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Sunday 13 May 2018

Separation of $ and State

'Unsurprisingly, global debt still would tower over the value of the cryptospace as it currently stands at $233 trillion, and continues to grow. Indeed, bitcoin should nicely accomplish the separation of money and state much as we have had separation of church and state. This will help put an end to central bank money printing which remains the biggest legalized Ponzi scheme ever. Meanwhile, as the renowned Naval Ravikant has said, "Bitcoin is freeing humanity from corrupt governments, all the while disguised as a Ponzi scheme." 

In the meantime, how do governments unwind the QE-generated debt without undoing the QE-bull market which began in 2009? According to Bridgewater's founder Ray Dalio, a major devaluation of fiat currencies is coming within the next few years as quantitative easing has failed to jump start the global economy even after nearly a decade of money printing. The cryptospace is likely to be the primary beneficiary of such a devaluation. Centralized systems which include centralized governments and corporations will pay the ultimate price since decentralized, open source, trustless, p2p, censorship resistant, private, secure protocols will always win over centralized, closed source, third party, insecure platforms'.

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