CRYPTOCURRENCY – BRINGING BALANCE BACK TO THE WORLD?

[NotMyProblemParticipant 965]

Imagine a world with a digital decentralized currency, that no authority figure can control.

I’m sure many of you have heard of Bitcoin. F~~~ a Bitcoin. This is imaginary time.

Ok now imagine this currency is perfect in every way. The supply is limited like gold. Near instant transactions at a low cost.

Now imagine this currency is transparent enough so that anyone on Earth can verify everything about it, but it also gives enough wiggle room for complete anonymity. Swiss banking on steroids.

Now think of the implications:

-Government being constrained. Can no longer create a trillion currency units and then hand them out to every feminist, transgender, immigrant and welfare system player. This will make large-scale wars and wealth redistribution impossible.

-Since this currency would be limited in supply in some way, prices would go down over time, not up as they currently do…

-This currency would be based heavily on math and logic, so 95% of the early adopters would be male.

-The government would slowly lose it’s ability to tax commerce, and things like freezing your bank account or seizing half your liquid assets suddenly becomes impossible without your permission. Full control over your funds…

See where I’m going with this guys? F~~~ Bitcoin. I honestly do not know enough to tell you if that’s the answer.

All I have is this dream, that humanity can be freed from the shackles of debt-servitude. If/When Bitcoin gets corrupted, there are some very intelligent cypher-punks out there, and they will just create the next iteration, improving on it’s design until everything is tight.

The reason I bring this up, is because I’m considering making this my life’s work. There is nothing that will have a bigger positive effect on humanity, then putting the world back on a gold standard, or even better… a digital gold standard.

Thoughts from the tech crowd please…

Not my property... Not my problem

[VeniversumParticipant 492]

Hear hear!

[Anonymous 5]

NotMyProblem wrote:

All I have is this dream, that humanity can be freed from the shackles of debt-servitude.

The founding fathers of the United States had that dream too,,,,they hated Usery with a passion.
The system of Usery which we’re all now under was banned many times in many places throughout history.
Franklin and Jefferson were acutely aware of the evil of usery whereby central banking systems controlled by private enterprise own all money and charges interest for its mere existence. They went to great lengths to abolish it.

[NotMyProblemParticipant 965]

People do not like bitcoin because they say it is not equitable. 75% of the bitcoins have already been mined and are owned. A small group of mathematical wizards own 1000’s of these.

Well guess what… life is not equitable. Thats some femnazi s~~~. The fact of life is that some people are just smarter than others. I’d rather see a currency that puts the lions share of value into the most logical Men’s hands.

It’s still early days so if Bitcoin becomes the supreme universal currency over the next few decades, each Bitcoin would be worth many millions of USD. Right now it’s minuscule as a currency, but has still overtaken 30 of the worst fiat currencies.

This is not a big deal for first-world countries. This will bring 5 billion unbanked people into the world. People in Africa have cells phones but no banks. Now all of a sudden they will be connected to global finance.

A successful cryptocurrency has the potential to soak up trillions of dollars worth of value. It’s f~~~ing money. If you’re not looking into this s~~~ I think your f~~~ing crazy.

Not my property... Not my problem

[Bob BashboshParticipant 160]

I LOVE that idea.. currency that actually performs the function it was designed to fulfil. We need an MGTOW commune complete with solar power and performance server architecture. A seamless, incorruptible means of exchange.

[Bob BashboshParticipant 160]

NotMyProblem wrote:

People do not like bitcoin because they say it is not equitable. 75% of the bitcoins have already been mined and are owned. A small group of mathematical wizards own 1000’s of these.

Well guess what… life is not equitable. Thats some femnazi s~~~. The fact of life is that some people are just smarter than others. I’d rather see a currency that puts the lions share of value into the most logical Men’s hands..

I disagree Sovereign, in a Hayakian free market model, your sentiments would have weight but we don’t subscribe to Hayak, we subscribe to Keynes, willingly or not. So long as you allow legislative bodies to impose economic restrictions, so do you passively endorse subjugation through economic segregation.

Bitcoin IS a ponzi and, I suspect, I state sponsored ponzi at that.

[NotMyProblemParticipant 965]

If anyone is interested, check out this video. https://www.youtube.com/watch?v=xUNGFZDO8mM

It’s a Bitcoin expert, Andreas Antonopolous educating the Senate of Canada about cryptocurrency and it’s implications.

Fascinating s~~~.

Not my property... Not my problem

[MendokusaiParticipant 256]

China is buying up US debt like crazy,the Western banking system based on futures & speculation is doomed to failure. Add to that the destabilizing effects of climate change and the Middle East running out of oil the way they are pumping it out and you have a situation that not even BitCoin can solve. However,after WW111 the survivors will return to a barter based economy and focus on green energy to try and save whats left of this dying rock.

[NotMyProblemParticipant 965]

The code is open source. Math speaks for itself.

