Does Crypto Need Exchanges?
Earn Crypto
Why Are Exchanges A Problem?
After watching a recent BCH Boys (terrible name guys, none of us are thinking "beach") vid I found myself compelled to write a post about what I feel we really need to discuss as a community. We don't need exchanges.
One of the number one problems I feel exist in the crypto community is this obsession with treating cryptocurrencies like corporate stocks or commodities. It's money, for buying shoes, movie tickets and all the crazy stuff you're into. You don't buy dinner at a pub with your Apple shares, or your sheep for wood, because crypto is not the game Settlers of Catan.
Crypto has a distinct money-ness that the random junk in your closet does not. To be realistic, at the moment, crypto is not very fungible, because not enough people accept it, but we can all see the huge potential it has to be fungible. Sheep, wood, the hockey stick in your closet and even gold will never have the same level of potential in this.
The key mistake everyone is making is that they are not involved in using it enough. Everyone watches the US dollar and switches out when its profitable, or when they need to buy something. And crypto news is focused on banks entering for moons and lambos. This is not healthy, we don't want the banks in, we don't want any of that old world fiat garbage having anything to do with it.
Crypto will be nothing but a pyramid scheme that everyone "told us so" about unless we make a big change. This change means going full crypto. Rejecting fiat, demanding crypto for services, products and jobs. Too volatile you say? Last I checked, most of the top blockchains have caps, fiat does not. When there are only so many of something it can only be volatile in our minds, because a satoshi is a satoshi, and the effort to produce one is the same today as yesterday. It can only come into existence so fast, and as more people accept it, I can't imagine why it should ever go down in value to us.
Want to make crypto REALLY moon? Don't watch charts, create and engage the new economy.
Permanently disconnecting yourself from speculators is an understandable desire, but unfortunately not a realistic one:
Currencies by their very nature, require exchanges. Both the dollar and gold trade on the global decentralized Foreign Exchange Market, like every other currency in the world.
Don't get me wrong, pushing for crypto adoption is the way to go, and is an active work in progress -- most online shops I deal with locally accept Bitcoin already, but it's simply not possible to disconnect currencies from exchanges in concept.
P.S. It should be noted that major crypto currencies have become comparatively very stable in latest months -- outside of major on-chain speculative events, dollar's moves don't affect them more than the stable FOREX currencies.
Hey eccles, I appreciate your thought out response!
Yes
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