The Problem
Centralized control of currency issuance is the largest social justice issue of our time.
Quick Overview
There is a growing current of thought that worldwide social-political-economic power structures are at risk of collapse. The narrative explains that controllers of these systems are willing to do anything it takes to maintain status quo. It has been claimed that they will attempt to cling to their dusty seats by printing money, controlling fake narratives on just about every subject, release viruses and incentivising wars. Whatever we all believe about this narrative, it is evident that civil unrest is brewing. People are not happy.
It is time for change.
History teaches us that power corrupts, and that absolute power corrupts absolutely.
Our community believes that the centralization of currency issuance is the core driver of all corruption around the world.
Whilst such centralization has undoubtedly lifted civilization out of the dark ages, the consolidation of power that it affords has undoubtedly also led to catastrophic inequality.
As the internet pushes the “anti-billionaire”, “anti big pharma”, “anti big brother” narratives around the world, demand for a decentralized, and practical, alternative to centrally issued debt-based currency is at an all-time high. Whilst the centralization of power continues unabated under a guise of global warming and environmentalism, a growing number of people, perceiving the abhorrent truth, have chosen they will no longer comply. Global leaders such as Michael Saylor and Elon Musk are vocal supporters of monetary diversification and reform. The “anti-central-bank-control of-printing-money” rhetoric can no longer be brushed off as belonging to a small group of conspiracy theorist.
Fixed supply and proof of work are great theories but impractical solutions for day-to-day existence in the short, or long term, for very different reasons. Decentralized units of account such as Bitcoin are far too volatile in comparison to goods and services. As a result, we believe in the short term, they do not have useful stability which the real world needs to conduct day to day commerce. The volatility of Bitcoin (and Altcoins) when compared to fiat value leads to pumps and dumps, and a general all round bad feeling for crypto.
'There is no situation in which a rational person would want to spend a Bitcoin, as it might rise in price later. This resistance to spending does not encourage monetary velocity; it encourages hoarding and centralization of supply. MicroStrategy for example now owns 1% of all Bitcoins. This centralization of supply is not beneficial in the long term to serving humanity’s needs."
'There is no situation in which a rational person would want to spend a Bitcoin, as it might rise in price later. This resistance to spending does not encourage monetary velocity; it encourages hoarding and centralization of supply. MicroStrategy for example now owns 1% of all Bitcoins. This centralization of supply is not beneficial in the long term to serving humanity’s needs."
- Bish Smeir
IMPORTANT NOTICE
Nothing in the website constitutes investment advice, and any person considering an investment in the Vow token should also do their own research and take professional advice as appropriate.
Last modified 4mo ago