You are viewing a single comment's thread from:

RE: Cryptocurrency Has To Understand About Building

in LeoFinance12 days ago (edited)

People are amazed by the idea of independence from the current system of banking. I'd bet that deep down that's such a powerful idea, it's been driving nearly every motion in the space since the inception of the fundamental ideas behind the Bitcoin Whitepaper. Those ideas are so old, they are going back to before the 2000s.

Thinking about Ludwig von Mises, with whom I disagree a lot, he might be right about the fact that there's no global warfare without FIAT money because it's too expensive to keep up in a different money system. The solution might be crypto, but a market price is a form of true information. It's hopeful if it goes up and depressing while it dips down. I'm not foolish enough to ignore the reality of the global financing systems, but I'm hopeful enough to imagine that one day decentralized cryptocurrencies are part of the solution to bring us to the age of abundance. We need the prices to keep going up for that to happen - a lot up, that's very obvious to me. I would set the key moment to when BTC hits 500k, that'll be the dawn of an unstoppable motion.

Right now with the current price levels, the TOP300 Coins are smaller than 50% of APPLE alone. That's bad news absolutely independent of the level of the technology that's out there.

Crypto is most importantly a community project to me. A global community of technologically adverse people started to reinvent the financial fundamentals. But FINTEC is also a booming sector and people have a tendency to become more obedient the more fat they become, which could let modern FINTEC win a lot of battles out there.

We'll see, we'll see, but we need a strong evaluation of our crypto projects as much as we need the tech itself.

Sort:  

The problem with people such as von Mises is that his writings and research was done before the Eurodollar system was really known. Plus most economists are not truly immersed in the study of the entire banking system, including the shadows.

So they miss a lot. FIAT is an easy thing to attack but the reality is private bank money dwarfs what is done in fiat. When you look at the Repo markets and international banking system you realize how large it truly is.

The great thing is that it is a system based upon Ledger technology. Cryptocurrency is tied to blockchain, Distributed Ledger Technology. There is a huge opportunity there.

Posted Using LeoFinance Beta

The Madness of private transactions inside highly manipulated markets is the real problem. People work all year to earn 100k, which is 50% taxes and other loan costs. While wives of moguls who have access to old wealth turn a single watch on Easter Sunday for the same profit - 50k up the market. If you're not in the club, you won't be allowed to buy it in the first place and you could not afford to do so anyway.

That kind of madness needs to be confronted, banks are not the only players who leverage imbalanced powers. The FIAT system itself is rotten to the core and creates those pockets overtime everywhere it goes. Not overnight, but slowly and not by accident. We need to create the ability to embrace higher instability and build opportunities for parallel economies, competing economic systems which keep each other loyal to the task of providing money to the 'marks' - to the companies and people eventually.

... well at least that is one way to look at it. But what do I know?!