Thread: Cryptocurrency
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Old 19-08-2017, 08:24 AM
Lorelyen
Posts: n/a
 
Various financial organisations are considering taking this idea up, even looking at the software. Effectively they do this now as "banking" and money moving becomes increasingly electronic. There are plenty of recent reports about this and/or financial outfits creating their own. The difference is that no one firm controls bitcoin. However, there's speculation that things might change as it becomes mainstream.

Call it crypto- whatever, it's still just a currency subject to rises and falls and exchange rates just like any other. Where it differs is allowing people to hold it anonymously and spend it anonymously usually through the dark web where it's particularly useful to pay for prohibited things. Not much different from cash in a way, an anonymous buffer...something governments hate because they can't control or even know what people are doing finance-wise (esp the tax people); and hated by banks as it represents the second biggest cost to them, after staff. Dad who's in finance, sometimes talks about this. I don't think either parent have any holding in bitcoin if so they never told me!

Interesting to see how it pans out. It will have to remain clandestine to avoid attention from the "power structure" as you call it.

I can vaguely see this as a "spirituality" issue but only just. Money is there to allow people to trade their labour for things they need. A buffer. The Romans found it easier than turning up at the toga shop asking for a tunic hoping to pay with a goat. Yes sir - your tunic and two chickens and a hamster change.


Last edited by Lorelyen : 19-08-2017 at 10:07 AM.