Tuesday, August 13, 2019

WHY SHOULD I GET INTO BLOCKCHAIN PART 1


Most people will say I don’t understand it or it’s not real.  I say hogwash. Everyday people get on airplanes yet don’t understand how the planes flies.  How many people know aerodynamics? Yet you believe and trust with no guarantees you will arrive unscathed.  Everyday you go to work and on payday you receive an electronic deposit and you believe that it will spend. On the flip side you have a worthless piece of paper or a piece of plastic that people accept as payment.  Twenty years ago nobody used the Internet.  People just used it for texting and email, now just about everything you do now is by the Internet.   
     The old guard would have you to believe that crypto currencies are fake, are frauds and worthless.  If it's a fraud why has the largest bank in the world JP Morgan Chase introduced their own crypto currency? Why is Bank of America using Ripple? Why is Moneygram using Ripple and making new record profits? Today 30 billion in transactions are done using Bitcoin by legitimate companies and more and more companies are adopting this technology everyday.  If it wasn’t for innovation we’ed still be on horse and buggies which at one time people scoffed at buggies, then later they scuffed at Henry Ford's Model T automobile.
     There are three types of money.  FIAT money which is nonconvertible paper money without any intrinsic value that has been established by the government as legal tender. A fiat currency example are the paper dollars in your pocket ie… the US Dollar, Euros, Yens or any other government paper money system.  With paper money the Federal Reserve Bank has a electronic printing press that they just create money out of thin air. Sounds like Bitcoin doesn't it? Both assets are based upon faith. Everyday our government just creates money in paper format and digital format. Now days you receive your money in a digital format or electronic transaction, then you spend it electronically and the person or company accepts it as a valid transaction. But if you and I create money like our government we are tossed under the jail without the light of day. But what the government can't control is bartering which has been going on since the beginning of time long before governments were established. What the government doesn't like is who determines value between two parties, therefore the government can't tax the transaction. With the government it's all about control and it's gonna get worse.
Precious Metals like Gold and Silver is a form of commodity money, just like salt was in ancient times or cattle. These forms of money have been used as a store of value and monetary exchange just like dollars. Precious metals have never gone to zero. Our dollars used to backed by either gold or silver until President Nixon took the USA off of the gold standard in 1974.  These forms of currencies have been around since the birth of civilization. The only bad thing gold and silver is bulky and hard to hide,which means it can be confiscated on whim by government like when president FDR used executive order 6102 in 1933 where he ordered everybody to turn in their gold. Guess what people hoarded their gold to buck ths order. Why then did he do it? Because he was a puppet of the banking cartel.  Funny how the banking cartel were the ones who caused the Great Depression yet we turned to the same foxes who destroyed the hen house to fix the broken system they caused. So who benefits in this arrangement? Then FDR and the banking cartel established the Federal Reserve system, which is a system of private banks who create and lend money to our government and to other large banks in a good ole boy system.  Next up Blockchain and crypto currencies which will level the playing field for the common people. Thus the government is shaking in their boots.

  


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