This is part 2 of a series of posts Part 1: wtf is cryptocurrency? https://greatawakening.win/p/15JTbBnmbx/wtf-is-cryptocurrency/
In part one I attempted to explain the more major mechanisms behind how crypto works.
IS CRYPTOCURRENCY EVIL?
Well it depends on how we view evil. Put simply, I consider evil to be arbitrary or selfish intentional harm of another and international physical or social cruelty.
In the end, we must divide crypto into classes of crypto in order to make sense of this question.
Just because I don't like raisins in my cookies, didn't mean I don't like cookies.
What are the classes then?
There are two major subvariants of cryptocurrencies: PoW and PoS.
Proof of stake is a system that runs on money. I'm sorry to people who like it, I think it's evil. CBDCs are centralized proof of stake coins. In PoS, because of shaking minimums, only the rich can participate, so only the rich get richer.
Take eth as an example. Running an ethereum node costs 32 ETH minimum stake.
I currently feed my children mining ETH, when ETH becomes PoS I won't be able to contribute to the network any more. Only people with 32 ETH or 70K$ CAD to buy 32 ETH can mine.
In proof of work, the barrier to entry was a graphics card. In proof of stake, you have to be rich.
Crypto itself is just a technology. I see it like an assault rifle. We can either shoot the cabal with it, or we can let them take our guns to use against us.
The centralization of power is theft and is therefore evil.
The decentralization of power returns power to the individual from whom it was stolen and is therefore good.
Who creates power?
God.
Donald Trump Says Crypto Is 'Very Dangerous' — Warns of 'Explosion Like We've Never Seen'
https://news.bitcoin.com/donald-trump-crypto-very-dangerous-warns-of-explosion/
Does Trump support cryptocurrency? Here’s what he said.
“I’m a big fan of our currency and I don’t want to have other currencies coming out and hurting or demeaning the dollar in any way,” Trump said. “If you look at a monetary system based on the dollar, if you start losing credibility, all of a sudden you’re going to lose that strong monetary system,” he said. “We have to be very careful about that.”
https://www.deseret.com/2021/10/7/22712384/donald-trump-support-cryptocurrency
Crypto was created with the premise of ending government control or overreach. Ending taxation and monetary devaluation through inflation.
What we see today is an upcoming end of the Federal Reserve. Biden is speeding that process along with crazy spending and debt accumulation.
When our economy breaks and hyper inflation begins, the dollar we know today will be dead. The Federal Reserve will hold responsibility for that, and they will be eliminated. Afterwards, a new currency backed by precious metals will be instituted.
With our new currency will come new monetary regulations. Printing of endless fiat dollars will not be permitted. The value of our new currency will be protected by eliminating current spending practices.
We do not want a monetary system like crypto working against the viability of our new currency. If our new currency comes with protections against the scenarios that spurred cryptos existence, doesn't crypto become redundant?
President Trump is pushing our society in a direction that eliminates the system that helped breed the corruption. (ending the Fed and endless fiat printing) He is pushing us back to a system similar to what our founding fathers put in place.
I also hear Trump want to end federal taxes and sales taxes will be used to fund the government. This way we can eliminate the IRS. If crypto is being used for sales/ purchases, this would jeopardize tax collection for government function. They will not like that.
Klaus Schwab of WEF is encouraging all countries to adopt crypto currencies, if that is not a sign to get out now, buyer beware...you were warned.
Donald Trump also says that vaccines are very very very good and safe and effective. The goodest and bestest.
Not everything he says is to be taken at face value. Trump is anti federal reserve. Making him pro Bitcoin. Whether or not he knows it already is a different question, just as the question about whether or not he is hiding his real position regarding Bitcoin for political reasons.
"Trump is anti federal reserve. Making him pro Bitcoin."
That's a false dichotomy, being anti Federal Reserve is not inherently also being pro Bitcoin.
Any new dollar should be good enough to compete against crypto currencies without having to make laws to enforce its value (which is fiat).
+10
Most people miss the fact that currency is just one application of crypto-based blockchain technologies, but their true application is far beyond it. It can provide a way for people to have and enforce contracts without needing a 3rd party to oversee it.
However, the concept itself still has a lot of holes, and I personally don't believe there is any blockchain out there that solves all the holes.
The holes are what gives the bad actors control and hence it makes the technology prone to become "evil".
How can I make some money!? My savings is dwindling… watching 5 years of hard work labor and little play flow away like water…
I saw source once that put the cia and darpa as the original creators of blockchain techz
Tough to say, I chose cryptomining for F.I.R.E. reasons.
Cryptomining isn't for the faint of heart. You need to be capable of taking massive hits to your income on some months and making great money on others.
CBDCs run on a federated byzantine consensus algorithm, not Proof of Stake.
Scroll down to the video, they explain it pretty well.
https://ripple.com/solutions/central-bank-digital-currency/
By the way, there's no barrier to entry here. Buy and hold through the financial system reset.
It depends on the specific CBDC you are talking about though...
Also, it does indeed look like there is no minimum stake to run a validator node on XRP.
Basically looks like stakeless proof of stake lol.
Looks like my income just increased.
Yeah
How to get started buying BTC? Cash app or strike?
Why all the down votes? How about pointing me in the right directions????? Shills are attacking BTC on the win.
I don't know, since it varies by country. But here are the steps that you should take to figure this out for yourself.
Acquiring coins:
Research options accessible from your country
Make sure the options are safe and prepare a list of safe ones
Compare the fees and all associated costs
Consider how quickly you can get your coins
Pick one accordingly
ONCE YOU GET YOUR COINS MOVE THEM TO YOUR OWN WALLET
If you keep them on a centralized exchange you could lose your funds to hacks (unlikely if highly liquid and reputable) or lose your funds in case of bankruptcy (same with banks in a financial crisis). But if you keep them in your own wallet the worst thing that can happen is you losing your wallet, so study up.