Is Bitcoin A Rich Quick Scheme? - NO, It Is A Tool For Humanity To Realise Peace And Prosperity On Earth

in bitcoin •  4 months ago

Bitcoin is not created to make people filthy rich, but to fundamentally change the global financial system that is responsible for war and poverty and leave billions of people suffering every day. When you understand the flaws in the current system you will see how good and prosperous the world could have been. Although it is extremely frustrating to see how human life and our globe is being wasted today, the good news is that we now have a tool to change it. I think a revolution is eminent once people realise how sick and harmful the current system is.

Bitcoinpeace.jpg

The flawed financial system

The current financial system is heavily corrupted and flawed and it is negatively influencing every aspect of our life. This only could happen because the monopoly of the banking cartel is protected by force of government. Every attempt to compete with the current financial system is violently destroyed by the government in the last century. Newly created systems were shut down and the creators arrested for ‘money laundering’ or ‘unlicensed banking’.

The absence of competition gave the bankers the power to create money out of thin air and artificially manipulate interest rates without an outflow of users of their system, simply because there was no other place to go. Creation of money will not create extra wealth, but just re-distribute it. Value will flow from the holders of the printed currency to the creator of it, every dollar printed will dilute the wealth of savers and give this value to the governments and banks.

By renaming the crime called counterfeiting to Quantitative Easing, banks and governments can now legitimately steel from people. This is the reason that people all around the world see their standard of living decreasing every year, even when their salary goes up. Before poor people can grow their way out of poverty they first have to fight to grow their way out of inflation and most will fail. Also the middle class have to be more productive and have to sacrifice more free time to maintain the same living standard. The final result is that almost everyone will be working more and more hours to just survive, humanity will slowly but surely be enslaved.

The biggest flaws

Some of the flaws in the current financial system are devastating for humanity and would not exist when there was competition because people would choose the best system. Corruption on this scale would be punished by the market, value should flow out of the corrupted system into the competing system.

Money creation by centralised party

The power of a centralised group of people to create money out of nothing is not only an indirect form of theft, but also comes with big negative consequences for humanity in general. Easy money instead of hard or sound money causes misallocation of labor and resources on a huge scale because money is easily available to some parties so there is less incentive to make well calculated investment choices. This causes inefficiency in the economy and will eventually lead to less wealth for everyone except the chosen few while the environmental damage remains high and people have to work hard (their work is partly spilled) to just survive.

More importantly, sound money will restrict the government. When they want to go to war they have to go to the tax payer to get it funded and this is not be easy when they not come up with very good reasons. With easy money they just print it, they will be able to fight long and devastating wars and when they need more funds for their mass murder they just print more and tell the people that they are doing it to boost the weak economy. Let’s take the Iraq war whereof the usefulness is never proven as an example:

cost iraq war.png

The Iraq war came with an expense of 2 trillion dollar. There were around 150 million tax payers in the US that time, so every taxpayer would need to pay 13,333.33 USD to fund this war. Imagine that you would get a bill from your government for the Iraq war of more than 13k dollar and a few years later politicians plan to go to war in Syria. What would your reaction be? I think a big majority of the people would say:

Pay your f*cking useless war yourself!

Purely through tax many of these useless wars would not be possible to fund and would probably have never happened. Also, both of the word wars that costed millions of human lives would have ended much earlier in absence of the flawed central banks because one of the sides would have runt out of money and not be able to pay their soldiers (murderers) anymore. The reason wars could exist on a big scale is because the governments were able to fool the people by printing money instead of taxing them directly. The cost in the form of inflation was felt later and was blamed on the economy.

Also, society in general degrades when money is not sound. Because time preference changes, focus will be on the short term instead of long term. People will allocate their effort more likely to a fast money grab than in slowly building a good reputation and investments will go to consumer goods instead of capital goods. There will be a lot of capital wasted for short term satisfaction while future generations are being left with nothing but debt. Society will become increasingly antisocial when a quick gain at the cost of someone else today is valued higher than the reputation damage in the long run.

time preference.png

Manipulation of interest rates

In a free economy interest rates are set by the market, it represents the supply and demand for money. Interest rates are regulated perfectly by the market itself, when savings are increasing it signals that there is a lot of money to be spend in the future and interest rates will go down to boost investment in products and services to meet this future demand. When savings decrease it signals that consumers will have less money in the future to spend, the interest rates will go up and this will decrease new investment. A perfect system without any form of intervention.

Central banks are blowing up bubbles by pumping out of thin air created money in the economy and when the bubble pops and a crisis appears they claim that they have to fix it by artificially lowering the interest rates to stimulate investment and improve the export position by devaluing the currency. The power to manage the interest rates is making the already easy money even more easy because going in dept can be done almost for free.

This increases mall-investments even more and dismantles the restrictions on the government further because they can also borrow much more to go to war and practice other useless actions without the consent of the people, while people go deep into dept, overcapacity destroys entire sectors and investors invest in high risk assets in order to gain some cash flow to be punished by the market later.

dept.png

The long term result of this dept stimulating low interest policy is that a child that is born in America today starts his life with 64k USD government debt on his shoulders, can we call this freedom or is it a crime against humanity?

