The right way to think about cryptocurrency coins is as lottery tickets that pay off in a dystopian future where they are used in rogue and failed states, or perhaps in countries where citizens have already lost all semblance of privacy. That means that cryptocurrencies are not entirely worthless.
RT @nlw: Dystopian va Utopian crypto visions.
This essay floating around today is super interesting to me from the standpoint of crypto’s interesting tension between Utopianism and assumptions of inevitable dystopia.
So instead of speculating, a couple polls 👇
RT @SamuelPatt: This piece has some truth to it.
If Bitcoin becomes useful enough in less free countries it could act as a check on more free countries becoming more restrictive. Bitcoin and associated technologies could be like an economic relief valve for bad governance. https://t.co/3ruKDbueKA
mungojellyCrypto God | BTC: 281 QC | CC: 15 QC1 year ago
This doesn't consider the BSV plan to absorb the old economies rather than resist them.
Hysterical. Yes they have a particularly strong use case in any country with banking issues or >20% inflation, given levels of debt won’t be long before that’s a major world economy.
The lightning network also gives it a use case as digital cash just in case using the traditional financial system & paying a fortune, waiting days and going through red tape isn’t on every millennials to do list.
Additionally it’s the reserve currency for the myriad of DAPPs that have only started to be introduced, so even if other blockchain use cases take off, BTC will benefit as the gateway currency in the blockchain economy.
It’s better to think of it as insurance. You buy a little bit hope you never need it. If there’s a global economic meltdown, there’s no lambos or living high, just a decreased quality of life for everyone.