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Forum Post: Bitcoin the answer

Posted 12 years ago on Oct. 17, 2011, 7:21 p.m. EST by brecknock (23) from Regina, SK
This content is user submitted and not an official statement

The OWS movement is a continuation of the Arab Spring. Rather than tyrannical political oppression there is a revolt surrounding economic repression and political unfairness. The discontent is justified but the issue is being framed incorrectly as the real issue at stake is the anachronisms of our economic and political systems to be functional in a global information age. The words of the wise Canadian sage Marshall McCloughen should be heeded "the medium is the message" for if solutions are to be sought they will not come out of the political and economic sectors but from the new online global community.

Here is why and how. The basic problem with the financial system is how very sophisticated financial transactions fail to add value to the process of business and as such are exploitative. If you are among the elite who can actually understand the intricacies of quantum mechanics, derivatives and collateral debt obligations you cannot aid in fixing the system because you are already profiting from it. Simply, these transactions are too complex for regulators; they are not illegal but creative mechanisms to make money on transactions.

Well what is this based upon? None of these mechanisms can exist without the compliance of fractional banking. This system at best is supported in a convention on the value of currency, which is why it is illegal to start a run on a bank. The legislators empower this system as it all utilizes sovereign currency which allows them to set the fractional reserve/lending rates. Looking for answers within this system are at odds with the system itself. The real answer must lie outside of this system and I posit that it may through non-sovereign currencies and electronic ones at that.

Because there is already a medium of exchange in bitcoin whereby you can exchange your bitcoins for dollars there exists in the power of the Occupy Wall Street movement the ability to rewrite money.

If everyone supporting the OWS movement puts $10 into bitcoin the exchange rate will go from 1-$4.30 to 1-$50. This will be the first example of non-sovereign currency going viral and the rush will not stop. Because of the returns available there will be a rush to invest...early adapters will not only invest they will convert all assets to the new medium of exchange as the standard sovereign currencies devalue. finally institutional investors will follow suit and last but not least sovereign governments.

This change will disenfranchise the 1% so identified with the movement more than any other group. Finally when sovereign nations are forced into converting they will not have a ready means of taxation whereby a Robin hood or transaction tax may be implemented causing speculation to pay for its participation in the economic process.

Smarter people than me please expand on this thread but remember the ideal of viral is very new and there are no reasons that this would not be a solution.



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[-] 1 points by alex5045 (40) 12 years ago

I suggest that we have one goal that unites us and it is that we want to get our government to reflect and represent we the people and not those the ultra wealthy.

Lets not get characterized as being far out socialist liberals bent on destroying society as it is today! I am sure there are many points and goals that can be detailed in a manifesto - and I am equally sure that there are many opposing views with respect to these goals. The very word “manifesto” conjures up the aura of violent revolutionaries demands. We cannot give the small elite few who currently “run the country and make all the decisions for us” the opportunity to dismiss us as radicals.

Today we cannot hold a real discussion on the merits of any of the points/demands listed in today’s manifesto - because our elected representatives reflect those who will ensure their reelection. Until we change this and get the money out of politics we will never achieve any of the points listed in today’s manifesto!

Our first step - our initial goal and what I suggest should be our sole unifying goal must be that we get back control of our government. Once we have representatives and senators who understand that they are responsible to "we the people" and not a few powerful people - then and only then will we have a chance of dealing with the individual items listed in the manifesto.

Once this happens we can debate taboo subjects like Forgiveness of Student Loans, Ending Foreclosures, the lack of morals and ethics on Wall Street, term limits, …

I am not saying whether I am for any of these or against them - as the Arab Spring sprung from the inextinguishable requirement that “the people” have their voices heard and not only heard but listened to and acted on - we need to have representatives who represent us.

This is what we need - we need go no deeper - we must have our governments' back. Once we do then true debate that does not reflect the special interests will take place …

Take back what is yours … that which is ours

BE YOU American, British, French, Italian, Australian, Chinese, Russian, Libyan, Tunisian, Yemeni, Syrian, WE ALL HAVE A SINGLE COMMON GOAL - IT IS TO GET OUR GOVERNMENT BACK.

Alex P