Any asset backed by faith fails when faith is gone. The PTB have been controlling faith for thousands of years. Thinking that crypto is beyond their reach is the ultimate naivety. They own all the money in the world (literally, its theirs). They use the crypto market as a pump and dump for stock market manipulation. It's all theirs.
Having said that, I think that crypto absolutely will be the currency of the future, but not one backed by faith. At some point we will have the infrastructure for asset backed cryptocurrencies. There are fledgling companies that provide such a system with limited exchange now (like Kinesis). Stocks are an obvious path to create an asset backed crypto. The stock market will almost certainly become a crypto market in the not too distant future. Gamestop is already showing the way, though it hasn't yet gone full "stocks as crypto" yet.
At some point the system of fiat currency will fail completely. Once the game is fully exposed, and people really understand what it is, and what it's for, no one will want anything to do with it. The entire crypto market could easily crash completely before that reveal (it is owned by the PTB despite everyone's protest that it is beyond their reach), but even if it survives to the Fiatpocalypse, it won't last past it.
All of the crypto's in use today (except those few backed by an asset) are not assets. It can't be stated more simply than that. Btc et al is not an asset. It has no value except what other people believe it does. Only real assets are reasonable long term investments. Anything else is just trading one fraud for another.
Once again I agree with you Slyver. The period of transition between fiat system and another (even gold backed) might be through crypto as we see it now but I expect deep correction and last bull trap pump before it happens.
my question wasn't based on fear it was posted so I can learn more about crypto, how it works, what other's think of it and how it may or may not be part of the future
Dump...? Why on earth would you want to do that...? Lots of Brilliant projects out there that have real-world use, that actually help people...Fast transactions, low fees, etc....Check out Allbridge(ABR)...Very exciting...
This is because you are not thinking clearly.
What we are looking at is a control grid. Ultimate control. The church of the almighty state. This church has one goal and one goal only: to break your will to be different than they allow you to be.
Kill crypto? they have no such wish. They will incorporate crypto and suck it into their orbit. And you only get to play with it within certain bandwidth and if and when you keep following their rules. As we speak: the crypto sphere is already being sucked in.
I move from the position of the initial source and why it was developed. It needs a couple of things:
its own energy supply.
its own infrastructure for communication.
Solve these two, and no amount of .gov repression can suck it into their orbit. Otherwise, it is easy to see how such dependent systems are bound to be BORG-ed.
Thank you, but no. I have had my share of wasting my time on a wild goose chase. Energy en infra independence is key. Once you can see that, all falls into place. The same requirements apply to any coin, with or without intrinsic value.
I do agree, some solutions are very interesting from a theoretical point of view. However, more practical and pressing considerations make these solutions hardly the stuff that escapes being sucked into the BORG-orbit.
Allow me to pile on my previous espoused view concerning the infrastructure for communication.
Most critically, because internet service providers (ISPs) ultimately control the transportation layer of the internet, they could discriminate against packets coming from or directed toward a blockchain-based network, effectively tampering with its operations.
Internet governance can therefore have a significant impact on the operations of a blockchain-based network. Particularly relevant in this context is the “net neutrality” debate. The practice of packet discrimination makes it possible for ISPs to favor certain blockchain-based networks, at the expense of others.
Think about what this Harvard Professor Lessig says in terms of control. How do you hinder a product to operate? Logistics and discrimination, deference to law enforcement.
So you do think the new banking system will go through? I have a little ALGO and XRP, but was thinking, if the central bank is taken down, what happens to those projects?
Any asset backed by faith fails when faith is gone. The PTB have been controlling faith for thousands of years. Thinking that crypto is beyond their reach is the ultimate naivety. They own all the money in the world (literally, its theirs). They use the crypto market as a pump and dump for stock market manipulation. It's all theirs.
