Why The U.S. Dollar is SHIT, Universal Basic Income Won't WORK and Cryptocurrency Will Take Over

Money is magical.

Its a special piece of paper or verification number on the screen which goes from your pocket and turns into a candy bar, a house or a car...

This isn't typically how we view, but in reality, it's exactly how it functions.

See money used to be gold, which with different weights was different amounts of perceived value, whereas the U.S. $1 and the U.S. $5 weigh the exact same yet create a different reaction when a clerk receives it.

Now I know that gold, and the varying weights, become incredibly tedious to truck around, yet that's where we face a problem.

Do we give up the actual value of what something was for a more convenient method, or do we look for a new evolution?

How Money Is Perceived As Value

Everything has an evolution, and just like humans, money has changed over the years.

It started as a means of recording debt, we would hold a paper saying you owe X amount.

Trudging along the silk road with a herd of cows may have been an unpleasant experience, especially trading it for a barrels of spices, where then you have to carry it all the way back.

So money became a denominator of debt and the value one has taken. 

Prior to that, we even use different sized sticks as a measuring tool of value, not that the longest stick was the most expensive, but just that there were a means of recording "wealth."

And, of course, the ultimate method was just trading one good or service for another good or service.

This is money.

Its what it is supposed to be.

A means of exchange that holds a perceived value based on a mass consensus of work to value ratio

Do more work and you get paid more for the value, do better work and you get paid more in fewer time. 

It's a pretty logical way to record and give value to others. 

Value = money

Although, there has become a big fork in what the value is, who holds it, how it is perceived and what comes next...

Why The U.S. Dollar is SHIT and Universal Basic Income Won't WORK

The U.S. was backed by gold... until the 1930s

That's when it became something that didn't really matter, and ended up being the exact thing that traps us.

This dollar, this perceived notation of value, this little piece of paper that burns just like any other pieces of paper is the thing that rules our life.

Which is why it is SHIT

Money is supposed to be exchanged for value, and it stands for the value you provided.

Therefore, there must be a certain amount of money or value, that can exist at certain time.

As time grows, money will grow, because the universe is ever expanding and so are our resources.

Yet, money itself needs to have some sort of backing, and mass consensus does work to a certain extent.

In fact, it only works when there is a way to measure the amount of money out there, because otherwise we can give all the value to sand and have everyone who can get some (there is still an amount in this case) rich. 

Yet, then the sand wouldn't be worth as much.

When you want something more than someone else the value increases. 

Want a candy bar but John is going to pay $3 for something, well you have to pay at least $3.01.

And this is how the stock market works, buying shares in company and increasing the amount they are worth based on demand.

Now, with universal basic income if you give everyone tons of money, at least paper and not gold because gold actually has an amount, then it becomes worthless.

That's how inflation happens.

And if we give everyone tons of money, then the U.S. dollar will decrease in value.

Pair that with debt, and it already is worthless.

Granted giving everyone rice and shelter, becomes a different situation as those become necessary means of living, whereas money, and the way it is valued will be less if everyone has more making fewer people able to afford rice and shelter.

So what becomes the next means of value?

Why Cryptocurrency Was Created... 

Cryptocurrency provides a cryptographic, meaning completely valid signature, method of money with a finite amount.

It becomes harder and harder to mine as time goes on, so that value itself will increase regardless, but mass appeal increases similarly as it becomes more sparse.

With all of these attributing factors, plus popularity and mass consensus, cryptocurrency is quickly becoming a logical next evolution.

Now people will say that quantum computing will completely disrupt and kill off protection by private keys and wallets, and while it may, most people saying it don't understand quantum computing (which I will go into soon.)

Add to that, hackers can already get inside your bank account, and your bank itself can misplace your money leaving to sitting on your hands because YOU CAN'T DO ANYTHING.

On the other hand, cryptocurrency has private keys, encrypted security that can take up to 100 years to crack, an amount that is fixed, mass appeal, it exists within technology and it quite literally is an evolution of money where you can't give everyone 100 bitcoins because there isn't that much.

It's like gold, except better.

You can transfer it almost instantly, carry it anywhere, and its value comes because of its features.

While gold, on the other hand, exists in magical fairyland where it's hard to lug around, and becomes something shiny that we just gave value and made it worth something.

Money runs out, time doesn't.

Invest in bitcoin, but mainly invest in your life by using your time wisely,

Austin

Photo Credit:

• Aidan Bartos
• Freddie Collins
• Jimi Filipovski
• William Iven