Financial Freedom | The Philosophy of Economics
Random thinkering about financial independence and freedom.
Basic principles of financial freedom:
One cannot be independent of money unless he gives up to live in a society.
A man who doesn’t have to worry about money is financially free.
Worrying about money is the key because it heavily lowers the quality of life, i. g.: forces people to take unwanted Jobs and to deal with toxic people.
Someone who has highly demanded skills can consider himself as financially independent because he has something to convert into money every time although he has financial obligations like everyone else.
So, either you need an asset which generates income or skills to convert them into money to become financially free.
Therefore, you have to gain your freedom like a roman slave in a gladiatorial contest.
To be continued…
Ripple vs. Ethereum:
Suppose A wants to send money to B. If they use Ethereum they only need the consensus. But if they use Ripple they don’t need a consensus but a trusted third party (Gateway), trusted by A and B, say a trusted C. This is a huge difference!
One can say everyone can be a Node or a Gateway and he can speculate about technical possibilities how Ripple can be used but more importantly, what will the Ripple become?
Technically, you can be a trusted C like JP Morgan but can you compete with JPM? They would have the advantages of economic scale and also the already existing large user base.
Therefore, the trusted C would be a financial oligarchy. Like the 20/80 rule dictates, a few bankster would dominate the Ripple ecosystem.
Ripple is a private business to make the central bank system more cost-efficient and faster. Ethereum, on the other hand, is a decentralized project, powered by nerds, to give you more financial freedom.
Once the Ripple establishes the infrastructure and succeeds with the adaptation, the financial oligarchy will be the Boss, not the Ripple Company. The R. Company has to obey the oligarchy because the banksters can easily replace ripple with their own new crypto – say the banksters’ Shekel BS. For example, if they etablish a private foundation or an agency (like FED), maybe, they can replace XRP with BS in a month because the infrastructure and the adaptation will be already there, they would need only an upgrade.
Oligarchy is centralization, doesn’t belong to the decentralization. It is only one step before the dictatorship.
Therefore, the transactions in ripple ecosystem will be regulated as the same as the modern banking system. And it is not an alternative to the central banking system.
To be continued…
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No Investment or Financial Advice.
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