Cryptocurrency Goal Should Be To Eliminate Banks

about 2 years ago

We discuss banking a lot. There is a good reason for it. This is the industry, both domestic and internationally, that runs everything. Bankers are more powerful than governments. They also tend to be exempt from prosecution. When it comes to enslaving of humanity, few are as efficient at this as bankers.

This is not a hit piece on the banking industry. Instead, this is meant to help us to understand how things operate and why it is imperative for us to create a completely new system.

Bankers run the world.

I am sure this is something most heard in their lives. The reason this is so stems from the fact they are at the heart of all financial matters. Over the decades, in most countries, they established a strong system which heavily favors them. Through their lobbying (bribery?) efforts, laws were constructed which puts them at the heart of much that is done. Of course, for this "service" they take a cut.

Banks are the epitome of "intermediaries". When it comes to middlemen, they take the cake. A banking institution is going to be involved in most anything that takes place. Think about that for a second. All that goes on, a bank somewhere is getting a cut. Naturally, the term bank is being used to cover their financial brethren.

Challenging the banks is a vital part of pushing humanity down the path of freedom.

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Making Banks Into Newspapers

The Internet did a job on the information purveyors. There was a time where the newspapers had a lot of power in the United States (and around the world). This all changed with the introduction of this new medium.

While we still see newspapers around a number of decades later, they do not wield the same influence they once did. To start, there are a lot less of them. Throughout the early 2000s, the industry consolidated while witnessing a large number of bankruptcies. The ones that have followings today are most due to demographics. The older generations still get their "news" from those sources. Newer generations do not care.

We will likely see thin take place with the banking industry. We know that cryptocurrency is not exactly filled with Boomers. In fact, Gen X is not the target market either. It is really the Millennial age bracket that starts to embrace this. After all, they were the ones who grew up with the Internet, hence accepting Internet money is not a big leap.

This means that we are going to have banks for a number of years to come. They are not going to disappear. While there are still the large number of Boomers still around, banks will have customers. The same is true for much of the financial industry.

That said, the goal is to eliminate banks and all the associated control. For this to happen, we should target the different aspects of banking that exist. It is going to be a war of attrition. Over time, their foundation will start to crumble.

Of course, we can expect blowback. Banks have a lot of control in the national governments. Much of what we see taking place is, likely, at the bequest of the banking and financial sectors. We have to be prepared for this.

Building A Rock Solid Foundation

We see a great deal of attention paid to Musk and Twitter. Suddenly, the national conversation around free speech is taking place. While this is an important matter, it is dwarfed by what the international banking system does. People need to realize when they have money in the bank, it is not theirs. The bank can do with it as it sees fit.

For example, many banks will not allow customers to buy cryptocurrency. Here are adults who earned their money legally and they are being denied the right to buy something that is not deemed illegal. Why? Simply because the bank says so.

Here is where we need to ensure what we build is outside the reach of any government or central bank. As we discuss regularly, there is a model to follow set up, conveniently, the international banking system. They operated for decades outside the reach of governments. This is what allows them to take them over.

Expansion is crucial. The ability to make our own money is something the bankers did. In fact, even the major currencies are in the hands of the commercial banking industry. It is they who determine whether the money supply expands or contracts. Naturally, this is the part of banking most understand. When we get into the international system, the sky is the limit in terms of what they can generate.

When we look at a blockchain like Hive, we have to understand the potential. We are effectively operating outside the system. This cannot be stressed enough. The on-chain stablecoin, Hive Backed Dollar, is also following this path. It is a very powerful starting point.

Ultimately, tens of trillions of dollars will be needed to overtake the power of the bankers. Here again, this will not happen overnight. It took decades for the banking system to get where it is. We are likely to see decades required to render it impotent.

Tokenization Of Everything

One of the biggest concepts we have to embrace is the tokenization of everything. It is the route to distribution. Money is not wealth but it does allow for the generation of it. This is how we need to approach it.

The game starts with getting the money distributed. After that, innovation and entrepreneurship takes over with people building. Over time, this increases the wealth available that can be leverage to, you guessed it, create more wealth. It is how economies grow.

Crypto-Networks should be thought of as economies. In the digital realm, they serve the same purpose as nations. to a great degree. The one major difference is we can operate, due to the advent of cryptocurrency, without the bankers. There is no need for the traditional intermediaries.

We are at the point of distribution. It is vital to get projects doling out tokens are incentive for whatever activity is applicable. One of the biggest factors that Hive has going for it is a means of distributing tokens for online activities. This is another point that cannot be overstressed.

As we tokenize everything, people will start to see their holdings grow. When we couple this with the network effect, it is easy to forecast how values will grow. This is the basis upon which we can start the process.

Of course, the infrastructure must be in place to achieve this end. That means when people are in need of the services, we have them available. It is why building is still the most important part.

Banking can be taken down. We just have to understand that focusing upon banking is not where the power is. In reality, the international system resembles a computer network more than a financial one. Once we grasp that, we can follow the path of developing a better one.

Cryptocurrency will be a success. To ensure that, we simply have to maintain the goal of eliminating the banks. That is the major power player in the world.

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