Penniless Wealth!

I surround myself with friends who regularly and reliably raise the bar on my being able to conceive of and discuss complex issues; today I woke up to be confronted by Brother Dave armed with an excellent Thought Project!

To paraphrase what he proposed: “Because people can become wealthy with money that belongs to no one’s government, can we gain more than we lose as citizens?”

I sat down to fresh fruit, and a mug of Erva Doce tea to soothe my burning muscles before talking to my dear friend Brother Dave, who wastes no time before jumping into and deconstructing a complex issue.

We arrived at this crucial junction after discussing and dissecting my previous article on how people with at least an intermediate level of understanding in BitCoin and Blockchain can secure what they have, in private.

I go over BitCoin in detail and more specifically in BitCoins Bloody Battles, today I simply wanted to run through his question as a Thought Experiment.

“Does someone no longer constrained to the currency of where they were born, become stateless?”

He asked me to consider several points and went on to flesh out these points:

  • Every nation on earth has a system through which anyone can deposit a specific amount of money into a business or bank account in the country they want to become a citizen of. Then they become a citizen. Yes, buying a passport that easy.  These systems exist and are priced according to the desirability of the passport.

 

  • Why is an American passport worth more than one from Somalia? It’s not the terrorism.  The Somalian government is not stable; thus, their currency is one of the least desired.

 

  • Remember, a Chinese passport is worth more now than it was 40 years ago and they are no less Communist now than they were then. What has changed is that they grew their middle class into a financial powerhouse. Financial stability goes hand in hand with the power of, and desire to become a citizen of any country.

 

  • Passport rankings are a parallel of countries with financial and political stability.

 

This will certainly be an issue in the days to come with Bitcoin and Cryptocurrency gaining steam and momentum every day, and twice a day when the people from the traditional financial establishment show their fear by trying to deny it.

Can we achieve “statelessness” by only owning BitCoin or Cryptocurrency that every country accepts?

Every day we see clear instances of wealthy companies and wealthy individuals revoking citizenship where they were born, in order to go live in a place where their income and savings are not taxable.

It’s common practice for people with high net worth.

I propose that governments and traditional financial institutions have never lived off of taxing the wealthy fairly, instead they overtax the working-class and the poor.

Governments do not fall when rich people avoid paying taxes and their fair share, they fall when average working-class people learn how to save their earnings just as effectively!

My answer for Brother Dave isn’t predicting when you can use BitCoin or Cryptocurrency to become stateless, its telling everyone that the mechanisms are already here.

BitCoin frees us because the value is not tied to any government backing.  It is completely supported by the business and communities that use it all over the globe.  That completely cuts out all interference from Government or Traditional Financial Institution.

Now is just the first time that people underserved, underserviced, and preyed upon by Traditional Financial Institutions may be able to escape the rat trap!

I’ve written other pieces on BitCoin strategies and tactics to answer questions you haven’t asked yet.  

If what I wrote helps, send $5 in BitCoin to this address.

It’ll buy me coffee to fuel my mind while I write!

1AAEBJW9gC1bt6U6UjBWS4g6A6zDLhKMCb

~Watt, YusefWateef (at) Gmail (dot) com

2 comments

  1. Butterfly Jewel

    Yes, when I first learned about Bitcoin in 2013, those who introduced it were part of a Nomad group where most members’ goal was to live off the grid. That was back when it was well below $20 per coin. Lol…I like that…”leave pieces of bitcoin” at the end of your article. 🙂

    Liked by 1 person

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