Anyone with knowledge of this ?
(media.greatawakening.win)
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Not a financial expert by any means but this is my understanding. Correct me if I have this wrong.
Nothing is completely impervious to crime. But, by making currency based on hard asset makes that crime more difficult because it would require actually stealing a hard asset. The latest fraud by GoFundMe should be a huge wakeup call as to how easy it is with a digital system to completely wipe out wealth; wealth that in reality was only an illusion to begin with. Fiat currency only has value that people place upon it. We have been conned into using these fiat means of exchange because bankers have made us believe that they have value. We use that fiat system to purchase goods and pay taxes. That includes all forms of digital and paper currencies that are backed by nothing.
The only things that have real value are those things that have that value intrinsically. Those are things that can then be used as a means to give value to currency - just like we used to have. We used to have a system based on precious metals. That was taken away from the people by the bankers and traitorous politicians. Those that control this fiat system are the biggest criminals of that system.
We the people could come up with a system of exchange that would bypass the bankers if we really wanted to. We could trade in beans if people believe that it has value as a means of exchange. If we are going to create a parallel financial system, bartering real goods and solid money based on real tangible asset is the only way we are going to solve this problem and stop them from stealing from us.
It's not crypto, it's sometimes how it's stored. Wallets, safes, etc can be hacked, broken into, but the currency itself, no.
This is the truth with any currency. I understand your perspective on a store of value and gold/silver backed money as I agree... Truth is, the same can be done with crypto as well. XRP is said to have the capability.
Money is a strange thing though, it's really just what the collective agrees to as a form of payment.
We need better money, for sure... But nothing is perfect and nothing is crime proof.
Crypto has a ton of potential tho. Don't discount it just yet.
I am looking forward to an asset backed crypto like XRP. I agree with you that nothing is completely fool proof. I apologize for giving the impression I was poo poo about crypto. I just think there are too many that have overinflated its worth at this point. It does have potential, true. But at this point, its value only lies in what people are willing to place in it. And as I clarified in another reply, I should have made myself more clear. The Bitcoin requires all the rest of the transaction process to make it work and Bitcoin cannot be separated from it. That is where all the problems lie. Not in the Bitcoin itself. A chain is only as strong as its weakest link.