USD Scam Coin Surpasses $20 Trillion in Debt, but You're Supposed to Fear Cryptocurrency
War is peace.
Freedom is slavery.
Ignorance is strength.
George Orwell, 1984
The governments and central bankers of the world want to convince you this is something dangerous you need to stay away from:
The mainstream media has foretold bitcoin's "death" 160 times (visit https://99bitcoins.com/bitcoinobituaries/ to see some hilariously ignorant examples):
If USD was a cryptocurrency coin, it would be the most obvious SCAM Coin around as @ashe-oro articulated so well last week:
My biggest concern with fractional reserve fiat debt-based currency is how it is used to fund wars that would otherwise be impossible. Some argue it also funds other good things we want as well such as roads, bridges, and infrastructure systems. Fair enough, but even children are taught just because you want something doesn't mean you can take it from someone else. The collateral holding up this $20 trillion dollars is the incredibly lucrative process of human farming. The economic output of the tax slaves give nation states the credit ratings they need to continue creating money out of nothing.
If you're confused on how this works, then you don't know the Story of Your Enslavement:
Cryptocurrency is in direct contrast to this system because it's based on voluntarily agreed upon protocols, not threats of violent force. It thrives in an environment of competition where evolution is required for survival. Everyone who owns a share in the cryptocurrency space has a voice as to how their coin of choice should function and many projects are open source and open to valuable input and change. Those that aren't may see their marketshare diminish, as we saw this year as bitcoin dominance dropped below 50% of the total market cap.
Yes, cryptocurrency is a bit confusing for those just learning about it. I'm trying to help there with my UnderstandingBlockchainFreedom.com videos. My suggestion is to start with Steemit. Earn just a little cryptocurrency and then transfer it around to an exchange to buy some BTC or something else. Maybe trade your BTC for an Amazon Gift Card via https://www.gyft.com/
Use it to understand it.
When we understand how messed up the fiat currency world is, the obvious question becomes Why Are You Waiting to Buy Cryptocurrency?
In early 2013 of my cryptocurrency journey, I watched some fun cartoon videos you might enjoy. Some of the quotes are incorrectly attributed and some of the concepts are overly simplified, but I still found them quite helpful for understanding that money today really is debt.
Money as Debt 1 (0:46 hours)
Money as Debt 2 (1:17 hours)
Money as Debt 3 (2:19 hours)
Another interesting way to understand how we got here is to understand the formation of the Federal Reserve via a secret meeting at Jekyll Island. G. Edward Griffin has some pretty crazy ideas on other topics, but I think he gets this stuff mostly right:
The Creature from Jekyll Island (1:47 hours)
Please, get informed. Understand how money works and what it is. Since the beginning, money has served us as a ledger and cryptographic blockchain currencies are the best ledger inventions ever created. Yes, there are very real privacy and control concerns which is why some truly anonymous cryptocurrency projects are so important which relates to a larger discussion on Privacy, Identity, and Human Flourishing.
I hope you find this content useful, and it begins your own journey towards economic freedom.
Peace is prosperity.
Voluntary living is Freedom.
Strength is knowledge.
Some tools for your journey:
- The Cryptocurrency Bank Spreadsheet
- The Blockchain, Globalism, and National Demonetization
- Playing in the Margins: bitUSD and BitShares on Open Ledger
- A Simple Example of Shorting the U.S. Dollar With BitShares
- The Promise of the Blockchain by Vinay Gupta
- The Best Explanation of a Blockchain I've Ever Seen
WOW. Fantastic post. And you are absolutely correct. One of the biggest hurdles is getting more people to use the currencies. But we are seeing more and more "normies" come over to crypto. I think that Steemit is a wonderful example of how you do not have to be very tech inclined to start earning some crypto.
There are initiatives such as yours, that attempt to give people the info in an easy to understand fashion. Bitcoin and other cryptos will only get more popular as time progresses. Many people understand the flaws in thh fiat currency system, but also do not know that there is a way to distance yourself as much as possible from it . . . by staying in crypto as much as possible.
One thing I may add to the great description of the USD alt-coin . . I heard that the pre-mine is out of this world.
The problem with cryptocurrency development is that so many people still don't understand what it even is.Some are sceptical and super conservative, it will take some time before people will realize that this is a "chain breaker".Hopefully, the word will spread in every corner of the world.Thank you for explaining things,it's very helpful for those who are new here;)
I agree, which is why I've been trying to help people understand with my @ubf project.
You write in a very nice easy to understand way.Thank you🙂
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Indeed, we need to explain people what crypto is and why it is a gamechanger...
