Post history

History for Ryan

Things that make you go hmmmm

Current version

Posted April 24, 2018 12:31 · last edited April 24, 2018 12:35

coochiee wrote:

Ryan wrote:

Perhaps fanciful, perhaps not. A lot of people are bidding big on crypto currencies and distributed ledgers. The thing about change is it's often sudden and disruptive and very hard to see coming.

I read a quote recently which was something like we often don't see change when it's happening, we only see it when it's done.

Sure if EVERY human on the planet had a smart phone maybe! But that is years away from a reality.

Plus a North Korean using the same currency as an American or a Somali??

Cypto currencies will continue to grow fast, but their use outside first world countries will be limited.

You know Cuba has two currencies? One for locals and one for tourists. Weird

The whole first world thing is pretty redundant. You realise that Switzerland, Sweden, and Ireland are third world countries right? China is classed as "second world" and is the largest market for crypto currencies, Estonia is also classed as second world and is in the process of launching an ICO for an official Estonian government sponsored crypto currency.

Also, smart phone penetration may be higher than you think. In a good chunk of Africa smartphone penetration is above 30% in a lot of homes they are the only powered device and are actually the brightest lights in house holds. You can also use feature phones to trade in cryptocurrencies. And it seems pretty clear that we're going to end up with free or very cheap global internet and increasingly commoditised portable computing devices.

The thing about disruptive technologies is that places like the third world is where it will take off first. People don't trust their local currencies and are looking for alternatives, they're also looking for the ability to inexpensively do microtransactions and take out microloans which the current fiat money system can't handle. The good thing about crypto currencies are you don't have to rely on banks, you can store your funds on a piece of paper, or carve a mnemonic on a piece of wood and bury it, or whatever you wan't. You don't need a smart phone to use cryptocurrencies, just the person that you're transacting with needs something, I can easily have a paper wallet and not bother with a phone at all, in fact the most secure way to store funds is offline on something like a piece of paper or a cold store.

Previous versions

4 versions

Unknown editor edited April 24, 2018 12:35

coochiee wrote:

Ryan wrote:

Perhaps fanciful, perhaps not. A lot of people are bidding big on crypto currencies and distributed ledgers. The thing about change is it's often sudden and disruptive and very hard to see coming.

I read a quote recently which was something like we often don't see change when it's happening, we only see it when it's done.

Sure if EVERY human on the planet had a smart phone maybe! But that is years away from a reality.

Plus a North Korean using the same currency as an American or a Somali??

Cypto currencies will continue to grow fast, but their use outside first world countries will be limited.

You know Cuba has two currencies? One for locals and one for tourists. Weird

The whole first world thing is pretty redundant. You realise that Switzerland, Sweden, and Ireland are third world countries right? China is classed as "second world" and is the largest market for crypto currencies, Estonia is also classed as second world and is in the process of launching an ICO for an official Estonian government sponsored crypto currency.

Also, smart phone penetration may be higher than you think. In a good chunk of Africa smartphone penetration is above 30% in a lot of homes they are the only powered device and are actually the brightest lights in house holds. You can also use feature phones to trade in cryptocurrencies. And it seems pretty clear that we're going to end up with free or very cheap global internet and increasingly commoditised portable computing devices.

The thing about disruptive technologies is that places like the third world is where it will take off first. People don't trust their local currencies and are looking for alternatives, they're also looking for the ability to inexpensively do microtransactions and take out microloans which the current fiat money system can't handle. The good thing about crypto currencies are you don't have to rely on banks, you can store your funds on a piece of paper, or carve a mnemonic on a piece of wood and bury it, or whatever you wan't. You don't need a smart phone to use cryptocurrencies, just the person that you're transacting with needs something, I can easily have a paper wallet and not bother with a phone at all, in fact it's actually secure to store funds offline on something like a piece of paper or in an offline cold store.

Unknown editor edited April 24, 2018 12:35

coochiee wrote:

Ryan wrote:

Perhaps fanciful, perhaps not. A lot of people are bidding big on crypto currencies and distributed ledgers. The thing about change is it's often sudden and disruptive and very hard to see coming.

I read a quote recently which was something like we often don't see change when it's happening, we only see it when it's done.

Sure if EVERY human on the planet had a smart phone maybe! But that is years away from a reality.

Plus a North Korean using the same currency as an American or a Somali??

Cypto currencies will continue to grow fast, but their use outside first world countries will be limited.

