What to think, media etc.
As of this writing , BTC is trading at 4234.20 , XRP at just .39622 ; and among these developments , the media has flipped - first displaying what could be taken for honesty , now piling on stories about Dr. "Doom's" predictions , especially that central bank electronic currency will obviate blockchain , BTC , and any other form of current crypto.
What happened to the standard of the press of ages old ; unbiased, neutral coverage of the news??
Just days ago , a writer on C.C.N. advised that now was a wonderful opportunity to "buy the dip." I wrote about that article , as it had quoted a price for BTC that simply was not correct as of the writing.
Now the crypto-media has shifted it's bias against current forms of digital currency , and blockchain technology in general.
Why are more and more use cases for blockchain being found , adopted and used if it is so flawed?? From fortnite and non-fungible in game tokens to the tracking of chickens , to government's abroad adopting the technology for Medical research all the way to monitoring such things as the South Korean beef supply if it is useless?
Overstock's CEO is selling the retail company to focus on blockchain.
Bitcoin and blockchain came as a package , but they are far from inseparable.
Despite the growing adoption of blockchain tech , magazines such as Forbes claim it has found no use.
People looked at Satoshi Nakamoto's work and were blown away by the genius of it , yet a Bitcoin transaction can take from 20 minutes to an hour.
Cryptocurrencies are not all the same , just as blockchain doesn't equal Bitcoin , Bitcoin does not equal digital transaction technology.
Ripple has developed a network that can currently process 1500-2000 transactions per SECOND. Think about that. It will improve from there if it is allowed to, and while their network does not require that people use XRP as a store of value or medium of exchange , XRP is the native currency of the network.
According to google , the XRP ledger is more decentralized than Bitcoin and Ethereum , and that is the goal here is it not??
Why would people adopt centralized , bank controlled fractional reserve digital currency if privacy and freedom from government control are the goal?
Banks in the United States , if not elsewhere as well , operate using the "Fractional Reserve System." To better explain ; this is why your current cash and bank holdings are called fiat currency. This is also why they only guarantee up to 100k in the U.S. , because it is plausible that a financial crisis severe enough would mean that your bank might not have your funds in full.
Banks no longer back a note for legal tender with it's equivalent in Gold or Silver , they only back a fraction of it , hence the term Fractional Reserve. The supposed reason behind this is so they can expand the economy by freeing up capital (YOUR CAPITAL) so that it can be loaned to other parties, and while current bank interest rates are as low as 0.1% in cases, the interest on the loans issued to a small business are as high as 6% and in many cases higher. Who profits most?? The BANKS , and when they print money and become reckless with their lending so as to accrue more interest , things like the financial collapse of 2008 happen. Why??
GOVERNMENT BAILOUTS.
Who pays for that?? YOU , the taxpayer!!
We are reaching a point where I wouldn't suggest to anyone that they should believe ANYTHING reported by the press in regards to money , commerce or the economy. The term "fake news" all too often rings true these days. So who is behind that?
Big Money (ie. Banks,) GOVERNMENT - all of which NEED you to believe in your native currency , and the real Blue Bloods , the perhaps 10-20 families that really control the World. If you think the Presidency of the United States is the height of power , you are mistaken. Just do some fact finding.
The REAL people in power are the ones who control the money , and they aren't the puppets operating whatever reserve applies . Those are elected and appointed figureheads , as the people who control wealth very rarely reveal themselves.
THIS IS WHY DECENTRALIZED CURRENCY MEANS SOMETHING!
It is controlled by a consensus of the people who own and barter it , and those people are LETTING THEMSELVES DOWN!
If you want to live in a world where every moment you spend is known to Government entities than by all means , abandon cryptocurrency in it's dark hours. With the digital age has come new forms of coercion and control , and all that requires is the quiet herd mentality of the people it governs. Power will become more and more consolidated as the rich get richer and the middle class evaporates.
We are being made fools of , and we are allowing it to happen.
Why?
Don't believe everything that you read. With the likes of Dr. Nouriel on one end and Mike Novogratz on the other it is important to remember that the loudest voice in the room is most often the weakest in the room. Who wouldn't be confused?? So Craig Wright and company push a button and now crypto is done? Think about who is being allowed to do that.
I'm not a financial advisor and I am not pushing anything other than the freedom that Decentralization implies. Decentralization doesn't need to be mined , it needs to be demanded , practiced and achieved. Nurtured. Protected. Demanded.
I also suggest reading "The Shock Doctrine," a wonderfully enlightening book by the very astute Ms. Naomi Klein.
