Diversify into part silver, part crypto currency. The crypto currency discussion can be a lengthy one though. Some speculate xrp might be tied to cbdc. Or focus on privacy coins. Some can be mined. I don't hold any privacy coins at the moment and more interested in following the institutional money.
This guy has a good update on recent events. No one really knows what's going on but xrp is definitely moving forward.
https://youtu.be/0ohTqBINJwE
Also interesting but maybe nothing, just a few weeks ago, if you typed in "world reserve currency" in google, xrp came out top and center. Seems they changed it though.
We need some mean of exchange, that could not be controlled by authorities by design, and have no flaws of presious metals, cash, banks and crypto.
I think that locally some kind of computer assisted multibarter system could be established. As for something global - I don't know, but there should be solution. May be some kind of blockchainless digital currency, or something completely different.
I think that locally some kind of computer assisted multibarter system could be established. As for something global - I don't know, but there should be solution. May be some kind of blockchainless digital currency, or something completely different.
You've just described cryptocurrency in a roundabout way.
Existing cryptocurrencies have too many problems to be used widely. One of that problems is blockchain itself.
And it does not necessary have to be something digital. You even could use conventional coins as a mean of exchange. May be you know, that not all coins are equal, even if they have same value printed on them. There is rare coins, from specific year and specific batch, that could denote large sums, like hundreds of dollars, and less rare coins that could denote tenths of dollars, despite of being just quarters.
The problem with coins/notes is that who makes them (if there is too few of the required type)? With the a centralized authority (government) making them, there is some control on fakes and accumulation of wealth (if you allow private parties to make them, there is no regulation on fakes/hoarding).
But the government can choose to demonetize cash at any time by declaring them to be of no value from so and so date (something like this happened in India a few years ago, and possessing demonetized currency above certain amounts is illegal). Most of the cash is returned to government in exchange for bank transfer for the same amount. Very few coins/notes will be left. If there are very few number of notes/coins of the required type, there is too few for everybody to have, so those who don't have it will resort to barter instead. It is also difficult to make everyone agree on the value of a certain type of note/coin without centralization. And with gold/silver, how do you verify if it is fake?
The problem of fakes and centralization is why crypto was created. Any person can mine their own cryptocurrency if they don't have any (no need for centralized printing/minting). I agree blockchain tech has many problems, but the idea of using cryptography to authenticate is quite sound. There are now multiple alternative technologies in place of blockchains.
Use crypto. Even with gold, how could you ensure that you aren't getting a counterfeit? This is the classic use case for crypto. See my comment further up. The only drawback it has is reliance on the internet and electricity.
Use banks as little as possible. WITHDRAW cash and DEMAND to pay with cash whenever possible. AND demand LAW CHANGES to allow to withdraw and HOLD as much cash as you want wherever you want. STOP CARING ABOUT TAX EVASION .
Diversify into part silver, part crypto currency. The crypto currency discussion can be a lengthy one though. Some speculate xrp might be tied to cbdc. Or focus on privacy coins. Some can be mined. I don't hold any privacy coins at the moment and more interested in following the institutional money.
Any news on xrp?
Dumped in on it about a week ago and planning on a bit more but wanted to do some more research first
I understand it’s not FA and I’m just curious what your thoughts are on the potential ties to central bank digital currency
This guy has a good update on recent events. No one really knows what's going on but xrp is definitely moving forward. https://youtu.be/0ohTqBINJwE
Also interesting but maybe nothing, just a few weeks ago, if you typed in "world reserve currency" in google, xrp came out top and center. Seems they changed it though.
Think.
We need some mean of exchange, that could not be controlled by authorities by design, and have no flaws of presious metals, cash, banks and crypto.
I think that locally some kind of computer assisted multibarter system could be established. As for something global - I don't know, but there should be solution. May be some kind of blockchainless digital currency, or something completely different.
You've just described cryptocurrency in a roundabout way.
Existing cryptocurrencies have too many problems to be used widely. One of that problems is blockchain itself.
And it does not necessary have to be something digital. You even could use conventional coins as a mean of exchange. May be you know, that not all coins are equal, even if they have same value printed on them. There is rare coins, from specific year and specific batch, that could denote large sums, like hundreds of dollars, and less rare coins that could denote tenths of dollars, despite of being just quarters.
The problem with coins/notes is that who makes them (if there is too few of the required type)? With the a centralized authority (government) making them, there is some control on fakes and accumulation of wealth (if you allow private parties to make them, there is no regulation on fakes/hoarding).
But the government can choose to demonetize cash at any time by declaring them to be of no value from so and so date (something like this happened in India a few years ago, and possessing demonetized currency above certain amounts is illegal). Most of the cash is returned to government in exchange for bank transfer for the same amount. Very few coins/notes will be left. If there are very few number of notes/coins of the required type, there is too few for everybody to have, so those who don't have it will resort to barter instead. It is also difficult to make everyone agree on the value of a certain type of note/coin without centralization. And with gold/silver, how do you verify if it is fake?
The problem of fakes and centralization is why crypto was created. Any person can mine their own cryptocurrency if they don't have any (no need for centralized printing/minting). I agree blockchain tech has many problems, but the idea of using cryptography to authenticate is quite sound. There are now multiple alternative technologies in place of blockchains.
Use crypto. Even with gold, how could you ensure that you aren't getting a counterfeit? This is the classic use case for crypto. See my comment further up. The only drawback it has is reliance on the internet and electricity.
Use banks as little as possible. WITHDRAW cash and DEMAND to pay with cash whenever possible. AND demand LAW CHANGES to allow to withdraw and HOLD as much cash as you want wherever you want. STOP CARING ABOUT TAX EVASION .