>Crypto may well be the biggest solution looking for a problem I've ever seen.
People don't understand crypto yet... play around with it a bit.
Things not possible in the current financial system:
- Participate in a crowdlown on polkadot.
- Play around in some DeFi. Earn yield on two assets.
- Store some files hyperlocally and encrypted on peoples laptop with filecoin. And learn how persistant indexing will help the internet be more resiliant.
- Sell some data using ZKsnarks.
- Query the blockchains persistance with the graph.
And if you don't do any of the above and you still hate crypto, just do this for your future self.
- Write a smart contract that sends some coins back to your wallet in 10 years.
If you're correct in your opinion, you get to make fun of all your friends who spent a percentage of their portfolio in the crypto space. And joke about how they should have cashed out in 2020.
But if you're wrong, you have missed the technological innovation of your generation and the potential to shake up the class system.
for the rothchilds it represents .00001% of their total wealth.
The rothchilds keep their wealth in art, land and gold and why they have managed to stay rich for so long.
I can point to atleast one person who's class shifted and that person is me.
Also, you cherry picked one point among many and misunderstood it. Although there may be some of the financial elite who bought in early in BTC and crypto (Especially A-Z) there was alot of nerdy technologists among the winners. Also, alot of those winners have gone to set up hundreds of crypto companies who might even be more centralized.
Anti-centralization isn't the point i was making, it was a redistribution of that centralization which obviously can never be supported with hard facts but rather a feeling and subjective experience i've had with crypto billionaires.
What you're saying comes down to "it might make the problem of inequality and class worse, but hey maybe I'll be on top this time".
I suspect you're having a hard time getting people to sympathize and are receiving a lot of pushback because that is an incredibly selfish view that makes people dislike what you're proposing.
You're coming at if from an angle of fixed pie wealth, then yes. It might make inequality and class worse. But if the total wealth on planet earth is not fixed and you can create wealth through technological innovation, network effects and solidarity then no, giving the technologically driven nerds alot of money to do cool shit with hardly makes "he problem of inequality and class worse".
Edit: Also, your WSj article is bullshit. I believed you, but that analysis is a bold faced lie and cherry picks alot of facts to arrive at the analysis. OFC all the exchanges are going to appear to have alot of btc and since they are "Actively" trading it, that's the only accounts showing up on the analysis. Most of the BTC owners are maxi's - they don't move or use their BTC. Look at a real wallet distrobution and exclude sitoshi's old wallets cause everyone is pretty sure those are lost to the world. BTC distro is ALOT more decentralized than the USD.
People don't understand crypto yet... play around with it a bit.
Things not possible in the current financial system:
- Participate in a crowdlown on polkadot.
- Play around in some DeFi. Earn yield on two assets.
- Store some files hyperlocally and encrypted on peoples laptop with filecoin. And learn how persistant indexing will help the internet be more resiliant.
- Sell some data using ZKsnarks.
- Query the blockchains persistance with the graph.
And if you don't do any of the above and you still hate crypto, just do this for your future self.
- Write a smart contract that sends some coins back to your wallet in 10 years.
If you're correct in your opinion, you get to make fun of all your friends who spent a percentage of their portfolio in the crypto space. And joke about how they should have cashed out in 2020.
But if you're wrong, you have missed the technological innovation of your generation and the potential to shake up the class system.