Can cryptocurrencies really save us in the next finantial crisis?

in cryptocurrency •  2 years ago  (edited)

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What many non main stream experts are saying is that we are heading for the biggest crash in history of humanity where the objective is implementing a global currency (which already exists and is called SDR) and having the bureaucrats in the UN taking more power from governments. To do this they have to reset the economic system, destroying all current FIAT currencies and bailing-IN all financial institutions (i.e. confiscating deposits and floating the banks with our savings and retirement money, allowing people to only get the monthly allowance that they consider fit). Initially it would seem that cryptocurrencies could save us from all this and I was believing that would be the case, but now I have my doubts.

Right now governments are in a world wide war on cash because they need all the FIAT currency to be in digital form so it can be easily "confiscated". If all FIAT is electronic they only need to block the bank accounts and put a maximum on credit card spending or withdrawals, they have done this already in Greece, which many think has been a controlled test of what is to come worldwide. As people realise of this risk, it could be that BTC and other cryptocurrencies really go main stream on the believe that it will make them immune to the confiscation.

But, what if they already have a plan also for cryptocurrencies? Cryptocurrencies have a single point of failure which is Internet, if they are already blocking bank accounts, blocking Internet temporarily would be a minor problem for most people. Also we know that BTC is not exactly anonymous and that unless you take extreme measures it is possible to trace back BTC addresses and transactions to people and businesses. They already do it in TOR so they probably can do it in blockchain.

So in theory, if they want, they could remove your access to your BTCs and then they could monitor transactions to take whatever taxation or legal measures they want to approve in a new "Patriotic Act". Furthermore, if they can do this, BTC will in fact work as a honeypot where the government could identify those that tried to "scape" from the system. Also big exchanges act almost as banks and they could be controlled by goverments to implement also the bail-in, that is, confiscating your BTCs.

Gold and Silver would probably be targeted also like it happened in 1933 with Roosevelt when ownership was banned, but with silver and gold, being something physical, is easier to hide or trade "illegally" if there is real necessity.

What do you think? Can cryptocurrencies really save us or not?

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Great post!
Upvoted and resteemed (reblogged)!

Steem on,
Mike

Alright.

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