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Flight Risk by tarazkp

View this thread on: hive.blogpeakd.comecency.com
· @tarazkp ·
$29.79
Flight Risk
<div class="text-justify">

I was reading an article about how much money is pouring out of China, as the rich keep abandoning the country as the government keeps reaching further into their pockets and businesses. This has only been exacerbated by the implosion of the housing industry in the country, where gross mismanagement by the government has devalued a lot of the wealth that individuals held. It is an exodus that over the last handful of years has seen trillions pour out of China, despite there being very strict controls in place.

>Where there's wealth, there's a way. 


![image.png](https://files.peakd.com/file/peakd-hive/tarazkp/241QZgCbQSr21op6EP7Wt8ew7vfs2GW51GiiuLKygXNtf7CUxt4RyQgdp4o3ENS63jmZu.png)

It is a pretty good case study of human behavior, where we will look to protect what we perceive as our own. And of course the irony is, that while we might feel the wealth we have is our own, it really is not. This is pretty obvious to most of us here in crypto, but it should be incredibly obvious to those who live in a communist regime. However, as I have mentioned for the last thirty years or so, China isn't really a communist country, it is a capitalistic monopoly. 

>**monopoly**
/mə-nŏp′ə-lē/
noun
Exclusive control by one group of the means of producing or selling a commodity or service.
A company, group, or individual having exclusive control over a commercial activity.
A commodity or service so controlled.

The definition of capitalism really needs to change, because the division between private and state has also changed over time, blurring the lines significantly. This means that private has moved into government functions, and governments have moved into the wealth generation business above and beyond the good of their people. Much like any *corporation.* 

> Government Inc.

Never forget that government is about making a profit, generating wealth, though the organization might not care that much about money itself, as their currency is overall control, with currency just being one of the tools at their disposal. We are slaves to currency, not just because we want more of it in our pockets, but because in order to participate in the modern world, it is required for trade with others, making it a control mechanism  for those who *actually own.*

> Own money might be an oxymoron.

Money is a concept, which makes ownership of it impossible. There is nothing actually underpinning the value of it other than it being mutually agreed as a form for marking a trade. So, when a person is taking their wealth out of a country, what does that actually mean? Just another form of trade, isn't it? One currency owned by one government, for different currency owned by another government. Sure, the political climate and conditions might alter, but their wealth is no more their own than it was earlier. 

For the last few hundred years at least, centralized money systems have been employed in order to facilitate trade, and keep those with power, in power. It has been a highly effective strategy for the most part, because it is compelling to participate in the system, because it is far easier to manage our affairs with other people, when we are able to trade in tokens, rather than one for one. It is *convenient* and that makes it attractive, even if there are downsides to it. Similar to eating fast food, it might make life easier at the time it is consumed, but over time, the negatives creep in. 

Ownership might be valuable, but it isn't actually convenient. For instance, owning an investment property can attract wealth, but the owner is responsible for maintenance also, even though not living there. There are costs involved, contractors to pay, repairs, wear and tear. There might be profit left over, but there are risks to hold also. Similarly, owning a car is also an issue, as while it isn't an appreciating asset normally so has depreciation costs, there are also the maintenance and fueling costs also.

> There is a cost to owning currency also.

*It is very inconvenient.*

Again, people in crypto know this, as compared to the centralized currencies that are facilitated by the banks as a middleman and influencer who skim heavily off the top to increase their own power, it is difficult to use. Sure, it has got far, far easier to use daily than it was a decade ago, but that is because it is leveraging the banks and government structures again. If it required staying completely independent of them, it would be very difficult again. But, the easier it gets...

The bigger flight risk we become.

