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December 23, 2017 | What Can We Now ‘Say’ About Bitcoin and the Other Crypto Currencies?

Donald B. Swenson: Born January 24, 1943, Roseau, Minnesota. Graduated H.S. 1961, Moorhead High, Minnesota. Graduated College 1968, Moorhead State University, Minnesota. Designated member of Appraisal Institute (MAI), 1974. Employed with Western Life Insurance Company, 1968 – 71; Iowa Securities Company, 1971 – 73; American Appraisal Company, 1974 – 81. Part-time teacher/valuation consultant/bartender, 1979 – 2008 (taught workshops at Waukesha County Technical Institute, Wi. and Madison Area Technical College, Wi.). Retired 2008 (part time teacher/blogger), AZ. Self educated economist/philosopher/theologian: http://kingdomecon.wordpress.com.

The mania in crypto’s is likely to continue after a brief pause. But the recent crash in Bitcoin (12/22/2017) reveals that this currency is destined for oblivion (eventually). This goes for all the crypto’s as they are mere units of our imagination. They all live within my/your consciousness and not within space/time reality. They have zero existence within our space/time universe and only the seekers after ‘spiritual’ currencies will continue to buy these units of nothing. Think for yourself on all this philosophy, however!

 

Let’s try learn from the recent history of Bitcoin. This virtual unit started the year at less than $1,000. It then was hyped and promoted as the savior of mankind (moneywise) by a host of Millennials and a few Gen X’ers,  who lack discernment and wisdom on the issues of ‘value’ and money. Bitcoin, in reality, is a mere ‘image’ within cyberspace (our computer screens). Yet it appears (to many) as a solid item with mass/matter. I can ‘see’ this image in my mind’s eye and this makes it ‘seem’ real (even though it isn’t)! We need to understand this concept called ‘cyberspace’ to discern the ‘nature’ of these virtual units! In reality, ‘cyberspace’ is not a space within our space/time universe!

 

All the images, text, pictures, numbers, and colors within our computer screen are mere units of my/your extended consciousness (our inner self). These bits and bytes (derived from 1’s and 0’s) have zero mass/matter and they technically do not exist within our space/time universe. Why would anyone with discernment and wisdom fall for these virtual/cyber/inner currencies? My sense (after teaching on the history of money for some 50 years) is that most people fall for ‘images’ that appear real (especially if well-known celebrities are behind the promotion). ‘Images’ in one’s MIND do seem real and physical to many!

 

This appears to be what has happened with all these crypto/virtual currencies. Certain celebrities and select utopia socialites (and a few financial pundits) have adopted these crypto’s as viable saviors for Capitalism. I agree that their intentions are GOOD even if their discernment and wisdom is misplaced. They can sense that our system (as is) is corrupt and dysfunctional. I have the same perception. But why would I desire to promote a mere ‘image’ of my inner consciousness as a viable currency? This makes no sense to me (unless I am deceived and unaware of my deception)!

 

What we can learn from the recent crash is that this concept called ‘value’ is totally subjective and inner. It is a unit of our consciousness and it flows with emotion and subjectivity from person to person. Why was Bitcoin given credence in the marketplace so it could command this change in ‘value’ for 2017? My sense is that everyone fell for a word called ‘blockchain’. It was this word called ‘blockchain’ and this ledger payment system which created the ‘value’ within the minds of the promoters. That is my perception as I watch the Bitcoin marketplace!

 

The other ‘words’ which many fell for were ‘words’ promoting Bitcoin as a decentralized currency with a transparent payment system…which could be used for global transactions (avoiding the central bank system). All this sounds so logical and reasonable to those without any understanding of our monetary history. In reality, mere virtual ‘images’ can not work as units of objective ‘value’ as they DO NOT EXIST. To serve as a currency the unit must have EXISTENCE in space/time. Virtual currencies do not have this! They are mere ‘images’ within my mind! They have NO long-term ‘store of value’ nor can they be used as a ‘standard’ of value (two essential functions of money)!

 

I hope more people will start to discern the nature of these virtual currencies. They can not work to grow Capitalism or any other economic system. They are worthless ‘images’ within our subjective spiritual consciousness. They eventually will go to ZERO as they are worthless for international trade and real commerce (longer-term). That is my view and opinion. I do recognize the GOOD intentions of the promoters of these currencies, however. I also would prefer a decentralized monetary system with real transparency. Think for yourself on all this, however! I am: https://kingdomecon.wordpress.com.

 

P.S. Another continuing factor in this crash of Bitcoin centers around our Futures Market and this concept called ‘shorting’. This ‘shorting’ strategy is now a way for our corrupt authorities (Central Bank traders) to control and manipulate the Bitcoin price to their advantage. All this can be done with one ‘algorithm’! What a world we now live in! Keep checking on what our corrupt authorities are doing here: http://www.cmegroup.com/

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December 23rd, 2017

Posted In: Kingdom Economics

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