Why do people value their portfolio in Fiat? *Also Update to Ausbitbank Witness Campaign*
This post is a bit of a pseudo rant, so bear with me.
We are all here, for lack of a better saying, to "Stick it to the man". To be rid of centralized banks, centralized communities and money hungry monopolies.
So answer me this, why is it that the vast majority of people still reference everything back to the US Dollar? It seems counter intuitive. I know we have to reference something seeing Steem isn't really a valid currency for day to day life yet.
I know for myself, I have started to try and break the habit of thinking in US Dollar (or Aussie Dollars) and try to break things into BTC. My Blockfolio app shows my portfolio value only as a measure of BTC, which i must say at the moment is a tad depressing thanks to stoopid China, but nonetheless its training my brain for the day that we can all use crypto a lot more in day to day living.
So instead of posting to a forum asking "I have $300 to invest, what should I do?" try posting "I have 1eth to invest in alts, what should I do?"
Also, my response to these people is more often then not "Do your own bloody research, stop asking stupid questions"
Have a great day.
Also as a post script and a follow on from yesterdays post, it appears we have all banded together and got our good mate @ausbitbank into the top20 witnesses. Thanks so much for the excellent response, its great to see a community work together to honour their legends.
Hopefully we can honor our legend and be a good friend, thank you for posting
Well gohba.handcrafts, we at Community News are certainly not ones to kick a dog when it is down. When it is dead though - we will be sure to give it a proper burial.
Suppose you have already heard that US Government Debt has now surpassed $US20,000,000,000,000 - you have to hand it to the yanks - they sure know how to run a printing press.
COMMUNITY NEWS
I think the value of FIAT is far more stable than cryptos. In daily life that means that there there can be confusion if you offer someone a price, that is just valid for a few days because of rate fluctuations.
Far out I thought you had 18 million usd there for a second and I was like what the hell you doing posting here? Go buy an island or something hahaha
I suppose I'll value my portfolio in fiat until the day I get paid in crypto or crypto becomes less about investing and more about daily transactions. Today I wouldn't dream of using my coins to buy anything even if I could. HODL!!!!
Oh and great news about @ausbitbank
This post has received a 1.04 % upvote from @drotto thanks to: @banjo.
Stability and a familiar reference point people can put in everyday terms is probably the main reason people think that way ... but I see your reasoning and it's a good point..
As we buy more altcoins though which are via btc or eth - I think it is becoming more common to think in those terms.. but yeah it's hard not to go back to reference "what is that in dollar terms"
A thought provoking post as usual.
On the topic of ausbitbank.. cudos for you rounding the troops up to start with!
Congrats to Ausbitbank for hitting top 20
woot! woot!
@ausbitbank is one of my favorite witness and I had already voted for him sometime back.
You are one of my active followers and like to thank you in a shout out.
Newbie Nuggets: Using Spectacles To Enhance Engagement With My Followers