By About Satoshi Smooth’s Corner
Satoshi Smooth’s Corner is an exclusive editorial section of CoinBeat.com featuring the analyses and insider information from CoinBeat’s Senior Analyst, trader and investment Guru, Satoshi Smooth.
Satoshi Smooth is a professional money manager with an advanced education in Finance, International Business, Economics, and Market Theory. He has worked as a member and Co-Chair of the official Bitcoin Economics team, headed up research for parties testifying in front of the Senate committee in the United States, and currently has over 9-figures in digital assets under management. He has consulted on over 25 ICO’s and works closely with a variety of Hedge Funds and Sector players as a consultant.
Satoshi Smooth graduated from an Ivy League School and worked as an investment banker/broker-trader for TD Ameritrade and Various Hedge Funds for 6 years before leaving the conventional markets to engage proactively in the crypto markets. He has been an active member of the Bitcoin community for 4 years and is known as one of the premier analysts and insider’s sector-wide.
For the first time ever and through CoinBeat, Satoshi Smooth is allowing the general public to get the inside track on behind-the-scenes workings of the cryptocurrency sector in an exclusive deal that is only available through CoinBeat.com to its subscribers. Satoshi Smooth’s Corner will give our readers professional analyses, tip, and tricks to investing as well as editorial style insider market knowledge available exclusively to our growing reader base. Subscribe today.
If you have a question you would like Satoshi to address or topics of interest you think the CoinBeat Community would benefit from getting his professional take on, please email asksatoshi@coinbeat.com to make your request or VIA Telegram @satoshismooth.
Welcome to Satoshi Smooth’s Corner – article #1
When we say financial pundits, we usually mean the financial elite that is generally seen as pundits due to their wealth and business savvy. These are people like Warren Buffet, who is generally known as among the top tier of financial pundits for his financial accomplishments and history.
The answer is pretty simple if you think about it. Who has the most to lose if cryptocurrency fulfills its promise and becomes as far reaching as Satoshi Nakamoto, the creator of Bitcoin, envisioned?
Imagine if, rather than having the power and resources controlled by a small group of people who could ultimately create money at will, money was limited and the resources were distributed beyond that class of persons to a much broader group. The current billionaires and financial elite would no longer be able to stifle ideas, enslave people or maintain their power. For all these reasons and more, the conventional financial pundits are simply looking out for their own best interests and maintaining the status quo.
To truly answer this question, we have to first understand what exactly money is and why it even exists.
What is Money and Why Do We Need It?
In the distant past, when humans began civilizations, they would trade amongst each other in order to survive and share resources. For example, a baker would trade bread for wheat from the farmer to bake the bread. Both parties would eat and enjoy this trade as it benefitted both parties. As civilization progressed and technology became more advanced, it became much harder to trade, as value for certain goods far outweighed the goods they were traded for.
For example, if you spent all year building a house, it would not make sense to trade that house for wheat. By the time you were ready to eat that wheat, it would go bad. So, humans decided to give an arbitrary thing value as a storage of that capital input. In a lot of cultures, that was gold and it became possible for a person to sell their labor in return getting an asset that would not degrade or spoil over time. In essence, that is what money was for a storage of your labor so it could last as long as you needed it.
A System Fueled by Greed and Debt
As civilization grew, however, human greed found that if they could create the storage instrument, whoever did so could bypass the labor process and ultimately trade that created money for someone else’s labor. This is what happens in today’s world.
The United States of America, for example, is around $18 trillion dollars in debt (conservative estimate). That is over $50,000 per man, woman, and child. The American government borrows this money by printing USD and using its citizens as collateral. This means that, in essence, they are selling our labor long before we actually do a job, or in some cases, are even born.
The problem with this system is that without controls to limit how much they borrow against you, they can essentially sell all your future labor. This is what is referred to as monetary slavery and all central banks are guilty of this type of creation of fake wealth. The problem is that eventually, this system fails: the people refuse to do the work, thus created money has no value and the system breaks, leaving the holders of that money with nothing but a useless asset that has no labor to back it.
Seems like a pretty stupid system until you understand that the very wealthy can live like they have unlimited labor if they control this money and can keep the system going as long as possible.
