Nations can't pay off debt when the money is a debt based instrument. Its a central bank illusion. Its like paying off IOUs with more IOUs and thinking you can get ahead.
Every year more debt enters the system by design. Bankersters have been using this scheme for thousands of years.
Sound Money is our second amendment.
Example:
BTC = Handgun
Gold = Rifle
Silver = Shotgun
Gold = Rifle
Silver = Shotgun
BTC = AK47
BTC w/ Lightning and Chaumian CoinJoin = Recreational McNuke
This wins me no friends on here but LTC is sound money. Network isnt as big as BTC but the fundamentals behind it can't be ignored. It copied BTC and is the second oldest crypto. It survives because it maintains the core sound money values.
Says who? (not being snarky)
Every one of these innovations has multiple forms/representations
"Commoditzing" electricity in a sound money asset while maintaining a network is the value in the space.
I can keep money in LTC and the state can't shut it down. That's value.
I definitely am not advocating for tons of coins, I just can't ignore that LTC hasn't died yet and at some point it has to be viewed differently.
@AnonByNature @richd Who says there can be only one supermassive black hole in the center of a galaxy? Nobody, that's just how it works.
Network effects in money work like gravity when people are free to choose.
We will have to agree to disagree on this one. I see the space developing more like real estate then social media.
Real Estate development has centralized design at the start but then decentralized parties are able to add/change as needed.
Social Media development is entirely centralized (as of now).
We will never see everyone agree on anything, so the idea of it happening with BTC seems unlikely.
BTC IS THE FOUNDATION. Please don't think I am minimizing it.
Do you think BTC overtakes Gold?
How long do you think it takes?
Countries are accumulating Gold hand over fist right now. China is swapping dollars for real assets currently and some finance commentators theorize the Yuan has a gold peg.
https://www.gold.org/research/gold-demand-trends/gold-demand-trends-q1-2018/central-banks
https://www.zerohedge.com/news/2018-07-25/potential-impacts-yuan-gold-peg
Central bank gold demand sees impressive 42% growth totalling 116.5t. Russia, Turkey and Kazakhstan lead healthy demand accounting for nearly 50% of net purchases over the last five years. Get the full picture in Gold Demand Trends. Download or read online.
AnonByNature
MarcDW ⚡ [nowallet.org]
mydogisahusky