Viewing a response to: @jackmiller/has-crypto-really-changed-the-world-as-we-know-it
I think that the biggest issue when talking about crypto changing the world is that folks really mean blockchain. The blockchain is what allows cryptocurrencies to exist. It is what allows the proof of work to be used for good. Cryptocurrencies are just like any stock or share on the markey except that the rise in value doesnt just benefit a particular company. Just look at the recent manipulation of bitcoin, or (closer to home) the wild ride that Steem was on. That wasnt caused by more people writing quality work or implementing programs of social welfare, it was caused by folks buying and selling the currency. I wonder what Steemit would be like without whales and the suckerfish that attend them. Did the whales earn their status through proof of work, or did they just buy at the right time? On a more positive note, Ive seen quite a few members starting their own charities and distributing earnings to the needy. I support a few of them with irregular donations that come from my work on Steemit.
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The potential is there. As with any and all changes through the course of history it shall take time.
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| author | jackmiller |
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I had to sleep over a more in depth answer to this comment, don't hold it against me, the old Commodore 64 on my shoulders is not as high speed as it used to be! I agree with you, when we talk about Crypto we are automatically talking about the technology that makes it possible, hence when we use the term Crypto as I have we have in fact used it as an all inclusive package that includes "blockchain technology". The topic that I addressed is more so concentrating on the "parallel economy" that we call Crypto. No matter how we represent it, Crypto is in fact a parallel form of economy that runs side by side with FIAT. So it is this parallel economy that makes it possible to achieve the things we haven't achieved to date. No matter what the technological advances might be in this parallel economy. In less than a decade I wouldn't be surprised if the technology behind Crypto is nothing remotely close to what it is today, yet Crypto will still be here. I hope that this helps in clarifying my post and the angle from which I used the term Crypto.
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| author | jackmiller |
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Thanks for taking the time to write a considered reply. I appreciate it. Im interested more in useing the underlying tech for good because I reckon that all the time crypto is viewed as a currency, we will fall into the same trap we have with fiat currencies.
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