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RE: The Age Of Abundance: Radical Shift In What We Value
I think you're a little bit optimistic. The USA government and most big governments around the world are failing. I don't see crypto paying for things like healthcare and food for broke people that have no money.
We do currently have a problem with valuations. Typically the highest paid government employees in most states coach a team that plays a sport.
I am not as optimistic as you about the collapse of the US Government.
Sorry to disagree but it isnt going anywhere any time soon. The ability to keep it afloat is still in their hands.
Really? Why not? That is exactly what can buy food and healthcare.
Crypto is not magical. Crypto alone does not create wealth. The entire crytpo market in the whole world is not enough to fund the USA government for even 6 months. If SHTF I expect some cryptos to collapse when people need money. Poor people that have no money and no crypto will not benefit from crypto and might even be hurt by it since their foodstamps and salaries are paid in Fiat and not crypto.
Again, I have to disagree. While crypto is not magical, it is the as much a solution as fiat.
No it creates value. There is a difference. And if the SHTF, an alternative would be valued.
As for medical, the health token could be created in a heatbeat to be used for health needs.
How do you know? How can you make that statement? How much does it take to fund the US Government?
When you take dollars out of the equation, how much does it take?
The only reason I see you can make that claim is because you are valuing crypto in terms of dollars which is a useless exercise if the US Government takes the USD down.
Crypto fiat houses cars etc are all assets. We can destroy wealth with crypto or create wealth with crypto just like any other asset. Personally I think we should use more proof of stake crypto like Steem anbd less Proof of Work Crypto like Bitcoin that is wasting resources due to massive electrical consumption.
I could make a mysearchisover token and sell it to you and take all your money for it. I think crypto is useful and it is a hedge against fiat but we still need to be concerned with wealth creation. We can't all invest $250 into crypto and get a Lamborghini out of it. lol
The entire crypto market is worth under $400 billion according to https://coinmarketcap.com/ . The USA governments budget is about $4 trillion. Venezuela is making crypto and they are still broke.
You are right that crypto may be way better than the failing USD but just because the USD is dying does not mean everybody is going to be rich off of crypto. The US government could come out with their own crypto currency and we could still have the same problems that too much socialism and wasteful spending brings. People will probably eventually be able to go into debt with crypto just like they now go into debt with fiat.
Do you use @dustsweeper? My solo upvotes do not count.
I think we end up with one POW token and that is Bitcoin. Everything else will migrate to POS or end up disappearing. I do not believe all the forks of Bitcoin will survive long term.
I also think BTC needs to be POW. To have one chain using that method, to provide the security and lengthy verification, is healthy. Let everyone else do POS.
A centralized closed token put out by the same yahoos who drove the Bolivar into the ground. Yeah I think that is a presumable outcome.
And you dont think the value of crypto would explode if the SHTF and the USG collapsed (which I dont think it nor the USD will ...not overnight). To start, it would have to since the market cap is priced in dollars.
As for the rich part, I never stated that everyone would get rich under the scenario presented. What I said was that crypto could step in by the creation of tokens for the specific things you mentioned, medical being one of them.
This is the same thing the Fed does when it does it easing..the only difference is the money created is given to the banks to enter the money supply via debt. Here, you could issue health or food tokens directly without going through the bank and have the blockchain run as opposed to the government.
There are tokens being created for medical records and genome information, it isnt a big leap to create one for medical services. And with a collapsed dollar, medical facilities would take them.
No I dont use that...seems like an interesting project. I will have to try to write up a post about them...try to get them a bit of publicity. Seems like a great project.
Yeah so in other words a lot of crypto holders will lose money/value. I think it's possible that even bitcoin could fall if Steem does well.
I didn't know the Venezuela token was Centralized.
If SHTF cryptos and other assets may not really go up that but inflation probably will. It might take you 10 bitcoin to buy a million dollar Lamborghini whereas now it takes 10 to buy a $100,000 Lamborghini.
I expect someday there will be consolidation in the crypto world. I don't think we need a token for every little thing but there will probably be much more blockchain usage.
It is a great project. Hopefully we can get the payout threshold lowered to .01. It sucks not having being able to upvote replies and posts and have my upvotes count.
Actually we will have all still in the future. Everything from "Crypto rich" to "Poor has no idea what a computer is". But Crypto can very fast infect all areas once people see how much better it is and how they do not have to deal with a Bank anymore. Word of mouth spreads very fast.
Crypto will not solve all of the world's problems. It could even make some problems worse. I don't think a USA government and economic collapse will be a good thing for example which crypto could potentially help speed up.
That is true.
Although it will solve whatever financial problems there are.
Unless you somehow thing that Fiat is different than crypto.
Anything the government fiat pays for can be funded through crypto.
I think the main difference between fiat and crypto is fiat pays for things like food and healthcare for poor people. It may be good for crypto holders when fiat collapses but I think it will be bad for society in general.
Crypto will pay for food in the future. 🌮You can order food online from many services. Soon you will be able to order a Pizza with Steem. 🍕Soon you will be able to order a Taxi with Steem. 🚕Go check out SteemPay it's already super amazing. If people don't take care of things then they will collapse. This is just evolution. If things always stayed the same people would be bored to death.
You can use almost any asset to buy food but yes it will be easier in the future. Have you used Steem pay? You can't use it to buy Steem with fiat can you?
I think you can create and destroy wealth with both crypto and fiat and other assets as well. I think you are missing that key point.
You can buy Steem with Fiat on an exchange just like any other cryptocurrency. If something is being destroyed then it's because someone didn't manage it properly.