Hello everyone, my name is Geoff. I have been involved with Bitcoin since roughly 2012. I am involved with the local bitcoin community in Denver, Colorado and I also run a small bitcoin business centered around peer 2 peer trading on Localbitcoins & Paxful.
Bitcoin/Crypto are truly revolutionary and have had a greatly positive impact on my life and many others. I couldn't imagine my life without having discovered Bitcoin.
Crypto is revolutionary technology and it will have a great impact on the world and the future of our society. It is surely a bumpy ride, but in the end we will all have collectively accomplished something amazing together that no one could have foreseen.
In this post I will analyze the present state of Planet Earth in 2017, the state of the global FIAT debt based currency systems that the majority of the world are currently using, and the risks and opportunities for Bitcoin & Crypto in general in our present atmosphere.
So, without further ado:
Bitcoin, Cryptocurrency & the Future of Planet Earth 2017 - Risks & Opportunities
Part 1 - The State of Planet Earth 2017
A world of mixed polarity, and a kaleidoscope of differing experiences
Wow. So, where to even begin describing the state of our World today? Earth is an incredibly diverse planet where the range of experiences vary wildly from country to country. Some people live in abject poverty with no clear way out and few options, their children dying of thirst and hunger due to a lack of resources, while others live in War-Torn countries with little to no stability and where a majority of the population don't even have access to the Internet, let alone have the opportunity to even possess just a fraction of a bitcoin. Others live in more stable countries, where resources are plentiful and people generally have all the luxuries they need to live life comfortably. We are the lucky ones, the ones who's biggest worry is how long it will take for a Bitcoin transaction to confirm when buying your morning cup of coffee.
If for just a moment, you were to step outside of your personal bubble that we live in inside the Western hemisphere, you will find a planet that is crumbling at the seams, plagued by many problems which must be resolved for the Human race to move forward, together, as a species. War, environmental concerns, pollution, Tyranny, and Oppression are all serious problems that the common man faces. True, you can live in your bubble, content with what you have, but only until the day when it all comes crashing down around you. Which will almost certainly happen - Sooner or later.
Bitcoin can't help everyone, but it can improve our lives greatly (it already has) and provide a way of life for those of us who have chosen to master Crypto. More importantly, if applied on a Global scale it can serve to break the system of financially tyranny & oppression that is represented by the Central Banking systems & FIAT debt-based currencies of the world.
Speaking of the Traditional Financial Industry, signs are now everywhere that the Debt-backed currencies of the world are finally starting to hit their breaking point. More and more, central governments are implementing financial controls to prevent bank runs, eliminating Cash, and preparing for financial calamity and increased financial controls. This is good for Bitcoin, because people will naturally seek an alternative, and you can bet that Bitcoin will go Up everytime there is a major financial crisis. But this is not good for the average person, who will suffer.
There is no denying that the Endless Greed of the Central Banking families, and their endless armies of crony capitalist thugs & gangsters, is one of the biggest threats to our sovereignty today. If we are not careful, if we do not find a way to challenge the traditional financial industry and bring it to its knees we could all end up enslaved by Debt for generations to come. Indeed, entire wars are sometimes launched on the behalf of the Financial industry, with millions of lives ruined just to enforce this system of global financial tyranny.
Part 2 - The Traditional Financial Industry - AKA a system of Global Financial Tyranny
Just look at for example, Libya, which was bombed back to the stone age by the US / NATO in 2011 in support of a color revolution to overthrow their leader, Muammar Gaddafi. It is no coincidence that shortly before this "color revolution" suddenly appeared, Gaddafi had announced his country's intention to start issuing a Gold-Backed currency, the Libyan Dinar, which would have been in direct competition with the US Dollar and other Western currencies who's use is widespread throughout Africa. If the Libyan Dinar, backed by Gold had been successful it could have broken the traditional financial industry's stranglehold of Debt & Control over the entire continent of Africa. For the Western countries and their Central Banking systems, this was unacceptable. So, Gaddafi had to go, and the US/NATO bombed Libya relentlessly to make it happen, in support of an insurgency which we now know was mostly a combination of obscure warlords that lived in the outskirts of Libya and Radical Islamist Terrorists linked to Al-Qaeda.
