xuanling11Crypto Paycheck
Photo by Mario Gogh on UnsplashEmployees will receive their paycheck in the period as a reward for their work. However, the employer wants to pay less to employees so that they can have maximum profits. The tension between working and anti-working has increased ever since. TL;DR Nobody wants to work unless they can pay fairly. Fiat payment may not be sustainable to satisfy what workers can contribute if the employer continues paying less and gaining more from profits. Employees will want thei...
xuanling11Defi Review #4: AAVE The Defi Lending Services
AAVE is a decentralized finance lending service before decentralized finance even existed. It is an innovation lending service in crypto and one of the first kind. However, the lending service may only restrict to the crypto community and it may expand into the traditional financial field later. TL;DR AAVE is a crypto lending financial service which to provides lending services to the crypto community. They focus on security and smart contract lending may be the future of financial services. ...
xuanling11Stablecoin Crisis
Stablecoin is in the crisis mode. The most reputable stablecoin USDC is depegged. It is all triggered by the traditional bank collapse - Silicon Valley Bank or SVB collapse. Why traditional bank collapse impacts crypto stablecoin? Let's sort this out and reveal how stablecoin operates. First, why SVB collapse? The short answer is overleveraged. SVB is one of the 20 largest commercial banking in the United States. Some even estimate the bank owned half of startup assets. Bank operated in ...
xuanling11Crypto Paycheck
Photo by Mario Gogh on UnsplashEmployees will receive their paycheck in the period as a reward for their work. However, the employer wants to pay less to employees so that they can have maximum profits. The tension between working and anti-working has increased ever since. TL;DR Nobody wants to work unless they can pay fairly. Fiat payment may not be sustainable to satisfy what workers can contribute if the employer continues paying less and gaining more from profits. Employees will want thei...
xuanling11Defi Review #4: AAVE The Defi Lending Services
AAVE is a decentralized finance lending service before decentralized finance even existed. It is an innovation lending service in crypto and one of the first kind. However, the lending service may only restrict to the crypto community and it may expand into the traditional financial field later. TL;DR AAVE is a crypto lending financial service which to provides lending services to the crypto community. They focus on security and smart contract lending may be the future of financial services. ...
xuanling11Stablecoin Crisis
Stablecoin is in the crisis mode. The most reputable stablecoin USDC is depegged. It is all triggered by the traditional bank collapse - Silicon Valley Bank or SVB collapse. Why traditional bank collapse impacts crypto stablecoin? Let's sort this out and reveal how stablecoin operates. First, why SVB collapse? The short answer is overleveraged. SVB is one of the 20 largest commercial banking in the United States. Some even estimate the bank owned half of startup assets. Bank operated in ...
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Systematic risk is coming - a trust issue.
The financial crisis in 1929 made the first central bank in the US collapse, and private bankers rescued the government.
The global financial recession in 2008 almost collapsed the private banks until the government recused them.
https://twitter.com/WallStreetSilv/status/1573537715324321793
The slowly deteriorated of the banking system and central banks showed the crack of how the current financial system may not be as sustained as we believed.
The fiat currency ran on the trust system.
The original idea is to link with the concept of the social contract.
The social contract is between citizens and the nation, and they exchange legislative powers for equal treatment and freedom.
Similarly, the fiat system was constructed to let everyone exchange the legislative power on the financial system for equal ability to spend the fair fiat currency.
Therefore, even the fiat currency runs on the trust system, which does not mean that the money is worth zero if everyone does not trust the system. It only means you should trust the government as much as possible so that the currency in your hand is worth what it states. Otherwise, you can't do anything about it.
You only have two choices: belief or can't do anything about it.
Until the cryptocurrency, you have another option, to use cryptocurrency if you do not believe in fiat currency anymore.
Why is this so significant?
Since the government has represented you, you had no influence and to express your objections instead of reaching out to your representatives to help you influence the government. But do they care about your opinions or just your voting right?
Similarly, whether you trust the financial system or not, the fiat currency is still working, and the government still is making mistakes.
Cryptocurrency offers the hope that you can express your opinion and empower yourself without letting others represent you.
People will have no trust eventually if the government continues doing its own way and ignores the rest of the people. And they will continue making mistakes.
At least we still have cryptocurrencies.
Support writer here or join Medium here
Photo by Joshua Hoehne on Unsplash
Systematic risk is coming - a trust issue.
The financial crisis in 1929 made the first central bank in the US collapse, and private bankers rescued the government.
The global financial recession in 2008 almost collapsed the private banks until the government recused them.
https://twitter.com/WallStreetSilv/status/1573537715324321793
The slowly deteriorated of the banking system and central banks showed the crack of how the current financial system may not be as sustained as we believed.
The fiat currency ran on the trust system.
The original idea is to link with the concept of the social contract.
The social contract is between citizens and the nation, and they exchange legislative powers for equal treatment and freedom.
Similarly, the fiat system was constructed to let everyone exchange the legislative power on the financial system for equal ability to spend the fair fiat currency.
Therefore, even the fiat currency runs on the trust system, which does not mean that the money is worth zero if everyone does not trust the system. It only means you should trust the government as much as possible so that the currency in your hand is worth what it states. Otherwise, you can't do anything about it.
You only have two choices: belief or can't do anything about it.
Until the cryptocurrency, you have another option, to use cryptocurrency if you do not believe in fiat currency anymore.
Why is this so significant?
Since the government has represented you, you had no influence and to express your objections instead of reaching out to your representatives to help you influence the government. But do they care about your opinions or just your voting right?
Similarly, whether you trust the financial system or not, the fiat currency is still working, and the government still is making mistakes.
Cryptocurrency offers the hope that you can express your opinion and empower yourself without letting others represent you.
People will have no trust eventually if the government continues doing its own way and ignores the rest of the people. And they will continue making mistakes.
At least we still have cryptocurrencies.
Support writer here or join Medium here
Photo by Joshua Hoehne on Unsplash
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