I dont see a single improvement .. as long as Cryptos depend on Fiatmoney they will just serve the system instead of replacing it which was the intention behind the first Bitcoin in 2009 ... the seed of failure was already planted into the BTC-programm .. as long as the value of a Crypto depends on Fiat it cannot become a replacement .. so why Cryptos if they do not build a new world but just become some "assets" for (fiat) speculations ?
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One reason I could think of is exactly community-driven websites like Hive. You can't have that system based on Fiat because of so many bottlenecks that are unsolvable in tradfi and the legal system around it.
I would also say that it is too early to judge if crypto will replace fiat or not. It can certainly be complementary during the transitory period but it's not that easy to value things in crypto or BTC when we can't really determine the real value behind it. As long as the speculation game is played very little will change in that sense.
But, again, crypto has already changed a lot of things in the world. Earning potential online has gone through the roof. Seems to me anyone can earn money working in this industry as long as they want to commit and treat it as they would a "real job".
That is a big step forward imo
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if something depends on Fiat it cannot replace Fiat !
the only crypro replacing fiat would be one with a fix value -- maybe connected to the goldprice .. and then split into nation-values (started by giving them the value of the BigMac Index)
If I want to pay with cryptos .. the only way to replace fiat .. and build up an alternative economy then I need a coin which keeps its value .. If I sell my car for 2 BTC today and this could be 120.000,- Euro and tomorrow the US government sells the 1,5 Millions BTC they own after the raid of Silkroad then my 2 BTC will have the value of maybe 2.500,- Euro instead of 120.000,-- and what can I buy for 2.500,- instead of 120.000,- ???
To build up a real alternative economy we must become independent from fiatmoney .. and one thing which is protected from all sides -- also by the elites -- is gold. so a goldstandard-covered coin would be a beginning to have a value .. and if Fiatmoney crashes, if - or when - we go into hyper-inflation in 2 years or whatever -- a fiatindependent Coin would survive and give people safety of what they earn or spend .. and only this way we can replace the fiatsytem !
Its really amazing what people DO NOT understand about the money system !
To replace fiat you need something that is (more or less) equally valued worldwide, like the US dollar. Before something like that appears nothing will replace the fiat system, ever. No one will accept a currency that exists on the internet because it is "fake money" for most of the world. You simply can't force an idea onto the whole world just because it sounds good to you.
Gold is priced in US dollars, thus Gold is also dependant on Fiat. It's really nonsensical to even discuss this because everything is valued in fiat for many very good reasons. How can you value Gold if you remove the US Dollar value from it? In houses or loaves of bread?
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yes thats what I said -- create a cryptocoin depending on the value of gold .. gold is protected even by the elites themselves so it has a stable value .. and start using this gold-value coin like every currency should be .. as an exchange instrument between buyers and sellers, employers and workers .. money must be stable and independent and NEVER be an object, a "good" for speculation itself ! This new coin would grow into the current system because many people would use it .because they can trust it . and it finally could replace the fiatsystem without hurting the small ones .. just the elites would lose ! Would break my heart but I think I would survive it !
Fixed money never resulted in major societal advancements. Do you think it a coincidence that you saw the greatest technological expansion in human history after the end of the gold standard?
And beside, Nixon ending it was just a formality. The Eurodollar system zapped that since the 1950s. Effectively it operated around the gold standard, meaning the US simply was shipping more of its gold out of the country.
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the greatest technological expansions as you call them were made before money existed .. the wheel, the fire, astronomy, the invention of writing or buildings still standing for tenthousands of years and will still stand after our crap will be long gone .. .. to the greek and egyptians .. we have nothing that was not there before .. or in our time was made in Germany when it tried to become independent from the centralbankers .. Germany was bombed to the ground twice because it wanted to get away from the banksters and was successful with it !
The only reason for ending the gold standard was expansion .. conquering the planet .. quantity instead of quality and centralization of power .. or simply called globalization !
And also in the US the founders warned - but greed finally overruled them !!
"If the American people ever allow private banks to control the issue of currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered". — Thomas Jefferson
But there is one thing you are right -- it would not be impossible for corporations like the BigPharma or BigTech to take over the planet, to force people into vaccinations or steal their reedom if we had a stable (national) currency .. this "growth" is only possible via global-fiat-money !
PS: Gold has about the same value since thousands of years in history .. if you measure it in Dollars, Euros or Kauri-seashells of the pacific (in fact the daily goldprice is very different in different currencies - check it - and is NOT connected to the Dollar -- Nixon-Kissinger ended this in the 70s) ) .. its like the metric system .. its does not matter if you walk a special distance in feet or inches or meters .. its always the same amount of steps you have to make .. take a moment in time of the worldwide average goldprice and use it as a start .. gold will always keep its standard .. beside the new one you create .. later you can split the coin into national coins and give them the national power of economy and culture .. (you can use the bigmac index for this to start) .. so we could go back to a natural system where nations can trade like their economical power allows them .. the end of all kind of globalization !
2 days ago I wrote a post about the goldprice and hyper inflation .. in German but there are good online translators and its not long !
PS: Your "earning" depends on the loss of others who speculate to "earn" something .. its a speculation game and not an -"earning" -- real earning would be if someone sells his products and offers his services and gets good coins for it keeping their value .. what you are mentioning is nothing else than what the elites do with us .. speculation to make many poor for one getting fiat-rich !
Huge difference. People (including the rich) are putting money into crypto because they see it as an investment. Builders then take that liquidity as pay for their work because if no one is building the future there is nothing to invest in.
