Do you hear the uproar from the bankers all over the world?
I have to give them a lot of credit, they are waging a good fight. To a less knowledgeable person, it almost seems as if they can win. They are really pulling out all the stops. It appears they have a plan and are working it.
Of course, there is no plan. Do you know what they are doing instead?
Mourning.
That is right. The banksters are going through the stages of mourning. It is so obvious to witness it is almost comical.
Let us take a lot at a couple of them:
Denial: Bitcoin will not work
Anger: Bitcoin is a fraud
Bargaining: Blockchain is good, bitcoin bad.
Depression: ????
Acceptance: ?????
Why do I make such a bold statement?
I do such simply because I understand when a particular foe enters an industry, the deal is done.
Before getting to that, let us look at a couple facts. There are roughly 3.5B people on the Internet today. What is interesting is only about a billion of them have access to legitimate banking (well as legitimate as banksters can be). In most countries, if there is a banking system, the line of corruption does not even exist. In other words, there is no pretending. The crooks are in openly in charge.
The situation gets even worse for the other 4B people who don't even have access to even a corrupt banking system. These people are in a cash only situation. There is no money transfer, no savings, nor anyway to exchange other than face-to-face transactions.
This leaves a lot of people out of the system.
Yet that is all changing. Today, a smartphone with an App is a bank. Think about that. With Bitcoin, as an example, a Xapo wallet is a bank. It enables one to send money to another person or entity. Reversing direction the person can receive money and, of course, it can be stored in the wallet. These are all things that a bank does. Going one step further, banks traditionally operate as third party verification outlets. That Xapo wallet on a smartphone in the middle of wherever can verify the transaction simply because it is connected to the blockchain. The blockchain itself does the verifying.
So let me ask you, what do you think will happen when 6B out of the 7B on this planet start using the new "banking" system? Do you think part of the other 1B will follow? Of course they will.
Why do I make this statement?
Simple, there is a track record of what people do.
Do you watch Netflix or go out and rent video cassettes/DVDs?
Do most people get their news from the newspaper?
How many people are still writing letters to each other?
When was the last time you went out and bought a music CD?
Do you see what all these situations have in common?
The reason I make these bold claims is because the evidence is very clear what happens when the Internet enters one's industry. Mass destruction is the only result. One only needs to look at Sears and Toy's R Us to see the devastation.
Blockbuster is no longer around because the Internet changed viewing.
Online news sources and commentary obliterated a large portion of the newspaper industry while changing the face of journalism.
Email eliminated writing letters and online portals ended getting bills in the mail.
Streaming of music basically wiped out stores that sold music.
Cryptocurrency is called digital money. It is the money of the Internet. The world of financial transactions is going online and it is not requiring the banking establishment. The banksters established a closed system whereby they controlled the currency and were the authority figure over the system. It was they who determined the ones who got to play or not. They were the gatekeeper, open and closing it as they saw fit.
Enter cryptocurrency.
This digital, de-centralized money which has no leaders. It morphs, forks, and reproduces almost daily. Something like this could have no value. How does something like this have value without authority? It is the authority of the Central Bank or the government that gives money value, isn't it?
No, what gives money value is the use of it. People determine the value of it by their choice to use it. With cryptocurrency, people are choosing what they want to do with money. Some like STEEM, others Bitcoin, Ethereum, Litecoin, Zcash, etc... All are digital currencies that fit the definition of Internet money.
What is a poor bankster to do? Attack Bitcoin? Which is the real Bitcoin? Depending upon who you ask, you could get one of 5 answers. Which is the real Ethereum? Again, depends upon who you ask. What is going to happen with the other 1,000 cryptocurrencies that are already out there? What happens when Justin Bieber created a token that his fans use to purchase his music, stuff from his store, or concert tickets?
"The Justin Bieber token is a fraud; but we like blockchain." -Jamie Dimon
Just wait until the talking heads on the news and business shows start spouting off how the Bieber token is used only for drugs, hookers, and other illegal activities.
Sounds ridiculous doesn't it?
There are over 1,000 blockchains in existence. In a year or two we will see 10,000 blockchains...100K within 5 years and 1M blockchains within 10 years. All will be tokenized serving different purposes and groups. People will choose which tokens where they go online which will determine the token of choice.
What is a poor bankster to do? The world is throwing a party in his house and didn't even ask permission.
That is the way the Internet operates. It does not ask permission; it does not give warning; and it has no compassion. It simply enters the room and destroys the existing industry usually without so much as a fight.
The existing arrogance of the businesses and their leaders often makes them blind to what is taking place.
In this battle, never bet against the Internet...you will lose.
Just like the banksters.
R.I.P.
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