(JaiChai) - "Musings over Gold, Silver and Bitcoin"
A response to a great question by @betablocker (torum.com):
"Gold, silver, bitcoin? I think I'd remove silver from that list regardless of the media attention it's had lately."
If the European elite hadn't squelched the nascent United States from promoting silver - which is more abundant than Gold in the U.S. - and fiercely ensured the Gold Standard around the world remained, the whole history of the Global Monetary System would have been quite different.
Alas, even with its utility rivaling that of gold, silver has always been a "second class" citizen of the precious metals and currency-backing family.
Did you know that the "Wizard of Oz" was its author's (L. Francis Baum) veiled protest over the oppression of silver and Europe's draconian system of Gold supremacy!
See this article I wrote almost 3 years ago:
"(IJCH) Gold, Silver and The Wizard of OZ (or How To Protest Monetary Policy with a Children's Book!)"
To answer @betablocker's question:
Imagine this.
In a post-fiat world, we'll likely see "A rhyming of History" yet again.
A Cryptocurrency (whichever becomes the quickest, cheapest and most interoperable with other blockchains - especially the blockchains of major CBDCs) will be the Global Reserve currency and be backed by Bitcoin.
There will be a worldwide trillion Bitcoin Crypto Bond, Crypto Forex and Crypto Derivatives markets.
Hopefully, permissioned DLTs and centralized cloud services will be the minority; while the majority of exchanges, OTC and banks will be DEX and DAO setups - run by governance protocols vice a CEO and Board of Directors.
Hope this information was useful for you.
May you and yours be well and love life today.
In lak'ech, JaiChai
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By JaiChai
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Believing that school was too boring, he dropped out of High School early; only to earn an AA, BS and MBA in less than 4 years much later in life – while working full-time as a Navy/Marine Corps Medic.
In spite of a fear of heights and deep water, he performed high altitude, free-fall parachute jumps and hazardous diving ops in deep, open ocean water.
After 24 years of active duty, he retired in Asia.
Since then, he's been a full-time, single papa and actively pursuing his varied passions (Writing, Disruptive Technology, Computer Science and Cryptocurrency - plus more hobbies too boring or bizarre for most folk).
He lives on an island paradise with his girlfriend, teenage daughter and two dogs.
JaiChai 3-6-2021. Simultaneous multi-site submissions posted. All rights reserved.