5 ms·
> trusting the unregulated gatekeepers. Mine your own coins, and buy stuff with crypto. I don't see why you need to pass through gatekeepers. And when you can
by koonsolo 5y ago
> trusting the unregulated gatekeepers.
Mine your own coins, and buy stuff with crypto. I don't see why you need to pass through gatekeepers.
And when you can buy things with crypto, there is also another end that sells things for crypto.
Ok, maybe it's a minority, but it serves the niche pretty well.
- jqpabc123 5y agoThe people who sell you stuff usually need guidance on pricing and they will usually want to quickly move the money to a more stable currency once the sale is made. For all this, they go to the gatekeepers. And likewise, you need to decide if the price you're about to pay is reasonable and fair. And for this, you go to the gatekeepers --- because there is no reasonable alternative. Crypto can't escape the influence of the exchanges in the same way fiat can't escape the influence of government.
- koonsolo 5y agoCrypto can work perfectly fine without a link to fiat. Funnily even stablecoins don't need fiat (see Terra's UST).
- jqpabc123 5y agoAnd yet, more than half of all crypto trades are linked directly to fiat by way of Tether, USDT. https://coingeek.com/terra-ust-is-now-the-biggest-decentralized-stablecoin-and-it-is-no-better-than-tether/ https://coingeek.com/terra-ust-is-now-the-biggest-decentrali...
- koonsolo 5y agoWhy are you still talking about trades? I just argued they are not relevant.