With the creation of Bitcoin and other digital money systems before this and afterwards. All of this was created in the private sector. Traditionally most of the fiat money systems were run and created by some branch of a government or public system.

With this possible change of possible hands of where the money gets run and created from what are your thoughts on a private entity creating and controlling a new money system.

Sure many of you may have lost confidence in the public system of money.
What factors give you confidence in having the private sector control a new money system.

Some of these private sectors are corporations too. Business as well, so more less to keep their money system in check, they have to figure ways to earn from the system. More less maintain a profit at least for the business to stay in business.
Those are some of the things one must think about when moving the money system to private hands.

With having the money in the public system. It is more on controlling the money as a service. Therefore no profit margin is needed when it comes to creating and controlling money in public system.

With private sector the system is a different playing field.

What factors would you need to maintain confidence in the private sector in creating and controlling a new money system? Thoughts

The thing with crypto is most of this money system was created in the private sector (business) vs public sector (government)

more less we see this switch of money created in the private sector. However do you have the confidence in the private sector with a new money system. Some of these private sectors are also corporations.

More less we are changing hands from one to another, that is one thing one must determine
do you have confidence in the private sector of creating a money system. this one might deserve a stand alone post

Just got my Ledger Nano Plus Wallet now. I am considering moving all my coins off places like Exodus and Coinomi and putting everything on the hardware wallet I have. using various apps available.

Do you think this is good move to securing my funds much better and more safe?

Do you all have the better confidence in using these hardware wallets vs using just software?

Thanks for all your help/

Just like Ecash and Hashcash paved the way for the ideas of Bitcoin and other cryptocurrency.
BTC and other cryptocurrency will pave the way for the next technology and innovation that may come.

Perhaps I may just be another type of crypto that could work better then what is out there then now.

Time will come and from the ideas of least expectant there will come another project of innovation.

Never say never.

How Fiat Will Always Be The Norm

How Fiat Will Always Be The Norm


With all the ongoing growth with cryptocurrency has created many different avenues of direction in many ways. It does create more control for the people of their money but this is only successful when someone educates themselves on this system.

However, the majority of the population are not willing to do this and still only see FIAT as the main money system.  If they hear about Bitcoin, is only seen as a store of value or a like a stock to get more fiat.

Also the media, corporations and governments are still successful in making everyone use FIAT regardless of the inflation that is happening. Come to think on it, people do not see that fiat is the cause of inflation at all.

More and more inflation is happening with more money being printed all the time. Yet people still demand more services from the government which creates more money to be printed and more inflation.

Yet people do not see this as a problem at all, since the demand for specific services keeps increasing.

Many people just do not understand that they are encouraging inflation. All these factors play in the role that fiat is here to stay. People just don’t see the problems of fiat nor able to see the benefits of crypto.

This will be for sure a spiral down to something really bad in the next while. What type of solutions are there to fix this problem?

One of the popular thoughts and beliefs on crypto especially Bitcoin. The belief is that Bitcoin should be the main money system in the world for getting goods and services vs just being a store of value. All of these ideas are written in the Bitcoin white paper.

Reasons for Bitcoin is the constant ever growing amount of inflation that the current fiat systems of money that create for majority of the populations.

However many have to realize that there are limitation from this happening. Not saying that it could or will happen though.

For Bitcoin or any other new system to come into effect we need to have majority of the population to use and accept such a system.

   There are a many things standing in the way of this. One of those limitations is that there is nearly not enough effort on creating and spreading positive awareness on it as some government and individuals alike is hell bent on spreading negativity around and poisoning the minds of prospective users. People need to be aware and understand what bitcoin is really about and be awake to its uses.
   You could get lots of information about anything on the internet including bitcoin. But the internet can be misleading to newbies cause you could get right and wrong and also misleading information on the internet. It puzzles me that people with an in depth knowledge of bitcoin would purposefully hoard and keep information to themselves. You may think people don't hoard information but in reality, people do. It irksome just thinking about it. If people could share information, newbies won't readily fall prey to scammers.
Many people believe everything they hear and see on social media and accept that as the main truth to anything without having the proper references to the actual facts.

Another situation is that most people do not understand how the current money system works.  The current system of money has been used for many generations, however many people do not understand how it works. Nor do many people care to learn about. Many people do not see the current inflation growth as something to do with the money system. 

Of course the current inflation is of something very complicated and goes back to over a hundred years in many ways.

