This one is an odd Leofinance post, I guess you've realized that by now by the title of it, but it is on my mind for several days and I thought that now would be the time to send it out to the Hive sphere.
I've been in crypto for about five years now and I WANT TO DO THIS FOR MY ENTIRE LIFE. I've made money in crypto, lost tons of it, and made myself a great virtual community through Hive.
Most of the crypto talks that I get with no coiners or folks that are outside of the Leofinance realm and are not much into the fundamentals of blockchain technology are basically "price-relted" talks. This thing is mostly a gamble for many of the peeps that are invested in crypto.
I see this technology, though, as the internet 2.0, or better said, the type of money that Friederich Hayek was talking of many decades ago. That type of technology and form of money that's not in the hands of governments.
There are some things that scare me in crypto and one of them is CBDCs. I know I have said multiple times on my blog that CBDCs are not crypto, but they somehow stole the concept from us. We invented digital money, Ripple created the banks' coin and the elites are now working on the worst type of money that has ever existed.
Not only that CBDCs are "pure government" money, but they're such a rat poison for our freedoms. They need such type of an internet currency, if I may call it like that, in order to be able to gain total control over us, if they will ever be able to achieve that.
What I also don't like and is somehow related to CBDCs is facebook coins. These are also a sort of failed replicas of actual cryptocurrencies, but what creates them is not a decentralized blockchain such as the one of Bitcoin or Hive, it's actually a centralized entity that is renowned for its totalitarian attitude and constrictive nature.
Facebook has billions of active users, though, and that would translate to their coin, if they will ever have one, as having high chances of getting famous and worldwide used. Facebook is a closed ledger, thus such a currency would involve a lot of tracking and spying on its users through the use of it.
The last thing that I want to point out in this odd Sunday Leofinance post of mine, related to the things that scare me about crypto, is missing the point of it... Yeah, missing the point of cryptocurrencies as currencies is the biggest drawback we could have in this industry.
I'm not saying it's going to happen, but too much speculation might hurt utility and the focus on making it a currency rather than a gambling coin. What do you think?
Thanks for your attention,
Adrian