Dispelling the Myth That Bitcoin Proponents Want a Cashless Society

Bitcoin and a large number of other cryptocurrencies are electronic versions of the currency. Many people mistakenly assume that crypto proponents are for a cashless society, and this is certainly not the case.

If we remove the central bank pressure fiasco and inflationary practices from cash, we all know that cash is great for anonymity and fungibility. But nation states and central bank cabal are responsible for the game of fiat, and today's monetary system is associated with serious manipulation and inflation.

Most crypto supporters don't support this just because they support an electronic currency Removal of cash. But there is little that anyone can do to stop the government from doing so go cashless.

Now we all know that cash is great (besides inflationary aspects), but we also know that cryptocurrencies are even better. Crypto transactions like Bitcoin (BTC) do not have to be electronic every time someone makes transactions.

With cryptos like Bitcoin, we can create all kinds of bearer bond instruments. A digital asset can be hidden in a mnemonic phrase, and most seeds are based on 12, 18, or 24 word phrases tied to their private keys.

The use of mnemonics or "memoria technica" dates from the time of the ancient Greeks, when Aristotle and Plato philosophized about certain types of logic. The photo below is an illustration of the Ankle mnemonicsThis indicates the number of days in each month of the Gregorian calendar.

Any amount of crypto, such as a billion dollar crypto assets, can be stored in a mnemonic.

This means you can keep a billion dollars hidden in a bookor even memory if you have decent photographic memory. Bitcoin can be printed on paper, metal, plastic, and people can make all kinds of money instruments.

Individuals also store mnemonic seed words using metal devices to protect funds from water and fire damage. Paper wallets like garbage can be destroyed by water and fire.

Just like gold, carrying a wad of cash can be quite cumbersome now. You can't travel lightly with a billion dollars in cash in a few pockets. You also need to be vigilant and protective, and someone can take your wad of money like a robber or even law enforcement. For example, the US agency Homeland Security confiscated $ 2 billion in cash of travelers over six years at US airports.

But think about what I just said. You can save any amount of money on a piece of paper. On a small square made of aluminum. You can write 12 words on a piece of paper and give tens of thousands of dollars to a family member – without asking questions.

Paper wallets can be created with most crypto assets like Bitcoin (BTC), Ether (ETH), Bitcoin cash (BCH), monero (XMR) and litecoin (LTC).

You don't need duffle bags with loot, just use a mnemonic or a piece of paper.

Hiding crypto is extremely easy and someone can even do it using steganographic tools. A million dollars literally hidden in sight. Steganography is the art of hiding pictures, messages, files or videos. The practice of disguising news in this way was first mentioned in 440 BC. Chr. Recorded.

So cryptocurrencies are in many ways an advanced form of cash, and you just don't know all the options if you think crypto people are "against cash". That is simply not true.

To a large extent, digital currencies are simply a better form of money, and many people haven't figured it out yet. And that's okay, we have a lot of time to teach and they have a lot of time to listen. But it's just not true that crypto advocates help the global elite create a cashless society. Supporters of digital currencies can easily create all types of market-based monetary instruments.

What do you think of the fact that cryptocurrency supporters can easily create bearer bond instruments? Let us know in the comments below.

Image credits: Shutterstock, Pixabay, Wiki Commons





Source link

Be the first to comment

Leave a Reply

Your email address will not be published.


*