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Author Topic: Why decentralized money system is needed  (Read 262 times)
cheefbuza
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March 13, 2018, 10:23:00 PM
Merited by Lucius (3)
 #1

We live in a word with over seven billion population. There are so many people that you can't even imagine. So many different cultures, countries, rules and appraoches. Eventually, we are all human and living by a money system where you work for something and this something most of the time called money and with money, you can trade whatever you are looking for if it's food, clothes or anything that basically exist. By that, money is playing a huge role in our world. There are trillions of dollars, unbelievable amount of debts. But I went too far, let's go to your country. Let's say the USA, there are hundreds of millions of people who use the currency called dollar every single day to live. They work for it, they pay with it, they can't live without this. So something like the dollar with such a huge power, why would it need to be under control? With this thing, you can kill, change and build empires. No one including the government and especially the banks shouldn't have control over how much and how many dollars should be.

Decentralization. Once there's decentralization, no one has ownership of the currency. No one can control and ruin millions of people's lives. That's why it's so important. Money? isn't owned by a single person, corporation, bank or anything like that. Money is held by us all the citizens of the country. Hell it, all the people over the world. It is so decentralized that no person should even have more than 1% of the currency. It's like air, we all need it and we all have it some of them less and some of them are but we are all equal, no hierarchy. This decentralization gives equal rights to everyone. We, the average person bring power to banks and governments that they don't need to have. We need to pay taxes, but no one should get the power of controlling the money supply. No one obviously also should have the power to delete a debt. The money system, the supply should belong to every human on this earth. Centralization is the killer of equality. When I hold 50% of something I can kill it, I can ruin it, I can take it to the moon, I can do a lot of things.
Not only money but anything which has such a powerful influence on people should be decentralized and belong to the public equally.

Of course, at those moments we don't have pure decentralization, but that's should be our vision. That's should be what we are aiming for.
Becuase if you want to have a healthy money system with a pure kind you need a decentralization.

I would like to hear your opinions on this topic.

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March 13, 2018, 10:48:18 PM
 #2

We live in a word with over seven billion population. There are so many people that you can't even imagine. So many different cultures, countries, rules and appraoches. Eventually, we are all human and living by a money system where you work for something and this something most of the time called money and with money, you can trade whatever you are looking for if it's food, clothes or anything that basically exist. By that, money is playing a huge role in our world. There are trillions of dollars, unbelievable amount of debts. But I went too far, let's go to your country. Let's say the USA, there are hundreds of millions of people who use the currency called dollar every single day to live. They work for it, they pay with it, they can't live without this. So something like the dollar with such a huge power, why would it need to be under control? With this thing, you can kill, change and build empires. No one including the government and especially the banks shouldn't have control over how much and how many dollars should be.

Decentralization. Once there's decentralization, no one has ownership of the currency. No one can control and ruin millions of people's lives. That's why it's so important. Money? isn't owned by a single person, corporation, bank or anything like that. Money is held by us all the citizens of the country. Hell it, all the people over the world. It is so decentralized that no person should even have more than 1% of the currency. It's like air, we all need it and we all have it some of them less and some of them are but we are all equal, no hierarchy. This decentralization gives equal rights to everyone. We, the average person bring power to banks and governments that they don't need to have. We need to pay taxes, but no one should get the power of controlling the money supply. No one obviously also should have the power to delete a debt. The money system, the supply should belong to every human on this earth. Centralization is the killer of equality. When I hold 50% of something I can kill it, I can ruin it, I can take it to the moon, I can do a lot of things.
Not only money but anything which has such a powerful influence on people should be decentralized and belong to the public equally.

Of course, at those moments we don't have pure decentralization, but that's should be our vision. That's should be what we are aiming for.
Becuase if you want to have a healthy money system with a pure kind you need a decentralization.

