Top 5 countries where you can start your bitcoin exchange ...
Top 5 countries where you can start your bitcoin exchange ...
As Countries Start to Spiral Into Monetary Crisis, Will ...
11 Countries Where Bitcoin is Still Illegal - Bitcoinist.com
Countries Where Bitcoin Is Legal & Illegal (DISH, OTSK)
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How are banks in other countries dealing with individuals that start Bitcoin Exchanges?
In other countries which allow bitcoin businesses, are the banks starting to deal in bitcoins and compete with Bitcoin Exchanges run by individuals? Or have the overseas banks reduced their charges to compete that way? What are the big overseas banks doing?
A Korean university said Sunday it opened a store last week that accepts bitcoins for payment, becoming the country's first university to deal with the controversial virtual currency: the hot dog joint on the Seoul campus of Hanyang University started to accept bitcoins on Monday.
Putting $400M of Bitcoin on your company balance sheet
Also posted on my blog as usual. Read it there if you can, there are footnotes and inlined plots. A couple of months ago, MicroStrategy (MSTR) had a spare $400M of cash which it decided to shift to Bitcoin (BTC). Today we'll discuss in excrutiating detail why this is not a good idea. When a company has a pile of spare money it doesn't know what to do with, it'll normally do buybacks or start paying dividends. That gives the money back to the shareholders, and from an economic perspective the money can get better invested in other more promising companies. If you have a huge pile of of cash, you probably should be doing other things than leave it in a bank account to gather dust. However, this statement from MicroStrategy CEO Michael Saylor exists to make it clear he's buying into BTC for all the wrong reasons:
“This is not a speculation, nor is it a hedge. This was a deliberate corporate strategy to adopt a bitcoin standard.”
Let's unpack it and jump into the economics Bitcoin:
Is Bitcoin money?
No. Or rather BTC doesn't act as money and there's no serious future path for BTC to become a form of money. Let's go back to basics. There are 3 main economic problems money solves: 1. Medium of Exchange. Before money we had to barter, which led to the double coincidence of wants problem. When everyone accepts the same money you can buy something from someone even if they don't like the stuff you own. As a medium of exchange, BTC is not good. There are significant transaction fees and transaction waiting times built-in to BTC and these worsen the more popular BTC get. You can test BTC's usefulness as a medium of exchange for yourself right now: try to order a pizza or to buy a random item with BTC. How many additional hurdles do you have to go through? How many fewer options do you have than if you used a regular currency? How much overhead (time, fees) is there? 2. Unit of Account. A unit of account is what you compare the value of objects against. We denominate BTC in terms of how many USD they're worth, so BTC is a unit of account presently. We can say it's because of lack of adoption, but really it's also because the market value of BTC is so volatile. If I buy a $1000 table today or in 2017, it's roughly a $1000 table. We can't say that a 0.4BTC table was a 0.4BTC table in 2017. We'll expand on this in the next point: 3. Store of Value. When you create economic value, you don't want to be forced to use up the value you created right away. For instance, if I fix your washing machine and you pay me in avocados, I'd be annoyed. I'd have to consume my payment before it becomes brown, squishy and disgusting. Avocado fruit is not good money because avocadoes loses value very fast. On the other hand, well-run currencies like the USD, GBP, CAD, EUR, etc. all lose their value at a low and most importantly fairly predictible rate. Let's look at the chart of the USD against BTC While the dollar loses value at a predictible rate, BTC is all over the place, which is bad. One important use money is to write loan contracts. Loans are great. They let people spend now against their future potential earnings, so they can buy houses or start businesses without first saving up for a decade. Loans are good for the economy. If you want to sign something that says "I owe you this much for that much time" then you need to be able to roughly predict the value of the debt in at the point in time where it's due. Otherwise you'll have a hard time pricing the risk of the loan effectively. This means that you need to charge higher interests. The risk of making a loan in BTC needs to be priced into the interest of a BTC-denominated loan, which means much higher interest rates. High interests on loans are bad, because buying houses and starting businesses are good things.
BTC has a fixed supply, so these problems are built in
Some people think that going back to a standard where our money was denominated by a stock of gold (the Gold Standard) would solve economic problems. This is nonsense. Having control over supply of your currency is a good thing, as long as it's well run. See here Remember that what is desirable is low variance in the value, not the value itself. When there are wild fluctuations in value, it's hard for money to do its job well. Since the 1970s, the USD has been a fiat money with no intrinsic value. This means we control the supply of money. Let's look at a classic poorly drawn econ101 graph The market price for USD is where supply meets demand. The problem with a currency based on an item whose supply is fixed is that the price will necessarily fluctuate in response to changes in demand. Imagine, if you will, that a pandemic strikes and that the demand for currency takes a sharp drop. The US imports less, people don't buy anything anymore, etc. If you can't print money, you get deflation, which is worsens everything. On the other hand, if you can make the money printers go brrrr you can stabilize the price Having your currency be based on a fixed supply isn't just bad because in/deflation is hard to control. It's also a national security risk... The story of the guy who crashed gold prices in North Africa In the 1200s, Mansa Munsa, the emperor of the Mali, was rich and a devout Muslim and wanted everyone to know it. So he embarked on a pilgrimage to make it rain all the way to Mecca. He in fact made it rain so hard he increased the overall supply of gold and unintentionally crashed gold prices in Cairo by 20%, wreaking an economic havoc in North Africa that lasted a decade. This story is fun, the larger point that having your inflation be at the mercy of foreign nations is an undesirable attribute in any currency. The US likes to call some countries currency manipulators, but this problem would be serious under a gold standard.
Currencies are based on trust
Since the USD is based on nothing except the US government's word, how can we trust USD not to be mismanaged? The answer is that you can probably trust the fed until political stooges get put in place. Currently, the US's central bank managing the USD, the Federal Reserve (the Fed for friends & family), has administrative authority. The fed can say "no" to dumb requests from the president. People who have no idea what the fed does like to chant "audit the fed", but the fed is already one of the best audited US federal entities. The transcripts of all their meetings are out in the open. As is their balance sheet, what they plan to do and why. If the US should audit anything it's the Department of Defense which operates without any accounting at all. It's easy to see when a central bank will go rogue: it's when political yes-men are elected to the board. For example, before printing themselves into hyperinflation, the Venezuelan president appointed a sociologist who publicly stated “Inflation does not exist in real life” and instead is a made up capitalist lie. Note what happened mere months after his gaining control over the Venezuelan currency This is a key policy. One paper I really like, Sargent (1984) "The end of 4 big inflations" states:
The essential measures that ended hyperinflation in each of Germany,Austria, Hungary, and Poland were, first, the creation of an independentcentral bank that was legally committed to refuse the government'sdemand or additional unsecured credit and, second, a simultaneousalteration in the fiscal policy regime.
In english: *hyperinflation stops when the central bank can say "no" to the government." The US Fed, like other well good central banks, is run by a bunch of nerds. When it prints money, even as aggressively as it has it does so for good reasons. You can see why they started printing on March 15th as the COVID lockdowns started:
The Federal Reserve is prepared to use its full range of tools to support the flow of credit to households and businesses and thereby promote its maximum employment and price stability goals.
In english: We're going to keep printing and lowering rates until jobs are back and inflation is under control. If we print until the sun is blotted out, we'll print in the shade.
BTC is not gold
Gold is a good asset for doomsday-preppers. If society crashes, gold will still have value. How do we know that? Gold has held value throughout multiple historic catastrophes over thousands of years. It had value before and after the Bronze Age Collapse, the Fall of the Western Roman Empire and Gengis Khan being Gengis Khan. Even if you erased humanity and started over, the new humans would still find gold to be economically valuable. When Europeans d̶i̶s̶c̶o̶v̶e̶r̶e̶d̶ c̶o̶n̶q̶u̶e̶r̶e̶d̶ g̶e̶n̶o̶c̶i̶d̶e̶d̶ went to America, they found gold to be an important item over there too. This is about equivalent to finding humans on Alpha-Centauri and learning that they think gold is a good store of value as well. Some people are puzzled at this: we don't even use gold for much! But it has great properties: First, gold is hard to fake and impossible to manufacture. This makes it good to ascertain payment. Second, gold doesnt react to oxygen, so it doesn't rust or tarnish. So it keeps value over time unlike most other materials. Last, gold is pretty. This might sound frivolous, and you may not like it, but jewelry has actual value to humans. It's no coincidence if you look at a list of the wealthiest families, a large number of them trade in luxury goods. To paraphrase Veblen humans have a profound desire to signal social status, for the same reason peacocks have unwieldy tails. Gold is a great way to achieve that. On the other hand, BTC lacks all these attributes. Its value is largely based on common perception of value. There are a few fundamental drivers of demand:
Means of Exchange: if people seriously start using BTC to buy pizzas, then this creates a real demand for the currency to accomplish the short-term exchanges. As we saw previously, I'm not personally sold on this one and it's currently a negligible fraction of overall demand.
