Can Mass Adoption of Bitcoin Kill You?

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Avatar for Jnavedan
2 years ago

Dangerous Bitcoin?

If someone or something wanted or could kill you, what would you do about it? Would you defend yourself, or would you run away? The answer will be an expression of the natural survival instinct.

Of course, defending yourself or fleeing from a threat from the social construct is not always so easy. In essence, the current social structure is supposed to provide protection and security.

In this sense, when you read a headline like the following:

Chinese Economist Says if Bitcoin Is Widely Adopted: 'We're All Going to Die, This Is not a Joke'

https://news.bitcoin.com/chinese-economist-if-bitcoin-is-widely-adopted-were-all-going-to-die-this-is-not-a-joke/

You wonder, "what is the Chinese academic based on to affirm such a blunt and worrying sentence?"

I'm not exaggerating! Anything that has the potential to kill you must be taken seriously.

I hear you say to me, “Don't be crazy, don't be alarmed! That's pure Chinese propaganda, and you don't live in China."

You will agree with me that the emerging power to fill the vacancy of the United States is China.

Well, that's what the mainstream claims, even in the soup.

And as far as I know, the communist ideal is to spread all over the world. In addition, the powers have always exported the lifestyle model to the entire area of ​​influence. Why will today be different?

But, what did Qu Qiang say according to the news?

“Bitcoin has a very, very strict, limited total number, which means this is a deflation currency,” noting that it will not expand the amount as human development grows.

Consequently, he asserted that with bitcoin adoption, our society will fall into “a death spiral of deflation.” He elaborated: “The whole society is going to shrink and self-explode. That’s what happened at the end of the Ming dynasty when they were short on silver.”

I did a cursory review on other digital media, and it's pretty much a carbon copy. Well, I understand that millennials and later generations do not understand the expression, "carbon copy." Excuse me, I am from the previous generation, and before the rise of the PC, the typewriter was used. LOL

https://cryptopress.network/were-all-going-to-die-this-is-not-a-joke-featured-bitcoin-news/

Do you understand like me? He says that Bitcoin, being scarce and limited, will acquire value over time. That is, Bitcoin is a deflationary currency. The inverse of the inflationary currency, and therefore the world will collapse by depressing the economy if it adopts it.

I ask you now, do you believe him?

Well, I do not. Although, I do not stop belittling the message hidden in the propaganda.

According to Qu Qiang, the deflation of Bitcoin will be the main cause of the decline of humanity. A stage in the style of Dante.

Well, it's what they want you to believe.

In this sense, you necessarily have to distinguish between inflation and deflation and why they manifest themselves.

With inflation, your money is worthless; that is, it loses purchasing power, and for deflation, your money acquires greater purchasing power over time.

Both phenomena carry pros and cons. But what is the ideal?

Common sense says: A permanent balance must be established between supply and demand, in this case, monetary in accordance with the production cycle.

Therefore, I do not see how the heck the Chinese economist established such a premise. If inflation is the result of the issuance of infinite money without a back, it seems that finite money with a back would be the solution.

The cause of any debacle will be the imbalance of the productive system and monetary management.

So why is Bitcoin dangerous and killer?

You see! Here is a cat locked up.

Bitcoin is not dangerous for you, but for them, it is.

What will happen if Bitcoin is not adopted is the collapse of the last hope of genuine freedom.

Source: Photo by Nick Fewings on Unsplash

Does Bitcoin represent freedom?

I want to clarify for you. I do not have any animosity towards the Chinese government or against any other state, be it right or left.

Sometimes, I repeat like a parrot that they are all wings of the same bird. Think about it for a moment. Governments have superficial differences, but deep down, they all apply the same scheme.

In this sense, they only re-accommodate and move, in a coordinated way, giving you bread and circuses.

Are you a newbie and unaware of the original philosophy of Bitcoin? I invite you to read Satoshi Nakamoto's whitepaper or any of the excellent articles available here at read.cash on the subject.

I would like to recommend some authors, but it would be unfair to many others, whom I admire for their unique perspective. Perhaps, you should read some of @MarcDeMesel 's articles and the trail of tips dispensed to authors. I think you will have more clarity if you follow it.

The crux behind the technical paraphernalia that you may find, and the diatribes that have occurred since its origin, is the recovery of freedom over the handling of the money that Bitcoin gives you.

Think again. Why does your bank impose on you the how, when, and the amount that you can use if you need it?

Could it be that it is not your bank? On the contrary, you belong to the bank. Either for a real estate loan or because it manages your funds through policies that you accepted without the right to reply.

Precisely, Bitcoin was born after the real estate crisis of 2008. The explosion of the real estate bubble; uncovered how the system favors those who cause the crisis depriving many people of their assets. It even swept the pension funds to save these institutions of supposed trust.

You may have heard about the controversy of who created Bitcoin. Well, interesting though, I think, at this point in the game it's irrelevant. The important thing is that it is a threat to the system.