In the meantime try to stop damaging yourselves and the future by devaluing freedom and privacy.
Caveat Emptor , and that applies also to the information you "buy" into.
What happened to the standard of the press of ages old ; unbiased, neutral coverage of the news??
Just days ago , a writer on C.C.N. advised that now was a wonderful opportunity to "buy the dip." I wrote about that article , as it had quoted a price for BTC that simply was not correct as of the writing.
Now the crypto-media has shifted it's bias against current forms of digital currency , and blockchain technology in general.
Why are more and more use cases for blockchain being found , adopted and used if it is so flawed?? From fortnite and non-fungible in game tokens to the tracking of chickens , to government's abroad adopting the technology for Medical research all the way to monitoring such things as the South Korean beef supply if it is useless?
Overstock's CEO is selling the retail company to focus on blockchain.
Bitcoin and blockchain came as a package , but they are far from inseparable.
Despite the growing adoption of blockchain tech , magazines such as Forbes claim it has found no use.
People looked at Satoshi Nakamoto's work and were blown away by the genius of it , yet a Bitcoin transaction can take from 20 minutes to an hour.
Cryptocurrencies are not all the same , just as blockchain doesn't equal Bitcoin , Bitcoin does not equal digital transaction technology.
Ripple has developed a network that can currently process 1500-2000 transactions per SECOND. Think about that. It will improve from there if it is allowed to, and while their network does not require that people use XRP as a store of value or medium of exchange , XRP is the native currency of the network.
According to google , the XRP ledger is more decentralized than Bitcoin and Ethereum , and that is the goal here is it not??
Why would people adopt centralized , bank controlled fractional reserve digital currency if privacy and freedom from government control are the goal?
Banks in the United States , if not elsewhere as well , operate using the "Fractional Reserve System." To better explain ; this is why your current cash and bank holdings are called fiat currency. This is also why they only guarantee up to 100k in the U.S. , because it is plausible that a financial crisis severe enough would mean that your bank might not have your funds in full.
Banks no longer back a note for legal tender with it's equivalent in Gold or Silver , they only back a fraction of it , hence the term Fractional Reserve. The supposed reason behind this is so they can expand the economy by freeing up capital (YOUR CAPITAL) so that it can be loaned to other parties, and while current bank interest rates are as low as 0.1% in cases, the interest on the loans issued to a small business are as high as 6% and in many cases higher. Who profits most?? The BANKS , and when they print money and become reckless with their lending so as to accrue more interest , things like the financial collapse of 2008 happen. Why??
GOVERNMENT BAILOUTS.
Who pays for that?? YOU , the taxpayer!!
We are reaching a point where I wouldn't suggest to anyone that they should believe ANYTHING reported by the press in regards to money , commerce or the economy. The term "fake news" all too often rings true these days. So who is behind that?
Big Money (ie. Banks,) GOVERNMENT - all of which NEED you to believe in your native currency , and the real Blue Bloods , the perhaps 10-20 families that really control the World. If you think the Presidency of the United States is the height of power , you are mistaken. Just do some fact finding.
The REAL people in power are the ones who control the money , and they aren't the puppets operating whatever reserve applies . Those are elected and appointed figureheads , as the people who control wealth very rarely reveal themselves.
THIS IS WHY DECENTRALIZED CURRENCY MEANS SOMETHING!
It is controlled by a consensus of the people who own and barter it , and those people are LETTING THEMSELVES DOWN!
If you want to live in a world where every moment you spend is known to Government entities than by all means , abandon cryptocurrency in it's dark hours. With the digital age has come new forms of coercion and control , and all that requires is the quiet herd mentality of the people it governs. Power will become more and more consolidated as the rich get richer and the middle class evaporates.
We are being made fools of , and we are allowing it to happen.
Why?
Don't believe everything that you read. With the likes of Dr. Nouriel on one end and Mike Novogratz on the other it is important to remember that the loudest voice in the room is most often the weakest in the room. Who wouldn't be confused?? So Craig Wright and company push a button and now crypto is done? Think about who is being allowed to do that.
I'm not a financial advisor and I am not pushing anything other than the freedom that Decentralization implies. Decentralization doesn't need to be mined , it needs to be demanded , practiced and achieved. Nurtured. Protected. Demanded.
I also suggest reading "The Shock Doctrine," a wonderfully enlightening book by the very astute Ms. Naomi Klein.
In the meantime try to stop damaging yourselves and the future by devaluing freedom and privacy.
Caveat Emptor , and that applies also to the information you "buy" into.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.