Why FIAT will re-emerge and BTC (and altcoins) will inevitably fail?

Imagine with me, if you will.

You live in a world with 1000s of food choices. You can discern as to what’s healthy, what’s organic and what’s cheap. This is the world where you are able to buy whatever is that you choose to feed yourself and your family.

One day you find out that a certain product that you have been consuming for your entire life is detrimental to your health and your loved ones, you quickly move to something else that is better.

Once you find out that you were cheated all along about this product and that consuming it is going to kill you, you stop buying it immediately. You even warn your friends and family. Your parents, relatives and friends continue to feed on that same poison and they even tease you with such things as “we have lived on this for centuries you hippie”, in spite of your best intentions.

As much as you love them, you can only do so much.

Slowly but surely, there are more and more people who come to the knowledge that this thing that we are conditioned to feed on is poison and they too stop consuming it.

The BIG corporation comes to know about this. It is not going down easy. It is too big to fall on its own weight.

So what does it do?

It will convince the authorities that are in its pockets to declare war on other products, followed by fake studies and feeding media with these ‘studies’. Agencies are called in for swift action. RESULT will be that all the choices that existed before are no longer on the shelf.

Now your family is left with only two choices, eat the poison or starve.

You have to choose the slow poison on the shelf or to starve to death. Your friends and family who you with all sincerity were trying to save from the poison will smirk at you “welcome back hippie”.

You accept this new state because you are left with no choice.

The parlance to above situation is that the poison on shelf is the FIAT currency. We know it’s hollow and has no value and it will destroy us if we depend on it completely. And when BTC and other Cryptos provided us with choice, those that are conscious are inviting this NEW healthy financial option.

Day-by-day the market is growing. It is now a 100+ BILLION DOLLAR market. In less than a decade it may even capture a Multi-Trillion Dollar market.

Fiat in any country is too big to fail. Fiat is not going to accept the defeat. It is going to retaliate.

How you might ask?

What if tax departments crack down on all crypto holders and create tax regimes that are so complex that people voluntarily withdraw themselves from the Cryptos?

You may think this is farfetched. That is because you are deliberately turning a blind eye.

Time for a True Story

Long time back, people with rebellious mindset have understood that it is ridiculous to PAY money to KEEP money in banks in US (and other countries). They found ways to invest in countries and locations that pay interest, dividends and fair share for KEEPING money.

This went on below the radar for some time and banks started seeing a decline in SURPLUS cash for them to profit from. They did not take this in the right spirit (why would they?). Lot of wheels churned behind the scene and then tax authorities across the continents agreed on what is now known as FATCA regulations.

These regulations are so complex that having an account that yields $500 income annually may impose so much disclosure requirement that it may cost you literally 1000s of dollars to find professionals who can help you disclose these properly on the tax forms. This discouraged many of these brave souls and has forced them to CLOSE these off shore accounts.

Authorities picked few scapegoats to make an example of the extent the authorities will go to crack down on those that are looking for a ‘CHOICE’.

Current State of Matters!

IRS has already taken steps to make the US based coin exchanges to FORCE disclosing customer information.

For most newbies who do not mine, the first source of acquiring BTC/ETH/LTC in the US is Coinbase or Gemini both of which are US based companies and it will not be long before they either agree to disclose OR close their business down.

You don’t believe me still? How about this real case?

Coinbase has shut down its operations in these Hawaii and Wyoming States because of unfavorable regulations. Minnesota is another State where Coinbase is still waiting for approval. Washington was making things tough for BitCoin exchanges.

Those who want to rebel against the regulations and can transplant them into another country with family may not care about what jurisdictions do in their current country but what about those that cannot move easily?a

The point of this article was to drive a conversation and gather your opinion on this question.

Will we be FORCED to depend on the slow poison that is FIAT?

This is one prediction I will be happy to be wrong about; what do you think?

Opinion. Not an advice.

ABOUT MY BLOG: I write about Money (crypto world, including ICO Review Series, Life, Psychology and everything they entail.

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Well back in 2010 I had contact with species not of this world that basically know me from before this life.

And they simply keep an eye on my progress here on this world.
because I was spiritually evolving and getting too familiar with it all

They noticed my DNA needed an adjustment and that was the reason for their interaction with me they basically did surgery on my DNA to made me stronger in terms of handling energies in this physical world since I became hyper sensitive and couldn't really function that well, so it was a needed adjustment.

And while onboard of their craft I remembered certain things not all things but I was shown the most probable future and other things connected to me as well.

And one of these things I was shown is a total overhaul of the financial system.
So I basically have like a scoop of foresight about all of this.

Does this answer your question about 'they'?

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beyondthecrypto (61) · 7 years ago

I also kinda mentioned that cryptocurrencies will die out potentially in the next 20-30 years but not before the fiat system is totally gone.

$0.04

1 vote

rkreddy (47) · 7 years ago

Back to barter system then? What do you envision will take place of Fiat and crypto?

$0.00

There will come a system more like connection to Artificial Intelligence. do not ask me how that works because they didn't explain it to me I was merely shown glimpses.

What I was told though is that in the future after that system, we will have access to zero point technology and then no economic system is required. since you could basically create anything out of nothing.

but that is gonna be around 2050 ish I would say maybe even later.

I love the sound of that!!!

Who are 'they'?

In a weird way, it does!

zariasonja (35) · 7 years ago

Crypto is in the aim of the fiat system, if they conquer the system of blockchain, the system is going to repeat again.