How should a Global Currency Reset affect the way you view Money?
Time and time again, history has seen displacement in the largest governments and greatest rulers. America is no exception. As to when a downfall, or at least a shift in power would occur is hard to say. Since the U.S. Dollar is the world’s strongest currency backed heavily by banks and financial institutions, it stands to lose the most power. Take a look at the uncertainty governments are starting to face and how a Global Currency Reset can solve this disease.
Government, Banks, and the Inflation Problem
Governments, including the United States, have been dealing with financial crises for centuries. It usually involves some sort of health pandemic or overvalued assets that affects the majority of the population. What you might not be paying attention to is that because of the globalization of commerce through the internet, regulations and valuations are becoming more transparent. And you will find that large entities such as government and large businesses don’t like transparency.
Currency is a form of loyalty to a nation or state that you trust to handle carefully. And in return, the powers be of this currency will remain in charge if they don’t upset their citizens (i.e. a revolt or revolution). Furthermore, there are currency exchanges that charge hefty fees between nation states. Inflation, conversion fees, and taxes seem to be the norm we’ve come to expect.
And for the longest time governments could place restrictions on trade between each other, or charge heftier taxes based on foreign relations with the other country. But what happens when one of the countries gets out of hand with printing their own currency? What if the higher-ups continue to siphon money to give themselves perks? Well, then that country couldn’t be trusted, and less people should be loyal to their currency. This would not only be called inflation, but hyperinflation. A Global Currency Reset would solve this problem!!
How does this affect me?
Well, if you were born and raised in the USA, then you are probably loyal to some extent to the United States government. And because you are a citizen, they have some power over you in terms of financial decision making, regardless of if or how you vote. Higher taxes, lower taxes, you still pay quite a bit in taxes. But there is one way that can help prevent you from paying so much. Enter assets.
Assets are primarily valued not only by the US economy, but by the whole world. This way it hedges against the typical 2-3% inflation that the US has seen over the last 20 to 30 years. And some assets do better than others!! Real Estate has been a pretty safe investment over the past few years. Gold is also standard worldwide and retains its value. But there is a new development over the last 10 years that has been quite volatile to say the least. However, all new things eventually cool off and normalize. This is true especially when they are built on sound principles. This leads to our next stop.
Bitcoin and Cryptocurrency
Bitcoin and Cryptocurrency are based on blockchain technology. What this means is that every transaction references the previous transaction, which makes the whole chain verifiable. It also uses encryption to make sure every transaction is secure. This technology has been adopted by the largest tech corporations across the globe for supply chain. Adding cryptocurrency as an option to existing payment technologies, or creating their own centralized cryptocurrency altogether is a step towards a more digital future. Wouldn’t you agree?
Despite having grown exponentially in valuation and adoption since inception, there still remains skeptics of Bitcoin and other cryptocurrencies. It may get a bad wrap because it hasn’t been understood very well… Or maybe governments have an agenda to stay in power. A power struggle between true democracy with decentralized currency would pose a risk to those already in power. (Just look at Venezuela and Turkey for crying out loud!)
What is Bitcoin?
Bitcoin is the Global Currency Reset.
Think about it. If there is a digital asset that is finite (only 21 million Bitcoins will ever be mined). If it resembles something like Gold (which is also limited, AND can be verified). And if it only becomes harder to hack over time (using global processing power along with SHA-256 encryption). Oh, and it can be easily transferrable more rapidly across the globe with smaller fees than currently exist? Let me tell you, this is not some sci-fi future yet to happen. The future is here and it has already chosen the leader in its Global Currency Reset. Bitcoin.
Ever since the world’s leading currency, the US Dollar, went off the gold standard, inflation has been rampant. It has been unstable. You see, Bitcoin currently has just over 18.5 million coins mined of the total possible 21 million. And because of diminishing returns in mining bitcoin blocks, more and more processing power is required to mine the remaining 2.5 million coins. It is estimated that it will take another 120 years to finish the job! This is literally the best hedge against hyperinflation! The slowing rise in Bitcoin circulation will provide stability to this new world-wide realm of digital finance. And as the corruption of governing authorities never seem to stop, having a decentralized program that runs open-sourced (which means it is overseen and approved by large groups worldwide) seems to be a much better approach.
