ELI5: Why does everyone say crypto is so amazing ?

In basic terms: There are a set number of coins. Yes I could buy all the coins and have more than you but there’s always someone with more than you. It doesn’t solve wealth inequality entirely. The difference is with crypto, no matter where you are, the value doesn’t change. For someone to manipulate crypto, they will be manipulating it everywhere. So it doesn’t solve the issue of currency manipulation—but it does democratize currency to everyone with an internet connection.

Major upside for developing countries with unstable fiat that want to participate in the marketplace. Major upside for developed countries looking to reap the rewards of a global marketplace.

The goal isn’t to replace fiat, they can coexist.

/r/explainlikeimfive Thread