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As you may already know or not, China just published this list of cryptocurrencies that the government has ranked, surprising many people who believe cryptocurrency is banned in China.
1-5: #ETH, #STEEM, #LSK, #NEO, #KMD
6-10: #XLM, #ADA, #IOTA, #XMR, #STRAT
11-15: #QTUM, #BTS, #BTC, #XVG, #WAVES
16-20: #ETC, #XRP, #DASH, #SC, #BCN
21-25：#LTC, #ARK, #ZEC, #NANO, #BCH
26-28: #DCR, #HSR, #XEM
To be fair, cryptocurrencies are a very confusing topic for a lot of people, so it goes without saying, trying to explain crypto to anyone who is not open to learning can be very difficult when describing the nuances of the blockchain to those who don't recognize the intrinsic value or understand the first thing about peer-to-peer transactions.
What people might be able to relate to on the other hand,
a different kind of article I recently came across, that show artist's in Venezuela now resort to using money to make item's like handbags and other kinds of street art to inevitably be sold in Columbia since the value of the currency in Venezuela has basically been flushed down the toilet.
Each purse is made out of 800 Venezuelan bolivar bills, tightly folded and woven together into a large rectangular pocket. Each wallet is made of 200 pieces of Venezuela's increasingly worthless currency. Campos says that the bolivar bills he uses to make one purse couldn't even buy him a large soft drink in Venezuela. In Colombia, he sells his large handbags for around $10 (€8.40), enough to buy a kilo of beef, a loaf of bread, some vegetables and the soda bottle he couldn't cover afford at home.
Over here in North America specifically in the United States there is a law known as 18 USC 333, which proscribes criminal penalties against anyone who “mutilates, cuts, defaces, disfigures, or perforates, or unites or cements together, or does any other thing to any bank bill, draft, note, or other evidence of debt issued by any national banking association" ect... In other words if an artist in the United States of America decided to start using the national currency to make their art, the artist in question might have to deal with consequences under federal law preventing people from defacing money.
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Cryptocurrency can literally go up 10 times to a 100 times in value in a trading cycle, some trading cycles can last as long as about 1.5 - 2 years in some extreme cases. Think of it this way, if I bought a McLaren today with cryptocurrency I had sold to facilitate the transaction to buy the exotic sports car, then after selling my crypto the value went up 10 times over the course of the year, I would be able to have afforded 10 McLaren's if I had waited for my money to mature with my investments.
The value of fiat currency which could not earn interest or value at the same rate as a cryptocurrency means that it is just about pointless holding large sums of fiat, assuming the alternative we are talking about is not investing into any flat out shitcoins as opposed to understanding how to spot valuable technologies, like the ones outline by the Chinese government in their ranking of crypto (as posted above) such as ETH and our beloved STEEM. Assuming Bitcoin is always going to be in a category above any of these other coins and therefore it's in a class of its own then yes I personally feel holding crypto is a better investment myself, I mean just ask the people in Greece and Venezuela if 8 years ago they would have rather had crypto or fiat going forward for the future. I am sure if I ask myself that question, I would have same response as well ;D
Assuming an investor makes the right decision when buying a given cryptocurrency (the key word being assuming) it's hard not to see a cryptocurrency investment doing far better than buying a brand new Lamborghini or McLaren F1, holding art, buying precious metals or any other investment that was traditionally considered safe. Sure these Investments are still considered safe, but if technologies like Steem and Bitcoin are not safe then I don't know what the hell is and I am going to go all-in personally, because I don't want to be making bags out of my paycheck in 15 years when all Industries of the world are being handed off to artificial intelligence and robots for the sake of efficiency and maximum corporate profit margins. I believe it's time to start exercising forward-thinking and recognize what's at stake, since there is finally starting to be enough history in crypto to point back and look at trends and observe that crypto is not a glimmering generality or gimmick, Bitcoin and encrypted cryptocurrency technologies using P2P transactions have far transcended the consciousness of the mass public thanks in part to non stop mass media hype! Bitcoin has emerged as a phenomena driving our planets technological advancements, not to mention I would like to place a special emphasis on the idea that Bitcoin and crypto technologies are now basically driving the hopes and dreams of an entire race of people collectively from all generations, to harmonize values and understanding for the sake of peace. That is how much I believe in crypto like STEEM AND BITCOIN! These photos tell a very real story of what is about to happen in the world, you can decide for your'self!
What do you think is smarter to hold Crypto, gold or Fiat?
When did you first learn about crypto?
Do you think it is too late for new investors to also win in crypto like people did 6 years ago or is there all kinds of room at the top for this thing to explode for anyone who gets in now?
Written by Steem user: Jazmin Million
Based on the solid arguments you bring forth, I’d say holding on to Crypto is the way to go. BTW, I learned about Crypto about 3 months ago now. I think there’s a big chance for newcomers to win at it as long as they’re willing to learn and figure out the best way to invest.
