Understanding Cryptocurrency...Revolutionising the Money-go-Round

Submitted by Open on Fri, 02/07/2014 - 11:59

Rise of the crypto-currencies In my article Gaia's Dramatic Healing, I spoke of change happening strongly in the underlying flow that's going to put huge pressure on out-dated systems of inequity - like the financial system. Because of excess consumerism beyond what the world can sustain, and excessive unsustainable borrowing through unreal money printing, economies are teetering on the brink. What we need is a revolution that takes people away from the Central Banking Monopoly where 'energy' exchange has been hijacked by the 'Banksters' essentially frauding people on a mass scale. Well perhaps with the new 'crypto-currencies' that revolution has already begun...

Bazaar Mentality

The Bazaar mentality of exchanging goods and services has been in the human psyche from an early time. Exchange between one another creates great uplifting feedback loops when they are fair, equitable and mutually supporting. Then printed money came along and changed all that - radically! Printed money is really just a promise to pay, issued by the original banks in return for a deposit of gold. So in this way, money was 'pegged' to the value of gold which people then began to exchange without need to exchange the gold itself. It also added greater flexibility than just simply bartering. And since there was only a finite supply of the precious metal, then the value of the money would remain consistent. This was all fine (to a degree) until in 1971 the US unilaterally terminated convertability of the Dollar (the global reserve currency) to Gold. The currency would now float freely in value and together with the Fractional Reserve Banking, essentially meant that through the Central Banks, Governments could literally create money out of thin air in order to fuel their political - and frequently short term - aspirations. As ever more money is printed, over time its value decreases through the inflationary effect on dwindling natural resources.

In effect, both the people and the planet are being held hostage by a system that owns all the resources and makes people work ever harder for less. The situation is worsened by the fact that the central banks are mostly privately owned organisations whose purpose is to make profit for a small group of share holders.


How can we change this unbalanced and vastly inequitable money-go-round?

Birth of the crypto currency

The problem for our ancient 'Bazaar' roots of equitable exchange, is that it's been hijacked by a third party that's replaced the fair value exchange for printed paper, which it then continues to devalue by printing ever more of.

  • What if instead we could have an agreed exchange directly between people cutting out the greedy and deceptive middle man?
  • What if the cost of such exchange could be extremely low rather than the current exorbitant exchange commissions?
  • What if the amount issued of that currency could be limited to a pre-agreed sum so that it cannot be ridiculously devalued in the way that fiat (paper) money is being?


If people used such a currency - in agreement between themselves - and then started transferring trade to that system, it would greatly diminish the power of the Central Banks and the unfair involvement of corporations within government. You and I would decide between us what the value of goods and services should be without any interfering (and very greedy) middle man. Sound too good to be true? Well such 'crypto currencies' have already been growing strongly for some time. Like for example 'bitcoin'. It's a digital currency, which you can buy for your rapidly devaluing fiat money. You can then send packets of it anywhere in the world instantly at the click of a button to someone else who has an online bitcoin wallet, or to a virtual shop owner. Although in its early days, more and more vendors are now taking payment this way and the value of bitcoin skyrocketed over the course of the last few years. Although I hasten to add in these early days, it's value is fluctuating quite wildly as with any early adopter that has to iron out unforeseen glitches.

Unstable waters?

"Instability! Criminality!" are classic cries by the state run media due to the unregulated and anonymous nature of trading. Personally I find that quite ironic and even hypocritical when you consider the outright fleecing that is institutionalised into the very bedrock of the state controlled system.

  • It certainly hasn't stopped me investigating and exploring this new exchange paradigm. Especially as I can already feel a crunch coming sometime soon in the global fiat monetary system. When it goes down, as it surely will, I'd like to be able to continue to exchange fairly with awakening souls overseas. It's quite a strong imperative of my soul to connect. And as yet, I still have to live in world where I need to obtain and consume resources - albeit in a much more sustainable and fair way.


Fair exchange

So I see the emergence of new online currencies outside of the controlling regulation (the hyperinflationary 'stealing') by governments and banks as a great way to begin a new financial revolution by the people which serves the people as opposed to corporations. And we're also seeing the emergence of local currencies which can have the same effect. That's not to mention good old bartering which is once more on the rise and always reintroduced when the bubble of paper money explodes. So I encourage us all to look for the new ways to revolutionise the money go round. Finally you might find this cryptocurrency video by the Mythical Good Morning crew both informative and funny. Roll on the revolution!...

Open (on behalf of Openhand)

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