Fiat Money vs. Bitcoin
I imagine Steemit would be interested in my recent interview with Ken Shishido of the Tokyo Bitcoin Meetup Group. We were trying to introduce some of the basics of monetary history and the value of cryptocurrency to a non-specialist (and largely skeptical) audience. How did we do? What did we miss? And I'd be interested in your thoughts about how the Steem Dollars / STEEM / Steem power ecosystem compares and what monetary role it may have in the future.
SHOW NOTES:Tokyo Bitcoin Meetup Group
Japan Bitcoin YouTube channel
Ken Shishido on Twitter
Bitcoin open source implementation of P2P currency (Satoshi introduction)
Cryptocurrencies seem to be a valid alternative to fiat currencies printed by nations however has the debate about whether gold/silver are still king been concluded? Bitcoin/Steem etc seem only valid when everyone plays nice. However exchanges and computers can be hacked or manipulated. And as result the digital value can be forced to zero fast. It's much harder with tangible metals.
This is a good question! How it is the World now (and the way we are heading) I would trust more in Gold or Silver, something more tangible than the Bitcoin/Steem that not only need electricity also internet.
Bitcoin will be very big. It's being featured in all TV shows including "MR. Robot"
were still at a point where the majority of people still don't know what cryptocurrencys are, let alone how to use them or what the true power and advantages of using them are. Its just a question of reaching the wider audience and having things simplified so the less computer literate could easily use them . These bankers have stolen from us and manipulated us for to long . Its just a matter of time before people wake up and smell the cryptocurrencys : )
It's not just that they don't know anything about cryptocurrencys but they are afraid of them because they are made from nothing. Little do they know that all currencys like the dollar the euro are produced out of thin air too.
very true
And yet every numpty and his dog has a 'smartphone' full of apps. Figuring out how to use cryptocurrency isn't a showstopper, creating a reason for the numpties to bother - that's the largely unmapped territory.
As I just blogged about on here, creating printable crypto-currencies like the Japan Bitcoin group is doing, is the final step we need to accomplish to allow crypto-currencies to become a viable alternative to the Federal Reserve / World Bank system. Great interview James.
For my sake (and everyone else's), do you have a link to that blog?
https://steemit.com/money/@titusfrost/how-to-end-the-federal-reserve-using-article-5-of-the-u-s-constitution-and-crypto-currencies
In June there was a meeting at Federal Reserve. Adam Ludwin from chain.com explained cryptocyrrency to more than 100 central bankers from over the world.
Worth to look: http://blog.chain.com/post/145509298356/why-central-banks-will-issue-digital-currency
While I'm sold conceptually on cryptocurrency and I firmly believe it's here to stay in one form or another, the UX has a very long way to go before any amount of mass adoption will occur, IMHO. One thing that really irks me is that, due to the current price in say USD per BTC, user's are forced to deal with fractional notation to conduct standard transactions. The average person is not going to easily grasp the concept of Bitcoin fractional units. And this is compounded by the fact that block-chain transactions are non-reversible "push" transactions, thus the consequences of mistakes are solely the responsibility of the user. Still, I believe the open-source communities and cottage industry springing up around cryptocurrency will no doubt solve these issues!!!
For future editions, would you consider adding a link to your Steem post in the description below your video on YT?
This way both communities will benefit: YT hosting the video and Steem hosting comments and more in-depth discussion.
Good idea, and yes I will do that going forward. Just brand new here this week so haven't had a chance to link my Steemit posts before.
I believe that bitcoin is real money, while fiat it's not.
Hopefully Steem Dollars play a major role in the future!
nice post , thanks
Nice Idea, keep up.