WW₿ - The Digital Front
The hash wars are officially ON LIKE DONKEY KONG! In a dramatic shift in altitude, China has launched an enormous flare indicating that the country will embrace Bitcoin as an "investment alternative." In a CNBC article from yesterday, Arjun Kharpal reported that the deputy governor of the PBOC, Li Bo, used these exact words.
Now, I know some of you might be thinking that perhaps the man misspoke or that something got lost in translation. Well, I assure you that this isn't the case. The Chinese know what happens when you cross the party because everyone in China is a loyal party member. And so long as these folks value their innards and like their hearts beating inside of their collective chests, as opposed to animating some Saudi Prince vacationing in Bahrain, there will be no faux pas, only diamond paws!
In the video above, Max Kaiser speaks with Alex Jones about the latest revelation, and with it comes some heavy speculation. I use the word heavy because Max has a lot of street cred in the cryptosphere. He is to crypto futures prediculation as Alex Jones is to politics. Yes, prediculation is a word now, and you can mark my words because I predonked this many beers ago. To put it more succinctly, they both knew almost everything in their respective areas before it happened, and then some!
One of Kaiser's eyebrow-raising comments is the rumor (or the fact) that China will be creating a gold-backed crypto, and this both amazes and terrifies me. The former because it will work, and the latter because it will break. We've been down this path before with the Federal Reserve. They made gold-backed IOUs. Then they gently rocked and lulled the U.S. into a normalcy bias. And BAM!, they outlawed the gold and put everyone in duress via legislative fiat to turn in their valuable alloys in exchange for worthless pieces of ink and paper.
I already know what some of you are thinking. I say this because I'm a bit of a mind reader. It's a cognitive distortion of mine, that or a superpower--you get to decide. Some people think that this is a fantastic idea. Why all you have to do is digitally wrap physical gold ounces inside digital bitcoins and upload them to the blockchain where everything is safe, secure, and encrypted, amirite?
Nope, the same (G)old rules apply. He who hodles the gold makes the rules, and iffin one day they decide to break the tether, remove the peg, or disappear the gold, then they'll do the damn thing, and they'll do it heartlessly. The UNITED STATES corporation did it with EO 6102. They instantly criminalized anyone in possession of gold after an arbitrary date (Mayday!, Mayday!, Mayday!) under penalty of a $10,000 fine or ten years imprisonment or both.
Now I know that some of you crypto kids have a lot of faith in cryptocurrency and disdain for gold. The truth of the matter is, this isn't an either-or situation. And one shouldn't have any hatred towards gold. Gold is a commodity that will always have an intrinsic store of value. Crypto has captured the faith in people worldwide who want to DeFi the central banksters and stick it to the man, and that's all well and good.
The obvious conclusion to this neverending attack of the clones is that the best new cryptos have to have a niche or utility so that people will invest their faith in it, and where a wo/man's faith goes, so goes the wallet. It should be clear to everyone by now that the one crypto to rule them all will be a gold-backed one. In this way, you metaphorically add intrinsic value to a faith-based asset. The Kwisatz Haderach of current-sea evolution, if you will.
You can feel the force all around us, it ebbs, and it flows. A variety of crypto is the spice of life. You put it into a cup, and it becomes the cup. You turn it into a fist, and it smashes the banks! After all the dust has settled, there is an inevitable rise of powers. They will fill the vacuum left by the fallen, and the cycle repeats. One can only hope that we're on the cusp of a golden age.
But I will tell you this: If China or any other government, save for perhaps Switzerland, is in charge of hodling the backed value, it cannot be trusted indefinitely. I think that'll be the biggest challenge with the fusion of gold and crypto.
As for anyone born into the crypto era or reading this many years from now, I will post a couple of educational videos to help you gain a solid understanding of the history of money. If it's 2029 and your attention span is where I think it is: Watch the cartoon and pace yourself. Trust me when I say that Striking Vipers will still be there after Charlie Chaplin UN-Nazis the world.
