Quote from: RedenBlack13 on September 23, 2018, 05:10:43 PM

Quote from: nyatso88 on September 21, 2018, 12:53:03 PM

Quote from: ReubenMachinga on September 21, 2018, 12:34:56 PM

Quote from: TeddyLinMak on September 21, 2018, 12:09:46 PM

Quote from: ReubenMachinga on September 21, 2018, 09:43:40 AM

I overhead a conversation this morning. 'Twas about the hyper-inflationary episode we went through in Zimbabwe, about a decade ago. One gentleman said to the other, 'imagine working for well over 20 years and your entire pension coming to naught.' I couldn't help but feel a visceral reaction. That, to me, is the result of people not being educated about the financial system.

Humans are really bad at noticing dangers that creep up on us. We end up like the proverbial toad in a pot of hot water. Usually, by the time we realise something is bad, it's too late.

The fiat 'monetary' system is only good for transactions at best. But as a long term store of value, I reckon it's useless. It's that realisation that is Goldma's foundation. Hard working folks around the world deserve a way out of the trap. They have to be able to hold on to the value they worked so hard for. I believe the GMA token is one of those ways.

You're right in that education is key. I think that even when we can see what's happening it is human nature to roll with the flow and follow each other like sheep instead of stepping out of our comfort zones into a new medium. There are SO many people (not just in Zimbabwe but the world over) who have spent their lives working to put away a nice nest egg for themselves and yet have nothing left of it (or not enough to take care of them). There are many working well past their intended retirement and not by choice. It's a terrible situation and I personally look forward to seeing how cryptocurrency investments, and Goldma in particular, can combat that issue.

Yeah. It's that education that I hope to help out with. I'm no financial advisor but i think it can't hurt to look back into history and understand money. Whenever I mention that there is a difference between money and currency, people are sort of dumbfounded. That, to me, is a sign that our education system is doing a poor job making sure that people go into their adult lives with a keen understanding of finance.

We're playing our part and there's a short video coming out that succinctly explains monetary history and how it affects all of us as individuals. Be on the lookout for that.

It would be great if it became a "real money" movement. I think once people understand that fiat currency is simply exported inflationary paper, most people will understand that asset-backed cryptocurrencies are the answer. Otherwise many will be losing their value because they are not aware that the paper they are chasing is just currency and not money. The major difference that everyone needs to understand is that money is a store of value but currency is simply a medium of exchange an unit of account.

I really hope that a massive adoption of cryptocurrencies can get people closer to the financial world. A world that affects them directly, but of which, ironically, almost no one has a clear understanding. For me it has been so.

Projects like GOLDMA are useful also in this perspective.

The people who usually make it in life are people who learn from previous experience and then apply those lessons to protect their present and future so what's really important is that we now know that Fiat currency is not "real" money and a very bad store of value, we need to transition back to gold and make use of blockchain and crypto to ensure transparency and accessibility.