Now, if you are already sold on Bitcoin, take into consideration Ethereum. Ethereum is the Yang to Bitcoin’s Ying. While Bitcoin is a finite asset, Ethereum is not. But it’s goal is not to merely hold value, but to tokenize value like a currency does today. But instead, it would be more mission oriented. Many other cryptocurrencies are based off of Ethereum, and their goal is summed up in the ability to build out use cases such as privacy, eco-friendly, fast transactions, as well as loyalty toward business and their ideals.
Much like Bitcoin, it will reshape how we think about money as a utility. Loyalty to a country in terms of monetary influence could be a thing of the past. The internet is used by everyone around the globe, hosted by different servers such that if one goes down, another one can be spun back up in its place. And in it is a population that is well over half of the entire world, and is still growing. That is way more than any one country! This is the globalization of commerce, markets, and nationality.
Two other notable cryptocurrency are Stablecoins and Central Bank Digital Currency (CBDC). Stablecoins are tied to a currency like the USD or EUR, so they retain that currencies value in a digital form. And CBDC’s are as stated, which means they would be tied to a nation’s central bank, like the Federal Reserve. China is also experimenting with a digital Yuan from its central bank. So basically they become the actual digital version of the currency itself, and can be manipulated and used by governments like they are now.
Currency Value, Current and Future
My old junior high mathematics teacher, Steve Hutsell, used to ask a question “What is something worth?” I was confused at the question. Because if I went to the store, the stickers told you what you are supposed to pay for the item. So I guessed whatever the store manager decided to set the price at. WRONG!! He wittingly replied “However much someone will pay for it!”. If a person has a use case for an item, they will decide how much they are going to pay for it. Nobody is going to buy a loaf of bread for $500 unless they are really needing food, they have the money, and there is no other way to get it.
Currency is only valued in countries where it is accepted. If you have a ton of Japanese Yen, you will have a hard time finding a place to take your money in the United States. But in the case of a Global Currency Reset, Bitcoin and other Cryptocurrency could be GLOBAL assets! The use case could be to avoid taxes, currency exchange rates, and move large amounts of money rapidly and securely, I would argue that Time and Security is what makes Bitcoin so valuable. This along with the fact that no corrupt bank or government can easily demand their own rules (such as inflation) because it benefits them. Government should act in the interest of the people as well as itself. And decentralization of money does this.
Because Time and Security is growing increasingly valuable in the instantaneous digital future of a global currency reset, I would argue that such an asset could unify the world in separating Money from State. The implications for governments would force them to listen to voices about world problems such as climate change, racial and gender inequality, and even war!
To top it all off, speculative predictions range anywhere from $50,000 to $1,000,000 over the next 1 to 10 years for Bitcoin. Ethereum would likely follow suit to some extent. Given how useful it can be once the finance industry fully catches up, THE SKY IS THE LIMIT!!
Integrations & Adoptions
Make no mistake, large banks and financial institutions are not inept to the wave of interest in more accessible and digital properties found in Cryptocurrency. CEOs of Paypal, Twitter, Square, Cash App, MicroStrategy, and Grayscale are paying attention to this trend!! J.P. Morgan has launched their JPM Coin. Mastercard has created a way to integrate cryptocurrency into payment cards. And Swipe has integrated with Visa for Cryptocurrency payment cards.
After reading that, you might just feel like you got rolled over by a Mack truck! How come nobody is telling us about this? Shouldn’t this be in the media yet if it is becoming so common place? Well, that old saying “Rome wasn’t build in a day” is fitting here. Because once Rome was built, it was there to stay! Bitcoin and Cryptocurrency integration will be the same way. It may take some time for common users to get their feet wet before they jump in. But let me tell you, the waters are already deep and still filling up quickly!
How do I get in NOW??
Such a great question! There are already several options!
- Exchanges (Can connect to a bank account)
- Interest Account (Must Transfer from an Exchange)
- Domain Address (a human readable address (i.e. michaelkelly.crypto), established on the blockchain. One-time purchase. **Otherwise a hash, a random string of letters and numbers, or QR code equivalent is your address.)
Welcome to the New Global Currency!
Read up on how and why to stay digitally secure from my previous post.
**The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.