It will get even worse when you consider the unfunded liabilities that some have estimated on 210 trillion. Now a new born American is carrying a debt of 600 k on his shoulders! Within a few years new born American children will be debt millionaires!

https://www.forbes.com/sites/johnmauldin/2017/10/10/your-pension-is-a-lie-theres-210-trillion-of-liabilities-our-government-cant-fulfill/#4940e67665b1

Possibility of financial censorship

When the people in power don’t like what you do with your life they simply freeze your bank account or cut you off from the financial services. This can happen to an individual when he attended the wrong protest or an organisation that exposes the crimes of governments (Wikileaks). It also happens on global scale, in sanctions against Russia USD bank accounts simply get frozen.

In my opinion there is no difference between an airstrike and sanctions. When civilians die in an airstrike everyone is shouting that it is inhuman, but I think sanctions are causing at least as much suffering and death. Hard working Russians lost their business overnight after the sanctions were enforced and since there is no social security their income disappeared instantly. Many are not able to feed their children or pay the electricity bill while they probably had nothing to do with politics. Is it worse to be hit by a bomb or to starve to death? I think it is both terrible and it is both caused by our sick monetary system.

Exclusion of half of the world population

Half of the world population is not connected to any financial service, so it will be extremely hard for them to come out of poverty. When you try to set up a financial service to give these people a chance you will certainly be arrested and charged for unlicensed banking or money laundering.

Bitcoin is the ultimate solution

Bitcoin is the first successful attempt to create competition to the current financial system in more than hundred years. Since Bitcoin is distributed code and thus immune for violence, the government failed to shut it down and they will certainly fail to do so in the future. Because Bitcoin is here to stay and will not be destroyed or compromised by anyone, the current financial system will be replaced or have to radically adjust to be able to compete with Bitcoin. Both will be a huge win for humanity.

In a world with Bitcoin as the standard or Bitcoin regulating central banks through competition there will be no more unlimited money printing, no interest rate manipulation, no financial censorship and everyone on earth will be included. This will lead to the following changes:

Governments have to seek funding through taxes and need really good reasons to allocate scarce money to a certain program. Useless wars will not happen anymore and governments will greatly reduce in size, so a bigger part of the population will create something useful what leads to more wealth overall (government bureaucrats don’t create anything, they only destroy effort of creators).

Labour and resources will be allocated more efficiently, everyone on earth will gain wealth by the same input of effort.

People will save money and invest in capital goods to produce more wealth for the future and future generations, also innovation will accelerate and people will become more cooperative and social.

Everyone in the world will be able to take a loan, invest and earn money internationally, so a huge part of the 3rd world will get out of poverty because they are able to do business. Also international trade becomes frictionless, this will benefit everyone around the globe.

These effects will have a secondary effect too. For example: If the Syria war never happened the trillions of dollars were probably invested in something that adds to the overall wealth and standard of living of the American population, the worldwide oil prices would be lower (war cost oil and causes uncertainty in the oil market) and this would boost the entire world economy, the refugee crisis would not have existed thus billions in Europe could have been invested in a more useful way and many government people would not be necessary and thus could produce something useful for the world.

All these secondary effects have a deeper effect too and so on, can you imagine how a better place the world could be?

But I want to be rich……

Everyone wants to be rich, but my point is that the world can gain much more from Bitcoin than just the creation of a few rich. The beautiful thing is that early investors will probably enjoy both: Making the world a better place AND becoming rich. By investing in Bitcoin you are taking a risk by adding value to an immature network. Because the network becomes more valuable more devs want to work on it and more users will find it useful, so actually investment is a part of the creation.

More importantly, by switching from fiat to Bitcoin the value you created through hard work will not be confiscated through inflation and not be used for war anymore. By allocating your funds to the Bitcoin economy you empower yourself and the people and take power away from governments and the corrupted banking system. Every dollar that flows into Bitcoin more people will become curious, learn about money (what they not teach at school) and wake up to the scam where they living in and add their dollars too.

This is the most easy revolution ever, just exchange your money…….

Disclaimer
This is no financial advice, just my view on the market.

Never stress in a bear market anymore: Follow my diversification protocol

Store your Bitcoins securely
Ledger hardware wallet
Trezor hardware wallet

Trade Cryptocurrencies
Binance Exchange

Buy Bitcoins anonymous with cash
Localbitcoins

Protect your privacy with VPN and pay with crypto
Torguard

Buy gold securely with Bitcoin and store in Singapore
Bullionstar

Like this post? RESTEEM AND UPVOTE!
Something to add? LEAVE A COMMENT!

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Bitcoin is the future!!!!

·

definitely! bitcoin is a decentralized technology that the government can't control it.