At one time, I thought there was a small chance for Bitcoin to disrupt the vice-like stranglehold which corporate lobbying has upon the world.  Although it looks like the potential for genuine reform is somewhat diminished from what I had hoped for.  Not least because I suspect most people can't even see that potential.  That, and I don't think the world is ready yet.  People want to complain about stuff, but the vast majority of them won't actually do anything about it.  Because they'd have to un-learn many of the habits they've spent a lifetime reinforcing.  And those habits are built around a total reliance upon systems of control.

After all a huge deal of money is stolen from credit and debit cards all over the world, and those people depend on the banks to save them and recover their money, but this is not possible with bitcoin, so since people do not know how to take care of their coins I think that we are bound to see a massive amount of money being stolen if Bitcoin was adopted massively, and then once they lose their money this way those people will criticize Bitcoin for its inability to reverse transactions, even if that is a feature and not a bug.

For most part many people do not see the potential of Bitcoin and the benefits it can bring to everyone else. There has been now a reputation of it being just a rich man’s money. With the fact that more of the rich whales and corporations getting involved and talking about it more. Which other people will see this as intimidation and stay clear away from this new money system.

In some ways this is good for crypto if the larger companies are getting involved as it could help adoption. Then again it could work against it as well.

In general I think it will take sometime for more adoption of Bitcoin to happen, if any at all.
What do you think is needed to not scare people away from crypto. Also what can be done to encourage people to at least take a moment to learn a bit more on the money system and understand how the inflation is happening. This of course will only need to change some people’s mindset on matters.

What are your thoughts on this?

Well you have to realize people or more less the majority of the world population have used the current money system for a long time. Yet many people do not have any idea of how the money system works. More less this means it will probably not happen for the majority of the population to learn and understand more about a new money system at all.

It will be a few generations before Bitcoin or more less a new money system to happen.

so does this mean it would be a bad idea to consider Trezor as a wallet at this time?

I am narrowing my mind to get a hardware wallet. One that is compatible to various wallets so i can trade on DEX's

I been looking at the Trezor brand.
More less the Trezor Model One. as it seems to work with various coins as well. I am ok to change apps if needed.

What are your thoughts on the Trezor Model One for anyone out there who used it or recommends it?

Pro's and Con's

any problems on hardware.

Good with DEX's?

feel the company be around a while and all your funds be safe?

Thanks and look to all your replies. I really just want to make a final decision on this purchase. Thanks

would you recommend offline wallet as a safer bet over a hardware wallet?

thanks so much fpr the help i wont be looking at LEdger at all then,

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Would the Trezor brand be a good option for hardware wallet ? company and devices have good reputation etc?

[moderator's note: consecutive posts merged]

thanks so much

i was just looking at this wallet

i didnt realize i was spelling trezor wrong
the proper one is trezor
i was looking at Trezer wallet , which i found now was thew rong one
this one call the Trezor Model One looks decent

https://shop.trezor.io/product/trezor-one-black

i been researching hardware wallets
and got it down to a few choices
not sure what one to try
my choices are
Ledge S, Ledger X, Trezer, BC Vault and Keystone
i am leaning towards Ledger S so far, feedback and suggestions please
my coins i usually keep under 20
but i like to be able to stake coins from my wallet etc
i just don' t want to get a hardware device that will become obsolete by tomorrow

Seems many choices and the good ones are expensive to get though

Hi there I been using the wallet Coinomi for a long time now. Is it true this wallet has had problems? should i be looking at another wallet ?
security of the funds an issue with Coinomi? or what are the negatives you have heard?

If you think I should i change wallets? what wallets you recommend? I use Exodus at moment?
thanks

ok thanks so much on that, yes i am not into those sh%tcoins by any means

seems too shady

things like Pancake token etc, or sushi swap

I am slowly moving all my coins/tokens off many of the centralized platforms such as Blockfi, FTX etc.

Going to decentralized platforms. First step move everything back to my wallets.

Then i want to get back to staking coins and earning interest but only to use Decentralized platforms like Uniswap etc.

Do you think this is good move for sure?

What decentralized exchange is best for staking coins like LTC and ETH?

Thanks as there is so many to choose from

thanks

I would like to connect My Coinomi wallet to Metamask so i can use those decentralized exchanges. I am confused on what to do.

Anyone have any recent links or advice on how to connect safely? thanks

Maybe i was confused about Metamask before? more or less my Funds are always coming and going from my wallet? Metamask is more of a gateway between the wallet and the destination i am sending or receiving those funds from?

metamask is so hard to use and funds are not secure at all

the browsers are always viewing your usages on the the computer.

more or less makes the system still very centralized