I agree that TEK and other high POS coins are a fair hedge against fiat money, but I also think they need to be a) decoupled from bitcoin and b) given a great deal more public exposure. I'm working on the first part, but don't know what to do about the second
Hi Biomech, if you can find the time could you please expand on this: "I also think they need to be a) decoupled from bitcoin".
This too, "I'm working on the first part".
Sure. Right now just about all alt coins trade against bitcoin, which bolsters bitcoin, but not really the coins themselves. They need more outlets, fiat, goods and services, even trade against other alts. Some headway has been made in a half-hearted way against a couple of alts, and almost none with regard to fiat. Easy interchangeability, whatever your political viewpoing, is an absolute necessity to the success of any currency, digital or otherwise, unless it's just among a small, select community. In that case, it has little utility.
As for "I'm working on the first part": I work under a rather restrictive NDA, but go here:
www.incryptex.com There will be a lot more information forthcoming in the near future. Without permission, I can't say much more than that. But we're all crypto believers, and we have the backing to make things happen. But with the failures and just plain sloppiness that abound in the crypto world, we're being very, VERY careful to get it right the first time.
It is no accident that monetary policy is only vaguely alluded to in public schools in the US. I can't speak to other nations because I don't know. But the history I was taught in the 70's and 80's bears little resemblance to the actual history of the founding of the nation, and did not mention monetary policy AT ALL until they spoke of the great depression. And then they straight lied. We are spoonfed a version of history that makes the rulers look noble, if occasionally misguided. Fortunately for me, I am a naturally inquisitive person. Unfortunately, I was in my 3rd decade when I started to understand the pervasive nature of the ponzi scheme known as the federal reserve, and to learn that it was the proximate cause of the so-called business cycle.
I agree that TEK and other high POS coins are a fair hedge against fiat money, but I also think they need to be a) decoupled from bitcoin and b) given a great deal more public exposure. I'm working on the first part, but don't know what to do about the second
Glad to see there is like-mindedness here. I can only speak as a Canadian, and here our banks are revered, almost perversely worshipped as pillars of the economy because we survived the 2008 financial crisis largely unscathed. But it was much due to oil wealth and government back-stopping, contrary to the official line. This time will be different if the global recession we are entering is protracted and oil production remains unprofitable -- hubris has given us massive bubbles in real estate and personal debt. Deflation will absolutely slam us. However, very few expect this. A great humbling will come.
But to stay on topic, I believe and have put money into cryptos like TEK for the reasons you state, a hedge against insane monetary policy. And it would be my wish that the growing communities of these coins band together and form an alt economy, as practical as that can be when we're all scattered across the globe. It could involve business partnerships, trade, investments, financing, angel funds, rewards, charity -- you name it. This might give coins like TEK needed utility, extra value and differentiate it from the others. Cheers.
Have a look at what I said to dollux, because I suspect we're already on the same page for the most part. The company I work for is in Canada, and it's founders believe much as you do. I live in the US, unfortunately, and I'm watching it turn into the Fourth Reich with a growing feeling of helplessness. It is my goal to get my savings, such as it is, out of dollars, but right now it's simply impossible to do so with BTC. But if I could buy and trade with a basket of alts, such as TEK and HYP which grow in size if not value, then I think I would have a good hedge.