The Power of Cryptocurrency: Is Cryptocurrency Dead Money? (Article–Video)
By Pao Chang, author of EsotericKnowledge.me
Below is the transcript of the video. Please be aware that the transcript may not have all the information in the video.
Konnichiwa and welcome to Esoteric Knowledge. My name is Pao and I am the peaceable, living, and spiritual man possessing God-given rights. In this video, I am going to guide you on a short journey to explore some interesting information about cryptocurrency. After this journey, you should innerstand what cryptocurrency is on a deeper level.
To understand something on a deeper level, you need to study the words used to symbolize and define that thing. Words give meanings to things and therefore have the power to program the mind to understand the meanings and the reasons behind things, such as money and cryptocurrency. Let us investigate the word cryptocurrency to find some of its meanings, so we can understand it on a deeper level. The word cryptocurrency is defined by Investopedia.com using these words:
A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology—a distributed ledger enforced by a disparate network of computers. A defining feature of cryptocurrencies is that they are generally not issued by any central authority, rendering them theoretically immune to government interference or manipulation. [Bold emphasis added]
According to Lexico.com, the word cryptocurrency means, "[a] digital currency in which transactions are verified and records maintained by a decentralized system using cryptography, rather than by a centralized authority" (bold emphasis added).
To understand cryptocurrency even deeper, we need to study the etymology of the word cryptocurrency. We also need to dissect the word cryptocurrency by separating it into two words and analyzing the two words thereof. When we separate the word cryptocurrency into two words, it transforms into the words crypto and currency. Before we decipher the word currency, let us decipher the word crypto.
The word crypto is a prefix that is derived from the Greek word κρυπτός (kryptos), meaning "hidden, concealed, secret". This prefix is found in the word cryptography, meaning "the science or study of the techniques of secret writing, especially code and cipher systems, methods, and the like." Keep in mind that cryptocurrency and cryptography are intertwined.
To decipher the word crypto even further, we need to remove its letter "o", transforming it into the word crypt. This word is derived from the Latin word crypta, meaning "vault, cavern". The word crypt is defined by Dictionary.Cambridge.org using these words: "a room under the floor of a church where bodies are buried".
Is there a connection between dead bodies and cryptocurrency? To find one of the connections, let us decipher the word currency. According to Dictionary.com, the word currency means "something that is used as a medium of exchange; money" (bold emphasis added). The word medium is defined by the same online dictionary using these words: "an intervening substance, as air, through which a force acts or an effect is produced". Keep in mind that the word medium can also mean "a person thought to have the power to communicate with the spirits of the dead or with agents of another world or dimension. Also called psychic" (bold emphasis added).
One of the hidden definitions of the word currency is "flow of energy". To innerstand why currency means "flow of energy", we need to find and study one of the hidden meanings of the word currency. To find it, we need to separate the word currency into two words using the art of homophone. When spoken aloud, the word "currency" sounds similar to the phrase "current sea". What does a current do in a river? It flows to the sea. As a noun, current means "a flowing; flow, as of a river" or "something that flows, as a stream" (bold emphasis added). The flowing actions of currents are what cause the fresh water in the river to flow to the sea. Once the fresh water is in the sea, its "currents" are now part of the "current sea", meaning the "current of the sea". Hence, the word "currency" which is phonetically "current sea".
Currency by itself has no value because it is dead, which is why one of the definitions of currency is "something that is used as a medium of exchange" (bold emphasis added). Remember, the word medium means "a person thought to have the power to communicate with the spirits of the dead or with agents of another world or dimension. Also called psychic" (bold emphasis added). In order for currency to have value, it needs current. This current is the current of the sea. In the physical body, the current of the sea is the current of the blood. It is a spiritual force that animates the blood, giving it current and life. It is also referred to as the life force of the body. This spiritual force or life force is what gives currency or money value. Therefore, currency or money is a symbol of man's life force or living energy.
It is important to know that corporations, such as banks and governments, cannot give currency value. This is because corporations are dead bodies, also known as corpses, and therefore have no life force to produce spiritual current. Unlike corporations, man (male and female) is a living, spiritual being and therefore has the spiritual power to give currency value. Man has this spiritual power because man was created in the image of God.
To connect the dots, currency or cryptocurrency by itself is dead money. It is a medium used by corporations, also known as corpses, to transfer man's spiritual energy to the dead. The dead is made of corporations, such as banks and governments. Without man's spiritual energy to "charge" corporations with "currency" or "flow of energy", corporations cannot stay "alive". In other words, when you charge currency with your spiritual energy, similar to charging a battery with electrical energy, the currency becomes in a sense alive and therefore has value. This is why corporations need your currency or money to stay in business.
When you go into a corporation, such as a store, and buy a product using currency or cryptocurrency, you agree to give your spiritual energy to that corporation in exchange for its product. This exchange between the living and the dead allows currency to flow from the realm of the living to the realm of the dead, giving life to the economy. However, when the living and the dead become greedy, their greedy actions disrupt the flow of currency, causing economic problems. This is why it is important that the living and the dead do business with each other in a harmonious way.
Mankind has now reached a point where he needs to accept more responsibility; otherwise he will remain a slave of corporations. One of those responsibilities involves taking control of his currency. In order to do this effectively, men and women need to be able to manage their own banks. With the invention of cryptocurrency, men and women can now manage their own banks with little fees and regulations.