Crypto is far from mainstream and the current prices are the tippytop of the iceberg. The next years are going to be exciting and hopefully I will be finacially independent then :D
Great article, thanks for sharing
What a frikkin' cool article! It is a modern version of the German money being used to start fires during the Second World War! The time of cryptocurrencies is rising quickly and the fiat world will have to take its back seat, if it is to survive anything at all.
Thanks a lot for this post. Upvoted a full 100%, resteemed and shared!
Namaste :)
Couldn't agree more the longer the world continues using or more so abusing the monetary systems we have in place the sooner we'll be wiping our asses with the fiat systems paper denominations crypto will bring us back to where we need to be from a stability standpoint
Max respect! Thanks for the comment <3
My pleasure! It has been sent all over the net by now, thanks again for your work and dedication among us.
Namaste :)
Thanks for the article! It'll be interesting to see whether there's any backlash from various financial regulators around the world.
Crypto will definitely win!
Please this need urgent attention before it get worse.
Read this ++ A whale scammer sighted
https://steemit.com/cryptocurrency/@hayzeed/5hnaht-number-2-ranking-bittrex-is-a-scammer-please-read-this-proof-and-share-with-all-steemians-till-it-reach-steemit-officials
i hodl all crypto gold silver and fiat but my plan is slowly to go all in crypto and a litle bit gold
It's so great to see STEEM as #2! Hopefully this will lead to a price jump!~!
I have this lingering question which no one has answered up until now:
Since we do not hold cash primarily because we expect it will go up in value; we are pre-disposed to spending cash and not HODLing, because as a unit of value, the amount we hold is the amount of value we expect to receive in exchange, as a result of this premise and it's attendant actions, cash and fiat generally undergo faster throughput in the economy.
Now, in the case of cryptocurrencies, most people who have crypto are saving it because of a belief that it will go up in value, and as a result, there is less throug-put and more volatility, which in turn discourages widespread adoption.
My question is what are the things, technologies, new protocols etc that can make cryptocurrency the preferred option for the exchange of values, on its [cryptocurrency's] road to eventually replacing fiat?
excellent and very interesting publication these in locierto the world is given a turn with the crypto everything changes for good and for the technological advance. Congratulations. A correction that I can make is in terms of what they do with money in Venezuela these bags are wrongly made in Colombia specifically Cucuta or Maicao that are border states but in reality are Colombians who make those bags with Venezuelan currency
It is sad that this is what VENEZUELA is destined to be talked about, so beautiful my country full of beautiful things and this is the fucking thing that comes out, it hurts because it is my land but it is a reality we must accept our currency this devalued super
very good information, I am Venezuelan and certainly our currency has lost great value, although I think that despite this should not be used to make handbags and hair bands is improper. I like your post interesting information about the cryptocurrency ;-)
great post! I live in Venezuela and I am living that reality. Paper money is getting worthless day after day, due many factors, but the most important is due the inflactuation, money is used for make purses and headbands because it lost its value. I liked how you explained the great impact of cryptocurrency is making now worldwide and using as an example an event that ocurrs in my country. The crypto is revolution in every sense and it will be so common in the years to come. greetings from Venezuela!!
Maybe it is a nice idea to sell these bags online, i know i’m interested to buy one for my wife
hello @elektrpunkz let me know if I can get one of these purse, and if I found one I let you know.. It is a nice idea but here selling online isn't for everyone. Street artist in general doesn't know how to sell online in Venezuela.
Might be a good idea to learn them how to.
The most unfortunate thing is that it will get worse starting tomorrow.
I loved this post, I like to see that as Venezuelans we know how to characterize the reality that we are living and how it affects us without leaving in the middle as it affects the rest of the world. I really admire your way of idealizing and transmitting this information, as Venezuelan and also dealing with this topic perfectly what is lived. The paper money in this country does not work, the government tries to cover reality with transparent paper and now with the excuse of the petro we can not be more ashamed of the beings that have the reins at the moment and that probably from tomorrow they will hold them more strong. Incredible post! Force
Awesome @jazminmillion we are in the times of crypto. This is the best time to get into it. I'm happy I'm a part of it even if I'm at the early stage. Thanks again @jazminmillion for the publication ☺
I am so glad I run into this post this morning!!! Such good and mind blogging information!
This will really open many people’s eyes, especially my friends! I will have to pass on this information!
Thank you very much! Resteeming!
I am so glad I run into this post this morning!!! Such good and mind blogging information!
This will really open many people’s eyes, especially my friends! I will have to pass on this information!
Thank you very much! Resteeming!
Cheers.
Jazmin, thanks for your effort on writing such great post.
