The Future Calls for Honest Money

The Future Calls for Honest Money

By CloudCoin | CloudCoinConsortium | 19 May 2020


The Future Calls for Honest Money

Digital currency was born against the backdrop of the fiat currency monopoly that nation states use against their own citizens. The bitcoin Genesis Block in January 2009, had a message referencing the bank bailouts of that time. The United States government has recently infused over $2.4 trillion into the US economy and is promising more. As of May 11, the US debt exceeds $25 trillion dollars and is 117% of GDP. The future of the dollar will almost certainly be an inflationary roller coaster as the quantity of dollars increases more and more quickly.    

From the beginning, digital currency promised a future of money which was neither controlled by the state nor inflationary. A currency with a static supply maintains its integrity and cannot be debased by a central bank. Such currencies, like the US Dollar in the 19 thcentury, are deflationary. The currency’s value goes up over time as more and more people want to use, earn, and save it.  

The bitcoin halving has gotten a lot of people excited and talking. The halving is the time when the block rewards are cut in half in order to slow the creation of new coins.There has been wild speculation that the halving would set bitcoin on a meteoric rise to $100K, or $250K. The bitcoin maximalists seem to have unlimited faith in the future of their chosen coin. Of course, this meteoric rise has yet to show itself, and bitcoin remains well below its historic high. The recent halving reduced the block reward from 12.5 BTC to 6.25 BTC. How will this affect the economics of bitcoin mining? If the price of bitcoin cannot establish a new price floor at least at $9,000, will mining farms consider shutting down? They do, after all, want to turn a profit.  

The best estimations are that the last bitcoins will likely be mined around the year 2140 and there will only ever be 21 million bitcoins. At the present, 18.5 million have already been mined. CloudCoin is on a much faster schedule to get all coins into circulation. As of May 2020, 928,304,333 CloudCoins have entered circulation. That is 65% of the total 1,428,160,512 that will exist in February 2022. After that, there will be no more CloudCoins entering circulation.  

This current economic crisis is not just a downturn in the economy. The worldwide shutdown prompted by the Corona Virus Crisis is bringing to a head the largest sovereign debt crisis in history. The sovereign debt crisis is worldwide and a making of bad economic theory, namely Keynesianism, and an unwillingness of government leaders and central bankers to accept that the world economic order they want to protect is a fraud. It is a fraud in which dishonest governments use dishonest money to mortgage the future, in order to buy political power in the present.  

When the monetary hegemony of the US dollar comes to an end people will look for an honest currency, one independent of state interference and the games central bankers play. CloudCoin is ready to fill that need.

By Vincent Puccio , CloudCoin Consortium Member

 


CloudCoin
CloudCoin

Our mission is to provide a "perfect" global currency that cannot be counterfeited, double-spent, mined or lost, is 100% private, requires no public ledgers, accounts, or even encryption; a monetary system that is fair.


CloudCoinConsortium
CloudCoinConsortium

The CloudCoin Consortium is a group of businesses and individuals around the world who are interested in seeing CloudCoin be successful. The CloudCoin Consortium is not a legal entity. It has no bank accounts. It has no headquarters. The consortium is a Libertarian organization who are very interested in Freedom. The Consortium was a Platinum Sponsor at Freedom Fest in Las Vegas in 2018.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.