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It has produced poor people easily to be able to store their wealth something that they can both afford and isn't constantly being debased. Something they can t

by 127 5y ago

It has produced poor people easily to be able to store their wealth something that they can both afford and isn't constantly being debased. Something they can trade without an intermediary, that can't be trivially censored or confiscated. Something that doesn't require taking great risks and effort in transporting like physical gold. I think that's definitely worth something. Crypto only needs resources as much as it needs security and throughput. More efficient cryptos will win as they are cheaper.

rtpg 5y ago
Yes, poor people, those who we all know have savings to protect (and definitely don't have a negative net worth /s) There are people who benefit from having strong stores of values with deflationary pressure, and it ain't the poorest among us.
paublyrne 5y ago
> It has produced poor people easily to be able to store their wealth something that they can both afford and isn't constantly being debased I can't get excited about people too poor to have access to banking putting their money into something as severely volatile as crypto currency. There is room for new financial companies supporting mobile banking and banking in the developing world, but I don't see why crypto needs to be involved.
- hungryforcodes 5y ago
  > I don't see why crypto needs to be involved But others can and that’s the important point here.
prox 5y ago
Except that’s not how value works in a human, emotional sense . Without agreements (maybe some crypto’s have that implicitly? Idk) the value will plummet, scale, inflate, deflate without reason or sometimes apparent cause. There might be countries where there are advantages to crypto (say Turkey who was in the news) where it’s a better short term alternative, but crypto in my book is as speculative as ever, and I have seen nothing that changes my mind. I’ve heard (don’t know how true it is) there also there are also some big players who have big hoards of a coin and can dump or pump a value at their wim.
pjc50 5y ago
> poor people easily to be able to store their wealth Listen to yourself here. The debasement argument is irrelevant when the purchasing power can vary by 10% on a daily basis.

by 127 5y ago

rtpg 5y ago

Yes, poor people, those who we all know have savings to protect (and definitely don't have a negative net worth /s) There are people who benefit from having strong stores of values with deflationary pressure, and it ain't the poorest among us.

paublyrne 5y ago

> It has produced poor people easily to be able to store their wealth something that they can both afford and isn't constantly being debased I can't get excited about people too poor to have access to banking putting their money into something as severely volatile as crypto currency. There is room for new financial companies supporting mobile banking and banking in the developing world, but I don't see why crypto needs to be involved.

hungryforcodes 5y ago
> I don't see why crypto needs to be involved But others can and that’s the important point here.

prox 5y ago

Except that’s not how value works in a human, emotional sense . Without agreements (maybe some crypto’s have that implicitly? Idk) the value will plummet, scale, inflate, deflate without reason or sometimes apparent cause. There might be countries where there are advantages to crypto (say Turkey who was in the news) where it’s a better short term alternative, but crypto in my book is as speculative as ever, and I have seen nothing that changes my mind. I’ve heard (don’t know how true it is) there also there are also some big players who have big hoards of a coin and can dump or pump a value at their wim.

pjc50 5y ago

> poor people easily to be able to store their wealth Listen to yourself here. The debasement argument is irrelevant when the purchasing power can vary by 10% on a daily basis.