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RE: What Problem Does Cryptocurrency Solve?

in LeoFinance • 4 years ago (edited)

It may stop the printing of money without a penalty, but it can’t stop people from being criminals.

I've thought of my friends who always argue with me that btc is a scam or for criminals, as if money is not used for criminal activities too (think Pablo Escobar who burned his money to keep his family warm lol).

People w/ insane lots money/crypto get more powerful. And power corrupts.

I think one thing that crypto solves for me is being able to bring money into another country. I used to have a nomadic life and lost lots of bank cards along the way (it was crazy not being able to get card replacements without returning to my home country). It's not allowed to bring stash of cash into another country (otherwise people will think I'm a criminal lol). So with crypto, the transfer of money from country to country would be easier. Then I have my virtual cards and mobile bank cash app I can use to convert it to fiat of that certain country - or do I make sense here ? 😄

4 years ago in LeoFinance by
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     4 years ago  

    Yes absolutely I get that it facilitates international remittance and it’s faster and cheaper to do and is for sure a use case but you don’t need smart contracts and all this other NFT stuff to do that or even stable coins

    Bitcoin does that just fine! Bitcoin is handling all the functions of money but cryptocurrency tokens just seems like a project waiting to find a problem to solve

    Like what has TRON solved that it’s worth billions?

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     4 years ago  

    but you don’t need smart contracts and all this other NFT stuff to do that or even stable coins

    tbh I still can't get my head wrapped around all these new crypto tech and terms. Just too many other coins right now, too many promises from other crypto projects, it gets confusing for me. It is as if we can't focus on making Bitcoin work or solve everyone's problem first.

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       4 years ago  

      I feel you 100% I’ve gone down the rabbit hole and bothered to go through all these projects and like you said all promise feel good sound nice stuff but it’s added very little for the valuations

      focusing on Bitcoin works for me so that’s where I’ll stay, there’s already so much to learn in Bitcoin alone giving up mental capacity to learn things you never going to use what’s the point

      !LUV

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       4 years ago  

      there’s already so much to learn in Bitcoin alone giving up mental capacity to learn things you never going to use what’s the point

      This is so true!

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