Taraz
[ Gen1: Hive ]


</div>
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properties (23)
authortarazkp
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vote details (391)
@bozz ·
$0.24
I think is what a lot of people were worried about when the big players started finally embracing crypto.  It's not going to be what people hoped it would be anymore.  At least some of the tokens are probably going to be just as regulated as the traditional currencies out there.  
👍  
properties (23)
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vote details (1)
@tarazkp ·
They are already in - but the thing with crypto will eventually be, that the technology will be easy enough that forking away from terrible governance will be relatively simple. Not necessarily convenient though. 
👍  
properties (23)
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vote details (1)
@bozz ·
Yeah, that is a good point. I have already seen it happen several times I guess.
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@weone ·
Blackrock had started investing already...
👍  
👎  ,
properties (23)
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vote details (3)
@tarazkp ·
They have been dribbling in for a while
properties (22)
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@bpcvoter3 ·
https://peakd.com/@buildawhale/wallet 


>An unstake (power down) is scheduled to happen in 24 hours (~4,504.659 HIVE, remaining 12 weeks)


> Received: 2,313,498 HP
@blocktrades	2,313,441 HP	Aug 16, 2020
@nwjordan	24 HP	May 27, 2018
@gillianlienmap	23 HP	Aug 18, 2020
@epicgames	6 HP	Jul 2, 2019
@drax	5 HP	Sep 1, 2024


Withdraw vesting from @buildawhale to @ipromote4502.341 HIVE
6 days ago
Started power down58,560.565 HP
(99793944.302947 VESTS)
13 days ago
Withdraw vesting from @buildawhale to @ipromote7318.996 HIVE
16 days ago
Withdraw vesting from @buildawhale to @ipromote7314.448 HIVE
23 days ago
Withdraw vesting from @buildawhale to @ipromote7309.809 HIVE
Sep 7, 2024
Withdraw vesting from @buildawhale to @ipromote7305.210 HIVE
Aug 31, 2024
Withdraw vesting from @buildawhale to @ipromote7300.676 HIVE
Aug 24, 2024
Withdraw vesting from @buildawhale to @ipromote7296.088 HIVE
Aug 17, 2024
Withdraw vesting from @buildawhale to @ipromote7291.498 HIVE
Aug 10, 2024
Withdraw vesting from @buildawhale to @ipromote7286.901 HIVE
Aug 3, 2024
Withdraw vesting from @buildawhale to @ipromote7282.522 HIVE
Jul 27, 2024
Withdraw vesting from @buildawhale to @ipromote7278.123 HIVE
Jul 20, 2024
Withdraw vesting from @buildawhale to @ipromote7273.654 HIVE
Jul 13, 2024
Withdraw vesting from @buildawhale to @ipromote7269.056 HIVE
Jul 6, 2024
Withdraw vesting from @buildawhale to @ipromote7264.567 HIVE
Jun 29, 2024
Started power down95,278.448 HP
(162365443.299664 VESTS)
Jun 22, 2024
Stopped power down0 HP
(0.000000 VESTS)
Jun 5, 2024
Withdraw vesting from @buildawhale to @ipromote14633.721 HIVE
Jun 3, 2024
Withdraw vesting from @buildawhale to @ipromote14625.415 HIVE
May 27, 2024
Withdraw vesting from @buildawhale to @ipromote14617.135 HIVE
May 20, 2024
Withdraw vesting from @buildawhale to @ipromote14608.857 HIVE
May 13, 2024
Withdraw vesting from @buildawhale to @ipromote14600.599 HIVE
May 6, 2024
Withdraw vesting from @buildawhale to @ipromote14592.337 HIVE
Apr 29, 2024
Withdraw vesting from @buildawhale to @ipromote14584.183 HIVE
Apr 22, 2024
Withdraw vesting from @buildawhale to @ipromote14575.955 HIVE
Apr 15, 2024
Withdraw vesting from @buildawhale to @ipromote14568.048 HIVE
Apr 8, 2024
Withdraw vesting from @buildawhale to @ipromote14560.143 HIVE
Apr 1, 2024
Started power down192,345.916 HP
(327779581.808452 VESTS)
Mar 25, 2024
Stopped power down0 HP
(0.000000 VESTS)
Mar 18, 2024
Withdraw vesting from @buildawhale to @ipromote16041.485 HIVE
Mar 18, 2024
Withdraw vesting from @buildawhale to @ipromote16032.945 HIVE
Mar 11, 2024
Started power down212,156.692 HP
(361539424.824836 VESTS)
Mar 4, 2024
Stopped power down0 HP
(0.000000 VESTS)
Feb 28, 2024
Started power down209,841.631 HP
(357594293.715841 VESTS)
Feb 28, 2024
Stopped power down0 HP
(0.000000 VESTS)
Dec 5, 2023
Withdraw vesting from @buildawhale to @ipromote13463.479 HIVE
Dec 5, 2023


