Do we really need cash? That is the question that was presented to the panel I was included in on Al Jazeera.
Some of the people on the panel were quite strong proponents of living a cashless existence, but they did admit that fiat currency cannot be done away with as easily as some say.
I mentioned that I, of course, prefer my Wirex bitcoin card (get one here) and Goldmoney (get one here) and Perpetual Assets precious metals cards (get one here) over using terrorist financing Federal Reserve notes or digital fiat.
Bitcoin being suggested as an alternative to government controlled fiat prompted some staunch opposition from the speakers on the panel who, being trained in government indoctrination camps, did not seem capable of listening and constantly tried to talk over me.
And, despite many people who think bitcoin is a globalist plot to bring in the “mark of the beast” system of total control and surveillance, I was the only one on the panel who even brought up this issue as one of concern.
You won’t want to miss this video as it includes quite a bit of valuable information pertaining to the future of currency.
You can view it HERE
One of the arguments made by a bitcoin skeptic was that bitcoin couldn’t even agree on the terms of its fork and segregated witness before August 1st. Of course now that August 1st had passed the value of bitcoin has skyrocketed tremendously along with the value of the newly created bitcoin cash.
Together, these two currencies have a combined value much greater than bitcoin had prior to the fork.
In the next few hours, we’ll be releasing our August issue of The Dollar Vigilante newsletter where we discuss the future of both bitcoin and Bitcoin cash. To make sure you get our analysis, subscribe here.
Let people choose what holds value & is best as a medium of exchange. Many options will appear, some will persist... some will fade away.
if the government keeps doing what it is doing then it looks bad for the american dollar
but that does not really matter because more and more of them are stepping into the cryptocurrency economy anyway
https://steemit.com/cryptocurrency/@felander/the-us-government-really-does-not-like-the-crypto-but-the-americans-do
You were very professional Jeff @dollarvigilante. The other guess were rude interruping you.
Hi Jeff or @dollarvigilante! I highly appreciate you Content and look very much Forward to meet you in Person next year in February @ Acalpulco.
Here is my take on cash: https://steemit.com/coins/@ragetester/what-you-do-with-change-small-value-coins-are-a-nightmare
I should come visit too. I am subscriber to Jeff and I think that 95% of his analysis is spot on. I tend to be very disagreeable, but I think that Jeff always in the right ballpark, even when it does not concern crypto finance, his specialty. I admire him for his courage to openly face the demons that work for government. So far his newsletters have provided more value to me than I spent on them - so it's great :D
Thanks for this amazing post @dollarvigilante. Bitcoin does have a future and we are definitely going to see govt. issued national cryptocurrencies soon I think.
The best thing about Bitcoin is that we can send it to any person anywhere in the world without a hassle or a hefty fee.
What do you say on use of Bitcoin by criminal elements? How can that affect adoption rate
the thought of govt. issued crypto crossed my mind and your first person I've seen mention the idea. I definitely think they're working on something. They're not gonna sit there and let Bitcoin just take over the monetary system without a fight
Something happened lately. Dubai has introduced its own cryptocurrency. It was in the news. Its price is $10.5 per coin; which is way too much. But the point is that govts have started doing it already.
Where this leads to is yet to be seen. Let's see.
That's interesting, ill check it out. What's the name of the coin?
It's not ICOed yet. The news is circulating though. Google will help.
This was funny to listen. Jeff you were like from other dimension talking to these guys. I think no one from them understand points you made. But on other hand, they invited you on show and that means your messages are getting noticed. Keep it up and enjoy your trip to your homeland ;) :)
cmoljoe , I agree with you. At least a lot of new people were exposed to a real view of what's happening. The cashless trend is scary - to me because countries are moving toward at a very fast pace, reflecting desperation. I think they sense an advantage over other countries if they don't have to deal with implementing paper money and coins. That and the control over their citizens is irresistible to them. Jeff did a great job and informed millions.
Funny is putting it mildly. A stopped when I saw that it was more about me me me! ego's than a friendly debate.
The media in the UK today were all over a study that said we are reluctant to pay for parking using our mobile phones but guess what - we prefer to use cash!
