What advantages do cryptocurrencies have over the traditional currencies?

in #crypocurrencies6 years ago (edited)

Freedom of Money.png

from the eyes of the end user?

quick and easy transaction across the world with exponentially lower fees, choices and lack of oppression, full control over our own money, cash that is digital.

In some places their national money has no value, that or (like india) can change anytime and potentially kill people (the starving poor because overnight all their life savings becomes valueless). Cryptocurrencies allows them to opt into alternative financial systems that is not controlled by their governments.

online banking isnt cash, it's credit. it's money that the bank say you own but they are the ones actually controlling it (which they do, using your money to do their own business) and have the power (per the agreement you signed) to take away those money anytime of the day with or without reason.

without too much technical speak, cryptocurrencies are also cash that you can program if you know how to do it (and the knowledge is free to learn). that means you money can do things by itself without needing notaries and lawyers if you create a smart contract.

Just imagine what the internet did to libraries and newspapers. Cryptocurrencies are doing to banks and financial sectors (including government financial departments).

Libraries of the past are limited to the collection they have, and is heavily censored in countries that oppresses it's people. you can find books about human rights in countries with cruel governemnt etc... And newspapers are the population's only source of information, which is heavily vetted and in almost every case, serves as propaganda.

The internet made sure people now have the choice to get their information. North Korea and Cuba for example can now read about human rights as long as they can find a way to connect to the internet.

Cryptocurrencies are going to further these freedoms exponentially.

Refugess for example, only need to memorise 12 words to bring along their life savings when escaping war or famine. And can spend these money in the countries they seek refuge in, potentially bootstrapping themselves with capital for new businesses to help the economy for example.

I can go on and on if you want but these few points are enough to get people considering to opt in to the freedom of choice.


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you're so right my friend, in venezuela we have many people thanking the appearance of cryptocurrencies, as our currency is devalued every day many survive thanks to steem / sbd and as you say the advantages of cryptocurrencies are many such as: transactions are instantaneous, are safe, are exempt from taxes and also facilitates international transactions and remittances, something very used by Venezuelans in these times

Exactly my brother!

You should keep telling the story of how cryptocurrency is making your life and your society better despite the stupid shit Maduro is doing to your whole country.

Venezuela today is exactly the reason why Bitcoin and Cryptocurrency was made. Keep telling your story because I believe people will quote stories like yours (now it's so easy because it's on the Steem blockchain) as proof of the good things cryptocurrency has done.

I for example will certainly find a way to talk about you and your fellow Venezuelan Steemians when I talk about Steem in the future.

Steem On!

Thanks for those words and for the support my buddy, I will also talk about all the people like you who they support us and they are aware of what is happening in my country

I do my best. IMO more people needs to know. Because they feel so secure thinking the same thing wont happen to them just because it haven't happened to them. from what i read in history Venezuela used to be a very rich country even before the oil industry.

What's happening to your country really is a preview of what would happen to all the governments today that are not doing a job even if their economy is stable.

exactly my friend, Venezuela was a country power for a long time, unfortunately the last years came down but I hope we can recover from all this
what my country has to do to make other countries look in the mirror and make the same mistakes

I hope you do. And I hope it doesn't end in bloodshed.

Love this! As someone new to crypto it's overwhelming to find digestible information. I"ll be following along now :)

Great! I'll try to talk more about what cryptocurrency is for the total beginners. I admit that information - though plenty as it is, is hard to find for those starting from zero. Most accurate information are way too technical and dry for beginners whereas the easy-to-digest ones are often misinformation.

I highly recommend you follow @heiditravels especially on her video series called "cryptotips" for all things crypto.

But do feel free to read my stuff as I come up with more crypto-for-beginner guides and advises.

Have a nice day and steem on!

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