RE: Big changes on the way. Are you ready?
Our investment in cryptos will only help us through the transition between being dependent upon the system and learning how to live off ALL the grids.
One thing that many in the crypto space say is that bitcoin can't be destroyed by governments. That is true. But what practically nobody is saying is that they don't have to. Governments can simply seize the means of production. Amazon is already well on its way to doing this.
If a single corporate conglomerate comes into alliance in the next few years over the Libra project, they could make unsanctioned crypto's useless for buying most anything of value in the tangible world (that sounds eerily like book of Revelations). Bitcoin and the rest of the unsanctioned cryptos would be relegated to the black market if their value doesn't plummet.
I've also had people try to convince me of bitcoin's infallibility by suggesting that even if the Internet went down, tokens can still be printed out on pieces of paper or have remote processing facilities to complete transactions. If I was a tyrannical government, I would attack these crypto's where they are the weakest and most vulnerable: electricity and the physical infrastructure.
When I researched Libra and found out that the corporate empires are gathering together to back this project, red flags went up all over the place. Your point is a good one as most people are still dependent upon the corporate empires to provide the goods and services they need or want. Hence the strategy of providing for ourselves, rather than being dependent upon them.
I agree with you @zoidsoft. The majority of the cryptos could indeed be relegated to the black market. If people are wise, they would be watching the Libra project with a microscope! It could have a huge impact on how this whole market place unfolds over the next few years.
I for one can feel that Libra is big. It the real deal altcoin payment killer.
I half tempted to invest in it. Does FB stock count as investing in Libra?
I doubt it. All 100 corporations are going to have a say. They'll probably create a separate stock or it or maybe they'll just make another coin that isn't pegged to fiat. Seems the most likely.