Now the question is can it be taken control of by a government? If they could do that, then they can then force a fork in the code, maybe one that could increase the bitcoin supply. But anyone can run a full node themselves and have the full ledger at their disposal. You would see the increase and it would be all over reddit in minutes.

The Bitcoin white paper is out there on the Internet, so anyone can read the math behind it. If bitcoin is corrupted, some freedom loving math genius will just alter the algorithms a little bit to make it more resilient.

Not my property... Not my problem

[NotMyProblemParticipant 965]

China is also buying the majority of the Bitcoins.

US is f~~~ed, China has all the gold and the bitcoins lol…

Not my property... Not my problem

[Crazy CanuckMember 4215]

Mendokusai wrote:

China is buying up US debt like crazy,the Western banking system based on futures & speculation is doomed to failure. Add to that the destabilizing effects of climate change and the Middle East running out of oil the way they are pumping it out and you have a situation that not even BitCoin can solve. However,after WW111 the survivors will return to a barter based economy and focus on green energy to try and save whats left of this dying rock.

China is buying and mining gold like crazy.

http://www.mining.com/5-reasons-china-is-coming-to-buy-your-gold-mine-98811/

http://investingnews.com/daily/resource-investing/us-dollar-gold-goodman-currency-russia/

"If pussy was a stock it would be plummeting right now because you've flooded the market with it. You're giving it away too easy." - Dave Chapelle

[VeniversumParticipant 492]

I hate to break it to you guys, but countries are fiction. They are an ideology created by the ruling class to harness loyalty. That concept is called “Nationalism”. The world central banking cartel collaborates, and controls all governments, because it controls all money supplies. You can say “China loaned” such and such, but the central bank that prints China’s currency is actually who did the “loaning”. The ruling class are in on all of it together through the stock market. The rest is just theater. Furthermore, printing money is not a loan. There is no legitimacy to any of it. The fact that people still think there is, is proof that we aren’t making enough progress, with enough speed. Look at what happened to the populist government of Greece; they had to do what they were told by the central banks, or they were going to lose their economy. The ruling class needs you to believe in countries so that they can justify the mass murder and depopulation of their excess working class, in order to save the financial systems. That process is known as war. If you don’t know who Thomas Malthus is, you should read “Essay on the Principle of Population”, and then you will get some idea. In WWII, Stalin did his part by creating a famine in his own country, and an execution squad at the back of enemy lines to murder anyone who fled. Hitler did his part by killing not only Jews, but basically anyone who was impoverished, in addition to the ones killed in just all out war. Japan convinced their own to commit suicide by shackling their hands to the airplanes “Kamikaze” and agreed to allow two bombs dropped in the industrial cities that they had the least to lose from. Chairman Mao murdered the most of it’s own people. Money isn’t going to be fixed. As long as it exists, the people who control the better technology for weapons will control it, as they always have. Unless you have superior weapons technology to change that, you can hang it up.

[FrankOneParticipant 1417]

I agree with it, but the government will just ban it.

Indeed, it occurred even in the US when dictator-in-chief FDR imposed Executive Order 6102 seizing the gold of the citizenry so he could produce more currency (back in those ancient times, currency actually was BACKED by gold): https://en.wikipedia.org/wiki/Executive_Order_6102

The cryptocurrency could be confiscated under duress, and the users thrown in prison.

It is easy for government to prevent the underground or grey economy as far as, say, paying employees in large corporations which are easily regulated, but much harder to, say, collect sales taxes from individuals selling items or doing work such as mowing lawns, yardwork, etc for cash.

The ‘non-workers’ of the world have united, and they want a piece of the ‘action’. That ‘piece’ is the taxes you pay — sales tax, property tax, income tax.

[VeniversumParticipant 492]

FrankOne wrote:

I agree with it, but the government will just ban it.

Precisely..with weapons. Just like I said. The only thing that could possibly change things now is for 3 human behaviors to cease:

1. Stop using money. (Never going to happen. The only thing people think about is themselves, and how they would like to be rich, with no consideration as to whose expense it is.. i.e. the people who make the products.)
2. Refuse to enforce unjust laws. (This requires people to actually know and understand the true functions of legislation, as opposed to the stated functions. Psychopaths and sadists will always be willing to join the police force just for the excuse to get the thrill of harming someone and don’t care what the law is.)
3. Refuse to go to war. (Until people realize that the real reason the ruling class is creating world wars is to slaughter their own in mass, people will take up arms and do whatever they are told to do.)

The solution is simple. If everyone did these 3 things starting tomorrow, the world could change for the better. However, they aren’t going to. It’s going to take centuries. It is doubtful that any of you will see any good changes within our lifetime. People will only think of themselves, and what they have to gain and as long as that type of thinking persists, forget it.

[NotMyProblemParticipant 965]

A lot of people say the government can ban Bitcoin. Or confiscate it. Follow that thought through to it’s logical conclusion though…

My bitcoin are anonymous, and they are off the Internet in cold storage. You guys realize you don’t need to provide an identity to use hold these right? Surely the government knows I’m a bitcoin fan by now but….

