smitty899
How is cryptocurrency going to make lending money any less risk averse?
It's easier than ever to borrow money today, even if you are poor and have no assets. I started my business on credit cards (from a traditional bank) as a poor college student. I would have never been able to do this a couple of decades ago.
However, APR is a direct correlation to the likelihood that you will actually get paid your money back. Bitcoin isn't a magic bullet that will suddenly change all of this.
It's also easier than ever to start a business. With a computer and an internet connection, you can pretty cheaply start a business online and actually make money.
Rather than cryptocurrency, financial education for the masses will be more revolutionary.
"If digital currency allows wealth and power to pool in the hands of a few, that’s not so revolutionary."
In a completely open and free system, this will eventually happen. If there are regulations put in place to force decentralization, the whales/investors propping up the high prices on these cryptocurrencies will leave.
Isn't this the the general idea of a union? IE: you centralize/pool your resources together to strengthen your power. I don't see why it's any different when it comes to cryptocurrency.
If anything, cryptocurrecies will hurt the lower class. The technology and knowledge to actually trade it requires a certain level of education, which leaves many people out.
I think of it like penny stocks with no regulations. I wish I would have put some money into it 5 years ago.
I'm an experienced developer and when I change jobs, I'm always given this type of work in the beginning. Bug fixes are great for learning a new application because you often times get to touch multiple parts of the application and gain experience from it.
On most teams, you need to earn your position as a developer that can handle some of these larger tasks.