PERSONAL READINESS > Financial Prep
BitCoin
Flyin6:
I think it is time to move into this digital currency system
I have been looking into this for awhile and granted, there is a lot to learn but here are some takeaways from what I have learned
First of all, I think fiat money systems like the dollar are going to collapse. The reasons is that the dollar for example, is already bankrupt. It is only our belief in the system that keeps it functioning. We owe more than we can ever repay as a nation, and that is just a fact. Now if we start talking in terms of the age of the universe, in terms like that, it may be possible to repay the debt this nation owes.
Interest rates are low and in some cases the government pays just to borrow money. I think the writing is on the wall and it is only a matter of time. Survival will require not only a safe place with food and water, but some means to acquire the things we all need.
Our government is already moving toward a socialist system. We now pay vast numbers of people not to work through unemployment and covid relief payments. Many people are getting along quite nicely with what they get for doing nothing believing all the while that this ship will sail on forever. It will not, and suddenly those people will find themselves penniless in a country with depression like job markets.
Technology will drive the nail in the coffin of most of these unskilled people. I was just reading where trucking is the largest employer for most people in most states. Well, driverless trucking is fast approaching as technologies continue to refine the task of driving a truck. Imagine when that comes to fruition. Now you can operate the machine 24 hours a day. No rest stops, no drivers salaries, no paid benefits nor health costs. No retirement plans nor a host of other costs for companies moving freight. The freight companies themselves will become more efficient and profitable while the truckers who lost their jobs will be displaced.
Digital technology is going to take over most things and we are already in the midst of all of that.
Banks will fall apart as crypto currencies not subject to ATM fees or wiring fees, nor monthly maintenance fees start to dominate simply because they afford the user more savings, more control, and more security.
Crypto currencies can in some cases be traded anonymously, keeping prying eyes, be they internet crooks or your government, from knowing your business
For all these reasons and a few hundred more, I feel prudent folks had better jump on this ship before it sails. I look to a future of uncertainty where we must create our own stability, and this just may be a way to do that
cruizng:
I have also been looking at Crypto Currency for a while. I haven't put any money into it yet but it has matured a great deal over the past 5 years.
This guy in particular on the tube has quite a few videos on how to set it a wallet and actual use crypto currency.
https://www.youtube.com/c/CryptoDad/videos
You are correct that trucking is trying to go autonomous. I doubt we will see origin to destination fully automated in the next 10-15 years but they are moving the over the road option there the fastest. Similar to the old Yellow Freight days where you had over the road drivers take it to a terminal and the they would break bulk the freight and then deliver last mile or send it on to next terminal. I think you will see autonomous between terminals and then human drivers continue to do the last mile type of load completion. The trucks aren't the issue. It is mixing them with the 4 wheelers that is the biggest challenge. Oh, and they will be all electric too. :popcorn:
Flyin6:
--- Quote from: cruizng on December 14, 2020, 09:28:39 AM ---I have also been looking at Crypto Currency for a while. I haven't put any money into it yet but it has matured a great deal over the past 5 years.
This guy in particular on the tube has quite a few videos on how to set it a wallet and actual use crypto currency.
https://www.youtube.com/c/CryptoDad/videos
You are correct that trucking is trying to go autonomous. I doubt we will see origin to destination fully automated in the next 10-15 years but they are moving the over the road option there the fastest. Similar to the old Yellow Freight days where you had over the road drivers take it to a terminal and the they would break bulk the freight and then deliver last mile or send it on to next terminal. I think you will see autonomous between terminals and then human drivers continue to do the last mile type of load completion. The trucks aren't the issue. It is mixing them with the 4 wheelers that is the biggest challenge. Oh, and they will be all electric too. :popcorn:
--- End quote ---
And that alone Mike will reshape America profoundly
Another trend we will see more and more is making business transactions point to point and person to person which will kill off a lot of businesses
The taxi industry was both revoulitionized and then killed off by Uber.
Uber will be killed off when this BitCoin "Blockchain" is adapted to where Uber drivers, heck any driver can place himself up for hire and be directly contacted by another needing a ride. Skip the 25% that Uber takes off the top and you'll be able to access all sorts of information about the person you are hiring.
Blockchain technology as outlined in the BitCoin whitepaper will replace many companies.
I think this bitcoin which has a 62% market share will eventually replace currency. It's growth is unbelievable and in a decade or two, we will have an estimated 200,000 new millionaires/billionaires who are those who understood blockchain today.
In the beginning someone offered 10,000 BitCoin for a pizza. Today a single BitCoin is worth $19,100+
No place in the world has there been growth like that, and all because it is transparent, not linked to any commodity, nor any government. Suggests people prefer freedom over oppressive government and banksters.
Oh and the banksters are screwed too!
Flyin6:
So as a learning tool, I am going to set up a BitCoin "operation" here with a $1,000 USD investment. We can then watch what happens with it as we muddle through our own day to day. I'll post up things I learned and those that I screwed up. The goal will be to create a learning platform which can be copied to get others into the crypto world
The ultimate goal is financial security on a ship that is clearly capsizing.
TexasRedNeck:
So are you looking to it as an investment or as a mode of payment/transaction?
I don’t know much about it except that it’s based on block chain technology and security.
Sent from my iPhone using Tapatalk
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