Right now, we exchange USD for crypto. What if the currency collapses? How would you buy? Can’t spend USDs… so what do you do? Gotta eat!
The only way it could work (a transition) is to allocate bitcoin to everyone… if you have it and we don’t! We need something to trade with … to exchange. Hey I’m not giving up my land or house for it! So what funds this transit? A fair estimate of global assets held by and controlled by… all the folks that met in Davos last week! Safe estimate that’s about 3-4 hundred trillion!!
They think they alone run the world (their own proclamation). No problem, Yea, we get that. But sorry, we’re taking it back to fund a much better model. We’ve now seen yours and it sucks. Seriously sucks!
Trump put the legal framework in place to seize it all before he left. So no worries about survival… there really is plenty for all to build a much better place than what these deranged folks ARE doing.
Precipice? Views aren’t bad at all. The criminal mind isn’t the architect nor the artist of the view on the other side. Excited yet?
I’m betting on gold and silver.
Russia is already showing us the direction. They went gold backed and the value of their money doubled. And Trump has very clearly stated many times that he wants a gold back US dollar.
US Dollar, not Federal Reserve note
Russia also made the Ruble pegged 1:1 with gold and interchangeable, so it's not just "backed by". It's literally cold hard gold in physical storage.
The German Reichsmark used a similar concept, only with land and products sold to the government as the pegged asset, because their gold reserve where seized after the first world war.
You can do this pegging with any asset that is fungible and scarce. Tho for a government caring about it's people it makes most sense to use whatever they have on hand at the moment.
What happens if there is a worldwide blackout?
there will be a new system when the lights come back on,
but not the Rothschild version.
If its digital than all of this is a psyop against us because a digital currency is the last thing we want. It would give them ultimate control over us.
Yeah down with the banks! Wait youre charging me for every single crypto "banking" transaction? Lol how is that any better?
When the power goes down you have no money whatsover. It doesnt exist for that time period. Do you plan on giving the gas station attendant a crypto iou? How well do you think thats going to go over? Even worse, in a full shtf scenario a digital currency will be the least valuable thing in existence. Worse less than a bottle cap.
And i have no intention on trading my phony paper money for phony digital money.
Gold backed US dollar /endofdiscussion
When i purchase products from the store with cash i have no fees at all. Are you confused?
Or get this, through my bank app i can transfer money to anyone with zero fees.
Or get this, there are at least a dozen major banks with 0 fee wire transfers.
You system is the only one that charges a fee. And the people holding the billions of dollars in equipment receive ALL of those fees. The rich leeching money from the poor by charging them a small fee for every single transaction. How is that not a ponzi scheme again? And how is that any better than cash? My cash purchases arent making the wealthy wealthier.
That is not inherently true.
The way Bitcoin was supposed to be used, and still is by many, is taking ownership of your private keys to the wallet you create yourself. When done that way anonymity is 100% possible even with the permanent record of transactions in the Blockchain. The only way you get outed is by revealing what your wallet address is.
The current state of crypto is people have outsourced the creation of their wallets to a 3rd party, typically an exchange. When you hold your crypto in a wallet they made you don't actually own anything, it can be seized because you don't have the only copy of your private keys. Someone else does. So it isn't private at all.
A lot of people are going to get wrecked by outsourcing who holds their keys.
Billions have been stolen from hacked wallets. There is no inherent safety. And every transaction is tracked. If the traffic from a particular IP address is monitored, then every outgoing transaction from a wallet can be intercepted. The addresses associated with such transaction(s) can therefore be recorded and a link between a wallet and IP address can be established.
There is no safety or anonymity.
Exchanges get hacked all the time. That doesnt help your case. But wallets are hacked just as easily as a credit is. Email phishing scams or phone calls, the most basic of scams.
But outside of that bs, physical wallets can be "hacked": https://www.reddit.com/r/hacking/comments/sd3k01/how_i_hacked_a_hardware_crypto_wallet_and/
https://www.theverge.com/2022/1/24/22898712/crypto-hardware-wallet-hacking-lost-bitcoin-ethereum-nft
Also random coins and nft's are covering smart contracts that can clean you out. Look into "smart contracts".