You know Cuba has two currencies? One for locals and one for tourists. Weird

The whole first world thing is pretty redundant. You realise that Switzerland, Sweden, and Ireland are third world countries right? China is classed as "second world" and is the largest market for crypto currencies, Estonia is also classed as second world and is in the process of launching an ICO for an official Estonian government sponsored crypto currency.

Also, smart phone penetration may be higher than you think. In a good chunk of Africa smartphone penetration is above 30% in a lot of homes they are the only powered device and are actually the brightest lights in house holds. You can also use feature phones to trade in cryptocurrencies. And it seems pretty clear that we're going to end up with free or very cheap global internet and increasingly commoditised portable computing devices.

The thing about disruptive technologies is that places like the third world is where it will take off first. People don't trust their local currencies and are looking for alternatives, they're also looking for the ability to inexpensively do microtransactions and take out microloans which the current fiat money system can't handle. The good thing about crypto currencies are you don't have to rely on banks, you can store your funds on a piece of paper, or carve a mnemonic on a piece of wood and bury it, or whatever you wan't. You don't need a smart phone to use cryptocurrencies, just the person that you're transacting with needs something.

Unknown editor edited April 24, 2018 12:33

coochiee wrote:

Ryan wrote:

Perhaps fanciful, perhaps not. A lot of people are bidding big on crypto currencies and distributed ledgers. The thing about change is it's often sudden and disruptive and very hard to see coming.

I read a quote recently which was something like we often don't see change when it's happening, we only see it when it's done.

Sure if EVERY human on the planet had a smart phone maybe! But that is years away from a reality.

Plus a North Korean using the same currency as an American or a Somali??

Cypto currencies will continue to grow fast, but their use outside first world countries will be limited.

You know Cuba has two currencies? One for locals and one for tourists. Weird

The whole first world thing is pretty redundant. You realise that Switzerland, Sweden, and Ireland are third world countries right? China is classed as "second world" and is the largest market for crypto currencies, Estonia is also classed as second world and is in the process of launching an ICO for an official Estonian government sponsored crypto currency.

Also, smart phone penetration may be higher than you think. In a good chunk of Africa smartphone penetration is above 30% in a lot of homes they are the only powered device. It seems pretty clear that we're going to end up with free or very cheap global internet and increasingly commoditised portable computing devices.

The thing about disruptive technologies is that places like the third world is where it will take off first. People don't trust their local currencies and are looking for alternatives, they're also looking for the ability to inexpensively do microtransactions and take out microloans which the current fiat money system can't handle. The good thing about crypto currencies are you don't have to rely on banks, you can store your funds on a piece of paper, or carve a mnemonic on a piece of wood and bury it, or whatever you wan't. You don't need a smart phone to use cryptocurrencies, just the person that you're transacting with needs something.

Unknown editor edited April 24, 2018 12:31

coochiee wrote:

Ryan wrote:

Perhaps fanciful, perhaps not. A lot of people are bidding big on crypto currencies and distributed ledgers. The thing about change is it's often sudden and disruptive and very hard to see coming.

I read a quote recently which was something like we often don't see change when it's happening, we only see it when it's done.

Sure if EVERY human on the planet had a smart phone maybe! But that is years away from a reality.

Plus a North Korean using the same currency as an American or a Somali??

Cypto currencies will continue to grow fast, but their use outside first world countries will be limited.

You know Cuba has two currencies? One for locals and one for tourists. Weird

The whole first world thing is pretty redundant. You realise that Switzerland, Sweden, and Ireland are third world countries right? China is classed as "second world" and is the largest market for crypto currencies, Estonia is also classed as second world and is in the process of launching an ICO for an Estonian government sponsored crypto currency.

Also, smart phone penetration may be higher than you think. In a good chunk of Africa smartphone penetration is above 30% in a lot of homes they are the only powered device. It seems pretty clear that we're going to end up with free or very cheap global internet and increasingly commoditised portable computing devices.

The thing about disruptive technologies is that places like the third world is where it will take off first. People don't trust their local currencies and are looking for alternatives, they're also looking for the ability to inexpensively do microtransactions and take out microloans which the current fiat money system can't handle. The good thing about crypto currencies are you don't have to rely on banks, you can store your funds on a piece of paper, or carve a mnemonic on a piece of wood and bury it, or whatever you wan't. You don't need a smart phone to use cryptocurrencies, just the person that you're transacting with needs something.