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The rise of money – money is power

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The rise of money – money is power

There is an incredible feature of cryptocurrencies that almost everyone seems to have missed, including Satoshi himself.

But it is there, hidden, continually collecting energy like a hurricane far out on the sea, swinging to the shore.

It’s a stealth feature that has not been activated yet.

But if it succeeds, it will go through the whole world, recreating every aspect of society.

To understand why, you just need a little bit about that History of money understand.

The rise of money

Money is power.

Nobody knew this better than the kings of antiquity. Therefore they gave themselves an absolute monopoly for the coinage of Moolah.

They turned shiny metal into coins, paid their soldiers and their soldiers bought things in local shops. The king then sent his soldiers with a simple message to the merchants:

“Pay your taxes in this coin or we will kill you.”

That’s almost the entire story of the money in a paragraph. Forcing and controlling the supply of violence, aka the “violence hack”. The one hack to control them all.

As power shifted from monarchs to nation-states, distributing power from a strongman to a small group of strong men, the power to print money passed to the state. Anyone who has tried to make their own money has been destroyed.

The reason is simple:

Centralized enemies are easily destroyed by a decapitation attack. Cut the head of the serpent and that is the end of anyone who would dare to question the power of the state and its divine right to create coins.

That’s exactly what 2008 is about E-Gold

This is one of the first attempts to create an alternative currency. It was introduced in 1996 and had more than one million accounts by 2004. In its heyday, it processed more than $ 2 billion in transactions in 2008.

The US government attacked the system’s four leaders and brought charges against them for money laundering and conducting a “license-free” deal in the case of “UNITED STATES of America v. E-GOLD, LTD, et al.” It destroyed the company, by bankrupting the founders. Even with light sets for the ring ladder, the game was over. Although the government did not shut down e-gold technically, it was practically over. “Unlicensed” is the key word in their attack.

Meanwhile, there are many other projects and developments based on the Blockchain technology. The world has progressed so far that there are even incredible projects you can not imagine.

The power to license is a monopoly power.

E-Gold had the opportunity to apply for inter-governmental transfer licenses.

It’s just that they would never get it.

And that of course took her out of business. It’s a lively, breathing Catch-22. And it works every time.

Kings and nation states know the true golden rule:

Control the money and you control the world.

And so it has disappeared for thousands of years. The first emperor of China, Qin Shi Huang (260-210 BCE) Abolished all other forms of local currency and introduced a single copper coin. That was the blueprint since then. Destroy alternative coins, make a coin to control them all, and use brutality and blood to keep this power at all costs.

In the end, every system is vulnerable to violence.

Well, almost everyone.

The Hydra

In decentralized systems there is no head of the serpent. Decentralized systems are a Hydra. Cut one head and two more pop-in to take his place.

In 2008, an anonymous programmer working in secret once and for all found the solution to the violence: “Governments are good at cutting off the heads of centrally controlled networks like Napster, but pure P2P networks like Gnutella and Tor seem to be claim. “

And the first decentralized monetary system was born:


It was expressly designed to withstand coercion and control by centralized powers.

Satoshi remained wisely anonymous for exactly this reason. He knew they would come after him because he was the symbolic head of Bitcoin.

This happens every time someone has reported as a Satoshi, or when someone has been leaked to the news media as Bitcoin’s mysterious creator. When the fake Satoshi Craig Wright came out, the Australian authorities immediately searched his house. The official reason is always wrong. The real reason is to cut off the serpent’s head.

As Bitcoin gains in value, the hunt for Satoshi will intensify. He controls at least a million coins that have never moved from his original purse. If VC Chris Dixon is right and Bitcoin rises to $ 100,000, those million coins will shoot up to $ 100 billion. If it’s even higher, say a million dollars, it would be the world’s first trillionaire. And that brings the hammer only harder and faster on him. You can be 100% sure that Black Ops units shoot at him around the clock.

Wherever he is, my advice to Satoshi is this:

Stay anonymous until your deathbed.

But resistance to censorship and violence is just one of Bitcoin’s many incredible features. Many of these key components are already in use in a number of other cryptocurrencies and decentralized projects, notably blockchains.

Blockchains are Distributed Ledger, the third entry in the world’s first triple-entry system. And breakthroughs in accounting have always heralded a massive increase in human complexity and economic growth, as I’ve explained in my article Why Everyone Has Missed The Most Important Invention In The Past 500 Years.

But triple bookkeeping, decentralization and resistance to the violence hack are not the true strength of cryptocurrencies. These are just the mechanisms of the system, the way it survives and thrives and brings new abilities to humanity.

The ultimate feature is one that Bitcoin and current cryptocurrencies have so far only hinted at, a latent trait.

The true strength of cryptocurrencies is the ability to print and distribute money without central power.

Maybe that seems obvious, but I assure you, it’s not like that. Especially the second part.

This power always rests with the divine right of kings and nation states.

Until now.

Now the right returns to its rightful owners: the people.

