Authored by: DarkLight
Cryptocurrencies are not money. Any argument for centralised regulation of cryptocurrencies is anathema to freedom & the realisation of their true potential.
Why do people want freedom? Because freedom is good. Why is freedom good? Because the worst of us always end up in positions of systemic control & that control is always abused & used to commit atrocities against those under its influence. Power corrupts & absolute power corrupts absolutely. Power over the currencies we use for exchange & store of value represents absolute power & corrupts absolutely. There is no escape from the influence of this power & the affects of its colossal abuse have damaged every single person on this planet, one way or another. For a handful of individuals to have the power to steal & deploy unlimited wealth on a planet of billions is unquestionably immoral.
Jerome Powell, Chairman of the Federal Reserve said “I think we now understand better, how little we understand about inflation.” June 29th 2022
Given the horrific consequences that power over our currencies & money has unleashed, this is at best an admission of total incompetence, at worst, an outright lie. Either way, those that seek to regulate cryptocurrencies are categorically unfit to do so, even if they weren’t only doing so to protect their grotesque power. They have presided over the unchecked, incalculable corruption of currency, markets, countries & people, alongside the derangement of humanity, civilisation & all the other profoundly evil consequences of their control.
Why is anyone calling for regulation? It is once again due to corruption. It is an incontrovertible fallacy to suggest there is a competent global or regional authority in the world, capable of or interested in the protection of people from their own greed and stupidity or that of others. The only interest FIAT power brokers have in the regulation of cryptocurrencies is control. They simply do not wish to lose control, so they attempt to foster chaos and confusion by orchestrating campaigns of market manipulation coupled with language capture & propaganda. Their agenda is clear, sow discord, control the narrative and offer the solution. The solution always has a single primary objective and that is to maintain and grow their power.
Cryptocurrency is fundamentally different from everything that has come before it. It is an amalgamation of technologies, coupled with Satoshi Nakamoto’s ingenious solution to the Byzantine General’s communication problem…in essence, how a message, routed through adversarial territory, might be trusted. The solution is a cryptographically secure, message propagation & consensus forming network that is highly resistant to brute force attack. Cryptocurrencies are completely novel. They are not money, they are entries on a distributed network of databases with private key coded arbitration of access rights to making specific changes to the database via signed messages. This is effectively digital speech. They are the ultimate manifestation of an individual’s human rights to self-expression. The exchange & storage of information or data is intrinsic to human society and the rights of individual freedom are essential to the health of every individual within it. Healthy individuals make for a healthy society…naturally. We should immediately stop using captured language and terminology to define this socioeconomic revolution of cryptocurrencies.
The analogies that have been in use have not served to protect early adopters, in fact they have obfuscated the truth & allowed liars, thieves & scammers to flourish. Into this largely orchestrated chaos steps the inept & evil FIAT masters with regulations to “fix & protect,” even though they have no moral or technical authority to do so. FIX FIAT FIRST should be our response to any attempt to regulate cryptocurrencies. Shouldn’t we establish a track record of even remote competency (rather than rampant incompetence & corruption) before looking to anyone for help? Crazy is doing the same thing over & over and expecting a different result. In the most financially sophisticated & heavily regulated global economy ever known, name any regulation or law that has prevented the most diabolical corruption, the most concentrated wealth inequality, the most obscene environmental calamity, the most monstrous warfare & the most widespread misery in human history.
Sadly, cryptocurrencies are presently also in a mess & who’s fault is that? It’s ours. We have supported networks & projects that are clearly centralised or economically unsustainable or both, though partially obscured behind a thin veil of terms such as DeFi, DAO, Web3, TVL & stable. In order to clean them up;
- we need the scams to flounder (as is presently happening and as it should in a more free, healthier market)
- to name & define things as they are (there are no wallets, there are viewers & signers, signing is speech)
- continue to refine our decentralised messaging toolkit.
