The Power of Banking
First, people wanted to "destroy" the traditional banking system with the cryptocurrency, now they copy it. Will this be any good for the average people?
The Power of Banking
First, people wanted to "destroy" the traditional banking system with the cryptocurrency, now they copy it. Will this be any good for the average people?
People dont understand what they want to destroy so the idea of replacing something they dont know about is pretty foolish.
How is cryptocurrency going to replace the traditional financial system?
Posted Using LeoFinance Beta
I wish I know. But probably it is possible. If everyone (or at least most) people would use and accept cryptocurrency for general things, for example for buying and selling food, then it is possible. It is much easier in smaller communities/groups.
It was never about destroying the products but to eliminate the control over these products, different things.
Posted Using LeoFinance Beta
By "destroy", I mean replace. To have a better, more fair wealth distribution. This was the original idea. Or at least this what I remember hearing/reading about it from around a decade ago.
Well, from what I see here, it definitely fits into your narrative, because it's more fair and brings value to the community.
As a HP holder you benefit from this without even interaction with the protocol, so not only the borrowers earn, a HP holder earns without even knowing the system exists in the first place.
This is true. Nowadays Hive Power has an interest rate around 3% APR. People need only to hold it to earn it. I also build Hive Dollar (HBD) savings, which nowadays has a 20% APR interest rate. I currently have 1505.701 Hive Power, and $250.50 HBD in savings.