The Future of Money - Gold Standard - Bitcoin
Posted: Mon Aug 14, 2017 6:56 am
The stark dichotomy of political power between uber rich and the rest of us became most obvious after the housing crash and the trillion dollar bailouts. Yet the public no longer see this as "the big problem" as the elite-bought MSM has been hammering home the false reality of an "economic recovery" since the crash of 08, as well as redirecting attention towards the Kardashians and racial tensions.
It's possible that China (leading the BRICS alliance) is making moves towards reinstating a gold standard in an effort to wrestle the control of the global economy away from the US and Europe. This video illustrates that the BRICS nations have enough military power to defend themselves from the US if this happens. There are plenty of "gold bugs" on the interwebs that support this idea, none more passionately than Jim Willie of goldenjackass.com.
It's not hard to see that governments suppress gold and silver prices with paper markets. The prices of precious metals should rise as inflation continues, similar to what we see with housing prices. But this isn't the case; both gold and silver coast along at boring, consistently low levels. This favors those who print money, consolidating the power of money away from the people and into the hands of those that think they know what's best for everyone. China either already has or have been trying to take control of the gold price from US/Europe and will obviously adjust its price if/when it initiates a global gold standard, creating a more fair economy for the world.
However, even with a gold standard, the supply of money is controlled by governments, and as stated above, gold prices can be manipulated. Enter cryptocurrencies.
Bitcoin is the first successful large scale digital currency to ever come into existence, backed by cryptography and user consensus. It is controlled not by a single group or entity, but by a network of "nodes". Full nodes contain and process the entire transaction history of bitcoin, called a blockchain, and can be ran by anyone with a computer (and enough hard drive space for the blockchain) for around $50 a year. "Miners" are a special kind of full node that uses a much higher degree of computing power, and thus electricity, to participate in 'unlocking' and earning new bitcoins in a predetermined, timed manner. The properties and rate of production of bitcoin cannot be tampered with unless the entire network of nodes agree to it.
Unless there's a serious flaw to be found within the protocol(s), which seem less and less likely as time goes on since bitcoin's inception in 2009, cryptocurrencies will be the best, most fair form of money to ever exist.
What do you guys think? Is there no way China could pull this off? Is bitcoin the future of money? A giant scam?
It's possible that China (leading the BRICS alliance) is making moves towards reinstating a gold standard in an effort to wrestle the control of the global economy away from the US and Europe. This video illustrates that the BRICS nations have enough military power to defend themselves from the US if this happens. There are plenty of "gold bugs" on the interwebs that support this idea, none more passionately than Jim Willie of goldenjackass.com.
It's not hard to see that governments suppress gold and silver prices with paper markets. The prices of precious metals should rise as inflation continues, similar to what we see with housing prices. But this isn't the case; both gold and silver coast along at boring, consistently low levels. This favors those who print money, consolidating the power of money away from the people and into the hands of those that think they know what's best for everyone. China either already has or have been trying to take control of the gold price from US/Europe and will obviously adjust its price if/when it initiates a global gold standard, creating a more fair economy for the world.
However, even with a gold standard, the supply of money is controlled by governments, and as stated above, gold prices can be manipulated. Enter cryptocurrencies.
Bitcoin is the first successful large scale digital currency to ever come into existence, backed by cryptography and user consensus. It is controlled not by a single group or entity, but by a network of "nodes". Full nodes contain and process the entire transaction history of bitcoin, called a blockchain, and can be ran by anyone with a computer (and enough hard drive space for the blockchain) for around $50 a year. "Miners" are a special kind of full node that uses a much higher degree of computing power, and thus electricity, to participate in 'unlocking' and earning new bitcoins in a predetermined, timed manner. The properties and rate of production of bitcoin cannot be tampered with unless the entire network of nodes agree to it.
Unless there's a serious flaw to be found within the protocol(s), which seem less and less likely as time goes on since bitcoin's inception in 2009, cryptocurrencies will be the best, most fair form of money to ever exist.
What do you guys think? Is there no way China could pull this off? Is bitcoin the future of money? A giant scam?