Crypto Backed By Humans Is a Better Solution
The biggest complaint I hear about cryptocurremcy related investment is that it is not backed up by anything. My counter to this argument is that the major world reserve currency, the US dollar is also not backed by anything. A lesser known fact is that the US was taken off the gold standard back in 1971 with an event called the Nixon shock. It is only paper and worth the value the population assigns it. Crypto backed with labor or investment is a radical shift away from traditional fiat currencies.
Dollars are strictly controlled by centrally controlled governments into global markets . This means if an artist from a place like Venezuela wants to make an album and sell it to an international audience, they simply cannot because of economic sanctions.These old market restrictions change the way things are done with the invention Bitcoin and other crypto currencies. Now, anyone can transact in a peer to peer sense globally with a simple internet connection.
The power of this connection I think can become more difficult to stop as time goes on. Voluntarism is a common mindset with many pioneers in the space. One of the more vocal about crypto and how it can change government interactions is Rover Ver also known as Bitcoin Jesus . Ver first got into Bitcoin after hearing back in 2011 and has been a vocal advocate of crypto currency for the past few years.
With steem's blockchain people can earn with various methods. If you were early to the game, mining was the intial way people earned steem. Now that initial period is over you can earn by posting and interacting with the network, curating posts, selling vote bids, and witnessing blocks.
With these sub-economies already running in a self sustainable manner, many creators and investors alike have drawn interest into the platform. Building brands under a self sustainable and renewable human backed system. I believe cryptocurrencies like Steem are a human backed asset and thousands of other people around the world will eventually share this mindset.
I think it hard for people to understand a currency that can't compare it to anything. Everyone understands trading and physical money and saying that it is back by something just help to understand its trade.
Eventually crypto will make more sense because it will be more commonly traded. Don't you think?
I believe so. We are still upon the "Innovator" stage of the adoption chart. Just takes time, and more people will understand / trust into crypto like they do with FIAT currency. Thanks for stopping by :)
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