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RE: Money Created Out Of Thin Air

in #steemleo5 years ago

I first imagine a world where we don't have a use for crypto or fiat. We have abundance and it's not based on any type of exchange.

As a transition to that world, crypto has value. IMO the biggest weakness currently for crypto is that it is still linked to fiat. As long as this link exists, it's possible for the fake money printers to manipulate the prices of crypto and determine its value. This is similar to the way that fiat has been used to suppress the price of gold and silver in the paper markets.

The next logical step is for a large enough group of producers and consumers to decide to transact with each other using only crypto. Various experiments have been done along these lines where a local town uses it's own currency, but that solution isn't scalable. Crypto solves that problem.

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