I'm surprised by this opinion piece in the Guardian about cryptocurrency. They are saying it's all just a bubble and Bitcoin 'is only widely used as a currency in drug deals and for ransom payments'. They liken the mainstream coverage of cryptocurrency to the run-up to the Wall Street Crash of the 20s.
Of course there are lots of scams in the cryptocurrency world and lots of people throwing in money in hope of a quick reward, but this is a real revolution in finance. We could see a transfer of power from the banks to the people. There are risks when you have to manage and protect your own funds. The malware hackers will try every trick to steal it, but this is a great opportunity that should not be so lightly dismissed.
I think those in big finance are scared of this upstart and they will sow FUD (fear, uncertainty, doubt). We have to counteract that.
Steem on!
To say it is "a revolution in finance" - is like to say only small part of the truth.
I am confident saying this "crypto's is a revolution in evolution of the Human kind"
Most significant Ever since the stone age
Disagree but definitely Internet 2.0. Internet as in since www.
Interestingly enough, when you look at Steem(it) and all currently happening pre-SMTs already: we are replicating the Internet.
Another blockchain which is truly revolutionary, and somehow Steem’s only real competitor currently, is blockstack.
Not sure I'd go that far :) It's still new technology and it takes time to see the impact.
When the big media starts to talk badly from something is because that is starting to hurt them...
Keep calm and STEEM ON!
This belongs indeed under Opinion in the Guardian. But let' be honest, it's not like the Guardian has shown any quality tech writing or understanding in last 3-5 years.
And even their occasional tech/Silicon Valley opinion contributors have been rather Meh and more often just waffled rather than added genuine know-how and expert opinion.
I think best was Antonio García Martínez, author of Chaos Monkeys (a fun read btw), was allowed to share his opinion about how more privacy regulations would harm innovation. Which of course is ironic considering he was one of the innovators of the FB advertiser model. facepalm.
I love the Guardian but steer far away from anything tech related they publish.
It is because the only see this as an investment object - if you do so it is maybe right that the bigger fools theory could fit. But what they fail to realize is that this is really a big technological experiment where no company is taking the lead. Buying crypto-currencies is buying technology shares. Risky... yes, of course, but also with a fair chance of earning by being part of a new thing.
An interesting thing I have noticed is that many people regard big companies and other powerful organizations as a safe-keeper of their lives. They feel secure when a logo and a money tank is guarding them. This makes it clear why they have a hard time grasping this anarco-democratic p2p technology.
I don't think we have seen crypto meet anything like its potential for real use. Most of the growth is driven through speculation for now. It's still new technology, so let's give it a chance. I think a lot of the people behind it want to change the world.
Funny detail: in development nations crypto startups are actively invested in by telcos [with startup funds]. Because the unbanked ones.
If telcos decide to invest you know stuff is real. Even more so in development nations where mobile payments/remittances still happens via SMS because for many the telco wallet is the only bank account they have.
Some nations don't have the same banking networks we do and there may be less trust in such corporations. Crypto seems a perfect fit for them
There is so much of this bubble talk and i see a lot of it coming from traditional traders, i think they feel somewhat threatened by blockchain technology.
The opinion piece finishes with:
I'd suggest the Guardian to request a Steem account.
There's a good idea. I do support them with their membership scheme as I think they are a good antidote to most of the British press.
I would donate if they took cryptopayments.
I did blast them on twitter because of that one crypto which may actually set them free of advertising revenue and begging.
It is important to discredit your competition, especially if their ideas are sound. Most of these mainstream rags are tied to the banks and the political establishment in one way or another.
I'd say the Guardian is less so than others, but it seems someone there doesn't really know what they are talking about.
If sure seems that way. Oh, and now I've got "Block - Chain of Fools" playing in my head!
The Gruniad are notoriously badly informed about financial stuff. They have been anti-bitcoin/crypto since the start (search 'bitcoin' & count how many are broadly positive or negative). I think the UK mainstream media in general are doing the population a MASSIVE disservice with almost ZERO coverage of a revolutionary technology (apart from the same old scare tactics). At least the yanks like Bloomberg are covering it seriously.
They are just scaring investors.. you can't really invest in stocks or fonds and securities nowadays because one is just fooled by
Big companies and insiders get the first hand insiders info. Blockchain is moving fast and nobody can't stop it. Other Central Banks are now preparing for the trend. Look at what J. Dimon commented two months ago that Bitcoin is just a bubble.. but in the backgroubd he massively invested in crypto.. so what the heck with these people spreading fake news..
I believe it's just a spin and if they are starting to spin news it means they are frightened and scared..and it sounds good :)
hello please help me
The Guardian is a communist mouthpiece and would not want people to move from fiat and taxation and inflation to the freedom of crypto.
I'm not sure 'communist', but certainly 'collectivist'.
You can say many things about the Guardian, but ... communist?
LOL. Indeed. In all their being progressives the Guardian, and especially its opinion writers, have contributed to gentrification. Which none of them will admit, yet AirBnB was ironically also one f the first native advertising) advertisers.
That at heart they care about the people, and are born with a social (read: healthcare and rights/protection for all) gene, doth not make a communist.
Well the 'Torygraph' seems to agree