Cryptocurrencies are revolutionizing the world by decentralizing the creation of fiat money.
The recent rise of Steem and the record highs of Bitcoin is down-right thrilling! Especially for those who’ve hedged their bets by buying and holding these crypto when they were at their lower ends. Huge dividends can now be collected for those who wish to cash out and convert their BTC’s, SBD’s and Steem to the currencies of their established governmental monopolies.
Congratulations to all! Enjoy the fruit of your “labor”, go on! You’ve earned it!
In the midst of our celebratory dancing, however, let’s not lose sight of the bigger picture. For those who haven’t seen the picture yet, allow me to paint it for you by way of a story.
Imagine you have a special tree in your back yard. It’s a very special tree, for it grows money instead of leaves. Whenever you want to engage in commerce you don’t have to go to a bank to get money, oh no, you simply take a casual stroll into your beautifully landscaped backyard and pluck a few “leaves” off your special tree. Tis’ that easy. No fuss, no muss.
With this money tree you are able to not only provide for you and yours but also for those who don’t have their own special tree. You are blessed, indeed, and a blessing to all those around you. You quite honestly have need of nothing. Life is good…
However, deep down something just feels wrong about this scenario and you begin to feel uneasy.
The simplicity of creating your own money assaults your senses, challenging all your presuppositions on how and where money comes from. A little voice inside your head is warning you that something just isn’t right. You didn’t have to work for it and it wasn’t bequeathed to you from a financial institution. Shouldn’t you have to expend yourself physically and mentally to earn money? Shouldn’t money come from a boss or a customer? Ultimately, shouldn’t all money come from banks? These questions gnaw at the fringes of your mind, unsettling your usual sunny disposition.
The process by which money is created is so simple the mind is repelled - John Kenneth Galbraith
A bit of fear grips your heart as you begin to think about the legalities of having a money tree. After all, isn’t money creation the jurisdiction of the government? What if the IRS, the FBI or the FED find out about your special little tree? Perhaps you should cut it down and burn it before anyone finds out? What if? That uneasy feeling gives way to full blown panic because deep down inside you’ve been taught that you don’t have the authority to create your own money. Despair sets in as you fret over what to do with your special little tree.
Then along comes a few good friends, Satoshi, Dan, Ned and Vitalik. They implore you to calm down, take some deep breaths and R-E-L-A-X. They assure you that you need not worry. The IRS, the FBI or the FED won’t come and arrest you. You are not counterfeiting, that is, making THEIR currency without their permission. No, you are growing your own currency. No permission is required. It’s your tree, fair and square. Your friends make it clear that you have the right to partake of its fruit anytime you desire.
With a huge sigh of relief you gently reach up and grab a handful of leaves and give it to your friends for being such a comfort. Life is good again…
Hopefully, this picturesque story helped reframe your view on the potential of Cryptocurrencies.
If the power to create money out of thin air is available to everyone, not just the chosen few (bankers), then there is no need for anyone to be in need again.
Let me repeat that:
There is NO NEED for ANYONE to be in need again!
This is the dirty little secret that the Private Central Bankers and their puppet governmental officials didn’t want the unwashed masses to find out.
The ramifications of this will be Promethean.
Now that Bitcoin has been recognized as legal tender in Japan, all governments of the world must recognize it.
Cryptocurrencies are here to stay.
Freedom from economic slavery has come to humanity!
But do we have the will to fight for it? Because the Banksters won’t relinquish their power without a fight. You can count on that.
Thanks for reading.
As always,
Bluer is better
Bluer is greener
Be Bluer than green
This post received a 4% upvote from @randowhale thanks to @allforthegood! For more information, click here!
Nice tree. I like it.
Thanks. @allforthegood made it for me. She is a talented graphic artist.
Nifty!
I am struck again by my certainty that we are approaching a post market economy, in which automation will completely eliminate capital.
Your little tale of the money tree illustrates how Steemit is actually at the shockwave of this transcendence, as our interactions form the basis for what is currently described as money.
This concept of money is an extension of the need for work to produce goods and services, as money has come to represent goods and services in a form that is transferrable and accumulable. Now, using tricks to get money, an individual can accumulate wealth representative of work that is impossible for an individual to perform.
Some people are possessed of work that they have not done, and they gain this work by depriving others of the value of the work they have done. A clearer illustration of injustice is hard to imagine.
So, what will money represent when work is not necessary to produce goods and services, when automation completely replaces the need to do work?
Nothing. Nothing at all.
We are in a transition period between a time when people had to work to get anything done, and a time when things will get done without people having to do anything.
Steemit is an elegant solution to making that transition to a world when our interactions, and our reputations, will be the sole source of value in our lives.
This, I believe, will be a better world by far.
Thanks for making those connections in my head, with your post.
No, thank you for such a well thought out response.
Good post. I agree that cryptocurrencies are good for all involved however they are s fraught with scams too so a better due dilligence is required before investing. I posted on my wall limitations of steem and bitcoin and hope that developers will improve on it...still bullish on steem, etherium and bitcoin and see a bright future. Thanks for your post
Great story! I have my own special little tree. It's called a Poloniex Bitcoin Lending account. I tend it regularly, not much work, just check to make sure it's going at it's optimum rate. Right now it grows about 50% per year.
This is a steemit contraband stuff my friend, promote it to me in Steemit.chat not on post buddie!
I'm not too familiar with steemit etiquette yet. I just signed up with steemit chat yesterday so I'm glad he dropped that comment here so I can comment more on steemit chat. Thanks.
OH!.....am sorry i was referring to @gregory-f
Have you ever had a conversation with a 'non believer', as if the numbers in their bank account are any bit more real than the coins being mined?
