What guarantees are there that the "severe rich" will not be able to take advantage of it
Does that stop you from using USD today? No?
So what changes? :)
The difference is that cryptocurrency allows you to hold funds in your own private wallet, and transmit those funds to people you want. There is no need for a bank or a Western Union or even a Paypal.
But! If banks, western union, or Paypal where to get involved in their own unique way, they could be making millions before their competitors start doing it. So eventually cryptocurrency will probably become a mainstream, efficient way of transmitting money on the internet.
Imagine that, no credit card needed. Cryptocurrency is best suited for fast internet transfers. It is only the news that keeps saying that it can be used to fund terrorists.
Well here's a spooky thought. 9/11 happened before Bitcoin was even created. So what is their point of demonizing cryptocurrency so much? It's stupid.
Good point. I had not thought of it that way. As much as I am loving the CC world, I remain skeptical mostly because it pushes me to keep reading and learning. I will definitely be reading your posts as part of that.