Criminal uses: Probably the largest inbuilt advantage of BTC is that it's anonymous, and so a great way to launder money. Hacker gangs use BTC to demand ransom on cryptolocker type attacks because it's a shared way for an honest company to pay and for the criminals to receive money without going to jail.
Apart from these, it's hard to argue that BTC will retain value throughout some sort of economic catastrophe.
BTC is really risky
One last statement from Michael Saylor I take offense to is this:
“We feel pretty confident that Bitcoin is less risky than holding cash, less risky than holding gold,” MicroStrategy CEO said in an interview
"BTC is less risky than holding cash or gold long term" is nonsense. We saw before that BTC is more volatile on face value, and that as long as the Fed isn't run by spider monkeys stacked in a trench coat, the inflation is likely to be within reasonable bounds. But on top of this, BTC has Abrupt downside risks that normal currencies don't. Let's imagine a few:
A critical software vulnerability is found in the BTC codebase, leading to a possible exploitation.
Xi Jinping decides he's had enough of rich people in China hiding their assets from him and bans BTC.
Some form of bank run takes hold for whatever reason. Because BTC wallets are uninsured, unlike regular banks, this compounds into a Black Tuesday style crash.
Blockchain solutions are fundamentally inefficient
Blockchain was a genius idea. I still marvel at the initial white paper which is a great mix of economics and computer science. That said, blockchain solutions make large tradeoffs in design because they assume almost no trust between parties. This leads to intentionally wasteful designs on a massive scale. The main problem is that all transactions have to be validated by expensive computational operations and double checked by multiple parties. This means waste:
BTC was estimated to use as much electricity as Belgium in 2019. It's hard to trace where the BTC mining comes from, but we can assume it has a huge carbon footprint.
A single transactions is necessarily expensive. A single transaction takes as much electricity as 800,000 VISA transactions, or watching 50,000 hours of youtube videos.
There is a large necessary tax on the transaction, since those checking the transaction extract a few BTC from it to be incentivized to do the work of checking it.
Many design problems can be mitigated by various improvements over BTC, but it remains that a simple database always works better than a blockchain if you can trust the parties to the transaction.
US OFAC issues advisory: ransom payments for ransomware may involve felony charges and personal civil liability for staff.
Under the authority of the International Emergency Economic Powers Act (IEEPA) or the Trading with the Enemy Act (TWEA),9 U.S. persons are generally prohibited from engaging in transactions, directly or indirectly, with individuals or entities (“persons”) on OFAC’s Specially Designated Nationals and Blocked Persons List (SDN List), other blocked persons, and those covered by comprehensive country or region embargoes (e.g., Cuba, the Crimea region of Ukraine, Iran, North Korea, and Syria). Additionally, any transaction that causes a violation under IEEPA, including transactions by a non-U.S. person which causes a U.S. person to violate any IEEPA-based sanctions, is also prohibited. U.S. persons, wherever located, are also generally prohibited from facilitating actions of non-U.S. persons, which could not be directly performed by U.S. persons due to U.S. sanctions regulations. OFAC may impose civil penalties for sanctions violations based on strict liability, meaning that a person subject to U.S. jurisdiction may be held civilly liable even if it did not know or have reason to know it was engaging in a transaction with a person that is prohibited under sanctions laws and regulations administered by OFAC.
Sauce Here: https://home.treasury.gov/system/files/126/ofac_ransomware_advisory_10012020_1.pdf OFAC Sanctions list here: https://sanctionssearch.ofac.treas.gov/ Analysis: Both TWEA and IEEPA carries Criminal and Civil penalties, so under these acts they can fine the company, fine staff directly, or press criminal charges. We know the US Government as part of both the 5 eyes agreements and domestic bank monitoring programs under FACTA monitors all international wire transfers. Bitcoin and other cryptocurrencies generally leave a paper trail that can be traced back to who purchased the currency. What I expect to start happening here is most CFO's are going to write off the cost of the ransom as a tax deduction which tips off the IRS that a ransom of some kind was paid. I expect the next step is the IRS is going to start asking for additional proof of payment and additional information about the cases. That puts CFO's in a bind, because I expect both the IRS, and federal courts, won't let it fly that you didn't know who you were paying money to under the TWEA. They'll sit on the data, and when eventually an APT Group gets compromised, they'll trace the payments back via said tax records. At that point, if your org paid under this, that data gets used to open up a search warrant and then they rip you a new one especially if the payment was substantial. The bigger issue here is it opens up tremendous liability for security services firms and insurers who pay ransoms on behalf of clients or advise clients to pay ransoms. Now is a good time to review your backup strategy and ensure you have tested backups that are isolated from your infrastructure. For those of you with your hands tied behind your back, now is a good time to gently remind your management staff, and especially the CFO if you have their ear, that they cannot rely on the renound cryptographic competence of our eastern european bretheren, and that their worst-case risk is a determined remote attacker and adversary of the US infecting your network, destroying the data while making it look like a ransomware attack, selling you worthless encryption keys to fund their operation before flaunting the fact they took you for a fool with a press release taking credit for the attack to tip off state government you paid them in order to further disrupt the company operations via putting your talented technical staff or c-suite staff in handcuffs and injuring your PR. To those of you in the business who are afraid of being scapegoated or in a tenuous situation, getchu some evidence tape and some tags, some vanilla envelopes and a glue stick. Print 2 copies, put one copy in a folder, seal it with evidence tape and a tag, then use your handy glue stick to adhere the other vanilla folder to its back and put the 2nd copy in so you can review the paperwork without breaking the evidence seal and shove that sucker in a fire proof safe or safety deposit box. Also, Mailstore home is free. TL;DR: If your company is attacked by ransomware, tell the management only facts of the occurance you know, what you can and cannot do for them, and don't advise them of anything upto and including getting a security services firm involved. I wouldn't even tell them paying the ransom might work. If you're going to have a verbal conversation, make it a one-on-one. Happy Saturday all!
Bored? Looking for something to do? Start with this list of things to do in the Sacramento area.
(Credit for the below list has to be given to u/BurritoFueled, who created the original list in 2014 and updated it a year later. Almost two-thirds of the items below are still from that original list. All I’ve done with the list is revive it a little bit by updating dead links and making little tweaks when necessary. Also, thanks to those that submitted new additions to the list last week. Over a third of the below items are new and a lot of the original items have had newer information added onto them.) People are always looking for something to do around here. Maybe you’re a transplant, unaware of what this area has to offer, or maybe you’re a lifelong resident, tired of the same old thing. Well friend, if you fall into the latter category, do not despair. There’s actually plenty of things to do in the Sacramento area – things of interest to almost any lifestyle, personality, or budget. So, whether you’re an athlete, geek, eccentric, hipster, weirdo, sexual deviant or just a normal person looking for a new activity, below is a list of activities for you to try. Please note that it includes only activities that take place at least a few times a year – no one-off events or festivals here. Enjoy this list. If you have any suggestions of your own to add, comment below in this thread. I'll try to keep this as up to date as possible. Away we go. UPDATED 10-6-20 (Note: Due to the current pandemic, some of these activities may be curtailed or not offered at all.)
Become the next Tiger Woods (the golf part, not the cheating, getting your windshield smashed by your wife with one of your golf clubs part). Start by hitting up a driving range at Top Golf or Haggin Oaks.
Purchase the sweetest sweet corn in all the land at the Davis Ranch in Sloughhouse.
When you're done in Sloughhouse, head a little further up the Jackson Highway (just past Rancho Murieta), hang a left on Michigan Bar Road, and cross the bridge (it's safe, trust me!) for one of the most historic, beautiful, and adventurous road trips in the entire area. Make sure you bring a hearty vehicle and avoid during winter and spring.