Its comedy
As a teen in 2008 I realized how money is perception right after QE1
but,
the idea of the Joe Shmoe's of the world doing the exact same thing was unfathomable........
UNTIL BItcoin
Thank You Sensai Satoshi
'No profit ever became famous until they left their home'
I agree brother, crypto is here to stay ! Excellent post! Steem on!
I too woke up to how our economy works after the 2008 financial meltdown. At first I was in disbelief at how simple it is, yet everyone makes it so complex. Then I became angry when I realized that what happened could have been avoided. It wasn't an accident, or due to bad home loans. First by inflation then by deflation they will bring us into abstract poverty...
Bluer IS better!! Thanks for the story...I love it :)
Dammit boy!!
that was profound.
If I was still truckin I'd swing by and we'd have a brew...
(or twelve)
I'm retired so that' not gonna happen real soon
(until I get my houseboat fixed)
so here's to you
POPPA PEPPER..
(who's young enough to be my son)
kinda makes me relax a bit with that statement ;} Thanx
Good post.. I start to learn the cryptocurrancies wolrd even I was new for this. Upvote and follow you
Welcome to a whole new world!
Thank you @bluerthangreen
This is so true.
For me, the ultimate goal of our species right now is that we will not need to work to get our Primary Needs (sustenance, shelter) fulfilled in the near future.
There'l still be work, but it'll be to "upgrade" your shelter, eat more luxurious food, etc...
And as automation improves, the "base" versions of these things that everyone has access to improves too.
OF course... we'll have to contend with the people who believe ALL the profits are theirs by virtue of either hard work in the past and/or inheriting money, even if those profits are suddenly derived entirely from computers and AI with no actual physical costs.
There's going to be SO many ways these things can play out...
In any case, LOVED the Steemit Tree analogy and logo !
The idea of UBI (Universal Basic Income) can be a good thing if the current system of fractional reserve banking and private central banking is done away with. If we try to put new wine into old wine skins the skin will break and the new wine will be ruined. However, if we create a new system, one that is based on crypto, one that is decentralized and peer to peer, then the new wine will be just fine in the new wine skins. I agree, this can play out in so many different ways. Hopefully, we can come together as a community to help steer it in the right direction. First, we need to educate one another on how money works and how Distributed Ledger Technology works and how they can be melded together. Thanks for your thoughts.
True. I've signed up for Grantcoin to see if they can manage it, but given they're nearly 2 months late in their UBI distribution (which is just 1-2$ worth anyway) I think they're kind of falling into the abyss XS
No problemo. I exist to learn, and to share what I learn :) (at least... that's the ultimate goal... I haven't finished brain-washing myself to the point where Learning and improving my skills is one of the ultimate joys in my life XD)
It's too bad about Grantcoin... I've got 7600 of them, so if they could get to 1$ worth, that'd be GREAT XP
I like the story,and I can see what you mean about money growing as if on a tree from the investment view,because my rewards from the $70 earned from my Steemit posts since joining in January this year,now stand at over $1000 this morning, thanks to the investment surge.That can wither on the vine overnight in a frost of bad news.
More difficult to understand is the confusion around the day to day use of crypto currency. I read one minute that it is Peer to Peer transacting.Individual to individual or company.No bank,government or other interference or control.But then I read the transaction charges for Bitcoin are steadily increasing,because demand is slowing the process of mining the transactions.Miners are choosing to prioritise transactions that pay more for speedier attention.Supply and Demand governs prices. Nothing changes then ? So we've found a way to keep government and bank snouts out of our trough,but the new middlemen will be the miners.The old saying is true isn't it - Same Horse Different Jockey.
For sure, the system we currently have is far from perfect, but it's the concept of being able to create our own money out of thin air that has changed the game. For centuries private central banks have reaped the power and money from creating their own currencies. Much of what is wrong with our world today is directly linked to the greed and avarice of the Banking Elite. If we wrest that power from their hands by creating our own currency and using it to meet the needs of our fellow man, we could end all kinds of suffering. It would have to be well thought out, but the ability for us to do it is now possible. Thanks for your response.
Many thanks for your reply. I agree that greed has caused many problems, and sincerely hope you are right.In business I had my run ins with government and banks,so they deserve a shake up.
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As the saying goes - Kill not the goose that lays golden eggs...
Now, we need to use our acumen and identify that Goose among others that we have...
I can understand how you can create your own money being paid to post in steemit. but I do not understand how other cryptocurrencies grow your own money other than rising in value. How can crypto currencies make you richer?
All crypto-currencies are based on distributed Ledger technology. Meaning they are glorified databases that are all linked together or chain together so to speak. All that money is is a system of accounting of keeping track of some value that is given or received in exchange for some good or service. Money in today's world does not have to be backed by anything hence it's called Fiat. Private central banks get their legitimacy to create money out of thin air from their respective governments. Since it is all created out of thin air anyways what's to stop others from creating their own money out of thin air and using that amongst themselves P, peer-to-peer? Bitcoin started off as just a currency that was exchanged among those who are involved in computer programming and coding industry. Once those users began using that currency to exchange real life Commodities such as pizza, it broke through to the real world and began to be exchanged for fiat currency of the private central banks. All Cookeville currencies have value only because the users of them perceive that they have value. So it is in the same case as money that we call money anyways. Some crypto-currencies start with a bang and then shrivel up and die on the vine others stick around and flourish. The difference between those that flourish and those that die is traction. To gain traction means you need to gain in popularity and use outside of that particular system. I'm text typing this by speaking into my phone so if the grammar and The Styling is off I apologize. I hope this answers your question.