How do we transition from fiat to cryptocurrency?

Luke Miller

Luke Miller

New member
Hey everyone,

I love the idea of crypto and see it as a clear solution to the what I personally see as the lifeblood of much much of what is wrong with the world- the financial system.

I do have 2 questions that I have been going over in my mind and they are:

How do we transition from fiat to crypto? Or do we transition from fiat to crypto?

And if we do- how do we stop the same corruption happening?

I know crypto makes us safe from inflation, but how does it stop a similar small group of people still having the majority of crypto and again creating inequality?

Thanks in advance :)
 
Hi Luke,

My opinion on this topic:

1) Hell ye! I think everyone (especially investors) should have some form of exposure to cryptocurrency in their portfolio. It is a brand new asset class with explosive potential. The best part is the ability to transfer value without requiring a trusted third party!

2) I think tackling wealth distribution in crypto (or any other part of real life) is really really difficult because everyone has different views and will sell and hodl less at different levels. I have always been a believer of the power law distribution and believe that 20% of the people in crypto will hold 80% of the total market cap. Sad but true. I think having wealth equality is really hard to achieve from a society and economic point of view, as it does not incentive everyone to work hard; the exact reason why the communism ideology failed.


Thanks!
 
Cryptochindian said:
Hi Luke,

My opinion on this topic:

1) Hell ye! I think everyone (especially investors) should have some form of exposure to cryptocurrency in their portfolio. It is a brand new asset class with explosive potential. The best part is the ability to transfer value without requiring a trusted third party!

2) I think tackling wealth distribution in crypto (or any other part of real life) is really really difficult because everyone has different views and will sell and hodl less at different levels. I have always been a believer of the power law distribution and believe that 20% of the people in crypto will hold 80% of the total market cap. Sad but true. I think having wealth equality is really hard to achieve from a society and economic point of view, as it does not incentive everyone to work hard; the exact reason why the communism ideology failed.


Thanks!
Click to expand...

I guess wealth gaps are not always a problem, it is more the world being in a perpetual state of suffering due to a small group being oppressive. A bit like any new idea, you really have to let it out and see how things unfold.

I think we are in a transitional phase now (not just in crypto space) and more and more people are becoming aware! It is an exciting time to be alive for sure and I have faith that humanity will find its freedom :)
 
Hi everyone! My name is Julia, I'm working on a project about 'merchants and real businesses accepting cryptocurrency'. It's crypto payments processor which avoids losses due to the volatility of the exchange rate by converting cryptocurrency into traditional money in real time for merchants bank account.

We are multycryptocurrency and, of course, we accept DASH. Now we've already working in about 50 real businesses in Vilnius, Lithuania. Among them United Colors of Benetton, restaurants, bars, hotels, shops, barbershops, etc. We are planning to hold a huge festival Crypto Vilnius Day this summer to unify crypto and real worlds :)

Would be happy to chat!
 
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