I agree. Ultimately all currencies have been themselves exchanges. For example: corn notes, tobacco notes were first paper currencies used to represent shares of a commodity. Bitcoin represents energy spent not energy stored. Thus it's technically a liability not an asset....
It's what they want you to think, the reality is properties similar to metals. But because it's digital it's easier to acquire, and hold, and it's easy to divide into smaller pieces.
The reason metals doesn't increase in value as they should with their limited supply, is because they sell fake paper metals to a whole bunch of idiots, today even via internet which is just fiat 2.0, or digital fake metals not backed by real metals.
The regulatory with crypto only applies if you try to convert it to fiat, which would ruin the whole point of it anyway. Just use it as bartering and nobody could stop you.
As for quantum computers, that's fear mongering. If quantum computers ever successfully cracked certain encryption algorithms within a reasonable time, it would of course effect all encryption.
With crypto it's easy to upgrade to a quantum secure algorithm through a fork from a snapshot of the chain just before the hack occurred. It's not a loss, as it would be if all of your other secrets where revealed and stolen. Not all cryptocurrencies use the same algorithms either, plenty of coins are safer than Bitcoin in terms of quantum proof algorithms.
The "vulnerability" does not exist yet. Current algorithms and key length is quantum secure for at least another 10 years.
The common way to improve security within encryption is to simply double the key length. This typically provides sufficient security for another decades.
Better security also means that the software will be slower, more data to store and transmit, but most importantly more data to process. For already existing machines we're talking exponential growth in time complexity.
Now this will have a much lower impact on decentralized networks such as cryptocurrency, but still noticeable, so you don't implement that until it's needed. That's the policy of Bitcoin however, many other coins already use quantum secure algorithms, so if you're smart you just avoid Bitcoin and go for the coins that are secure.
Whatever you do, avoid centralized digital systems. Your bank for instance would have to exponentially grow the amount of servers to catch up with the new more secure algorithms, which is gonna be a costly process. Fakebook, twatter etc would have to build new data centers.
Rather be poor today than any time in prior human history. That said, with their attempts to cull the population it's about to get much worse for anyone who isn't filthy rich and even some of the filthy rich are going to die from the poison.
I wish more people launched co-ops. They really are the original kickstarter. So many beneficial laws regarding co-ops, like the way housing used to be in new york.
In addition to the major problem you pointed out about rentals is that the government taxes the bejesus out of you for owning property... they take their cut up front, soaking up your meager profits while you have to accept all the risk and put in the work on them. Very difficult to get a real return until the mortgages are fully paid off.
the system is unsustainable. once/if you come to that conclusion, you'll also likely come to the conclusion that physical precious metals, if not the best, is the most efficient way to save one's excess productivity. since no one can predict when the system will fail, some savings would be better suited to other speculations/investments.
also, on a truly basic level, energy is the economy/wealth. i don't mean just oil, but oil, electricity, fuel, calories, etc. without cheap excess fuel/energy/food, there is only basic sustenance in any society.
what i'm saying is have pm's, invest in energy, utilities, mining, consumer non discretionary, ag, etc. and do some calculated options with the dividends.
i learned the following on YT and it helped me a lot. first, think of ways to increase your income/savings. when constructing your portfolio, think of it like constructing a soccer team, allocating percentages for defense, midfielders, forwards, goalie, and bench.
i'm quite tired, but made a semi long response, cause your post resonated with me.
Agreed. The buy-and-hold strategy could pay off someday, depending on how the whole crypto market shakes out after the fiat crash. Feels like real economic freedom through crypto is slow in coming because so many people are chasing profit.
As I've tried to point out many times, and been shouted down by the zealots, crypto can be a get rich quick scheme or a currency. It can't be both. They are mutually exclusive concepts.
It currently is both tho, call it a war or whatever but fact remains, some idiots chase profits and others use it to preserve their freedom, despite volatility. If your portfolio is small you could use stable coins pegged to gold or silver to safeguard against volatility.
I guess crypto is too broad a term. I should have said Bitcoin, or the most popular crypto coins. There are a ton of different coins, but there are just a few that dominate the market cap and transaction volume numbers.
As the alternative would be precious metals, you could consider crypto as freedom. Sure if satellites and underwater cables where cut off, you'd only be able to transact over a shorter distance, and transactions would take longer.
But even then there may be cases where that's more convenient then physically drive a long distance just to pay in metals. In really bad situations where entire communities are shut off from all connectivity, local cryptocurrencies would likely be an alternative, as your local town or village would still have connectivity through already existing cables or radio signals.
whales gonna whale
You can't acquire wealth by acquiring debt currency.
You can if the printing press feeds directly into your pocket.
Sucks though I still think they're better than stocks or crypto. Crypto has massive black swan regulatory and quantum risks imo
I agree. Ultimately all currencies have been themselves exchanges. For example: corn notes, tobacco notes were first paper currencies used to represent shares of a commodity. Bitcoin represents energy spent not energy stored. Thus it's technically a liability not an asset....
It's what they want you to think, the reality is properties similar to metals. But because it's digital it's easier to acquire, and hold, and it's easy to divide into smaller pieces.
