Why Cryptocurrency?
Some say: Cryptocurrency is only used by drug dealers. And my reply is, But they roll up US dollars to snort cocaine, so let’s ban that first
Wrong Mindset
Some say “Cryptocurrency is only used by drug dealers”
And my reply is,“But they roll up US dollars to snort cocaine, so let’s ban that first”
Ok seriously, Why use Cryptocurrency?
Ownership
-You don’t own bank deposits, they can rip it away
Privacy
-You have no financial privacy with bank promises
Inflation
-They are inflating your life’s work. Politicians are urinating in your face
Genocide
-You’re supporting genocide. Wars only continue due to central banks buying bonds.
Global
-Cross-border payments are a bitch, but the internet is global.
This means you’re paying more for local labor, and losing out on foreign customers.
Banks are fundamentally corrupt
Inequality
When the central bank prints, even if stocks and bonds rise at the same rate as inflation, it creates inequality.
Think about it, if you have a billion dollars, do you really care if food for your family costs 7% more (a few thousand a year), when the Nasdaq is up 7% (millions in profit)?
Corrupt Premise
Banks borrow in the short-term, to lend in the long-term. The government prints money to lower the short-term rate, which allows the commercial banks to leech a higher profit margin by lending at the long-term rate. In other words, the government urinates in your face with inflation, to increase the bank’s profit spread (short term borrowing vs long term lending rates)
Right off the Press
-Banks borrow in the interbank, which you don’t have access to. So you’re literally letting them use fresh printed money first, and dribble it on you later when it’s worth less.
Don’t Pay FDIC
-American Banks don’t pay FDIC insurance on foreign deposits, but they still get bailed out on “eurodollar” deposits (for example 2009 & covid). This motivates them to take maximum offshore risk and pay nothing.
Summary
In summary, if you ignore crypto:
–You own nothing
–You’re missing out on critical thinking,
–Allowing Banks and the Government to abuse you
–You’re immoral
–You aid in Genocide
–You’re helping oppress the poor
And the only thing giving the dollar value is psychology. I do not accept fiat. I do not value it.
Give me Liberty, or give me Death.
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