Bitcoin/Cryptocurrency

[confusedseeker]

Wanted to see if there was anyone on this board who was into this stuff. I think there is obvious utility, but the blockchain is public and can be tracked as well, so there is a downside. We definitely need a different economic system, and blockchain might help in that creation.

[AnthroHeart]

There is being worked on a Quantum Financial System. And something called SWIFT.
They are supposed to give unlimited funding for all.

[Ashim]

Wanted to see if there was anyone on this board who was into this stuff. I think there is obvious utility, but the blockchain is public and can be tracked as well, so there is a downside. We definitely need a different economic system, and blockchain might help in that creation.

Bitcoin is it. The tools we require to free ourselves from the bankers ponzi scheme are available. I do however seriously doubt that other crypto has any value whatsoever. Their current perceived value is simply a reflection of and bubbles within Bitcoin.
You might be aware of a document called “Silent Weapons for Quiet Wars”, if not I highly recommend its study in order to better understand the nature of money and its place in the energy sciences.

[confusedseeker]

Wanted to see if there was anyone on this board who was into this stuff.  I think there is obvious utility, but the blockchain is public and can be tracked as well, so there is a downside.  We definitely need a different economic system, and blockchain might help in that creation.

Bitcoin is it. The tools we require to free ourselves from the bankers ponzi scheme are available. I do however seriously doubt that other crypto has any value whatsoever. Their current perceived value is simply a reflection of and bubbles within Bitcoin.
You might be aware of a document called “Silent Weapons for Quiet Wars”, if not I highly recommend its study in order to better understand the nature of money and its place in the energy sciences.

Good to see someone on the same page. With government expanding now and freedom dwindling, the value of something like bitcoin becomes huge across the globe. The dollar will become weak now, economy will likely sink, and some big companies are starting to see bitcoin as a life raft. For me, it comes back to Free Will.

[jafar]

Blockchain is a technology that realize a thing called "Distributed / Shared Ledger".
https://www.dummies.com/personal-finance...s-it-work/

Among the application of this "Shared Ledger" is cryptocurrency.
Among cryptocurrencies there's bitcoin.
Just like among government backed currencies in the world, there's Yen.

Just like many of today's government backed currencies, The value of Bitcoin and other cryptocurrencies are not backed / pegged by anything towards anything else. Thus it's a form of 'fiat money'.

Now the difference between 'government backed currencies' and 'shared ledger currencies' is how the new unit of currency is being issued.

Government backed currencies are being issued by a 'body'.
In U.K, China or Japan it's issued by a 'central bank' which is part of the government. In U.S it's issued by a 'body of private bankers' which refused to be a part of the government called "Federal Reserve". So things are uniquely different in US and it's currency US Dollar.

That also explain why in the time of "Banking crisis", such as in 2008, the "Body Of Private Bankers" prioritize the interest of private bankers above others and strive to save the private banks by issuing a gigantic load of new currencies (US Dollar) to the private banks. It's easier for private banks to 'get' new unit of currencies compared to non-private banks such as merchants, workers or other stakeholder of the economy.

In 'shared ledger currencies' there is no 'centralized body', the issuance of new unit of currency is performed by a process.
The process of validating a transaction.
This process is commonly known as 'mining'.

Those who performed the 'work' of validating a transaction are called 'miners'.
Anyone can be a 'miner', those who are interested to become one need to make an investment in terms of computing resources and network connectivity resources. In return they will be given new unit of currency for every validated transaction.
https://www.buybitcoinworldwide.com/mining/

Thus in the time of 'crisis' there's no centralized body that can issue gigantic load of new unit of currency, it all governed by a process of validating the transaction. When for example there's no transaction happening in that currency, then there will be no new unit of currency being issued. And when there's no 'miner' to validate a transaction then that currency is basically become unusable for transaction.

Is it good or bad? It truly depend on one's perspective.

Cryptocurrency also have a dependency to network connectivity, connecting the performing parties of a transaction with parties who are validating the transaction (miner). Thus cryptocurrency will become useless with absent of network connectivity.
The 'government backed currencies' does not have this dependency, they can issue their currency in a form of paper. And this paper can be exchanged physically by parties who performed the transaction. We call this type of transaction as "Cash" transaction.

