Cryptocurrencies and all that

Ethereum price PLUMMETS: Cryptocurrency value drops MASSIVE 16 per cent in under 24 hours

I’m not even going to try to start understanding what this is all about. There is a thing called “horses for courses” and this is not my course, not within my sphere of competence.

Thus, when haiku wrote this, I said to myself – uh huh:

I must admit to but a passing interest in Bitcoin, and that from a technical POV. So the following cause me by surprise:

Basically the populist movement differs in each country, as it should. According to Steve, central banks are in the business of debasing currencies as the business and political classes are debasing citizenship, making us slaves. He compared the new serfdom to the pre French Revolution situation, with Google, Amazon, and Facebook living it up in Versailles, urging us to eat cake. The Time’s Up movement he likened to the French Revolution. What will us from the ogres, always according to Steve, is the new currency. This I found very interesting.

I understand currencies as well as I comprehend modern technology-i.e., zero. I nevertheless am still capable of not thinking of women long enough to concentrate, and here are the results: Entrepreneurs are now selling their own virtual currencies to raise money for software that they say they are building. In return for real money, investors receive digital tokens, similar to Bitcoin.

These coin offerings rose out of nowhere last year to become a popular way for start-ups to raise tens of millions of dollars. That leaves bankers out of the loop, and entrepreneurs free to practice free enterprise.

Steve Bannon is all for it, and I am also behind it, however little I understand, and it is very, very little. But it makes sense-the freeing of the serfs, that is-so I’m all for it. Apparently there are already eight virtual currencies making the rounds, and all the Bitcoins in the world are worth around $185 billion. Caramba, as they say in Mexico.

A parallel currency can create liquidity and overcome the credit crunch for small Italian and Greek companies that the E.U. has hog-tied to the euro. A parallel currency would also slowly break the chokehold of the European Central Bank and Berlin, a fact that Brussels views as anathema.

Yanis Varoufakis, who briefly served the Greek turncoat and sellout Tsipras as finance minister, advocated something similar until Tsipras was ordered by Brussels to get rid of the pest. Which he did, immediately after saluting.

To you of course – this might have been the most game-changing moment.

4 comments for “Cryptocurrencies and all that

  1. Mark in Mayenne
    March 18, 2018 at 11:27

    Maybe. But I don’t see banks, who have LOTS of munny, and who pay lots of tax, and who sponsor politics, taking this lying down.

    Cryptos are most likely being used, sometimes, for laundering and governments tend not to like this. Expect draconian regulation sometime soon, in the name of public safety.

  2. james wilson
    March 19, 2018 at 00:34

    I spoke to a knowledgeable IT guy last week about the cryptos. He runs a small IT company servicing business, and trades on the side in cryptos to get a feel for them while investigating what each one is about. The greatest challenges to alternate currencies are the exact reason that they are being formed in the first place. Escape from dollar, euro, or other currency domination and manipulation, taxes, regulation, and the growing all seeing eye of government. Government has a great interest in seeing that there is no escape. These companies are tackling different aspects of the challenges. The book is out on them, but the fight is on.
    It seems pretty clear that one enemy of government–cash–was growing nearer to extinction, but the appearance of crypos may alone stall that.

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