The reason metals doesn't increase in value as they should with their limited supply, is because they sell fake paper metals to a whole bunch of idiots, today even via internet which is just fiat 2.0, or digital fake metals not backed by real metals.
The regulatory with crypto only applies if you try to convert it to fiat, which would ruin the whole point of it anyway. Just use it as bartering and nobody could stop you.
As for quantum computers, that's fear mongering. If quantum computers ever successfully cracked certain encryption algorithms within a reasonable time, it would of course effect all encryption.
With crypto it's easy to upgrade to a quantum secure algorithm through a fork from a snapshot of the chain just before the hack occurred. It's not a loss, as it would be if all of your other secrets where revealed and stolen. Not all cryptocurrencies use the same algorithms either, plenty of coins are safer than Bitcoin in terms of quantum proof algorithms.
If they could just instantly fix this known vulnerability then why haven't they done so
Two reasons:
Better security also means that the software will be slower, more data to store and transmit, but most importantly more data to process. For already existing machines we're talking exponential growth in time complexity.
Now this will have a much lower impact on decentralized networks such as cryptocurrency, but still noticeable, so you don't implement that until it's needed. That's the policy of Bitcoin however, many other coins already use quantum secure algorithms, so if you're smart you just avoid Bitcoin and go for the coins that are secure.
Whatever you do, avoid centralized digital systems. Your bank for instance would have to exponentially grow the amount of servers to catch up with the new more secure algorithms, which is gonna be a costly process. Fakebook, twatter etc would have to build new data centers.
Banks have failsafes for fraud. Bank ledger also aren't public. I'm not necessarily "pro bankster" or "anti crypto" but I'm tracking the risks.
Rather be poor today than any time in prior human history. That said, with their attempts to cull the population it's about to get much worse for anyone who isn't filthy rich and even some of the filthy rich are going to die from the poison.
I wish more people launched co-ops. They really are the original kickstarter. So many beneficial laws regarding co-ops, like the way housing used to be in new york.
Fits with my observations.
Only rich ppl I know are dishonest ppl.
Also fits with what christians say about Satane being the god of this world.
In addition to the major problem you pointed out about rentals is that the government taxes the bejesus out of you for owning property... they take their cut up front, soaking up your meager profits while you have to accept all the risk and put in the work on them. Very difficult to get a real return until the mortgages are fully paid off.
Correct. The only people making money are the ultra wealthy that have money shoveled at them by the government/Fed.
the system is unsustainable. once/if you come to that conclusion, you'll also likely come to the conclusion that physical precious metals, if not the best, is the most efficient way to save one's excess productivity. since no one can predict when the system will fail, some savings would be better suited to other speculations/investments.
also, on a truly basic level, energy is the economy/wealth. i don't mean just oil, but oil, electricity, fuel, calories, etc. without cheap excess fuel/energy/food, there is only basic sustenance in any society.
what i'm saying is have pm's, invest in energy, utilities, mining, consumer non discretionary, ag, etc. and do some calculated options with the dividends.
i learned the following on YT and it helped me a lot. first, think of ways to increase your income/savings. when constructing your portfolio, think of it like constructing a soccer team, allocating percentages for defense, midfielders, forwards, goalie, and bench.
i'm quite tired, but made a semi long response, cause your post resonated with me.
https://www.youtube.com/watch?v=z83Rd160YGs
this changed my way of thinking
The potential benefit of crypto is as an alternative system to central banking.
Anyone using it to gain fiat wealth is reinforcing their own enslavement.
Agreed. The buy-and-hold strategy could pay off someday, depending on how the whole crypto market shakes out after the fiat crash. Feels like real economic freedom through crypto is slow in coming because so many people are chasing profit.
As I've tried to point out many times, and been shouted down by the zealots, crypto can be a get rich quick scheme or a currency. It can't be both. They are mutually exclusive concepts.
It currently is both tho, call it a war or whatever but fact remains, some idiots chase profits and others use it to preserve their freedom, despite volatility. If your portfolio is small you could use stable coins pegged to gold or silver to safeguard against volatility.
I guess crypto is too broad a term. I should have said Bitcoin, or the most popular crypto coins. There are a ton of different coins, but there are just a few that dominate the market cap and transaction volume numbers.
As the alternative would be precious metals, you could consider crypto as freedom. Sure if satellites and underwater cables where cut off, you'd only be able to transact over a shorter distance, and transactions would take longer.
But even then there may be cases where that's more convenient then physically drive a long distance just to pay in metals. In really bad situations where entire communities are shut off from all connectivity, local cryptocurrencies would likely be an alternative, as your local town or village would still have connectivity through already existing cables or radio signals.
WEALTH ---- is the actual usable commodity
Changing the carnival tickets doesn't create/preserve wealth.
Well said. You get it.
Diversify. Buy land, crypto, stocks, etc. Don’t back a single horse. Bet on many.
"Crypto" is a scam. Only Bitcoin matters.
Bitcoin is up over 1450% since March 2020.
It was one of the first commodities to increase when money printing accelerated.