One friend that I used to have on Facebook (I #deletedfacebook a couple weeks ago) seemed to think that governments will come together to try to extinguish the threat that cryptocurrencies pose to the existing financial system. He wasn’t the only one to think this. There was someone else who made a bet with me saying that Bitcoin would go to zero value by the end of January 2018.
We’re beginning to see how the use of cryptocurrencies by governments is likely to play out. They are instead starting to use them as a weapon against other governments for subverting sanctions. Whether it be Trump’s sanctuary city defunding (thanks to @taskmaster4450 for pointing this out) within the USA, or international states going against western government sanctions, cryptocurrency is being used at multiple levels to free the oppressed from central control.
We in developed countries have a tendency to think of our governments as invincible gods incapable of being resisted in any way. But they are far from the Borg that we see in Star Trek TNG. Resistance is fertile (I forgot who said that). The seeds for a new way of life are being planted right now and authority is scrambling trying to create FUD to create the illusion that nothing significant is happening. We in the west have grown largely complacent either in denial or completely unaware of the massive disruption that is about to hit in just a handful of years time.
I have no doubt that more bans on bitcoin will be attempted, such as the one recently for mining bitcoin in Venezuela. Currency wars have been ongoing for several years now in many countries. But you should educate yourself about what a ban really means in practical terms. Never has a ban on currency led to the banned currency not being used.
The effect is actually quite the opposite. A ban puts a premium on the illegal currency and makes it more valuable. Typically the legal state currency continues devaluing until it’s worthless and some other state currency takes its place with a new financial foundation. A ban effectively enriches those signing their names on the law because they know that police will confiscate the illegal currency and attempt to keep it for themselves because it’s the good money. This happens while everyone is trying to get rid of the bad money (see Gresham’s Law).
The Revolution will begin in the Third World
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The 1776 moment is returning for the USA early in the next decade, but it isn’t for those of us in the west. We’ve been asleep while the spirit of King George has been busy resurrecting the British empire on our soil. We are now the ones who will be defeated in a war that the rest of world will declare in independence from us. The system of financial exclusion that our banking institutions have been using will become increasingly ineffective as cryptocurrency use becomes more prevalent.
In recent years, compromise has become a dirty word. This trend in politics that only accepts an attitude of “all or nothing” actually helps bitcoin and other crypto’s to succeed. It’s the lack of cooperation across the aisle that will cause political factions to use the tool of cryptocurrency in order to get out from under political oppression or restriction. Many of these nations are defined as “terrorists” by the USA just as King George declared George Washington a terrorist.
Tech Giant’s such as Amazon will become the new Interim Government
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As the equity drain progresses away from the use of the petro dollar (Syria was one of the countries who resisted our central banks), governments around the world will have to downsize their budgets. Those who’ve not been paying their taxes such as Apple and Amazon will then have to invest in infrastructure from their own pockets, else their centralized business models will also fail. This is why I expect all the tech giants which have been using surveillance against us will eventually replace our current federal government in some informal fashion.
We can see this trend quite clearly with Amazon as practically every service is being provided by them under one umbrella. Pretty soon we’ll see in action “who will build the roads without government”. Before this happens, there will be widespread chaos as global systems begin to become more localized. As the collapse beings, some on the homeland of the USA and other western nations within the jurisdiction of US power will become the unfortunate scape goats of the cryptocurrency revolution as they become targets of the old government structures. Their thug nature will become exposed for what it is once financial backing is lost.
However, the old system doesn’t have what it takes to do this to everyone who will be involved. They will be a tiny drop in the bucket compared to the rest of us who will openly disobey because to obey will be the same thing as lying down to die.
Donations (public bitcoin address):
3FwxQsa7gmQ7c1GXJyvDTqmT6CM3mMEgcv
When I found out there are satellites which facilitate the transfer of cryptocurrencies, I realized the government can't effectively restrict them. It would require too much effort to track down every transaction especially with coins like Monero and jf may be impossible to track the next generation of quantum coins. The government should only concern themselves with taxation and legislation to punish a new generation of inevitable cyber criminals.
Congratulations on deleting Facebook, I shut mine down over two years ago. Have an upvote in solidarity!
You're correct on the revolution starting in third world countries. Quite frankly they need this disruption more.
I don't understand this idea that the United States is the only (or primary) nefarious actor on the world stage. While it is arguable that the US unjustly throws its weight around, it isn't as if the US has a monopoly on corruption. Bitcoin and cryptocurrency have no power to change the urges that lead to the concentration of power. Even Satoshi's vision ended up corrupted by mining pools.
Seems to me that instead of longing for the collapse of Western Civilization in hope that something better will rise Phoenix like from the ashes, we should be focusing on what works. There are plenty of crypto projects that are attempting to address things like wealth inequality and unequal flow of capital. Let's get these things up and running and see what happens. Just maybe the world will be better for it without all this hyperbole about tearing down civilization and rebuilding it from scratch. After all, whenever such a wholesale change of civil order happens, it is the average, normal people that end up dying in numbers that vastly outstrip the body count of the elites.
I don't think you quite understand my position. I'm not longing for the collapse of western civilization. That must be some sort of projection on your part. I focus on the USA because that's where I am and I try to call it as I see it with as little bias as possible. I actually stand to lose a great deal when western civilization collapses. My pension for one (which I've been investing a small amount of in crypto as social security insurance), 70 acres of farmland for another. I'm quite far from indigent and semi retired operating my own software business. The USA has been quite good to me, but the leadership is failing. The police culture has gotten out of hand. I know this because many of my family are in the police and military. My great grandfather (Grieb) was former police commissioner for the city of Syracuse (long time ago).
As for focusing on the USA, again because that's where I am and because it's a lot simpler to list that way. It would be cumbersome for me to fully list all the countries involved in nefarious state activity (practically all of them). Instead I would list the much smaller list of countries that don't seem to be a criminal gang in charge of government aparatus (Sweden and Norway come to mind). But this is less than 5% of the world's governments.
I will admit to the use of a little hyperbole. But there does seem to be an undercurrent of f**k the West in the crypto world.
I am also not particularly proud of how our country has behaved over the past two decades. I understand the sentiment that "there's got to be a better way". But my experience has been that scorched earth tactics only lead to the next demagogue.
Crypto can be an engine of positive change if we don't get all freaky about it and start calling for the death of anything not ideologically pure.
This video should give you a better idea of where I'm coming from...