So it's *not* exactly a 'new economic system' but it's a 'new currency system' that is beyond the control of government bodies or 'group of private bankers'.

The technology, called blockchain, is not only usable for 'digital currencies'.
It has other use-cases as well... for example to track the flow of items / goods flowing between different parties, a supply chain use-case. And it does help to provide better trust and transparency to the entire process.
I have helped companies for this use-case.

https://101blockchains.com/practical-blo...use-cases/

[confusedseeker]

Bitcoin rocketed today, breaking new all time highs

[jafar]

Bitcoin rocketed today, breaking new all time highs

And might plummeted again in the future..

But in both events (rise and fall of it's relative value to other currencies / commodities) there is no real tangible value / benefits that's being given to the society as a whole.

[outsider]

The centralization of power ("elite") has dominated humanity for thousands of years. Blockchain systems aiming to create a root of trust through decentralized networks of independent, collaborative actors are a natural response to it. Blockchain's arrival is perfectly timed with the incoming energies and the growing desires among the incarnate for freedom, independence, and a sustainability.

[flofrog]

Thank you jafar for that very educative piece, I knew nothing about Bitcoin.

I have two friends who invested in it a long time ago. Then recently they both realized they had lost their password and now their investment has sort of poetically disappeared like in a black hole,

[Patrick]

I think the concept of blockchains may play an important role in a next generation societal system.  But please, not an implementation that wastes so much electricity and computing power as seen in many current implementations. 

[AnthroHeart]

Look up Quantum Financial System. I think that's going to be replacing blockchain.
Or might just be an evolution of it.

[jafar]

Blockchain is a mechanism, that enable "trusted digital shared ledger".
One of blockchain's implementation is for payment through digital currency, there are many other use-cases.

Looking at description of this "Quantum Financial System" it's more of competitor for "SWIFT".
https://www.swift.com/
And it uses blockchain to to enable 'shared ledger', having said that "SWIFT" is also currently transforming their system and operating model to enable 'shared ledger' between participating intermediary parties, which shall improves transparency.

Like I mentioned above non-government / centralized authority controlled digital currencies, like bitcoin, ethereum and others can be both good and bad, depending on the perception.

Volatile movement of bitcoin for example, it can be 'bad for businesses'.
(Although good for 'investor' a.k.a currency trader/speculator/gambler)
It will make long term investment very hard to plan as the value of the currency moves in volatile manner.

A much simplified example:
Imagine planning to grab a BigMac by carrying 1 BTC only to find out that the BigMac price has changed to 1.5 BTC once you arrived at McDonald. You returned home to carry 2 BTC and now the BigMac price has gone up again to 3 BTC.

When government backed currency moves up and down in volatile manner, the central bank will usually either distribute more (when it goes up) or pull from circulation (when it goes down) in order to make the value relatively stable.

Such 'action' is impossible to do on Bitcoin or Ethereum since nobody have the central authority to issue more or de-issue / pull out the circulated digital currency.

Mind you that US Dollar is a bit different, it's not 'federal government backed currencies', the circulation of US Dollar is controlled by the Federal Reserve, and Federal Reserve is a union of private bankers. Which of course put the interest of 'private bankers' as it's top priority. Federal Government of USA (ie Presidential office) doesn't have control over US Dollar currency circulation.

Truly government controlled currency is for example Chinese RMB.
That's why the Chinese government has full control over it's valuation.
Which Federal Government doesn't have over US Dollars.

All bank in China (PROC that is, excluding Taiwan and Hong Kong) are 100% government owned.
Unlike private Bank in the US, they do not operate to make or seek 'profit' in Chinese RMB, they operate to circulate RMB as fast as possible and as wide as possible.
That's why they can 'engineer' the value of their currency, to make it at 'certain level' thus their economy can remain competitive. They do that as the goal of Chinese government is to create as many employment opportunities as possible for their citizen.

This is the background on why some people in the US are accusing China of doing 'currency manipulation'.
Which is true, China does currency valuation engineering, it's because they can and they have full control over it as all banks are government bank and operate by not seeking profit in currency. In which US government cannot do.
Currency manipulation is not a bad thing or a crime.

