Ed-vise Episode 283

A lecture on serving size GOOD MORNING!!! to you all! Yup, Newbie gave me a lecture last night about serving sizes. See, she asked for peppermint pretzels as a bed time snack. I gave her 4. Well, “that is not the serving size” were the words used. Evidently 5 was the magic number.

Tech Talk Tuesday Ed-vise today. Cause it’s TUESDAY…time for some TECH!

Read a great article last night about who owns Bitcoin. Whenever Bitcoin is mentioned, you can simply replace it with crypto-currency. I’ll call it crypto.

The article pointed out how fast crypto exchanges hands. From one wallet to the other taking about 10 minutes for the programming to do the calculation and the blockchain to make a note about the transaction. Simple as that.

See, blockchain and crypto came about because the banking industries lost the trust of the people. You and I. Mostly because of the various financial crisis; a lot because of the abuses the banks place on their customers. So, programmers created a financial system where banks were no longer needed.

Banks were set up, originally, as holding institutions because it was really a pain to haul around a ton of gold. Over time, people felt they needed a mechanism to provide safety in transactions. Something that could verify I was sending my money to a reputable and honest source and that source would then provide me with whatever it is I bought. The banks met that need. And then they got greedy and basically stopped providing the trust.

Now, with crypto, we can conduct our own transactions and avoid the “middle man” of the bank. We simply “connect” wallets via certain codes (called “Keys”) and do our business.

But, that “middle man” is what the government uses to track movement of money. Thus, if the “middle man” is no longer needed, the government cannot track where money is going. Further, with crypto, money can move globally…in 10 minutes or less. Once the other wallet has the crypto, they can transfer it to another wallet…in 10 minutes or less and on and on it goes. Never being caught. Which is the “fear” that gets promoted to encourage regulation.

That fear causes overreaction of the crypto sector. It also glosses over the fact, the actual FACT, that the banks are becoming obsolete. In addition, they are doing a poor job of making sure criminal activity does not occur. In fact, more money has illegally moved through our banking institutions than have the crypto sphere.

So, do not be afraid of the technology. Read up on it. It doesn’t take much reading to have a general idea of the future. Unlike the vast amount of regulations the banks have created to hide the nefarious transactions they engage in. Remember the Wells Fargo issue? It STILL happens. Just under a different set of rules.

I’m just saying

That’s it for today. Take care of yourselves. Check in on each other and remember Santa cannot get stuck in a chimney because he suffers from CLAUS-trophobia! GET IT?!! CLAUS-trophobia? HAHAHAHHAHAAHA (tear)

Peace

Published by edhlaw

Son, husband, father, uncle, nephew, cousin

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: