Here is a good summary of things with gold, so i dont have to say any more on the subject. And this one is even better, but long.
Those who agree that the financial Ponzi scheme we use for commerce is ending, can know we are headed for a world where everyone who owns any value is sitting with these piles of gold or controls commodities.
Just like the good old days.
But as we are not in the good old days any more, we have a need to trade things globally, Gold just wont work for that, it is 'physical'.
So if you dont trust a bank or a FIAT currency to deal with your gold what will you do when you want to pay someone across the world for something ?
In days of yore, one would go to a bank and get a note for the gold you had in storage with them, then you could exchange that note with other banks across the ocean, this worked as the banks colluded to make this system work globally.
But as we are not in the good old days any more, we have a need to trade things globally, Gold just wont work for that, it is 'physical'.
So if you dont trust a bank or a FIAT currency to deal with your gold what will you do when you want to pay someone across the world for something ?
In days of yore, one would go to a bank and get a note for the gold you had in storage with them, then you could exchange that note with other banks across the ocean, this worked as the banks colluded to make this system work globally.
It is massively in the interest of banking that everyone store their gold in their vaults, then banks could take continuously more of all wealth as a tax on all transactions through interest and fees. This forms the basis of world trade, and makes banking is the most profitable business of them all.
Luckily for us, the banks have abused their power in the infrastructure provision role and functionally have been superseded by a technology that makes them irrelevant. (who could blame them, that sort of power corrupts anyone but the most enlightened)
This is a good article where someone suggests people build there own economy from the ground up. But he misses to point out that the some core required systems are already here.
The Bitcoin technology has clearly proven that you dont need a third party intermediary to perform a transfer of value. The ramifications of this fact seem to offer a shock to our present world, the reality is not yet sinking in because of some fear of change and attachment/investment in the present system.
As this is the first time in human history this has been possible, the concept offers something so new and astounding it has people acting very strange around it.
Bitcoin today functions as a divisive issue, people either love it or hate and deride it. In fact most of the press I see about Bitcoin seems to be aiming to find an angle to slam it, sadly side-lining any intelligent debate about what it really represents for humanity.
Luckily for us, the banks have abused their power in the infrastructure provision role and functionally have been superseded by a technology that makes them irrelevant. (who could blame them, that sort of power corrupts anyone but the most enlightened)
This is a good article where someone suggests people build there own economy from the ground up. But he misses to point out that the some core required systems are already here.
The Bitcoin technology has clearly proven that you dont need a third party intermediary to perform a transfer of value. The ramifications of this fact seem to offer a shock to our present world, the reality is not yet sinking in because of some fear of change and attachment/investment in the present system.
As this is the first time in human history this has been possible, the concept offers something so new and astounding it has people acting very strange around it.
Bitcoin today functions as a divisive issue, people either love it or hate and deride it. In fact most of the press I see about Bitcoin seems to be aiming to find an angle to slam it, sadly side-lining any intelligent debate about what it really represents for humanity.
I think one who has any issue with bitcoin is simply one with a high level of investment in the old. The harder they come, the harder they fall or so they say. Why else would you have any emotional investment in Bitcoin being some bad thing (There are plenty worse things in the world to fuss about than yes another system of virtual cash)
Well its just a technology, bitcoin is simply a messenger, a bearer of news of what is possible. Dont shoot the messenger, the news is simply that you have more freedom than you thought, you can trade and a 3rd party is not required, no bank, no legal system, no government. You only need to figure out whether to trust the person you are dealing with, no one else needs to be in the chain and this is radical. (you also actually need to know about how your computer works so you can keep it secure, but the concept of 'personal' data and security is another whole fun subject)
So you don't need daddy any more. Ok I know there is some of that old Stockholm Syndrome kicking in, scared to be free of slave masters, but I like freedom.
So here is how we can trade in the future as the financial system gets even more ropey or collapses. (china is having a good go at replacing the dollar as the reserve currency, so alternatively we may just move over to them being the bankers of the world)
Say you have some gold or silver and you want to do a trade with someone, as long as they have a local way to exchange btc to gold, you agree a trade price in ounces of gold. Then using the current exchange rate of gold to bitcoin, make a bitcoin transfer and you are done. Local trading systems are already being set-up to make this easier.
Well its just a technology, bitcoin is simply a messenger, a bearer of news of what is possible. Dont shoot the messenger, the news is simply that you have more freedom than you thought, you can trade and a 3rd party is not required, no bank, no legal system, no government. You only need to figure out whether to trust the person you are dealing with, no one else needs to be in the chain and this is radical. (you also actually need to know about how your computer works so you can keep it secure, but the concept of 'personal' data and security is another whole fun subject)
So you don't need daddy any more. Ok I know there is some of that old Stockholm Syndrome kicking in, scared to be free of slave masters, but I like freedom.
So here is how we can trade in the future as the financial system gets even more ropey or collapses. (china is having a good go at replacing the dollar as the reserve currency, so alternatively we may just move over to them being the bankers of the world)
Say you have some gold or silver and you want to do a trade with someone, as long as they have a local way to exchange btc to gold, you agree a trade price in ounces of gold. Then using the current exchange rate of gold to bitcoin, make a bitcoin transfer and you are done. Local trading systems are already being set-up to make this easier.
Its fun to watch this story and see how close to reality it pans out. Over the coming years, you will be able to correlate the value bitcoins simply to the number of people who agree with the sentiment of this post. *If true free trade is what people as a whole want*, as I covered in Bitcoin subject and the Infostate, precious metals are simply a transition, but an important stabilising one, if the bitcoin network can stay up, it will only be a matter of transition time for precious metals to be replaced by bitcoin or its successor technology.
(lcovered in other posts on the global free democracy and the infostate model, i see successor digital currencies backed by social networks of skills unions emerging at some point)
This De Gaulle vid is fun, showing how even when there was a gold standard things were on the way to messed up.
(lcovered in other posts on the global free democracy and the infostate model, i see successor digital currencies backed by social networks of skills unions emerging at some point)
This De Gaulle vid is fun, showing how even when there was a gold standard things were on the way to messed up.
And this is just too easy:
