Wealthy Technocrats Want to Control Movement of Money

by: Life During Wartime

Moonwishes sez: "... poor people in the USA are generally extremely wealthy as compared to the poor in third world countries. Many of the poor here have their cell phones, computers of some type, TVs and cable or downloaded TV shows, etc. "

The above describes urban and suburban poor.  I lived 10 years in a rural county with less than 20K residents.  Fewer than 60% of the adult residents could read and write at the 8th grade level -- which is a lower percentage than most developing nations.  A significant minority of the residents belonged to a cultural group that removes children from school at age 14.  I was an adult literacy volunteer, and discovered that it was not unusual for adults not to be able to write their own full name and address, or make change.  

I moved away in the late 1990s, before smart phones, but I'm sure some people have them because it's mot about reading -- just learning the meaning of icons and viewing pictures and videos.  And regular land line phone service isn't always available (imagine that in the UsA).  This group of people often do not have running water (not even a yard pitcher pump), plumbing (no water, duh), or electricity other than maybe a generator.

There's a difference between being poor because of some unfortunate event in your family that caused an unrecoverable financial setback, and choosing to live like it's the 16th Century.  I should add that these people are descendants of folks who came to North America centuries ago speaking English as their native tongue.  They are families of illegal "migrants".

Yes, they are "unbanked",  No, they do not have driver's licenses (but own junk cars and drive anyway, uninsured).  

Any kind of crypto-currency revolution will pass them by, just like universal free public education did.

People who live in developing nations, as a group, are emerging from poverty at increasingly rapid levels.  They want more "civilization" than they currently have, and barring wars or natural disasters, they will build it.  If crypto-currency reaches some of these places before infrastructure like good roads and public transportation, then "spirit money" -- aka virtual money -- makes sense.  

Not that I like and/or trust this group of "wealthy technocrats" myself. But the idea of this being a possible benefit to residents of developing nations isn't all that "out there".

by: Life During Wartime

Oops.  I meant to say "they are not NOT families of illegal migrants".  

by: Ebay Little Shop of Horrors

Life During Wartime, where, exactly, is this rural county you speak of?

by: Ebay Little Shop of Horrors

You're a billionaire and certain things are expected of you. You vacation in the same spots at the same time of year. You have art and wine. You hate wine. Art bores you. You dont eat seafood. You prefer McDonalds.

You use the same contractors, interior designers, shopping assistants, chefs, because its expected. You'd rather buy your clothes at JC Penny.

What billionaire does not have their hands in crypto? That would really get you ostracized. They probably dont understand it either, but its mandatory.

by: mcposty

If I was libra, id deny ebays aplication. I would not want that mess of a reputation tied to it