The Foreseeable Death of Fiat Money & Future of Cryptocurrencies

THE NEW ENTREPRENEUR
September 7, 2017
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The Foreseeable Death of Fiat Money & Future of Cryptocurrencies

Never believe anything until it has been officially denied.
Claud Cockburn British journalist

The Death of Money is about the demise of the dollar. By extension, it is also about the potential collapse of the international monetary system because, if confidence in the dollar is lost, no other currency stands ready to take its place as the world’s reserve currency. The dollar is the linchpin. If it fails, the entire system fails with it, since the dollar and the system are one and the same. As fearsome a prospect as this dual collapse may be, it looks increasingly inevitable.

Thus the coming collapse of the dollar and the international monetary system is entirely foreseeable. This is not a provocative conclusion. The international monetary system has collapsed three times in the past century—in 1914, 1939, and 1971. Each collapse was followed by a tumultuous period.

The system has spun out of control; the altered state of the economic world, with new players, shifting allegiances, political ineptitude, and technological change has left investors confused. The book “The Death of Money” gives you a glimpse of the dollar’s final days and the resultant collapse of the international monetary system. A new system that will rise from the ashes of the old is already in the making…

When a country or group of countries peg to the U.S. dollar, those countries effectively outsource their monetary policy to the US Federal Reserve.

Whether the loss of confidence in the dollar results from external threats or internal neglect, investors should ask two questions: What comes next?  How can wealth be preserved in the transition?

The coming play points into the direction of establishing the IMF (International Monetary Fund) and Worldbank as the comming One-World-Bank with the UN (United Nations – also see Agenda 2030) as the One-World Governing Body.

If you are interested in a more thorough study how the monetary policy and markets are manipulated you can download the book (for free – see link below) “The Death of Money”. Although written in 2014 it still gives a very accurate prediction of where the world is heading to and how manipulated the markets really are.

Everybody who solely relies on fiat currency may soon find himself in a precarious situation of devalued currencies or currencies rather to be replaced completely by a digital blockchain based world currency under the doctrine of IMF as the new One-World-Bank.

Source: http://www.riosmauricio.com/wp-content/uploads/2014/11/Rickards_The-Death-of-Money.pdf

The new kids on the block are making waves in many ways, especially when it comes to transactions anonymity.

Blockchain and Anonymity

While bitcoin and other digital currencies have developed a reputation for anonymity, some investors remain concerned about the role of the blockchain in preserving that anonymous status. If all transactions are recorded, including the sender, receiver, and amount transacted, it seems there would be at least a theoretical danger that this information could be accessed by an outside party.

The sense of anonymity that is associated with currencies like bitcoin, therefore, comes from the “fact that wallets are not connected to our names,” according to a report on Steemit. While wallets are not given specific investor names, they can often be traced back to individual users through transaction history, service providers, IP addresses, and similar means.

In order to counter this issue, so-called “mixers” were created. Mixers are, in this case, a collective of people who come together to share tokens, mix them up, and then redistribute them. This makes it more difficult for individuals to be linked with specific tokens. However, other currencies are going even farther to protect users’ anonymity.

Dash and Monero two of the leading privacy cryptocurrencies

Dash began life as darkcoin in 2014, created with a feature allowing users to pre-mix their coins during transactions. This process came to be known as “darksend,” later called “PrivateSend,” and it remains a feature of dash to this day. It is seen as a step up from third-party mixing services, but it could still potentially be traced by expert analyzers.

Monero, on the other hand, arose from the CryptoNote protocol and came to being with an emphasis on increased privacy. It utilizes a ring signature system in which multiple users share a set of keys which confirm transactions without revealing which of those users were party to the transaction.

Zcash, a third privacy-focused currency, aims to be a proof-of-work currency with no transaction records at all. The transactions will be completely encrypted on the blockchain using “zero knowledge SNARKS” to ensure accuracy.

Each of these currencies is exploring new ways in which the blockchain and cryptocurrency worlds can interact to provide users with newfound anonymity.

Source: http://cryptocurry.com/news/unexpected-rise-popular-cryptocurrencies/