[AnthroHeart]

Where does NESARA/GESARA come in then?

[jafar]

There are a lot of thinking / movement about:
- Abandoning fiat currency and moved back to gold/resource backed security
- Changing / introducing new 'authority' bodies which govern the issuance / de-issuance of currency.

Which actually not necessarily inline with the background on why some people created digital currency, specifically bitcoin or ethereum.
- Bitcoin is based on 'shared distributed ledger' where blockchain is the enabling technology.
- Shared distributed ledger was invented with avoidance of central authority as goal, that's why the 'validator' (read:miner) are distributed yet shared the same ledger.
- Bitcoin is a 'fiat' money it's value is not pegged / backed by any gold/resource. Pegging the currency to something requires centralized authority in the first place.
- Bitcoin respect participant's privacy, it's not mandatory for wallet/account holder to reveal it's true / legal identity.

There has been an effort of some parties to release digital currency yet with 'centralized authority' in mind, for example Facebook's Libra, which didn't fly nor being widely accepted.

Currency is not a black/white issue as those with political intention try to framed it as such. (My system is good, other systems are evil).
There are pros and cons of each approach as I've highlighted above between No-centralized authority model like Bitcoin and Centralized Authority model like country/government backed currencies.

On personal level, one key takeaway is a realization that currency is not 'wealth' let alone a metric to measure one's well being.

And with the availability of blockchain technology, you can also start your own digital currency if you wish so, with any model that you choose.
If you want to be 'rich in currency' then you can create your own currency.
Whether 'your currency' will be accepted by others is of course a totally different story.

As of January 2021 there are over 5,000 digital currencies...with varying degree of acceptance.

[unity100]

There is being worked on a Quantum Financial System. And something called SWIFT.
They are supposed to give unlimited funding for all.

Nobody is working on something called 'SWIFT'.

SWIFT system exists, and it is how international payments in the world are being handled for decades now. If anyone sends money to his/her granma in another country, it has been going through SWIFT already. Its a transfer system. Has nothing to do with a new economy or a new system.

[confusedseeker]

I think the concept of blockchains may play an important role in a next generation societal system.  But please, not an implementation that wastes so much electricity and computing power as seen in many current implementations. 

I don't see it as a "waste" at all. Decentralization is highly valuable.

[Patrick]

I think the concept of blockchains may play an important role in a next generation societal system.  But please, not an implementation that wastes so much electricity and computing power as seen in many current implementations. 

I don't see it as a "waste" at all. Decentralization is highly valuable.

What I mean is that there are implementations of crypto currencies that have all the qualities including being decentralized without requiring so much useless computational power such as for example Bitcoin requires.

I'm just saying that we should use a version that is not wasteful on resources.

[confusedseeker]

I think the concept of blockchains may play an important role in a next generation societal system.  But please, not an implementation that wastes so much electricity and computing power as seen in many current implementations. 

I don't see it as a "waste" at all.  Decentralization is highly valuable.

What I mean is that there are implementations of crypto currencies that have all the qualities including being decentralized without requiring so much useless computational power such as for example Bitcoin requires.

I'm just saying that we should use a version that is not wasteful on resources.

There actually isn't, as of yet; it can be done, sure, but it's not close yet. Bitcoin is now being mined using mostly renewable energy anyways.

Also, beware of the climate change "Green" movement, it's a scam. It is heavily funded by Rothschilds, specifically.

[Patrick]

What I mean is that there are implementations of crypto currencies that have all the qualities including being decentralized without requiring so much useless computational power such as for example Bitcoin requires.

I'm just saying that we should use a version that is not wasteful on resources.

There actually isn't, as of yet; it can be done, sure, but it's not close yet.  Bitcoin is now being mined using mostly renewable energy anyways.

Also, beware of the climate change "Green" movement, it's a scam.  It is heavily funded by Rothschilds, specifically.

How about an implementation such as this one ?

https://en.wikipedia.org/wiki/Nano_(cryptocurrency)

EDIT: Found this here that seems interesting: https://arxiv.org/abs/1908.01738

[confusedseeker]

What I mean is that there are implementations of crypto currencies that have all the qualities including being decentralized without requiring so much useless computational power such as for example Bitcoin requires.