To be precise, I'm gonna write my opinion on the question: "What do you think is smarter to hold Crypto, gold or Fiat?"
These are three different thing from now, till a time crypto changes in its essence.
Fiat money is money
gold is commodity
Crypto is investment option
there was a time, gold was agreed money. If you were talking about paper money issued by a central authority to worth anything, 5000 years ago, people would look at you as wierd as some look now when we talk of cryto!
So it's a matter of time.
Awesome article. I was very happy to Steem at number 2 on the list! But I think it definitely deserves a better score for application!
Also that is a really sad, yet interesting story about Venezuela. Sad to see the hardships people are going through, but amazing to see the peoples' creativity and hard work.
Liked, followed and resteemed! Keep on creating awesome content!
Is very sad what is happening in my country, Venezuela... We are living the worst dictatorship !!!
I am sorry :(
What an article, so true. And the choice of pictures hits the spot. Genius!!
It is a wonderful time to get into crypto in my humble opinion. So many new functions will be effected in life that we still today don't really have any clue how much yet. It's an exciting time, I think people just need to really do as much research as they can and find the most legitimate efforts out there to put your hard earned fiat into. The general public has really no clue at how all of this works and how it could change many things in their lives they didn't even realize possible a few years ago. I personally learned about crypto, in depth, on a nationally syndicated radio show in the US hosted by @bluerocktalk almost six months ago.
Money is just paper, everything evolves. I mean look people used to get information from newspapers and before that, word to mouth. Now all I have to do is pick up my phone. Currency has lost value in many regions, Germany's money was basically worthless at one point too. They had to carry barrels of money just to buy bread because it was so worthless. Everything is going to online. Stores like Gamestop are losing business because most are buying games online. and whens the last time a lot of us have used a cd... Everything evolves the question though is, Is this what it evolves to?
Great article..Why not make art out of fiat. I've seen certain currency used as *wallpaper!!I've collected coins for a long time..
One thing is for certain , they have beauty in design but i think the latest currency style change we just went through in the uk will be the last.
In answer to the question, gold and crypto.....I don't need much fiat anymore I've found ways to use crypto.
@theaverageman I know you are so passionate about this topic, thanks for sharing, I got to this post through you man.
Crypto for me because of its ease of use, all we are waiting for is mass adoption.
I think mass adoption will start once bitcoin will rises above (and stay above) previous ath. When people who jumped in then, start making profits after the dip. It will probably go fast. Especially because they did something about scaling problems.
I think you may be right...Steemit and so Steem could be the way to introduce others into the beauty of crypto..
because of its use case, it is a strong gateway to crypto
Yes there are a few crypto's that have real use..i like to shop privately online so i use monero quite a bit.....
cool, still to touch on privacy coins though
#micscrypt we are on the same page i think...I have used crypto as a way to gain privacy for some time...It has more benefits than just privacy though, no fee's for one..It's a good case eh??
@theaverageman definitely yes
Clearly the current economic system doesn't work for many people, and not only in Venezuela or Greece. You just have to drive around New Jersey to see how mind-blowing the contrasts are. Are some of these people just plain lazy? Well, that's a myth purported by those who never had to work for $50 a day, as a grownup, in America! I personally don't blame anyone who won't work for that money, I can't afford to work for that money - can't afford is the key word here... As for the cryptos, while I'm not sure how much they are a substitute for the money in transnational terms, I know nevertheless this is something that may lift many people from poverty, they just have to pay attention and familiarize themselves with the idea. It is a crypto revolution, and as with every revolution it tears down the existing system which puts an immense amount of roadblocks on the way of getting ahead. The western economic system may have been a progressive one before in terms of elevating people from poverty, but it gets rusted as every system does when we rely on it for too long. Cryptos are outside that system, and they will be attractive for as long as they remain so. The same $50 can make you $5000, as it did for me. And if I had lost that $50, that would be easy to forget too. As for someone losing a million or even ten because of the recent downturn, I wouldn't lose a sleep over that either - first because they will recover given a deal of patience, secondly because the current economic system has taken more than enough care of the millionaires as it is for us the common people to worry about them more than needed.
We say diversification is key. Depending on your age, financial situation, and overall risk tolerance, you'd allocate different percentages of your portfolio to stocks, fiat, gold, and crypto.
Holding all in fiat is missing out on great opportunities and putting all your eggs in one basket. Holding all in crypto is at this stage generally ill-advised and you'd still be putting all your eggs in one basket.
The next world financial crash/crisis is coming sooner or later, and when it happens, there's not telling what will happen to crypto. Will it grow by 100000%? Will it all go down to zero? No one knows.
Here's something that argues this point a bit better: https://steemit.com/bitcoin/@ledger256/do-you-know-when-the-next-market-correction-is-of-course-you-don-t
Good, very good @jazminmillion
i like your post
so, Can I be your friend @jazminmillion
Let me follow your pistingan & resteem your post.
