Yes statements like the one you mentioned here from this person" On discord someone brought up the point that we do not want people from the lower economic countries because all they do is take their earnings and sell them on the open market"
To me that shows a great ignorance to how value transfer works. We keep forgetting its not that actual digits on a screen that make you rich or determine your value. It's the actual resources.. skills and labor.
So in the West or richer nations. We treat crypto like a gambling casino. It's a speculation game. There is no real significant use or purpose. I go through my days not running into anybody who had to use crypto to buy anything. Not even micro things like a cup of coffee. So there is no real sense of urgency to use crypto. There is no great commerce network. It's just buying bitcoin to buy altcoins to go speculate and gamble.
Now in the areas where crypto is really needed these developing nations. The tragedy of the commons is the very people who need to use crypto the most to manuever a decaying financial system often times don't have internet access or sufficient equipment. So they are being locked out to a certain degree. The biggest saving grace is cheap smartphones.
So the issue isn't about they don't have any money and they sucking money out of the economy because they have something just as valuable.. skills and labor. The problem is our systems aren't properly setup to facilitate and accomodate them. So they value can be properly extracted. That's why projects like i head up Bitcoin MYK introduced a task workers program so their labor can be traded on the open market against our token. That value converted and moved over exchanges.
So many crypto projects i'd imagine think like this person don't understand the real example for crypto may have to be first set in these countries. We don't really need crypto in the west in any form of urgency. Are you kidding me? People when they lose their money they going to be praying to some banking institution to call to recover their funds. People still want their hands held. We haven't grown up. We still want the politician to solve all our problems who could be a mad man and has been. We still want them to solve all our problems so we don't have to. That is easy and everyone wants easy.
People don't wanna think or face reality. So these places these developing nations they are the ones who are really using crypto. They are the ones we need to make good wallet applications for because they probably only has that smartphone to do all their business and transactions on. Projects like bitcoin myk that are on awesome functional wallets to accomodate these type scenarios. All this has to be thought about it. Once the problems are solved in developing nations then the west will take notice. The richer nations will then see the power.
This what we're doing here wont convince the average citizen to get into crypto. We can only do it because ubi is good branding for the average person to care. These people lives aren't in the shambles we here in crypto trying to make them believe. If it were they'd be here already. There has to be real utility. The person you ran into in discord is more than likely one of these people who just wanna get rich off crypto. There is no combination necessarily between utility and you getting rich. When i use a usd.. i use it because i need to use it as a medium of trade. I don't pick up a usd going moon!
So the cryptocurrency space is not even in the ballpark. Our thinking is far off of what will need to happen. Those developing nations are the key. They don't have disposable income to be making you guys tokens moon. Thats not what will need to happen. What will need to happen is the proper structure for them to use crypto so they can show the significance of crypto and together as a global financial system address some of the concerns you all mention.
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You nailed it. The totally miss the point treating crypto as a "gambling casino" as you said. To them it is all about buying low and selling high. Moon. Moon. Moon.
If that is the only reason for crypto, there is no need for it. There is more than a quadrillion dollars worth of stuff (financial products) that Wall Street created which can be gambled upon. Go buy options on whatever. They exist for just about anything you can think of.
Crypto is designed for exactly the people you describe: the ones who need it.
This made me laugh because it is so true. The ones who need it are also in the west, they just do not realize it yet. As long as there is still room on the credit card, they are happy. Spend Spend Spend.
Times are changing quickly. Unfortunately mentalities are not.
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