I'm just saying that we should use a version that is not wasteful on resources.

There actually isn't, as of yet; it can be done, sure, but it's not close yet.  Bitcoin is now being mined using mostly renewable energy anyways.

Also, beware of the climate change "Green" movement, it's a scam.  It is heavily funded by Rothschilds, specifically.

How about an implementation such as this one ?

https://en.wikipedia.org/wiki/Nano_(cryptocurrency)

EDIT: Found this here that seems interesting: https://arxiv.org/abs/1908.01738

I invested in Nano, it's good but the security and decentralization is questionable. Store of value and currency are actually two different things, it took me a while to grasp that. The big issue with bitcoin right now is that Big Tech is getting into it, this will lead to big money controlling a large portion of it...that is NOT good at all. The price will probably explode because of this, but in the long run, I don't like it at all. Big Tech and Big gov't (big pharma too) is all about surveillance and tracking.

[Louisabell]

Well, Tesla admitted to owning a sizeable chunk of their company reserves in Bitcoin. It's now here to stay.

[Patrick]

I know a lot of people will disagree with the following... but I am convinced Elon is a real wanderer who found a way to accomplish their third reason for incarnating.

65.12 Questioner: Then each of the Wanderers here acts as a function of the biases he has developed in any way he sees fit to communicate or simply be in his polarity to aid the total consciousness of the planet. Is there any, shall I say, more physical way that he aids in— what I mean is, do the vibrations somehow add, just as electrical polarity or charging a battery or something? Does that also aid the planet, just the physical presence of the Wanderers?

Ra: I am Ra. This is correct and the mechanism is precisely as you state. We intended this meaning in the second portion of our previous answer.

You may, at this time, note that as with any entities, each Wanderer has its unique abilities, biases, and specialties so that from each portion of each density represented among the Wanderers comes an array of pre-incarnative talents which then may be expressed upon this plane which you now experience so that each Wanderer, in offering itself before incarnation, has some special service to offer in addition to the doubling effect of planetary love and light and the basic function of serving as beacon or shepherd.

Thus there are those of fifth density whose abilities to express wisdom are great. There are fourth- and sixth-density Wanderers whose ability to serve as, shall we say, passive radiators or broadcasters of love and love/light are immense. There are many others whose talents brought into this density are quite varied.

Thus Wanderers have three basic functions once the forgetting is penetrated, the first two being basic, the tertiary one being unique to that particular mind/body/spirit complex.

We may note at this point while you ponder the possibility/probability vortices that although you have many, many items which cause distress and thus offer seeking and service opportunities, there is always one container in that store of peace, love, light, and joy. This vortex may be very small, but to turn one’s back upon it is to forget the infinite possibilities of the present moment. Could your planet polarize towards harmony in one fine, strong moment of inspiration? Yes, my friends. It is not probable; but it is ever possible.

[Louisabell]

Just out of curiosity Patrick, what do you think this special service was? The mass production of the electric car?

Edit: Or space flight? :idea:

[Patrick]

Just out of curiosity Patrick, what do you think this special service was? The mass production of the electric car?

Edit: Or space flight? :idea:

I am surprised by everything he manages to accomplish. It's the sort of thing that the Elites would not want done so fast. Space is interesting but it is not where his efforts are best focused for humanity.

Mostly he single handedly initiated the electrification of transport in a way that the Elites could not easily stop. And now all manufacturers are following in order to survive. I would say he cut decades out of the normal timing for this to happen.

In about 5 years, these cars will be at price parity with gasoline cars and another couple years before the used car market also has electric cars at price parity. When this happens, gasoline will truly be on its way out. Because if people can buy a used 5000$ electric car with 600km of range there will be very little reason to buy gasoline cars. I could not wait that long so I bought a Model 3 even though it is overpriced for me.

[confusedseeker]

They still haven't even proven that carbon is detrimental. Think about that. The Green movement is all about taxation and propaganda.