If you do not mind this one, Let me translate your post into Indonesian in my post @razi04
I really like you @jazminmillion
Thank you my friend!
Fucking Legendary article! Thats great info about china, and STEEM :) I personally work everyday just for crypto, because fiat is already dead since people started paying all with cards. I love very much the way you think ,we have simular visions of how the future will be. I got into crypto just last november, would have been a few years before if I ever had spare money to invest it in! I remember litecoin was 3 euro and btc was 120 euro!!
Great post again and now your going to have some crazy posts popping up on your feed because im following!
Edit: I buy agent pur sivler aswell recently, just incase of a solar flare! :P
Really its a great post.... Our world is changing
Excellent post! I heard about crypto-bitcoin in 2009 but I didn't take it serious. This is one of my biggest mistake that I regretted so much. Imagine if I had invested $1 into bitcoin I will be a millionaire today.
I advice people to hodl their Cryptos like never before: ignore all the FUDs about btc and alternate coins, they are simply bad publicity that will eventually add high value to Cryptos.
Presently, I'm 100 percent into digital coins through participating in ICOs, etc. So hodl on to your Cryptos and ignore the FUDs, you will be glad you did.
Lastly, my heart goes out to the Venezuelans, it is a horrible thing that they are forced to convert their currency into mere production materials. But on the bright side of things, I think that idea of using their currency to produce bags, etc is being resourceful.
Nice article! Good for steem, good for us all
I love reading about crypto. I am new to Steemit and just getting to learn about crypto. It is like a whole new world when you start to educate yourself as the majority of people have heard of Bitcoin whether they invest or not. However, there are so many out there once you start to learn about crypto.
What an eye opener! Thank God I am one of the early owners of Steem and Eth and also BTC...and congrats to all of us Crypto people. Thank you @jazminmillion for this wonderful content.
Definitely not too late to get into crypto, including Bitcoin. People saying 10K is too late will kick themselves when they see 100K or 1 mil.
Great article and pics - can you list the sources for your images please?
Google ;p
I searched People in Venezuela use fiat for art,
I asked for large images only ;D
Wow!! Thanks for sharing this @jazminmillion
Except 4, the rest are on my portfolio
Whats even more surprising is the fact that it's a Chinese ranking.
Could this be their strategy to have control?
As usually the best way to dominate its to redirect focus from yourself so you are underestimated as you prepare a firm foundation.
Must follow you for!!! :D
Crypto is the future of the world. It will be next marketing system like money.
You should maybe start comparing the earnings of a bank with the earnings of a crypto host. On top of that crypto has relayed the actual security to the user. Would you trust your bank if they would tell you your money is gone that branch was robbed?
Easy and sweet to read and understand article. Thanks man @jazminmillion
In the future man don't use the mony they uses only crypto. for this reason mony will be unusual think.
Another advantage of crypto of fiat you didn't mention is that some crypto such as NEO pay a divident every month in the form of gas
I was about to leave the same kind of comment...neo is my favourite crypto..Apart from Steem that is....
Great minds think alike!
Thats awesome, i didn't know that. Makes me want to invest more...
@jazminmillion If this is not motivation I don't know what is. Had to resteem.
Zimbabwean dollars should make your list, worthless piece of trash according to friends from there.
I like your analysis. Particularly information about the low value of currency in Venezuela. I just found out from you
It's cool @jazminmillion 🔥🔥🔥
The fact that Bitcoin and Bitshares are down there with the likes of Verge is just down right laughable....China needs to GTFOH with that
Hey! I'm from Venezuela i would be really glad if you check these images that I've made. I made this image with the 3D steemit logo so you can use it in your cryptocurrency posts! here's the link to my post images are clean and completely free! just make sure to upvote! have a nice one!
I love it, I shared this with some Steem Devs ;p
I have same opinion with you !!!
hello there!!!
yeah! cryptos are the future and are the XXI century discovery.
good luck!!! have a great day!!!
I hope crypto is future money in the industrial hustory
We can agree crypto is good, but when it hits globaly and replaces fiat for payment, if it does, we the customers will be in worst podition then now.
When i go to pay with fiat i don't have additional charges, which will be different when crypto takes charge. All those little fees will be on us, the customers.
Great article. I would've expected NEO or BTC first on their list, but I'm not surprised its ETH. Where do you think the market is moving from here?
I bought my first fractional bitcoin in Nov. I don’t think the returns are going to be anywhere near those of the early bitcoin holders from here on. Too many coins out there to spread your fiat on, the odds are against us.
in modern era cryptocurrency is much better and easier than money @jazminmillion
More and more people are aware of Cryptocurrencies and thats how it is going to be in the future. Nice to see Steem in the second place :)