https://peakd.com/@ipromote/wallet


	
Sent to alpha-4,317.000 HIVE
3 days ago
Sent to beeswap.fees-1,828.540 HIVE
3 days ago
Sent to alpha-4,461.000 HIVE
10 days ago
Sent to hiveswap-20,000.000 HIVE
12 days ago
hive-engine
Sent to alpha-4,573.000 HIVE
17 days ago
Sent to hiveswap-5,000.000 HIVE
17 days ago
hive-engine
Sent to alpha-5,008.000 HIVE
24 days ago
Sent to alpha-4,473.000 HIVE
Sep 6, 2024
Sent to themarkymark-1,000.000 HIVE
Sep 2, 2024
Sent to themarkymark-2,000.000 HIVE
Sep 2, 2024
Sent to themarkymark-2,000.000 HIVE
Sep 1, 2024
Sent to themarkymark-100.000 HIVE
Sep 1, 2024
Sent to alpha-4,560.000 HIVE
Aug 29, 2024
Sent to themarkymark-1,000.000 HIVE
Aug 27, 2024
Sent to themarkymark-1,000.000 HIVE
Aug 27, 2024
Sent to themarkymark-1,000.000 HIVE
Aug 27, 2024
Sent to themarkymark-1,000.000 HIVE
Aug 27, 2024
Sent to themarkymark-1,000.000 HIVE
Aug 27, 2024
Sent to themarkymark-1,000.000 HIVE
Aug 22, 2024
Sent to themarkymark-1,000.000 HIVE
Aug 22, 2024
Sent to themarkymark-1,000.000 HIVE
Aug 22, 2024
Sent to alpha-4,453.000 HIVE
Aug 22, 2024
Sent to themarkymark-1,000.000 HIVE
Aug 21, 2024
Sent to alpha-5,123.000 HIVE
Aug 15, 2024
Sent to alpha-4,367.000 HIVE
Aug 7, 2024
Sent to themarkymark-2,000.000 HIVE
Aug 3, 2024
Sent to themarkymark-2,000.000 HIVE
Aug 3, 2024
Sent to themarkymark-2,000.000 HIVE
Aug 1, 2024
Sent to alpha-5,141.000 HIVE
Jul 31, 2024
Sent to alpha-4,545.000 HIVE
Jul 24, 2024
Sent to themarkymark-1,000.000 HIVE
Jul 22, 2024
Sent to hiveswap-10,000.000 HIVE
Jul 21, 2024
hive-engine
Sent to hiveswap-10,000.000 HIVE
Jul 17, 2024
hive-engine
Sent to alpha-4,710.000 HIVE
Jul 17, 2024
Sent to hiveswap-10,000.000 HIVE
Jul 14, 2024
hive-engine
Sent to alpha-5,176.000 HIVE
Jul 9, 2024
Sent to themarkymark-1,000.000 HIVE
Jul 3, 2024
Sent to themarkymark-1,000.000 HIVE
Jul 3, 2024



https://peakd.com/@alpha/wallet

	
Sent to itzchemaya-15,000.000 HIVE
15 days ago
donation
Sent to hivefest24-3,518.000 HIVE
Sep 2, 2024
alpha - ithildin - y2guealsj70cw5rkrrbbph
Sent to hivefest24-3,546.000 HIVE
Sep 2, 2024
blocktrades - ithildin - e9e3qh1kl1uecne2am6tzv
Sent to valueplan-141,243.000 HIVE
Aug 29, 2024
Loan of Hive to valueplan
Sent to nahupuku-2,232.000 HIVE
Jul 27, 2024
donation