The United States & NATO, quite literally, flew close air support bombing missions for Al-Qaeda & other radical islamists, and various warlords, all to overthrow the Libyan government and replace them so that the Gold-Backed Libyan Dinar would never come to be. There were other reasons too, of course, but this was one of the biggest ones.
source: http://www.foreignpolicyjournal.com/201 ... ervention/
The FIAT & Debt-Based currencies, issued by the Federal Reserve & Central Banks, have become a global instrument of financial tyranny & oppression which, quite literally, are used to enslave entire countries and their populations to the will of the Central Bankers and the corporations which are backed by them. It is physically impossible for all these countries to repay their debts, and the Bankers know it. So they wield Debt over the heads of these countries like a weapon and threaten them with consequences if their demands are not yielded to. Furthermore, this Debt generated by the World Bank & IMF is also used as an excuse to seize valuable physical properties & resources from target countries, such as the special private islands in Greece and the valuable agricultural farmland in Ukraine, which are being seized by the International Monetary Fund as "repayment" for Debt that could never be physically be paid back anyway. Entire countries' resources are exploited with no return to their indigenous peoples, as "repayment" for Debt that has been forced onto them, one way or another. And in this way many African countries and many others are looted of all their precious physical resources by Western corporations, practically for free, with absolutely nothing given back in return to the People of those countries.
http://www.globalresearch.ca/ukraine-ag ... mf/5424058
But I guess these countries should consider themselves "lucky" that they were even given money to develop their countries in the first place. Even if as a result of taking loans, these countries are stripped of all sovereignty, all control over their own national resources, and the people forced into poverty for decades to come. At least, that's how a Banker would look at it. But of course, we Bitcoiners should know - it is morally wrong and maybe even downright Evil to give loans out like candy with the intention of using those loans to screw over their countries for Decades to come. Especially when you consider, it doesn't actually *cost* the Loan issuer anything to give out a loan. The money is freshly printed, generated out of thin air - and in return, the IMF, the World Bank, all expect to be Repaid, and if it can't be repaid in hard currency, well then too bad - We will take your resources, take your most precious land, and Exploit everything there is to be exploited on your land, all so that Western companies can reap huge profits in the billions, all done on the cheap. Everything of value is confiscated to "repay" the debt.
They will even, on some occasions, privatize your water or other utilities to western corporations and jack up your utility bills so High that your people can barely even Live, as a way to "repay" the debt.
source: https://newint.org/blog/majority/2011/0 ... atization/
quote from the article:
"But the trick is that Niger, as well as many other countries, receives World Bank/IMF funds on condition that their utilities, including water, are privatized. Privatization of water is also one of the main demands the G8 leaders are imposing on countries seeking debt relief and further aid.
Since 1992, six privatization contracts were awarded to foreign, mainly French, companies in South Africa. The losers of this affair are the poor communities for whom the right to water – a fundamental and inalienable human right – is denied. Following this, environmental pollution, preventable diseases and violence against neighbours increased. What decreased was the people’s dignity, because they’re forced to steal water from each other to survive."
By forcing these countries into humiliating perpetual debt, and reducing the quality of life in these countries as a result, it makes it very difficult for society to advance. It makes it very difficult to put an end to War when Poverty reigns supreme. How are we supposed to solve our social problems when you can't even get Water or other precious resources that are being denied?
