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RE: Most People in Crypto Don't Really Care About a Financial Revolution
To be honest, Steem is not perfect, either. While it can scale quite well, there is no privacy which is a huge barrier for using it as a currency.
If you use steem for daily stuff, not only governments can see what you are doing, but everybody else, too.
There are lots of problems with steem. There will be innovation and progress.
We might not be on steem in 5 years.
What do you feel are these problems?
Economics, complexity, consensus, graphene.
At least participating in Steem doesn't requires a big mining rig.
Sure but you forfeit some control for that.
You don't have to use a mining rig to be a user of Bitcoin.
Not really sure your point.
This is true. Private transactions should be added as quickly as possible.
Couldn't that be circumvented by trading on the exchanges?
By "using as a currency" I mean that people would start to buy and sell all kinds of stuff with steem. Trading is only very small part of a real economy.
I can't say that private transactions aren't important, only that until that time people can exchange their steem on a trading website and fund their purchases through that, I don't know because I haven't done it yet but I assume that privacy is a must on those exchanges.
Ahh, you mean like that. Well, that of course works, but then people are not using steem as a currency, but only as an investment and then they exchange it for fiat currency or something else to buy stuff.
And it's not only how to use steem to buy, but how to sell stuff for it. Having a third party to go through is usually very inconvenient.
We can have a real economy when steem can be used as a real P2P currency, without any middlemen.
Nobody is using currency as currency though, everyone is using currency as a store of value though, absolutely every single person is doing that and every single currency out there is merely a store of value.
Yes it would be better if we could trade one commodity for another without a middle man and their fees, but a measure of value will never be anything other than an abstraction like an ounce, or a degree, once it's tangible, either in the real world or the digital world, it's no longer an abstraction, or an idea, but an actual thing that can be exchanged/transferred and therefore it's like saying that the ounce or the degree can be exchanged/transferred when in fact it's only an abstraction, an idea which represents something abstract, which can be "created" freely, and without limit, or it couldn't be used as a system of measurement.
Real economy in this world doesn't exclude middlemen, economy in this world requires free trade. I don't think there will be a currency in the world until people understand what is and what isn't a system of measuring value.