All Things Graft – The Value of Cryptocurrencies

hey guys welcome to all things craft the purpose of today's video is to attempt to explain the value of cryptocurrencies many people today believe cryptocurrencies are simply just another asset to speculate on another investment vehicle like a stock or commodity that can be traded to make money now although you can make money trading or investing in cryptocurrencies this is not why they were created in order to understand the true purpose of cryptocurrencies we need to understand the history of money there's just no way to really appreciate their value if you don't have a basic understanding of how we got to where we are with our current monetary system now in order for you to really understand this story we must first understand how our current monetary system works to do that all we have to do is answer a simple question where does money come from in the US and in almost every other country in the world new money comes from two places a regular bank like the ones you see all over the place in town and from the country's central bank which in the u.s. we call the Federal Reserve a regular Bank creates new money every time it gives out a new loan if you've ever borrowed money to buy a new car a new house to finance your business or even just bought something with a credit card you've received brand new money that Bank created out of thin air now there are regulations which limit how much new money a bank is allowed to create and it's based on how much money the bank has in deposits this is my banks are always trying to push people to open up new bank accounts and make a deposit the more money they have in deposits the more new money they can create and the more money they can lend out now banks aren't in the business of giving out free money banks lend out money in order to earn money they give you a loan so you can pay back that loan at a future date with interest the interest is how the bank earns its money now think about that for a moment the bank creates new money for free out of thin air it lends it to you so that you can pay it back at a future date with interest how does a bank get away with that and what about the US central bank the Federal Reserve how do they make money well they create money in the exact same way except the only ones allowed to borrow money from the Federal Reserve are regular banks the only difference between how the Federal Reserve creates money and how regular banks create money is that the Federal Reserve is not required to have any deposits or any money in its accounts they can simply just will money into existence you see you and I we work to earn our money regular banks and the Federal Reserve don't work for their money they just created but wait a minute you could argue that the Federal Reserve is part of the federal government and that the government should always have the power to create money they need to create money to pay for public works and to fund our military so they can keep us safe well that's where you're wrong the federal bank is not part of the US government in fact there's actually nothing federal about the Federal Reserve the Federal Reserve is just another private bank with shareholders that hold stock and earn interest and can you guess who those shareholders are other regular banks you see our entire monetary system is controlled and one my banks and only they have the power to create money and remember how I said that banks are in the business of giving out free money well neither is the Federal Reserve the US government gets its money from loans it receives from regular banks regular banks get their money by simply creating it or by borrowing it from the Federal Reserve first and then lending it to the government the money lent to the government must then be paid back at a future date with interest and where does the government get the money to pay back their loans and interest from you and I in the form of the income tax you see you slave away all year long working for someone so you can earn money to provide for your family and at the end of the year you must have saved enough money to pay your income tax so that the government can pay back the money they owe the bank's money which was originally created out of thin air and if you don't pay that money up you'll go to jail does this sound like a fair system to you our entire monetary system in the United States is a huge central bank run scam on the American people don't believe me check this out the US government began collecting the federal income tax back in 1913 can you guess a year in which the Federal Reserve Bank was created that's right 1913 do you really think this is a coincidence the founding fathers of the United States of America knew of the scam behind central banks and how devastating they could be to the people of a nation so much so that they made it unconstitutional for there to be one in America yet we still have one but how could this be how can a nation built upon the principles of freedom be governed by a monetary system of slavery and how do cryptocurrencies play a role in any of this well like I said in order to understand the true value of the currencies we need to understand the history of money so let us begin our story in our very early history people didn't use money instead they traded what they had for something they wanted this was called barter if I had apples and I wanted bananas I could trade my apples with someone who had bananas except if the person that had the bananas didn't want any apples then I wouldn't be able to get any bananas so what happened over time is that instead of people trading their own things for goods or services they began to use a system of money at first people began to use things like feathers beads and seashells as a form of money but he eventually moved on to using gold why well because gold is attractive it's soft and it's easy to work with