To fiat or not to fiat, that's the question
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Cryptos are falling sharply. Why?
Maybe it's time to take a closer look at where we are right now, instead of into the whimsical future...
Facts.
We use fiat as evaluation units when we look at the crypto prices. Maybe some XXX/BTC XXX/ETH prices are considered too, but when the world seems to be falling apart, no one cares about crypto2crypto prices any more.
When ICO 'fails', the new toy in town is the STO which is deeply connected to the fiat world.
When BTC price is stagnated, everyone expect more fiat to flow into crypto via something like ETF
You CANNOT live off crypto entirely in 99.999% of the world without converting it into fiat
The so-called "stable coins" that aim at following the value of ...... yes, fiat.
Come on, guys. This is not the revolution we are looking for. This is not the world that Satoshi Nakamoto imagined. This is not even close to the full potential of the blockchains.
Why fiat is so powerful? Because it's what most people all over the world want now. It's as simple as that.
Crypto needs to be a much more powerful candidate to compete with the fiat status quo, and this takes time, effort, pains and vision.
Hence, it's so natural to see this fake crypto world falling like it is now. Crypto is now like a sidekick to fiat, surviving off of the incumbent giant monster with little revolutionist look on their faces.
The good news is that crypto will never die. Why? because the seeds were planted all over the world and they are growing and growing without much awareness from the pubic. One day, this world will be so powerful and challenges every financial order that we know of.
But that day is not today, no tomorrow, not next month, and not even next year.
Now we have to go back to where we came from - the old economic order. We may have to continue the way we live, but we are all different now and we know there are so many out there like us...
Waiting for the D day to come.
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In other words: Rome wasn't built in a day.
Anyone who expected crypto to overtake fiat as the dominant world currency anytime soon was deluding themselves. Change will happen, but it's not overnight. The bubble was bad for us and set things back a year. The market is finally returning to where it should be. Now progress can resume. Slow and steady wins the race.
may the best solution win!
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When the bull was around, everyone thought the mass adoption is happening. But yeah, market has shown us we were not even close.
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mass speculation happened, mass adoption did not. >_<
Disregard fiat, acquire cryptos, especially at these prices. :)
But yes, we are still at the beginning of the journey when we talk about cryptos.
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yeah, the mission is much harder than we thought.
YES.Finally someone said the right words.
All these guys think they will get rich in one year.
Resteemed bro and keep steeming.
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thanks! two years then!? lol
Just a matter of speech.
Right now you can't get rich by crypto.
You could last year with that huuuge bull run but right now if you invest,you will wake up the next day with less money.
I can't see a bottom in this fall for the next months.
All projects will propably go to ICO prices or even lower.
Thanks for your time bro.
People still care a lot about fiat. Most people only want crypto because of how much fiat they will be able to sell it for in the future. That pretty much says that people actually prefer fiat despite all the problems it currently has. In other words, people are not in a rush to destroy the current financial systems; they are still comfortable in it.
yeah, and there is also a huge coordination problem - that's why it's a revolution.
What you said makes a lot of sense, but I'm a bit confused about one thing - the crypto seeds are growing without much awareness from the "pubic"? 😱 So are you seeing them as babies? Otherwise just see me as a "checky" service, you are welcome beauty Liu~ ;)
哎，我英文不好啦，您還是說中文吧..... :~~~~~
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We need a new generation of crypto and blockchain that would make it very easy for even my mum to use on a daily basis. Then people will start accepting it as a currency in the real world and that's when things will start to change.
By the way, we would like to let you know that SmartVote is now accepting posts in Chinese Mandarin and Cantonese. So you are welcome to try us again.