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Triggers of Economic Crisis: Crypto Can Save Us

By Keegan Francis | Go Full Crypto | 24 Aug 2020

Most economic crises are caused more or less the same thing. Supply and Demand. Too much supply of debt, not enough demand. Too much demand for repayment of debt, not enough supply of money. Too much physical cash, not enough demand to sustain its value. In each case, the outcome is more or less the same, a small group of individuals in charge of the central banks or federal reserve get in a room and decide which parameter of the economy to tweak. Print more money, or raise or lower the interest rates. In the case of 2008 and the 2020 covid crash, the solution was to print more money. Ultimately this leads to the inflation of the money supply, and the tax payers pay that bill.

How Can Cryptocurrency Save Us From Economic Crisis?

Cryptocurrencies are built with the idea in mind that humans are imperfect. Regardless of whether or not the administrators of our financial system have the best intentions, they will inevitably end up making a mistake, leading to unintended side effects. Whether that is hyperinflation, or the overextension of credit to consumers, or both. Cryptocurrency can remove some of the human interaction from our economic systems, and allow us to work inside a more closed set of parameters. Take bitcoin for example. There are only 21 million bitcoin, and a supply that gradually leaks into circulation. These rigid parameters force us to work inside the paradigm, rather than print more bitcoin at will to solve our issues. The printing of money in both 2008 and 2020 is a bit like passing the buck to the future generations. This will eventually lead us into a bigger and bigger financial crisis down the road. Cryptocurrency is the exit strategy for anyone not wishing to experience hyperinflation or the collapse of their national currency. (See Lebanon, Zimbabwe, Venezuela).

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Episode 8 of Go Full Crypto

In Episode 8 of the Go Full Crypto PodcastMrugakshee and I (Keegan) talk about some of the fundamental concepts that we believe underly financial literacy.

The Go Full Crypto Vision

We want to help people opt-into the world of cryptocurrency, one dollar at a time. In order to do this, people must need a reason. They need their own "why" behind discarding their government currency for the world currency of the future. Go Full Crypto is putting out content to help people discover the reason why they want to get involved in cryptocurrency.

Download Episode 8 of Go Full Crypto - Triggers of Economic Crises

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Keegan Francis
Keegan Francis

I am the owner of Atlantic Blockchain Company. We help onboard people into the world of cryptocurrency. We have a podcast called Go Full Crypto. The podcast tells the journey of how my wife and I are opting out of the traditional banking system.

Go Full Crypto
Go Full Crypto

Go Full Crypto means completely embracing the world of cryptocurrency. To go full crypto is to opt-out of the traditional financial system, and live completely in the world of cryptocurrency. Go Full Crypto is a podcast, blog, and business that offers cryptocurrency onboarding services.

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