why digital / crypto currencies (e.g. bitcoin) keeps us in the same self-created traps as private / paper currencies

many have jumped at the chance...

to use the variety of digital currencies (such as bitcoin, litecoin & many others) that are now available. the benefits of these, when compared to the fiat currencies and fractional reserve systems of the private 'central' banks are many, since crypto-currencies (as these new digital currencies have been labelled) allow us, theoretically, to:

bypass the 'big banker effect' by not requiring a central bank to control the flow of money - since crypto-coins are 'mined' by each user of the currency using computers which create the codes which represent the uniqueness of the crypto-coins and thus represent the 'value' of the currency, due to the 'rarity' of the codes.
improve the transparency of money, since - without any central bank to control and 'massage' the figures, there is greater transparency and less control from 'shadowy figures' over the 'shadowy numbers'.
make money more efficient - since there are less overheads for transactions, since all transactions can occur using technology at light speed.
apparently make a dent in the absurd system of usury, money lending and denial that is fueling the existing approach, where banks 'make' money out of nothing and then lend it to you and expect you to repay them with interest (while not mentioning that the total amount of interest that is owed can never be re-paid since that amount of money will never exist, since it is never created by the banks - thus the system includes the built-in 'feature' that a percentage of 'loans' can never be paid back and thus a percentage of people WILL lose their homes). (more info on this topic is available from the money katalist here).

HOWEVER

there are multiple fatal flaws with bitcoin and bitcoin-like crypto-currencies, which are in opposition to integrity, balance and success.

if we desire to improve life and be free as free can be - we need to do more than make a minor improvement in money. money itself is the opposite of free. remember?

here's some points that the bitcoin 'experts' commonly deny or are unaware of:

crypto-currency can only exist if the technology exists to create the currency. therefore, the currency relies upon mass mineral mining, factory production and legions of people involved with creating this 'pseudo money'. people who work 'for money' to then help you 'make your own money' to then 'buy the things these people are making' - you see the cycle of futility here? this is illogical and is an aspect of the self created trap that the short-sighted maintain daily.
much of the minerals and materials used in the technology is mined by children in africa in conditions which can only be called literal slavery (e.g. the coltan used in laptops and cellphones - see this video for more info).
many of the factories that make the equipment in asia also involve slavery type conditions and are FAR from FREE.
crypto-currencies can be bought, mined and held by anyone - including those who are generating fiat currencies from 'nothing' - they can essentially fill warehouses with mining computers and create crypto-currency far faster than anyone else - if they choose to. so this is in many senses, just making the situation worse - increasing the slavery, increasing the raping of the planet and for what? just another twist of the knife of those who's greed is projected as 'a smart business move' from 'a quick thinker'. quick thinking is not wisdom.

so what is the result of this overall? on balance is this an improvement?

some individuals have a new way to 'make more money' - while many individuals are put under more pressure to slave away. so this is not an improvement overall.

BOTH the fiat currency approach and also the crypto-currency approach are both fatally flawed and neither will bring us to the balance that is needed for well-being.

for true balance and abundance we need to move towards FREE, not CURRENCY; we need to move towards HARMONY and not COMPETITION. these are changes which start in the heart, not in a calculator or spreadsheet.

you will no more find health sat on top of a giant stack of coins, than you will with a giant stack of encrypted pseudo coins if the environment can no longer support life after being 'mined' to a point of non-return by 'minds' that known nothing of love, balance, heart values and what they and life truly ARE.

SO WHAT IS THE NEEDED SOULUTION HERE?

in general: think again, feel more, remember/learn who you truly are & what life is.

realise that money is only a symbolic arranging of atoms which is intended to facilitate exchange. the exchange can occur with or without money and indeed, one of the results of using money is that deals are made 'for money' which would not other wise be made at all (and which go against the true needs and desires of those involved). through choosing to only do what is truly needed/desired to be done - through direct conscious agreement of those involved - the needed heart connections can be made between people, which were lost long ago. the heartlessness of modern society can be seen not just in the way the homeless are abused and in the faces of those who have been raped and tortured by heartless regimes. the heartlessness can also be known in the face of the airline stewardess who pastes on her war paint to always appear 'happy' while inside she is heartbroken. the heartlessness can also be known through the criminal 'politicians' who steal and plunder from anyone and everyone as they attempt to 'further their goals', while entire nations starve to death.

money is not real. period.

only through living with actual reality, which includes true feelings, can we know who we are and what is needed for us.

walking bare foot, to connect to the earth, also connects you to your own soul - and you are going to need that much more than you need some NUMBers.

THIS WAS ORIGINALLY SHARED ON UREKA, HERE: https://www.ureka.org/thoughts/view/7266/why-digital-crypto-currencies-eg-bitcoin-keeps-us-in-the-same-self-created-traps-as-private-paper-currencies