If You Don't See Crypto as a Mean Of Exchange/Payment, You're Missing The Point
First time I heard of crypto it was back in the summer of 2017. I got the taste of it from a good friend of mine who set the bases of where I am now. He even gave me some free crypto in form of a few GOLEM coins. I guess these are still on that old JAXX wallet that I don't want to use anymore.
At that time he was involved in the tourism business in my area. He had a cruise boat and two ATVs that he was renting, and on his both adds he had a QR code accompanied by Bitcoin accepted here message. I thought of that as weird.
I was thinking back then, what's the point of accepting such internet money that don't really have any intrinsic value and are so volatile... Soon, I got more into crypto and I am at a point now where my only income is of crypto, accepting its volatility arms open.
At that time, and quite a few years after I refused to see them(cryptocurrencies) as a means of payment, or exchange, I was fine with the fiat system, was hustling into speculating on these assets the most and couldn't call myself a crypto maximalist. That no longer is the case.
"It's time to retire the word transitory on describing inflation, says Fed Chair Jerome Powell during Senate testimony on the economy." source
Well, looks like the dollar is also quite volatile, on its way down unfortunately and it seems that rents have gone up by 40% in small cities from the US. Is that caused by inflation in the US, which has passed "the regular 2% per year", according to Jerome Powell? Probably, I'm not that good at economics, but I smell rat poison in fiat currencies.
I know, crypto is still volatile, so how can we make it a mean of exchange? Quite simple... adopting it as such, in every freaking corner of the planet. Be it, USDC, USDT, HIVE, DOGE or whatever, we just need to transit to such a system. Once we get to that phase volatility will loose its significance and risks, because there won't be any other currency that would make it volatile. The only volatility would be between distinct cryptocurrencies.
Other currencies are volatile too, such as the Turkish Lira, so why panicking that much about Bitcoin being volatile?
I am probably exaggerating a bit with this narrative, but all I'm seeing on twitter all day every day is charts of BTC and other cryptos against the dollar, most of them coming from so called crypto gurus. Wen are these gonna see this technology past its dollar valuation?
If You Don't See Crypto as a Mean Of Exchange, You're Missing The Point
That's what I'm thinking regarding these guys attitude towards crypto and although I'm not that technical when it comes to blockchain, heck I am not even using DeFi, I live my narrative on a daily basis. I have used crypto to pay for all sort of goods when BTC was $20,000, done that at $60,000, 40,000 and am doing the same currently.
I see this tech for what it has been created. It's true that development has taken industry a bit further away from just a mean of exchange or payment, otherwise we wouldn't have Hive, but as long as we're tied to dollar valuation and refuse to see BTC and other crypto beyond a USD pairing, HODLing for ages and not spending and creating streams of wealth through crypto, we're missing the point.
El Salvador, a tiny Central American country is showing the world what Bitcoin has been designed for. What if, Bitcoin can't handle payments in every country of the world at the same time? Well, we'll use other ones, or multiple options, but lets start using these freaking coins on a daily basis. If Elon Musk would be such a crypto advocate that disregards the system, he'd definitely accept crypto payments for his Teslas.
I probably sound a bit fanatic with this one, but as long as we keep on using on and off ramps for crypto and just speculate on it, we're missing the point. That's how I feel...
Thanks for attention, Adrian
Posted Using LeoFinance Beta