Check out – or offer your services – at the Oak Park Fix-it Café, a community-powered gathering for repairing and maintaining bicycles, clothing, household items, and the ties that bind a healthy community.
Buy some tricks, attend magic workshops, and become the next David Blaine at Grand Illusions.
Go watch some horseracing at Cal Expo. It’s harness racing from November through April and then traditional horseracing during the state fair. Want to end up with small fortune at the end of your day at the track? It’s easy. Just start your day there with a large fortune.
Watch some high school football! The Sacramento region boasts some of the best high school programs in the state. Check out top notch teams like Grant, Elk Grove, Folsom, and Del Oro to see potential NCAA Division 1 and NFL players of the future.
Watch some college football! Sac State had a huge resurgence in 2019 and UC Davis has always had a solid program. You can also check out the JC teams such as ARC and Sac City.
If Live-Action Role Play (LARP) floats your boat, Sacramento Valley Amtgard has the battles, weapons workshops, and skills classes you've been looking for.
Take a ride on the Sacramento River Train. You can ride the train or power along the tracks yourself with railbikes. They have different train excursions, including beer tasting and wine tasting trips. If you want to book a trip on a weekend, book early.
Want to learn how to fish? Try Fishing in the City from the California Department of Fish and Wildlife. After you’ve learned, check out the blog from FishingBooker on where and when to go fishing and what to expect. For some recent local recommendations, check here, here, here or here.
If fishing tours are more your style, catch your lunch on a guided fishing tour of local waterways.
Take in a play at one of Sacramento's smaller, edgier, more contemporary community theatre companies, like the Big Idea Theatre.
Do you like beer and visiting breweries, but don’t like driving between them? Midtown Sacramento has got you covered! Make a day of it by visiting these breweries, all within easy walking distance of each other: At Ease, Sacrament, Big Stump, Golden Road, Fieldwork, and Alaro. If you don’t mind walking a few extra blocks, you can add Device and Urban Roots to the list.
Ever wanted to learn to sail, kayak or row? You’re in luck! The Sac State Aquatic Center offers lessons for those activities and more.
Antiquing never gets old, right? Visit Midway Antique Mall in Citrus Heights (focusing almost solely on midcentury wares), Antique Trove in Roseville, or the Antique Fair that happens every second Sunday on X Street, under the freeway.
Want to become the next Picasso? You gotta start somewhere, so take a paint and sip class at The Painted Cork in Midtown Sacramento or Historic Folsom.
It’s well known that you can play miniature golf at Scandia, but did you know that there are indoor mini golf courses in the area as well? Try SacMiniGolf in Old Sacramento, Flatstick Pub in DoCo downtown, or even glow-in-the-dark indoor mini golf at Monster Mini Golf in Rancho Cordova or at CaliGlo in Elk Grove.
The Sacramento Cactus and Succulent Society meets, and hosts a talk, at the Shepard Garden and Arts Center in McKinley Park monthly and welcomes guests. They also do field trips and their Annual Show and Sale is a must-see event for plant lovers.
Not to diminish the concert series at Fair Oaks Village Park, but when you hear "concerts in the park", everyone knows that is the Concerts in the Park series in downtown Sacramento. Live local and national acts perform on Friday evenings in the summer, and it’s totally free. If you’re not good with crowds you may want to give this a miss because it is packed!
Vacation or day trip so close, yet feel so far away, along the Delta. Rent a boat, jet skis, a cabin or camping spot, buy some bait and tackle, and/or eat out at various locations on the river.
Take a drive around the world’s smallest mountain range: the Sutter Buttes. You can actually drive around and hike the Sutter Buttes in the same day, however hiking is not free, you must do it as part of a guided group and you have to reserve a spot in advance.
LET US KNOW WHAT YOU THINK! 📣 You asked for it, we did it! You can finally start swapping your coins directly in Ledger Live. The feature is available both on mobile and desktop, so you can start swapping securely from wherever you are! We invite you to try the SWAP in Ledger Live and let us know what you think! If you already have the Ledger Live app installed on your devices you will see the update appearing automatically. Please note that the swap feature is not available in some countries, including the United States. Learn more about how to swap coins with Ledger Live in our support article. All feedback is welcome on this thread and you can send suggestions or get help through our official contact form.
I want to share my 2017 crypto market experience for anyone who wants to read it, I was one of the greedy guys who knew nothing about trading and still made a potential ton, then lost it all due to, well... Being greedy and knowing nothing about trading.
This does not really bother me much, but I haven't been able to stop thinking about it either, what could have been, I will try to be as brief as posible: Back in 2011-2016 I was working as a software developer freelancer, back then I lived in Venezuela, and mostly used paypal to charge clients, paypal would constantly limit my account, but I would get it back after submitting documents and a bit of begging, this was the only way I could receive payments from international clients, and basically the single point of failure in the process of delivering my work and getting paid, if paypal permanently banned me I would be completely screwed. About 2015-2016 my paypal got limited permanently, no reason stated, I thought it was really unfair as I only received payments from business in countries like the US or Canada, no sketchy money entering my account, anyway, when this happened I became incredibly stressed and depressed, all I could think was I wouldn't be able to feed my family anymore, and what would I do if an emergency happened that same day or week or however long it took me to figure out how to receive payments again through another method, all I had was held in my paypal account, so I had nothing to defend myself in the meantime. Anyway, it took me about a week of constant reading to realize I could convince a few clients to buy crypto for me, I lost about 60% out of my stream of income due to clients ditching me as they didn't want the bother of purchasing crypto just to pay a freelancer they could replace for one that was easier to work with, I used localbitcoins to sell the bitcoins I got for national currency so that I could purchase what I needed, I was not really able to stock up on some bitcoin as an investment as I spent everything I earned due to sustaining my almost the entirety of my immediate family. Fast forward to 2016 or 2017, and I start to try out purchasing bits of crypto, and trying to time the market to make a little bit more, doing this somehow I managed to convert about $100, into $400-$500 in a matter of a few months. Then hits late 2017, around august I believe, when everyone was purchasing alts like crazy even if they were scams, most people were blinded by greed, me included, it was at that point that I decided to drop work for a few weeks to see if I could make some good profit out of the state of the market, and so I took those $400 or $500, and started to daily trade with it, making 20% sometimes, 30% or 50%, as well as sometimes losing everything I had done during the day, a few of the trades I remember doing was purchasing LTC, XRP, IOTA, BCH and a few more right before they 2x or 3x in price, I was doing swing trades with the entirety of my portfolio, because I realized I could earn more that way, so if I had 5k total in crypto, I would do the swing trade with the entirety of it, and either lose $1000 or make $1000 if it moved 20% in either direction, my only real strategy was to read up on most recent trading discussions on a few social media, which was no strategy at all, I was just being reckless, I remember I could only sleep 2 hours every night because I was afraid of losing everything while being asleep, I set a bunch of alerts, was stressed, didn't want to talk to relatives nor anyone because I would feel like dying when losing 10% or 20% out of my portfolio when it grew to a certain point. Anyway, at some point I got up to $20k, or $25k, then decided to put it all in XML because I had read some discussions on it, and realized people seemed to really like it, don't remember exactly what was my entry price, but when XLM almost got up to $0.70 - $1 a few days or weeks later, my portfolio was worth $130k, and it remained that way for a whole 24 hours or so, If I remember correctly My heart was racing, I thought for sure I was going to make it $1m at some point Then, of course, everything started to crash hard... just a few days later my portfolio was worth $80k, a few days more and I was at $60k, I started to panic like any regular silly greedy guy and tried to profit off some swings only to lose more than I would profit from, months of sleepless nights later, with a lot less hair in my head, I finally decided to take it all out, at which point I had about $12k worth of crypto. I used that money to get me, my wife and my mom out of the country, I was also lucky to have dual citizenship thanks to my mom having been born in another country, so I could move to a first world developed european country instead of another struggling country in south america, I was able to set up proper bank accounts so that I could find good clients and make it easier for them to pay me my dues and still use crypto for those that were willing, and of course, I took my work back as a freelancer, although by this point my previous clients had found other people to work with. In the end things turned great, I suppose, I would not have been able to save up those same $12k while working as a freelancer back in Venezuela, not even close, that whole experience got me out of that awful country and way of life, still, I can't stop thinking that if I at least had gotten out at $80k, or even $60k, I would have a down payment on a decent house, were, even 1/3 of the price of it, easily... instead, I blew through it while moving to the new country and paying a year worth of rent plus a couple of work laptops for both me and my wife. This part of my life will always be a crazy memory to keep, and share with future friends I may make, so I felt like sharing it here as I have been watching the sub for a while, though I just lurk.