These two go hand in hand and it's the most efficient and fair system we came up with if you ask me. This is so much more than "stealing from the poor and uninformed" imo
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... if "builders" take the cryptocoins to build something then it might have the value of 60.000 today and tomorrow maybe 600,-- - depends on the mood of the "investors" to gamble a bit .. if Elon Musk sells BTC for 20 Millions the BTC crashes down 50 % .. and Musk has fiatmoney enough to buy them back cheap and earn another 20 Millions overnight .. always because somebody who paid 50.000 or 60.000 before is afraid that BTC will crash totally and sells in panic what he is holding althoug he is losing 50 % .. its a pure speculation .. like shares .. just hat shares usually have a companay behind and cryptos have nothing .. only the stupidity of Millions who think they can make a little extra and are betrayed by those who have a lot to gamble ! The Casino always wins !
Cryptos are one product of many possible running on a blockchain .. of course you can run a "community-driven network" without the "money-value" behind .--- remember the SETI-project .. Millions were spending a little energy of their computers to run a big project listening into the space ... instead of SETI you can run any other energy-driven project -- you dont need fiatmoney-backed cryptocoins to run it !
The days when people gave away their resources for free are long gone. You need a really good cause to make millions of people to contribute their computing power pro bono. Crypto is nothing more than a measurement of your contribution to running the network and a very accurate measurement as well.
Give people financial incentives and they will participate. Ask people to give you computing power or personal information for free and you will become the new Facebook and new SETI very quickly. Our economy is run by capitalism and every individual should be rewarded for their contribution fairly. I see no problem with that.
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You give your computer power PLUS your data to every idiotic app-owner for free .. just that you dont know it .. or did you ever see or hear that people cancel their socialnetwork accounts because their userdata are abused and sold for a lot of money to companies who again trade their data for a lot of money ? Or that anyone wants to get paid for this ? No - they go on using their profiles because they cannot see or ignore whats going on behind them and dont want to miss what their "friends" are posting for their last dinner .. .besides -- also Hive is spying on you and selling your data .. for the peanuts ou "earn" here .. and nothing of what you "earn" here has any value .. it will crash with the system .. and this will happen soon .. its long overdue !
PS: SETI did not use any power you needed .. just when you had your system running and did not use it .. all those years I had it installed it used less energy than one Bitcoin-transaction is using (for which I have to pay extra)
If you have the utopia mindset then you won't see improvements. We can't entirely change a system over night otherwise it will fail guaranteed. The slow replacement is the best method forward. Governments do it all the time because you can't flip a switch. Same thing with movements like crypto. You will never succeed if you are determined to go without fiat currency. If you try to complement and replace it though, you'll have much better success.
You will NEVER replace it if you use the wrong instruments and fiat-based cryptos are supporting the system and not replacing it -- not today and not in a million years .. also a fiat independent stable coin with goldprice values would not make changes overnight but softly growing into it and after a while it would replace the fiat system step by step .. something that is totally wrong from the beginning cannot turn out right after a million of years !
I don’t think the defeatist attitude is productive for the discussion. I’m not saying it’s not helpful to be devils advocate but with the constant mindset of “no” you won’t achieve anything substantial. There have been plenty of silent coup’s that have gone on with playing by the rules they’ve created and coming out better in the end.
I am Asperger, I say what I think and how I think it ... with the polticial correctness paraphrases I can not do anything
If something is wrong then it is wrong
If I want to harvest grain, then I have to sow grain in a soil that is intended for grain.
If I sow seeds of weeds in that soil, then I will harvest weeds, whether I sow a handful or a ton ...
That being said, I cant recall any "coup" that defeated the fiat system, central banks, and turbo-economy ... anyone who tried was either banned or there was war, with the result that we became even more dependent
This is the only chance in 200 years to clean up and replace the masters of money -- but as they said themselves ... hardly anyone understands this system and the few who do will never be taken seriously ...
one who was "nearly" successful showed how it works -- and with a few changes and on the blockchain theycould not get rid of it today .. like they could in 1932 ..
If it would have been successful we would have avoided the second worldwar and another 80 years of destruction plus what will come up soon ..
https://showmethemoneytbone.blogspot.com/2013/05/the-worgl-experiment-austria-1932-1933.html
The problem with that viewpoint is that you attribute fiat with manipulation. Unfortunately, the sound money concept is susceptible to the same concept. You mentioned, below, commodities. That is even more prone to manipulation and control.
Cryptocurrency is not dependent upon fiat per se. It is how most enter the market, that is true. However, the expansion of the entire platform is dependent upon many different variable like expertise in coding, time developing and users embracing.
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I know what I am talking about .. and I know what fiatmoney means and how it is produced .. ,my parents one forced me through an academy teaching that stuff
Its no coincidence that the US produce "money" out of nothing an "cover" it by forced purchases of state-bonds by other nations who want to trade in the US-forced WTO .. you should learn a bit about it to understand !
any currency -- no matter if crypto or real-life depends on something . .either on trust of the people that their nation and economy back the money or a forced "value" like its Dollar or Euro or any other fiat-currency -- .. they are no "money" anymore, they are not backed and they are the instruemnt in the hand of a few fuckers ... if they tell you tomorrow they end this system its gone ! Fiat-currencies are forced instruemtns for payment - not money ! ! And what would a Bitcoin be "worth" if you deconnect him from fiatmoney ? tell me please !