AND FROM OUR FAVORITE "AMNESTY" RAGAZINE ---- You Can Forget About Crypto Now
(www.theatlantic.com)
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You can forget about crypto, if you rely on crypto exchanges.
If you don't own your crypto keys, you don't own your crypto.
crypto = grift always has
Blockchain technology is definitely going to be the future for many things. The tech still has a lot to mature before it can be a "freedom tech".
Once a good blockchain tech is built, and we take the magic money (fiat currency) out of this world, cryptos have a place as well.
Anything - be it crypto or anything else - that people buy because its going up in value, is almost always a scam. In future, a viable crypto system would be a tool and not wealth. It wont shoot up in price, but it can provide 100% transparency in anything that requires 100% transparency.
Imagine stocks on blockchain. Imagine every single transaction of every government entity on blockchain. Imagine all the transactions of charities on blockchain. These are just starters for a free new world.
I sat and watched a show that was explaining crypto. I wanted to understand. So I watched as two individuals who understood crypto explaining how it works. After 2 hours they never connected the dots. They would be getting to a point, then say. Hold onto this we will come back to it. Guess what, they never got back to the point. They kept bring in something else. At the end they were high fiveing each other and yuking it up. They were like and that's how crypto works. I was like, how does it work that was all bs. I will never flush money down the toilet with this ponzy scheme. Here is their magic boogy man word that explains everything. BLOCKCHAIN. more like jerking my chain.
I will explain crypto in 5 mins. You don't need more than that. First I need to explain blockchain, that will take 4 mins. The remaining 1 min for crypto.
Think of Blockchain as an accounting book, a virtual accounting book, in which in, anyone can write their name on a new page and it becomes their page.
Imagine this person who wrote their name in a new page, being able to dig for a specific treasure, and each time they find one, they can go and write it down in their page.
No one else can write in your page. Only you can write in your page. You cannot write down you found a treasure unless you did indeed find it. No two people can claim the same treasure.
Finally imagine that each person can transfer the treasures that are recorded in their page, to any body else's page. And once they do it, its crossed out of your page and written into the other person's page.
So either you can discover a treasure and enter it in your page OR someone else can transfer the treasures entered in their page, to your page.
Imagine that all this is possible, because this Blockchain accounting book exists on the computers. And the reason why no one is able to make a mistake with this Book is because everyone whose name is in the book is always watching the book to ensure no one else is up to any shenanigans.
Also imagine that this particular treasure has no value other than being able to be entered into the book.
If you have successfully visualised so far, congrats, you understand the essence of Blockchain technology.
Now what is crypto? Crypto is nothing but the said treasure. It has no inherent value of its own, except being able to be recorded in the Blockchain book, and to be transferred to other people's page.
These are the facts. Anything beyond this is an opinion by some one or another.
Crypto has always been a Ponzi scheme.
u/#q2619
Then you realize the whole FIAT money system is a ponzi scheme. They litterally print unlimited money and have trillions of dollars in non-existent derivatives and inflate the stock market using the printed money.
Absolutely. But the current fiat system was started by being backed by Gold then they removed the Gold backing and started printing it, essentially fooling people into using paper as money. They didn't just start it from nothing. Unbacked crypto is fundamentally flawed and will never be successful.
Get physical Gold and Silver while you still can. But you are on this board so you probably already have. :)
Who knows how a proper system will be implemented but crypto technology could be used for good if properly audited and tied to physical non-inflationary assets with a finite supply... After the FIAT collapse there still needs to be a way to transact around the world without exchanging physical bullion bars lol.
And yes, you guessed correctly 😂. For the past year all of my extra money has gone towards stacking silver!
Some of these projects are interesting, but transparency and confidence needs to be key. https://www.goldscape.net/gold-blog/gold-backed-cryptocurrency/
I agree.
Silver is the most undervalued commodity on earth IMO. I also invested in Kinesis KVTs.
Kinesis monetary system is like a silver and Gold bank account. The metal is held in vaults with your name on the title and is fully insured. You can use your Kinesis debit card anywhere that accepts Visa. You can actually set it up so your paycheck gets directly deposited into your Kinesis account so you are literally getting paid in Gold and Silver. Plus you get paid a yield for using, holding, etc. Transaction fees go into a master fee pool and get divided up and paid back to the users every month. Plus you can take delivery of the physical metal any time you want. There is a min amount for that though. 200oz Silver and 100g Gold.
It is a way for us to remove ourselves from the Central Banking system. It is genius in my opinion
https://www.reddit.com/r/Wallstreetsilver/comments/mmvjbu/kinesis_monetary_system_in_depth_due_diligence/
This looks great, thanks for the tip. I was wondering what some of the best projects were. My goal is to get most of my money out of the banks so I'll have to look into this. The ease of Debit/visa transactions is defnitely the biggest hurdle to get around especially when paying bills.
You will find some interesting info about this at http://roadtoroota.com/
I listen to Bix all the time. I'm aware of his feelings towards certain cryptos. Most of my money is already in stacked physical silver in my own possession, so im not too concerned. I just want a way to spend with debit/visa and to pay bills outside of the banks, which I know could possibly implode at anytime also lol. Atleast certain places attempt to be backed by physical assets.
Translation from Cabalese: "If we cant control it, you cant have it"
exactly!