·

PART of it. Remember, all "money" systems do lead to the same conditions. Bitcoin is the better solution for the time being but we will need to evolve beyond that eventually.

·

@jiohighfive both are in same path.

yes its a get rich quick in a 3 years time...

I hope we have a good result of the price soon

There is a rather simple answer to this. "No, Bitcoin is not a get rich quick scheme."

Why?

Do you think it was easy and fast for the people who mined Bitcoin all the way back in 2009 or bought it in 2011? Does the 9 years span seem short to you?

No.

Rather, it's a: "Technical people got the advantage (as it has always been in the past) so they got rich. After that, no one really knows." scheme.

The current financial system is heavily corrupted and flawed( Absolutely True and fact) due to these culprits we have to face these issues.Cor(2).jpg

Could it?

Could it?

I Know how to mine Bitcoin

bitcoin is not buble it s real one chnage life style

it is a technological revolution....................not a get rich scheme. it have power to change whole world.

So inflation cannot hit Bitcoin as compared to fiat. But fiat has a different story as compared to Bitcoin. Bitcoin's up and down are way different to be compared with fiat. Fiat is stable and thus boring, Bitcoin is violent and thus exciting.

Good analysis, good article

Is Bitcoin A Rich Quick Scheme?

I have to disagree with your immediate answer, because it is, if you have a small knowledge of investing in markets you will get rich very quickly with crypto (BTC). But obviously that's not the purpose of BTC, it will change the world, and I would dare to say that some consequences are already starting to impac in the "real world".

All human is greedy, its in our nature, and crypto (BTC) is, as you said, the ultimate solution, in many forms of our lives.

What an amazing post

Great article @michiel you really put it together nicely and made it easy to read and understand. This is the kind of information we need to be getting out to the masses.

Within a few years new born American children will be debt millionaires!

Scary and true and this is why things need to change. Plus the sanctions thing wow I never thought of it like that.

You have a new follower. I look forward to more from you

bitcoin es la nueva generación y cada vez tendra mas influenciaa en el mercado

To listen to the audio version of this article click on the play image.

Brought to you by @tts. If you find it useful please consider upvoting this reply.

every where bitcoin bitcoin,,,,in case of bitcoin is on there low... then think what will happen when bitcoin going on bullrun

investing in any crypto currencies is a game of patience.

With crypto, you have a little controll of money-distribution, at least your money. With fiat it's don't work. Crypto=more rights. Thats all.

Well done. I see bitcoin (as well as the others) as a transitional catalyst to something way better than what we have now. Meaning whether or not it makes anyone rich is inherently invalid.

Who here has heard of LinkedIN?

Most of you have or have at least heard of LinkedIN, the online resume sharing and business relations platform. Similar to LinkedIN, SpringRole is a Blockchain Backed Identity and Attestation DAPP that models and verify's your profile, For instance, Colleges will attest to an earned degree for the individual via platforms like Civic which are already integrated with the WORKING PLATFORM. SpringRole is an ERC-20 currently undergoing its token-sale with 1.8 million already crowdfunded!

With a strong team backing the SpringRole project with former Bitcoin Core developers, CEO's, Investors, Stanford and MIT Graduates in addition to multiple Carnegie Mellon University alumni such as Kartik Mandaville, the CEO and founder of SpringRole. Kartik has led his team to meat every goal ON TIME on their roadmap so far with a full decentralized "LinkedIN" expected at the end of July!

I have already created my profile and verified my account via a unique transaction over the Ethereum blockchain free when you register. I really do think this project has alot of potential to grow with a big market share to capture If you are interested in creating your decentralized SpringRole account to better represent what you bring to the table. My referral link can be found below and will reward you and me with 100 Spring Tokens free of charge during this token sale; be sure to add 3 skills to your profile to recieve the 100 Spring Tokens. Leave some comments below and let me know what you think!

Referral Link For Free Tokens
https://springrole.com/noahcramos

Nice post. i upvote you . please support me on my post.
@vapower

if we see the bitcoin as a future currency then only we can understand the real value of bitcoin but instead of this we are using to an investment. peoples thinking becoming negative as they want profit only in short term. they are not able to identify the bright future of digital currency. that is very shameful for us

@michiel Crypto just in a beginning phase. Many ups and down occurs in it's pathway but it'll rise!

Well done, wonderful initiative
I do not know how to be different if the principle is justice !!
Great post..

Yes you are absolutely true .
Great post .

But I want to be rich……

·

Then you have to wait for Bitcoin rise !!!! Just Hodl you btc

·
·

How much wait??

How much bitcoin can go up in 2018?

Please help me!!

Could it?

I am totally agree with you. Bitcoin is not a profitable scheme

nicely done.
Your message on BTC is well articulated, although fiat currencies will not go away.
thanks.

I agree with much of what you say but it is not just banks its the whole legacy financial system that opresses many, for example remitances from Africa charge something like 12% for people to send money. In the age information Bitcoin and BlockChain can become tools to achieve financial sovereinghty and hopefully fight corruption