Why?

Simple, my friend, Bitcoin gives you the freedom to use money.

Yes, Bitcoin is a disruptive technology. In the hands of the people, it takes power away from governments, banks, and corporations. Sounds great.

Bitcoin is just a medium. It is neither good nor bad; it is up to you to put it to the proper use; it is up to you to be free or slave.

Source: Photo by Clay Banks on Unsplash

Closing thoughts

So the mass adoption of Bitcoin will not destroy our civilization as Qu Qiang claims. Well, I think it will depend on which Bitcoin you support.

I can see your expression. Please, don't look at me like that.

If you are familiar with the history of Bitcoin hard forks and the rise of the rest of the cryptocurrencies; you will understand me perfectly. If not, I recommend you read the @CryptoMax article "The ULTIMATE Whitepaper on Why BCH is Bitcoin: 14 Reasons BTC is an ALT" or watch its allusive video that I leave you below.

In conclusion, the affirmation of the Chinese State through one of its spokesmen is part of the propaganda plan. No government likes the unlocking potential that cryptocurrencies provide, especially those bearing the Bitcoin name.

Bitcoin (BTC), although it sells it to us as a threat to totalitarian plans, it is not. They are very conscious, so they need it to collapse on a scheduled basis.

The projects that terrify you are those that like Bitcoin Cash creep under the shadow.

Right now, I remember a movie from 1987: "The Immortals." Special men fight each other until they cut their throats (The only way to end their immortality), Well, in the end, there should only be one left.

In the field of cryptocurrencies, it shouldn't be like that. I think that the more coins there are, according to their use, the better. A single thought, like a single currency in common use, will have its advantages, but it has in its genes the potential to end innovation and freedom.

The real Bitcoin (BCH) is my candidate to prevail in this battle. The prize, freedom.

The massive adoption of Bitcoin Cash will not kill you. On the contrary, it is a means to your salvation.

An original article by @Jnavedan

Cover photo by Nick Fewings on Unsplash

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Avatar for Jnavedan
2 years ago

Comments

im gonna be on my yacht packed with guns and paperwallets.

$ 0.00
2 years ago

Applause,you are right Chinese Communist want full control of Bitcoin.As number of miners are Chinese.They have a big game changer role.In the same way,I love to any crypto if it give to me Freedom of money.Sir @Marc and Sir @Colin articles are fountain of guide for me.

$ 0.00
2 years ago

Impressive... But if Bitcoin becomes dangerous, I guess it's not about the inflationary issue... But on how it is generated.. The mining.. It's the dangerous part and can even destroy the world if Bitcoin will be adopted by all countries. Although it will stop by 2024, but the damage will surely give a negative impact to the world.

$ 0.00
2 years ago

Bitcoin, as it is now, will not destroy anything if nothing more it will destroy itself because at some point no one will be able to use it just like it is happening to Ethereum as well.

Now Bitcoin Cash on the other hand has the potential to do that just kill you if you don't hold it that is, you see the transition from fiat to Bitcoin BCH as a global currency won't be easy, those that depend on fiat for their pensions will be the first to go.

Many pensioners get their payments thanks to money printing, but what happens when everybody that is not a pensioner realizes that that money is worthless they don't it, so if people didn't invest into having their own source of income when old they will be the first to hurt.

Imagine you worked 40+ years and paid up into a pension plan and now your pension is worthless, fiat currencies will always exist the only problem is that they will lose value constantly, pretty much if you want to survive a future where Bitcoin takes over you need to start by looking how people in Venezuela and Zimbabwe are doing because that's pretty much the future with fiat currencies.

Now once the transition phase is over and Bitcoin is accepted as a payment many will try to hoard it but you will also have to buy what you need with the same currency, so salaries will adjust as well as prices for goods and services, and since it is limited supply those that save will get a reward at the end of their saving phase as well. You will save and your money won't devalue, and products and services will have to last more than today.

It will be like in the gold standard era, products would last an eternity so that you spend your precious satoshis, and those that save will have rewards over the years.

The ones that will die out or will have to evolve will be those that live off the government and have a parasite-like life, those will have to swing or sink.

If you are young and strong and can work you better work and save up as many satoshis as you can, and those who are about to retire should look into investing their retirement into assets that last like land and other tangible goods like gold and silver.

The ones that will suffer the most are the ones that depend only on the government everyone else will just adapt. Look at Venezuelans they left their jobs at the government because their salary was worth nothing, that they were able to work, the problem is for those who are old already and that are receiving retirement payments already because those payments in Bolivar Peso are worthless.

The same will be once Bitcoin BCH takes over the world. You will have to work for your satoshis and if you think you don't want that to happen you better off just putting some $1000 into the future and wait, in the meantime continue working and saving money to invest into productive assets.

$ 0.00
2 years ago