VIDEO: YouTube.com/c/SamyElGhoul/videos
VIDEO: YouTube.com/user/e33State/videos
China is being favorable towards BTC because their dev team is controlled by Bilderberg, most of the hash power for mining is in China(due to cheap electricity), it's centralized IN CHINA.
I wrote a BTC is a scam post the other day about Bilderberg if you wanna check it out. 100+ links in the one reddit link.
I will check that out. The one problem is that regardless of who controls BTC, the crypto genie is out of the bottle, people will want to obtain it, or other cryptos, to protect the value of their money while the paper fiat steadily collapses. Even if it's a con, because its control is centralized, the shining value of the coin will draw people in like barracudas. It's like Sun's chain. He centralized the thing, everyone knows it, but the fact remains that it somehow retains value. The big question we might need to ask is how realistic is indefinite decentralization when we know it's the nature of power to ebb, flow, and often accumulate into the hands of the few. I get the idea of protecting the ideal, but what if the ideal is unrealistic? What if it's like wanting to end war, fantastic in theory, but likely not gonna happen? Do we resign ourselves to the nature of reality, or do we continue to try and make the impossible happen? What sort of damage do you see them doing with the Dev team you mentioned? If they do anything to shake faith in the BTC, won't it simply lead to more splits and an eventual loss of faith in the coin? Even if they do have some control, isn't it better to be on a deflationary model instead of a hyperinflationary one? Isn't a deflationary model kind of like an undo fix to deal with hyperinflation?
It retains value because people are under the misconception that ONLY decentralized things should have value. People are going hard into centralized crypto, more so than decentralized crypto(as evidenced by bitcoin and other centralized coins).
The great awakening is not happening, it's more idiots using centralized money to buy centralized crypto.
I don't think it's too late in the game just yet. We're still at the infant stages of revolutionary currency ideas. Once a privacy-centric one gets perfected, I could see a lot of people opting into that. The market's just trying to figure it out yet, consensus will happen, and I think the people will eventually settle on the wisest coin available to be the new leader in the crypto space. But there is plenty of room for many different kinds of crypto. It'll take time for it all to play out. When people get over the fad of rising and falling crypto, they'll eventually get off the rollercoaster and start to examine the various coins based on their merit.
The main problem is MSM has framed cryptocurrency badly, govt has control over 70% to 80% of all of the cryptocurrency coins out there(whether it is the BTC dev team being owned by the NWO Bilderberg, China owning 75%+ of BTC miners, etc).
More and more people are funneling into centralized crypto, BELIEVING they are joining the decentralized movement. They are not THINKING, they are BELIEVING and FOLLOWING. So just realize that most of these crypto prices are fueled by sheep buying what they think is decentralization, but in reality isn't.
You give sheep more credit than I do. I think they are looking at it more like stocks and a money-making opportunity. They heard about people getting rich from BTC, and they want that too. They probably don't know much about the coin or the concept of decentralization. But I wonder, in an open market, where the wealthy can buy as much of anything they want. What is to stop them from amassing large amounts of whatever they think will be successful? I guess what I'm asking is: Is the decentralization of a finite item on an open marketplace a pipedream? We know full well that the rich and their various organizations and institutions can use their vast wealth to amass infinite quantities of whatever. Just wait until the Fed starts buying BTC—that'll be a real hoot (if they're not already). I think the map is not the territory when it comes to decentralization. I mean, it's nice in theory; But whenever a certain popularity level is unlocked, the market for the item becomes subject to forces that either covet or desire to control it. If it never became popular, then Bilderberg, China, and the NWO would want nothing to do with it. If it never became popular, it wouldn't have much value. That means the rest of crypto wouldn't either. I say this because all of the cryptos seem inextricably connected to the health of BTC.
i wish BTC would just go away at this point lol.
On the topic of this conversation, and big up to Kenny for this info. Check out Pirate.black. It is trending 366.7% in the last seven days. I don't know if this is "the one" or if there will ever be just one. That said, it looks like one of the good ones!
Yes, prediculation is a word now, and you can mark my words because I predonked this many beers ago.