Having said that, I think that crypto absolutely will be the currency of the future, but not one backed by faith. At some point we will have the infrastructure for asset backed cryptocurrencies. There are fledgling companies that provide such a system with limited exchange now (like Kinesis). Stocks are an obvious path to create an asset backed crypto. The stock market will almost certainly become a crypto market in the not too distant future. Gamestop is already showing the way, though it hasn't yet gone full "stocks as crypto" yet.
At some point the system of fiat currency will fail completely. Once the game is fully exposed, and people really understand what it is, and what it's for, no one will want anything to do with it. The entire crypto market could easily crash completely before that reveal (it is owned by the PTB despite everyone's protest that it is beyond their reach), but even if it survives to the Fiatpocalypse, it won't last past it.
All of the crypto's in use today (except those few backed by an asset) are not assets. It can't be stated more simply than that. Btc et al is not an asset. It has no value except what other people believe it does. Only real assets are reasonable long term investments. Anything else is just trading one fraud for another.
We already have that. See:
Once again I agree with you Slyver. The period of transition between fiat system and another (even gold backed) might be through crypto as we see it now but I expect deep correction and last bull trap pump before it happens.
HODL SHIBA INU!
my question wasn't based on fear it was posted so I can learn more about crypto, how it works, what other's think of it and how it may or may not be part of the future
have a bit of precious metals already... adding to it as I can
Hold it. Nobody knows what's going to happen.
Dump...? Why on earth would you want to do that...? Lots of Brilliant projects out there that have real-world use, that actually help people...Fast transactions, low fees, etc....Check out Allbridge(ABR)...Very exciting...
DITCH it. it is a trap.
The only way you can avoid it being a trap is:
Now you have solved the two major bottle necks. But then again, it will not be something that is convenient for everybody.
If you cannot hold it, you do not own it!
This is because you are not thinking clearly. What we are looking at is a control grid. Ultimate control. The church of the almighty state. This church has one goal and one goal only: to break your will to be different than they allow you to be.
Kill crypto? they have no such wish. They will incorporate crypto and suck it into their orbit. And you only get to play with it within certain bandwidth and if and when you keep following their rules. As we speak: the crypto sphere is already being sucked in.
I move from the position of the initial source and why it was developed. It needs a couple of things:
Solve these two, and no amount of .gov repression can suck it into their orbit. Otherwise, it is easy to see how such dependent systems are bound to be BORG-ed.
Thank you, but no. I have had my share of wasting my time on a wild goose chase. Energy en infra independence is key. Once you can see that, all falls into place. The same requirements apply to any coin, with or without intrinsic value.
I do agree, some solutions are very interesting from a theoretical point of view. However, more practical and pressing considerations make these solutions hardly the stuff that escapes being sucked into the BORG-orbit.
I am fine with us disagreeing.
Allow me to pile on my previous espoused view concerning the infrastructure for communication.
https://www.coindesk.com/markets/2018/02/28/no-blockchain-is-an-island/
Think about what this Harvard Professor Lessig says in terms of control. How do you hinder a product to operate? Logistics and discrimination, deference to law enforcement.
I am a gold and real estate guy. Much longer track record and I understand them, whereas I don't totally get crypto.
I'm buying and holding. I need to consolidate my assets more though
You are relying on two things to never fail with crypto and that's the power grid and the internet.
Not saying much more than that is not a safe bet...
Tezos - most decentralized and natively proof of stake.
XLM/ BRAVE token. Great performance so far, has a very convincing business model, not just "yep, we're a crypto token".....
So you do think the new banking system will go through? I have a little ALGO and XRP, but was thinking, if the central bank is taken down, what happens to those projects?
That is an interesting strategy away from the propaganda. I do hope you also know when to call it quits.
I just bought a bunch more RVP this morning!! Crypto isn't going away.
The demand for RVP's tech is HUGE!!!! Its the most undervalued coin IMO
https://twitter.com/radioevrazia/status/1468752593090404357?s=20
100% spot on...