I really agree with this, and see it as our #NOW;
Yet, we in crypto are impatient and most of us don't actually believe much in the future of crypto, evidenced by how willing we are to sell it to the likes of celebrities for fiat. At the end of the day, most crypto holders don't actually want to live off of crypto, they want to use the crypto they have and get to buy fiat and live off of that instead. Essentially, they aren't actually opting into crypto - they are getting in and exiting when they can or must, which is why so many still see it as Ponzi scheme.
I also agree that while people discount this because El Salvador isn’t a rich prosperous country, it is still historic. It is similar to what happened in Venezuela when their President made the Venezuelan Peso legal tender for all purchases, and he even provided machines for all merchants to speed up adoption.
This is why the move by El Salvador to potentially make Bitcoin legal tender is such a big move, as it brings legitimacy to the token as a currency and allows people to Stay in crypto whilst still using it. This is a mammoth event and once there is an increase in seamless interoperability across many chains, many cryptos will act as currencies without ever having to touch the legacy economy. Not only this, once this becomes the norm, businesses will increasingly build onto the blockchains and generate value and wealth, that will never directly touch the legacy economy either.
Your final premise is a very accurate transition statement for the crypto movement to go forward. People need financial education. Learning about and understanding why cryptocurrency is so great requires you to learn why the old system isn’t great.
The other thing that this all brings to the table is that unlike the normal consumer trash that grabs the attention of so many people these days - the new products and entertainments are economic teachers, introducing concepts and practice that many people have never been exposed to before. Not only this, they will be buying into a society of other buyers, people willing to discuss at length about all kinds of investment considerations. This means that not only will people's ownership increase, so too will their financial literacy. The difference that this can make to the world is immense, but if successful, it is fatal for the economy as we know today.
I enjoyed the post, and Ithink you nailed it.
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The biggest risk to the status quo, is an educated mass.
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Exactly. It's hard to rule educated masses because their knowledge makes the world transparent. Transparency is the enemy of those who make their money off the gullibility and ignorance of others.
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