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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Have you claimed airdrops and played games to earn tokens? Try Pipeflare to earn popular tokens and play to earn here.
There is a problem with your money 💵!
😒 Don’t think so? Hear me out here.
💳 Visa
Credit was introduced in the 1950s.
Everyone thought credit cards would replace money, but they didn’t.
The benefits from credit cards were tremendous.
For users 👤, credit cards take less room, no need to exchange currencies when going abroad, and there is a faster transaction speed and defer payments if you want to.
For authorities 👮, credit cards are traceable and easy to fight for unlawful money activities.
The credit card was cutting-edge technology at the time, but they did not replace cash.
Then a virtual version of the credit card system was introduced: electronic payment system technology.
You can now make payments through a smartphone 📱. That almost makes it accessible to everyone who only owns a smartphone. You do not even need a bank account to pay through your phone.
Cash, on the other hand, makes a transaction anonymous.
Credit cards and cash have co-existed since.
₿ Digital Cash
When you combine a credit card and cash, you get digital cash. Bitcoin is the first effective form of digital cash.
Bitcoin is short for business in the technology of currency on investment, and no one can destroy 😁.
Simply Bitcoin was created against a conflict of interest from the central bank's monetary system, or an insurance policy in case of the fall of the central bank.
💪 Power of Money
To become money, such replacement has to become very powerful. It has the purchasing power to acquire something, transfer power to dedicate someone, and create power to the reserve of value.
In traditional, a currency of the money is a debt that is a liability asset. For example, when you hold a dollar bill, the central bank owes you that dollar of value.
Bitcoin changes that fundamental idea. When you own a Bitcoin, no one is liable to pay off Bitcoin.
In that sense, many people believe that Bitcoin has no value because none of the central authorities will claim that one Bitcoin is some kind of value or liable to pay that one Bitcoin.
Money is a credit in the past, and Bitcoin has destroyed that idea!
When the money was created by banks, and you owned that money, you owned a right to claim that money value. It is an entitlement of ownership of such money.
Bitcoin destroyed that entitlement as well! Since Bitcoin has been a digital gold, it has absolute power over itself without being entitled to someone else.
The value of an official currency depends on the commitment of the central bank not to issue too much money to purposely devalue the currency. However, there is no restriction on the central bank no to do so.
Bitcoin destroyed that privileged. The cap of 21 million total supply completely bars inflation.
👌 Better Money
The goal of Bitcoin or cryptocurrencies is to reduce human error to prevent moral hazards.
Like NFT hype, Otherside Meta made $300M overnight but with $180M gas fees.
So many victims fall from such NFT scams.
Elon Musk offered $44B to buy Twitter and sold more Tesla stocks to raise funds.
So many victims fall from such company purchasing scams.
One can always argue that if you hold those assets for a long time, everything will pay back eventually.
The same argument can apply to any assets you are holding.
📢 Distributed System
The solution does not rely on decentralization but rather on a distributed system. The difference is the degree of autonomy. Rather than operating without anyone, a distributed system has nodes to compete with each other to make sure everyone is in check.
In Conclusion
Money itself is a monopoly idea. To be able to operate without moral hazard, such currency should embed with competition to spread out its power.
Have you claimed airdrops and played games to earn tokens? Try Pipeflare to earn popular tokens and play to earn here.
There is a problem with your money 💵!
😒 Don’t think so? Hear me out here.
💳 Visa
Credit was introduced in the 1950s.
Everyone thought credit cards would replace money, but they didn’t.
The benefits from credit cards were tremendous.
For users 👤, credit cards take less room, no need to exchange currencies when going abroad, and there is a faster transaction speed and defer payments if you want to.
For authorities 👮, credit cards are traceable and easy to fight for unlawful money activities.
The credit card was cutting-edge technology at the time, but they did not replace cash.
Then a virtual version of the credit card system was introduced: electronic payment system technology.
You can now make payments through a smartphone 📱. That almost makes it accessible to everyone who only owns a smartphone. You do not even need a bank account to pay through your phone.
Cash, on the other hand, makes a transaction anonymous.
Credit cards and cash have co-existed since.
₿ Digital Cash
When you combine a credit card and cash, you get digital cash. Bitcoin is the first effective form of digital cash.
Bitcoin is short for business in the technology of currency on investment, and no one can destroy 😁.
Simply Bitcoin was created against a conflict of interest from the central bank's monetary system, or an insurance policy in case of the fall of the central bank.
💪 Power of Money
To become money, such replacement has to become very powerful. It has the purchasing power to acquire something, transfer power to dedicate someone, and create power to the reserve of value.
In traditional, a currency of the money is a debt that is a liability asset. For example, when you hold a dollar bill, the central bank owes you that dollar of value.
Bitcoin changes that fundamental idea. When you own a Bitcoin, no one is liable to pay off Bitcoin.
In that sense, many people believe that Bitcoin has no value because none of the central authorities will claim that one Bitcoin is some kind of value or liable to pay that one Bitcoin.
Money is a credit in the past, and Bitcoin has destroyed that idea!
When the money was created by banks, and you owned that money, you owned a right to claim that money value. It is an entitlement of ownership of such money.
Bitcoin destroyed that entitlement as well! Since Bitcoin has been a digital gold, it has absolute power over itself without being entitled to someone else.
The value of an official currency depends on the commitment of the central bank not to issue too much money to purposely devalue the currency. However, there is no restriction on the central bank no to do so.
Bitcoin destroyed that privileged. The cap of 21 million total supply completely bars inflation.
👌 Better Money
The goal of Bitcoin or cryptocurrencies is to reduce human error to prevent moral hazards.
Like NFT hype, Otherside Meta made $300M overnight but with $180M gas fees.
So many victims fall from such NFT scams.
Elon Musk offered $44B to buy Twitter and sold more Tesla stocks to raise funds.
So many victims fall from such company purchasing scams.
One can always argue that if you hold those assets for a long time, everything will pay back eventually.
The same argument can apply to any assets you are holding.
📢 Distributed System
The solution does not rely on decentralization but rather on a distributed system. The difference is the degree of autonomy. Rather than operating without anyone, a distributed system has nodes to compete with each other to make sure everyone is in check.
In Conclusion
Money itself is a monopoly idea. To be able to operate without moral hazard, such currency should embed with competition to spread out its power.
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