What up, Vigilantes? We're witnessing some extremely significant developments right now, so I wanted to make a video and share my thoughts with you.
It begins with a powerful Bitcoin commercial that hilariously exposes the flaws of the traditional banking system. It's a system that charges fees for everything, takes days to transfer money overseas, and can even charge you for having insufficient funds in your account. Unsurprisingly, people are losing faith in this antiquated system, especially after events like Lehman Brothers and Bear Stearns collapse.
I mean, how could anyone still believe in this system after those fiascos just boggles my mind…
However, there is a solution to this problem, and it is known as cryptocurrency. Cryptocurrency has been around for over a decade and provides a way to operate outside of the traditional financial system. Unfortunately, many people in the cryptocurrency space have been led to believe that they require externalities to Satoshi Nakamoto's blockchain technology. As a result, people have come to rely on centralized exchanges and crypto banks, which defeats the whole purpose of cryptocurrency's decentralized nature.
It’s crucial that you watch this video as this is such an important moment to learn, introspect, and make changes in your financial life…
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I want to emphasize that the true value of cryptocurrency is found in its self-sustaining and decentralized nature. Consider the cryptocurrency Monero. It does not require a bank to function. Its miners, full nodes, and developer network all collaborate to keep the system running. This is the essence of decentralized finance. It’s a true Byzantine Fault Tolerant system…
The recent bank runs at Signature Bank, Silicon Valley Bank, and Silvergate Capital highlight the risks associated with relying on centralized exchanges and crypto banks. These are not true crypto institutions; rather, they are legacy financial institutions that have added cryptocurrency to their portfolios.
I'm encouraging everyone to actually use cryptocurrency rather than just store it. Anyone in the crypto space who has a crypto business that is not on-chain is being hypocritical. If your reserves aren't being verified at any given point in time, you're not putting the technology you're selling to work.
So, what can we do to prepare for the next banking crisis? The solution is straightforward: education. We must educate ourselves on these technologies, how to use them, and when to interact with them. This is the only way for us to regain control of our finances and protect ourselves from future disasters.
We truly want you to be well-rounded and educated…
Finally, recent banking system events should serve as a wake-up call to all of us in the crypto space. We must take responsibility for our own finances and educate ourselves on the true value of cryptocurrency. If we do this, we will be prepared for whatever the future holds, whether more freedom or more tyranny.
Thank you for joining me today, and remember that the best investment you can make is in your education. Stay vigilant.
Follow me on Twitter @VamosVigilante
Don’t miss my new workshop on the two most important issues of our time, The Answer to A.I. and the Solution to the Crypto Onboarding Problem. I believe that we need to get this information out so strongly that we’re giving it to you for free. So, hit that link and get ready to dive deep.
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