Most people neglect that “money” started out since stones and rocks, to seashells and salt, whenever it was initially conceptualized thousands of years ago. It was only a few hundred years ago that ‘paper’ cash and government-issued tender grew to become commonplace for the transfer of value.
The argument continues to be true today for most crypto proponents. Look no further than Rhian Lewis, one of the founding members from the London Women in Bitcoin meetup, which has steadily risen in both attendance and meaning since its inception in 2014.
A former journalist along with The Times and The Weekend Times for over a decade, Lewis has been involved in the industry since 2012 and is one of the most renowned women in the European cryptocurrency space.
Today, Lewis swept up with Alex Fazel , the sponsor of crypto edutainment show Cryptonites , in a podcast to discuss Bitcoin, the origins of fiat money, and other popular topics that drive the crypto space these days.
Here’s the actual said.
You say Bitcoin isn’t money?
Revisiting the money-as-a-means-of-value argument, Lewis kicked off the segment with a brief about using Bitcoin since money. “In the early times, when people used to buy espressos and beer with Bitcoin… it was really quite harmful to people. The idea that you could go in and pay with something which wasn’ t, you know, the British pound or $1, or whatever, ” she said.
“It just opened the door wide to not just a new technology, but an entirely different way of thinking. ”
“But the weird point is that this isn’ t even something that came about along with Bitcoin private currencies had been actually surprisingly common maybe 150 years ago. It’ t just that governments legislated in order to encourage people to only use government-approved money. But in fact, there’ s no reason why you can’ t use anything you want as transaction, ” Lewis stated.
She then explained a bit about how fiat currencies are, in current times, not completely backed by anything, despite what Bitcoin critics say. “The same people are usually really amazed when you state that fiat currencies are not backed by anything. I think there’ s this misconception, ” she said.
“I saw a survey lately where I think 43% of Americans still believed the fact that dollar was backed by gold. And this is actually an amazing statistic to me, but then I think people don’ t believe a lot about money. Even though interestingly, you find a lot less Bitcoin scepticism in countries high has been a history of inflation, hyperinflation, or devaluation of the country’ s own currency, ” Lewis explained.
On the NFT cycle
Lewis, being the particular cryptocurrency devout she is, says non-fungible tokens ( NFTs ) are here to stay, despite their prices being a bit detached through reality for now. For the uninformed, NFTs are blockchain-based representations of tangible or intangible objects that be used to prove the ownership associated with whichever underlying asset they will represent.
Lewis says the girl sees the sector staying around for the long term. “I’ m fascinated by it. I published a really, really long article on hacker noon this past year, about NFT’ s and virtual reality (VR). And the idea of Representing goods in video games and virtual worlds along with NFTs is one that’ s absolutely not going to go away, ” she noted.
However , there’s a word for caution too: “There’ s a lot of silly money being paid for things that really aren’ t worth it. But over time, I think that’ ll shake away it’ s a bit such as the Icos in 2017, ” she ended, before moving on to speak smart contracts with Fazel.
(What else about Lewis say about Bitcoin? Want to know her thoughts on the end of fiat money and the rise of smart contracts? Catch the whole 38-minute Cryptonites episode completely right below! )
The particular post OG Bitcoiner disses ‘legal tender’ and shares why NFTs are never going away appeared first on CryptoSlate .