There are many discussions in the crypto ecosystem, including very heated debates absorbing a lot of time and energy of the community. To name a few: big blocks vs small blocks, Bitcoin vs Altcoins, store of value vs medium of exchange, POW vs POS, ICOs are scams vs ICOs are the future of funding, decentralised vs centralised, private by default vs private by choice etc.
No doubt, every particular issue is important in the context and deserves to be thoroughly discussed. However, once you consider the grand scheme, all these issues are secondary to the main one, which surprisingly is almost never discussed.
What is really important is how the cryptocurrencies can help people earn enough money to live fulfilling, financially secure life. If someone is broke, if they live from paycheck to paycheck, it does not really matter whether they are broke while using bitcoins, altcoins or dollars. The crypto system should not be simply a different payment system, it should create a new economic set-up, which brings freedom and prosperity to every human on our planet. This is the goal. All other issues are ancillary.
Crypto should be weaved into our economic lives, changing the patterns of how wealth is created, distributed, exchanged and consumed. Crypto should help people earn decent wages, start their own business, receive better education, repay debt and solve other fundamental human problems.The right question is how cryptocurrencies should be designed and what infrastructure should be in place to make this happen.
The current situation when crypto is presented to the public as an investment vehicle is dangerous. Crypto does not exist to be bought, hold and sold on its own; it should function as a tool that creates radically new economic opportunities, which are not possible under the fiat system. The current price level is based on an assumption that crypto will eventually perform this useful function and if this doesn’t happen, crypto will fade away by itself.
This is what we all need to discuss.
What, in your view, is required to make crypto a tool that will leave financial insecurity in history?