To: TEXOKIE
Forgot about the cryptocurrency.
My gut says no to crypto, but again, not an expert, so curious what others know or think.
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I know what you mean. I did an exploration of this several days ago.
DJT, candidate, and Eric Trump tweeted something and there was a link to “@Q” - turns out that link is to a web site on which there is a conversation taking place about crypto currency and the issues about it which need to be resolved before such a currency should be put into place.
I found it quite interesting, and can see that whether we old geezers like it or not, because of the ubiquity of the internet, there WILL be a crypto currency in the future. My opinion is that POTUS and Eric were suggesting subtly that their supporters should consider looking at those issues and also consider participating in the discussion. At the very least, perhaps, to just be familiar with the various issues surrounding it.
On X22, I think he has made the point that the crypto currency we should go to is not one controlled by the Banksters, or any other elite, but that if applied and structured correctly, a crypto currency would be one of the most secure kinds of instruments for doing business that could be possible. But the ones which have been designed by the Derps - well of course, that would not be so good.
I have not studied the issue closely myself, so I agree that I would like to hear from other FReeQs.
The post I made was on this thread:
https://www.freerepublic.com/focus/f-chat/3725954/posts
Post 165
Following that was a bit of a discussion, as I recall.
I’ve been giving a bit more thought to the issue....
First of all, KitJ’s point (from the Bible) is apt: “Don’t store up your treasure on Earth where moth and rust do corrupt. Store up your treasures in Heaven.”
But as a practical matter, we need to have savings and we need to have a means of transacting business. The vast majority of us do, anyway.
IMO there is NO perfectly secure monetary system. They all have flaws, but some are far more flawed than others.
Paper money can burn. Coins can melt.
Gold and silver are not easily converted. When was the last time you bought a loaf of bread with gold? Also, if you buy/sell gold, there is a hefty premium.
Right now, most of us have something that in some ways is even less secure than paper money. We have bank balances and investment accounts and all sorts of things that we can’t hold in our hands. If I get a piece of paper every month that tells me how much money I have in the bank, how spendable is that? Only so long as the bank honors it and people will take my checks.
Crypto/blockchain has its own flaws. If that were adopted for currency, EMP warfare or maybe even unusual solar activity could disrupt the whole system. As both a plus and a minus, all transactions are essentially public and permanent. That’s a plus if you want to track the bribes that politicians are taking, but a minus when spammers and scammers can go after you based on too much public info.
My biggest takeaway from the X22 reports was that the banksters set things up to crash, leaving the average schmo (you and me) holding the bag. They cover up by creating “events” - like wars or other things we’re not allowed to discuss on FR.