The so called "elites" are not elites anymore, mostly because their fraud it has been unveiled to humanity after 2009. They are trying desperately to gain back their elite status but unfortunately is to late for them, the wake up call has been set and nobody can and will ever stop it. The humans that relied on a system to increase their prosperity, or at least to gain some of it, are no longer relying on a fiat scam perpetuated for more then a few thousands of years, since ancient times until modern ones.
In this article I will be talking about the money, and I will explain first what money actually are, then I will explain the proof of work algorithm and correlation with money, and later "the great distraction".
For some hundreds of years the Money took a form of fiat (which means = let it be done, in Latin) and became more of a currency then money (paper currency). The properties of money are:
1) - Durability (or resistance for usage degradation, indestructible if possible)
2) - Portability (easy to carry)
3) - Recognizability (it is recognised by everyone to be authentic and not altered by a second party)
4) - Stability (to avoid inflation the money should have a constant supply)
Can you identify which properties of money have been lost due to issuance of paper "money"?
It's 1, 3 and 4.
One is because a paper "money" can be easily destroyed by liquids, fire or folding.
Three is because people are loosing trust in the currency (paper "money") that it can be a medium of exchange and the lost of trust that they can physically get the promised goods, commodities, securities or services etc.
And lastly, the forth property of paper "money" is lost due to inflation, because the paper money can be printed in unlimited quantities, indefinitely,
Money should be used as:
- Unit of Account - money are used as medium of exchange and it makes it possible to account for profits and losses.
- Store of Value - money will always have the same value no mater how much time will pass.
- Standard of Deferred Payment - it's a value of transferability usage over different time periods in the form of credits and debts.
The paper "money" are not a store of value anymore after 1971 when Richard Nixon "throw to the trash" the convertibility of dollars into gold. This convertibility was introduce in 1944 at the Bretton-Woods , where the biggest economies at that time, agreed upon a world reserve currency. That currency is or rather was, the United States Dollar and was pegged to 35 USD per 1 oz of Gold, or at least was for all other countries because in the US it was illegal to own gold since 1934 (Americans should blame Roosevelt for that) until 1974... talking about hypocrisy... These days is just a faith that you might get back some gold if you convert your USD...
The most useless currency that is implemented these days are the CBDCs (Central Bank Digital Currency) which is a digital currency, completely unrelated with crypto but build on some crypto blockchains like XRP, ALGO, XLM, etc. The CBDC's only purpose is ABSOLUTE CONTROL OVER THE POPULATION! There is no private ownership for it, they call the CBDC money but has absolutely NOTHING to do with money except being an ultra centralised bank's controlled currency. It also has ZERO store of value. Absolutely nobody can access the banks ledger because apparently they want privacy but not for individuals, how much more hypocritically nonsense can this be?
That said the Proof of Work crypto currencies could be included in finance as a new form of money. Many will argue that crypto's in general are not true form of money because money must be tangible. I will argue though that the crypto can be tangible only if you personally store the private digital key of your crypto. Yeah I know is not pure tangibility due to nonphysical form of the digital blockchain, but you do have an tangible form of access to the crypto, and that is hardware wallet or paper wallet.
The PoW algorithm has a higher security layer over the network, can be attacked if 51% of the miners joint fully agree to do so, but to do this kind of attack, it is necessary a tremendous amount of hashing power that must be obtained for the attack to succeed. To mine BTC for example these days you must have several ASICs, but you must wait for months or years to have a successful mining and be rewarded, and ONLY if the hashing rate drops significantly.
The PoW coins cannot be destroyed. As long as there is a single miner on the blockchain (like Satoshi was in the early BTC days) no coin can be destroyed. You might lose your keys but the coins will always be on the blockchain.
Another layer of security are the Full Nodes, that are implemented to approve transactions and to prevent 51% attacks, DoS attacks etc. These nodes can be run through any ordinary computer with very low specs and must be connected on the Internet. The PCs must have a complete or abbreviated copy of the Bitcoin blockchain. Absolutely anyone can implement a full node at home. It is a minimum requirement to run the PC at least 6 hours.