I would pay in the UK for parking, BUT every time I do it it F**ks up and it takes 5x as long than a cheekh 1£ coin i in the machine! Lol
You can also bet that it won't give you any change!
FACT! :)
PRIME DIRECTIVE 24.19: All ManBots Shall Reject Immediately The Idea That The Supreme Control Grid System Is Inherently Evil.
OK, so my favorite lines from the video:
"Do you pay tax, Jeff?" "Absolutely not...I do not want to support the beast."Uh, YES! Got that right!
Great videos, I think that we will see a cashless world soon.
Great stemian making us proud...
One thing I love about your post @dollarvigilante is about the richness of information and knowledge as regards digital currencies and innovative options to choose ! Glad to be following a post worthy of my upvote
Maybe I'm biased but Jeff made the most sense from all of the talking heads. Abolish government, abolish central banks and let the free market take its course.
I've only looked briefly at anarchism so I'm not too knowledgeable on it, but if there is no regulation, won't it make it easier for the rich to rip people off without repercussions? They already do that, but if there were no regulations at all I would assume it'd be far worse.
The rich are only rich BECAUSE of regulation and corruption. Don't confuse peaceful anarchy with chaos.
But surely if there is no regulation, it would make it easier to screw people over? I mean if we abolished speed limits, more people would drive faster. A speed limit doesn't stop everyone, but the penalty and regulation do stop most people from driving too fast and endangering peoples lives. In some areas I think there is too much regulation, but I don't think all regulation is a bad thing.
Just ordered my Wirex card.
Basically we are all moving to the moon. I can't imagine a digital fiat doing very well in the age of internet transparency. I feel like the moment we have digital fiat, we will also be inserting chips into peoples hands... just waiting for the day where Hentai pops up on public displays after my face gets scanned by some marketing bot.
don't we already have digital fiat?
haha! Jeff is the man, never holds back just lets rip with brutal honest truth!
nice good report u r right... before august anyone confuse frombtc but now not confusion about it
@shencoin
You right....nice comment
Waoo really awesome post thank you so much for sharing !!
@aryan12o
Yeah...great post from a great guy! Nice comment
Cash is gradually going into exstinct, many people here in africa are going digital.
@phranky
Am sure Africa will be the last frontier for cash....my country is trying to bring up cashless policies but that is for even those who have the cash... Poverty & illiteracy plus technology backwardness and bad govt policies will not allow Africa to meet up!
every one have his own and different opinion some but from ur post only my confusion some release about having cash
nice to share in details about everyperson cash doubt...keep it up always sir
@kellyrose
I agree...great comment
Awesome post :)
ur work is good but i want to ask u about bcc is this right tim to buy or not bcc and whats next target of bcc @dollarvigilante
@dollarvigilante handled it like an absolute boss fighting off the sceptics and turning them into believers and advocates. Those who stay sceptical will learn in the future they have missed out big time. We had such a smooth transition on August the 1st I don't think anyone believed it would've been that easy and simple
Thank you for all your work getting the word out there and turning people to the light
Regarding bitcoin debit cards which one do you use mainly @doitvoluntarily
I've currently been using Wirex due to their pretty cheap fees
Thanks for information!
Nice work @dollarvigilante for representing the truth that bitcoin and cashless systems are not evil.
Fair play Jeff!
I think there will be no cash in the future you can see it in Greece where you can pay with cash maximum € 80. In the future some people will have a chip in there arm connected to there bank accounts and other people will have cryptos. I will be for sure one of the people who have cryptos.
I told you homeboy u can't touch this!
Ahhh @woetez
You v got a greedy kitty! Are u also a cashless enthusiast?
I'm not a fan of cashless-fiat-currency. I don't trust central banks. I do like the idea of new technologies changing what we define as 'cash'. After all, money is technology, money is printed or minted... We moved on from rocks and shells, maybe it's time to move on again?
hmm but the speed is very fast are you sure some 3rd world countries can follow suit in this globalized world...
what if there is hackers attach on the general database? i still feel we are moving too fast on this...
Your first argument has little validity, developing countries have faster growth and faster implementation of newer technologies. It's like they skip steps, they are more eager to change then the industrialized countries. There is even something called trickle-up innovation.
