I have yet to see evidence that BTC is anything but controlled opposition. The CCP holds most of it (which is just an arm of the DS). Despite all statements to the contrary all transactions are easily tracked (time, place, people, goods) by entities like the NSA (which many countries have an equivalent).
Most importantly, none of the big cryptocurrencies are backed by anything physical.
I think the idea is great, and will likely be a part of the path forward. I think all securities will eventually be blockchain (that's an example of a BACKED crypto). Atm however, I think the evidence suggests all these fiat cryptos are controlled opposition. Further, I think they do the opposite of what people think they do in the fight against the DS (i.e. they take away from the power of the people with the illusion of the opposite).
Fiat currency is fiat currency, no matter how much rose perfume you pour on it. If it isn't backed it loses all value as soon as someone (with enough power and money) instills enough doubt that faith evaporates.
A fiat currency is any intermediary of barter that has no intrinsic value. No intrinsic value means it can't be used to produce anything that anyone wants outside of its capacity as an intermediary of barter.
The intrinsic value comes from the usage of energy and computational power to create a new type of scarce resource.
That is equivalent to saying that silver has value because it takes time and energy to mine it.
That is completely false.
Silver has value because it has been used in adornment for thousands of years. It has value because it is arguably the most important material in all of our electronic technology. It is used to produce many, many things. It is a tangible item that other people want, and it has been such a desirable for all of human history.
There is nothing produced in energy devouring cryptos. There is no value in lost energy that can no longer be used to produce anything.
It's value will be a ratio of physical mediums unless no physical medium satisfies the needs of the commerce ecosystem.
This is a benefit to crypto, this is not a "value". This same benefit can be achieved by every crypto that is backed by something.
Let me give you an example of what I think we will have in the future (if we win the war for We The People).
If a stock in a company is put on a blockchain, that stock becomes a cryptocurrency of sorts (an easily tradable commodity). It is backed by the production and value of the company. I think all companies will have such backing, making them easy to invest in, and difficult to destroy for nefarious purposes (i.e. short out of existence).
Or take a crypto backed by gold or silver for example. Such things exist but they aren't desired because its only as valuable as the precious metal itself (which is my point). It doesn't have the "gold rush" (pun intended) quality of all the fiat crypto's that are backed by belief.
If going forward we were to have a crypto backed by gold as a standard intermediary of barter then we would have an economy that is completely stable baring some sudden influx of massive quantities of gold.
Protests of such a PM backed crypto are usually hypothetical asteroid mining of gold. But such a hypothetical would never be "sudden" by any measure. Even if our gold supply tripled in a couple decades under such a system it wouldn't even come close to having the economic volatility impact of your average fiat crypto used for the same purpose. It would be an easy transition that we could work out in such a system.
I insist its fiat unless its backed by something that can be used toPRODUCEa tangible asset.
Sounds legit, just bought $10k worth
I have yet to see evidence that BTC is anything but controlled opposition. The CCP holds most of it (which is just an arm of the DS). Despite all statements to the contrary all transactions are easily tracked (time, place, people, goods) by entities like the NSA (which many countries have an equivalent).
Most importantly, none of the big cryptocurrencies are backed by anything physical.
I think the idea is great, and will likely be a part of the path forward. I think all securities will eventually be blockchain (that's an example of a BACKED crypto). Atm however, I think the evidence suggests all these fiat cryptos are controlled opposition. Further, I think they do the opposite of what people think they do in the fight against the DS (i.e. they take away from the power of the people with the illusion of the opposite).
Fiat currency is fiat currency, no matter how much rose perfume you pour on it. If it isn't backed it loses all value as soon as someone (with enough power and money) instills enough doubt that faith evaporates.
A fiat currency is any intermediary of barter that has no intrinsic value. No intrinsic value means it can't be used to produce anything that anyone wants outside of its capacity as an intermediary of barter.
What intrinsic value do any of those have?
That is equivalent to saying that silver has value because it takes time and energy to mine it.
That is completely false.
Silver has value because it has been used in adornment for thousands of years. It has value because it is arguably the most important material in all of our electronic technology. It is used to produce many, many things. It is a tangible item that other people want, and it has been such a desirable for all of human history.
There is nothing produced in energy devouring cryptos. There is no value in lost energy that can no longer be used to produce anything.
This is a benefit to crypto, this is not a "value". This same benefit can be achieved by every crypto that is backed by something.
Let me give you an example of what I think we will have in the future (if we win the war for We The People).
If a stock in a company is put on a blockchain, that stock becomes a cryptocurrency of sorts (an easily tradable commodity). It is backed by the production and value of the company. I think all companies will have such backing, making them easy to invest in, and difficult to destroy for nefarious purposes (i.e. short out of existence).
Or take a crypto backed by gold or silver for example. Such things exist but they aren't desired because its only as valuable as the precious metal itself (which is my point). It doesn't have the "gold rush" (pun intended) quality of all the fiat crypto's that are backed by belief.
If going forward we were to have a crypto backed by gold as a standard intermediary of barter then we would have an economy that is completely stable baring some sudden influx of massive quantities of gold.
Protests of such a PM backed crypto are usually hypothetical asteroid mining of gold. But such a hypothetical would never be "sudden" by any measure. Even if our gold supply tripled in a couple decades under such a system it wouldn't even come close to having the economic volatility impact of your average fiat crypto used for the same purpose. It would be an easy transition that we could work out in such a system.
I insist its fiat unless its backed by something that can be used to PRODUCE a tangible asset.