Crypto Currencies Are Not Gold And Silver

By: Curtis Wayne 0 Comments   7/19/2017

Crypto currencies are stealing a lot of headlines this year for many reasons.  They have the potential to radically change the world, by changing the way money is managed and controlled.   

There are many interested ideas taking shape.  These ideas are challenging the power of nations to control their money.  In one sense, crypto currencies are a rebellion of the people against their central banks that rule over them by controlling their money.   

Here are a few pros and cons of crypto currencies;

 

Pros -

  1. No inflation, power to the people.  The people using the money control the money.
  2. Trust the technology.  No longer need to trust bankers and politicians corrupting money, creating inflation and debt.
  3. Global digital money, can be quickly used across nations.

Here is a video talking about the potential price of Bitcoin;

Bitcoin Prices could reach $500,000 by 2020

Cons -

  1. Crypto currencies are essentially software and software is not a good store of value because an infinite number of crypto coins and services (block chains) can be created; and it can be bought out by a bank or government.
  2. Crypto currencies are dependent on the Internet, power grid, and therefore fall under government nations controls.
  3. Corruption will still exist, creating a new group of people to trust with your money does not solve the problem of people becoming corrupt.  Software cannot fix the global moral decline.  Most likely, the most corrupt and most powerful people will eventually gain control of the most useful crypto currencies. 

Here is a video about why the crypto currencies are speculation, not currency;

Throughout history, Gold and Silver have been used to force governments to be honest about how they manage their currency.  Since 1971 the world has not been using a Gold backed currency, which has led to the greatest debts in recorded history.  

The demand for crypto currencies is a demand for honest money, which can only be done by a Gold backed currency.  The demand for crypto currencies is really a demand to return to Gold backed currency. 

Their is a battle underway to take control of the world currencies. The bankers are going to do everything they can to take control of these new digital currencies in order to maintain their power. 

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