5 reasons every Objectivist needs to pay attention to cryptocurrencies
Within the past 2 weeks, something "clicked" with my understanding and interest on cryptocurrencies. Now I am convinced that this is a disruptive innovation that will transform our world. It's like the creation of the internet, but for money. Objectivists and capitalists, more than anyone, should appreciate what a revolution in money can mean for our society.
Here are more reasons I urge everyone here to pay attention to this technology:
1. Cryptocurrencies are the free market applied to currency.
Research this and you'll see what I mean. Currency monopolies are in BIG TROUBLE. This is both scary and exhilarating. Those who understand this need to decide what kind of system they want to put their money into.
2. Cryptocurrency fans and advocates openly discuss and celebrate the prospect of DITCHING FIAT CURRENCIES.
There are more educated / aware / rational people out there than we may have appreciated.
3. Cryptocurrencies can operate outside of and independent of any government.
Yes this does also mean they can operate outside of any regulation or established authorities. But how well have those done for us lately!?!?
4. Cryptocurrencies can be based on absolute and inherent facts of reality.
There are rational reasons why currencies have value. Each person needs to understand cryptocurrencies enough to know how they honor and maintain the features of a viable currency. Not all cryptocurrencies are created equal. Same with traditional currencies, right?
5. My short list of key features & benefits of cryptocurrencies that made it "click" for me.
When I connected all of these dots, the situation became obvious to me. Maybe these will make sense to you too.
a. computers and computational power has inherent value in our society today
b. privacy and digital security have unique value in our society today, and it is only going to increase in value
c. defining a medium of exchange that is free from manipulation, corruption, and inflation is incredibly valuable
d. much of the world's population has no access to reliable or accessible banking. (And they will sooner have access to a handheld internet device.)
e. Speed of financial transactions across geographic boundaries is an incredible benefit and value in our digital world
f. In a digital economy, a digital currency just makes sense.
DISCLAIMER: I am not a certified financial advisor and nothing I say here is considered to be financial advice. Also, if you rely on disclaimers from federally-regulated authorities you have surrendered the most important authority and are probably too far gone to appreciate what I gave you in this post. :-)
This is my perspective on things. Want someone else's? Here is a 7-minute video segment of Ronnie Moas. He is rated the 8th best financial advisor in the world based on his financial predictions & recommendations from 2008-2017. His projections and justifications should capture your attention and interest.
https://www.youtube.com/watch?v=2H6zz...
I expect this post will spark a lively discussion and set of comments. That will be nice to see. Don't expect much engagement from me in those responses please. I'm not posting to persuade or debate.
More than any of that, I hope this post sparks a greater amount of RATIONAL THOUGHT.
Then DECISIONS. Then ACTION.
I don't want my fellow travelers to be left in the dark. Or left the dust heap of economic history.
Here are more reasons I urge everyone here to pay attention to this technology:
1. Cryptocurrencies are the free market applied to currency.
Research this and you'll see what I mean. Currency monopolies are in BIG TROUBLE. This is both scary and exhilarating. Those who understand this need to decide what kind of system they want to put their money into.
2. Cryptocurrency fans and advocates openly discuss and celebrate the prospect of DITCHING FIAT CURRENCIES.
There are more educated / aware / rational people out there than we may have appreciated.
3. Cryptocurrencies can operate outside of and independent of any government.
Yes this does also mean they can operate outside of any regulation or established authorities. But how well have those done for us lately!?!?
4. Cryptocurrencies can be based on absolute and inherent facts of reality.
There are rational reasons why currencies have value. Each person needs to understand cryptocurrencies enough to know how they honor and maintain the features of a viable currency. Not all cryptocurrencies are created equal. Same with traditional currencies, right?
5. My short list of key features & benefits of cryptocurrencies that made it "click" for me.
When I connected all of these dots, the situation became obvious to me. Maybe these will make sense to you too.
a. computers and computational power has inherent value in our society today
b. privacy and digital security have unique value in our society today, and it is only going to increase in value
c. defining a medium of exchange that is free from manipulation, corruption, and inflation is incredibly valuable
d. much of the world's population has no access to reliable or accessible banking. (And they will sooner have access to a handheld internet device.)
e. Speed of financial transactions across geographic boundaries is an incredible benefit and value in our digital world
f. In a digital economy, a digital currency just makes sense.
DISCLAIMER: I am not a certified financial advisor and nothing I say here is considered to be financial advice. Also, if you rely on disclaimers from federally-regulated authorities you have surrendered the most important authority and are probably too far gone to appreciate what I gave you in this post. :-)
This is my perspective on things. Want someone else's? Here is a 7-minute video segment of Ronnie Moas. He is rated the 8th best financial advisor in the world based on his financial predictions & recommendations from 2008-2017. His projections and justifications should capture your attention and interest.
https://www.youtube.com/watch?v=2H6zz...
I expect this post will spark a lively discussion and set of comments. That will be nice to see. Don't expect much engagement from me in those responses please. I'm not posting to persuade or debate.
More than any of that, I hope this post sparks a greater amount of RATIONAL THOUGHT.
Then DECISIONS. Then ACTION.
I don't want my fellow travelers to be left in the dark. Or left the dust heap of economic history.
