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MyIronMan
How Cryptocurrency Will Transform Everything

At TEDxTampaBay, David explores how Bitcoin and related technologies will radically change just about everything. Passionate about the intersection of technology and culture, Dr. David Z. Morris is a researcher with a Ph.D. in Communication and Media Studies from the University of Iowa. As a writer and strategist, David has written about Bitcoin and other technology for Fortune, The Atlantic, Aeon, and Pacific Standard. His academic work has appeared in journals including Technology and Culture and Communication and Critical Cultural Studies, and he has received research awards from the National Communication Association and the Modern Language Association. He is a former research fellow with both the Japan Foundation for the Promotion of Science and the University of South Florida’s Provost’s Fellows program.

 

Watch the whole video you'll learn a lot of things for sure. Write down your comments if you find it informative. 

 

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Cosmo Brown

Cryptocurrencies are more effecient in our economy today. We can buy, invest, pay, save time and effort by using it. Ever wonder why the number of users everyday inceases? That's because it is effecient!

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Grox19

Actually, no. The number of users increases because crypto is trendy word. Bitcoin is hitting the moon every once in a while, news are filled with instant millionaires who made their millions on Bitcoin and of course everyone wants a part. Only few of all these new 'crypto people' really understand how cryptocurrencies work and the real importance of the financial revolution that is slowly happening.

But now I'm curious, why do you think crypto is more efficient than real money? And how are you saving time and effort?

I know when I first started learning about crypto world it took me weeks only for basics. 

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Norma Desmond

Will this transform some government agencies/working in the govenment in corrupting into not corrupting?  If yes, I'm up to this. LOL

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Hyden Sober

Think about when you make a major purchase, like a house or a car or property. It’s usually a lengthy process with multiple hoops to jump involving lawyers, notaries, and others. But contracts made using cryptocurrency can be made without the need for third parties, considerably cutting down on both the time it takes to settle a transfer and the fees involved.

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TechGuy

I'm all for using crypto for major purchases, but it doesn't work that way. The only advantage of using crypto instead of money is privacy but when you're buying a real-estate or a car there's no much privacy left. Contracts still need to be signed and taxes still have to get paid. You can't even say that everything goes smoother or faster as Bitcoin transactions can take up to two whole days and it's recommended to use an escrow instead of direct payment so transaction can take up to 4 or 5 days. Not to mention how hard it is to find a seller willing to go with cryptocurrency instead of bank money.

Next problem is that  Stamp Duty and fees still need to be paid in real money. To do that you'll need a valid contract and some Bitcoin converted to money so again you need to have third party involved and there will be some more fees. 

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Cosmo Brown

There are numbers of reasons why cryptocurrencies are better than the actual money:

  • Bitcoin is digital and decentralized – With Bitcoin people get the liberty to exchange value without intermediaries which translate to greater control of funds and lower fees. It’s faster, cheaper, more secure and immutable. Cash is controlled by banks while bitcoin has owners.
  • Ease of online shopping: As we already know, Bitcoin can help us do online shopping. It’s like an e-wallet which can be created blockchain technology to store, track and spend digital money.
  • Less volatile than cash: Bitcoin has a global acceptance and is less volatile than cash / local currency. Due to this feature, it becomes easier to conduct transactions across boundaries and online.
  • No real way of keeping a track of conventional currency- The underlying technology behind bitcoin, which is, blockchain is what makes or breaks it. Thousands of computers in a distributed network use cryptographic techniques to create a permanent, public record of every single Bitcoin transaction that has ever occurred. This record will be very valuable for various things besides tracking payment. While there is no real way of tracking cash.
  • Great tool for investment- Bitcoin can be used all over the world without going through a conversion process. It is considered at par with Gold and combines the best of cash and gold while providing an open market and no restrictions imposed by banks or governments.
  • Bitcoin is peer-to-peer and open, yet secure and nearly frictionless - Bitcoin allows exchanging value over the internet without any intermediary and gives its users access to their balance through a password known as a private key. So it’s private, secure and at the same time,open.   
  • Duplication impossible - There is no way of duplicating a bitcoin, unlike cash.
  • Great way of maintaining records for tax purposes: Once transferred, a bitcoins’ ownership also gets transferred. This means that two people cannot be transacting on the same value and this will help keep records healthy and simpler, especially for tax purposes.
  • Transnational digital currency – There are no boundaries to Bitcoin or cryptocurrency. No exchange values and no third party interventions. Bitcoin allows seamless transactions across nations with a ledger getting maintained at the backend.
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James Pallone

Just this morning I came across the news that Singapore is working on tokenizing their currency:
http://www.trustnodes.com/2017/06/07/singaporean-dollar-tokenized-ethereums-blockchain-monetary-authority-singapore

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oliverbrick

quite useful!

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oliverbrick

I have been pasionate about bitcoin for nearly 2 years now. After hearing about it from a property friend I immediately realised how vitally important it would be in the future both as a currency and a store of value. Bitcoin is the only asset which is capable of going parabolic on the log scale. The risk to reward ratio is unparralleled. Fiat currency is being devalued every year by quantitive easing (printing money) whilst bitcoin is becoming more valuable and rarer every year.  I read news and trends on crypto on https://cryptolinks.com/ . Don't want to miss the train.

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