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RE: Did You Know You're Part of a Financial War?

in #cryptocurrency4 years ago (edited)

Awesome post. I expected nothing less though when I saw you were the author.

A couple of things crossed my mind as I was reading this.

Your idea in the screenshot that prices will skyrocket when more people are using cryptos directly to make purchases rather than converting to fiat.

This is true. Yet, we need more opportunity to be able to do that. With bitcoin a barrier that has made this unattractive has been the fees required to even use it. They have been working on this, so hopefully is not an issue. With steem and others this is a non-issue.

I immediately thought of the rumblings that there is a chance that Amazon may soon start accepting payment in crypto. If that occurs then what you suggest is something that could occur for most products, unless people don't want to support Amazon. They could buy most purchases there if that happens and crypto should skyrocket.

Now all of that requires that Amazon or many other places start accepting crypto.

DTube is also something people to realize. It is a great application, but it is not viable for long term storage of videos as many people are now realizing as their videos from awhile back are no longer playable. This is okay, D.Tube is still great. People simply need to get into the habit of not putting their eggs all in one basket. When embedding a video into a post, why not do multiple copies of that video each hosted at other video services. There are many to choose from an it is unclear which will dominate in the long run. Gab.ai supports video now, bitchute works, vimeo is corporate but hasn't begun censoring yet, and there are products with big backers like real.video in the works. It is unclear which will dominate. We should use D.Tube, but if you are concerned about long term storage you should store it in additional video platforms as well. Though even those have potential flaws that haven't been worked through YET. So until things stabilize and something clearly exists with most problems resolved use multiple sites for you videos and you'll do much better.

Anyway, great post Luke. Keep up the good work.

EDIT: We are all part of an information war as well.

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Thanks so much, @dwinblood. I spent a lot time with my business trying to get merchants to accept and use bitcoin. It was a struggle. Amazon could open up the option and have nothing happen. Overstock has had the option for a long time and even now, if I want to buy something on Amazon with bitcoin, that can be done today with services like purse.io and gyft.com.

The key is the consumer. We as individuals have to demand the merchants we interact with accept cryptocurrency. We as employees need to demand we get paid in cryptocurrency. We as vendors need to demand our contracts be done in cryptocurrency. When the circle is closed to the point where we value things in terms of cryptocurrency (not their USD equivalent), that's when things will really change. From the perspective, the price of BTC going up or down relative to USD won't matter.

We are all part of an information war as well.

Economics and finance are proxies for human psychology which is all about information, so you're exactly right.

We do need to think in terms of cryptocurrency rather than their fiat equivalents. We do need to move this forward by sheer force of will.

While word of mouth educating and enlisting is something we can all do, I'm wondering if there's any kind of coordinated effort in the works, for STEEM in particular, or for cryptocurrencies in general, to do outreach? One voice or message we can unite behind, if we so choose?

I've read of some possible marketing campaign in the works, but I haven't seen an official update regarding such a thing, or even an unofficial one.

Many see that as premature at this point. STEEM is not yet ready to handle millions and millions of new users and their content. As far as I know, Steemit, inc is working on core level scaling improvements such as appbase and hf20 which should hopefully get us closer to a point where the flood gates could be opened to handle real serious growth.

Totally understand the premature part. I was thinking in terms of after that, but yeah, no need to start a full on marketing campaign before you have the means to bring on the masses.