I would like to hear your opinions on this topic.
A decentralizes money offers valuable connectivity to persons even overseas. Moreover, the transaction processes of international money remittance wouldn't be as tedious as it is right now. Every transaction only requires a few taps or clicks. Bitcoin's decentralization feature offers a lot of advantages and infinite possibilities
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March 13, 2018, 11:55:32 PM
 #3

Decentralized money system is actually done by a solidarity of groups which is not under the power of government control, and does not involves any taxes payments to government, that mostly taxes are corrupted by government leaders, so in decentralized system of money it is more likely better than centralized, to avoid any forms of dynamics corruptions. However governments would surely against on decentralized system of money, and for sure they would implement a law against decentralized system of money.
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March 13, 2018, 11:58:14 PM
 #4


It isn`t so simple. Banks are the responsible for creating paper money, they can speculate, they can print more and more, so, actually, paper money, dollars, as you mention, are under bank`s control. Regarding crypto, that is precisely the change that is happening here: this is not "money" as we all have known it for centuries, but a transaction system called Blockchain and based on the trust of many. Banks are supposed to be the third part, in the blockchain there is not such a third part but many people mining and confirming transactions.  

Besides, there are in the world, probably, few with a lot of BTC in their hands. That means exactly the same you are against for. There will be always few people with a lot of power and many with none. This is not about money, but the economy.
I believe in decentralized money, as you. But I can`t see this how you do. For now, it`s already happening: there are bitcoin holders, millionaires, even billionaires, and there are many people with just a tiny amount.

Decentralized money is not going to solve the inequality problem. This is just caused by human greed, and, to me, there is not a vaccine for that. Decentralized money just erases the bank, erase this third part, and allows money to move freely. But it does not mean money is going to be equally shared.
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March 14, 2018, 03:23:16 AM
 #5

So something like the dollar with such a huge power, why would it need to be under control?

Because there is such science that called Economics. It describes different aspects of the monetary policies of the government. Luckily those stupid people in the US government follow this established science. If you need to understand their logic and find an answer to your question then try to read some books.

No one including the government and especially the banks shouldn't have control over how much and how many dollars should be.
Sure. If you want to ruin the world economy asap.
Money is held by us all the citizens of the country. Hell it, all the people over the world. It is so decentralized that no person should even have more than 1% of the currency.
Comrade! It sounds like you are advicing to establish a crypto cummunism lol.
When I hold 50% of something I can kill it, I can ruin it, I can take it to the moon, I can do a lot of things.
Not only money but anything which has such a powerful influence on people should be decentralized and belong to the public equally.
Hmm. And why the US government did not deflate the USD to make it worth 100 EUR? For some reason  everything works fine.
Sorry. That's one of the funniest things on this board. I just can't take it serious. You literally describing how US can get back to the stone age.
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March 14, 2018, 03:37:22 AM
Merited by fiulpro (18)
 #6


It isn`t so simple. Banks are the responsible for creating paper money, they can speculate, they can print more and more, so, actually, paper money, dollars, as you mention, are under bank`s control. Regarding crypto, that is precisely the change that is happening here: this is not "money" as we all have known it for centuries, but a transaction system called Blockchain and based on the trust of many. Banks are supposed to be the third part, in the blockchain there is not such a third part but many people mining and confirming transactions.  

Besides, there are in the world, probably, few with a lot of BTC in their hands. That means exactly the same you are against for. There will be always few people with a lot of power and many with none. This is not about money, but the economy.
I believe in decentralized money, as you. But I can`t see this how you do. For now, it`s already happening: there are bitcoin holders, millionaires, even billionaires, and there are many people with just a tiny amount.

Decentralized money is not going to solve the inequality problem. This is just caused by human greed, and, to me, there is not a vaccine for that. Decentralized money just erases the bank, erase this third part, and allows money to move freely. But it does not mean money is going to be equally shared.


Firstly, i agree that banks do print or at least take the task of printing and get it done from a third-party, but do let me tell you that a bank cannot just simply go on printing as many paper money as they desire to. There's a proper system to all this. Printing allots of currency without any proper check will bring about inflation.

Secondly, its very true that decentralization is not going to bring equality as it appears to be theoretically. Obviously, there will always be a certain group of people who will have more than others. Be it centralized or decentralized, someone will have more than others. And the other thing is that in a centralized system, at least we have an authority to which we can complain, ask questions, get queries solved, put blame on. But in a decentralized system, suppose someone owns a fairly larger stake than others, they certainly can manipulate the pricing and the graphs. And in this case we won't be able to complain to anyone, nor will we be able to march against the person because that would make no sense.

