Post
Topic
Board Economics
Re: Cryptocurrency as the Imperial End-game
by
BobK71
on 27/11/2017, 20:57:11 UTC
Cryptocurrencies won't contribute to the reconstruction, rather they will further degrade the global economy. Why?
No doubt everyone wants to see his nation growing and strengthening but not everyone can contribute to that hugely. It is always government or banks that take steps in the field of economic reforms. But if we substitute the concept of state's money to people's money, government or banks will no longer be the biggest player in economic construction as cryptocurrencies are already distributed among group of people.
The current holders will become new ultra-rich and non-holders will become poor. As a result, economy will crack drastically.

Remember, gold and silver were decentralized, limited-supply, and non-state-issued, just like cryptos.  But for most of the time since the 1500s, the imperial elites controlled the world by controlling money/debt, pretty much the same way they do under 'fiat' money.

The key is how much the elites own.  In the old days, they owned a lot of gold/silver.  By 1971, they didn't have enough.  With cryptos, if they go in with a plan from the beginning, they will own enough to control the whole system.  (The US legitimized Bitcoin around 2013, I believe.  At that time the price was under $100.)