Other PoW blockchains use CPUs (Central Processing Unit) like Monero and Verus Coin or GPUs (Graphic Processing Unit) like Ravencoin, Ethereum Classic, Firo, Bitcoin Gold (this one is a Bitcoin Hard fork) & Bitcoin Z (this block chain is build from the ground up), Horizen, Vertcoin, Beam, Dogecoin (considered by many a shitcoin) etc, etc. Just be careful and DYOR before you start to mine any coin.
Who are the candidates for best PoW coins:
- Those that are mined with consumer grade hardware aka CPU/GPU. Ex: XMR, RVN, FIRO, ETC, BTG, BTCZ, VTC etc
- Those who have NO CENTRAL AUTHORITY (No CEO or board of directors) and the core programmers are community based only. Ex: XMR, RVN, FIRO, BTCZ etc.
- Those who are fully open source. Ex: XMR, RVN, FIRO etc
- Those who have no ICO, IPO, Premine or any other kind of free offerings for the developers or investors. Ex: XMR, RVN, BTCZ
- Those who have fork dropped coins like BCD, BTCP, BTG. Ex: XMR, RVN, BTCZ, VTC, KMD etc
- Check only those who have a true community mining. Ex: XMR, RVN, BTCZ, ETH soon only ETC only?, FIRO, BTG etc.
- Those who give you privacy. Ex: XMR, BTCZ, FIRO, ZEN, KMD etc.
Now, why and how PoW blockchains can save you and your family in the future?
A) A vast majority of the PoW coins can be mined at home. Some of the coins, like XMR, do not even need a to be mined by joining a mining pool in order to be successful.
B) You do not need to buy the coins in order to own them, just mine them, that's how simple it is. There are many easy to install mining software. By mining the coins you will not need to expose your private details to exchanges.
C) Absolute privacy, if you own a hardware wallet and/or if you mine a privacy coin.
I suppose that for many people after seeing these large amount of cryptocurrencies will make their heads spin, but do not worry at all about the details. Install a software like the one from betterhash.net or nicehash.com, deactivate the antivirus (their type of software do not have any malware still all PoW coins are detected by antivirus as being infected, but they are truly NOT). Seriously, just start to mine and later you will understand, day by day, why some coins are good to mine and why aren't.
So what is a distraction you might ask? Well, there are many scams out there, many rug pulls and dead projects. Some cryptos keep "improving" but losing the true purpose of it's own creation, decentralise finance.
ABSOLUTELY ALL PROOF OF STAKE CRYPTOCURRENCIES ARE CENTRALISED OR WILL BE CENTRALISED SOONER OR LATER!
In order to stake something you must buy the thing and not create it by your own, though mining. There are several white papers that intentionally confuse the readers that validation is equal to mining which is absurd. The miners are making an overwhelming computation and consume a lot of energy for that matter unlike the validator that is a "spectator" who approves transactions. Oh yeah, there is also the energy consumption argument. The simple answer to that is: So what? Yeah answering with a question is the best answer... :D No, seriously now, as long as you use your own computer to do some stuff on it, or let it just idling, why not mining with it? You might be surprised that a portion of the money that you spent on it, can return back into your pockets.
Many will argue that the validators create the coins, but.. aaam... wait, how did the validators became validators in first place? Well there are two ways: either they bought at a discounted price or received the coins for free. So what's the big deal, you might ask?
THE LATER BUYERS/INVESTORS HAVE THE GREATEST DISADVANTAGE AGAINST ALL THE "EARLY" DEVELOPERS/INVESTORS/BELIEVERS, BECAUSE THEY (the late investors/buyers) MUST PAY AND NOT GET THE COINS FOR FREE OR AT A DISCOUNTED PRICE.
To me, this sounds more like a pyramidal scheme or a Ponzi scheme, isn't it? Sounds more like the paper "money" we had for such a long period of time or like the digital "money" we have today...
There are so many other things to say about this distraction but I believe that you can figure it out by yourselves if you will do your own research and truly analyse the reasons behind any project. Please, do not get fooled by the appearances and/or by fancy advertisings. Investigation in a project will make you and your family be on the safe side, when the economy will totally collapse. It's already begun!
Stay safe guys, and stay with crypto and it's knowledge.