[Patrick]

What I like the most about electrical transportation is that it makes people independent.  It's not too hard or too expansive to make electricity at home, but making gasoline is another story.

[confusedseeker]

You can tell how disruptive this stuff can be by listening to how establishment hacks like Janet Yellen warn about it. It's obvious they are scared of the freedom this stuff can provide. Pretty soon they will try to bring the hammer down.... They might be too late.

[jafar]

[quote='Great Central Sun' pid='285842' dateline='1607900690']
There is being worked on a Quantum Financial System. And something called SWIFT.
They are supposed to give unlimited funding for all.

Unlimited funding is already happening, that's what "Fiat currency" provides.

The limit of the funding for a currency is commonly controlled by 'the government who backed that currency'.
If it's totally unlimited funding, then the value of that currency will fall, also known as 'inflation'.

While Bitcoin mechanism of fund control is distributed, through 'a process' called 'validation of transaction' performed by network of 'miners'. The more people perform transaction / transfer of bitcoin the more new bitcoin currency will be issued.

In specific case such as US, the US Dollar is controlled by a consortium of 'private bankers' called "Federal Reserves", thus *NOT* entirely under the control of the federal government (read: Presidential office). Thus actually the proper name of the currency should be "US Private Bankers Dollar".
The process of printing / issuing new US dollar is controlled by the consortium of private bankers and distributed through private banks as it's first layer of distribution.

China (PRC) for example, is different, the government have full control over RMB. And since all banks are also owned by government. The PRC government have full control from issuing up to the 1st layer of distribution of the RMB currency.

With such control, in which US Federal Government doesn't have over US Dollar, the China government is able to engineer the relative value of RMB to remain 'competitive' (read: low) in comparison to other currencies. Thus making things with the same time & effort in China is considered to be 'relatively cheaper' than in the United States.

China (PRC) government adopted that policy because it tries to give employment / work opportunity to it's citizen, which is the largest in the world. Because it's 'competitive' then the government hopes that it will attract foreign investor to come to China and build factories and businesses providing work opportunities to it's citizen.

This policy is being adopted after a big 'internal fights' inside PRC, read the history how Deng Xiaoping was internally accused for being 'puppet of the Capitalist' and how it has 'turned chinese to become slave to the foreigners' when he start to open up China to foreign investors.

"No matter if it is a white cat or a black cat; as long as it can catch mice, it is a good cat."
-- Deng Xiaoping

And because many of the foreign investors in China are actually US companies who closed their factory in the US and build new factory in China, US politicians is starting to frame this PRC's policy as "EVIL" thus "The Enemy".

Again as mentioned, 'good' or 'bad/evil' is purely dependent on the perspective.
Currency is 'neutral' not good or bad/evil either...

If US Federal Government wanted to have control over US Dollar in the same manner as PRC government have control over RMB, what they should do is abolished The Federal Reserve, next is to nationalize all banking institutions operating inside the USA thus all US Banks are owned by the Federal Government.

If not it really doesn't matter who shall become the President as even the President doesn't have control over US Dollar.

SWIFT system exists, and it is how international payments in the world are being handled for decades now. If anyone sends money to his/her granma in another country, it has been going through SWIFT already. Its a transfer system. Has nothing to do with a new economy or a new system.

Correct..

[flofrog]

In about 5 years, these cars will be at price parity with gasoline cars and another couple years before the used car market also has electric cars at price parity. When this happens, gasoline will truly be on its way out. Because if people can buy a used 5000$ electric car with 600km of range there will be very little reason to buy gasoline cars. I could not wait that long so I bought a Model 3 even though it is overpriced for me.

It’s extraordinary how now countries in the Middle East, oil providers, are suddenly turning gung ho for green energy,    

I wonder what happened to Tata in India, who about seven years ago had announced working on a car zero energy...

[confusedseeker]

A good indicator you're on the right side is when the technocratic elite are against it; here is our new "master" Bill Gates talking down crypto currency:

https://www.moneycontrol.com/news/techno...45691.html

Which is fine, except for the fact that Microsoft has a patent to MINE CRYPTOCURRENCY by data mining humans. What a joke these people are. Same guy said we shouldn't eat meat anymore, LOL.