Hircine
Active member
- Joined
- Apr 8, 2023
- Messages
- 101
1964 was the last year the U.S. relied on an asset backed the U.S. dollar. We look back and think about a coffee costing a nickle or a gallon of gas costing 10 cents. Times did seem good back then. But as our nation grows, so does the needs to supply each individual with resources to sustain life, liberty, and the pursuit of happiness.
With such growing demands it becomes obvious the gold standard became harder to keep. And for many reasons, the gold standard was eliminated. This allows growth but at what cost? The cost of having a finite resource supporting the dollar. Which lends opportunities and catastrophic pitfalls.
As mentioned before, a great opportunity of an inflationary currency allows the growth of a nation to expand faster and larger than it's predecessor gold standard. But there comes many problems with it. For one is having a system that is controlled and regulated on the federal level. Let me explain this implication. When the U.S. was backed by gold there was only so much that could be tapped into an adulterated. Turn to a system that isn't backed by a finite resource and the government can print as much money as they want, whenever they want and before you know they're going to do it.
It's a basic economic fundamental to understand that the more of something there is, the less it's worth this is the essence of inflation. It's important to understand that the reason cost goes up is because not because people are necissarily getting paid more but that the strength of the dollar weakens so it takes more purchasing power aka dollars to attain goods and services.
So what am I getting on about? The fact that we don't like the government getting their grubby hands into our business and manipulating the hard earned money we work for that inherently gets taxed more and worth less as the years go on. Think about this, putting your money into a savings account actually weakens your financial power because it doesn't even return the annual inflation put onto the same money.
Naturally people look to the stock market in hopes their money will at least beat inflation. Put it into a retirement plan and you're on your way to making sound decisions, but there's a caveat. There is no garuntee in the event of an economic collapse that you will be able to withdraw your money. Why? The governments interest to control funds and corporations.
As we move to an ever increasing digital economy and world we become more reliant than ever on big brother government. The same government that issues and manipulates and controls your money and then taxes everything you do with it.
This is where the controversial topic and the heart of this post comes into play, cryptocurrencies. I understand many people here don't actually understand (or even care to understand) what cryptocurrencies are. In a nutshell they are basically like stocks in a stockmarket. They all do different things thus they naturally serve different purposes. For instance, the "godfather" of cryptocurrencies is the Bitcoin and is revered as digital gold. Bitcoin is a finite resource of a max 21 million coins that can ever be produced or (mined). Ethereum on the otherhand is a semi-inflationary utility workhorse that is suitable for everyday commerce. It even can do more transactions per second than visa can manage! Think of etheruem as being it's own internet. Through every transaction a small amount of ethereum gets used up (burned) and if the burning outpaces the mining then you have a deflationary asset, if the opposite happens then it's inflationary but this hasn't happened since an upgrade which is called a (fork). It's called a fork because it's technically an improved version of itself. But how does it improve? Well my fellow reader, it improves by a vote by the people who hold the asset! The people control the future of the asset. Imagine being able to do that with fiat. The angst you have with the value of your ever weakening fiat and the overwhelming control the government has over it gets put into your hands and it really is a beautiful thing!
There are thousands of cryptocurrencies being made all the time, most of them are scams or memecoins aka shitcoins. But there are a few with real world applications and potential.
Here's a fact, the most valuable currency in the world is bitcoin. And imagine using a currency like that without having to convert it to a foreign currency because it's already recognized globally minus a few countries that tend to be communist anyways.
In summary I'm flabbergasted by the people who put their faith into the same system that oppressed their financial freedoms year after year and then bash cryptocurrencies as some fluke and is dying off. Yes there's hiccups along the way, the idea of cryptocurrencies came to fruition only in 2009 there is a long road ahead but it's a very bright one too.
If you don't like your dollar weakening by the day and are fed up with government spending then I seriously urge you to understand the value and benefits of cryptocurrencies like bitcoin and ethereum.
With such growing demands it becomes obvious the gold standard became harder to keep. And for many reasons, the gold standard was eliminated. This allows growth but at what cost? The cost of having a finite resource supporting the dollar. Which lends opportunities and catastrophic pitfalls.
As mentioned before, a great opportunity of an inflationary currency allows the growth of a nation to expand faster and larger than it's predecessor gold standard. But there comes many problems with it. For one is having a system that is controlled and regulated on the federal level. Let me explain this implication. When the U.S. was backed by gold there was only so much that could be tapped into an adulterated. Turn to a system that isn't backed by a finite resource and the government can print as much money as they want, whenever they want and before you know they're going to do it.
It's a basic economic fundamental to understand that the more of something there is, the less it's worth this is the essence of inflation. It's important to understand that the reason cost goes up is because not because people are necissarily getting paid more but that the strength of the dollar weakens so it takes more purchasing power aka dollars to attain goods and services.
So what am I getting on about? The fact that we don't like the government getting their grubby hands into our business and manipulating the hard earned money we work for that inherently gets taxed more and worth less as the years go on. Think about this, putting your money into a savings account actually weakens your financial power because it doesn't even return the annual inflation put onto the same money.
Naturally people look to the stock market in hopes their money will at least beat inflation. Put it into a retirement plan and you're on your way to making sound decisions, but there's a caveat. There is no garuntee in the event of an economic collapse that you will be able to withdraw your money. Why? The governments interest to control funds and corporations.
As we move to an ever increasing digital economy and world we become more reliant than ever on big brother government. The same government that issues and manipulates and controls your money and then taxes everything you do with it.
This is where the controversial topic and the heart of this post comes into play, cryptocurrencies. I understand many people here don't actually understand (or even care to understand) what cryptocurrencies are. In a nutshell they are basically like stocks in a stockmarket. They all do different things thus they naturally serve different purposes. For instance, the "godfather" of cryptocurrencies is the Bitcoin and is revered as digital gold. Bitcoin is a finite resource of a max 21 million coins that can ever be produced or (mined). Ethereum on the otherhand is a semi-inflationary utility workhorse that is suitable for everyday commerce. It even can do more transactions per second than visa can manage! Think of etheruem as being it's own internet. Through every transaction a small amount of ethereum gets used up (burned) and if the burning outpaces the mining then you have a deflationary asset, if the opposite happens then it's inflationary but this hasn't happened since an upgrade which is called a (fork). It's called a fork because it's technically an improved version of itself. But how does it improve? Well my fellow reader, it improves by a vote by the people who hold the asset! The people control the future of the asset. Imagine being able to do that with fiat. The angst you have with the value of your ever weakening fiat and the overwhelming control the government has over it gets put into your hands and it really is a beautiful thing!
There are thousands of cryptocurrencies being made all the time, most of them are scams or memecoins aka shitcoins. But there are a few with real world applications and potential.
Here's a fact, the most valuable currency in the world is bitcoin. And imagine using a currency like that without having to convert it to a foreign currency because it's already recognized globally minus a few countries that tend to be communist anyways.
In summary I'm flabbergasted by the people who put their faith into the same system that oppressed their financial freedoms year after year and then bash cryptocurrencies as some fluke and is dying off. Yes there's hiccups along the way, the idea of cryptocurrencies came to fruition only in 2009 there is a long road ahead but it's a very bright one too.
If you don't like your dollar weakening by the day and are fed up with government spending then I seriously urge you to understand the value and benefits of cryptocurrencies like bitcoin and ethereum.
