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
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.
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.
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.
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.
I started in the normal craft business and went the way of the IT system electronics after training. In my own company, I trained in web design, graphic editing and later came to cryptocurrencies through an accident at work. I like dealing with cryptocurrencies, marketing and websites, and figured out how to make money with them quite easily.
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