The Institutional Financial Markets worth trillions having been moving into the new gold: Bitcoin, because the US is headed towards having more Debt than its economy produces. In other words, insolvency. A situation not seen since the Great Depression.
Link to source articles screenshots this post elaborates on The last time this happened where the US owed more than it was worth, people, companies, and governments moved their wealth into gold(bought gold) to protect themselves from hyper inflation since it was the best finite asset(limited in its amount) in that time. For those who don’t know what inflation is, it’s when there is a faster loss of value to the dollar, and what it can buy. Why everything is more expensive now than it was when you were a kid. That last time this happened was the Great Depression that most of us read about in school. This time around, the people and companies with the wealth are choosing to adopt the new gold it appears: ₿itcoin. Billions of Dollar$ are already pouring into Bitcoin, from companies with Trillions$ in managed assets that they need to protect. And with that now starting to move into Bitcoin, Bitcoin’s math limiting it to 21 million coins puts Bitcoin at well over 100k a coin by the time this momentum matures, and the trillions these companies manage move more into Bitcoin. Zoom in, and read the articles in this collage. They show companies managing Trillions of dollars already Buying Bitcoin. To hold for their clients, and customers, and even as treasury reserve asset for their own companies. That will only continue to grow. Eventually, we’ll be hearing of Countries, Nations, State, and Cities beginning to buy Bitcoin as a treasury reserve asset. When that happens, the road map for millions of dollars per Bitcoin will begin to come to form. If you haven’t been buying whatever you can this whole time, make sure you do before this next price run. Because after this one, you’ll never see Bitcoin as low as the 10k’s $ per ₿itcoin again. There is a digital change happening to the financial world, much like when the internet met the world of media and information. Better to hop on early now, than when the government starts buying Bitcoin for you much later for your 401ks. Because by then, the price will likely be Millions, to tens of millions per Bitcoin that they’ll be buying it for you at.
There is a constant war being fought between goldbugs, like Peter Schiff, and Bitcoin enthusiasts so I decided to make an outline, with links, comparing and contrasting gold and Bitcoin. I made this in November of 2019 (thus the information therein is based on figures from that time) but, being scatter brained, neglected to post this for the Bitcoin community to see. The yardsticks I used to compare the two assets included the following: shipping/transactions costs, storage costs, censorship factor, settlement time, stock to flow, blockchain vs clearing house, validation, etc. I will also touch on Roosevelt's gold confiscation executive order in 1933, transporting gold during the Spanish Civil War in 1936, and the hypothetical cost for Venezuela to repatriate its gold more recently. I will provide a brief summary first then follow that with the outline I made. This information can be used as a tool for the Bitcoin community to combat some of the silly rhetoric coming from goldbugs such as Peter Schiff and James Rickards. I would like to make it clear, however, that I am not against gold and think that it performed its role as money very well in a technologically inferior era, namely Victorian times but I think Bitcoin performs the functions of money better than gold does in the current environment. I have been looking to make a contribution to the Bitcoin community and I hope this is a useful and educational tool for everyone who reads this. Summary: Shipping/transaction costs: 100 ounces of gold could be shipped for 315 dollars; the comparable dollar value in Bitcoin could be sent for 35 dollars using a non-segwit address. Using historical precendent, it would cost an estimated $32,997,989 to transport $1 billion in gold using the 3.3% fee that the Soviets charged the Spaniards in 1936; a $1 billion Bitcoin transaction moved for $690 last year by comparison. Please note that the only historic example we can provide for moving enormous sums of gold was when the government of Spain transported gold to Moscow during the Spanish Civil War in 1936. More information on this topic will be found in the notes section. Storage costs: 100 ounces of gold would require $451 per year to custody while the equivalent value of Bitcoin in dollar terms could be stored for the cost of a Ledger Nano S, $59.99. $1 billion USD value of gold would cost $2,900,000 per year while an Armory set up that is more secure would run you the cost of a laptop, $200-300. Censorship factor: Gold must pass through a 3rd party whenever it is shipped, whether for a transaction or for personal transportation. Gold will typically have to be declared and a customs duty may be imposed when crossing international borders. The key take-away is gatekeepers (customs) can halt movement of gold thus making transactions difficult. $46,000 of gold was seized in India despite the smugglers hiding it in their rectums. Settlement time: Shipping gold based on 100 ounces takes anywhere from 3-10 days while Bitcoin transactions clear in roughly 10 minutes depending on network congestion and fee size. Historic confiscation: Franklin Roosevelt confiscated and debased the paper value of gold in 1933 with Executive Order 6102. Since gold is physical in nature and value dense, it is often stored in custodial vaults like banks and so forth which act as a honeypot for rapacious governments. Stock to flow: Plan B's stock to flow model has become a favorite on twitter. Stock to flow measures the relationship between the total stock of an asset against the amount that is produced in a given year. Currently gold still has the highest value at 62 while Bitcoin sits at 50 in 2nd place. Bitcoin will overtake gold in 2024 after the next halving. Blockchain vs clearing house: gold payments historically passed through a 3rd party (clearinghouse) in order to be validated while Bitcoin transactions can be self validated through the use of a node. Key Takeaway from above- Bitcoin is vastly superior to gold in terms of cost, speed, and censorship resistance. One could theoretically carry around an enormous sum of Bitcoin on a cold card while the equivalent dollar value of gold would require a wheelbarrow...and create an enormous target on the back of the transporter. With the exception of the stock to flow ratio (which will flip in Bitcoin's favor soon), Bitcoin is superior to gold by all metrics covered. Notes: Shipping/transaction costs Gold 100 oz = 155,500. 45 x 7 = $315 to ship 100 oz gold. https://seekingalpha.com/instablog/839735-katchum/2547831-how-much-does-it-cost-to-ship-silver-and-gold https://www.coininvest.com/en/shipping-prices/ 211 tonnes Venezuela; 3.3% of $10.5 billion = 346,478,880 or 32,997,989/billion usd http://blogs.reuters.com/felix-salmon/2011/08/23/how-to-get-12-billion-of-gold-to-venezuela/ (counter party risk; maduro; quotes from article) Bitcoin 18 bitcoin equivalent value; 35 USD with legacy address https://blockexplorer.com/ https://bitcoinfees.info/ 1 billion; $690 dollars https://arstechnica.com/tech-policy/2019/09/someone-moved-1-billion-in-a-single-bitcoin-transaction/ Storage costs Gold .29% annually; https://sdbullion.com/gold-silver-storage 100 oz – $451/year $1 billion USD value – $2,900,000/year Bitcoin Ledger Nano S - $59.00 (for less bitcoin) https://shop.ledger.com/products/ledger-nano-s/transparent?flow_country=USA&gclid=EAIaIQobChMI3ILV5O-Z5wIVTtbACh1zTAwqEAQYASABEgJ5SPD_BwE Armory - $200-300 cost of laptop for setup https://www.bitcoinarmory.com/ Censorship factor (must pass through 3rd party) Varies by country Gold will typically have to be declared and a customs duty may be imposed Key take-away is gatekeepers (customs) can halt movement of gold thus making transactions difficult $46,000 seized in India https://www.foxnews.com/travel/indian-airport-stops-29-passengers-smuggling-gold-in-their-rectums Settlement time Gold For 100 oz transaction by USPS 3-10 days (must pass through 3rd party) Bitcoin Roughly 10 minutes to be included in next block Historic confiscation-roosevelt 1933 Executive Order 6102 (forced spending, fed could ban cash, go through and get quotes) https://en.wikipedia.org/wiki/Executive_Order_6102 “The stated reason for the order was that hard times had caused "hoarding" of gold, stalling economic growth and making the depression worse” Stock to flow; https://medium.com/@100trillionUSD/modeling-bitcoins-value-with-scarcity-91fa0fc03e25 (explain what it is and use charts in article) Gold; SF of 62 Bitcoin; SF of 25 but will double to 50 after May (and to 100 in four years) Blockchain vs clearing house Transactions can be validated by running a full node vs. third party settlement Validation Gold; https://www.goldismoney2.com/threads/cost-to-assay.6732/ (Read some responses) Bitcoin Cost of electricity to run a full node Breaking down Venezuela conundrum; http://blogs.reuters.com/felix-salmon/2011/08/23/how-to-get-12-billion-of-gold-to-venezuela/ “The last (and only) known case of this kind of quantity of gold being transported across state lines took place almost exactly 75 years ago, in 1936, when the government of Spain removed 560 tons of gold from Madrid to Moscow as the armies of Francisco Franco approached. Most of the gold was exchanged for Russian weaponry, with the Soviet Union keeping 2.1% of the funds in the form of commissions and brokerage, and an additional 1.2% in the form of transport, deposit, melting, and refining expenses.” “Venezuela would need to transport the gold in several trips, traders said, since the high value of gold means it would be impossible to insure a single aircraft carrying 211 tonnes. It could take about 40 shipments to move the gold back to Caracas, traders estimated. “It’s going to be quite a task. Logistically, I’m not sure if the central bank realises the magnitude of the task ahead of them,” said