cryptocurrency

[rayray]

(04-03-2022, 02:37 PM)crimsonghost747 Wrote: excellent post ray. It is indeed endless. But I'll pick up on a few parts: Brave. Yes it's the best browser there is, period. Beats anything provided by the big boys. (Microsoft, Apple, Google, etc) But that's because it does a lot of things those big boys don't want browsers doing, such as the user being able to control what information is given about them and to whom.

And from there I can quite easily jump to another question, where does all this come from? Well bitcoin itself was supposed to transform the global financial system by being able to send money from one side of the planet to the other side in seconds and essentially without any fees. It only succeeded to do that for a while, and it's currently not able to do that, but it was proof that this technology CAN be groundbreaking.

I think it really boils down to three things:
1. transparency is currently almost non-existent in our financial systems. with most blockchains there is FULL transparency.
2. control. Centralized is nice and easy, but next thing you know is that you're protesting for your freedom in Canada, always considered to be one of the "most free" countries out there, and the government shuts down your bank account. Not cool.
3. technology. We figured this pretty cool piece of technology that can do so much more than just act as a currency. The big institutions (whether we are talking about finance, music or anything else) aren't really interested, since change is scary and they are making a billion dollars in the current system.

yea, canada locking down accounts was really scary--i did not like that happening--it proves how quickly freedom can be removed.

crypto is about as transparent as can be without your name or other important data being mentioned--crucial imho

certain crytpo is FAST, unbelievably FAST--some people might say whoa whoa whoa, i can transfer my money immediately--well--yes and no--it might seem that way but there is a hold and it can take days--but if one is in good standing that money can be used before it hits that other account in some cases with 'normal' accounts

i wanted to see how easy it was to transfer back into fiat--i transferred a small amount to bianance.us then waited a bit then transferred that same amount back into my regular account

this is mostly just a test/experiment for myself

it's interesting and keeps my mind occupied 

plus i got tired of not understanding what people were talking about--AND--hated when i asked--what does it do? the answer--it does whatever you want it to do--WHAT??? that tells me nothing--so i decided to play with it

bitcoin was created for one purpose and became something else--STORE-OF-VALUE--i don't think that is going to change anytime soon, maybe never

ETH (ethereum) is like the platform/network that others use to build

ETH2 is long awaited upgrade to make it faster and cheaper

other ecosystems not built on ETH/ETH2 will bridge themselves to it--interoperability between blockchains--something that is needed

if one wants to learn/try crypto--there's no reason to go beyond BTC/ETH/ETH2 imho