Did we just get a confirm on Marker [9]?
Hunter pleads guilty to all 9 Counts.
And just for kicks... Hunter could face 17 years
(media.greatawakening.win)
LET'S GOOoOoooo!!!
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If we ever see another implementation of the gold standard, it will be for a short time.
The gold standard is great for a local economy (within your same town) but it does not make efficient long distance transactions (state to state or international). Any long distance transaction with gold requires additional security and transportation costs. Also anyone you trust to deliver your gold for a long distance transaction is essentially a bank. Banks that are most trusted in gold transactions and grow in power will eventually repeat the whole fiat cycle we're in to get more resources.
Long distance transactions will be where crypto comes into play. As long as the electricity and internet are stable (or perceived stable), crypto with good fundamentals will be extremely successful and used by the world. Some good fundamentals are: limited supply, decentralized in ownership (a few don't hold everything in the blockchain), scalable to millions, proven code security and not a history of security problems.
Crypto doesn't require a 3rd party to transact like gold does. It comes with benefits of gold in having a limited supply and electronic fiat in that it can be transacted near instantaneously around the world.
But you have to research a lot to find the one you think is good. Every one has pros and cons, even Bitcoin has its flaws and that is normally the go to.
I personally am a big fan of Cardano but don't take my word for it. Research proof of work, proof of stake, Bitcoin, Ethereum, XRP, Cardano... Any of them in the top 20 on coinmarketcap is worth at least an internet search to find out what its about. You will quickly realize several are not worth your time going into deeper for investment.
The ones that are worth their salts are blockchains without hacks, without downtimes, that have a functioning way to upgrade their blockchain, that have active developers... Many will have a few here, a few there. You want one with it all.
The Gold Standard is going world wide, or at least will be the new world currency if the US implements it...the way it should have been, or even now, but not based on oil.
I have crypto, but at most, it'll be a store of value currency but not what some think it'll be. The tech will probably be used on the back end, but it's not what every person will transact with in daily life. Call it the new SWIFT system if it gets that far.
On the Gold Standard how do you fix the problem of paying extra security fees and transportation costs. Also long distance travel takes time, how will we have near instant transactions on a gold standard?
I don't think you understand how a block chain works, you don't need a 3rd party bank like you would if you routed money through the SWIFT system and its not controlled by a central authority.
Crypto and blockchain will be much more than a store of value, it will be THE way of exchanging vaiue in the future. People will use crypto and block chains everyday whether they know it or not. If you think otherwise then it's not worth holding as a "store of value".
You don't send the physical, that's held in vaults like it used to be. That's also how you have actual backed paper money. If it's pegged on, let's say the blockchain, now you have an electronic version that can be sent. If not, you also have the paper form, but that's not nearly as efficient, but beats physical delivery of course.
I was using SWIFT as an example of every day transactions that society does. They'd use it without ever really knowing it, kind of how we all use a card for transactions. We already have multiple blockchain projects that utilize a payment card. People will have the option to send it directly themselves of course, if they already have wallets setup. But your every day normie would use a debit card just how they do now.
I was referring more to store of value, because once crypto starts being used across the world, it will no longer be a massive rollercoaster in price swings. The ones used will be much more stable. If it's not, then it's just another form of highly volatile money, and that's not sound.
Then your not fixing the problem, just the symptom. Whoever holds the gold and controls the vault is the bank and the bank eventually pushes for fiat currency and the situation we're in.
Even if you're using a block chain to report the gold amounts, you have to trust whoever is providing the gold data. The entity you trust essentially becomes the bank.
You would need some way allowing anyone at any time to physically audit the gold while also keeping the gold secure from thieves. I don't think that is possible.
You start off with a based gold standard and banks will try to push to lend out more more money than they have so they can get more resources faster. Eventually you have an economy that is all run on debt like we have now and money that is not based on any value except that debt. The decay is much faster because of the 3rd party bank.
Crypto breaks this cycle because it takes out the 3rd party which is the bank. Nobody can access that crypto but you and whoever you explicitly give the seed phrase. As long as you have a healthy number of people validating the transactions (big part of decentralization) you don't have to worry about someone controlling your transactions.
If something goes bad with a crypto, which is always a possibility because everything decays over time, then someone else can take the open source code of the crypto and fix what causes the issue and release it out to the public for people to use if the want. The market will then decide which is best to exchange value. If there are no red tape regulations, this process can be made smoother.
If used like money everyday, eventually you are going to have a few people controlling all the crypto just like you have now with dollars which make the crypto not so decentralized anymore. The big difference is there is a much more streamlined process to improve on previous mistakes and the decay should be a lot slower. No more Triffins Dilemma for a world reserve currency either.