I always got ta be honest. I wouldn’t really suggest using Bitcoin, in a ideal universe. I’m not meeting the first adopter profile (and I’m not a first adopter in fact. I’m actually counted as a second or even third tier). So far as investing is concerned, I will be much happier with a bond fund allowing a healthy 4 percent annum. I will be happy to be seated in an office working for a safe retirement and trying my utmost to show my employer satisfaction. I should be pleased to trust the structures of our community, legislative and financial, etc., to act with strong integrity in the public interest.
But, let’s accept the truth. Current US incomes have stagnated basically over forty years. Pensions and work stability have been reduced to the extent that virtually nothing of their future will feel safe. Massive financial sector manipulation contributed to company bailouts with minimal repercussions for anyone that precipitated the 2008 crisis. The nation is caught up in a perpetual political stalemate, with little desire to solve the country’s real problems. Or discuss them in a severe way. The overwhelming majority of legislators just have ears for people who have the resources and the ability to reach their positions. Once within, lawmakers slavishly pursue the interests of this privileged elite at the detriment of the overwhelming majority of citizens, the climate, and our nation-future. Corporations have already pretended to be law-abiding citizens to give themselves more freedoms and privileges, but instead pretend to be foreign to circumvent paying their fair share in favor of the country’s infrastructure that enables them to survive and flourish.Visit our website: bitcoinmaximalist.net
And amid widespread corporate and financial fraud the stock market has soared to historic levels. Who generates the trust? They are also in heavy unemployment. Development, at best, is anemic. Also the investment level performs good. There is something askew about it. All of this combined implies that bribery and not economics are the source of the wealth generated at the top. The same machine vulnerabilities which caused the last crash are still rife, and maybe even worse. In the not so near future we have yet another financial crisis going. The problem is not just when, but when.
That is what allows it a successful alternative it Bitcoin.
Maybe it’s inevitable that this type of digital currency would rise, peer to peer, but it’s the flaws in the current systems that give it a boost. As citizens lose confidence in government and banks, they will be searching for anything to offer more choices. They’ll see the benefits of avoiding credit card middleman. Foreign trades will continue to exist, avoiding the banks and wire services middlemen. With the destabilization of national currencies, they may continue to see an online, non-national currency as a viable reserve currency to protect against inflation, runs etc.
Because of the abuses in our current system, a momentum has developed for Bitcoin. The impetus is manifest destiny. That fate is that it will take its place as the real world reserve currency alongside the national currencies.
The currency can not be easily controlled by individuals or governments until it hits critical mass. It will give us a chance to change the method, not a promise but a chance.