Lots of ways to do it. You must not understand it very well if youre never heard of any of these. There are countless others.
But phishing for seed phrase or private key
Physical wallets can be broken into
Smart contracts.
Just to name a few.
You worry me. You know enough to speak intelligently on this and yet you are speaking half truths. On who's behalf?
"Billions have been stolen from hacked wallets." Ignoring the hyperbolic figure for a moment, it is true people's wallets have been 'hacked'. But more often that hacking isn't a vulnerability of the wallet itself, it's something like the person had a keylogger installed on their machine and didn't realize it, someone intercepted their keys/credentials, they got simjacked and had some digital wallet on their phone that they didn't own the private keys to and someone ran off with their money. I am not aware of any BTC owner with an offline wallet they created themselves and had sole ownership of the keys losing a single Satoshi.
"There is no inherent safety. And every transaction is tracked." This has been well understood since the beginning. The Blockchain is a ledger that holds every transaction. Saying there is no inherent safety is an obvious statement. If a guy uses is credit card for a lapdance at Sleazy Susan's Lapdance Emporium and his wife sees it on the CC statement, or if he pays cash but for some ungodly reason has a receipt she finds in his pants pocket that isn't a failure of the credit card or the cash he used.
"If the traffic from a particular IP address is monitored, then every outgoing transaction from a wallet can be intercepted." Yeah if the crypto user decides to give away that information by using their home internet connection to do illicit deals with crypto they can be traced. That's not really a revelation of anything.
"The addresses associated with such transaction(s) can therefore be recorded and a link between a wallet and IP address can be established." This is why multiple other so called privacy coins and tumbler services that act as a middlemen for transactions exist.
"There is no safety or anonymity." In general I agree. You should assume everything you do online is being stored indefinitely. This includes the phone in your pocket collecting location data 24/7. That being said this is just the latest stage in the cat/mouse game. Cryptocurrency when used correctly can make transactions anonymous and private. If the user doesn't bother to research it enough to understand how that isn't really a failure of the technology, its a failure of the user. Now that so many exchanges make it easy to buy BTC by clicking a few links and having them spin up a wallet many people will no doubt take the easy road and likely lose it all.
The underlying sentiment of your post I believe I agree with. Crypto can usher in an age of enhanced tracking, and definitely some powerful people and nation states would like to see that happen. Someone once said 'technology is an amazing enabler, but it's a much more effective oppressor', IMO that's all relative to the amount of attention and effort the end user brings to the table when it comes to crypto.
The biggest selling points of crypto was anonymity and decentralized. It is neither of those things.
Exchanges loose billions, who pays that price. When the elites that own the vast majority of crypto sell off billions worth devaluing your money, who pays that price?
Crypto has all of the same problems as cash with boat loads of added complexity and the tiny problem that it doesnt exist when theres no power. There are no benefits.
We should all fear a digital currency. Imagine for a minute a social credit score and digital currency where they 100% own you. They can shut it off or limit your ability to survive with a key stroke.
I do like that quote, im going to have to remember that one. Do you know the author?
The only thing we need to fix with our currency is changing out the petrodollar for a gold back cash system. Physical assets that we can all own and hold on to that has real inherent value.
I recently read that the official policy of the WEF & Davos crowd is to base their new, intended world currency on CBDCs Central Bank Digital currencies.
This is not using Bitcoin, which is a "freelance" currency and not manageable by Rothschild to the degree that he wants. It is a new range of Rothschild issued currency units based on blockchain but managed at a very granular level (by Rothschild)
But his side is visibly losing and the pot is all-in.
https://www.zerohedge.com/geopolitical/mastercard-ceo-swift-payment-system-may-be-replaced-cbdcs-five-years
Bitcoin is good at what it was made for. But Bitcoin has terribly long transactions times and high fees. Large amount of transactions for the world economy would have to be built on a completely new blockchain especially for the transaction times.
Don’t believe Bitcoin will replace the USD. The Government will create one of their own.
"We have the GOLD"
Unbacked crypto is a Trojan horse for CBDCs. STOP buying into their scheme.
