Quote from: Upgrade00 on May 30, 2020, 07:53:46 AM

Quote from: Abiky on May 29, 2020, 09:58:03 PM

Crypto's volatility in price greatly defeats its purpose as "digital cash". Until this issue is solved, I don't see the possibility of living without a bank.

This is due to the fact that cryptocurrency's value is still measured with reference to Fiats, for it to be used as a valid means of transacting it has to have a value hedged on labour; wages/hour, properties etc. So, 1BTC would always be equal to 1BTC.
This would provide stability, but it's not practical at the moment due to low adoption levels, and also the dilemma of which cryptocurrency can provide transaction security, decentralization as is scalable.

You mentioned very good points about “cryptocurrency's value”. Indeed there must be a crypto-value that has intrinsic value, Something like "labor theory of value" but do not sticking that too much.
I propose an alternative monetary system and its proper money which:
- Distributes the wealth more fairly and more justly (in all local, national and global levels)
- Encourages the rational cash flow - not spend it ASAP nor Hodl it for ever-
- Without “Cantillon effect” shortcoming.
- Is absolutely decentralized
This model has to distribute a kind of good money that has all feature of money and something more, like:
- Some kind of money that is scarce and has “intrinsic value”. Thus cannot be generated out of thin air overnight.
- The money that appreciates its value over time, means not declining the purchasing power even over decades, meanwhile is anti hyper-deflation as well.
- The money that can be easily used for loan and lending – particularly decentralized P2P operations- but does not allow the “fractional reserve” banking system.
- And the last but not least, whole ecosystem around it (including monetary mechanisms, its money features, and system users) is emerged to make world a better place for “all”, and essentially has to has mechanisms to guarantee this intention and functionality.
it’s looks too good to be true, isn’t it?
Please read the this post of a series of article about proposal here.
Can we imagine an alternative monetary model to recover our current economic fails?
https://bitcointalk.org/index.php?topic=5305584.0