Even more disturbingly, moves are now being made in Europe, Asia, and India to completely eliminate Cash. Although it has not yet happened in the United States, you can bet they will try it in the US eventually. If Cash is eliminated entirely, that leaves most people with only ONE option - to put all their money into a Bank to conduct transactions. This means total Government control & monitoring over EVERYONE's finances - and also the ability to completely confiscate ANYONE's money for whatever reason deemed necessary by the state. Any money in a bank account can be put on hold or confiscated at any time, for any reason. The main excuses for eliminating cash are typical - to prevent money laundering and to prevent the financing of terrorism. Maybe these excuses would make sense if the western countries themselves did not openly support terrorism to force regime change in Libya & Syria.
http://www.zerohedge.com/news/2016-12-0 ... irculation
https://dollarvigilante.com/blog/2016/1 ... world.html
http://theantimedia.org/indian-eliminat ... cent-cash/
And so the International Monetary Fund, the World Bank, and the Federal Reserve have all become actors and co-conspirators in a system which humiliates, enslaves, and forces entire countries and continents into endless cycles of Perpetual Debt with no end in sight.
I think any sane person would agree, this system of Global financial tyranny must come to an end. Debt must not be used as a weapon to Enslave entire countries and entire people's. The Greed of the Elite class of Central Bankers must be curtailed. They must not be allowed to destroy this planet and by extension all of our futures, all to satisfy their perverse, corrupt Greed which truly knows no bounds.
And now this is where Bitcoin, and Cryptocurrency in general, comes in.
Part 3 - The Role of Bitcoin & Cryptocurrency Moving Forward - Risks & Opportunities
Wow. So with all of these horrible things going on, suddenly a new competitor came on to the scene. An obscure new technology, released in 2009 which has gone from being worth pennies to now having a market cap worth some $20 billion as of 2017...
And my my does Bitcoin and the technology it has unleashed, Cryptocurrency, have a big role to play. Indeed, these are some very big shoes to fill, with consequences that could potentially be huge and affect the entire world.
Bitcoin/Crypto are extremely important for so many reasons.
-Be your own bank
-Store wealth digitally that only YOU control
-Generate (mine) your OWN currency
-Conduct transactions globally without using any FIAT at all
-Take away market share & control from the Banks
-Take Power & Control AWAY from world governments
-Put the Power of Wealth Generation & Control back into your own personal hands
-Have complete control over your own money
And so much more. But this is only a beginning. By enabling all of the points listed above, Bitcoin & Crypto in general suddenly become a vector that take freedom and privacy and put it back into the hands of the people. By providing a viable alternative to the traditional financial industry, Bitcoin suddenly becomes a major Powerhouse that can put the Central Banks & System of Global Financial Tyranny back where they belong - in the trashcan.
This is, ultimately, how it SHOULD be. People should have control over their OWN money without having to worry about confiscation or every single transaction being tracked by the government. These are basic rights which should be intrinsic to all people in all countries - the right to have freedom over your own finances, and the right to have sovereignty over your own financial transactions. But the governments and Central Banks of the world, do NOT want you to have that freedom.
By reducing the power of the FIAT currencies, by taking power away from the Central Banks, Cryptocurrency has the potential to become a global phenomenon that could change the world for Good. It will be very difficult to defeat the traditional financial industry, because they have control over entire governments and entire nations. But it is not impossible. Once the Genie is out of the Bottle, which it pretty much already is, it cannot be put back in.
And don't forget this amazing display from Roger Ver, which is absolutely correct:
If you take away the Banker's ability to endlessly print money, which is used to fund Wars all across the planet, then you take away the Government's ability to wage war, you take away their ability to even FUND those wars. Think about what the world would be like today if there were not endless wars being waged for seemingly no good reason across the planet. Think what it would be like if we had world peace. Bitcoin helps to make it possible.
There is, of course, the potential that the Central Governments will either attempt to ban Bitcoin or attempt to ban Crypto in their respective countries. But, I personally believe this to be a self-destructive action because how can you realistically ban people from using a program on their own personal computers? It would be like trying to ban the internet. They cannot mass arrest the millions of people who would simply ignore the law. There would be pushback, especially in the US and this could not be done at a political level without completely blowing away any illusions of so-called "democracy" and completely outing themselves as dictatorial fascists. You use our FIAT currency, OR ELSE! Please. Not going to happen, not on our watch.
