It might be better than fiat, but that isn't saying much.
I'm sure the whoring Babylonian system will have multiple ways of misusing it to further enrich the oligarchs and further screw over the common man.
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It might be better than fiat, but that isn't saying much.
I'm sure the whoring Babylonian system will have multiple ways of misusing it to further enrich the oligarchs and further screw over the common man.
At this point, no indication exists that this will be accomplished. Part of what insures Bitcoin and Ethereum from being appropriated by the ruling class and their central bank treasurers is that a whole panoply of other crypto currencies are either in existence or in the process of being brought to fruition, all of which will have tentacles that will enslave individuals through the central-band/central-government nexus via your smartphone, which will be the only venue through which one can access one's funds.It might be better than fiat, but that isn't saying much.
I'm sure the whoring Babylonian system will have multiple ways of misusing it to further enrich the oligarchs and further screw over the common man.
Of course, I wouldn't put it past some evil psychopath to figure out a way to gain 51% control of Bitcoin and then very purposefully destroy it as a totally-encrypted funds-exchange medium, but keep in mind that that worst-case scenario will only result in putting one back at par with every other form of money other than metals and inevitably-totally-criminalized private barter.
I would much rather at least have the potential option to conduct business outside of the control and watchful eye of central authorities if a SHTF event takes place.
In an SHTF situation, I wonder if cryptocurrency will be an option. I'm not totally opposed to it, but prefer PM's, mainly silver, and barter. I should probably get a little crypto just for diversification.
The biggest problem I see with cryptocurrency is it’s electronic, no internet or power = no dealing
When you need to buy food you will need a currency that is acceptable to trade to get the deal done.
It's already the case that some useful items are much more readily available if one has crypto to exchange for them. This is certainly the case with beneficial psychoactive herbal medicines, but it's ramping up with firearms and will only increasingly become the case with them and ammunition.
Don't just buy any crypto, though. Most will be appropriated and taxed -- and perhaps even confiscated -- by the central-bank/central-governments consortiums if they get just a little bit further along the roads they're traversing. Buy Bitcoin (BTC and BCH) or maybe Ethereum. Most of the rest seriously risk becoming effectively worthless.
The main risk to Bitcoin is a system-wide failure of the internet, but the ruling class, according to Catherine Austin Fitts and others, has already seriously considered bringing down the internet and ultimately rejected the notion. If it goes down for good, an entirely different system would have to be set up to recreate the ability to trade it, but if it does go down, it will be worthless until such a system is deployed. Which could be never. However, what the ruling class learned was that it's entirely unfeasible for them to shut down the internet, because now far too much of what they depend on it dependent itself on the digital world. They won't mind if the world left over for the rest of us sucks big-time, but they don't want to personally have to return to the Stone Age.
These are times in which it's essential to do at least a moderate level of prepping, but some of that prepping isn't just gathering essentials, buying land and learning how to live on a subsistence basis -- it's also imperative to think enough outside of the box to prepare to be the kind of person who can not only navigate a significantly-altered world but who can become someone in a category that the ruling class doesn't consider entirely expendable. One avenue for this is to become an undamaged (and thus avoidant of the Poison Death Shot) survivor who is otherwise compliant, obedient and content with being a dependent underling. But the ruling class depends on a whole range of competencies in which they themselves don't want to have to engage. Plumbers, electricians, construction workers, firemen, policemen, etc. come to mind. But it won't be limited to just that if they get their way. Certain other types of constitutional toughness will be highly valued by our betters after they've managed to decrease the population by, say, 90%.
Being a survivor is a complex endeavor during complex times.
Well reasoned response as usual Keith
You've clearly given a good deal of thought to the issue.
The problem with crypto is that it doesn’t exist. In a high flying wealthy economy there is room for such fanciful things, but I seriously wonder who will want it when everyone is grubbing around in the dirt desperately trying to get it to grow food. I guess we’ll find out.
The it-doesn't-exist is a lesson we should have already learned, because the same thing is true of paper money. The paper exists, but the value we depend on it having behind it is entirely illusory -- and the Fed is hellbent on discontinuing the use of coins and paper money in favor of central bank-controlled digital currencies, which will not only be no more 'existent' (if what happens digitally can be written off that easily) than Bitcoin but will have as their very significant additional downside the fact that the central banks and central bank will have unchallengeable power over whatever funds you have in them.
