Many of you know that I am friends with the guy who runs MadProgress.com and I have to tell you that the way he thinks about life in general boggles my mind.
He recently wrote an article about Cryptocurrency that stretched my brain cells.
Is Cryptocurrency The Future Of Money?
If you haven't been following along: Here's a link to what crypto is all about. It's a digital "medium" of "exchange". The value of which is ascribed by the people involved in the exchange.
Are Dollars Important Anymore?
It seems (at least in a thought experiment) that "dollars" may not be that important anymore (in the near future).
If people start to "value" cryptocurrencies in the way that they have been ascribing value to dollars then "Dollars" (read "federal reserve notes") may go the way of the Dodo Bird and other "extinct species".
This Is A Problem For Those Who Control The World As We Know It
If I was a Central Banker (and I am not) I would be worried. It seems that many people are finding a different "medium of exchange" outside of Central Bank (Government/Dollar) control.
No way to track, no way to "control". This is a problem for me if I am a Central Banker.
I've been doing some research....
Remember how a few years ago that all of the "online gambling" sites went away in the USA?
Guess what... they are back - only this time you can gamble "anonymously" with cryptocurrency. Right here in the Good 'Ol USA.
All you have to do is exchange your hard earned dollars for some "crypto" like Bitcoin, Litecoin, or Dogecoin, (among others) and you are back in the game. Check out this site to see what I mean.
What This All Means
If you are not in the "crypto" realm you should be. You ought to be learning everything you can about it. It is the next phase in the evolution of "money".
More to come....
All the best,