Do they know which wallets I have control over? No. Do they know how many I have? No. I have what’s called a brain wallet. The keys to spend my bitcoin exist within my memory. Good luck with that…

Someone please enlighten me, how does the government ban bitcoin?

Let’s pretend they did. All bitcoin miners in the US are now operating illegal. Let’s say they launch some drone strikes on bitcoin miners….

Guess what, the information will just flow around the damage…

And furthermore, it’s possible to mine bitcoin anonymously, using TOR. Making it illegal will just send it underground.

I can hide a bitcoin transaction in an image file, or a song. It’s just information guys…

Also, if government destroyed/made it difficult for the miners, many would stop mining. The more miners fall off, the more profitable it is to mine, and the difficulty goes way down. This would create a HUGE MONETARY INCENTIVE to start mining. It’s a self-balancing network.

Keep in mind, anytime the government makes something illegal, it always explodes in popularity/price…

Not my property... Not my problem

[NotMyProblemParticipant 965]

Veniversum wrote:

1. Stop using money. (Never going to happen. The only thing people think about is themselves, and how they would like to be rich, with no consideration as to whose expense it is.. i.e. the people who make the products.)

I don’t mean to pick on you Veniversum, I just want you to see the other side of this situation. Put yourself in the position of the guy who runs the factory. Let’s call him the capitalist.

The capitalist spends 5-10 years working 2-3 jobs to save up some capital. Then he decides to start a business venture. He has to do all the research himself. Looking into the laws, regulations, and he needs to know everything about the business he’s getting into. He learns all of this for free, meaning he does not get paid.

Then after burning all that time learning how to possibly start a business that may or may not take off, he invests his own time and money to start said business. Capitalist gets to work his b~~~~ off for 3-5 years for free while starting this business. At this time, there is a good possibility he will lose everything if his venture fails. Imagine doing all that and it not working out. There goes 10 years of your life. Starting a business is a huge undertaking and it involves some serious risk.

What I’m saying is that the capitalist works way harder than the worker he employs. And takes bigger risks. The reward is that maybe he will be able to sit back and collect big profits at the end. Does that mean he is exploiting the worker? No it just means he worked harder, longer hours to provide society with some sort of good or service.

Now imagine if you took away this incentive. No person in their right mind is going to work their b~~~~ off for 10 years, for free, just so that they can share it all with lazy people. If you think it’s so easy to go start a business and make a bunch of money, go try it some time. Until you put yourself in the Capitalist’s shoes, you have no idea what it’s like.

Now imagine if all the Capitalists stopped taking these huge risks and stopped starting businesses. Now you dont have a job. When your sitting in a ditch somewhere, starving… Then you may just wish someone would “exploit you” by offering you a job. Remember, no one is forcing you to work. If the best you can do is minimum wage, maybe you should go learn some skills that are valuable to society.

No one is ever going to work their b~~~~ off, and then say here ya go Veniversum, take my wealth. Just sit there and relax. I got this..

Not my property... Not my problem

[VeniversumParticipant 492]

I would love to believe you Sovereign, but there is a problem with Bitcoin. It still requires fiat currencies in order to purchase it. Likewise, spending it requires the same. If governments simply shut down the possibility to change bitcoin to fiat currency and vice versa, it’s over. It doesn’t take drone strikes to do that. It only takes willing government zealots, which government has an endless supply of because they pay people well.

[NotMyProblemParticipant 965]

If we lived in a communist world without money, I would just sit back and relax.

I’d let Veniversum go to work and then take care of me. Send me some money Veniversum.

Don’t be selfish now. Don’t do whats in your best interests. Being rich is bad.

Will you take care of me?

Lol just busting your b~~~~ man. My point is that if you think sharing is such a great thing, prove it by sending me some money.

Not my property... Not my problem

[NotMyProblemParticipant 965]

Yea like I said, who knows if Bitcoin is the answer.

All I’m saying is that given the choice, I’d rather use a commodity money instead of a fiat currency.

There will always be some government somewhere that’s friendly to Bitcoin. The exchanges will go wherever they are treated best.

Or they will go underground. Most of the coins are already out there. The holders of the bitcoin can spend these.

Go offer a good or service and accept bitcoin as payment. Boom no need for exchange.

I’m looking for solutions. I’m not going to just give up and submit to the banking cartels. F~~~ that.

Not my property... Not my problem

[VeniversumParticipant 492]

We live in a communist world. Look up the 10 planks of communism. Also communism and socialism are essentially the same, even according to Karl Marx, except for the manner by which they are achieved. Plank number 5 of the 10 planks is a central bank. Sir your beliefs about capitalism is all false, and have been furnished to you by the ruling class in order to perpetuate the lie by appealing to your sense of greed. Read my other post; technology is simply going to eliminate the need for people to work, or acquire things from your business. Selling clothes? No thanks, I’ll print my own. Selling objects? No thanks, I’ll print my own. Selling food? No thanks, I have aquaponic fish gardens in my house. Technology is going to make people independent, which will make businesses obsolete.

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