Next it will be "but crypto will let you monetize your private data". Yeah no, it won't.
I think there's a lot of value in being slightly harder to oppress by the political classes or arse-covering and uncaring bank managers.
Apart from that, with a decentralised system it's way more complicated for others (!) to fuck up and lock your bank accounts.
But to be frank: I found the idea intriguing, never was invested at all. I am also not greedy and apart from taxes for my house I could sustain myself for a couple of months, maybe even 1-2 years without access to my bank accounts
Say this is true, how amazing would that be for countries without existing banking infrastructure to easily access it?
> In fact, the requirement that you need good internet speed for crypto to run locally means it's even harder for a place without infrastructure to participate.
Internet costs less than $2 for monthly unlimited data.
You can find 300-500 Mbps broadband in small towns of country where you won't find roads or basic hospitals.
This access is fast and cheap enough for unbanked people to access it.
These unbanked people would also have access to things like smartphones and computers because crypto doesn't exist in real world.
And yet those countries would not have banking infrastructure.
Nice. Nice.
Any such countries exist?
But actually smart phones and internet access is surprisingly high in sub Saharan africa where they primarily still use SMS trading.
And yes, crypto is starting to catch on out there as an alternative.
Keyword: some.
Also, banking over SMS was a thing long before crypto.
> But actually smart phones and internet access is surprisingly high in sub Saharan africa where they primarily still use SMS trading.
Then it will be swallowed by something smilar to AliPay. Not by crypto.
