Advantages and Disadvantages of Crypto

This thread was created so as not hijack the IHOK Summit thread and to continue the discussion which occurred on that and many other threads. Any topic including adoption, use case, viability, strategy, etc. are fair game here.

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For CountryCows:

“Did Emurgo not just enter India with the intention of doing a massive education pilot? Maybe you can help me out with understanding why they would do this?”

I don’t know why they decided on this course. I can surmise that part of the reason is that there is a wealth of people who are tech savvy, looking to be rich, have a solid work ethic, have friends or family involved in tech that can help, etc etc.

“I understand the concept fairly comfortably” - If you do then I don’t understand why you’ve elaborated on the concept in the manner in which you did. A wallet is an identity in crypto. Your wallet however is not going to be accepted by a bank as an ID.

“If money evolved this quickly, it would never work.” - Funny and Yet BTC, ADA, ETH, and all the rest have evolved pretty damn quick. Aren’t we on 3rd gen cryptos now?

“Not worth the effort.” - There is almost no effort to posting a TxID.

“So you just admitted to stealing from bathroom owners, car washes and arcades?” - No. Let me guess, you’ve never been to an arcade and the tokens they give you are from somewhere else? Never got a coin from a grocery store or somewhere else that was a coin from another country?

“Have you been to Dave and Buster’s?” - Yes. Not too far from me. I know they have cards. There is a token machine where you insert tokens, the fall in place, a bar pushes tokes over the edge and you get tickets. You turn in the tickets and have the amount stored on your card. Milpitas is my spot. Yours?

“Do the same thing with your ATM card. How does that work?” It’s called Apple Wallet. You scan your ATM card and its in your phone. It works at Safeway and thousands of other locations.

“We are talking about what can be built over the coming 5-10 years.” - The same time and opportunity can be afforded to banks and other entities. Hmmmm Apple Card. No Fees (Zero Fees), Daily cash back, wide acceptance - globally, refundable, shows how you’re spending so that you can manager your behavior. People like these types of options.

“This is why Charles has talked about Tangem cards” - And how much will a new card cost? Won’t be free that’s for sure.

For Cliff:

Funny…heard Charles talk and he make some points at 4:39 and 6:01


Charles then goes on further about what would happen if mass adoption cant occur by getting people to understand the philosophy of decentralization. Let’s get this straight, you’re not going to get anyone to have mass adoption in 3-5 years. That being said, Charles has stated it himself that he believes “We” will be consumed.

I watched this AMA after it was released; based on my recollection, I believe the message was that if the we fail to comprehend the fundamental importance of decentralized blockchain tech over the camouflaged, current money system’s centralized blockchain product ie. legacy financial system’s trillion (daily transaction value) dollar leverage into centralized blockchain ‘solutions’, then blockchain’s potential benefits to humanity will have been sabotaged, driven past the tipping-point, fueled by our ignorance.

He never stated or even alluded, no mass adoption will occur in 3-5 years, therefor game over. It you didn’t intend this interpretation then please correct or clarify.

See 5:33 on the video above. Charles is very clear that people need to be knowledgeable on the “philosophy”…

Charles states at 6:01, “we will be consumed… and if you disagree, there are other options, there are over 3000…”

What do you think would be the impact on any market, stock, or commodity if the CEO of any company providing, manufacturing, etc., made such a statement? Please do tell.

wrt to accuracy of my response, I will view the ama a second time and reply when possible.

Thanks for the prodding :wink: