PRIVATE MONEY AGAINST FIAT MONEY
If there will be a battle for both money, the contest will have a winner depend on the time spend.
Either way we all need money to spend. We do things to earn money. Writing this post will earn me something. This is part of life where give and take happen in a motion to make life useful. I guess the proper term is transaction.
In order to instill control fiat money has been gained momentum for the past 40 years. Lately it has become digitized since most transactions are done by pen or typing a number somewhere. It is very strange to do business with a lot of cash. It happens if banks are not around. Having stated the power of fiat money, private money is the part where the story begins.
This is the reason you see hard regulations are coming down in part of the world to curve the use of private money. It just happens to understand freedom is so special where you need someone else to tell you what kind of currency to use. Just this nugget brings value to private money.
Hive is the best example we can use. You can either invest to maintain the blockchain, you can write and receive in return Hive for your thoughts.
The same notion can be seen when you go to #leofinance, you receive in return #leo token. The power of private money can be seen in value of the community. Trust factor plays a role that serve everyone equally. It does not matter the amount you have for trust.
By holding more you help newcomers to build their trust as well.
Venezuela example is so clear to understand the power of private money.
EL Salvador is another example. They no longer use the colon. It is still around but hard to see.
They used the US dollar and #BTC. I am so surprised other countries are still waiting to follow.
Control is the reason you see the reluctance for use of private money.
As you know too well, we decide what to use. No need to wait for an entity to show what to use.
Right now it looks on the surface fiat money is holding the lead. With inflation and back with nothing, I mean nothing, fiat is slowly losing the battle to inflation. In the US the inflation is pushing the limit to see how life is changing for everyone. Lately fuel is getting really high. I know some part of the world they use to high price.
The real power resides where each individual will decide what is the best for them for the future.
Most importantly, keep vesting in yourself.
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The case of Venezuela is very particular, at the beginning of the month they devalued the bolívar with 6 zeros and the Fiat money is rarely seen on the street, both (Bolívares and Dollars) the money is handled more with the banks and less cash. Hence the importance of cryptocurrencies in our country since we spend a part and leave the rest stored in the respective wallets.