FinTekNeeks

From Minimalism To Tech

FinTekNeeks Weekly Recap – 1

Posted in Money

We want to share with you some articles and videos that we have come across in the last week or so that we think provide insight and we find helpful, along with some of our content for newer readers. To save you time, we summarize what the content covers.

Articles and Videos

Donald Hoffman – Do we see reality as it is?

Alan Watts – The freedom to make mistakes.

Axel Merk: Fake Risk, Fake Return? Fantastic article by Merk about the risks in the system; if interest rates are lower than 8%, it means the system has stopped pricing risk. Yet risk always exists – it can never be eliminated.

Mainstream Media Lie: There Is No Student Loan Crisis A post from our deprecated blog that covers the mainstream media lie about the student loan crisis. There is no student loan crisis in the United States; there are simply some irresponsible people who are living with the consequences of their stupid decision. Welcome to reality!

We recommended people read this post Monday and we know that most of you did not. Actually, I suggest that you read that post every week for the next five years until you’ve memorized it and it becomes a reality in your life. People tend to hate reading what they need to read the most.

Notes This Week

Wednesday night, in Asia-Pacific hours, many crypto-tokens experienced a dump with gold, silver and platinum soaring during the trading hours. Those are excellent moves by traders; those metals make physical hedges on digital currencies. Remember, one ounce of gold in a year will still be one ounce of gold and gold cannot be hacked. Gold will exist in 100 years while bitcoin won’t.

While bitcoin maximalists continue to denigrate every other idea, the confidence that we see rising in other tokens comes from the recognition that bitcoin is no longer the most innovative idea – a fact I would argue has been true for at least a year. I’m impressed how many other good ideas exist and if bitcoin isn’t careful, it will suffer the fate of MySpace against Facebook. I laughed when I saw a well-known bitcoin maximalist this week admit that competition was close to overtaking bitcoin; that assertion is more right than most realize. This doesn’t mean bitcoin goes away or dies, it means that people start to use alternatives and never look back.

If you’re a regular reader to our site, none of this will surprise you. Democracy doesn’t work as intended and it never has. This is why the Republic came into existence – Ancient Rome created the model that we see today – for example, the United States of America is a constitutional republic. Democracy foolishly believes that everyone is equal; Mother Nature laughs at that because people are not equal. Republics understand that people are not equal and give power to those willing to risk a stake in their success.

Of course, no system is perfect and no system lasts forever, but a republic will outlast a democracy every time. Watching ignorant people in the cryptosphere learn this lesson again – even though history has taught it multiple times – has been fun.

Bitcoin’s problem could be solved with a republic-like governance model where merchants who accept bitcoin threaten the entire network; for instance, if all the companies who accept bitcoin say, “If you don’t activate [x] in one month, we will permanently terminate our relationship with bitcoin.” The reason for merchants doing this is that they will have to do more work if bitcoin splits; likewise a split may open up a later split and a later one and a later one. This means that bitcoin could turn into a nightmare for merchants. In a sense, I could encourage merchants who accept bitcoin to consider this scenario – one fork may equal ten.

Posts This Week On FinTekNeeks

Do you have a Dash Electrum Wallet?

Why you should attend Bitcoin meetups

The minimalist’s guide to White Day

Valeant effort

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