Somehow, I ended up doing a rare thing today: I was at work, and I managed to eat lunch out.
So I'm sitting in the pizza place across the street from my workplace (only 2 days to go, now!); where they have multiple TV screens running — all manners of sports, news, CNBC...
So I am reading (because the sound is off) on one screen that some "talking head" is proposing a "Central Bank for Cryptocurrencies."
Sadly, I have not been able to locate the particular clip in question, but it ran at around 1:15pm, Pacific Time, today June 25th.
Where is this all going?
Missing the Point?
Granted, I'm not entirely sure what the entire interview concluded, but it's just interesting to me how often the "Establishment" tries to apply "old metrics" to new technologies, like they are little more than a variation of what's already being done.
But I suppose it's not surprising... many early-ish adapters of email saw it as simply an extension of postal mail... and there was even talk (briefly!) of charging people per email, just like people have to buy a stamp to send a letter.
Of course, now that we have 20 years of hindsight, we can stop and laugh at such an idea!
But a Central Bank for cryptocurrencies seems to me to entirely miss the point of the entire crypto concept. I supposed centralization is all about wanting control and the powers-that-be are fearful of losing that.
What do YOU think?
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Created at 190625 23:15 PST
1054
Those who advocate central control are snake oil salesmen. "Does this oil cure warts? Of course it does!! Dyspepsia? Absolutely!! Cancer? Why, we have just the thing for you!"
If your primary goal is to sell something to someone, then you have to convince them that your product is the answer to their problems. Whether or not it actually is becomes irrelevant.
Hiring someone who is supposed to provide answers has a built in conflict of interest, which is that they will give you fake answers that don't require hard work to create rather than real answers which do, and all of the motivation is for them to try to convince you that their fake answers are real. Giving control to these people is dangerous because they will use their power to convince you that their answers are real, and that includes using the power they have to declare some experts as expert and some as frauds, which means they have taken over the power to declare what is true. At which point you have lost the battle. But never the war, because true reality will always win over fake fantasy.
The good thing is that truth remains truth and reality remains reality no matter how vigorously they contest it. The bad thing is that the further they steer society away from balance and reality, the more people get damaged by the violent snap back to alignment with reality. Our goal is to avoid getting whiplash when this snap back occurs.
Thus it doesn't matter if they institute a central bank for crypto. They can't control real crypto any more than central banks can manufacture real gold. And there is a certain comfort in that.
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Yes, there IS a certain comfort in knowing that they can't entirely take over the concept... I'm not sure what the "Facebook thing" is going to do... but I guess we'll all just have to be patient, and wait and see.
Indeed, "truth IS truth." Even though it can be obscured in the short term...
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My thinking is this... once things get centralized like this, somehow the governments get involved, and things haywire. Chaos ensues and larger fees are tacked on. And as you stated...
YES! Why do/would crypto holders want to give that type of control to one person, one place?
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It seems like craziness to me @goldendawne.
Granted that I am in an "uncertain" frame of mind at the moment, but it also feels like the inevitable journey of "good things" in our world. Something "good" comes along that might truly better the general state of humanity, and next thing we know it gets taken over and hijacked by those who would use it merely to further their own causes... at others' expense.
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