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.
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).
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