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<p>Congratulations!  This post has been upvoted from the communal account, @minnowsupport, by littlenewthings from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows.  Please find us at the <a href="https://discord.gg/HYj4yvw"> Peace, Abundance, and Liberty Network (PALnet) Discord Channel</a>.  It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.</p> <p>If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=102530.639667%20VESTS">50SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=205303.639667%20VESTS">100SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=514303.639667%20VESTS">250SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=1025303.639667%20VESTS">500SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=2053030.639667%20VESTS">1000SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=10253030.639667%20VESTS">5000SP</a>. <br><strong>Be sure to leave at least 50SP undelegated on your account.</strong></p>

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Greetings dear @dses.

You are really brilliant!
This you pose has many edges, but the main theme of your exhibition is totally a success.

The field of use of cryptography is increasingly broad. Every day, every moment are being created and put into practice new ways to include crypto in our daily actions.

For example, in India you are already using a debit card that is backed by your cryptocurrencies.

The effect of the crypto on the world economy is so real that the IMF authorities have drastically changed its discourse regarding the cryptocurrency market and the blockchain in general, alluding to the fact that it is capable of unbalancing the current order of the fiduciary financial market.

Thanks for sharing your valuable article.

Dear @dses

I can't express how much I enjoy quality publications related to blockchain technology. I'm not a specialist but surely I love topics related to this industry. Not to mention my interest with economy.

Your post satisfied my all desires :) hahaha

On more serious note: 

Are you Malaysian? I didn't know that situation there is getting so bad. I noticed year ago that economy is slowing down and it has been build mainly (within few years) on forign investments and construction industry.

With current strict and hostile immigration policies there amount of forign investment shrinked. 

At the same time developers are already struggling: not only with lack of workforce (since illegal workers are gone and local population is way more expensive). But also with huge amount of empty appartments for sale. In Penang I've seen entire  blocks with hardly 10-15 families living in them. 

---

Back to main topic: it would be very unhealthy to have two financial systems living next to each other without any connection between them. Your explanation is right on dot.

ps.
Resteemed already. Plus I decided to set small steem-bounty on your post and share with few friends. Hope you don't mind.

Yours
Piotr

Dear @dses.

Definitely this world of the crypto is so complex but very interesting that we can not lose sight of it and are constantly informed of what is happening here in steem and also in the world in general.

Now the financial exchange I think will always be a big problem.
But currently steem is breaking with that banking paradigm and that is not like the banks, I firmly believe in this type of market called steem which is more direct when making financial transactions, good that your team is working on giving to know this platform, I think I join that because I also in my country Venezuela I know Steem and whenever I talk about this people get involved.

Thanks for this excellent publication

From Venezuela I send you a big virtual hug.
https://steemitimages.com/100x100/https://media.giphy.com/media/3o752eeJF1EMxL8RHO/giphy.gif

As I can read you live in a completely different country with a different banking and tax system as I do.
So far I did not earn 1 cent via Steemit so it will not help me out of my poverty. It also will not help other Dutch people because it is registered and counts as an income. You have to buy tax over it and if you get social help you can be cut and kicked out of the extra help like a food bank (hard to get in they are out of food).

The banking system is fast. If I transfer money to someone in the Netherlands it is there 1 minute later, within the EU/Europe also on the same day.

There are banks (or all of them by now or soon?) Transferring also at night/weekends etc. After all its telebanking.

Cryptocurrencies do cost money here too. To change it + a fee as?? plus it is reported as an income and counts as taxes.

I can not buy bread for it nor rice or beans so...

And if it comes to the business of your friend. It is not that people are not willing to spend that extra buck but they simply do not have the money to do so.

In the Netherlands the present situation is the economic crisis continues (already since years), the prices are sky high and the incomes are getting less. Fewer people are at work earn less and have to take care of more and more people.

@dses, Yes, effective Bridge between Cryptocurrency and Fiat is vital because it will bring the Flexibility and both Crypto Space and Blockchain Space have the potential to gift humanity financial freedom and control. Stay blessed.

Hello @dses!