And that will open the doors of world trade and sow the Seeds for Star Trek like overflow economy and leave the Old World Order of the pure scarcity economy in the pages of the history books.

There’s only one problem.

Nobody created the cryptocurrency we need right now.

You see, Satoshi understood the first part of the maxim, the power to print money. What he missed was the power to distribute that money.

The second part is actually the most important part of the puzzle. If you miss it, a critical bug has emerged in the Bitcoin ecosystem. Instead of distributing the money far and wide, they were central bankers for an unelected group of miners.

These miners are overhauling the system, withholding software upgrades like SegWit for years, threatening meaningless HardForks to lower their price with FUD and get more Coin at a low price.

But what if there was another way?

What if you could design a system that would change the economic landscape of the world forever?

The key is how to distribute the money at the time of creation.

And the first group that recognizes this opportunity and puts it into action will change the world.

To understand why you have to look at how money is created and pushed into the system today.

The big pyramid

Today, money starts at the top and flows down to everyone else. Think of it as a pyramid.

In fact, we have a famous pyramid with a third eye on the dollar itself.

One of the smartest arguments against Bitcoin is that it’s a ponzi or pyramid system. A pyramid scheme is based on the original creators of the system, which joins as many oppressors as possible and pays them to enter people into the system rather than offering goods and services. Eventually, people will go out and bring you in, and things will collapse like a house of cards. A Ponzi scheme is basically the same, by deceiving the original investors with false returns on their initial investment, a la Bernie Madoff, and then making them attract more idiots because they are so excited about the huge profits.


The irony, of course, is that Fiat currency, hence government-printed money like the yen or US dollar, is closer to a pyramid scheme than Bitcoin. Why? Because paper money is dominated by the central banks at the top of the pyramid and then “trickles down” for everyone else.

The only problem is that it does not so seep away.

It moves to a few big banks that either lend to people or give it to people for their work. In fact, having a job or getting a loan, the primary methods that people get at the bottom of the pyramid are none of the money. In other words, they exchange their current time (with a job) or their future time (with a loan) for this money. It’s just that their time is a limited resource and they can only trade so much before it expires.

Think of economics as a game. Everyone in the system is a player who tries to maximize his advantage and the advantage of his team (a company, his family and friends, etc.) in order to get more of the money. To start the game, you must first distribute the money or nobody can play. Distributing money sets the playing field.

Well, if you had the money, how would you distribute it to the network? You want to keep as much as you can, so you would set the rules to maximize your personal advantage. Of course you would! That’s what anyone who is able to do it would maximize to keep it as long as possible.


That is exactly what the kings and queens of antiquity did, and that’s what nation states do today. As Naval Ravikant said in his epic series of tweets about Blockchain, today’s networks are led by “kings, corporations, aristocrats, and mobs.” “And the rulers of these networks are the most powerful people in society.”

That’s why every single system in the history of the world has distributed the money in one way:

From top to bottom.

Because it maximizes the advantage of kings and mobs at the top.

Unfortunately that means that most of the money never really leaves the top. It stays there exactly, as wasted and frozen potential that is never realized. There is little to no incentive to move the money. Since money is power, it literally harbors more power and no one would voluntarily give up that power.

In other words, the game is manipulated.

What we need is a way to reset the game.

So far our prospects have been very weak.

For example, we could pass a law like a universal basic income (UBI). That would give everyone a cash flow, push it across the board and give more people a chance to join the system. When more people can join, we unlock all sorts of hidden and unused values.

How many great inventors have never managed to make their next breakthrough, because they travel a bus seven days a week to feed their families, with no hope of free time or a clear way to get out of debt? How many great writers have gone to their graves who never wrote their great novel? How many budding scientists have never discovered the cure for cancer or heart disease?

The problem with all the previous plans, from UBI to socialism (high taxes on the rich to distribute the wealth in the game) is that the redistribution of money, after it has already been distributed, is almost impossible. The people with this money rightly resist their redistribution. And as Margret Thatcher said, “The problem with socialism is that you eventually run out of other people’s money.”

But what if the money is not already distributed?

What if we do not have to take it from anyone?

The inevitable result of all credit purchases from top reserves is a bankruptcy.

This is the missed opportunity of all today’s cryptocurrencies. Cryptocurrencies create new money. And unlike the credit markets, which only pretend to widen the supply of money by borrowing it with a reserve loan 10x, cryptocurrencies literally print money. And they do not lend it to people, they give it to them for their service on the network.

It’s like microcredit, without the loans.

As Naval said, “Society gives you money to give the society what it wants, Blockchains give you coins to give the network what it wants.”

So instead of giving the whole money to a small group of miners, what if we could do better? Much better?

We can.

I have sketched a way in an article about the Cicada project, how to provide a universal basic income now and save ourselves from the robots. The Cicada design turns the idea of ​​mining on its head. Everyone on the network is a miner and nobody can have more than one miner.

