Welcome readers to the Bitcoin Revolution. I heard of the word but never had a clue what Bitcoin meant till I did the research to write this article. Physical dollars from the Federal Reserve are passe. The digital world after completely revamping music and movies is revolutionizing money. It’s something our forefathers would have done if they were in our place.
Take a look at our paper money. At the top of the bill you will see the words, Federal Reserve Note. This paper is printed for the Federal Reserve and is the property of the Federal Reserve. As of ’71, the dollar was no longer backed by a gold standard. Paper money became know as “fiat currency.” Its only intrinsic value is the federal government’s word that it’s actually “real” currency.
Months ago, Renovating Your Mind found out that the federal government is not part of the Federal Reserve. The Reserve is an entity in and of itself with no “real” check and balances. Of course, ask almost anyone in politics and they will rhetorically tell you otherwise.
The president nominates the chairman of the Federal Reserve. Everything else that goes on in the Fed is dictated by the banks throughout the country and the rest of the world. Then bankers control politicians and taxpayers are told what they better do or else. If we buck the system, they take away our property, we are forced into court and put into jail. Innocent until proven guilty, not.
The Federal Reserve are legal forgers. If we printed our own money we would go to prison. The Federal Reserve prints fake money daily to buy bonds from banks. These banks then utilize the money to make loans which keeps the interest rates low. It’s a Ponzi scheme of the highest level. The Feds are a monetary predator holding us as slaves to the taxes we pay to them. The money doesn’t even come close to paying off the interest on the national debt. Feds continue to dilute the money supply making dollars worth less and less. Eventually inflation will make those dollars backed by blind faith quite a challenge to use as a U.S. currency.
Our monetary system is no longer working out well for taxpayers in the U.S. We have our paychecks reduced significantly by taxes.
Unemployment is rampant throughout the country. Jobs, when they are available, are low paying. Our taxes are also supporting many of corporate America’s employees because these people and their families are paid poverty wages. Companies like Wal-Mart, McDonald’s, Kmart, etc. pay low wages with piss-pour benefit packages. These are full-time associates that have working spouses with the same crappy wages. Now with Obama care, these low wages may drop even further because employers don’t want to pay more for medical. Therefore all these millions of full-time employees will be cut back hours to part-time. Problem solved because employers no longer have to pay for medical benefits. Again, American taxpayers will have to step up to the plate and go more into debt.
This is where Bitcoins come in to the picture. Online merchants have already start accepting Bitcoins in addition to PayPal and credit cards.
This type of digital currency came on the market towards the end of 2009. At its introduction it was worth fractions of a penny per coin. In 5/13 it was valued at $96 plus per coin. This type of money cannot be tracked by anyone. Each transaction done over the net has no personal information linked to it. It is safe and can be transmitted for exchange over your smartphone or computer.
Bitcoins takes middleman like Visa, Discover, American Express, etc. out of the loop saving you 3% or more if you are a vender. When the money is submitted for the transaction, fees are pennies. This form of monetary exchange doesn’t involve the government or Federal Reserve so inflation isn’t a problem. This currency has become an investment that has gone up substantially since its debut. This increase in value encourages lending rather than borrowing.
Our dollar hasn’t appreciated since the late 1800’s. The American dollar has been dropping in value since the early part of the 20th century. It has taken a real dive in value over the last 10 years.
In addition, no matter what part for of the world you are in, Bitcoins are a common denominator. No more exchanging one currency for another to make the transaction work. Everything is simplified. Bitcoins cannot be illegally duplicated. Their value is based on supply and demand.
Bitcoin is limited to a cap of 21 million coins. Right now there are 11 million in circulation. As more Bitcoins become available they will be more and more difficult to earn. This will drive up their value.
Since our dollar is a now only a faith-based currency the value of our money rests on the federal government. A government that people no longer trust to do the right thing. Obamacare will be the ultimate test in how far we are going to let elected officials, corporate America and bankers control our lives. Hopefully this program will work. If it doesn’t, Bitcoin will become even more of a monetary force to help stabilize our financial lives.
Banks are only buildings. Governments are only structures. If we lose our faith and stop backing whoever is in these structures, their power is lost. We can take back control for our own lives from people who currently dictate what we can and can’t do in our free democratic society. Whenever true marketplace takes the place of government control, the system reboots and normalizes in a stable system for all.