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RE: My Steemit Challenge: Can One (a Malaysian) Earn Enough for a Down Payment of a Place of Your Own? 在大马用 Steemit 可以储蓄买房首付吗?
Since coming onboard the Steemit platform and earning in SBD, i am beginning to realise how fiat pales in comparison compared to cryptocurrency. Not only the rate of appreciation is ridiculously slow, but it is the way how it is distributed as well. Earning in crypto and spending in fiat is becoming increasingly real. All the best saving up for your dream home!
Thanks for your well wishing @karinzdailygrind !
It is a wonderful idea about the "earning in crypto and spending in fiat" lifestyle; however, I personally believe this is only the transition since the fiat government is already doing its best to turn everything into a currency paperless society since 21st century begun.
So what is more practical is that we can actually trade, buy / sell in crypto maybe based on the fiat's exchange weight for real world goods; where that gives us an alternative way to settle our daily needs.
Having a one way earn -> spend mindset will not last long as the crypto coins that are exchanged for fiat will ultimately be overflowing, hence its value will turn into over producing and not really circulating.
So as much as I love to change it all to fiat and put a down payment for a house, I would be more excited if it is transact between 2 steemians thus reduce all the unnecessary fiat and banking charges, minimising to only paying relevant tax and service charges for those who did the pain staking paper work for purchasing a home.
That, would be really awesome.
Very well said @littlenewthings. Earn -> Spend mindset will certainly not last long once it starts to go mainstream. It may even devalue the cryto coins further. So what should one do to leverage on the rise of crypto?
That is where phase 2 needs to work, with every #teammalaysia member working together in our Discord