gold miss for example were able to easily turn gold into coins which could be used as money as people began to transact with gold and started accumulating lots of it they began to have a problem people started stealing their gold so needing a way to keep their gold safe they asked their local Goldsmith if they could store their gold in his vault for a fee the Goldsmith will agree and began issuing out paper receipts known as io u–'s which showed how much gold a person had stored in the Goldsmith's vault if you ever wanted to withdraw your gold all you would have to do was show the Goldsmith your IOU soon people began using the Gold's means IOUs as money because it was pretty much as good as gold thus the very first form of paper money was born now it didn't take long for the Goldsmith to realize that people rarely ever came to his vault to withdraw any coal so he came up with the idea of giving out loans in the form of these IOUs from which he could earn interest this turned the Goldsmith business into the very first bank now this lending of IOUs worked great for some time and it made the goldsmith very rich but greed began to set in eventually the gold Smith started loaning out more IOUs then he had goal to back them up as he kept making more and more of these IOUs which weren't backed by any gold people started to notice that things were becoming more and more expensive you see as a goldsmith made more IOUs people began to have access to more of this new form of paper money the more of this new paper money there was the more people were willing to spend it if I was previously charging one gold IOU for an apple and decided to raise the price to two IOUs then people wouldn't mind paying the higher price because there was so many io u–'s going around this is what economist called inflation it is the depreciation of the value of an economy's paper money as more of it is created now going back to our story as inflation increased people began to suspect that the goldsmith didn't actually have enough coal to back up all of his IOUs so little by little people started withdrawing their goals from the Goldsmith's vault as word got out more and more people began making withdrawals which eventually ended up causing the very first run on the bank those who went to the bank first were able to get their gold but he eventually there was no more left the rest were left with nothing except worthless pieces of paper in the end everyone had to go back to using gold as money now the Goldsmith's business didn't go unnoticed in fact many people thought this banking business of storing gold in loaning out paper I used to earn interest was a brilliant idea it was a great way to help expand an economy very rapidly so as time went by government's decided to implement the Goldman's banking practice but made sure to regulate it so that what happened to the Goldsmith's wouldn't happen again this give rise to central banks which were formed in order to set rules and regulations that all other banks must adhere to now throughout history all central banks have shared the same fate they've all failed why well because they all go through the exact same cycle that the Goldsmith went through in our story first the economy starts off with a gold based monetary system then banks and government come along and offered a store gold and io u–'s which give rise to a paper money monetary system that's backed by gold then central banks are formed and take over the banking system with the promise to regulate it eventually because of the incredible amount of government spending central bank's end up tricking the government and its people to come off the gold backed standard so they can spend more money and help quote boost the economy this in turn leaves the central banks with absolute control of the monetary system leaving us with worthless paper money on backed by anything at this point it's no longer considered paper money but simply a currency now as regular banks and central banks begin the mass production of this new paper currency inflation begins to set in causing things to become more and more expensive soon people begin to lose confidence in the banking system along with its new paper currency has more and more people become aware of the scam all it takes at this point is a country to go to war or for there to be some type of financial crisis that force the central banks to print more currency which ultimately leads to his complete devaluation and the whole system comes crashing down the takeover of a government and its economy by central banks has happened over and over again throughout our history and it's exactly what has happened to the United States along with every other country in the world you see we've fallen victims to central banks once again but unlike in the past we now live in a digital age and for the first time in history we actually have a way out of the banking system and it's called crypto currencies crypto currencies or what I like to call freedom currencies are a new type of digital monetary system they are decentralized computer programs that run on thousands of computers around the world each holding a copy of every single transaction that has ever occurred on it cryptocurrencies network if one of the computers on any network were to be turned off or forcefully shut down then it wouldn't matter because all other computers on the network would continue to run the program this makes cryptocurrencies almost impossible to be shut down by any government or any organization the only way to shut them down is to cut off the power and the internet to the entire world which is highly unlikely and even if this did occur the network would pick up right from where it left off once the power is restored almost all cryptocurrencies are programmed to produce a limited number of which means they can't suffer from the devaluation of fact cost by inflation and they are so incredibly secure