GoFundMe just proved Bitcoin’s use case
BY MARK E. JEFTOVIC
February 5, 2022
In case you were wondering what life under a CBDC will look like
By now, everybody is probably aware of the Canadian #FreedomConvoy and how GoFundMe, at the behest of the Mayor of Ottawa and Justin Trudeau, summarily closed their fundraiser, which had exceeded $10 million. They also announced that they would literally redistribute funds to other “approved charities”. Those approved charities would presumably be those mentioned by name by the likes of Trudeau (like the avowedly Marxist BLM, who have fundraising issues of their own owing to lack of financial transparency).
This kind of incident is a microcosm of exactly why the world needs Bitcoin, decentralized crypto-currencies and communications protocols.
Because we now live in a world run by collectivist technocrats. They sincerely think that what they believe should be rules and what you or I believe should be thought crimes. [remainder at: https://bombthrower.com/articles/gofundme-just-proved-bitcoins-use-case/]
Crypto Liquidity and the Lifecycle of Ponzi Schemes
Date: February 3, 2022Author: Tom Luongo25 Comments
With the Federal Reserve set to begin raising rates in a few weeks I thought it time to dive back into a discussion of crypto now that the ‘easy money’ era post-COVID is over.
I know many still don’t believe the Fed can stop QE, no less shrink its balance sheet, and because of that the refrain, “You can’t taper a Ponzi,” can be heard from every corner of financial media.
I tend to agree with that sentiment because, of course, all Ponzi schemes require new money to constantly come in to prop up the asset values of of the previous round of funding. This is the definition of a Ponzi scheme, after all.
But in a world of Ponzis built on top of Ponzis built on top of Ponzis the idea that the biggest one, on which all the others are built, can’t save itself for a time by popping all of the daughter Ponzis is a bit disingenuous, if not outright obtuse.
And it’s not because debt-based currency regimes aren’t inherently Ponzi schemes. They are. It’s because once the pile of currency is created it has the ability to move where it is treated best and away from those assets most vulnerable to liquidation.
So, the situation in the real world, as it unfolds in real time, is far more complicated than just “You can’t taper a Ponzi.” In the long run, yes, that is correct. But in the time frames where people actually make decisions on where to put their money to provide them a return, it is absolutely not true.
And this is the hardest thing I’ve tried to teach my readers and my patrons over the years. It’s one thing to accurately state what the end state of a particular system will be. In the case of the U.S. dollar reserve system, total and complete collapse is inevitable. [conclusions follow at: https://tomluongo.me/2022/02/03/crypto-liquidity-and-the-lifecycle-of-ponzi-schemes/]
Date: February 3, 2022Author: Tom Luongo25 Comments
With the Federal Reserve set to begin raising rates in a few weeks I thought it time to dive back into a discussion of crypto now that the ‘easy money’ era post-COVID is over.
I know many still don’t believe the Fed can stop QE, no less shrink its balance sheet, and because of that the refrain, “You can’t taper a Ponzi,” can be heard from every corner of financial media.
I tend to agree with that sentiment because, of course, all Ponzi schemes require new money to constantly come in to prop up the asset values of of the previous round of funding. This is the definition of a Ponzi scheme, after all.
But in a world of Ponzis built on top of Ponzis built on top of Ponzis the idea that the biggest one, on which all the others are built, can’t save itself for a time by popping all of the daughter Ponzis is a bit disingenuous, if not outright obtuse.
And it’s not because debt-based currency regimes aren’t inherently Ponzi schemes. They are. It’s because once the pile of currency is created it has the ability to move where it is treated best and away from those assets most vulnerable to liquidation.
So, the situation in the real world, as it unfolds in real time, is far more complicated than just “You can’t taper a Ponzi.” In the long run, yes, that is correct. But in the time frames where people actually make decisions on where to put their money to provide them a return, it is absolutely not true.