It is a fact that many of us Venezuelans are subsisting on Steemit and cryptocurrencies. And I'm sure that if there wasn't that downturn in the BTC and the altcoins value, we would all be enjoying a parallel and controversial monetary system that would shake the conventional bank-controlled economy.

>Imagine if you suddenly overpaid your bills and you truly ran out of cash in your bank account; cashless services will not be able to help you without extra service charges.

I don't need to imagine, it's already happening to me most of the time (and I think most of Venezuelans too)

One thing I see in the comments is that not only Venezuela is experiencing an economic crisis. Apparently, the world economic system is being hit too and many countries that one assumed strong, also suffer consequences of the economic crisis. 

I hope that the cryptocurrencies can emerge as an alternative to solve the global economic crisis, or at least give a break.

Very illustrative your post, thanks friend @dses, patience, and perseverance in front of the crisis.

As we say here: *Al mal tiempo buena cara* (Bad weather good face)

https://i.imgur.com/82CCNIE.png

After all, crypto currency is also only fiat.
But better if you have access to multiple fiat currencies because as you write you never know when a government will screw up.
The other way would be gold and silver

Buena publicacion. Gracias por su apoyo, feliz dia.

A good post. A very hard situation. I hope everything will chang and you find the way to success.

It the same in South Africa, especially in cape town, our local currency is worth less and less which is why I have a large crypto holding just in case. I do want to continue stacking and holding crypto since you never know what might happen, banks can collapse and so can governments.

If the cryptocurrency, it really replaces foreign exchange, the real global village, the economies of the world, will be truly balanced.
Unfortunately, governments of those strong country will not give up those foreign exchange income.
Weak countries hope that there is no foreign exchange. If they can replace foreign exchange by cryptocurrency, they certainly support it. Unfortunately, weak countries have no rights.
PS: The weak country here refers to a country that can't stabilize its own national currency, use the US dollar as a national currency, and those countries that have their own national currency but have a very poor currency.

The most interesting article I have read about blockchain. Thank you for this valuable post. I notice the power of blockchain better with this article. States wrong regulations make blockchain bigger.

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> And is not this a starting point to see some light for people in Venezuela for those who want to get back to fiat to get their monthly ration?

Dear @dses, I do not know how to explain this technically, but it is happening in Venezuela something shocking, in my recent research I have discovered that Venezuela always occupies the first places in several lines in terms of cryptocurrency is spoken. This is making us an obligatory reference in the world, it is obvious that the crisis that Venezuela is going through has pushed us to this. I wonder if a collapse of the world economy is needed for the exchange of cryptocurrencies to be bigger and to become the alternative to fiat?

In Venezuela steem and other cryto have really taken many people out of financial distress and this seems to be growing.

> Steem blockchain (and Steemit platform) itself you have proven that platforms can bring people together, and when people are together they have a voice, they have a choice to vote for the medium they can use for exchange.

In steemit we make life a lot of Venezuelans, who thanks to the ecosystem are receiving extra income, have also created several exchange houses where it is very easy and quick to change the crypto to the local monad. This has become a blessing for a lot of compatriots.

Good job, take care of yourself.
Pr EV

Greetings,
Your concern is very noble in your country.
Your observation and recommendation can help alleviate some of your concern, 
especially for the currency part.
We really need to be united around the globe to harness the power of blockchain to our advantage.
The more people from different countries, who use blockchain technology, 
the more decentralized it can be.
Which we hope for the best results.
regards

The bottom line here is the exchange between fiat and crypto. Whilst it is easy to transfer steem back and forth, going between the two is still not easy.
Granted in time im sure this will get better as crypto becomes more widly used.
I hope that days comes sooner rather than later. The people of the world are becoming desperate as it becomes more difficult to put food on the table due to the inequalities of the capitalist system.

Posted using [Partiko Android](https://partiko.app/referral/andyjem)

True talk

@dses. I do agree with you onthe use of blockchain as an alternative cash. However much should be done on improving our economy esp on the rural areas. Even using the conventional bank is hardly reachable by most community at northern borneo.

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