Topic: Cryptos (mainly bitcoin) and how it helps the world (Read 441 times)
I've seen cryptocurrencies as a way to bypass large financial institutions that often charge huge fees for handling money. If you're in the U.S. and you want to send money to someone in, say, Ireland, it's likely that the financial institutions in both Ireland and U.S. are going to shave some off the top. Even Paypal does this. So whenever someone asks me how we can improve international trade, I just say, "Use Cryptocurrencies. It keeps more money in the hands of the buyers and sellers involved because fewer middlemen are involved."
What are the main things cryptos do to help either you or the world? Why are you into them? Is it for investment?
Social change + investment its win win all round. Without government controlling money its the first time in history we can realistically have small government.
So as it stands now it doesn't help with poverty or do you think it will? I mean there is a slight unfairness of the fact early adopters have bitcoin and the later are merely users. Poor people can not afford bitcoin or don't have access to it which is a shame.
It will reduce friction for certain international transactions so that will inevitably improve trade. If it also supplants visa/mastercard/paypal etc for certain online transactions then it will help with domestic trade as well.
http://nakamotoinstitute.org/virtual-communities/
Quote from: Tim May
The combination of strong, unbreakable public key cryptography and virtual network communities in cyberspace will produce interesting and profound changes in the nature of economic and social systems. Crypto anarchy is the cyberspatial realization of anarcho-capitalism, transcending national boundaries and freeing individuals to make the economic arrangements they wish to make consensually.
What are the main things cryptos do to help either you or the world? Why are you into them? Is it for investment? To bypass the government taxes? What do you think the best advantage of cryptos are to this world? Just a few thoughts please as I want to start a poll about this.
I use bitcoin because I don't trust banks or the government and I buy as much as possible for the next boom. I also like the potential it has to help the poor and how it connects people.
I use bitcoin because I don't trust banks or the government and I buy as much as possible for the next boom. I also like the potential it has to help the poor and how it connects people.
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