I know very little about cryptocurrency, but from my understanding this thread is mostly on point. Would be interested in views from experts in the areahttps://twitter.com/justinlabel/status/1433630073974894594 …
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Replying to @GidMK
GrepMed Retweeted Alex Gladstein 🌋 ⚡
It’s unfortunate so many smart people are quick to dismiss what they have not taken the time to properly understand. Crypto assets and
#BTC
in particular are the future of finance. Ignore at your own peril, we’re at the adoption stage of the internet back in 1995…https://twitter.com/gladstein/status/1434345356859305991 …GrepMed added,
Alex Gladstein 🌋 ⚡Verified account @gladsteinReplying to @gladstein @joshtpm @paxful5/ Afghanistan: https://bitcoinmagazine.com/culture/bitcoin-financial-freedom-in-afghanistan … Cuba: https://bitcoinmagazine.com/culture/cubas-bitcoin-revolution … Palestine: https://bitcoinmagazine.com/culture/can-bitcoin-bring-palestine-freedom … Togo and Senegal: https://bitcoinmagazine.com/culture/bitcoin-a-currency-of-decolonization … Nigeria, Sudan, and Ethiopia: https://bitcoinmagazine.com/culture/check-your-financial-privilege …1 reply 0 retweets 2 likes -
Replying to @grepmeded @GidMK
I can tell from reading the responses here that few have taken the time to digest more than misleading CNBC headlines. This is the same way medical research misinformation is distorted and promulgated.
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Replying to @grepmeded
I mean, I've spent the last few years reading as much as I could and trying to understand the intricacies - what specific value (aside from decentralization) do cryptocurrencies provide?
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Replying to @GidMK
BTC for starters, for the billions of the unbanked in developing countries, it provides sound monetary policy (protection from the real threat of rampant inflation- lebanon, argentina, zimbawe, venezuela etc)https://bitcoinmagazine.com/culture/check-your-financial-privilege …
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Replying to @grepmeded
Mmmm that seems extremely unlikely on the whole. While it may provide a more solid investment for people who are already wealthy in these places, the reality is that you cannot actually use it as currency for the majority of purchases so of pretty limited value
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Replying to @GidMK
This is actually completely untrue. Layer 2 technology (lightning) is enabling essentially free transactions for those who are unbanked and without credit cards. This has been going on in places like El Salvador for some time.
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Replying to @grepmeded
I can see that there are hopes for these transactions, but as far as I can tell there is not actually much actual use even in El Salvador? Any good links?
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Replying to @GidMK
GrepMed Retweeted Nayib Bukele 🇸🇻
It's about to become a national currency alongside USD in 2 days. Lightning network allows BTC to scale to a completely different level above the base chain. Here's the president of the country:https://twitter.com/nayibbukele/status/1433930609760645123 …
GrepMed added,
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That's cool, but any evidence that people are actually using it as currency? Not just hope (with a strong emphasis on foreign investment)
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Replying to @GidMK
GrepMed Retweeted
Better to think of them as crypto-assets than currencies. 90% are shitcoins outside of BTC and some interesting "distributed" computer projects. But then again so was the web and most startups in the 90s. Too many brilliant people moving into this space.https://twitter.com/levelsio/status/1434530149119135753?s=20 …
GrepMed added,
Verified account @levelsioOne of the main reasons why web3 may be a paradigm shift is that you can see the previous generation get visibly triggered by not understanding it You saw the same thing with previous trends: remote work, digital nomads, startups, internet They were fringe, until they were not https://twitter.com/mijustin/status/1433438211431452689 …Show this thread0 replies 0 retweets 0 likesThanks. Twitter will use this to make your timeline better. UndoUndo
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