Nov 22, 2018
It my birthday so give me a minute of your time.
Premise -- Wealth comes via transactions.
For the last 100 years we have had central banks giving people the ability to exchange goods and services. If a bank trusted you then you could do more and more transactions. The next century will not be this way. More and more exchanges will happen via Bitcoin and not through centrally controlled banksters. Yes 2.2 trillion (current value of the Canadian banking industry) will be removed from the TSX and transferred in to a new asset class called crypo currencies. The current Bitcoin market cap is only 78 billion so Bitcoin needs to grown 270 times it current value just to handle the banking needs of Canadians. Ok, in the future, I don't think Canadians will be dumb enough to store 1/3 of their stock equity into banking assets.
Every time someone taxes a transaction the velocity of money slows down and society is worst off. The Bitcoin society is trying very hard to reduce transaction costs. Currently the Lighting Network is over 2 million in value. So storing some Bitcoins on that network will reduce your transaction costs to Satoshies (1/100,000,000 of a Bitcoin).
Different tax bail outs have reduced the governments ability to help out Alberta's Oil Industry so currently Alberta is stuck at selling it's oil for $14 dollars per barrel. Alberta 100 billion deficit is nothing to the 16 trillion dollars Albertians have received for inheriting a lot of dead animals and plants. The NDP and Liberals want to improve the GDP by spending and yet getting above 3% growth in GDP, because of population growth restraints, is very hard to do. That is way my birthday was so important for Canada. Have a great day!
Posted by King Arthur