I completly agree... By the way, you have a very nice and cool name;-)
Yeah,it's like the coolest name there is😁😁😁
I'm from Croatia and here Damir is quite comon name, as myself, but Damira is very very rare. Nice to hear that somwhere else it is a ladies name thats used obviously quite more than here in Croatia...
I'm from Kazakhstan and we have as many Damirs as Damiras there,actually I'm not sure now what's the origin of this name?!;)
I just went to explore the name :)) Here it is what Wikipedia says: https://en.m.wikipedia.org/wiki/Damir
Have a nice day, Cheers, Damir
What can I say, we are made of steel who are giving peace to other people😁😁😁Thank you!
The problem we have today is a very small group have taken advantage of a western civilization worship of Adam Smith, the so called "Father" of economics. Adam in single handed manner turned our understanding of what money is upside down. There is however hope in groups such as the likes of you @lukestokes and many others. A very interesting group making efforts in monetary reform is the American Monetary Institute.
www.monetary.org
If you are in the Chicago area, they are having their yearly symposium this month from the 14th-17th.
For an interesting read by one of the presenters at this years' AMI conference is professor Yamaguchi. See one of his working papers here:
http://www.muratopia.org/Yamaguchi/doc/P2P-PM-System.pdf
Good luck to all of the reformers here and around the world!
I remember hearing about Stephen Zarlenga and his book 'The Lost Science of Money' on a Gnostic Media podcast many years ago. His concept behind debt-free fiat currency is appealing, however I am more enthusiastic about non-state solutions with cryptocurrencies.
But a debt-free dollar would be a great start for the state, regardless.
It's funny, my dad sent me an article about how Bitcoin was a massive bubble, and it reminded me that the most massive bubble in the world is the dollar itself.
Interesting times.
Your commentary on fiat currencies is directly on the mark. If this concept were to be instituted from scratch, the purveyors of which would be laughed out of the room.
Cryptocurrencies will continue to suffer from misinformation, both un- and intentionally, and will take longer than we'd like to become mainstream. The good news is that it IS happening.
One of the threats to Bitcoin and other solid cryptocurrencies, however, derives from the cryptocurrency world, itself. The advent of ever flimsy and extraneous currencies, and the news of their resultant fraud and misuse, could disrupt the advent and adoption of established ones. Guilt through association, if you will.
This is perhaps the largest threat to the cryptocurrency revolution, and I'm not exactly sure what can be done to avoid or mitigate it.
Great point. One thing which can help is for all of us to reign in our own greed and stop chasing every random ICO we come across. Or, if we do invest in something stupid, own it. Don't expect someone else to come along and bail us out. Be public about our mistakes and our successes.
The ICO are very interesting. They also are potentially a huge platform from fraud. Steemit is the perfect platform for distributing information on the ICO's. It will allow a permanent record. Note: Stock fraud has gone on for a long time and continues to go on. I would love to see a whitelist and a blacklist of ICO's.
You're right... this entire perspective can be confusing to people born into the pervading system. That's one reason I'm writing a fantasy novel set in medieval Ireland, to illustrate the problem you mention here: "My biggest concern with fractional reserve fiat debt-based currency is how it is used to fund wars that would otherwise be impossible." In the story, one of the three Gaelic deities/faeries known as "war starters" (this is actually a Gaelic thing) will start a war by funding it much like a central bank would. The idea being, debt funding is "magic"... it belongs in the realm of faeries and goblins. Title: To Coin a War. (Celts were famous for poetry and coining a phrase.) Anyway, your entire post was well stated!
That sounds really interesting! Please ping me when you make it available.
Thanks. I'm serializing it here on Steemit, so the first four parts are available here. And the Steemhouse Fiction Trail ( @sft ) has expressed interest in creating a publishing imprint for authors here and publishing To Coin a War when it's finished.
If a cryptocurrency was created to fund government we would have no need for debt or taxes.
money controlled by government makes them go crazy with power.
Cryptocurrencies can solve that problem
By creating a currency that only government can trade but the government cannot produce it.
the coins are divided up among citizens equally and the government creates a fund me page for each and every part of government.
The people can then choose which parts of government they want to fund with coins.
The coins are created specifically to fund government its not created out of the wealth of the people.
It is not a tax.
I love this idea. I've often thought if we truly want to get rid of the power of government, we should take their entire budget and go through it line by line. Then open it up via a shared spreadsheet and let the 300 million people in this country add private alternatives to the ones being done currently through monopolies backed by violent force. We'd see efficiencies increase overnight. I like the idea of a token specifically used as a way to vote for services we want. The military spending would, hopefully, go out the window so we could focus more on building instead of destroying.