Centralisation does bring a check on the freedom we have on our money, but it also helps keep the whole situation under control and kind of stable.
If we see bitcoins for instance, how often do we see it stable? Not very frequent right!
Whereas the centralized part of monetization is fairly stable. Both have their own perks, and what we need is the correct balance and not the abolishment of one and implementation of the other.

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March 14, 2018, 01:04:32 PM
 #7

So something like the dollar with such a huge power, why would it need to be under control?

Because there is such science that called Economics. It describes different aspects of the monetary policies of the government. Luckily those stupid people in the US government follow this established science. If you need to understand their logic and find an answer to your question then try to read some books.

No one including the government and especially the banks shouldn't have control over how much and how many dollars should be.
Sure. If you want to ruin the world economy asap.
Money is held by us all the citizens of the country. Hell it, all the people over the world. It is so decentralized that no person should even have more than 1% of the currency.
Comrade! It sounds like you are advicing to establish a crypto cummunism lol.
When I hold 50% of something I can kill it, I can ruin it, I can take it to the moon, I can do a lot of things.
Not only money but anything which has such a powerful influence on people should be decentralized and belong to the public equally.
Hmm. And why the US government did not deflate the USD to make it worth 100 EUR? For some reason  everything works fine.
Sorry. That's one of the funniest things on this board. I just can't take it serious. You literally describing how US can get back to the stone age.

Everything isn't that fine, trillions of debts, people can't afford most of the things and the basic things like an apartment.
A huge inflation and we saw what happened in 2008, a dollar 50 years ago was valued at much more than what it is right now and it keeps going.
Only natural money growth and produce such as Bitcoin can hold a decentralization healthy economic system forever.

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March 14, 2018, 01:21:08 PM
 #8

There is always AN authority, a third party, necessary for economic transactions, but in the decentralized system it is the algorithm and the stakeholders who are arbiters. The change is subtle, but profound. Nonetheless, there is always a framework through which a monetary system can exist.
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March 14, 2018, 01:47:02 PM
 #9

We shouldn’t have to rely on banks to hold our money. We should have control over where we store it and how we use it and what method we use to pay for things or transfer money.

I have no problem with using US dollars, but I would have a problem if I lived in a country with high inflation. Another benefit to a decentralized currency is that it has no nationality and there is no conversion needed from one country to another.
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March 14, 2018, 01:48:05 PM
 #10

Decentralization does not necessarily mean no one owns it. It only means that we all own a part of it. Control will be constantly up for grabs but that doesnt mean it's impossible to fully gain control. I get the rationality and the heart of not letting a single person own 1% of the currency, but the truth is, that's socialism. And we all know socialism doesnt work. Capitalism is not perfect as it creates a huge division between the poor and the wealthy but it's the only system that works for now. Bitcoin alone wont change that. What it could change is the distribution of power between the banks and the people. As we take power from the banks, hopefully they would stop being "too big too fail" and they would start making good decisions knowing that the government will no longer bail them out.

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March 14, 2018, 02:03:13 PM
 #11

This system was created and necessary in order that all transactions in network were transparent and in too time anonymous for users. Payments are visible to all users of network, in it and the main idea consists. There is no management, everything is decentralized. There is a lot of advantages, before the centralized systems.

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March 14, 2018, 02:08:05 PM
 #12

I completely agree with the need for decentralization. Governments call for decentralization in their own country, usually related to the services they offered. In my country most services were held in the capital, and now the want to make them available all over the country. They are still owned by the government, but they are ruled by decentralized entities, in each town.

I know that this is different, but it proves the point that decentralization is important to make services more efficient and fair. I think it's the same thing about money. It can't be controlled by banks. and it shouldn't be tied to governments as well, because when they crash, there goes the value of that coin as well.

This is not fair for the citizens that own the coin, and need it to live. A decentralized monetary system, is more efficient and fair.

