Topic: Does cryptocurrency actually solve any problems? - page 7. (Read 791 times)
To sum everything up, cryptocurrency most especially Bitcoin is here to solve our financial problems. So have it in mind that Bitcoin is an alternate to our traditional financial system and not all problems it can solve for your. It cants solve your physical problems okay
List is so long but i will try to write only few basic characteristics of Cryptocurrency that distinguish it from financial system.
Other than above, there are many other things that are unique in Crypto but are not present in Traditional Financial System.
I mentioned some features and such features have huge use cases. And i could also mention a lot but a newbie like me is smart enough to make some use cases out of such features. Like where anonymity, decentralization, Full control of our own assets, etc. came handy.
- Decentralization is the first thing that crypto provide us
- Anonymity, self-custody, full confident on our funds, full control on our funds.
- You get to make agreement/smart contracts that can become helpful even using the BTC blockchain as it consists of timelock feature to execute smart contracts after fulfillments of some conditions. And the main thing is all of such agreements will be Decentralized.
- Decentralized means no one could interfere with the agreement terms or go against it.
- In financial system you don't has such features.
Other than above, there are many other things that are unique in Crypto but are not present in Traditional Financial System.
I mentioned some features and such features have huge use cases. And i could also mention a lot but a newbie like me is smart enough to make some use cases out of such features. Like where anonymity, decentralization, Full control of our own assets, etc. came handy.
Solves many issues which are created by the traditional financial system. You like working to make $100 and instead of spending that $100 you decide to save it, then a year later you can only buy $90 worth of stuff with it. Your money was basically devalued without your control. Fiat money printing hurt many people who were savers.
There are also other problems it solves like it’s decentralized, it’s trustless, it helps those unbanked. Sure it’s possible the price of BTC might decrease or increase due to its volatility but so does many other assets such as price of stocks or real estate.
There are also other problems it solves like it’s decentralized, it’s trustless, it helps those unbanked. Sure it’s possible the price of BTC might decrease or increase due to its volatility but so does many other assets such as price of stocks or real estate.
Been asked a couple of times, what problems does cryptocurrency solve, and what’s its unique value proposition compared to other cryptocurrencies or traditional financial systems. Would love any other users take on this ..
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