Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Pheonyx on May 02, 2018, 03:55:39 PM
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Some believing that crypto is better than phisical one because it is more secure? Do you have any thoughts to share about this.
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in terms of security:
intangible digital money, not directly supervised by the government so no one will change data and corruption.
while tangible cash money, directly supervised by the government so that it can be changed and vulnerable to corruption.
for transactions is also easier and cheaper through digital money than cash or bank cash.
transactions can be done anywhere either outside or within the country
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In my opinion crypto is not better than fait for now.
Everything we do in the crypto world is to make our fait more valuable, for example you invest with fait and in turn want to get high return of more than 100% of your investment on crypto in fait. I stand to be corrected.
However crypto have added advantage compare to fait like decentralized ecosystem, anonymity and task evasion.
Yea i call it task evasion because you don't get to pay task for your earning in crypto, you may only be charged if you are willing to declare you asset which is rear.
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I dont know if I would call it "far better". I think the two are generally very different. There are many advantages to crypto including transparency, corruption free and no fees for international transactions. But I think there are still some things that need to be worked on. Also, fiat has it's own advantages too like not having to rely on technology at all times.
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In some part crypto currency is more better than money.
If the private key lose, your coins will lose forever. If the wallet got hacked your coins lose forever.
While money is not like that if you lose money still you have some. You can expect to receive regular salary.
Both have advantage and disadvantage.
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I think the history of cryptocurrencies and digital currencies, in general, give us some clues to answer this question. If you read about the cypherphunk movement (https://en.wikipedia.org/wiki/Cypherpunk) and the early days of crypto in 2008 (https://www.wikiwand.com/en/History_of_bitcoin), you understand a little bit better the upgoing change.
What follows simply is my understanding of it. Bitcoin was created in 2008, in the wake of a global financial crisis largely due to how our governments handle money and debt. The first and main goal of Bitcoin was to take control back over the money to prevent this kind of scenario from unfolding again.
After the crisis, nothing was really done to address the reason for this systemic crash. We are now getting close to another crisis. It will certainly be even more dramatic. Except this time, cryptos have been around for 10 years already and have been gaining traction.
The result of the crisis might be different. Instead of a patch-up to keep going, we might see financial markets going red, driving an unprecedented crypto bullrun from pensions and companies investments.
Cryptos are getting ready to take over. Any substantial crisis in the political, social, commercial or monetary system can now start a series of event that will see decentralization and blockchain take over the previous and crooked institutions.
It might even come from religion, video games or porn, who knows? The human nature is strange, and the blockchain is potentially the most disruptive invention as it addresses the most critical issue of the human race: our inability to reach consensus at scale.
In a fully decentralized and distributed world, we, as a society, might function more like bees: each individual with its free will, but choose to cooperate to the whole for its species and its own good. I think the power of decentralization will be apparent to everyone a long time before that.
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The thing with cryptocurrencies is that you always need internet to transfer P2P. Not necessarily the case with fiat.
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I think the history of cryptocurrencies and digital currencies, in general, give us some clues to answer this question. If you read about the cyberphunks movement (http://tps://en.wikipedia.org/wiki/Cypherpunk?) and the early days of crypto in 2008 (https://www.wikiwand.com/en/History_of_bitcoin), you understand a little bit better the upgoing change.
What follows simply is my understanding of it. Bitcoin was created in 2008, in the wake of a global financial crisis largely due to how our governments handle money and debt. The first and main goal of Bitcoin was to take control back over the money to prevent this kind of scenario from unfolding again.
After the crisis, nothing was really done to address the reason for this systemic crash. We are now getting close to another crisis. It will certainly be even more dramatic. Except this time, cryptos have been around for 10 years already and have been gaining traction.
The result of the crisis might be different. Instead of a patch-up to keep going, we might see financial markets going red, driving an unprecedented crypto bullrun from pensions and companies investments.
Cryptos are getting ready to take over. Any substantial crisis in the political, social, commercial or monetary system can now start a series of event that will see decentralization and blockchain take over the previous and crooked institutions.
It might even come from religion, video games or porn, who knows? The human nature is strange, and the blockchain is potentially the most disruptive invention as it addresses the most critical issue of the human race: our inability to reach consensus at scale.
In a fully decentralized and distributed world, we, as a society, might function more like bees: each individual with its free will, but choose to cooperate to the whole for its species and its own good. I think the power of decentralization will be apparent to everyone a long time before that.
Thank you for providing this article. It is self explanatory.
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Yes. Crypto is much better than physical money. Coins are not created to destroy easily while fiat can wrap without force to apply. Crypto is more convenient to use not like fiat more hassle on it in some important appointments.
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I think the main advantage of crypto is the trustless part. So many abuses occur when you have to trust institutions (printing too much money, market manipulation, lies about the metrics....).
With cryptos, not only all of this is gone, it's not even possible.
I think it will be very nice for regulation too, to fight tax fraud and evasion for instance in a few years.
It's funny how mainstream media tried to paint a picture of cryptos as shady stuff, while most off the shady stuff in the world occurs with cash (drug and weapon deals...) or through the regular banking system. (EU/US companies working for Syria or other regimes for instance)
I can't wait for the cleanse to arrive, Banks, Insurance, States, Legal Infrastructure, Religious Institutions, all of this need to disappear in a slow death transitioning to crypto. In the end, all institutions will be decentralized, trustless and distributed.
Crypto offer us a second chance to fulfill internet's initial promising: break down the border, connect people and finally offer the human race a way to organize without having to trust anybody else but their peers.
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Some believing that crypto is better than phisical one because it is more secure? Do you have any thoughts to share about this.
There are many reasons why crypto is better than fiat, reasons like decentralization, fast payments, crypto world resolve the problems fiat created before.