If the following is useful to anyone, please do use it:
"Cryptographic Currencies in Your Portfolio?
Although human beings have a superior ability to think logically, it is sadly not the case that most do at most times.
Rather, we drift into largely uncritical support of paradigms that provide us psychological well-being: ‘cognitive dissonance,’ ‘petitio principii,’ ‘confirmation bias,’ ‘My country right or wrong.’
Cryptographic currencies are to conventional banking models at this second as emails were to snail mail twenty-five years ago.
Moreover, this is the commercial-adoption perspective. ‘Cryptos’ also have tremendous potential for the sequestering of wealth in the event of system failure – mayhem in the world’s banking system (‘bail-ins’!).
Now, we can discuss over coffee whether you might include a large or a small amount of a cryptographic currency in your portfolio; but my thesis here is short and sweet:
given both the commercial and system-failure aspects, it would be time well spent to do ‘due diligence’ on this technology -- you'll very likely end up holding at least some amount of crypto currency in your portfolio!
And Dnotes would be a good choice . . .
Mark Blair (‘IndiaMikeZulu’), Australia"
Mark, you made a number of great points but this is my favorite:
Moreover, this is the commercial-adoption perspective. ‘Cryptos’ also have tremendous potential for the sequestering of wealth in the event of system failure – mayhem in the world’s banking system (‘bail-ins’!).
Individuals and companies buy insurance for various financial protections, including mayhem. "
Cryptos’ also have tremendous potential for the sequestering of wealth in the event of system failure" System failure at a national level are already happening. The most publicized being Greece and yellow lights are flashing all over the world.
When there was a system failure, as it was the case with Greece a few weeks ago, it started with a "sudden stop" of all financial activities at the commercial level. Banks were closed; merchants could not re-supply to replenish inventories. Importers couldn't get letter of credit facilities to perfect their pending international orders. Its citizens were given limits on the amount of cash that could be withdrawn for ATMs. It has been weeks and the mayhem continues, with no end in sight.
Let us role play the situation. What if all exporters to Greece, every company and family in Greece, as well as the Greek government own a meaningful stash of DNotes? The answer is simple: there would not have been a "sudden stop" in commerce. Letter of credit for import would be replaced with conditional time send smart contracts, at near zero cost with instant payment after all the defined conditions were met. The consumers would just switch over from cash (euros), credit/debit card, and other forms of payment to DNotes. VAT, fees, and other taxes to be paid in DNotes would continue to come in to the government coffers. Grexit? Bring it on. If this had been the case, the mayhem might not even have started, but certainly would have been long over by now. The cost savings for the Greek government, companies and its citizens would be in the $billions, perhaps enough to service all the outstanding debts and have them paid off in less than a generation. We may be smart but we don't always do the right thing.
CFPs (Certified Financial Planners) who are reaching out to me at an increasing frequency on my LinkedIn professional network may have already realized, in growing numbers, that it is prudent to include a small percentage high risk digital currency in any balanced investment portfolio. That is precisely why we created DNotesVault and our family of CRISPs; making it easy, convenient, and safe for everyone worldwide to participate.
Is this a lesson learned? May be not; "Although human beings have a superior ability to think logically, it is sadly not the case that most do at most times". I agree, Mark. It is sad and tragic. That is my view and my inspiration to make DNotes to be the global digital currency for everyone.
