A simple crypto rule to live by: any token or exchange that has a CEO, identifiable individual or development team associated with it is not real crypto; it's the antithesis of crypto.
Note that the first block of text in the Revolver story, starting with "Just days ago..." and ending with "...calls you out:", is duplicated in the middle of the post.
Bravo! This article prompted me to upgrade and I'm not even into crypto. I was considering it though.
“Until you change how money works, you change nothing." RIP Michael C. Ruppert
So, finally, we may yet see the real change that the world needs. And I'm not telling about cbdc's. Money as we know it will be radically transformed. Why? Because wealthy people will finally be joining the ranks of the rest of us and may finally understand the connection between control of one's own resources and freedom. They may, we hope, recognize how power resides in the people who will already be fighting against the oligarchs who will be defenceless against these freedom fighters.
Fiat issued by a private central bank is the antithesis of freedom.
A parallel economy outside the legacy banking/gov system comprised of crypto, physical assets and barter is the solution. Decentralization defeats centralization.
We can't solve our problems with the same thinking that created them.
How stable, non-centralized asset-backed money CAN be re-invented described in great detail. See moneyasdebt.net
The author wrote: "For this reason, crypto experts tell Revolver that “true-believers” in crypto often turn a blind eye to the dark and damning questions surrounding Tether due to the implications this would have on the entire crypto project."
The whole world, due to its fundamental ignorance of what conventional money is, fails to understand that ALL speculative crypto is "fake money creation". It is theft for the same reason counterfeiting $100 bills is theft.
The simple and unavoidable truth is that such cryptocurrencies lay their claims on limited real world production in with the claims in conventional money of those who actually produced it. This is dividing the same pie into more pieces, the fifth piece being unearned, i.e. stolen.
So what if Tether was just about to implode with all the usual suspects deeply entrenched, the US government then decides to bail it out by nationalising it. That would legitimise it and it could continue printing coins ad infinitum all under Federal control. 1 Tether = 1 Fiat USD, and nobody needs to be any the wiser. The ponzi continues.
yes this is a very good point that all people need to act on. It has been long known that exchanges and coins were going to fail and not having assets in your possession is unacceptable/very risky. Ultimately, I believe if they don't crush crypto entirely, coins with utility and also tied to rewards and entertainment may have the best chance of holding value.
"This know also, that in the last days perilous times shall come; for men shall be lovers of their own selves; covetous, boasters, proud, blasphemers; despisers of those that are good, and lovers of pleasures more than lovers of God."
Apologies for all of the typos. They have been edited. (It seems an older draft was published instead of the edited final version.)
Note that the first block of text in the Revolver story, starting with "Just days ago..." and ending with "...calls you out:", is duplicated in the middle of the post.
Thanks John. Something went really wrong with this post. Apologies. I just corrected it.
I think we are seeing FTX is just the tip of the iceberg.
WOW!! It all makes sense, fits together brilliantly.
Bravo! This article prompted me to upgrade and I'm not even into crypto. I was considering it though.
“Until you change how money works, you change nothing." RIP Michael C. Ruppert
So, finally, we may yet see the real change that the world needs. And I'm not telling about cbdc's. Money as we know it will be radically transformed. Why? Because wealthy people will finally be joining the ranks of the rest of us and may finally understand the connection between control of one's own resources and freedom. They may, we hope, recognize how power resides in the people who will already be fighting against the oligarchs who will be defenceless against these freedom fighters.
What a time to be alive!
Thank you.
Fiat issued by a private central bank is the antithesis of freedom.
A parallel economy outside the legacy banking/gov system comprised of crypto, physical assets and barter is the solution. Decentralization defeats centralization.
We can't solve our problems with the same thinking that created them.
How stable, non-centralized asset-backed money CAN be re-invented described in great detail. See moneyasdebt.net
The author wrote: "For this reason, crypto experts tell Revolver that “true-believers” in crypto often turn a blind eye to the dark and damning questions surrounding Tether due to the implications this would have on the entire crypto project."
The whole world, due to its fundamental ignorance of what conventional money is, fails to understand that ALL speculative crypto is "fake money creation". It is theft for the same reason counterfeiting $100 bills is theft.
Bitcoin and all such cryptocurrencies are theft
http://paulgrignon.netfirms.com/MoneyasDebt/2019/cryptocounterfeit.pdf
The simple and unavoidable truth is that such cryptocurrencies lay their claims on limited real world production in with the claims in conventional money of those who actually produced it. This is dividing the same pie into more pieces, the fifth piece being unearned, i.e. stolen.
Yes!
Over Here, we don't believe "wunderkind" We think "blunderkind"...
Scam and a half.
My head is spinning... I hope there isn't going to be a test on this.
So what if Tether was just about to implode with all the usual suspects deeply entrenched, the US government then decides to bail it out by nationalising it. That would legitimise it and it could continue printing coins ad infinitum all under Federal control. 1 Tether = 1 Fiat USD, and nobody needs to be any the wiser. The ponzi continues.
Wow. Great research! Tx
yes this is a very good point that all people need to act on. It has been long known that exchanges and coins were going to fail and not having assets in your possession is unacceptable/very risky. Ultimately, I believe if they don't crush crypto entirely, coins with utility and also tied to rewards and entertainment may have the best chance of holding value.
"This know also, that in the last days perilous times shall come; for men shall be lovers of their own selves; covetous, boasters, proud, blasphemers; despisers of those that are good, and lovers of pleasures more than lovers of God."