LitePay launches today – giving Litecoin hodlers more options to interface with the fiat economy via Visa cards! Goldman Sachs’ “Circle” buys Poloniex – granting the world the fiat “legitimacy” that so many people have been saying would never come!
As a trader, I’m happy to see the movement in the markets and see the sea of green flood back in as people get excited about the prospects of seeing “cryptocurrency” become “digital currency” as a legitimate investment for the masses.
But don’t forget that Bitcoin was created as a counter to the fiat economy. Heck, it could be argued that Bitcoin was created primarily as a replacement for Goldman Sachs. Remember that Goldman Sachs was instrumental in the destruction of the internet boom economy, and the creation of the subprime mortgage bubble. They have admitted to their participation in the creation of fraudulent investment vehicles, but the mainstream news today is VERY excited to see Bitcoin and the greater cryptosphere “legitimized” by the new participation of Goldman Sachs.
Now, I don’t mean to unfairly demean the investment bank, because they are not innately evil, as some would have you believe. But we need to remember that the major branches of the Federal Reserve System (of which Goldman Sachs is a major player) are instrumental in the perpetuation of the fiat economy wherein the US Dollar is a vehicle of control for the ruling class. Your money is a “Reserve Note” which is a fancy word for “debt,” and your citizenship to your nation is just labor collateral used to leverage debt for the big banks.
When I see headlines about Bitcoin being legitimized by Goldman Sachs, or Litecoin legitimized by Visa, I cringe because Bitcoin has never funded a war or sat behind closed doors to create a fraudulent investment vehicle or crashed the world economy while profiting on the downside. Fiat financial titans will bring in volume and liquidity, but they are NOT us bringing legitimacy.
Bitcoin had legitimacy because WE gave it legitimacy, Crypto Traders! I’m excited to see Bitcoin and Litecoin in the news, but don’t ever forget that it was all of us that brought it here when Goldman Sachs was still calling Bitcoin a “vehicle for fraudsters!”
So let’s rephrase the headlines! I’m proud to be bringing legitimacy to Goldman Sachs and Visa with all of you today! We, the community of pioneers in digital currency, are excited to finally be sharing modern economic vehicles and decentralized currency with the antiques of the fiat economy; in hopes that they can learn a thing or two about the power of free markets, free people and unstoppable exchange!
