Why do we use FIAT $ as the main conversion value for cryptocurrency?
Be it CDN, USD, or even Euro - FIAT should have no place here💱
If you're a follower of mine from Publish0x, you may remember me as the girl who spent weeks grinding faucets for 8 hours or more every day, like it was a full-time job, and never spending a cent on increasing my crypto collection.
So many people claim that faucets are not worth it, but to those people I say - you are either lazy (impatient) or doing it wrong! Many are just looking for a 'get rich now' scheme so it doesn't surprise me that so many people don't have the patience needed to get value out of claiming from faucets.
🤷🏻♀️
Guess what? I am still grinding faucets - mostly because I am in love with crypto micro-casinos and need to keep the coin source replenished!
You know that if I saved all the crypto I ever got, I would be sitting pretty right now! $$
But the entire purpose for me starting to collect these coins was for extra money to use for entertainment purposes, and I am happy to say they've accomplished that task! Now they have started to do so much more for me too though!
All that time spent doing faucets all day in my beginner days allowed me to weed out the crap and find which ones did me best.
I found out how long it took me to reach minimum withdraw thresholds, which ones rewarded loyalty (and by how much) and found out which ones ended up annoying me after sometime with too many ads popping up or broken short links.
Also I discovered that having a memorable name/URL made the difference between returning to the faucet on a regular basis and forgetting about it. Even putting it in my bookmarks didn't always help me remember to return, because overtime I had collected over 100 bookmarks in my 'Crypto' folder alone, so bookmarks only helped to provide a quick way to enter the URL, but I still had to remember to enter it!!
✍️
I've written many posts over on Publish0x explaining my methods and suggesting good faucets to use - some posts I've cross-posted here on STEEMit already but some I think I need to update a bit before I bring them over to gain some 'freshness'.
Either way, this crypto blog of mine on Publish0x should get even the newest of newbies acquainted with faucets and earning FREE cryptocurrency without the need to ever spend a FIAT cent, just start with my oldest posts and feel free to ask me questions in the comments there or even here!
These days, my methods of earning still include faucets, but I've now expanded to other free methods like crypto games, blogging for crypto, completing tasks & surveys for crypto and asking employers to pay in crypto! I've also ventured into legit investment options, like investing in Cloud Mining with Eobot, Proof-Of-Stake staking pools like BTCpop, and some higher risk adventures such as investing the bankroll on a dice site (I hate dice) Yolodice and let's not forget gaining interest on our savings by using a wallet like QoinPro!
Airdrops and hunting bounties are another great way to earn for free but usually those payout in newer tokens/coins which may not have good liquidity or even be worth anything yet, so I don't spend too much time hunting those out.
Exchanging has become a huge part of my regime because I take the lesser known coins and convert them into one of the 'originals', usually LTC, BCH -- or a non-original: TRX which has been the coin I've been using the most for 'real life' spending lately AND for gaming, since I no longer game on ETH due to expensive gas fees, I've found some great dApps to play using the TRON blockchain! (And let's not forget that TRX is an accepted currency for purchases on #Splinterlands now too!)
How I value my Coins 🤑
Since I've never used FIAT to purchase or invest in crypto, my valuation of it is quite different you see. It's natural for me to value my coins for exactly what they are, ETH for instance. When using a dApp and signing an ETH transaction, it is more valuable to me to see that I need to spend 0.0015 ETH than it is to see $0.30 cents. I value each satoshi on it's own, not the value of what the satoshi is worth on the fiat market.
The only time I ever think about the value in fiat and look it up is the odd time I've sold on Paxful in order to make a quick buck to pay for something that doesn't yet allow me to pay in crypto.
Otherwise, I don't even bother to see if something selling for $10 USD is asking for an equivalent amount in BTC.. Not because I'm so rich, on the contrary I'm very poor both in fiat and crypto, but because again I've never had to use FIAT to acquire my crypto, so it's all profit for me and I can value it like it's own seperate system - which it was meant to be!
This is why I enjoy playing at the online casinos that deal in crypto only!
🃏🎰
Sure, I can hear you say that behind the scenes, most things dealing with crypto are using a fiat valuation - even those faucets I enjoy so much - but since crypto can exist on its own completely even if all the FIAT on earth was burned away, we can easily change our thinking and change the default valuation measurement for crypto. We can easily switch out USD for BTC, and think about crypto as a completely separate structure and value it on it's own. Never-mind that you think that purse should sell for $10 worth of crypto -- pretend there is only crypto for money and maybe a good value for that purse is 0.00001 BTC. There is no need for all this emphasis that we place on a crypto's value against FIAT $!
Changing our Expectations 🙄🤷♂️
Like the purse example above, all we need to do is change how we think about it and stop the need to compare it with a FIAT dollar.
Also, I think it's silly to show fiat value on a site where we can't use fiat as a payment option (which many sites do this!) Or another one is exchanges which show a FIAT value for their coin valuations but do not allow deposits of FIAT or even a coin pegged to FIAT. (sidenote: Coins pegged to $1 like Tether etc should be the only crypto we mix with fiat values)
Sure, of course crypto has a USD value just like my Canadian money has a value in USD, but making fiat the main conversion medium goes against what we are trying to accomplish with cryptocurrency I think.. valuing it on it's own, against it's own, is a better mindset I think. BTC should be the USD of crypto.
This is so easy to do and to envision from people who like me haven't yet mixed their fiat $ with their crypto earnings.. I hope I will never have to because thinking about crypto and valuing it separately has allowed me to spend it on entertainment things, game things, casino things, without any real feeling of guilt! I might have wagered $100 USD at a certain casino but to me looking at my wager of 1.348 LTC doesn't throw me into as much of a panic.
🙈🙉🙊
I do spend my crypto a lot more frivolously than my FIAT $, and if everywhere took crypto I would exchange every last Canadian cent I ever get to crypto immediately, but until then, I will continue to earn as much crypto as I can for free!
Faucet have allowed me to be more free and allowed even allowed me to make 'real money' bets in casinos and play for 'real money' Texas Hold 'Em poker games and both things I have never been able to do with FIAT money. Crypto allows me to be free and faucets have been an important tool to keep me earning for free to :)
© ~«[Kharma♪Scribbles]»|°2019 🖋️
Views expressed are strictly my own, this is NOT investment advice. Please do your own research and find out what methods and coins will work out best for you.`
Affiliate links might be present, but I will never recommend nor link to a service that I wouldn't 100% stand behind or that I haven't used extensively myself. The site is being mentioned here because I think they may bring some value to you, my reader. Affiliate rewards, if any, are a bonus paid from the applicable site(s) and do not take away anything from you.