queue, get a number, wait for an ATM!

  • your money debases every month at any rate determined by a central bank secret committee (hence why the 'real median wage' in teh USA has been going down since the 1970s...magically coinciding with 1971 gold shock - teh US international default on all debts due to Vietnam war costs, delinking of gold, and turning USD into pure fiat money

  • national fiat money is nothing except numbers entered on a keyboard and kept in a database. New money is just made with the stoke of a pen, 'lent' by a central bank (via 'brokers' like Goldman Sacks) to banks or government. Then banks charge huge loan fees to business or persons (all this is called 'usary' previously illegal, and still illegal in Islamic law).

  • huge fees, days for a transaction, 3-7 days of manual verification

  • might then be blocked for any unknown reason

  • weixin and alipay can't be used cross country

  • paypal is US controller company, high fees, and has geo-political blocks on funds

  • credit cards drive huge fraud

  • banks and credit cards drive huge identity theft statistics

  • credit cards have no security model - they were designed to create a receipt, have you manually sign the receipt, then have the shopkeeper check the signature against the one on the back of the creidt card! - nobody does that, and online nothing is done!

  • credit cards are predatory to the poor with absurd interest rates

  • credit cards are only available to the rich and can only use in expensive stores ... try asking the roadside food stall to take your credit card!

  • credit cards require your full card details, your address, to give to a seller so they can then enter any amount and pull it from your card!

  • Dangerous since now sellers, desk clarks, all know where you live, what you are buying, how much you have.

This has been going for over 10 years perfectly:

  • send any amount, at any time, 24/7 completely securely to anyone on the planet who has a basic smartphone and basic internet

  • without any middle persons, no bank, no account, no anything

  • with or without escrow

  • with or without time locks

  • used in complex smart contracts with any payment terms far beyond what a lawyer could devise are done

  • smart contracts network enforced in real time in a far better and secure manner than any court or police persons could understand and enforce.

I guess still people just don't know about all this yet???????


It is just a matter of time before this replaces money. Superior technology always wins out in the end. It is simply because something that is far better and far cheaper wins.

The next generation wont even know about banks, credit cards, cash.

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Avatar for ewyr
Written by   194
5 months ago
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Comments

in my place not a lot of people knows about crypto I just hope they can learn about it soon.

$ 0.00
5 months ago

This is really fast growing and it needs a lot more supports. Truly, people may no longer need to use banks and future generations will get into the full use of crypto.

$ 0.00
5 months ago

I agree and I was thinking time might come we will no longer in need of using the usual money. Instead it would always be online wallets/transactions.

Thanks for your generosity always Ewyr.

$ 0.50
5 months ago

Honestly, I even told my mama that there's a big possibility that Crypto will replace the entire commerce, like you said that based on fiat money. Well, knowing that our world are rapidly evolving into more technology-based one, for sure there really is a big possibility for this one to happen.

$ 0.50
5 months ago

This article is completely factual. I believe that the world will soon be more familiar with using crypto than other banks since it is more convenient than banks. Staying at home due to the pandemic allows us to avoid virus exposure by simply using our phones.

$ 0.50
5 months ago

I always think BCH need to have more liquidity in markets.. just like how we use apps to pay readily for products, must happen with crypto too.. Indian markets are not catching on, it's frustrating

$ 0.50
5 months ago

Yes you are right. It's better to have crypto than to had a bank account. The difference was to far, and beside crypto is easy to used that the bank than so many rules and you need to wait the bank to open plus it's Hussle to wait when they are so many people in the bank specially now that has a pandemic. It's very accommodating to used crypto nowadays.

$ 0.50
5 months ago

Very well said my friend and I might as well thank you for your generosity thank you so much. Way back before me and my mom I saw her withdraw to her atm Machine save money into her bank book it's really hassle and all you said Is all considering a very easy way to withdraw or to have money rather than wasting our time falling in a long line. But it was before and it really does help people to grow and here we are smart enough and what you wrote will help people to know it's advantages

$ 0.50
5 months ago

You are my most generous reader! THANK YOU!!!!!!!!!!!

$ 0.00
5 months ago

My friend, it was very interesting to think that the next generation might not know anything about banks, cash and credit cards. I completely agree with what you said. Many banking services, such as paypal accounts, are reserved for the rich, and many weaker countries are not allowed to use them. But digital currencies have eliminated this discrimination and are evolving in the world monetary system. By the way, thank you my friend for upvoting my post, with a high amount. God bless you. You are very generous. Nice to meet you.

$ 0.50
5 months ago

These are the reasons why I like crypto. Sending money is so fast and it doesn't need to stand in a long queue to send, receive or withdraw money. I also like to hold my money in my online wallet than in banks because I know it's more profitable if I hold it in my wallet than in the banks that will only give more or less 5% interest.

$ 0.50
5 months ago

You summarize everything about what we need to know about crypto. Yeah, in the future, next generation wouldn't even know or will just know by the textbook about cash, banks or anything that was last remains of money.

$ 0.25
5 months ago