Re:Cryptos can't fix societal, political or economic problems
by m00dy on Thursday November 25, 2021 @08:30AM
(#29341193)
We can provide banking service to 8 billion people on this planet. It is obvious that we can't do that with traditional banking we have. It is just not scaling. Price of cryptos are speculative but the underlying technology a.k.a blockchain which gives users ownership over certain digital assets is here to stay.
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Re:Cryptos can't fix societal, political or economic problems
by azth on Thursday November 25, 2021 @08:54AM
(#29341363)
Plus, no reason that the major cryptocurrencies (Bitcoin, Eth) won't become stable over time as things become more mature.
Secondly, many of these articles seem not to mention that the major crytpocurrencies are a way out of government money printing. That's a huge plus for some of us. We now have a proper deflationary currency that is not affected by interest backed debt (which is a major sin in Islam, Judaism, and Christianity, that's over 50% of the world's population), and that the government is not able to devalue by printing more money at a whim.
Re:Cryptos can't fix societal, political or economic problems
by pintxo on Thursday November 25, 2021 @09:00AM
(#29341406)
Why would traditional banking not scale to 8b people?
Re:Cryptos can't fix societal, political or economic problems
by m00dy on Thursday November 25, 2021 @09:06AM
(#29341455)
Because, generating public/private key pairs for 8 billion people will/is taking a lot less time then average time that is taken for onboarding/kyc procedure of each bank that exists in each nation state.