Crypto Renders This System Obsolete
Getting back to the question, if a financial pundit like Warren Buffet no longer had the equivalent of thousands of lifetimes of labor stored, what would he do? He would have to actually work, and couldn’t live a lifestyle that would take lifetimes of labor to create.
This is a very basic reason why the financial elite and pundits simply undervalue cryptocurrency. If they were to acknowledge that an asset existed that couldn’t be created at whim, couldn’t be manipulated, and was a fair store of value, their money would essentially become less and less valuable. This new asset would become the new money and they would need to work to earn it, as it couldn’t be created.
Additionally, the financial pundits also own and operate a system called the “banking system.” With this system, it is possible to store everyone’s labor, control how they spend it and even prevent them from accessing it if they so choose.
In essence, even though you have $10,000 in the bank, if you couldn’t access it or are prevented from using it, is that money really yours? No! It is a means of control. Whoever (and whatever) holds this money – an asset that receives social consensus and has a perceived value by society – is essentially in control of the people whose money they control.
Cryptocurrency offers an answer to a lot of these underlying problems with the banking and monetary systems. The financial pundits are aware of the fact that it has this potential, and they will fight it and discredit it, at all costs. This is not because they think it is valueless or a scam, but because they understand its true value. It has the means of redistributing wealth like nothing humanity has ever created. That means they will need to work a lot harder to live the lives they have become accustomed to.
Putting Power Back in the Hands of Regular People
Using cryptocurrency means that a person can be in control of their labor, trade for what they want, with who they want, through a median that can’t be manipulated or controlled. It would make the banking system have no value and would make the elite powerless to stop the use of capital as the masses saw fit.
Think of it like this: if, instead of the government spending money to build nuclear weapons and give tax breaks to oil production companies, they had no means of printing the currency used to do those things, would the people choose to do those things? Imagine if cryptocurrency holders decided to backspace exploration or spend money on social programs. There would be nothing the elite could do to stop them.
Cryptocurrency is not racist and not restricted to invisible borders. A person with a Bitcoin, for example, whether from Somalia or Europe, would have the same Bitcoin with the same value. They would no longer be able to divide humanity, and the pooling of resources would not be based on what benefits the few, but what the majority decision was the best way to spend their labor. We would not give that social consensus by handing over our cryptocurrency to just any project, we would choose only the ones that benefited us, the actual laborers.
The Financial Pundits Don’t Want You To Know This
Unfortunately, very few people have an understanding of financial markets, monetary systems, or how the current fiat system works to understand that they are essentially slaves. The ones that do are quickly initiated into the elite and choose to keep their mouths shut rather than upset the status quo that they also now benefit from. That is all starting to change as the internet has made the open sharing of this type of information possible. Cryptocurrency and similar ideas will become more and more relevant as the masses gain this knowledge and learn these truths.
Cryptocurrency is in its relative infancy and most people are unaware of how to get started investing into the sector. The majority of them will simply sit on the sidelines and not invest because they listen to these pundits. The ones who do think it has the potential to make them financially independent often lack the education to understand how market conditions work.
Much like the conventional system, there are few financial experts willing to help them truly embark on the road to freedom. Myself, Satoshi Smooth, and all of us at CoinBeat, believe it is imperative to further humanity and help our readers achieve financial success and freedom. We are witnessing the biggest redistribution of wealth in human history and anyone has a fair chance to get their piece.
CoinBeat is a publication that connects cryptocurrency investors with professional cryptocurrency traders, analysts and insiders who understand these market conditions and the technologies that drive the sector. Through CoinBeat, it is possible to piggyback on the expert knowledge of these insiders, mimicking the portfolio positions of these sector experts. So, make sure to check back regularly for the latest updates. The daily and weekly market recaps are a great way to stay ahead of the informational curve and my own corner of CoinBeat, “Satoshi Smooth’s Corner,” will have some special insider information and trading strategies to help on your crypto journey.
If you have any questions or content for me that you would like me to cover or clarify, email, asksatoshi@coinbeat.com and make sure to subscribe to CoinBeat to be among the first to get access to new information and editorials that matter!
Comments