>VOLATILITY, hence the need of stable coins, a cryptoDollar for ex. (but if they are backed, then we re not really talking decentralisation, right?) >perceived as ellaborate, technical and security overheads >a monetary system already in place, that cannot be changed overnight
The adoption will take time, and it needs a few milestones:
>the system needs to be supported by collective economic activity and a growing userbase >greater stability, as greater liquidity and orderbook depth are achieved >a market of stablecoins and crypocurrencies trading freely against each other
As widespread crypto commerce is on its way, are these prerequisites enough? Are they happening already in some coin ecosystem? Feel free to add more, argue and state your op on this!
Collective economic activity - people must have a reason to spend a certain coin on something?
Jaxson Roberts
>but if they are backed, then we re not really talking decentralisation, right?
i wonder could they be backed in a decentralized manner?
like you get one cryptocurrency and all banks all around the world back it (as in allow you to cash out)... or not all just a lot. if it's not up to a single actor to show good faith but a lot and they even have legal means to extort the money from the ones that issued a coin. say you got your coins from bank A and cash out in bank B then bank A owes money to bank B the central bank of bank A insures this debt will be met and in the end the country of bank A will stand the bill for it's central bank as it should.
but of course now you have a coin that is issued at will same as numbers on your account. it's a crypto that's also fiat and we are back to square one.
Isaiah Long
right back at you ”all the banks in the world” we re talking a centralized system with no interest in losing power. i believe the very definition of a bank is against a decentralized coin
Jonathan Bell
they are decentralized as a collective. centralization of currency issue stems from the fact that there is an authority within a country deciding how much to issue of it.
but if all countries could use the same currency and all could issue it you couldn't talk about centralization anymore. it would indeed be a decentralized system. and also if one could transact his money freely without banks as with crypto such money would meet every requirement of decentralization.
Matthew Wood
We are currently funding the companies which are willing to build a new global economic system
Jaxon Thompson
yes, a good example would be the wildcat money of the 19th century America.. a growing userbase using the same coin for economic purposes
Aaron Cook
i propose the new world currency would be called bj... 1 bj is the rough price estimate for a random blowjob. around $20 as of now. a lick is 1:100 of a bj. so a coffee would run around 20 licks. how many bjs are your net worth anons? 3k for me.
Angel Morgan
Isn't this happening at a certain level in the skycoin ecosystem? A service people will buy (high speed private internet) hardware and games... People spending the coin, making it more stable
Austin Rivera
You wish 3k. Since you post on Jow Forums you get-5k bjs by default.
Adam Peterson
nah i have no debts whatsoever paid by my student loans fully a year ago.
Carter Nguyen
you forgot the biggest barrier of btc: time >standing around at the checkout waiting for your buttcoin to arrive
Nathan Turner
We already have a beautifully designed decentralized stablecoin with an experienced, professional team and a mature community. No one gives a fuck because it turns out crypto is just a big money laundering scam for cartels.
Evan Garcia
The implication of the banks wouldn't turn upside down the whole idea of decentralization? In the moment you take in consideration to involve institutions and banks, then practically you get the same results you have now but in another package.... The whole point shouldn't be to involve the community?
Ryder Martin
Skycoin is a contender for that. Decentralized Internet doesn't seem a far away dream, the more people talks about it and gets involved, the closer the dream gets
Nathaniel Gonzalez
there are situations where crypto is better than fiat.. in cases of emergency, blocked funds, and so on, you can perform a transaction almost in real time and pottentialy save a lot of hustling, even your life in some cases
Nathaniel Edwards
Exactly my point, look at what is happening with Sky now. The decentralized internet everyone can be a part of, with the necessary hardware at hand, also applications, games and so on. Not to mention other startups based on skyledger blockchain and accepting sky as a payment
Landon Howard
DAI fully decentralized, backed by ETH, survived the december - june crash in its collateral asset while maintaining its peg to the dollar again for emphasis: this working right now. the stablecoin problem is solved, what comes next is expanding crypto awareness and waiting for natural inertia to give way
Daniel Myers
>skynet ugh no thx chrome brain!
Chase Gonzalez
i believe the two economic systems will live side by side, fiat and crypto. as is the case with Sky, you will not be able to buy groceries with skycin, at least not yet, but will be super easy to pay for your data traffic, a solar panel, or transaction fees on some exchange, for ex
Isaac Carter
Wrong thread mate. What is it that you show plain hate to wards a project you know nothing about, except the fact that it's a "scam"?
Carson Walker
businesses from education, virtual reality, fund raising, travel, greenies, those who battle political corruption.. have adopted, or accepted trading in crypto, which is a big step ahead. they aknowledge the flaws (VOLATILITY being the biggest) yet they are willing to use it
First you need to understand what mainstream wants -> stability, safety, trust, accountability, ease of use, convenience, security and help with reversing fuckups/frauds.
1. Stability, obvious. Volatility is a big no-no. 2. Safety, normies suck at opsec, there is no way around it, you expect people who don't know what adblock is to handle their private keys? Lol. If it ain't idiotproof it's not safe for them. 3. Trust. Unlike autistic ancaps who fap to decentralization normies don't give a shit about trustlessness, sell a product that will not seem creepy/illegal/anti-american/anti-government and will be trustworthy in their eyes or GTFO. Normies don't understand nor care about trustlessness, they want to have someone they can blame if shit goes south. 4. Accountability, if you can't be mad ad some schmuck when something fucks up, there's a bug or delay or whatever then you can only be mad at yourself. Again, mainstream wants to be able to be mad at someone in charge, they don't want to be in charge and be their own fucking banks, lol x2. 5 Ease of use. I can't stress that enough, if it ain't idiotproof, forget it, better, faster and more easy solutions will be chosen instead. If you can't pitch your product to a normie in less time than it takes them to register an account for some mobile payment app like Venmo or WeChat you lose. Also forget about the fiat/evil bankers/no middleman spiel, you waste your time 99% of the time. 6. Convenience. If it's cumbersome it doesn't matter how good your fucking app/coin/whatever is, doesn't matter it has more features than a swiss army knife and doesn't matter if it even does a blowjob for free. If it's troublesome or difficult to use... well, just check 5. you brainlet and lol x3. 7. Security and fraud protection/transaction reversals. Do I even need to explain? If normie can't call customer support and ask them for help when they shit the bed...nope, they hate it. Lol x4 These are your barriers bro.
Jace Torres
wat? are you some genz fucker that cultural references are completely lost on?
Jonathan Lee
Pretty accurate. Never going to give up on overcoming these obstacles and growing Bitcoin adoption to the few elite normies who will listen though. I'm not going to be targeting the dumbest of government loving redneck at first. Plenty of tech savvy IT guys who love freedom aren't using bitcoin yet, just becuase they haven't been introduced in an easy way (bitcoin BCH that is)
Aiden Murphy
> but if they are backed, then we re not really talking decentralisation, right?
Isn't it possible for holders of a certain coin to pool some cash to build a vault or multiple vaults where gold and other valuables could be stored, thus backing a certain coin with contents of the vault? Guards can be paid with transaction fees and/or dividends. Management of the contents can done through smart contracts.
