Is Bitcoin the Canary in the Coal Mine for a Failed Global Financial System..?? I think so..!!
The Global Financial System Canary..!!
BITCOIN is nearing parity with GOLD and surely is now setting off Financial Alarm Bells throughout the World..!!
Is Bitcoin the Canary in the Coal Mine for a Failed Financial System..??
I think so..!!
The Global Financial System is nothing more than a complex set of DEBT and DERIVATIVES that are being traded for one sole purpose.....PROFIT..!!
It does not take a rocket scientist however to work out that this so called "Profit Trade" has a limited life.
For the ones unfamiliar with DERIVATIVES they are nothing more than a 50/50 leveraged bet of a future event where one party wins and one party loses and someone makes a tiny fee for setting it up.
Most people assume that Financial Derivatives are some kind of Financial Wizardry that are only understood by the smartest of Financial People working for the Banks and are way to complex for ordinary people to understand but if the truth be known they are simply a Financial Instruments that allows the "risk" element of an asset to be traded UNREGULATED..!!
This unregulated trade however once leveraged actually has the potential to totally wipe out the underlying asset value it supports should the gamble go the wrong way.
How does this make BITCOIN the Canary in the Coal Mine you may ask.
This is easy to explain.
BITCOIN'S underlying technology the Blockchain is a tamper-proof Cryptography Technology that cannot be manipulated, rigged, controlled, owned, orchestrated, or choreographed and it is what it is.
As a Distributed Digital Ledger of Transactions that are permanently stored on a shared ledger and verified by everyone on the system it represents what the Financial System does not and that is PURE CONSENSUS.
What we are currently witnessing is the initial stage of the collapse of the complex Financial Derivatives and I will repeat what I have been saying now for coming up to 2 years and that there is not one person on the Planet smart enough to calculate the Systemic Risk to the system when these implode..!!
So is Bitcoin the canary in the Coal Mine for a Failed Financial System..??
Not only do I think so, I know so..!!
Thanks for reading.
Stephen
Hello @stephenkendal,
Congratulations! Your post has been chosen by the communities of SteemTrail as one of our top picks today.
Also, as a selection for being a top pick today, you have been awarded a TRAIL token for your participation on our innovative platform...STEEM.
Please visit SteemTrail to get instructions on how to claim your TRAIL token today.
If you wish to learn more about receiving additional TRAIL tokens and SteemTrail, stop by and chat with us.
Happy TRAIL!
AWESOME..!! Thanks. Stephen
Damn, I sold BTC at Coinbase last night for $1134, now it's $934 :)
Then buy it again. ;)
Another great article. I had a conversation with another friend on here last night about the same thing. Since the late 70's banking became America's #1 industry. Banks operate by lending (debt). This is especially true when you factor in fractional reserve banking. I know this sounds simplistic, but I'm used to teaching people with NO background in economics so I apologize for the simplicity. You cannot have an economy based on debt, at least not for long. At some level you have to produce something...except perhaps in some Keynesian Utopia. Derivatives are without a doubt the absolute worst thing to happen to our economic system. It's like gambling with no rules. Like Ron Paul and others say; it's not a question of if, it's a question of when the house of cards will collapse.
Thanks for the reply. I tweeted your response. I hope you don't mind. Thanks for the support. I appreciate it. Stephen
The full tweet is here....
https://twitter.com/StephenPKendal/status/817016492294291458
Thank you Stephen...I've closed my Twitter account because I don't like censorship. I'm phasing out my Facebook except I have good friends there from long ago. I like this platform, there seem to be more erudite people here.
STEEMIT is the way to go 100%..!! A Decentralised Social Media Platform is how Social Media ought to have been from the outset and not a conditioned environment. Give it 3-5 years and everyone will be on STEEMIT..!! Stephen
Disclaimer: I am just a bot trying to be helpful.
Shared on twitter. Thanks again for all the support. Stephen
https://twitter.com/StephenPKendal/status/816989286524452864
Disclaimer: I am just a bot trying to be helpful.
This post has been ranked within the top 10 most undervalued posts in the second half of Jan 05. We estimate that this post is undervalued by $25.75 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Jan 05 - Part II. You can also read about some of our methodology, data analysis and technical details in our initial post.
If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.
I don't think so, it is just digital version of currency.
Faced with the reality of the facts, it shows that our society is becoming aware of where we are and where we are going, and change is not future, it is really present, gold is simply a metal that thanks to our human mind we turn it into something Precious and valuable, but our evolution is playing strong again, Bitcoin and blockchain was not collected from the earth or in a mine there in South Africa or in Guyana to give it a status of value, is that Bitcoin is a creation of the human mind , And that is the detail that makes it even more valuable, than any other system already used in our history from bartering through gold to the very same debit or credit cards. So you can ignite all the alarms of the planet, they are the sound of the success that has the technological technological consensus at the moment and thanks to God when a paradigm is changing towards its new form nothing can stop it.
_______________________________________________Ante la realidad de los hechos, se demuestra que nuestra sociedad esta tomando conciencia de donde estamos y hacia donde vamos, ya el cambio no es futuro, realmente es presente, el oro es simplemente un metal que gracias a nuestra mente humana lo convertimos en algo precioso y valioso, pero nuestra evolución esta jugando fuerte de nuevo, Bitcoin y blockchain no fue recogido de la tierra o en una mina por alla en Surafrica o en Guayana para darle un status de valor, es que Bitcoin es una creacion de la mente humana, y ese es el detalle que lo hace aun mas valioso, que cualquier otro sistema ya utilizado en nuestra historia desde el trueque pasando por el oro hasta las mismisimas tarjetas de debito o credito. Asi que se pueden prender todas las alarmas del planeta, son el sonido del exito que tiene el consenso tecnologico financiero en este momento y gracias a Dios cuando un paradigma esta cambiando hacia su nueva forma nada lo puede detener.
Maybe so, we're just not there yet...maybe not for some time, even with exponential adoption ...if such adoption does happen.