| - transparency
Crypto, besides privacy coins is the most transparent you can possibily get. It's a public, immutable ledger. The US can literally go in an change the total supply anytime with zero transparency. And since USD is the global denomination of debt, when i increase my supply it actually makes my currency more valuable since everyone is shorting their own currency (Since their debt is in USD) and inflation leads to asset inflation which is a good thing for the wealthy, but a negative thing for those holding and dealing in USD. = us plebs. - fraud detection See point above, fraud is built into the system. - political sanctions (russia vs. ukraine, north korea, iran...) Political sanctions have been this economic philosophy that hasn't entirely played out in the countries doing the sanctions favor. These economies, due to force have been required to be much more verticly integrated and invest into the economies most hit by sanctions. Sanctions don't do much and the problem is, the more you sanction the less leverage you have. - fairness due to transparency (you pay your taxes, i do: we both pay our fair share of infrastrucutre cost etc.) What is fair about the current tax system? See my transparency point above, all those people trying to evade crypto taxs are in for a rude awakening when the governmeent develops machine learning to track and trade public ledgers... Everyone knows it's a public ledger... exactly the oposite of being descrete. - easy to use (my grandparenst were able to use it) Becausee it started being built when your grandparents grandparents were alive. Most shops didn't accept CC's when they first came out and it took a generation for the technology to preliforate. I'd say crypto has done what the old system did in 1/4 of the time. - save I get 4% APR on my stablecoins. 20+% on my DeFi Pools paid in stable coins. - easy authentication and authorization system (i can get money with my passport) I can provide authorization with a 10 word pneumonic. - globally accepted What is globally accepted exactly? USD? no it's not... it's only acceepted in the US. If i want to do business globally i have to swap to that asset. I not only have to worry about remittance, currency exchanges, trade fees and loan denomination. Terra has the ability to swap between many different currencies using stablecoins with almost no transaction fees. - low transaction fees BTC and Eth have extremely high transaction fees, but any V3 crypto has lower transaction fees than the current financial system.
- self optimizing system due to capital market (one bank can do transactions faster and cheaper than you can) self optimizing system due to capital market (one bank can do transactions faster and cheaper than you can) Play around with some decentralized exchanges, solona or DOT. they can do transactions faster and cheaper than any incumbent, including VISA or the NYSE. |
- Crypto is not transparent. Its continuously mentioned as a benefit of crypto. You should be fully aware of all the methods crypto provides to be intransparent. Tumblers, Lightning network or when you go away from bitcoin, monero is inherent intransparent.
- You might ignore the Efficiency of political sanctions, but the struggles for those people are real. I have been to Iran and have seen it by my own eyes.
- Crypto is still not easy to use. Stop lying to yourself. Go to el salvador and look how they use it. There is only one small city able to use the lightning network properly. The rest of the country doesn't know how to handle it properly. They also have fraud as most of them never got their crypto which was promised to them.
- " 20+% on my DeFi Pools" you should understand better what you are actually doing. You do high risk, low sanctioned, under the radar gambling. Stop comparing 20% of some shitty gambling/ponzi schema to anything real life
- "I can provide authorization with a 10 word pneumonic." wow. I forgot my 4 digit pin a few times in the last 10 years. I literally lost my company password and the muscle mnemonic for half a day. I literally can't lose my passport. My country will make a new one for me. Try to rememeber your 10 words when you are 70. Try to make sure that you do not enter your 10 words in a system which can transparently steal your money as soon as you tell it your 10 words.
Have you ever spend the amount of time you spend on learning about crypto to learn about fiat?