You are all missing the point. What I am saying is that crypto is virtual and it has no substance in the real world. I am still waiting for someone to tell me how the bottleneck of requiring internet access is avoided. My point is that it's not. I'm not trying to convince anyone from spending their money in ways they wish. I am just explaining why I haven't bought any crypto. Maybe I would change my mind and buy some if I could have this glaring weakness explained away.
Cryptocurrency does not need internet. It needs peer-to-peer connections. How you will organize that connections in your community where you want to use cryptocurrency is up to you. Anything will be OK, from conventional local network to pigeons.
You need internet only to use already existing crypto worldwide, and even in that case there are some alternatives like ham radio or hijacked satellites. But you could create your own crypto for your community and use whatever media you like.
I am just explaining why I haven't bought any crypto.
Again same fundamental mistake. You don't need to buy crypto. Moreover, you should not buy crypto. Earn it or mine it. Crytpo is not about buying or selling it. Crypto is what is used to buy and sell things and services.
If you live in USA, do you buy USD? Or you get them as salary or payments? So with crypto. Unlike with USD nobody could block your account, prevent you from receiving or spending it and you don't need a bank for transactions, because you are that bank.
Of course, this fist generation crypto (say, beta version, proof of concept) is in no way perfect and can't be a silver bullet. There are a lot of technical problems and caveats in principles and structure. But it works and works amasingly good. I think next generation (real one, with fundamental imrovements, not like those advertised by some swindlers) of independent cryptocurrency will be much more interesting.
Ok so maybe I am using the wrong word. The "network" is the bottleneck. I choose commodities and assets over fiat and crypto because they are the most decentralized and independent stores of value. They require no network to keep track of, no ledgers, no electricity even. This is the weakness of crypto as I see it. Best of luck to those who have invested money/time/energy into crypto. Hopefully you get it back in kind.
Maybe I'll be forgotten and left behind as everyone else moves forward at the speed of science. I would prefer that actually.
I choose commodities and assets over fiat and crypto because they are the most decentralized and independent stores of value.
Better choose commodities and assets that are generators of value. Tools, land, skills and so on. If you buy a can of tinned fish, you will have a can of tinned fish. If you buy a fishing-rod, you will have an ability to get a fish as you need it.
As for crypto - it is just an alternative mean of exchange. For the world without electricity you obviously should choose another mean of excahnge to trade the fish you catch to something you need.
Anything could be mean of exchange. Preferrably, it should be something that all agreed to use as mean of exchange, divisible, relatively small, and have its own use for any owner. But that's ideal, and only first thing is important. If you all agreed that stainless steel nuts are your means of exchange, they could be perfectly used for that, even if they are not very divisible and useful for everybody.
You are all missing the point. What I am saying is that crypto is virtual and it has no substance in the real world. I am still waiting for someone to tell me how the bottleneck of requiring internet access is avoided. My point is that it's not. I'm not trying to convince anyone from spending their money in ways they wish. I am just explaining why I haven't bought any crypto. Maybe I would change my mind and buy some if I could have this glaring weakness explained away.
Cryptocurrency does not need internet. It needs peer-to-peer connections. How you will organize that connections in your community where you want to use cryptocurrency is up to you. Anything will be OK, from conventional local network to pigeons.
You need internet only to use already existing crypto worldwide, and even in that case there are some alternatives like ham radio or hijacked satellites. But you could create your own crypto for your community and use whatever media you like.
Again same fundamental mistake. You don't need to buy crypto. Moreover, you should not buy crypto. Earn it or mine it. Crytpo is not about buying or selling it. Crypto is what is used to buy and sell things and services.
If you live in USA, do you buy USD? Or you get them as salary or payments? So with crypto. Unlike with USD nobody could block your account, prevent you from receiving or spending it and you don't need a bank for transactions, because you are that bank.
Of course, this fist generation crypto (say, beta version, proof of concept) is in no way perfect and can't be a silver bullet. There are a lot of technical problems and caveats in principles and structure. But it works and works amasingly good. I think next generation (real one, with fundamental imrovements, not like those advertised by some swindlers) of independent cryptocurrency will be much more interesting.
Ok so maybe I am using the wrong word. The "network" is the bottleneck. I choose commodities and assets over fiat and crypto because they are the most decentralized and independent stores of value. They require no network to keep track of, no ledgers, no electricity even. This is the weakness of crypto as I see it. Best of luck to those who have invested money/time/energy into crypto. Hopefully you get it back in kind.
Maybe I'll be forgotten and left behind as everyone else moves forward at the speed of science. I would prefer that actually.
Better choose commodities and assets that are generators of value. Tools, land, skills and so on. If you buy a can of tinned fish, you will have a can of tinned fish. If you buy a fishing-rod, you will have an ability to get a fish as you need it.
As for crypto - it is just an alternative mean of exchange. For the world without electricity you obviously should choose another mean of excahnge to trade the fish you catch to something you need.
Anything could be mean of exchange. Preferrably, it should be something that all agreed to use as mean of exchange, divisible, relatively small, and have its own use for any owner. But that's ideal, and only first thing is important. If you all agreed that stainless steel nuts are your means of exchange, they could be perfectly used for that, even if they are not very divisible and useful for everybody.