It is EXTREMELY important to understand the difference between Money [Gold and Silver] and Currency. https://youtu.be/DyV0OfU3-FU
Maybe the mysterious Satoshi will reveal himself and distribute the rest of Bitcoin
They're planning on a USD collapse, which has been in the work for decades. They already introduced the World Currency, aka: Central Bank Digital Currency (CBDC) which the World Bank will control and everyone will be forced to use this digital currency. They will ban all other crypto, and you will be stuck holding the bag... just a reminder, all crypto is tethered to the USD... if or when the USD collapses, so will your crypto. Best bet is physical gold and silver, because if they plan an EMP and our ancient power grid goes down, so will your digital bitcoin and other crypto money. It's going to be gold, silver, food, water, and other goods and services that will reign king. Better find a physical skill, better stock up on food and water.. and not crypto digital nothing that is tied to junk stocks bonds loans and fiat USD.
Yeah but with what electronics? If that ever happened, guess what, you have no money. If it isn't physical in your hand you don't have anything. That's why they want to get rid of the dollar in the first place, so we can no longer trade, sell, and buy with physical currency. They hate that they cannot track those transactions, so the disappearance of the USD and a re-creation of a digital currency that will be internationally controlled by the World Bank, all transactions can easily be tracked and traced.. because eventually they want to tie that to a carbon tax... each person will have their own digital ID that will have your carbon footprint score.. if your score is too high, you can't buy certain things. That's the level of control they want. Your crypto was a beta test by the CIA to see how to set up blockchain and all of the essentials they're going to need to create the new World Currency (CBDC). Your crypto is tied to a falling fiat currency, that will be dead in a few years. So I would really consider investing in something that everyone needs, something that has been traded as money for thousands of years: gold, silver. etc.
YOU FORGOT WATER, THE. MOST. IMPORTANT.
Yeah but gold will become a wealth storage device again.
What is gold traded for today other than USD?
that's a good question. The question crypto enthusiasts should ask, why is bitcoin tethered to the USD? and wtf is going to happen when USD collapses?
Which is why I'm asking you about it. Many stores around the world accept Bitcoin and other cryptocurrencies, especially online retailers are quick to support it as it removes the need for KYC, allowing even small businesses to be GDPR compliant while at the same time lowering their cost of operation.
Nothing really happens to Bitcoin when the USD collapse, it's pegged to a wide variety of fiat currencies already, Ruble, EUR, Yen and many more. It's pegged to metals, the housing market and many more places. Initially some sites and api tracking the exchange rates will have some trouble but that should be fixed within a few hours on most sites.
This also brings up another question, what do you think happens to the US when USD collapses? And whatever plan they have, are you just gonna swallow it or will you resist?
How's gold gonna save you if no business is accepting it? if there's not even infrastructure to safeguard a stash of gold or verify that it's real and not some brick wrapped in goldfoil.
All of crypto is about to be drained to zero as they the scam falls apart and they try to survive the gamestop saga another day.
Also we should fight everyday against a digital currency. That is the very last thing we want.
Also trump said many times over that he wants a gold back US dollar. And we've already seen where the plan is heading with russia going to a gold back currency.
Regardless of what's implemented... it will have 100s of trillions in assets backing it up for everyone.
Crypto will have 0 dollars of assets after they are drained. Average joes dont old a single percent of any coin. Bitcoin for example is held almost entirely by four private chinese pools. Very centralized.
You are missing the point. Infuse any current doesn’t matter which, with 500 trillion in assets and it’s more than enough for all.
They will all be drained to live another day in the gamestop saga. Look at the huge sell offs. They happen simultaneously across all coins.
The elite own all crypto and charge you a fee to play their game.
Each Bitcoin transaction consumes 1,173 kilowatt hours of electricity. That's the volume of energy that could "power the typical American home for six weeks,".
What is the benefit of a digital currency? There just isnt one.
Gold backed cash is all we need.
Im sure they invested in a lot of things. Theyre heavily invested in nft's which is one of the biggest and laughably stupid scams of this decade. Let me sell you a 5th graders pixel art for a million dollars lmao. Theres a sucker born every minute. Im sure theyre riding the wave of all of this bs. They also had huge pressure from the reddit crowd to get involved in these techs.
Gold back US dollar /endofdiscussion
Nft's will vanish faster than crypto does. Such a laughably stupid concept.