The Politicians Are Showing You The Dollar Is Worthles

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Hey Jessavers

I am writing this post on my phone since we are 9 hours into no electricity and they say it will be like this for 2 days. This is what it’s like when the government provides services you are a slave to their decisions and processes.

I often have arguments with people around the value of Bitcoin. Most people still see it as a speculative asset where you can be rich today and lose all your money tomorrow! Does it have that possibility?

Yes so does every form of money, fiat money can hyperinflate, metals can be made illegal by government, stocks can become worthless overnight from company fraud, bonds can be rendered worthless as governments and corporations default on debt

Your home can be damaged or confiscated, everything of value we have in this world can technically go to zero! But we don’t think about it, we want to apply one rule set to Bitcoin and another rule set to other assets.

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Fiat money is mass delusion

Government money only has value because we believe it and we are forced to use it by law. We were prisoners in fiat until Bitcoin came around and it’s exposing the fraud for what it is!

Yes Bitcoin is magical internet money that we expend value in electricity and computational power to acquire, yes it’s a bit of a game! But even so it is far better than the money that can be created literally out of thin air.

Bitcoin forces you to either supply resources to acquire or have to do work or handover cash to acquire. There is no welfare, there is no stimmy cheques, there is no loans without any money down, there is no airdrops, there is no premine, only hard work and you have to contribute to be part of the Bitcoin economy.

Money needs effort to be created

Currency is meant to represent value but if it costs nothing to create that representation then everything can be manipulated by those who can create that representation.

Bitcoin with proof of work is the only currency around apart from precious metals that can provide this solution. Alt coins don’t do this, proof of stake is no different from the fiat system and many of these other coins have huge premines sitting with developers.

This has been seen as normal but to me taints the project, it shouldn’t have to need premines and ICOs and VC funding, which Bitcoin never had. If w project is decentralised why are funds being centralized? To me that’s a totalitarian creep, which means things can be changed to favour others.

The whole point of Bitcoin comes from the fact that no single person or team can change it. To remove the human element of collusion and need to get something for nothing.

Signs of loss of confidence

Loss of confidence in a currency doesn’t start from the bottom, it starts from the top. We all have been designed to accept inflation as part of life and those at the top get to enjoy the best of that inflation. As they continue to suck money from savers they become poorer and more reliant on the state.

It’s got a point now where governments are sending out more and more free money just to keep people from rioting in the streets. A 300 here, a 600 there a 2000 everywhere. It’s gotten to a point where people expect or demand it now and this won’t go away, the cats out of the bag.

To me it just shows how worthless fiat is if you’re able to send it around to anyone without effort.

Each day that goes by I feel like Bitcoin becomes harder and becomes the anti-fiat. Everything they do now only serves to supercharge Bitcoin and now we seeing more desperate attempts to FUD it.

Why do you think governments aren’t FUD’ing Ethereum or any of these other coins? Because these coins can be controlled, they can be censored, they can be bought out and manipulated, they can be attacked and shut down so governments don’t need to bother with them, they are not a threat.

Bitcoin is the only threat and that’s why it gets all of the FUD from those who benefit from the current fiat system.

Have your say

What do you good people of HIVE think?

So have at it my Jessies! If you don't have something to comment, "I am a Jessie."

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14 comments
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I actually saw a really awesome infographic the other day that talked about many of the big tokens right now and what their initial token allocations look like. I think you can find it here. It is really interesting. Dang, two days without power! Hopefully you have a solar charger for your phone!

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Thanks for the graph yeah that's what I've been saying a lot of these coins aren't there to anything but enrich insiders and founders, pretty much fiat with extra steps

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Yeah, no problem. Like I said, I found it really intersting.

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I agree, I have to admit the more I learn about all these altcoins the more I'm turned off by them! I am happy to grab their tokens and burn them for Bitcoin though lol

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I for one am happy to take those worthless dollars off the hands of anyone that doesn't want them :)

Bitcoin gets the most FUD because it is the most well known. If a government wanted to take out bitcoin I believe it could. A 51% attack would be possible by throwing a huge amount of computer power into mining in combination with sabotaging some of the largest farms.

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Even if they tried to 51% attack with a massive co-ordinated mining farm that would cost billions to create, or even take over mining operations the nodes would reject any of those blocks and focus on mining farms that do farm the blocks we all agree on

It will be really expensive waste of time, as for other chains, like ETH it can be taken down most of it is run on AWS anyway these chains aren't decentralized

By all means mate, grab those dollars that's your right I jusy don't want anything to do with them if I get one I turn it into Bitcoin

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I personally think the FUD is only to drive prices down but I disagree with you on BTC being the only thing that can't be controlled. I think the only thing that they can't control is the hashing rate of BTC because they can just accumulate BTC. Because BTC is a deflationary asset, it is zero damage to fiat currency because it is similar to gold.

If gold wasn't threatening the dollar, why do you think BTC would? I think the biggest reason is because they don't like the crypto space and they want to hit it a few times to turn people away from crypto.

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How is it not a threat to the dollar? The dollar is hyperinflating against Bitcoin for its 44k in 12 years, and we're not even at the beginning of this; as peoole move to a Bitcoin standard you get onto the benefits of deflation which cannot be stopped even if BTC didn't exist so it's supercharged already by the improvement in productivity we have each day

I think it's hard for peoole to understand deflation and exponential growth

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My point of view is more towards fiat terms. BTC is obviously going up but that is more in relationship to the view of it being digital gold. The reason why in my opinion is because of its deflationary aspects. So all the governments have to do is spend some fiat and they can load up on BTC.

Which means from their point of view, BTC can't act as the world's reserve currency. So BTC is not a threat in my point of view for other fiat currencies. BTC has been out for so long and people still use fiat. I don't see many people come out in society and say they will buy items normally using BTC.

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How is 12 years a long time? That isn't even 1 generation! You can't expect a radical world changing shift In the space of a decade? The internet 10 years I was still dog shit it's only recently that it's started to make it's real impact on the world

Yea they can load up on BTC but spending fiat but that only enriches all BTC holders in the process it's a threat because as you feed it you dilute your fiat power as you can't bring down others purchasing by Aquisition of more BTC

You're view could be right but I can't see how this network effect isn't disruptive as long as it remains decentralised by the nodes! The nodes are the keys to Bitcoin

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Yes the nodes are the key in BTC but the dollar is the worlds reserve currency. Until I see Europe and a few other nation's currency burning, I don't think the dollar is going away. Why? Because everyone will flock the dollar when things come crashing.

Can it get devalued? Yes it can and its also why I said BTC can be a good store of wealth. But technology is deflationary so there are a bunch of different things affecting the value of USD. So in short, I do think BTC will go up but its not as easy to simplify terms. The current economic structure does show that the dollar is losing more value than tech is affecting it though right now.

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Point made. Bitcoin has the capacity to fall as much as any other fiat but i hear people clamouring that bitcoin is trash. The truth is that the population is ignorant and thats the problem

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That's fine, they will have to deal with the consequences of dismissing it and no ones feelings is going to stop where this is going!

The way I see it is once Bitcoin totally breaks out in the next 2 Halvings it starts to break busines models and expose these alt coin scams as with time people focus on the money with the best properties

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If you hadn't noticed that you wrote the post from Hany... it's really strange that you didn't have electricity again... I'm also losing more and more trust in fiat currencies... Even DOGE seems much more valuable to me lol

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