And this is the hardest thing I’ve tried to teach my readers and my patrons over the years. It’s one thing to accurately state what the end state of a particular system will be. In the case of the U.S. dollar reserve system, total and complete collapse is inevitable. [conclusions follow at: https://tomluongo.me/2022/02/03/crypto-liquidity-and-the-lifecycle-of-ponzi-schemes/]
I use Wise; Wise Transfers, for sending money anywhere. Much less expensive than anything else I've found. Good and reliable service.The it-doesn't-exist is a lesson we should have already learned, because the same thing is true of paper money. The paper exists, but the value we depend on it having behind it is entirely illusory -- and the Fed is hellbent on discontinuing the use of coins and paper money in favor of central bank-controlled digital currencies, which will not only be no more 'existent' (if what happens digitally can be written off that easily) than Bitcoin but will have as their very significant additional downside the fact that the central banks and central bank will have unchallengeable power over whatever funds you have in them.
GoFundMe just proved Bitcoin’s use case
BY MARK E. JEFTOVIC
February 5, 2022
In case you were wondering what life under a CBDC will look like
By now, everybody is probably aware of the Canadian #FreedomConvoy and how GoFundMe, at the behest of the Mayor of Ottawa and Justin Trudeau, summarily closed their fundraiser, which had exceeded $10 million. They also announced that they would literally redistribute funds to other “approved charities”. Those approved charities would presumably be those mentioned by name by the likes of Trudeau (like the avowedly Marxist BLM, who have fundraising issues of their own owing to lack of financial transparency).
This kind of incident is a microcosm of exactly why the world needs Bitcoin, decentralized crypto-currencies and communications protocols.
Because we now live in a world run by collectivist technocrats. They sincerely think that what they believe should be rules and what you or I believe should be thought crimes. [remainder at: https://bombthrower.com/articles/gofundme-just-proved-bitcoins-use-case/]
Visualizing Where Cryptocurrency Is Most Heavily Used
BY TYLER DURDEN
SATURDAY, FEB 05, 2022 - 07:00 PM
A report by Chainalysis shows which countries are the heaviest users of cryptocurrencies around the world, weighing transaction values by purchasing power and, as Statista's Katharina Buchholz details below, putting a special focus on non-professional and peer-to-peer use to gauge which countries have really made strides in adopting crypto use across a larger swath of their populations.
You will find more infographics at Statista
Vietnam is the undefeated winner of the ranking, scoring high on overall crypto transaction value as well as payments made by individuals. The smaller country’s incoming cryptocurrency transaction value wasn’t far below that of much larger India.
One of the reasons cryptocurrencies are proving popular in Vietnam – and other developing countries – is that they are used as an investment tool in lieu of other good options, according to the report. Trying to preserve the value of one’s savings when local currencies are faltering is another incentive to invest in crypto, putting Venezuela, Argentina and Turkey on the map of cryto adopters.
Individuals in developing countries also use crypto in peer-to-peer payments. In this segment, African countries like Nigeria and Kenya rank high. African countries have been on the forefront of adopting innovative P2P payment methods, for example mobile payments, in the process of leapfrogging options like bank transfers and those digital payment options tied to them.
Among developed countries, cryptocurrency use was most widespread in English-speaking countries – first and foremost the United States, but also the UK, Canada, South Africa and Australia. Emerging economies India, China and Brazil also registered as heavy users. In the case of Russia’s and Ukraine’s intensive use, Chainalysis ties these to widespread mistrust of institutions and possibly capital flight and tax avoidance.
BY TYLER DURDEN
SATURDAY, FEB 05, 2022 - 07:00 PM
A report by Chainalysis shows which countries are the heaviest users of cryptocurrencies around the world, weighing transaction values by purchasing power and, as Statista's Katharina Buchholz details below, putting a special focus on non-professional and peer-to-peer use to gauge which countries have really made strides in adopting crypto use across a larger swath of their populations.
You will find more infographics at Statista
Vietnam is the undefeated winner of the ranking, scoring high on overall crypto transaction value as well as payments made by individuals. The smaller country’s incoming cryptocurrency transaction value wasn’t far below that of much larger India.
One of the reasons cryptocurrencies are proving popular in Vietnam – and other developing countries – is that they are used as an investment tool in lieu of other good options, according to the report. Trying to preserve the value of one’s savings when local currencies are faltering is another incentive to invest in crypto, putting Venezuela, Argentina and Turkey on the map of cryto adopters.