Miners are designed at random to ensure the smooth operation of the network. You may go along, get coffee and your phone will be called to secure the network for a few minutes. Then it’s time to sleep again. As a reward, you can win new coins if you do nothing but have the application on your phone. Just right?

Because everyone is finally drafted, everyone gets paid, which essentially creates a UBI at the moment.

And that’s just a possibility.

If you think about it, you can come up with dozens. Oh, and do not let that stop you from thinking that the only way to do that is with an ID. Many ways to design miners without accident. The key is to free the “Satoshi box” and think differently.

What we really need is to fully duplicate the supply of money and to distribute it widely at the moment of its creation.

Money is a game. Embrace it.

Give it as a reward for using apps, or as distributed mining fees, or as a proportionate reduction in mining fees to organizations that add value to the network, just a few more ways to get it right. These are just the tip of the iceberg. There are thousands of ways, but we just did not think about the problem.

In other words, we missed the true power of Satoshi’s creation: the distribution of money.

The first system to truly gamble the supply of money will rise to exponential growth and turn the current system upside down forever. This will set the initial playing field dynamic and allow players who never came into play to compete. The more people can participate, the more efficient and valuable the network becomes.

“Networks have” network effects. “Adding a new participant increases the value of the network for all existing participants.”

Right now, we’re not adding new subscribers fast enough to the Cryptonets of tomorrow. The system is still vulnerable to the violence hack. Gamified money is the answer to exponential growth.

When the system grows fast enough, it becomes an unstoppable juggernaut, and the rest of the economic universe must come to the new playing field.

Once the Amazons and Google join the world in the game, their self-preservation drive will step in and they want to protect and expand it. And this new network will behave differently. Rather than rewarding only the top executives who manipulated the rules in their favor since the beginning of time, the game is completely reset with a new set of rules.

What’s the best for the entire network, not just the few players at the top, is the best.

Blockchains are a new invention that allows meritorious participants in an open network to govern without a ruler and without money. They are performance-based, tamper-proof, open voting systems. Meritorious are those who work to advance the network. Blockchains open and performance-based markets can replace networks previously run by kings, corporations, aristocrats, and mobs. “

Those who join the network and help it grow will thrive and thrive. It will increase its own value and make it grow faster than ever before in history. Each ounce they give the system will increase their own rewards.

In contrast, economies that oppose the network and try to paralyze it with arbitrary rules will pay a heavy price. The system will be spread all over the globe and only the most important rules will prevail, because to bring a distributed system up to date requires a broad consensus across the network. Since people can generally only agree on big, essential solutions, no self-destructive, narrow-minded rules are allowed.

Suppose a country decides to restrict ICOs to its citizens or make cryptocurrencies illegal. Instead of killing the network, the rules will fall back on their creators. Only their own people will suffer as they will not be able to participate in the explosion of new potential that the ICOs bring to the table and withdraw money from the economy into rival economies. Worse, if they make cryptos illegal, they simply drive the money underground, preventing them from getting taxes from their citizens starving them of the proceeds.

As the system spreads, it will regain control over its own financial strength. No one will be able to take your money from you. And that’s a good thing.

Of course, not everyone thinks that. Some people are always worried that people with this power are doing bad things, such as crime. But people will always do bad things. They do these things now and they always have. Crippling the system for everyone just to get those people is the pinnacle of insanity. It never worked and never will.

Nevertheless, some people will never believe that.

They unconditionally trust their central forces. All you have to do is end your argument in “Protecting the Children” or “Fighting Terrorism,” and you can fool half the people in general about any terrible policies you want.

However, I have found that people who regard central systems as the answer to everything have generally lived in a stable centralized system throughout their lives.

A few days in an unstable system would change their mind very quickly.

Do not believe me?

Imagine you were living in Syria now.

Your central infrastructure is destroyed, as well as your money. You do not want the war, but you can not do anything about it. Now your house is gone, your friends and family are dead, your banks are bombed out, and you are displaced, helpless, homeless and destitute. Worse, nobody wants you. The world has shifted from open borders everywhere to building walls. You are nowhere welcome, you can not stay where you are and you are broke.

But what if your money was still there, on which Blockchain was recorded, waiting for you to download and restore a deterministic wallet and give it the right passphrase to restore it?

How much easier would it be to start your life?

Finally, cryptocurrencies provide a way for us to control our own destiny. For the first time in the history of the world, we have a way to generate and distribute money without a central power. People are in control of the money they rightfully deserve.

And even better, instead of setting up the playing field to manipulate the game, we can set it up the way it was meant to, with open competition and flexible rules in a dynamic system that allows everyone to compete.

But we have to think big. We have to find a way to distribute the money far and wide without taking it from everyone else. Do that and we’ll change the game forever.

Centralized money is the ultimate chain.

Cut this chain and you rid the world.

Quelle: https://hackernoon.com/why-everyone-missed-the-most-mind-blowing-feature-of-cryptocurrency

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