Why Do We Need Cryptocurrency?

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10 months ago

In recent years, we can observe such phenomena as invasion of privacy, censorship, inflation and control over the population in general. With the advent of new technologies, all this is only increasing. This is caused by new crises, which the state itself creates, and then comes to resolve them with such methods.

The viewers of my channel are mostly enlightened people who go their own way, and not where some shepherd pointed them. Therefore, we need to understand new technologies not only to avoid being a victim of such processes, but also to use them in our own (personal, selfish :) ) interests, and not in the interests of shepherds who drive the flock to the corral, and then to the slaughterhouse.

And so today we will talk about such a relatively new phenomenon as cryptocurrencies. This phenomenon is increasingly penetrating into our lives, and therefore we must understand their meaning, goals and capabilities, so as not only to avoid ending up in fools, but also to put them at the service of ourselves, and not puppeteers.

The first thing we need to understand is that fiat currencies (that is, dollars, euros, rubles), whether they are in a bank (and now we are not talking about three-liter banks :)) or in our pocket, are not our money. We are just allowed to use it, and it can always be taken away or not allowed to be used on pretexts such as money laundering or terrorist financing. Russians, especially those who lived in the 90s, are well aware of how easily their savings are taken away with the help of inflation, which is launched by the true money masters. And now, many are faced with the fact that such a thing as "bank secrecy" has somehow quietly ceased to exist, and now every transaction, whether it's buying food in a supermarket or transferring to a friend for some of his services, is under the supervision of not only banks but also states.

Therefore, now there are talks that it would be nice for us to return to the use of cash, as in the good old days, in spite of the desire of the authorities to drive us into cashless payments. You and I know that it so happened historically that people in Russia hate the authorities (albeit on the sly, in conversations in the kitchen), and therefore it is a pleasure for them to do something to spite the authorities. Indeed, cash payments are much more difficult to trace, so they allow you to have some degree of privacy. But cash can only be transferred from hand to hand and cannot be transferred across the distance from Vasya in Bobruisk to... Nadia in Kirov :). And most importantly, using cash, we are dependent on the central bank that prints it. And this central bank (that is, some Vasya Pupkin, who is in charge there) can easily get into your pocket and halve its contents, simply by printing and carefully cutting the same amount of paper. And such unscrupulous robbery has already happened repeatedly over the past decades, which Russians are well aware of in their own skin and their own stomachs.

And what are we to do about it then? Can we somehow show the middle finger to all these bankers who are eager to make us happy with convenient payment methods? Let's see if cryptocurrencies can help us with this.

It turns out that we need a means of payment that:

1) It does not have any central body, which, as is now customary to say, would centrally make decisions on monetary policy and actually own this means of payment.

2) It does not require any personal data to be linked, so that even a passport is not needed, to the requirement of which by banks we all got used to for a long time. This will keep our privacy.

3) Which could be easily, quickly, reliably, and, importantly, cheaply (or better free of charge) transferred from one user to another, regardless of distance.

Gold satisfies the first two points. It has no central body to produce it. It was mined by everyone who could, especially during the Gold Rush. And just like cash, it did not require any passports, because it was passed from hand to hand. But on the third point, gold loses even to cash. Transferring gold across a distance is very expensive and inconvenient.

Cash satisfies only the second point, and payments through banks satisfy only the third point, and then only partially, because it is not always cheap, and not always reliable - the bank can reject the payment for a million different reasons.

Let's look at cryptocurrencies now. And so you need to look at them very carefully, and analyze each cryptocurrency separately with passion, to what extent it satisfies all these three points. These are the topics for the next videos, in which we will find such cryptocurrencies, and we will send the unfit ones to junk. And now we will formulate the criteria by which we will select cryptocurrencies that can serve as money and can eliminate the shortcomings of all old money, and thereby displace them. (Of course, the masters of the old money will fiercely resist this displacement, which is already happening.)

So, here they are, these criteria.

- Have a limited number of coins. No one can print more than this amount of money, thereby depreciating them (that is, they do not have inflation).

- Have a relatively uniform distribution of coins among users, with no concentration of wealth in narrow circles, especially among authors and developers. With a tendency to spread to more and more people.

- Have a high degree of decentralization, that is, the fate of this payment system and its functioning is determined by a large number of different people living in different places on the Earth and not affiliated with each other, and each user can easily participate if they wish.

- Allow you to perform quick transactions for a penny or even for free.

- Have no geographic restrictions. You can freely send cryptocurrency to any user around the world.

- Censorship resistant. No account can be frozen. It is impossible for anyone to block access to someone’s money or prohibit certain transactions.

- Allow you to transfer money directly without middlemen, without banks, and without a central bank that would print money.

- Security is guaranteed by the blockchain - a distributed ledger of transactions. All records in the blockchain are immutable, they cannot be deleted or falsified. A transaction that has already been sent cannot be reversed. The seller can be sure that he received his money and it will not be taken back.

- To create a wallet there is no need to provide any documents anywhere. No bureaucracy and barriers.

- Already has acceptance in the world for making payments in stores. It is accepted not only in online stores, but also in physical points of sale (shops).

If someone wants to suggest some other important criteria, write in the comments.

If we identify such cryptocurrencies and start using them with each other wherever it is convenient, we can make these cryptocurrencies a fact that has entered people's lives and create demand for payments with these cryptocurrencies among the general public. Then it will be impossible to stop the arrival of new, perfect money. There will be such a quiet revolution. True, it will not be quiet anyway, because the old (in any sense, by the way) masters of the old money will fiercely resist with various repressive measures, using scraps of their former power, which they will have less and less.

$ 2.38
$ 2.32 from @TheRandomRewarder
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$ 0.01 from @Anabiya
Avatar for Awesome_Blogika
10 months ago