The bigger threat, I believe is from over-regulation such as New York's Bitlicense, which is so restrictive that the vast majority of US-based bitcoin companies no longer do any business in New York, at all, Period. Because if they do, then they face fines and jail time. Now just imagine if these "regulations" were adopted at a national level in every state. It would be a nightmare, but Bitcoin would still overcome, thanks to its decentralized nature.
The Blockstream Problem - Centralized Governance / Development
There is also another unexpected problem that must be discussed. And that can be tenderly called, "The Blockstream Problem."
I don't think any of us saw this coming. That a private company would come and take over Bitcoin's development, and force us all into a premature "fee-market" based on an obscure 1mb cap that was meant to prevent spam, not control Bitcoin's economics, wasn't predicted by any of us. This exposes the problems with centralized governance / software development of Bitcoin - What happens when you get a bunch of idiots who come and take over the development cycle and screw things up seemingly on purpose? How do you get rid of them?
If you take an objective look at Blockstream's actions so far, it becomes apparent that they are attempting to limit Bitcoin's userbase / growth as much as possible. This is slowly backfiring on them, as Bitcoin Unlimited now gains increased mining hashpower & market share. But, we've a long way still to go here.
It would seem that BlockstreamCore is more interested in satisfying their pathetic, vaulted egos than helping Bitcoin become all it can be. They engage in deception and censorship, and even open lies, which have become well noted. For these reasons, Blockstream cannot be trusted and I personally believe they must be removed from the equation entirely.
There is no time to waste on Bitcoin becoming successful on a global scale. People are suffering ALL OVER THE WORLD and what do these fools at Blockstream do? They engage in endless circular logic and refuse to compromise even in the slightest. Meanwhile, the World suffers.
The bottom line is that if these charlatans succeed in hamstringing Bitcoin's potential, if they succeed in preventing Bitcoin from becoming the globally transacted peer 2 peer electronic cash system that it was truly MEANT to be, then it will backfire on them and BlockstreamCore will be left in the dust. People aren't stupid. People will move to another Coin once Bitcoin truly becomes too limited and too expensive to use. It doesn't matter if it's Monero or some other coin. People will use something else and an altcoin will become the dominant #1 and some altcoin will fulfill Bitcoin's role as being the Number One Globally Transacted peer2peer electronic cash system.
Either way, it won't make a huge difference in the long run. Crypto will reign supreme. We, collectively, working together, have the Power to make it happen.
Part 4 - Conclusion
All of the above paints an incredible picture of the current state of our World's Reality. There is much to worry about but also much Hope.
If Crypto succeeds, which I believe it will, then we can collectively challenge the Power of the Banks and the Financial Industry, who thrive on screwing over as much of the World's population as humanly possible. If they can be defeated, then power can be returned to the people and gradually, bit by bit, we can Heal the world's problems, one by one, piece by piece, brick by brick a new foundation can be built that will positively encourage people to take their Freedom and their Sovereignty into their own hands.
The People of this World have the Power to take back everything that is rightfully theirs, to take back everything which has been stolen by the Oppressor class of the Banking Elite.
There are so many challenges facing the world today. But these challenges are not insurmountable, because the peoples of this world possess more power than they know. If they can be polarized and woken up to this Power, then there is not a single oppressive force on this planet that could not be overcome.
Bitcoin / Crypto play an important role in this process. Perhaps even more important than most have realized.
My advice - Keep doing what you are doing. Do everything you can to support bitcoin. Run your business. Run your node. Run your miner. No matter what happens, do not lose hope! Because in the end, we will overcome this ugly, evil, oppressive apparatus which currently has so much of the world locked in a tight grip of control.
Thank you all for your time and I hope you found my words encouraging.