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RE: Groceries & Lambos: The Basics Of Crypto-Economics...
I'm often left scratching my head when people say that cryptocurrency will be a massive shift of wealth and power away from the Wall Street banks and finally to the "people"
Can someone please explain...how?
I've seen statistics that say that cryptocurrency is owned overwhelmingly (something like over 90% percent, but I could be wrong) by white men with computer science backgrounds. This number may be outdated since the most recent bubble that is now a few months old.
Aren't we taking money away from rich white guys on Wall Street and giving it to rich white guys in San Francisco?
What happens when one bitcoin is worth millions and villages in rural Africa start using it? Won't the wealth gap have widened much more?
like this.
myself and @stellabelle come to mind as two examples of people who were struggling financially two years ago, to have their finances completely turned around due to the possibilities a platform like this enables. Note: she is a woman. And neither of us have computing science backgrounds.
and with the Steem Power accumulated, we've both been supporting writers in Nigeria. a few bucks per post, and we've replaced their monthly incomes.
zoom out and see the bigger picture of what projects like Humaniq and OmiseGo are doing. or what small differences remittance projects might actually be making.
consider what's to come from projects like Earth Dollar implementing basic income programs.
or what blockchain applications in the music industry - Steem's own dSound included - may be doing for musical artists, opening opportunities to exit the starving artist loop.
little by little. step by step. with people engaging, contributing to, and leveraging platforms like these.
that's how.
You're right. My initial comment was ignorant to a lot of those projects, all of which I learned about and Googled for the first time after reading your comment.
Looking back, I was referring to something much more basic--the mind-bending appreciation of so many coins. I was not necessarily considering other applications of blockchain.