Central Bankers are screwed
It's too late for Central Banks.
The only people who had the right and power to make money were the government and the banks. If anyone else tried to make money or issue their own currency they would be immediately stopped and charged with some form of crime.
This ensured that only a few men had the power of new money issuance. These men controlled economies and countries. They controlled living standards and health standards.
The entire system upheld and maintained a balance of power supported by military might. This kept the poor poor. Even when the poor, had resources which could be refined in exchange for wealth, the poor remained poor as the wealth is always syphoned off to settle in more cooler climes.
Then along comes Bitcoin ten years ago. Because it was a software protocol and not easily understood the central bankers ignored it. They never thought that it would last. But it grew and became stronger. Today bitcoin is an internationally recognised form of money. Bitcoin started to gain traction among the programmers and the march on wall street movement that happened after the crash.
The protest outside wall street stopped as these protesters had to get on with life. Bit Bitcoin didn't stop. It kept growing.
The really exciting part is that because of Bitcoin and the technology that it has introduced was open sourced. Nobody owned it there was no patent, now anybody can issue their own money.
No fear of the police breaking down your door or sending you to prison for counterfeit or robbery.
This has significantly weakened the ability of central bankers to control the narrative of the economy. The world is on the verge of a drastic change if things are let to continue as they are. The powers that be must take some serious actions in order to maintain the current power structure that we see today.
- All out war
A war against some form of bogey man is a proven tactic that helps to control the thinking of the people. Also if an individual does not support the war that individual is deemed a traitor. So a war is an excellent way for the incumbent forces to maintain the status quo. - Regulation is also a very effective barrier to entry into the big money game by the riff raff. By putting certain criteria in place that most people would not have to face now regulators can curb the growth of this sector.
The truth is regulators and governments are in a position that they recognise the benefits of the technology but they don't want the granddaddy and his grandkids crypto at the money party.
It's too late.
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Excellent post. Creation of money as medium of trade is a controlling factor.
Yes. Many people are still working to earn money and have not realised the paradigm shift that crypto brings by allowing you to not only earn money through your efforts but to make money. Of course, there must be a degree of skill and value to the offering or it will be eventually rejected by the market.
The same way the market is beginning to reject sovereign issued debt based fiat.