Individuals in developing countries also use crypto in peer-to-peer payments. In this segment, African countries like Nigeria and Kenya rank high. African countries have been on the forefront of adopting innovative P2P payment methods, for example mobile payments, in the process of leapfrogging options like bank transfers and those digital payment options tied to them.
Among developed countries, cryptocurrency use was most widespread in English-speaking countries – first and foremost the United States, but also the UK, Canada, South Africa and Australia. Emerging economies India, China and Brazil also registered as heavy users. In the case of Russia’s and Ukraine’s intensive use, Chainalysis ties these to widespread mistrust of institutions and possibly capital flight and tax avoidance.
And then there's this. What I can't figure out is if they're usable outside of Utah, Nevada and New Hampshire . . .
New Private Currency Uses Bills Filled with Real Gold
By Jackson Elliott
January 25, 2022
Modern currencies such as Bitcoin expect to find success in a more technological world, but a new currency known as Goldbacks might corner the post-apocalyptic currency market.
In 2019, Goldback president Jeremy Cordon said he had a dream in which he saw people paying for groceries using golden bills.
Cordon had previously worked for years trying to make gold into functional money, but the dream gave him a new idea: What if a bill small enough to buy groceries could include a tiny percentage of gold?
“This felt like an epiphany because I saw people using gold as a regular money,” he said. “This fit into the vision that anyone anywhere could use gold as their currency of choice.”
For thousands of years, anyone who wanted to buy goods with gold faced “the small coin problem,” Cordon told The Epoch Times. A 1-ounce gold coin, worth about $2,000, is far too expensive for everyday use, but a cheap gold coin is impractically small.
“Gold is the best money, but it can’t buy a loaf of bread,” he said.
To solve this problem [remainder at: https://www.theepochtimes.com/new-private-currency-offering-money-for-the-apocalypse_4226175.html]
New Private Currency Uses Bills Filled with Real Gold
By Jackson Elliott
January 25, 2022
Modern currencies such as Bitcoin expect to find success in a more technological world, but a new currency known as Goldbacks might corner the post-apocalyptic currency market.
In 2019, Goldback president Jeremy Cordon said he had a dream in which he saw people paying for groceries using golden bills.
Cordon had previously worked for years trying to make gold into functional money, but the dream gave him a new idea: What if a bill small enough to buy groceries could include a tiny percentage of gold?
“This felt like an epiphany because I saw people using gold as a regular money,” he said. “This fit into the vision that anyone anywhere could use gold as their currency of choice.”
For thousands of years, anyone who wanted to buy goods with gold faced “the small coin problem,” Cordon told The Epoch Times. A 1-ounce gold coin, worth about $2,000, is far too expensive for everyday use, but a cheap gold coin is impractically small.
“Gold is the best money, but it can’t buy a loaf of bread,” he said.
To solve this problem [remainder at: https://www.theepochtimes.com/new-private-currency-offering-money-for-the-apocalypse_4226175.html]
Thanks, @frederick; I'm going to look into that. At this very moment, I'm rather disheartened by learning through research that the original intention of Bitcoin being entirely anonymous has been changed, with its cooperation, by U.S. legal codes to be available to our taxation and other governmental authorities. I will be investing in Bitcoin as a result of this. It seems the only advantage will be to have somewhere to park money while the central banks are destroying fiat money.
How on Earth are we going to be able to prepare for engaging in barter transactions without being controlled by the corruption of the central banks?
By using real physical money
I was also thinking about that question, and the best available option seems to be small denomination silver, mainly "junk silver" old pre 1964 90% silver dimes, quarters, and half dollars. Historically, a dime was worth a loaf of bread, and a quarter a gallon of gas.
The trouble is that there isn't that much junk silver out there, and people don't want to part with it. There are problems
One of the biggest benefits I see to crypto is the ability to easily move it from one country to another. This would be handy for a potential refugee.
That said, there is no nowhere to flee except Christ, and I have already fled to Him. Thanks be to God!
That said, there is no nowhere to flee except Christ, and I have already fled to Him. Thanks be to God!
Fascinating