https://peakd.com/@punkteam/wallet



	
Sent to gogreenbuddy-0.172 HBD
Jan 20, 2024
Sent to gogreenbuddy-327.485 HIVE
Jan 20, 2024
Sent to gogreenbuddy-248.912 HIVE
Jan 9, 2024
Sent to gogreenbuddy-248.772 HIVE
Dec 28, 2023
Sent to gogreenbuddy-3.155 HBD
Dec 26, 2023
Sent to gogreenbuddy-497.127 HIVE
Dec 26, 2023
Sent to gogreenbuddy-248.356 HIVE
Dec 9, 2023
Sent to gogreenbuddy-248.217 HIVE
Dec 1, 2023
Sent to gogreenbuddy-3.851 HBD
Nov 17, 2023
Sent to gogreenbuddy-118.354 HIVE
Nov 17, 2023
Sent to gogreenbuddy-118.288 HIVE
Nov 14, 2023
Sent to gogreenbuddy-118.221 HIVE
Nov 2, 2023



https://peakd.com/@usainvote/wallet


Received: 567,425 HP
@blocktrades	567,410 HP	Aug 16, 2020
@windkc	15 HP	Jan 4, 2023





!LOL !DOOK

#BUILDAWHALEFARM 







8888777

Posted using [Bilpcoin](https://www.bilpcoin.com/@bpcvoter3/skzoy6)



LOOOOOLOLLLOOO
properties (22)
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@ducecrypto ·
$0.20
> Governments have moved into the wealth generation business above and beyond the good of their people.

Useless public servants. They only serve themselves at our expense.

> Centralized currencies that are facilitated by the banks as a middleman and influencer who skim heavily off the top

Only using my centralized currency to get more assets into Hive! Slow and steady wins the race...
👍  
properties (23)
authorducecrypto
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vote details (1)
@tarazkp ·
They only serve themselves at our expense.

And the corporations they facilitate of course. 
👍  
properties (23)
authortarazkp
permlinkre-ducecrypto-sl31en
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vote details (1)
@mightyrocklee ·
$0.20
As Left Party started to propose laws to tax the rich more, around 20% of the UK millionaires moved out from UK. People will do anything to keep their income steady.
👍  
properties (23)
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vote details (1)
@tarazkp ·
$0.03
>People will do anything to keep their income steady.

There is also a growing sense of government mismanagement and the increased ability to move wealth. It is more liquid these days.
👍  
properties (23)
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vote details (1)
@mightyrocklee · (edited)
And this is offending a lot of people in the traditional finance. I laugh when I see how offended they are that you can do what you want with your money instead of letting them 'teach' you what to do. At least in UK.
properties (22)
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@seattlea ·
$0.24
HIVE is harder to use then many crypto in US. There are no direct on-ramps in order to buy it we have to buy ETH or BTC or LTC on Coinbase then transfer it into Metamask then to Hiveengine then trade it into HIVE. 

Curious where does most of the Chinese capital is pouring out to?    
👍  
properties (23)
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vote details (1)
@mattclarke ·
Running a witness node would be a good way to move your local currency into crypto. Pay all of your expenses in fiat, and take all of your rewards in crypto. I can see that being a big drawcard for Splinterlands nodes. 
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@mattclarke ·
This probably motivates a lot of bitcoin mining. 
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@tarazkp ·
>Curious where does most of the Chinese capital is pouring out to?

Wherever they can invest. I read Singapore, Japan, UAE
properties (22)
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@videoaddiction ·
$0.24
I think that people's wealth at today's financial instutions might not be their wealth one day. Some goverment or dictator seize. We have also seen a kind of tax such as wealth tax.
👍  
properties (23)
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vote details (1)
@tarazkp ·
I reckon in many places, the "seize" is coming and since all the banks are connected through their investments and debt trading, it is going to have a ripple effect
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@weone ·
It all depends in the trade offs...
👍  
👎  ,
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vote details (3)
@tarazkp ·
Many are willing to trade even their largest freedom, for a little bit more convenience. 
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