The second argument is invalid, all systems suffer from hackers, especially centralized, like the Indian Aadhaar database getting hacked for example. Decentralized systems are safer from attacks.
Learning from an experienced steemian... Thanks for educating me on these issues
Find time to also check our my health tips & short stories...
Rewards
I'm a newbie but thanks :)
I like health tips, following!
I hope we keep cash for a long time. Though I'm really happy that bitcoin is also growing bigger since it also allows for the privacy in trans actions.
Thanks for all you are doing jeff. Thanks to you I managed to make some money. It's not much but atleast its a start.
Hello Jeff, hope your having a good day.
That BTC sceptic is a joke...
Thanks for the links to a Wirex card and perpetual assests
Be Well...
Thanks for showing out on the mainstream media Jeff. The haters who think their fake money is going to last will be sorry in a couple years.
Personally speaking, I love electronic payment systems for there convenience. But, Giant BUT.... Don't take my cash away from me. PLEASE!! I like the fact I can use it discreetly. Also I keep some under my mattress. (:
Very cool post and info :) I like it :) I waiting next post now.
People just do not get it. Going cashless will not help the poor as governments will deduct "inflation" from your balance and nothing you can do about it.
Bitcoin is best for the poor as it will eliminate insane bank charges. My friend transfers money to Thailand each month by Moneygram and he and his family lose 5% in transfer fees. Sickening.
Well said Jeff
People on government assistance will be forced to accept the "chip" this is exactly where we are heading and it's coming sooner than we think and it looks like India will be one of the first countries to force its people into it.
Cash has advantages. I think some form of cash will be around for a long time. That said, people have used a lot of different methods of money over the ages. For Americans Cash, checks and credit all represent different kinds of money. In the past, company script, pelts, food, sea shells, beads, and other goods have been used for trade. I am all for more types of money competing in the free market.
After watching this i just wanted to go to India to get chipped for my free 4g on a $2 a month contract. Don't you just want to shake thee people and tell them to wake up.
Thanks for the heads up on Wirex looking in to it now
Going cashless is the dream of bankers that would like to force negative rates (essentially taxing you for saving) on users. They can only do this if there is no escape for their funds.
I'd also like to take this opportunity to remind people about Bitfinex. BFX is rapidly becoming the next Mt. Gox - I would pull any funds from there.
Here's a good write-up about it:
https://hackernoon.com/the-curious-tale-of-tethers-6b0031eead87
BFX is using Tether (which they control) like the FED uses QE to finance their operations. This won't end well.
If you have anything on their exchange, I recommend you move it.
This was an interesting interview. I think in these types of interviews with "outsiders" you need to stick to the mechanics and strengths of Bitcoin. And leave out the evil banker stuff ( which we all know ). These guys don't get what Bitcoin is and you could have drilled down more into the workings of it. As far as the guy saying it's a new technology, that was the point of the interview. Working on a new technology to reach more people in the world.
Oh yeah let's do this people!
Tough to get a word in with 6 talking heads, although this segment lasted much longer than most American Cable outlets.
Wish you had a chance to address the scalability of cryptocurrencies and the ability to create unique localized coins without government permission. If a village or region wanted to do that, the Western world would donate phones to them.
This is why I turn down being on panels. No one even lets you talk. So annoying. lol
This is really revolutionary. I've just been thinking of, "yes, earn crypto, cash out to naira, spend accordingly" but the game is a lot bigger and a lot deeper. At some point, there will be a reckoning because the existing systems will not let go easily. Hopefully, they will remain in the current holding pattern long enough for me to make the transition.
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Only one person made any sense in that discussion and his name rhymes with Jeff Berwick.
i want money, we all do. The future of bitcoin is sure. Great work. Saw you , followed you
Hey Jeff, I am a subscriber of yours and I know you might find my article contentious but it really is not, appreciate if you could read it and welcome your comments: Thanks
https://steemit.com/cryptocurrency/@ganeshaji/reason-why-we-need-more-regulation-in-cryptocurrency-space
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Reveal spoiler
You have handled it well. In few years those three other people in the panel will be laughed at.
keep the good work dude