I do believe in paying taxes, defending decentralization is not the same as defending chaos, but people should be in control of their own money.
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March 14, 2018, 02:37:36 PM
 #13

We live in a word with over seven billion population. There are so many people that you can't even imagine. So many different cultures, countries, rules and appraoches. Eventually, we are all human and living by a money system where you work for something and this something most of the time called money and with money, you can trade whatever you are looking for if it's food, clothes or anything that basically exist. By that, money is playing a huge role in our world. There are trillions of dollars, unbelievable amount of debts. But I went too far, let's go to your country. Let's say the USA, there are hundreds of millions of people who use the currency called dollar every single day to live. They work for it, they pay with it, they can't live without this. So something like the dollar with such a huge power, why would it need to be under control? With this thing, you can kill, change and build empires. No one including the government and especially the banks shouldn't have control over how much and how many dollars should be.

Decentralization. Once there's decentralization, no one has ownership of the currency. No one can control and ruin millions of people's lives. That's why it's so important. Money? isn't owned by a single person, corporation, bank or anything like that. Money is held by us all the citizens of the country. Hell it, all the people over the world. It is so decentralized that no person should even have more than 1% of the currency. It's like air, we all need it and we all have it some of them less and some of them are but we are all equal, no hierarchy. This decentralization gives equal rights to everyone. We, the average person bring power to banks and governments that they don't need to have. We need to pay taxes, but no one should get the power of controlling the money supply. No one obviously also should have the power to delete a debt. The money system, the supply should belong to every human on this earth. Centralization is the killer of equality. When I hold 50% of something I can kill it, I can ruin it, I can take it to the moon, I can do a lot of things.
Not only money but anything which has such a powerful influence on people should be decentralized and belong to the public equally.

Of course, at those moments we don't have pure decentralization, but that's should be our vision. That's should be what we are aiming for.
Becuase if you want to have a healthy money system with a pure kind you need a decentralization.

I would like to hear your opinions on this topic.

One thing is for sure,money is today the main driver of the world and all civilization depends on money.If you have more money you have more power and influence on people and things that are happening around you.So those who are rich and powerful actually shape the world according to their wants.In order to do that they must control everything,and they do that by control money.How much you will get pay for your work,what is the price of bread and milk,how much is the tax,everything is controlled and centralized.This is the way the system works,you have to accept it or you can go to some isolated part of the country and try to live by your own rules.

Decentralization of money is something which does not fit in any way in the present way of life which was built for a long time from powerful organizations and individual families.It undermines the very essence of control they have today,and even the bigger controls they want to impose to the world.Let's just take the example of terrorism which is used to drastically restrict human freedoms and privacy-but no one asks how it came to terrorism,it is just the outcome and the result of very bad political and military actions, and many will agree they are been made with very clear intentions.The old saying says: Divide and conquer.

Something like BTC does not fit the vision of most of today's power elites,whether they are politicians or business people.The idea of money that can not be controlled is something like the end of their way of life.People need to know that there is a choice,I can send and receive money first time in history and some fat bankers and corrupt politicians can only imagine to get % from that.

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March 14, 2018, 03:09:12 PM
 #14


Decentralization. Once there's decentralization, no one has ownership of the currency. No one can control and ruin millions of people's lives. That's why it's so important.

There will always be countries like China who ban cryptocurrency and put people in jail (with the threat of execution) if disobey.

We're never going to get a completely decentralised world because govts willing to hurt their citizens through violence will always exist.

 
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March 14, 2018, 03:12:48 PM
 #15

The payment platform based on blockchain technology is increasingly being adopted by the financial services industry and will become the next payment platform to take over the bank transaction.

"Blockchain" democratization, anyone can benefit from immediate, transparent and cost-effective transactions, regardless of where they live, education levels.

Unlike Banks, Banks could be hacked or robbed because of the central storage of data or assets. In contrast, the block-based platform is almost impossible to penetrate because it requires access to every computer system on the network at the same time to be successful.


Understanding the potential of the blockchain technology, more than 40 Banks around the world are investing a lot of time and assets to integrate this technology into their systems.