one senior gold banker.” “So maybe Chávez intends to take matters into his own hands, and just sail the booty back to Venezuela on one of his own naval ships. Again, the theft risk is obvious — seamen can be greedy too — and this time there would be no insurance. Chávez is pretty crazy, but I don’t think he’d risk $12 billion that way.” “Which leaves one final alternative. Gold is fungible, and people are actually willing to pay a premium to buy gold which is sitting in the Bank of England’s ultra-secure vaults. So why bother transporting that gold at all? Venezuela could enter into an intercontinental repo transaction, where it sells its gold in the Bank of England to some counterparty, and then promises to buy it all back at a modest discount, on condition that it’s physically delivered to the Venezuelan central bank in Caracas. It would then be up to the counterparty to work out how to get 211 tons of gold to Caracas by a certain date. That gold could be sourced anywhere in the world, and transported in any conceivable manner — being much less predictable and transparent, those shipments would also be much harder to hijack. How much of a discount would a counterparty require to enter into this kind of transaction? Much more than 3.3%, is my guess. And again, it’s not entirely clear who would even be willing to entertain the idea. Glencore, perhaps?” “But here’s one last idea: why doesn’t Chávez crowdsource the problem? He could simply open a gold window at the Banco Central de Venezuela, where anybody at all could deliver standard gold bars. In return, the central bank would transfer to that person an equal number of gold bars in the custody of the Bank of England, plus a modest bounty of say 2% — that’s over $15,000 per 400-ounce bar, at current rates. It would take a little while, but eventually the gold would start trickling in: if you’re willing to pay a constant premium of 2% over the market price for a good, you can be sure that the good in question will ultimately find its way to your door. And the 2% cost of acquiring all that gold would surely be much lower than the cost of insuring and shipping it from England. It would be an elegant market-based solution to an artificial and ideologically-driven problem; I daresay Chávez might even chuckle at the irony of it. He’d just need to watch out for a rise in Andean banditry, as thieves tried to steal the bars on their disparate journeys into Venezuela.”
[Competitive CS:GO] Gaming Paradise 2015: A tournament with lost PCs, confiscated passports and not a cent of the prize money paid out
CS:GO, or Counter-Strike: Global Offensive is a competitive online shooter that sees two teams competing against each other to either eliminate each other or to complete a certain objective (place or diffuse a bomb, defend or liberate hostages, etc). Gaming Paradise was created by Sassa Bullock, the CEO of Turman organizer Gaming Resorts, which from here on out I'll be referring to as GR. The event was meant to be half CS:GO and half another game called DOTA 2, each with a prize pool of $50,000. It was to take place in Puerto, Slovenia, a small town on the countries Adriatic coast. Since Sassa had no organizing experience, he hired Peter Markovic and his tournament organizing company Gaming Dot RS, which I'll be referring to as RS. RS was to handle getting the tournament itself off the ground: getting a stage, getting high-speed internet set up, etc while Bullock and GR would pay for everything. However, things started to go downhill before play even began. As teams started flying into Slovania for the qualifying rounds, the busses that took them from the airport to the venue was late and they ended up arriving at 3:00 AM. The next day, the first round was delayed due to a storm (the computers where to be set up outside under tents). As things where getting set up for the next round, it was discovered that only the monitors where going to arrive on time as the guy driving the truck carrying the actual PCs had gone MIA. They tried to upgrade some old work stations, which they upgraded using.......less than ethically acquired Eastern European bitcoins, but they still weren't up to the same snuff as the PC's they'd ordered. Keep in mind, this is all happening a week before the first livestreamed matches are supposed to be played. Next week rolls around and the first day begins. The games are touch-and-go, the internet was slow and was causing some serious rubber banding. They were also getting flamed by the Twitch audience for the low-quality, stuttery livestream. Day two, the DOTA 2 half of the tournament is just outright cancelled. Also, its discovered that somewhere in all this confusion, the hotel that the players and tournament staff are staying in was never paid. They called the local police who canfiscated everyone's passports until the payments where made. ALSO also, turns out the venue that the tournament is being played at wasn't paid either and its staff locked the tournament's production staff out. Oh, and one more thing. Remember Sassa? The CEO of GR? Well, he shows up and announces that due to having to basically pay off the hotel, venue AND the police, he no longer had the prize money and that whoever won wouldn't be getting the winnings for up to 90 days after all this was over. Several days, stuttery matches and bad livestreams later, a team called Kinguins ended up winning the tournament. 90 days pass and......no prize money. Yeah, turns out GR filed for bankruptcy days after everyone got home, and Sassa basically dropped off the face of the Earth. But, I would like to point out how awesome RS was through all this. Not only did they help everyone get their passports back, but they paid for everyone to fly to Dubai for another tournament they were late for, and its CEO held a Reddit AMA answering every question he possibly could about the tournament and what all went wrong. So, yeah. that was Gaming Paradise. Busted computers, seized passports and an act of God. There's been no tournament quite like it. I would like to leave you all with a quote that Sassa gave the website the Daily Dot: "It was my first event, and I still did much better than anybody around."
First of all the time period I am looking at is 15-20 years from now. So nothing is expected immediately. The US is turning its stance over legal marijuana and is tilting towards full acceptance at Federal level. Although this year's election is pivotal but it is in no way decisive just yet. US, too, needs at least 5-10 years to fully achieve that acceptance at Federal level. However, many companies have already started investing in this industry and are heavily monitored by the investors. Just like Bitcoin, there will be many millionaire stoners in 10-15 years. What I am looking at is the trickle down effect in other countries and see if there is also any grassroots movements to start the legalization process. I know India has a love-hate relationship with weed. On one hand it is very sacred and on the other hand most people fear it. I am not just talking about smoking weed for leisure. The more important factor for legalization is the therapeutic and medicinal aspects. There is great amount of scientific literature coming out in recent times which clearly says that use of weed for depression and as pain killers has more positive results than using the existing opiod-like pharmaceutical drugs. Also, just to mention on the recreational side - Phillip Morris has announced that they will move towards weed based cigarettes in future. They have already invested $2.4 billion dollars in this industry. I think I believe in this path and looking to see if anyone here has thoughts on this industry here in India?
a way that the wealthy could be using police violence against minorities to get even more wealthy
this is pure speculation. here's the article that gave me a clue to how this could work. it's a scam. I'll lay it out below this link, just for the sake of discussion, like I said it's pure speculation. https://www.cnn.com/2020/10/28/us/philadelphia-shooting-protests/index.html so it's a pretty simple scam if you have adequate capital and sufficient time: 1) you find a neighborhood that's getting run down 2) you look around in that neighborhood, and you find a minority victim. somebody that could be believably shot by the police because he has a record or he's just a bad person, any excuse to make it believable. 3) you engineer a situation, where it just happens to come about that the police just happened to shoot that person, kill him dead. egg things on a little bit if you have to, buy a cop if there happens to be one for sale cheap enough; someone with access to criminal databases would be a real asset in finding a target. 4) you sit back and wait until the looting and burning is all done, and the place is just a total loss. 5) you sweep in and buy the real estate at way below market value, because nobody else wants to live there. 6) oh look a magical redevelopment, new condos starting at $750,000! 7) spend the money, or store it somewhere out of the country; probably put it in Bitcoin that seems to be the latest flavor of tulip this week. now as I said, I don't have any facts to say that this is actually happening. it's just that I kind of got the stink of something that could be possible. same methodology could be applying to forest fires in California for all I know. so what do you guys think? I'm figuring a guy could probably get into that business for about half a million and no morals or ethics whatsoever. based on what I know about real estate investing, I think it could actually work if you qualified in the morals and ethics department. you'd probably see about maybe a hundred to one return on investment. over 3 to 5-year span I'd guess. interesting thing is it makes it easy to verify, knowing the pattern all you have to do is look at these areas like the fires in California and see who's been buying a lot of real estate, if the patterns exist they ought to be pretty obvious I'd think. remember folks this is all pure speculation for the purposes of discussion. I think I put that in the flair, but I'm not sure I poked all the right buttons.
