After a short pause, the cryptocurrency niche is getting back up on its feet. A lot of people wanted to buy their way into the niche when they saw the all-time high of Bitcoin when it crossed 60 000 dollars. But then, a couple of days later, it went back down to 29 000.
This discouraged a lot of people who are now thinking that the entire practice is a big gamble. However, there is one thing that they don’t understand, and that’s the philosophy behind these coins. We need to ask the question of what makes markets, how does money work, and how we can ensure a stable future.
To start, we can say that money is a means we use collectively to exchange our time. When you go to work, you’re trading your skills and your time for a paycheck. The people who give you the paycheck are in contact with the central banks, which are printing the dollar bills. You can go to this link for more information https://www.ft.com/content/1f8945ce-1af7-4545-b060-d538bb7b7ac8.
We can think of them as the lords when it comes to the corruption of the monetary system, and they can direct the way in which the world can move. They control our time, and they’re the ones who choose the disparity of wealth in specific nations. Every central authority that wants to meddle with the monetary system eventually degrades morally because they want to steal from their people.
This breaks down society bit by bit, year by year, with rising inflation rates. The only way to combat this system is by taking the power away from these authorities and giving it back to the people. Whenever human beings get into a position of power, they want to exploit it and manipulate it to their advantage.
Even the purest of hearts have asked themselves the same question. As the saying goes, the line between good and evil goes through the heart of every single human being. Since we have a desire to become powerful, we need to take those positions away. This means that the only way to have a monetary system that can’t be corrupted is by trusting in Bitcoin and other cryptocurrencies.
Why do we use dollars instead of gold?
For more than 4000 years, people have chosen to trade in gold. There are a lot of reasons for doing so. First of all, gold is a limited asset that’s hard to come by. It’s scarce, and no one can produce it out of thin air, compared to the dollar, which can be printed an infinite number of times.
One of the biggest problems that humanity has is that we always want more than what we pay for. When we order a product online, we want free shipping. That’s also one of the problems of government, which is also run by people that do nothing and want everything.
These institutions have always meddled with the money market to seemingly make it better, and their efforts have always made matters worse. Instead of normal peer-to-peer trading and lending, they invented an instrument, paper money, which they could control, monitor, and earn back in the form of taxes.
Of course, the main point of having this kind of body is to ensure that the rights of property, liberty, and life are safeguarded. However, they’re doing their job by counterfeiting money and monopolizing the market. Let’s go back a little bit to 1970 when Nixon decided to leave the gold standard. Ever since then, the currencies of the world have been promises of value that are written on paper.
These promises will forever be unfulfilled because there’s no backbone to them. Since they’re not linked to anything besides trust, the fabrication and printing of more money is an even bigger falsehood. They can manipulate the market in every way, shape, and form.
They can use it as a weapon or a tool, depending on the circumstances. They can steal the time of people to make them work for something that’s essentially worthless and destroy the futures of their people by raising the rates of inflation.
How does PKT come into the mix?
People are running out of options when it comes to holding their money. If you keep it in cash, inflation is going to nibble at it with the rate of 2 percent a year. With the rate of artificial boosting, that percent can become even higher.
For that reason, people need to invest in assets that will be immune to inflation. Well, PKT cash is a way for people to use the spare bandwidth they have at the end of the month with the ability to become part of the movement that will create a new internet with no censorship and that will be sustainable on its own without any providers.
Think of it as having an Airbnb for your bandwidth. With Airbnb, you can rent a spare room in your home, and someone will give you money for staying in it. PKT Cash is the same thing but in relation to network space. In exchange for your bandwidth, you can get coins that you can exchange for fiat money, hold them, or exchange them for other cryptocurrencies.
Of course, everyone knows that Bitcoin started in 2009, immediately after the crisis. That was a new type of technology that started to revolutionize the world. Soon after that, in 2011, scientists found a way to access the internet without going to a service provider.
You could access the same network without paying for any bandwidth. But not a lot of people know about it. Now, with the rise of more new-age cryptocurrencies, there is a financial incentive to do it. You could pay for your bills by changing nothing about the way you live or use the internet.
The only thing you’re going to need to add in your life is going to be a small box that’s going to be using the internet when you’re not. It’s a win-win situation.