+ Clouds swirl over the atlantic from a satellite photo showing the weather pattern that influences the Earth's seasonal habits.
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This week was both a reality check and an eye opener to the amount of power invested in the emerging digital money industry and world economy. Where has all of this power and investment actually come from? Perhaps it came from money invested by the hundreds of millions of unique #KYC controls across the spectrum of the largest advertising campaign in human history? Just how much Bitcoin related advertising has been in the average internet customers reach in the past week?
The money being invested in #Bitcoin is real money. Money made from real economic activities of people around the world. These investments in new digital currencies are a means of preserving the value of the money supply away from the unchecked financial industry in hopes to incentivize its evolution to services that work for those supplying the resources. That is my argument for buying the currency, I came up with it off the top of my head, but when is the last time you heard a justification to buy-in that involved explaining anything?
Advertisements and journalism related to crypto-currencies aimed at appealing to internet user's use of the coin is at an all time high. These very advertisers and journalists should remember the unknown consequences of the decisions of their customers. While the product may be digital it is being bought with real money that goes on to be spent again. The #transactions within the network is not recorded as USD related economic activity. Money is only what is accepted as money. If we are switching to #Bitcoin as the world's reserve currency how fast will this happen, for the majority of the worlds money is held by the top internet users, it could happen with as little as the decision of under a dozen users. How do we know it has not happened already?
The transactions within the network is not recorded as #USD related economic activity
The money trail of this industry is developing and it is not hard to see the plays of the big money players in the world that are dying to hold on to power. Last week the advertising of digital money went into overdrive. #CNW will explore the topic of #Bitcoin, A chronicle of who when where and why in the coming weeks.
With real money there is real consequences on the environment, culture, and peoples lives. We have seen the detrimental effects of large corporate monopolies in the banking, industry, and regulation sections of the economy. It is possible to calculate the amount of resources needed to complete the #bitcoin block chain network, but it is not possible to predict how much these resources will cost in the future and will will be the cost of extracting them? Has the economy of the #USD network not been governed by an equally unaccountable network of wealth creation? Only time will tell.
The potential for government abuse of this network before completion is massive, it has a 1/100 chance of ever being completed before it is taken over by force. Hide your keys now before its too late.
@godohttps://en.wikipedia.org/wiki/Know_your_customer
CNW™ _________10-12-17
