We are seeing things changing. There was an article circulating about how Bitcoin did more in trasnaction value than Paypal. This is a piece written on a Bitcoin maximalist site. The real deal is that this is an apple and organes comparison. Bitcoin is being traded, not used fo pay for products or services.
In this video I discuss how we can all start to bleed the establishment dry. It happens one unit at a time, one dollar, EURO or transaction moving from their system to the alternative.
▶️ 3Speak
I think the current financial system would freak out if they couldn't get the management fees in the stock market. Obviously there is plenty of fraud over there because you just need to look at those pension funds to see how bad they preformed compared to ETFs.
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Yeah they will. Think about it, they already lost the trading fees since we now can make trades at zero cost.
So Wall Street was hit on that end.
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Yea we have to give robinhood a thumbs up for making that change. I wonder if the order flow way of making money is going out as well.
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Bitcoin is significantly outperforming in the current period and all we want is to continue this performance.
For PayPal and others, all of these payment methods will fade over time.
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I agree. They are just rent seekers. We need to eliminate them.
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Great video my friend you are super informed thank you so much for the great content keep it up bro:)
Summary:
Task discusses an article highlighting the value of Bitcoin transactions surpassing those of PayPal but emphasizes the differences between the two systems. He explains that Bitcoin transactions are primarily for trading, not goods and services like traditional payment systems. Task advocates for bleeding the traditional financial system by gradually shifting to cryptocurrency transactions. He envisions a future where cryptocurrency dominates transactions, impacting traditional financial institutions. Task acknowledges the challenge in shifting the balance of power but sees potential with DeFi, NFTs, and DAOs. He stresses the importance of increasing activity, involvement, and growth in the crypto space gradually. Task believes that continual progress and increasing participation in cryptocurrency can lead to significant market changes.
Detailed Article:
Task starts by addressing an article discussing the value of Bitcoin transactions exceeding those of PayPal. He expresses skepticism about comparing Bitcoin to traditional payment systems like PayPal, Visa, and MasterCard, emphasizing that Bitcoin transactions mostly involve trading and not the exchange of goods and services. He argues that trying to equate Bitcoin with existing payment giants is misleading, as Bitcoin is not primarily a payment system but a vehicle for trading and investment.
Task advocates for reducing reliance on traditional financial systems by incrementally shifting towards cryptocurrencies. He suggests that each transaction conducted using cryptocurrencies instead of traditional payment methods contributes to weakening the existing financial infrastructure. By encouraging the use of cryptocurrencies as a form of payment, Task envisions a future where more wealth and transactions flow through the crypto space rather than traditional channels.
Furthermore, Task discusses the potential impact of a mass shift to cryptocurrency, such as liquidating retirement funds into crypto assets, which could disrupt traditional financial markets and institutions significantly. He highlights the importance of educating people to operate independently in the crypto space without relying on traditional financial intermediaries or gatekeepers.
Task acknowledges the monumental task of shifting the balance of power from traditional financial systems to cryptocurrencies, likening the current state to a molehill compared to the mountain that traditional finance represents. Despite the challenges, he sees promise in the growth of DeFi, NFTs, and DAOs, which he believes will play pivotal roles in reshaping the financial landscape.
Task stresses the importance of sustained growth, participation, and activity in the crypto space to drive fundamental changes in the financial sector over time. He emphasizes the need for gradual progress and increased involvement in cryptocurrency to create a substantial impact on traditional financial systems.
In conclusion, Task encourages individuals to contribute to the crypto space by engaging in various activities like trading, arbitrage, and DeFi integration. He envisions a future where cryptocurrencies become more integrated into everyday financial transactions, leading to a significant shift in the balance of power away from traditional financial institutions.