@jeffcliff @11112011 Beanie babies still exist, and they'll continue to exist, but without a bubble in place they'll never be a way to get rich quick.
https://estatesales.org/thegoods/beanie-babies-collectibles
https://estatesales.org/thegoods/beanie-babies-collectibles
@jeffcliff @11112011 What you're saying could have been right, but I think cryptos are like Icarus. They've flown too close to the sun, and now they're going to fall to their deaths.
Look at governments around the world, they're regulating the hell out of cryptos. I think the idea of using them for financial liberation is over. The investors got involved, so the money got involved, so the regulators got involved.
I think the real path to financial liberation will by necessity have to remove the investors and fiat currencies from the mix. In Africa, cell phone minutes became a de facto currency because they represent a tangible service that has value to people, and no institutional investor is going to hoard cell phone minutes. I'm imagining a decentralized computing platform that allows people to redeem tokens for general online storage or processing power within that decentralized platform. people could use fiat currency to buy such tokens not as a currency per se but just as a service, then if tokens were transferrable then they could be usable as a currency.
By doing that, we'd achieve a few things: First, you'd have a real value ceiling and floor for the unit because you're only want to pay as much as the processing power or storage is worth to you. Second, you'd have built-in demand for the token so you aren't relying on investors to inject money into the system and in fact it wouldn't make sense to have investors buy tokens. Finally, I really like the idea of such a decentralized processing and storage platform existing and being something people could use for whatever they want on the web as an alternative to big tech datacenters.
It wouldn't be totally decentralized, you'd need to set up a non-profit to broker access to the platform and to handle getting access, but I think something like that could work while avoiding being treated as a security because it's just access to a good and not a currency by itself.
Look at governments around the world, they're regulating the hell out of cryptos. I think the idea of using them for financial liberation is over. The investors got involved, so the money got involved, so the regulators got involved.
I think the real path to financial liberation will by necessity have to remove the investors and fiat currencies from the mix. In Africa, cell phone minutes became a de facto currency because they represent a tangible service that has value to people, and no institutional investor is going to hoard cell phone minutes. I'm imagining a decentralized computing platform that allows people to redeem tokens for general online storage or processing power within that decentralized platform. people could use fiat currency to buy such tokens not as a currency per se but just as a service, then if tokens were transferrable then they could be usable as a currency.
By doing that, we'd achieve a few things: First, you'd have a real value ceiling and floor for the unit because you're only want to pay as much as the processing power or storage is worth to you. Second, you'd have built-in demand for the token so you aren't relying on investors to inject money into the system and in fact it wouldn't make sense to have investors buy tokens. Finally, I really like the idea of such a decentralized processing and storage platform existing and being something people could use for whatever they want on the web as an alternative to big tech datacenters.
It wouldn't be totally decentralized, you'd need to set up a non-profit to broker access to the platform and to handle getting access, but I think something like that could work while avoiding being treated as a security because it's just access to a good and not a currency by itself.
@jeffcliff @11112011 there's nothing stopping you from moving around cryptos right now, but that's already changing. The bans that we're seeing, The increased regulatory scrutiny that we're seeing, It's not over. The wall we're driving towards is the one where the bubble pops and people start demanding that the government "do something". At that point you might as well be using Fiat for what they're about to do.
@jeffcliff @11112011
Maybe, but I'll be able to send you fiat as well using the exact same rules, or perhaps even less depending on how hard they push back against it when the time comes.
Maybe, but I'll be able to send you fiat as well using the exact same rules, or perhaps even less depending on how hard they push back against it when the time comes.
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@jeffcliff @11112011 pretty confident we're in the same banking regime, so I can just e-transfer fiat to you through email. Works instantly and I don't even pay a fee for the transaction.