Fighting the Government other than opting out of cash is a losing battle
I was chatting with Gary, the co-partner of the company I used to work for last week. Our conversation was over the state of the global economy. We went as far as chatting briefly on how Zimbabwe used to be the bread basket of Africa being a nation with the most fertile lands on the continent. Zimbabwe's economy now no disrespect is nothing to write home about. Nigeria is following suit on that part being a nation so rich in crude oil amongst other resources.
The state of countries hard hit by economic crisis due to mismanagement and embezzlement calls for its citizens to fight the government. Fighting the government in most cases have always been through riots, protests etc but we all no the out come of it, either you get arrested, beaten up, eliminated from the planet or locked away or government comes up with a solution of giving people what they want and they turn around and take more out of people via other means.
For some of us we have come to realize these tricks while some are still faithful citizens trusting the governments with every fibre of their being.
So what do the ordinary citizen do? The reality is there almost nothing one can do until now. Until now because we now have a tool to our advantage, a tool given to us by Satoshi Nakamoto, a tool we can build and keep developing to our advantage just like the birth of Hive and other good decentralized blockchain projects out there.
There is a devaluation of currency," Pomliano said in his July 18 livestream. "The whole secret to building wealth is to get out of cash and get into assets that are denominated in dollars that will continue to go up in value over long periods of time — stocks, real estate, gold, Bitcoin, all this stuff.
Source
This where the power of blockchain technology and cryptocurrency comes in. For those of us that are here already it will be to our best interest to stay in the mix and keep amassing our favorite coins/tokens we definitely do not no which one will be of success in the future but it worth amassing and diversifying.
Fighting the government at their game is a losing battle.
Cheers.
We owe it to ourselves to make Hive great
Posh
There’s no point In fighting they a one trick pony and will keep doing the same thing over and over till it implodes! I say stack your Sats and build a life raft for yourself when it all comes crashing down you have the resources to go where you are treated best and get the most value
is a line you have used in more than one occasion lately and I am loving it. It is inclined to my thoughts.
Lol if you remember it,you will avoid ALOT of bad deals in life
In agreement with you on that one!
Worst HODL of all time ? Local currency. Even USD lost 95% of its value over 100 years...
Not the case for stocks, real estate or gold that went up in usd terms !
It all began with losing its value from 1%, there is no assurance the USD will not lose further as QE continues to be the tool for government and I don't see other way of safe guarding ourselves other than some gold and cryptocurrency.
Even the gold one does not know which one is real as the Chines dump billions of fake gold in the market the other day.
One have to be careful of whats real and not this days. Crazy world!
While completely opting out of fiat is probably best in a country like Zimbabwe, I think there's a case to be made to keep some cash handy for those living in countries where fiat depreciate at a much slower rate...
Besides, the USD is used alongside gold as a SOV in many 3rd world countries, I've lived in Asia for years and people love to buy USD so I think we should all calm down with this "opt out of fiat now" hysteria, especially when coming from someone living in the West.
Good point you highlighted, the reality remains we are still using fiat as our day today means on transaction. I mean you can't buy bread in almost all part of the world with cryptocurrency, only few places has that opportunity and few people can.
The idea is not to opt out completely but as for me personally it is something I need to keep in mind. Have some worthless fiat for me to spend and have some of my funds cryptocurrency.
Yup, it's all about building a robust and risk adjusted portfolio, counteracting the eroding effect of inflation while reducing opportunity cost, more an art than a science haha
You couldn't have said it better!