Some supporters of cryptocurrency believe that cryptocurrency should be free of regulations. I believe that some regulations are necessary because most men and women are still too spiritually immature to live without any regulation. The evidence of this is the fact that most men and women lack spiritual knowledge and do not know how to live in harmony with God's Law. The day when men and women can live in harmony with one another and nature, and stop committing sins, is the day when they can live without any regulation.
Many men and women believe that money is evil. Because of this, some of them believe that it is better to go back to trading goods and services using the art of bartering. Anyone who believes that money is evil has little or no knowledge of what money really is. On a deeper level, money is the magic medium for storing or exchanging men and women's spiritual energy, making it easier for them to trade goods and services with one another.
Even though money is not evil, it can be used to motivate men and women to do evil things. For centuries, many greedy bankers have been tricking men and women to exchange their living energy or spiritual currency for fiat money, allowing these bankers to gain free currency for no sweat. Instead of using their banks as secure buildings to store men and women's currency, which contains the fruits of their labor, many greedy bankers are using their banks and corporations to steal men and women's living energy through usury and unlawful taxes. The iniquities of greedy bankers have destroyed many nations, preventing mankind from achieving peace and prosperity.
Money is one of mankind's greatest inventions because it allows men and women to exchange their currency or spiritual energy for goods and services in a convenient way. Money also allows men and women to store the energy of their labor in a neutral medium, allowing them to transport the fruits of their labor to almost any place on earth. Before the invention of money, when a man wants to buy something, he needs to barter for it.
During the time of bartering, the economy was small, simple, and slow, and therefore bartering was mostly sufficient for trading goods and services. Nowadays, the economy is gigantic, complex, and fast, and therefore bartering is not sufficient for trading goods and services. If we were to go back to trading goods and services using the barter system, it would cause the economy to collapse.
Over the past fifty years, the global economy has grown so large and complex that even the current system of cross-border payment is becoming obsolete. Therefore, mankind needs a faster and better international monetary system. I believe cryptocurrency, especially decentralized cryptocurrency, is the answer for creating a faster, better, and more secure international monetary system. With the proper use of decentralized cryptocurrency, cross-border transactions can be processed in less than a minute without the need of a middleman or trusted third party, significantly reducing cost and errors. Therefore, sending international payments would be as easy and fast as texting someone.
I believe that this year 2020 and next year 2021 are the years that cryptocurrency will start to change the world significantly. In fact, many banks and corporations are planning to accept cryptocurrency transactions before the end of 2020. On July 22, 2020, the Office of the Comptroller of the Currency "published a letter clarifying national banks' and federal savings associations' authority to provide cryptocurrency custody services for customers". This means that many banks can now provide safekeeping for cryptoassets and cryptocurrencies.
I believe that decentralized cryptocurrency will help men and women to become more spiritually mature because it gives them the technology to manage their own banks, allowing them to take nearly full control of their money. Unlike traditional banking accounts, decentralized cryptocurrency accounts cannot be easily frozen by the government. These accounts are usually stored in offline or online crypto wallets.
Some online crypto wallets, such as Atomic Wallet and Trust Wallet, allow you to hold your private keys. This prevents certain government agencies from freezing or seizing your cryptocurrencies. According to Investopedia.com, "[a] private key is a sophisticated form of cryptography that allows a user to access his or her cryptocurrency. A private key is an integral aspect of bitcoin and altcoins, and its security make up helps to protect a user from theft and unauthorized access to funds".
According to Ledger.com, "[w]hen you own cryptocurrencies, what you really own is a "private key", a critical piece of information used to authorize outgoing transactions on the blockchain network. Whoever has the knowledge of this key can spend the associated funds. If your private keys are stolen or misplaced, or if you store them on a device that crashes, there is no bank or institution to issue a backup or a replacement: you lose access to your crypto" (bold emphasis added).
Being in possession of your private keys is empowering because they give you the power to control your cryptocurrencies and manage your own banks. However, if you lose your private keys, you also lose access to your cryptocurrencies. Because of this, managing decentralized cryptocurrencies requires more responsibility than managing centralized cryptocurrencies.
It is important to remember that cryptocurrency is not a bad technology. In the right hands, cryptocurrency can be used to spread freedom and prosperity throughout the earth. In the wrong hands, it can be used to enslave us. To prevent this, it is important that we support cryptocurrencies that are more decentralized. As of August 2020, some decentralized cryptocurrencies that I like to support are Bitcoin, Cardano, and Ethereum.
Many banks and online payment services are getting ready to accept cryptocurrency payments in the very near future. Global payment processors Visa and Mastercard are already making bold moves toward mass cryptocurrency adoption. According to Decrypt.co, millions of people in Mexico now have the option to pay for goods and services using crypto debit cards. Because many corporations are making bold moves toward mass cryptocurrency adoption, many people investing in cryptocurrency early and wisely will become wealthy in the next few years.
The current monetary system is going through a major transformation and it looks like cryptocurrency will replace fiat currency very soon. This is interesting because for the first time men and women all over the earth will be able to manage their own banks, allowing them to send or receive money as easy as a text message. Furthermore, they will have access to money free of inflation. This will prevent greedy bankers from stealing their wealth through inflation, which is a hidden tax.
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