Awesome article and I agree a hundred percent. Politicians are not the ones in power, the bankers are, the more war the more money printed, the more happy the bankers are. Whenever the economy has stagnated war has been the solution and considering the current economic situation these times are scary. A debt based currency is definitely what we should fear as it enslaves us and many people have started borrowing to afford to pay of their debts and usually these lenders have higher interest rates so it's a slippery slope. Finally thanks to cryptocurrency the people are holding the right end of the stick and I am hopeful for the future ! Great post 👍
Hi @dandesign86! You have just received 0.15 SBD tip from @cardboard!
@tipU - send tips by writing tip! in the comment, get share of the profit :)I almost included the documentary All Wars are Banker's Wars. Whenever I start talking about this stuff I want to mention democide and Smedley Butler's War Is a Racket as well. One thing at a time, I guess. Great comment, thank you. :)
It is quite scary the truth about who really turns the wheels of society. I actually haven't seen this documentary yet, but I definitely will do that this upcoming weekend. I have seen Zeitgheist some years ago and it definitely had an impact on me.
It feels like, with Steemit, Cryptocurrency and the blockchain, we are holding the Bankers Cryptonite. Change is coming and I have a feeling it's good !
This. Tip!
Thank you very much !
This^
I am not sure that politicians create wars to fix banking problems. While at times it can help. People have been fighting for a long time, for a lot of other reasons. The American Indians fought wars before central banks were around. Wars typically make everyone poorer. Yes, it helps if you can loot gold, crops, cattle or women from a neighboring village, but war is less than a zero sum game. That said. It is also interesting to look at the history of Wars. We go to war about every 20 years. I think that is more of one of mankind's inherent weaknesses.
Have you read Steven Pinker's Better Angeles of Our Nature? Violent death per 100,000 people has gone down significantly in the last 100 years even including WWI and WWII. As we move up Maslow's hierarchy of needs, we understand the value for cooperation of competition. Those who do want to fight wars (usually the sociopaths who get voted into office) must align with banks to get the funding they need. It's a sick symbiotic relationship of greed and destruction.
The concept of government-backed, inflationary fiat money is so cemented in the psyche of the ordinary citizen, that any challenge to the idea is somehow perceived as a personal attack.
This phenomenon is much more prevalent in the older generations. I find it crazy how my parents always look for some authority to tell them what is legit and what isn't.
Most of the older generations are brainwashed beyond belief. The light at the end of the tunnel is that the millennials are much sharper, observant and ready to act on their disgust of central banking and the fake money system they were born into.
So true. I have had conversations in years' past with a close relative regarding central banking. His attitude was "Well, central banking was just a natural progression that evolved over time organically". What a bunch of garbage!
That's exactly how the banksters have been able to get away with their fiat money racket for so long: the dumbing down of the population. An ignorant, intellectually lazy electorate is exactly what the banker overlords desire.
The newer generations have wised up considerably.
I think the Internet has played an important role. It removed the gatekeepers of information. It also gave all the tin-foil-hate wearing crazies a platform to spread their craziness, but at least those who work at improving their epistemology can find the information out there for what's really going on.
What's funny to me is to think about how our kids will describe us.
Heheh. Who knows. :)
Let's not put all millenials into sharper and more observant category. Many are not.
I suppose that is a fair statement.
Cryptocurrency needs good marketers, people who can educate on Blockchain and help them understand. I think this article is brilliant, the George Orwell quote to open and close is awesome. I would like to translate your article to Spanish and put on my blog, giving you credit of course, if you don't mind ^^
Go for it! Thank you. If you wouldn't mind, please include a request to upvote the original if your readers enjoyed it.
Deal ;)
There you go, hope you like it in Spanish haha ;) https://steemit.com/spanish/@arturomdg/la-estafa-del-dolar-supera-los-20-trillones-en-deuda
Cool. :)
If you could add a short note about voting up the original, that would be much appreciated. Thanks!
Done! I would appreciate also an upvote. Thanks ^^
Any concerns that majority of BTC mining is occurring in China, and at the appropriate moment, the Chinese military could decide they want to run all the Chinese miners, as one group, that controls more than 50% of hash rate?
Seems like a non-zero probability of being the end of BTC
No real concerns because, as we've already seen this year, if BTC doesn't provide value in a competing currency market, others will rise up to do so.
Maybe the cryptocurrency world will shift to STEEM and SBD where they can do 10's of thousands of transactions a second with 3 second block times and zero transaction fees. I wouldn't mind that one bit. :)
Upvoted myself to see if I could get Luke's attention and a comment in response
Take a look at my comment history. You don't need to upvote yourself for my attention. I'm quite active with over 8,000 posts and comments.