Oh this has no chance of backfiring horrendously now does it what with maidsafe allowing anyone from monetizing their own computer resources and having anonymous encrypted money transactions and communications right?
This is what they’ll have to deal with when the SAFE Network launch:
They had better include the collectibles assets market.
Some of that stuff is worth millions and a lot at 50K to a million. And you can drive your collectible to give to the other person for payment of say a house. As good as cash in the right hands.
Yea this war on cash s about killing the cash in hand payments for labor/goods and avoiding TAX. Anything to get the last tax dollar.
I can see a lot of people becoming criminals overnight after that bill is passed.
Well it’s bloody impractical. In India people trade cell phone air time as a form of currency because a lot of people there are dirt poor. Now if you can do that then that just proves the power of barter. Let’s get back to basics here folks: Money is a convenient medium of exchange but by no means is any given currency the ONLY medium of exchange. Spices, water, gems, pretty stones, precious metals, drugs, food, pretty much anything that is portable, measurable and has some measure of value can become a currency. Hell people might just start trading favors if it comes to it. And what they’re also forgetting is a lot of people don’t have access to the internet or banks for that matter. When I was a little kid we lived in a REALLY small town and there was no bank. The store cashed cheques for people but for the most part the whole idea of debit cards and internet didn’t come up. Now the government is talking about making direct deposit mandatory which I find insane because not everyone has access to a bank. Granted I’m Canadian and not in the states but STILL the same principle applies. There are those that do not live near or with easy access to a financial institution and need to use cash. There are those that do not live near, or have access to internet. There are those who do not want to trust their money to a financial institution. And ultimately isn’t it one’s own money to use as one wishes?
Where in yours fantasies you come up with these idea, trades, cell phone airtime as currency?
My mistake it was Africa not India. I do so apologize. However the point about barter still applies.
“The next most popular uses of mobile phones in Africa are games, music and transferring airtime. (In many countries, carrying cash can be a little risky, and many people don’t have access to banks, so people pay for goods and services by transferring airtime from their phone to the vendor’s phone.)”
Think of it this way:
Crypto mainstream adoption will happen. It is a matter of time.
- Either it happens in a pacified way, with governments supervising the process and keeping an eye on everything (e,g Bank of England considering the Ripple protocol)
- Or it happens through conflict, and the most anonymous efficient multiform currency wins (Maidsafe…)
In this war, governements have a big advantage. They control the real economy and they can pass bills to outlow cryptos, like they did with Gold back in the days. They control bricks and mortar, and they can forbid corporations or small sized business from accepting crypto as a mean of payment. Overnight a law can pass to put poloniex and all exchanges out of business. That’s why the development of decentralised exchanges is important.
My take is there is no doubt this war will happen. Maidsafe is in a very good position to lead this war and rule over the black market. If crypto become a real threat, there is little doubt gouvernements will do everything in their power to take action.
It might take a generation and actual obsolescence of fiat currency before the war is won.