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March 14, 2018, 08:49:31 PM
 #16

I agree that decentralization is important in order to achieve independence, but there is one catch. People are different and mostly people are greedy, truly, they don't want to be equal. People say that equality is important, when they're not superior and feel oppression. When everyone becomes equal, but there's no control of it - such a situation generates greediness, emulation and, eventually, chaos. Only when people learn to be peaceful genuine decentralization may be achieved.
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March 14, 2018, 09:14:50 PM
 #17

I agree that decentralization is important in order to achieve independence, but there is one catch. People are different and mostly people are greedy, truly, they don't want to be equal. People say that equality is important, when they're not superior and feel oppression. When everyone becomes equal, but there's no control of it - such a situation generates greediness, emulation and, eventually, chaos. Only when people learn to be peaceful genuine decentralization may be achieved.

I agree to some point. But the world cannot eliminate greed, let alone chaos. This is a utopia you are dreaming and it is impossible at the state of the world right now. The world cannot sit around and wait for the world change in order to achieve genuine decentralization. At least, in bitcoin, it offers a glimmer of hope that people can become equal and independent in a financial sense - a utopian vision. Bitcoin is what we have now and all we are able to do is to take advantage of what it can offer.

In the banking system, the central figure has a huge influence on our money. Our 1 dollar bill can be useless if they want it to. But in decentralization, the price is influenced by the demand and supply. If it crashes, there's nobody to blame but us, the holders. So people can be greedy, yes, but atleast the whales will be mindful about their greed.


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March 15, 2018, 12:50:22 AM
 #18

I think we can not compare between centralized and decentralized systems because each system has its deficiencies and advantages. But of all the flaws and strengths I think the role of the government is being neutral to optimize its advantages, rather than the shortcomings that must be resolved and well covered without meaning that is so important with regard to the purpose of economic progress of a country.

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Beerwizzard
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March 15, 2018, 01:10:30 AM
 #19

So something like the dollar with such a huge power, why would it need to be under control?

Because there is such science that called Economics. It describes different aspects of the monetary policies of the government. Luckily those stupid people in the US government follow this established science. If you need to understand their logic and find an answer to your question then try to read some books.

No one including the government and especially the banks shouldn't have control over how much and how many dollars should be.
Sure. If you want to ruin the world economy asap.
Money is held by us all the citizens of the country. Hell it, all the people over the world. It is so decentralized that no person should even have more than 1% of the currency.
Comrade! It sounds like you are advicing to establish a crypto cummunism lol.
When I hold 50% of something I can kill it, I can ruin it, I can take it to the moon, I can do a lot of things.
Not only money but anything which has such a powerful influence on people should be decentralized and belong to the public equally.
Hmm. And why the US government did not deflate the USD to make it worth 100 EUR? For some reason  everything works fine.
Sorry. That's one of the funniest things on this board. I just can't take it serious. You literally describing how US can get back to the stone age.

Everything isn't that fine, trillions of debts, people can't afford most of the things and the basic things like an apartment.
A huge inflation and we saw what happened in 2008, a dollar 50 years ago was valued at much more than what it is right now and it keeps going.
Only natural money growth and produce such as Bitcoin can hold a decentralization healthy economic system forever.
Well, the worst debt is a national debt. Everything else is an obligation signed by people on their own will. Also today in most of the civilized countries loans are affordable as never before. Interest rates are close to zero, in some countries there are even negative interest rates. If someone cant pay his debt then it is definetely not the problem of monetary system.
Inflation. Ok, compare the US economy today and 50 yrs before and you will probably find some changes. In the US the inflation is pretty healthy. Also inflation helps to boost the economy of the country. You are offering to replace it with a deflation of bitcoin (that will kill the economy fast af) and call it a "healthy economic system". Well, I already said on the forst post about what kind of books you should read.
Saidmod
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March 15, 2018, 01:30:56 AM
 #20

First of all we need to have a decentralized money system for all our good. The money system now is backed by government and they have the control or the power on it. If you will going to understand and watch some youtube videos you will see that how government is fooling us and make advantage in everything in by the use of money. For this reasons thats why Satoshi created bitcoins which is against to the government on the way how they control the money.


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