that even the most powerful computers on earth are incapable of hacking the network but here is the most important thing about cryptocurrencies they completely eliminate the need for us to rely on banks you see once you create your own cryptocurrency wallet all you ever have to do to receive money is to give out your public key this is the equivalent of giving out your bank account number to send money all you need is your private key which is the equivalent of a highly secure PIN number as long as you never give anyone access to your private key your money will always be kept safe on the network now there are many different types of cut the currencies out there each with its own specific use case let's go over a few of the most popular ones the most common cryptocurrency around at the moment is Bitcoin Bitcoin specific use case is that of a decentralized digital currency it's job is to be used as online money to purchase goods and services over the internet it is considered by many to be digital gold as it shares many of the same characteristics as real gold like coin is another similar digital currency and it's considered to be the silver to bitcoins gold Manero is a digital currency that is completely private and untraceable think of it as a Swiss bank 2.0 – is a combination of both Bitcoin and Manero with its privacy feature being optional ether the second largest cryptocurrency by market cap is a cryptocurrency found on the etherium network aetherium is a platform where developers can build apps or decentralized applications think of aetherium as a world computer that is always on and could never be shut down ripple the third largest cryptocurrency by market cap is a global real-time settlement network which aims to connect banks around the world and allow for cross-border payments its goal is to help banks survive in this new era of cryptocurrencies now if you're against the existence of banks you probably don't like Ripple very much nem or the smart asset blockchain is built as an enterprise-grade solution that enables businesses to easily implement the use of blockchain technology without them having to rebuild their entire business infrastructure think of nem as a plug-and-play blockchain for businesses now there are many many more different types of cryptocurrencies out there each offering different types of blockchain solutions in fact there are over thousands of them and there isn't enough time here to cover them all but there is one more cryptocurrency I'd like to quickly mention in this video before we wrap things up and that's graft graft which stands for global real time authorizations and fund transfers is a decentralized and open source payment platform which enables for the processing of real time authorizations and settlements of merchants payments you see the problem with almost all cryptocurrencies right now although being revolutionary is that they are simply too slow to be used at point-of-sale terminals this is why you almost never see any gas stations or grocery stores accepting cryptocurrencies as a form of payment confirmation times are just way too slow which doesn't allow them to compete with transactions beats like those of debit cards and credit cards the craft payment platform however enables buyers to utilize cryptocurrencies to pay at any compatible point-of-sale terminal and it does so with instant authorizations for a cryptocurrency enthusiasts like myself craft is a very exciting project which could potentially catapult up the currencies towards mainstream adoption now for those within the cryptocurrency community that are on the lookout for potential income opportunities you may be interested to know that craft is building a completely decentralized payment ecosystem which requires many market participants in order to fully function on a global level these include miners and super node owners exchange brokers application providers merchant service providers credit card gateways payment brokers and regional boards all of which will come together to facilitate seamless cashless transactions between consumers and merchants at minimum cost now I've already made a few videos regarding grass potential so I won't go in depth in this video but I do encourage you to check them out I really hope you found this video informative and educational to conclude I'd like to leave you with a short audio clip of a response given by Mike Maloney when asked his opinion about the attempt of God to regulate cryptocurrencies his response completely summarizes the main point that I'm trying to get across in this video take a listen the only thing that they can do is to regulate the exchanges the points where you convert crypto currencies into national fiat currencies and if we start using crypto currencies more in exchange where we're buying things with it that's what's going to lead to freedom and just playing around with it and trying to trade this crypto currency for that one and to try and make some speculative gains that's not the real point here the real point here is that we have the opportunity now to have a new world month you know the world monetary system is engineered to benefit a few at the expense of the many it's it's engineered to transfer wealth from the average person to the people that run the game the banks the financial sector and the central banks and the crypto currencies undermine that and they transfer the once the control of one's destiny into the hands of the individual instead of being a victim of what is happening you get to be the master of your own life you

3 thoughts on “All Things Graft – The Value of Cryptocurrencies”

  1. Nice Video! Graft should consider using your videos. I love the Graft project and will be heavily invested through its Supernodes , but the team really needs to work on their marketing… by the way what are your thought of Graft vs PundIX?

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