I’m only disappointed that Seth and David didn’t talk about the possibility of freedom crypto money that has the potential to shut the central banksters down.
An aside:
The crypto called qort is associated with qortal network (its free software downloadable at that link), another blockchain and crypto project that has potential to replace the internet, with their own decentralized browser, ability to create websites, “domains” owned for life for only $1 (as opposed to having to pay rental fees on the regular internet every few years) etc……
You can also download Bastyon’s free software, from which you have ability to download a decentralized app that replaces social media on a decentralized blockchain, similar to qortal network, except qortal does BOTH social media & websites, plus you can trade qort for Bitcoin, Litecoin, etc ... right in the UI created for qortal.
End aside
Bitcoin (BTC) done right had/has the potential to destroy central banksters, and I still own some BTC, but Roger Ver’s book, “Hijacking Bitcoin”, helped me understand better the weaknesses of Bitcoin and “freedom” crypto in general.
Bitcoin cash (BCH) forked from Bitcoin in 2017 and seems to encapsulate Satoshi’s vision better than most. Of course those who fork want to sell their own network. I am not naive about that. But the reasons to fork are important to understand because people don't go to the effort of creating their own clone of BTC unless they have good reasons and think they can profit.
BCH is not owned by anyone, anymore than BTC, so no one man is getting rich, because there is no corporation to own. Those who own BCH only make money if people like their coin and start to use it, because it naturally becomes more valuable, as demand increases. Both BTC and BCH were exactly the same code and network until 2017. They split over philosophical differences about block/transaction size limits. The block size is intentionally kept small in BTC to promote higher fees. BCH allows higher block size so a larger number of transactions can go through, hence cheaper.
One has to intuitively guess how the future may go:
BTC continues to charge very high fees that get higher as bitcoin creation diminishes, ending around the year 2140. The philosophy is that bitcoin creation reward will disappear one day, so they need to compensate by charging very high fees to directly access the network. Layer two solutions can be created for cheaper everyday use of BTC, which bitcoiners are gambling will be successful. So far, this is not certain and has not happened, as people can't use BTC for everyday things because the fees are too high
BCH may catch on as a much more scalable solution that exists right now. The fees are low and transactions fast, making more practical for everyday use. Expensive layer two solutions that central banksters can control are not as necessary, though BCH can make use of such too, if such is necessary and expedient. In this philosophy, if all 8 billion people in the world used BCH, then the fees could stay really low and make it back in volume, and we can get rid of the tyranny of central banksters. That was Satoshi's original vision. As it is, BTC seems marching towards continued high fees to price common people out of the market and rely on corporations that make layer two solutions that the controllers control.
I think the same thing can happen as with physical gold, where BTC becomes a digital gold store of value, but cheaper layer two solutions eventually make it appear to be very similar to BCH. As of right now, it is more obvious that BTC is too expensive compared to BCH for everyday use. But if big government and big institutions and big money support BTC, as seems to be happening, they can build layer two solutions to satisfy the masses temporarily, who don't understand or care much, as long as it works. This effort helps to keep the banksters relevant & needed (which they are not), so along with the good potential of BTC, there is also infiltration & co-opting happening.
Eventually, the establishment rulers can do like in 1971 and just decouple bitcoin, like they did with physical gold, which Nixon took off the gold standard in 1971 and US dollars could no longer be exchanged for gold. BTC will probably still go up in the years ahead, but then again, maybe not, if people start learning the fine details.
Here is a thought experiment: what if the reverse had happened, and BTC created their own network off of BCH, who had really cheap fees. BCH was gaining in popularity, was cheap, fast, starting to be used in many businesses (eg MicroSoft even took BTC for a time) and treated like cash, and then BTC decided to start a similar network BUT they changed the BTC code to charge really high fees, the network was slow, not practical for every day use, but they pushed a narrative that said it could store value and eventually cheap layer two solutions could make it practical one day. Which do you think would continue to gain in popularity and which would die?
Since this did not happen, and BTC has the lead, the "powers that shouldn't be" have moved to censorship, narrative spin, smear campaigns, etc..... and BCH might only grow as people start to understand the complexities a little more.
Usually, if you destroy the user’s experience, you can destroy your business. But human psychology is human psychology and Bitcoin is still #1 by market cap.
Similarly, human psychology will help you sell more of your product at $19.99 versus $20.00, as subconsciously the brain thinks it is cheaper but it is not. Humans are subconsciously emotionally driven. VHS won out over Beta, even though Beta was better. Everybody has heard of Prozac, but “me-too” drug Luvox is less well known. The first to market usually wins because of the human “emotionally-driven” & “sentimental/follow-the-herd” decision making factor(s).
Anyway, I strongly suggest my readers check out David Webb’s site www.thegreattaking.com, for some traditional banking expert advice. And, of course, I recommend reading “Hijacking Bitcoin” by Roger Ver for some Bitcoin insights.
In the years ahead, we can only hope BTC and/or BCH, or some other truly 100% decentralized digital money brings true financial freedom to all common people. If the public masses got behind a non-bank created money like BTC and/or BCH, and stopped using their fake fiat dollars, which can be created at will (unlike BCH & BTC), the world could put the parasite banks (and their lap dog governments) out of business …… the business of brutalizing average, good, decent, people.
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