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RE: Bypass The Banks! - How Steemit and Bitshares can give us monetary freedom
Great post Matthew. Especially this part -
"Even though crypto gives the promise of peer-to-peer money, we still automatically think about how to use a bank or a credit card to get crypto" -
I've noticed this in my social network as well. It's almost second nature for people to load up their coins and go to coinbase when they want to sell. When I tell them that there is likely a deep network of peers around us that would be interested in paying them directly for crypto with no fees I can tell it had not even crossed their mind. The cultural programming of financial institutions runs very deep. Posts like this help clear up the misconception that individuals need financial intermediaries in most situations.
I totally never thought to ask around when I needed to sell for fiat rather than going to Coinbase, but then, I am the only in-person person I know who has started using crypto!
Interesting, but how and where would person-to-person transactions involving fiat occur?
With other people you know who have crypto or who want to buy crypto from you. If you've made SBD, you can sell them to your friends and family in person (in your living room, if you'd like).
^^^ This. For bitshares or steemit you just need the person's human readable name. For other cryptos you can send to the other persons public address for cash or services or anything! If you don't have any peers in crypto... well then it looks like you've got some people to share crypto with!
ok, good point. maybe we don't know as many people anxious to get into crypto as you!
Hey @john-robert. Thanks for your active participation in the comments section of this post. I appreciate it! #BypassTheBanks!