Since the day you started earning a living, money has been stolen from your pockets without you even noticing. For every single one of your work years, inflation has decreased your purchasing power. The amount of purchasing power lost, is the hidden tax outside of what is already coming out of your paycheck for federal, state and sometimes local taxes. Inflation lowers your purchasing power by making the costs of goods and services more expensive.
Today, the US government is stating that inflation is too high, at 8.6%. To see the true inflation rate as measured with the “more honest” CPI (Consumer Price Index) rather than the CP Lie manipulated by the government, please see John William’s excellent platform:
Shadowstats.com
When the government tells us what percentage inflation is, at least double it. That will give you a more realistic depiction of the true theft of our currency. We trade our finite time for currency at our job. If this currency is being inflated, our actual time working is being stolen from us in the form of highly elevated prices.
It all comes down to trust. Citizens in the US and other countries are growing frustrated with governments and how they are lowering the quality of our lives by controlling and destroying the monetary system. And that’s where Bitcoin comes in! Trusting the financial system again by using Bitcoin to become our own banks. Lending, borrowing, saving and investing in a technology that gives trust with zero inflation. Not trusting the governments to be financially responsible because they won’t!
The main reason for the creation of Bitcoin was to give the public an alternative currency from the dollar. GFC of 2008-9 (Great Financial Crisis) was actually caused outside the United States, with a seizing up of the international monetary plumbing. “Trust” was lost in international money loaning systems and the entire world’s various currencies were about to crash and burn. Although that is a different blog post for a different day. Bottom line is that what the Federal Reserve told us per Chair Ben Bernake on how the GFC was caused was complete hogwash. Trust in our financial system totally broke down in 2009. Since then, monetary processes have been put on life support. This been treated by the Federal Reserve with extremely low interest rates and the digitalization of trillions of dollars in the form of what the Federal Reserve calls QE (Quantative Easing). QE would put you and I in a federal prison after a government conviction for counterfeiting. For the Federal Government, it’s the legal counterfeiting of currency where every dollar counterfeited dilutes your dollars purchasing power to yield goods and services.
Positivity came out of the electronic shadows, through the internet, from a gentleman named Satoshi Nakamoto. He (or possibly she or they) published a white paper in 2009 describing Bitcoin and its specifics. To this day, we have no idea who Mr. Nakamoto is, because he just disappeared. Satoshi had never been seen in person, only through e-mails. Mr. Nakamoto may actually have been an alias for a group of experts versed in digital encryption. Or it may be our government, in conjunction with other governments creating a diversion from the fiat dollar, knowing we will eventually have a currency reset. In this way, they would have a back door on the digital currency. That possibility, is way down the rabbit hole, although in life, anything is possible, especially if something involves our sometimes mysterious government.
The market for Bitcoin was slow at first with very low prices at a fraction of a U.S. penny. Since then, the price which was just $0.08 in 2010 has gone up to almost $69,000 a coin which is currently its lifetime high. Now, with the bearing of the stock markets, Bitcoin has been correlated with NASDQ which has sold off in recent months. So its low has come about, just recently, over a 52 week period with $17, 586.32. And the majority of the rest of the digital currencies have floated down as well in price.
As of March 2022, there were over 18,000 different cryptocurrencies. Eventually, just like the internet dot.com bubble of 2000, 99% of those currencies will be forgotten just like pets.com, webvan.com, boo.com, etc. We also have to remember that companies like Amazon went down as well and crashed in price. It was $2.76 in April 2000. So how do you separate the chaff from the wheat?
The more that you can research and dig deep in crypto. pit of information, the more you see advantages that some currencies have over another.
I was looking for a currency that’s robust and able to handle thousands of connections concurrently with a technology topper security. I needed a form of exchange where any viable cryptocurrency (Bitcoin, XLM, XRP, etc.) could be exchanged with another or that of any fiat currency (dollar, yen, euro, etc.) Doing all this in seconds, for 24 hours a day and 7 days per week. No holidays, zero waiting period and no middleman will be getting in the way to take their cut of the action. And to please most of the idiot politicians, that travel in a Gulf Stream, proclaiming they are proponents of climate change, the currency incurs very little power.
XRP (Ripple) meets all the specifications listed above.
To Highlight:
- Robust enough to handle thousands of transactions per minute
- Meets supreme security measures of IS020022
- Ability to interchange any viable cryptocurrency and fiat currency
- Speed of transactions usually in seconds
- Available 24 hours a day and 365 days per year
- No middlemen involved with transactions lowering costs
- Dencentralized for privacy
- Solves the Byzantine General’s Paradox of Trust via high tech. mathematics
- Is very “green” with extremely low energy costs rivaling all competitors
There are also 7 other digital currencies that run on the rails of XRP. I call them family members within the same ISO20022 security network. They are ALGO (Algorand), DOGE, IOTA, LTC (LiteCoin), SHIBA (Shiba Inu), XDC, XLM (Stellar Lumens) and XRDOGE.
And there’s a important message here that I want to emphasize, not only with Bitcoin, but with any digital coin you may think is important to hold on to for it’s long term future within your profile. First, do not speculate. Every time you buy and sell, you not only pay a price to the dealer of that site but you must pay the appropriate taxes to the government. Second, you need to have the discipline to HODL (Hold On for Dear Life). Focus on the future and not on the wild price swing volatility of all the digital coins. So if you can’t stomach the roller coaster ride, these investments may not be for you. No one, I repeat no one, can know the exact bottom or top of the market. Be that in stocks, bonds, crypto or any investment vehicle. There are just so many millions of opinions out there that someone, somewhere is going to make the correct prediction. The thing is that they cannot or usually will not be lucky enough to be right the next time.
Investments in any of the coins above are a financial risk that could result in complete meltdown of all your funds. On the upside, if the above currencies turn out to be Financial Technology’s versions of the next Amazon, Google, Facebook, etc. you will experience generation wealth in a much shorter period of time. Due to today’s speed of information and network effects it maybe an exponential explosion to the upside. I’d rather be years too early than 10 seconds too late.
Do not take my writing as financial advice. This is for education and entertainment purposes only. Due your own due diligence to further your education on this topic.
On a personal note, happy first day of summer, 2022. With this season, hope you enjoy all life offers either locally or outside of Doge. Do something fun and exciting!
Categories: Health
Renovating Your Mind 
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