You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments. It all started with the release of the release of Satoshi Nakamoto's whitepaper however that will probably go over the head of most readers so we recommend the following videos for a good starting point for understanding how bitcoin works and a little about its long term potential:
Limited Supply - There will only ever be 21,000,000 bitcoins created and they are issued in a predictable fashion, you can view the inflation schedule here. Once they are all issued Bitcoin will be truly deflationary. The halving countdown can be found here.
Open source - Bitcoin code is fully auditable. You can read the source code yourself here.
Accountable - The public ledger is transparent, all transactions are seen by everyone.
Decentralized - Bitcoin is globally distributed across thousands of nodes with no single point of failure and as such can't be shut down similar to how Bittorrent works. You can even run a node on a Raspberry Pi.
Censorship resistant - No one can prevent you from interacting with the bitcoin network and no one can censor, alter or block transactions that they disagree with, see Operation Chokepoint.
Push system - There are no chargebacks in bitcoin because only the person who owns the address where the bitcoins reside has the authority to move them.
Low fee scaling - On chain transaction fees depend on network demand and how much priority you wish to assign to the transaction. Most wallets calculate on chain fees automatically but you can view current fees here and mempool activity here. On chain fees may rise occasionally due to network demand, however instant micropayments that do not require confirmations are happening via the Lightning Network, a second layer scaling solution currently rolling out on the Bitcoin mainnet.
Borderless - No country can stop it from going in/out, even in areas currently unserved by traditional banking as the ledger is globally distributed.
Portable - Bitcoins are digital so they are easier to move than cash or gold. They can even be transported by simply memorizing a string of words for wallet recovery (while cool this method is generally not recommended due to potential for insecure key generation by inexperienced users. Hardware wallets are the preferred method for new users due to ease of use and additional security).
Bitcoin.org and BuyBitcoinWorldwide.com are helpful sites for beginners. You can buy or sell any amount of bitcoin (even just a few dollars worth) and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also check out the bitcoinity exchange resources for a larger list of options for purchases.
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Bitwage. Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".
Securing your bitcoins
With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
If you prefer to "Be your own bank" and have direct control over your coins without having to use a trusted third party, then you will need to create your own wallet and keep it secure. If you want easy and secure storage without having to learn computer security best practices, then a hardware wallet such as the Trezor, Ledger or ColdCard is recommended. Alternatively there are many software wallet options to choose from here depending on your use case.
If you prefer to let third party "Bitcoin banks" manage your coins, try Gemini but be aware you may not be in control of your private keys in which case you would have to ask permission to access your funds and be exposed to third party risk.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email! 2FA requires a second confirmation code to access your account making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
As mentioned above, Bitcoin is decentralized, which by definition means there is no official website or Twitter handle or spokesperson or CEO. However, all money attracts thieves. This combination unfortunately results in scammers running official sounding names or pretending to be an authority on YouTube or social media. Many scammers throughout the years have claimed to be the inventor of Bitcoin. Websites like bitcoin(dot)com and the btc subreddit are active scams. Almost all altcoins (shitcoins) are marketed heavily with big promises but are really just designed to separate you from your bitcoin. So be careful: any resource, including all linked in this document, may in the future turn evil. Don't trust, verify. Also as they say in our community "Not your keys, not your coins".
Where can I spend bitcoins?
Check out spendabit or bitcoin directory for millions of merchant options. Also you can spend bitcoin anywhere visa is accepted with bitcoin debit cards such as the CashApp card. Some other useful site are listed below.
Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /BitcoinMining would be happy to help you out. If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. If you would prefer to keep it simple there are several good options. You can view the global node distribution here.
Just like any other form of money, you can also earn bitcoins by being paid to do a job.
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins.
The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
one bitcoin is equal to 100 million satoshis
1,000 per bitcoin
used as default unit in recent Electrum wallet releases
1,000,000 per bitcoin
colloquial "slang" term for microbitcoin (μBTC)
100,000,000 per bitcoin
smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $10000 for one Bitcoin, a $10 meal would equal:
For more information check out the Bitcoin units wiki. Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit. Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval. Welcome to the Bitcoin community and the new decentralized economy!
d down, k up, everybody's a game theorist, titcoin, build wiki on Cardano, (e-)voting, competitive marketing analysis, Goguen product update, Alexa likes Charles, David hates all, Adam in and bros in arms with the scientific counterparts of the major cryptocurrency groups, the latest AMA for all!
Decreasing d parameter Just signed the latest change management document, I was the last in the chain so I signed it today for changing the d parameter from 0.52 to 0.5. That means we are just about to cross the threshold here in a little bit for d to fall below 0.5 which means more than half of all the blocks will be made by the community and not the OBFT nodes. That's a major milestone and at this current rate of velocity it looks like d will decrement to zero around March so lots to do, lots to talk about. Product update, two days from now, we'll go ahead and talk about that but it crossed my desk today and I was really happy and excited about that and it seemed like yesterday that d was equal to one and people were complaining that we delayed it by an epoch and now we're almost at 50 percent. For those of you who want parameter-level changes, k-level changes, they are coming and there's an enormous internal conversation about it and we've written up a powerpoint presentation and a philosophy document about why things were designed the way that they're designed. Increasing k parameter and upcoming security video and everybody's a game theorist My chief scientist has put an enormous amount of time into this. Aggelos is very passionate about this particular topic and what I'm going to do is similar to the security video that I did where I did an hour and a half discussion about a best practice for security. I'm going to actually do a screencasted video where I talk about this philosophy document and I'm going to read the entire document with annotations with you guys and kind of talk through it. It might end up being quite a long video. It could be several hours long but I think it's really important to talk around the design philosophy of this. It's kind of funny, everybody, when they see a cryptographic paper or math paper, they tend to just say okay you guys figure that out. No one's an expert in cryptography or math and you don't really get strong opinions about it but game theory despite the fact that the topics as complex and in some cases more complex you tend to get a lot of opinions and everybody's a game theorist. So, there was enormous amount of thought that went into the design of the system, the parameters of system, everything from the reward functions to other things and it's very important that we explain that thought process in as detailed of a way as possible. At least the philosophy behind it then I feel that the community is in a really good position to start working on the change management. It is my position that I'd love to see k largely increased. I do think that the software needs some improvements to get there especially partial delegation delegation portfolios and some enhancements into the operation of staking especially. E-voting I'd love to see the existence of hybrid wallets where you have a cold part a hot part and we've had a lot of conversations about that and we will present some of the progress in that matter at the product updates. If not this October certainly in November. A lot of commercialization going along, a lot of things going on and flowing around and you know, commercial teams working hard. As I mentioned we have a lot of deals in the pipeline. The Wyoming event was half political, half sales. We were really looking into e-voting and we had very productive conversations along those lines. It is my goal that Cardano e-voting software is used in political primaries and my hope is for eventually to be used in municipal and state and eventually federal elections and then in national elections for countries like Ethiopia, Mongolia and other places. Now there is a long road, long, long road to get there and many little victories that have to begin but this event. Wyoming was kind of the opener into that conversation there were seven independent parties at the independent national convention and we had a chance to talk to the leadership of many of them. We will also engage in conversation with the libertarian party leadership as well and at the very least we could talk about e-voting and also blockchain-based voting for primaries that would be great start and we'll also look into the state of Wyoming for that as well. We'll you know, tell you guys about that in time. We've already gotten a lot of inquiries about e-voting software. We tend to get them along with the (Atala) Prism inquiries. It's actually quite easy to start conversations but there are a lot of security properties that are very important like end-to-end verifiability hybrid ballots where you have both a digital and a paper ballot delegation mechanics as well as privacy mechanics that are interesting on a case-by-case basis. Goguen, voting, future fund3, competitive marketing analysis of Ouroboros vs. EOS, Tezos, Algorand, ETH2 and Polkadot, new creative