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I don’t know if it goes deep enough. I think there is still room for improvement

There are many different things in it, but in summary I read a skepticism because in your eyes it is hot air that criminals take advantage of. I think this is only a small part of the elephant. You know the meme image where different people feel an elephant – and the person pulling the trunk has a completely different image than the human by the tail? This is the phase where crypto is moving. Crypto is a technique, and that technique is brilliant.

These are not my words (Charles Hoskinson, founder of Cardano), but then you might also understand my torrent example better:
in the 1980s the internet was set up centrally with servers and mainframes. with the property that the more people participate in the network, the more it is loaded, the slower it becomes. The computing power is centralized, so costs and management are at the center.
In the 90s, with the advent of napster and P2P, that computer logic was reversed for the first time, BitTorrent was born. With the property, the more people who join the network, the faster it works. Why has it been abolished? Yes, because “criminals” (read: brats like you and me who occasionally pulled an album or game from the Internet) took advantage of it. That illegal content crossed the line was not due to the technology, but to the people and the organisations. In the end, we as a society said, cut it down, and the technology – which has proven to be very reliable matured ‘(in part) thanks to’ a few of these criminals – is being used more than ever.

Now there is almost no downloading, torrent sites have been banned by almost all providers, but the technology still exists. So in the 90s we knew how to hash files decentralized and send them in a decentralized network. There was one big problem (besides the illegal content): there was no incentive to keep providing your computing power to the network. Once you had your file, you shut down the torrent and only the true enthusiasts shared their content.

With the advent of crypto, P2P technology has entered its final phase. Not only can you now (still) download media, but for the first time (Bitcoin) described how you could use that technique to transfer value without a central link. In short: brilliant.
The business case for taking Equens out between the banks and processing real-time transactions instead of syncing every 24 hours is made in no time.
Why should one party get paid when everything can be automated and you and I can be paid for the computing power we provide to the network through which all (global) transactions are carried out? Why not ?
Transactions are not free, but cheaper, and we get a % for what we deliver. It is the perfect way to generate interest on your savings. It’s not hot air:
Pietje pays Henk 10 euros for the flowers. 0.01 cents will be treated as payment because 0.1 will go to you because you provided the computing power to process it.

You may be an exception, but many Dutch people order goods from China. I have a shop myself, and I also import things from countries outside Europe. so I do these costs with some regularity. if you also have trouble with the banks’ opening hours – 5 days and sometimes longer processing time – on the other hand, on the other hand, a personal agreement with a bank is also sometimes necessary, then you quickly notice how outdated the system is.

Payment with Tikkie in the Netherlands takes no time. but if you know what solution is needed to make tikkie work well, you also think: there is room for improvement.
There is still much to be gained here, and apart from speculation, sooner or later cryptocurrency will play a role here to a greater or lesser extent. Anyway,

Another good example is stock trading. The market is normally open Mon-Fri from 9 to 5, but for a select group of people you can shop half an hour earlier and half an hour longer. Why ? Isn’t that super unfair to the consumer? Why do I have to wait until 9 on Monday if a CEO dies on Saturday night?
Here again you will see that this will have an impact on the so entrenched and corrupt financial system.

Shiba Inu, only exist because they think people are crazy enough to think they can become millionaires with 50 euros. Anyone who believes it does not understand it. Yes, it is possible, but you can also do that if you buy a ticket for 50 euros. Or the casino with a bit of luck. It is truly a piece of man that I also scratch behind the ears. but they should know that themselves. He who has sense does not throw his money into a bottomless pit. if you don’t have it, you can only try to explain and show what works.

It is also a way for some companies to arrange financing, as some companies do when they go public. So you have to immerse yourself in the team behind a coin; if it’s anonymous, I’m guaranteed to pass. No shiba for me.

There is nothing wrong with a market from an economic point of view, but a market must be fair and transparent. This is only possible with regulation. It is necessary, and is still in its infancy. Like BitTorrent, in the 90s. Thank God they didn’t ban the technology, but they looked at what can be done. We now happily use what is left. :)

[Reactie gewijzigd door dwarfangel op 25 december 2021 02:07]

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