- high performance semi-decentralised L1 smart contract networks
- decentralised bridges to build massive super network scalability & corruption resilience through routing choice
- decentralised exchanges
- decentralised governance
- decentralised reserve management
- decentralised wealth aggregation & distribution protocols
These are the technologies of individual liberty. Freedom. Freedom to speak, interact, save, spend, to own private property & maintain a measure of privacy. Imagine a world without systemic debt slavery. Imagine a world where the unlimited funds for conquest & war could not be stolen from everyone with the click of a mouse button. Imagine a world of freedom, peace, accountability, abundance, integrity & innovation. We can have it all if we achieve the right amount of decentralisation & cryptocurrency adoption, unfettered by the machinations of technocratic, power hungry, anti-humanity, transhumanist, psychopathic, madmen & madwomen.
When your Mother or Father can’t afford enough energy to heat their home. When you can’t afford decent food for your family, despite working hard. When inflation is literally destroying your life & the lives of billions of people around the world. Remember that those self-appointed masters of FIAT, those who printed unimaginable amounts of currency for themselves & their wars, who told you everything would be fine, that only a fool would worry, that inflation wouldn’t happen….or would be transitory….or had peaked….or would go away soon….or would go away if we just print more….despite all evidence to the contrary, in history & before your very eyes…
“Now understand better, how little we understand about inflation.”
Decentralised technologies that protect our freedom is essential to the continued existence of humanity itself. It is now or never.
The cryptocurrencies that are of most interest to me in fostering a decentralised future are the following; (This is NOT investment advice, these are for the purpose of expressing my opinion only.)
- Bitcoin — brand awareness, market liquidity, market entry, network security.
- Layer 1 core network infrastructure — eosio network building toolkit, for its DPOS (Delegated Proof of Stake) consensus mechanism, security, performance, common smart contract language & ease of development. L1 currently has centralisation pressures due to economic & physical limitations. Semi-decentralisation is the best L1 is is likely to achieve, but with decentralised bridges enabling super networks, the risk of censorship or corruption is reduced because cryptocurrencies can leave, moving to networks that are in closer alignment with their values and able to maintain the highest levels of integrity.
- Decentralised Bridging — QED is a bridging technology built by Origin. One, founders of the UX Network, built utilising the eosio toolkit. It purports to be a fully decentralised, highly performant & resilient solution, therefore less likely to experience the disappointing lack of security and decentralisation experienced by many other bridging solutions.
- Decentralised wealth aggregation & distribution — $Monsta is a relatively new project on the BNB Chain, a little over a year old. It is a project that was founded upon a set of moral principals, specifically in an effort to address a severe lack of economic sustainability and massive fraud within the market. If an economic model is not sustainable, it cannot be moral. The model consists of a smart contract protocol that harvests transaction volume & stores this economic energy in non correlated token reserves. At the same time, the native token supply hyper-deflates via various mechanisms over the course of a two year cycle. At cycle end, the reserves are distributed to native token holders in proportion to their holding % of the final supply. Thus a resilient, non correlated floor value is placed under the native economic system. This has incalculable utility to investors & the growth of additional features, products & services based on the economic potential aggregated & distributed by the protocol.
It is my sincere belief that these four core technologies, once fully deployed & operating at higher volumes, will together, result in a highly resilient web of incentives that work together to sustain enough decentralisation to provide the framework for freedom. Enduring, resilient freedom. Thus leading to an unparalleled unleashing of peace, integrity, innovation & abundance for all.
Opinions or ideas expressed in articles published in the Cake Monster Guest Column are of the respective authors and do not represent those of the Cake Monster Team.
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Cake Monster ($MONSTA) is an undertaking in sustainable Hyper-Deflationary Economics. We have developed a groundbreaking economic policy and wrapped it as a cute Meme on BNBChain. To give you some fun along the way, you’ll find On-Chain Games, Play2Earn NFTs, and other rewarding features that let you earn money in the world’s first sustainable Hyper-Deflationary Ecosystem while making the protocol work for you. We offer the best of both worlds — finance, and fun memes.