director We'll keep chipping away at that, a lot of Goguen stuff to talk about but I'm going to reserve all of that for two days from now for the product update. We're right in the middle, Goguen metadata was the very first part of it. We already have some commercialization platform as a result of metadata, more to come and then obviously lots of smart contract stuff to come. This update and the November update are going to be very Goguen focused and also a lot of alternatives as well. We're still on schedule for an HFC event in I think November or December. I can't remember but that's going to be carrying a lot of things related multisig token locking. There's some ledger rule changes so it has to be an HFC event and that opens up a lot of the windows for Goguen foundations as well as voting on chain so fund3 will benefit very heavily from that. We're right in the guts of Daedalus right now building the voting center, the identity center, QR-code work. All this stuff, it's a lot of stuff, you know, the cell phone app was released last week. Kind of an early beta, it'll go through a lot of rapid iterations every few weeks. We'll update it, google play is a great foundation to launch things on because it's so easy to push updates to people automatically so you can rapidly iterate and be very agile in that framework and you know we've already had 3500 people involved heavily in the innovation management platform ideascale and we've got numerous bids from everything. From John Buck and the sociocracy movement to others. A lot of people want to help us improve that and we're going to see steady and systematic growth there. We're still chipping away at product marketing. Liza (Horowitz) is doing a good job, meet with her two three-times a week and right now it's Ouroboros, Ouroboros, Ouroboros... We're doing competitive analysis of Ouroboros versus EOS, Tezos, Algorand, ETH2 and Polkadot. We think that's a good set. We think we have a really good way of explaining it. David (David Likes Crypto now at IOHK) has already made some great content. We're going to release that soon alongside some other content and we'll keep chipping away at that. We also just hired a creative director for IO Global. His name's Adam, incredibly experienced creative director, he's worked for Mercedes-Benz and dozens of other companies. He does very good work and he's been doing this for well over 20 years and so the very first set of things he's going to do is work with commercial and marketing on product marketing. In addition to building great content where hope is make that content as pretty as possible and we have Rod heavily involved in that as well to talk about distribution channels and see if we can amplify the distribution message and really get a lot of stuff done. Last thing to mention, oh yeah, iOS for catalyst. We're working on that, we submitted it to the apple store, the iOS store, but it takes a little longer to get approval for that than it does with google play but that's been submitted and it's whenever apple approves it or not. Takes a little longer for cryptocurrency stuff. Wiki shizzle and battle for crypto, make crypto articles on wiki great again, Alexa knows Charles, Everpedia meets Charles podcast, holy-grail land of Cardano, wiki on Cardano, titcoin Wikipedia... kind of rattled the cage a little bit. Through an intermediary we got contact with Jimmy Wales. Larry Sanger, the other co-founder also reached out to me and the everpedia guys reached out to me. Here's where we stand, we have an article, it has solidified, it's currently labeled as unreliable and you should not believe the things that are said in it which is David Gerard's work if you look at the edits. We will work with the community and try to get that article to a fair and balanced representation of Cardano and especially after the product marketing comes through. We clearly explain the product I think the Cardano article can be massively strengthened. I've told Rod to work with some specialized people to try to get that done but we are going to work very hard at a systematic approval campaign for all of the scientific articles related to blockchain technology in the cryptocurrency space. They're just terrible, if you go to the proof of work article, the proof of stake or all these things, they're just terrible. They're not well written, they're out of date and they don't reflect an adequate sampling of the science. I did talk to my chief scientist Aggelos and what we're gonna do is reach out to the scientific counterparts that most of the major cryptocurrency groups that are doing research and see if they want to work with us at an industry-wide effort to systematically improve the scientific articles in our industry so that there are a fair and balanced representation of what the current state of the art are, the criticisms, the trade-offs as well as the reference space and of course obviously we'll do quite well in that respect because we've done the science. We're the inheritor of it but it's a shame because when people search proof of stake on google usually wikipedia results are highly biased. We care about wikipedia because google cares about wikipedia, amazon cares about wikipedia. If you ask Alexa who is Charles Hoskinson, the reason why Alexa knows is because it's reading directly from the wikipedia page. If I didn't have a wikipedia page Alexa would know that so if somebody says Alexa what is Cardano it's going to read directly from the wikipedia page and you know and we can either just pretend that reality doesn't exist or we can accept it and we as a community working with partners in the broader cryptocurrency community can universally improve the quality of cryptocurrency pages. There's been a pattern of commercial censorship on wikipedia for cryptocurrencies in general since bitcoin itself. In fact I think the bitcoin article is actually taken down once back in, might have been, 2010 or 2009 but basically wikipedia has not been a friend of cryptocurrencies. That's why everpedia exists and actually their founders reached out to me and I talked to them over twitter through PMs and we agreed to actually do a podcast. I'm going to do a streamyard, stream with these guys and they'll come on talk all about everpedia and what they do and how they are and we'll kind of go through the challenges that they've encountered. How their platform works and so forth and obviously if they want to ever leave that terrible ecosystem EOS and come to the holy-grail land of Cardano we'd be there to help them out. At least they can tell the world how amazing their product is and also the challenges they're having to overcome. We've also been in great contact with Larry Sanger. He's going to do an internal seminar at some point with with us and talk about some protocols he's been developing since he left wikipedia specifically to decentralize knowledge management and have a truly decentralized encyclopedia. I'm really looking forward to that and I hope that presentation gives us some inspiration as an ecosystem of things we can do. That's a great piece of infrastructure regardless and after we learn a lot more about it and we talk to a lot of people in ecosystem. If we can't get people to move on over, it would be really good to see through ideascale in the innovation management platform for people to utilize the dc fund to build their own variant of wikipedia on Cardano. In the coming months there will certainly be funding available. If you guys are so passionate about this particular problem that you want to go solve it then I'd be happy to play Elon Musk with the hyperloop and write a white paper on a protocol design and really give a good first start and then you guys can go and try to commercialize that technology as Cardano native assets and Plutus smart contracts in addition to other pieces of technology that have to be brought in to make it practical. Right now we're just, let's talk to everybody phase, and we'll talk to the everpedia guys, we're going to talk to Larry and we're going to see whoever else is in this game and of course we have to accept the incumbency as it is. So, we're working with obviously the wikipedia side to improve the quality of not only our article but all of the articles and the scientific side of things so that there's a fair and accurate representation of information. One of the reasons why I'm so concerned about this is that I am very worried that Cardano projects will get commercially censored like we were commercially censored. So, yes we do have a page but it took five years to get there and we're a multi-billion dollar project with hundreds of thousands of people. If you guys are doing cutting-edge novel interesting stuff I don't want your experience to be the same as ours where you have to wait five years for your project to get a page even after government's adopted. That's absurd, no one should be censored ever. This is very well a fight for the entire ecosystem, the entire community, not just Cardano but all cryptocurrencies: bitcoin, ethereum and Cardano have all faced commercial censorship and article deletions during their tenure so I don't want you guys to go through that. I'm hoping we can prove that situation but you know you don't put all your eggs in one basket and frankly the time has come for wikipedia to be fully decentralized and liberated from a centralized organization and massively variable quality in the editor base. If legends of valor has a page but Cardano didn't have one until recently titcoin, a pornography coin from 2015, that's deprecated, no one uses it, has a page but Cardano couldn't get one there's something seriously wrong with the quality control mechanism and we need to improve that so it'll get done.
Been reading the works of a few monetary theorists and I've been wondering about how a few things would work. The printing of fiat currency by countries across the globe due to covid is in the view of monetary economics, a feature and not a bug. The ability to make money out of thin air is a powerful instrument that when used judiciously, i.e. ensuring the highest multiplier effect by making sure the currency is immediately spent and continues to be spent without adding to savings, can spur the economy without inflation. This is practically impossible as far as I understand with Bitcoin or any crypto currency with a cap on availability. And that is a positive for almost all other scenarios. In a scenario such as Covid, what kind of instruments/measures do you see being deployed in an economy that only has Bitcoin? Bonus points if the situation is such that the economy is in debt without reserves of bitcoin. Going further, how would debt and deficit work? If nations start maintaining reserves of bitcoin, e.g. to avert a crisis or to balance fiscal deficit, wouldn't that inflate the value of bitcoin available in circulation?
