We are living in historic times, think back to the days when there was no paper money, and banks decided to start issuing out ‘I owe U’s’ that were backed by gold. Those were historic times, you were able to trade without the need to move around gold, which could be very heavy, risky, and hard to be made divisible.
Let’s not forget, before the gold standard, people were happy to barter (swap goods), if you needed a cow, and I had chicken, we would just swap. Money is just a medium of exchange that was supposed to make this bartering system easier because cows are hard to divide if you needed something worth less than a whole cow.
There are many theories about the dangers of a cashless society, including that it could even make way to the mark of the beast, and how Bitcoin is just numbers on the internet, how can it be trusted etc.
Technology can be dangerous, and it also can be good. I too was skeptical about a cashless society, but I realised, it is not that I don’t believe a cashless society is good. I now understand it is not a black and white argument about good or bad, it is more about when good ideas are used for control and manipulation, that is more of the problem and to force everyone to do one way when not everyone may want to, and the reasons behind the control.
I also realised there are millions of people that dont know how banks and money even work. Before for every ‘I owe U’ the bank issued to someone, there was gold in the bank for that ‘I owe U’ they soon realised they could now issue out more ‘I owe U’s’ that were not linked to physical gold, so you had more paper money than gold in the bank. Now many do not realise the same process has been happening for centuries.
Currently, America has been printing money like crazy, but they have not literally been printing money, just digital figures on their bank ledgers, this shows that digital currency is already here, there is way more digital money in everyone’s account than actual paper money floating around. This also results in huge problems when everyone wants their money and finds out the bank does not have enough.
The story of banks is also shocking, banks were set up as a way of storing people’s money and holding our taxes, the global leaders at the time were all interested in global conquest but they realised our tax was not enough to fund their wars, so they needed banks and debt to fund their wars.
Money is no longer just about helping people to live and exchange goods easily, this identifies the problem of concept versus use. People taking good ideas and using them for bad plans is the problem, not the money itself. Just like bitcoin.
This made me realise that bitcoin could even be a gift from above, an inspired idea to bring us back to the pureness of money, as now money is so heavily regulated and taxed that you have to wonder do you even own your money, and why is it being so heavily controlled, is this for the good of the people or the good of the few in charge.
There is even a famous hacker that believes we need to get away from this thinking of when we buy something it is not ours and it is still theirs, for example, he bought the apple phone and jailbroke it and believed this is his phone, how can he get in trouble for doing something to something he owns. He currently owns a company that is looking to make any cars able to self-drive by hacking and using the current technology systems within the car, as this will make it much more affordable for everyone, rather than the big car manufacturers selling it as a new expensive concept.
This takes us to the reason for having digital currency, and its original intent, although some might say it was for dark reasons so people could not audit what they were doing with the money and this would allow them to do criminal activity. There is also the freedom and ease of use of it on a global scale, which gets back to the pureness of money, and making international trading and exchanging more easier, and therefore help to grow smaller economies, as they will be able to sell their services globally.
No one knows the creator’s real identity although he goes by the alias Satoshi Nakamoto, but he managed to make the blockchain technology with a proof of work method to help it not be able to be hacked or manipulated by people. Now critics would say this is not safe although it has been for over 10 years whearas, just last week even the US national reserves system was hacked.
In addition, what many are not aware of is all the corruption that happens from those in charge of our money. Over the years if you collect the news articles you will hear stories of managers being arrested as they secretly used our money to fund wars in different countries, or were using the money for fraud and other areas to help grow their personal portfolios illegally.
Throughout history, we have seen after a while, people will nearly always abuse power when they have control of it. This is why I like the bitcoin and crypto revolution that is now fighting the corruption, although governments are also buying up the mining power and coins and are trying to plan to gain from it while trying to stop the individual people from being able to use it; however, on the scale of pros and cons, I believe this new revolution of digital money that is decentralised, is a key fight against corruption and helping to change the gap between the rich and the poor. FIAT money is failing because of how it has been used and is still being used.
Bitcoin this week, after 4 years has made a new all-time high record. We are living in historic times and I am glad to be a part of this bull run. There are projections that it will go from its current $21,000 dollars to between $100,000-$500,000 due to the fact in the last bull run it went 10 times up, so 5 times up is modest, but it could still do a 10x or more. And don’t forget the ALT coins like Ethereum, XRP, Litecoin etc, as they also do huge rises when Bitcoin is rising. Some would even argue the smaller ones will outperform Bitcoin as they are much more cheaper, and therefore the market will decide they are worth a lot more than they are currently set at, and then will all FOMO in.
Click here to read yesterday’s #CoachThursday post titled – How to find yourself
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