Rusty Messages: 1205 Registered: May 2018 Location: Kansas City Missouri
Illuminati (3rd Degree)
Beware the speculative investor. And a government throwing it all in for that kind of monetary format. But on the other hand. This bitcoin phenomena may owe it's popularity to the sins of debt created by the IMF and World Bank in poor countries like El Salvador. And the natural tendency for humans to seek dominance through wealth. Capitalism and worshiping the unregulated free market is seen by some economists and philosophers, Marx for instance as enabling just that. Some say it's resembling more the feudalism it replaced. Will crypto be any different? I wonder if it's portraying itself as some free lunch. Where's that in the cosmos? That's all some investor types consider.
I remember the saying, capitalism is the worst economic system except for all the others. Really? As if it were the apex of what human civilization can offer. Nothing is perfect, but many things can be made better, more fair and cooperative for most of us. And this ball we live on. Crypto is an experiment I have great reservations of. Capitalism, disdain it's become. Somethings going to give eventually.
I was just inquiring about this today. I know nothing about crypto currency or bitcoins. I just asked a coworker if I should look to invest. Thanks for explaining it in simple terms.
I don't mind innovations like cryptocurrency if it means contributing to the planet. This information you shared about El Salvador is convincing that it made me think digital currency can thrive without harming the environment. There's also the convenience when making transactions, and it could be a way to give musicians the worth they deserve.
Rusty Messages: 1205 Registered: May 2018 Location: Kansas City Missouri
Illuminati (3rd Degree)
All it contributes to is the few. And El Salvador is the exception for clean energy contributing to it's marketing from that government. If you want equity for the masses and the musicians within an economic system. You have to have a fair and equitable economic doctrine to abide by. Which ain't the one we have now.
Rusty Messages: 1205 Registered: May 2018 Location: Kansas City Missouri
Illuminati (3rd Degree)
A follow up to the crypto scheme which isn't doing so swell these days. Especially El Salvador, who went all in on it. Like a mobster, the big financier come with a smile on their face when they whack you.
Bitcoin is extremely energy-intensive, but it is an innovative application with innovative distributed ledger technology that large corporations and many government agencies actively use. And this is another point why Bitcoin has a unique future and may well claim to be a well-established innovation worldwide. I prefer to invest in bitcoin in the current situation using the forex trading app, and I think it is now the most profitable investment of all possible.
Wayne Parham Messages: 18793 Registered: January 2001
Illuminati (33rd Degree)
Seems to me, all currencies are based on trust. They're an intermediate between two things of actual value. So trust in the currency is its only real value. It's literally an IOU passed between people.
Maybe we should just all go back to gold and silver. We can buy music (and anything else) with that. Nearly everyone agrees on the values of gold and silver.
Rusty Messages: 1205 Registered: May 2018 Location: Kansas City Missouri
Illuminati (3rd Degree)
Our banking is barely regulated enough as is with the amount of malfeasance created by it's lack there of to play in the stock market. Crypto isn't regulated at all. It's just begging for the classic Ponzi scheme. Not to mention the grotesque amount of energy needed to supply it's algorithms to do nothing more than add another avenue of speculation of unearned income for the fat cat investors.
I think that stuff seems toxic.
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