As far as I can tell people just seem to pick one of these after high school and run with it. What are some others? Corporate bossgirl Ultra hrd workr and needs everybody to know. Virtue signals on social media about the non profits she works for. 'Too busy for a relationship' (pathetic attempt to signal a supposedly high sexual market place value). A corporate feminist, so won't stop until the injustice of not having the ruling class composed of 50% women is rectified. Secretly having a mental breakdown because she wants kids but her independent bossgirl persona doesn't allow for it. Suburban mom Basically an airhead probably has no passion for anything outside of breeding, nesting, facebooking, aside from some facile political issue because it makes her indignant. Married to a provider cuck. Loves home renovation shows, talks incessantly. If she works, it's in some bullshit job. Most likely a Karen. Finance bro Actually finds stock markets and bitcoin interesting. Has wet dreams about being his own wolf of wall street. Ends up marrying some suburban social climber Kardashian bimbo. They attend events like racing carnivals because they wanted to have their photos taken in front of those corporate sponsorship backdrops like they saw on instagram. Probably does coke a lot. Chad Probably ends up a professional sports player. His WAG partner leaves him because his Chad status is somewhat over post-career. Will blow all his money most likely and end up in some shitty laboring job. The traveller Has seen others doing it on social media and wants to do it too. Firmly believes it will enrich their lives, even though they are living the same existence of unsatisfying work and consumption albeit in another country. Eventually returns to home country when they realize what am illusion it all was and settles into some boring suburban routine. Start up fags Think Steve Jobs and Warren Buffet and Mr Amazon are the greatest humans in the history of the world. Just wants to be CEO really. Will probably try and market some useless piece of shit product that nobody needs. Most likely libertarian. STEMfags Obnoxious personality from having their egos stroked throughout school and university, always told how smart they are. Honestly believe they are owed respect because they 'building the future'. Also probably libertarian/pedophile. Basic dad/family guy Bereft of passion, just went with the flow and does some job he can easily do. Has never questioned anything and doesn't even know if he's happy. Is satisfied by things like having a family, watching sports, buying gadgets and the other mundane suburban bullshit. Typical wageslave. Environmentally conscious couple/family Managed to convince themselves that all the 'green' shit they bought for their home is helping the environment instead of just being another capitalist mind game that kept them plugged into the system. Their idea of off-grid is just a new, smug form of consumerism. Social media wannabe Desperately wants to become famous on youtube/tik tok/instagram, probably doesn't realize how fake the whole thing is, or doesn't care because just wants the fame and easy money. Fitness retard The more pain the better- gym constantly, some ridiculous diet, all so they can feel less inferior. Most likely feels horrible all the time and doesn't actually know what they are doing to themselves. Authoritarian attitude, no patience for anybody who doesn't neurotically exercise like they do. Musician Obsessed with fame, fashionable, uninteresting, nothing really to express, spends a lot of time cultivating a persona or fussing over their social media presence. Is not going to make it and probably knows it.
The greatest wealth transfer of this century! An analysis: British-US-Chinese Empires: Gold, Silver, Bitcoin, Ethereum!
"Inflation makes you pay 50 dollars for the 20 dollar haircut you used to get for 5 dollars when you had hair!" Let's embark on a journey that made the United States the number 1 economy of the world.
1. Despite the British Empire's claim that it would for ever remain the leading empire,history can serve as a harbinger for what's to come...
At the peak of its power, in 1913, "the empire on which the sun never sets", controlled 25% of the planet's land mass and about the same percentage of the world's population. Britain was both the naval an imperial power of the 19th century, and between 1812-1914, its dominance resulted in relative peace in Europe and the rest of the world. The industrial revolution transformed Britain into the workshop of the world. By the start of the 20th century things changed as both Germany and the United States started to challenge Britain's economic and influential leadership. As often happened during human history such challenging lead to war and although Britain achieved its largest territorial influence after WW1, the war had destroyed much of its economic strength, with losses in industrial and military power marking the begin of its demise. During WW2, Japan occupied Britain's colonies, and after WW2, India, Britain's most valuable and populous possession, achieved independence. Much of the British Empire's influence is now enshrined in the Commonwealth Charter, stating shared values like democracy, human rights and the rule of law. The United Kingdom's pound sterling was its world's reserve currency during its reign and by controlling the supply of money, Britain was able to influence its global power. "Permit me to issue and control the money of a nation, and I care not who makes its laws!"Mayer Amschel Rothschild
2. The US Empire repeats this blueprint by claiming the U.S. Dollar's reserve currency status as its birthright!
The Federal Reserve Act. The Panic of 1907 triggered many American's belief that The Federal Reserve Act, passed by the 63rd United States Congress and signed into law by President Woodrow Wilson on December 23, 1913, was necessary for financial and economic stability. The law created the Federal Reserve System, the central banking system of the United States. The Bretton Woods System. The FED ended immobile reserve issues and the inelastic currency problems and successfully internationalized the U.S Dollar as the global reserve currency. The usage of the prior nationally used U.S. Dollar expanded a first time when the Allies agreed to the terms of the Bretton Woods System, establishing the rules for commercial as well as financial regulations among the United States and its allies. Canada, Western Europe, Australia and Japan accepted the U.S. Dollar, which was backed by a gold exchange standard, making the U.S. Dollar "as good as gold". This was only possible because the United States controlled two thirds of the world's gold reserves. Soviet representatives, who claimed that institutions like the IMF and the International Bank for Reconstruction and Development (IBRD) were Wall Street branches, didn't participate in Bretton Woods and later proved to be right, as the United States printed too much money (not backed by its gold reserves) to wage war on Vietnam, destroying a big part of the value of the U.S. Dollars held by its allies, due to the inflation of the U.S. Dollar money supply. Yet, the initial demand for U.S. dollars created the American way of life: a consumer driven economy fueled by products made outside the U.S. in return for U.S. Dollars. As the Allied countries couldn't really buy any "Made in America"-products, due to the fact that the United States' elites rather outsourced their manufacturing, they instead invested their hard labor into U.S. Treasuries. On August 1971, President Richard Nixon announced the unilateral cancellation of the direct international convertibility of the United States dollar to gold, in a response to halt the Allied countries' continuous attempts to exchange their U.S. Dollars for Gold. By 1973, the Bretton Woods system was replaced by the current freely floating fiat currency system. The petro dollar system. The second wave of U.S. Dollar adoption was the result of the petro dollar, making the global trade of oil U.S. Dollar denominated. Every country on this planet needed and still needs oil to operate and grow its economy, creating an enormous growth in U.S. Dollar demand and like mentioned before, those dollars had to be earned. Especially China served the United States consumer model by producing almost everything Americans can buy in Wall Mart and other stores. By relying on the U.S. Dollar reserve currency status, the American elites have made the mistake of outsourcing manufacturing to China, as often predicted by Donald Trump in the 1980's. The y figured it was easier to just print wealth. The tradewar. President Donald Trump, decided it was time to bring jobs back to the U.S. and started an ongoing trade war with China, the country that supplied the U.S. consumer driven economy, and proud owner of $1.07 trillion in Treasury holdings. The trade war has negatively impacted the economies of both the United States and China and will most likely result in the decoupling of both economies. What is to come? My personal insights. I see huge problems for the U.S. and the rest of the western liberal democracies. But especially the United States, who's currency amounts to no less than 60% of all the world's reserve assets, is vulnerable if and when China who only accounts for 1 or 2 %, says it is time for change. Most likely we will experience another banking crisis, with or without Covid-19, and unfortunately a bigger one when compared to the 2008 dissaster. Did you know that the global debt tripled since then? Many economists and politicians advocate the end of the U.S. Dollar reserve currency system and predict a reset. Every financial system has a limited lifespan similar to a human live: it is created, it grows, it matures, and unfortunately, it ages, weakens and dies. It happened to the Brittish Pound Sterling, and I am afraid that the days of this financial hegemony are numbered as well. And I did write "afraid", why? History tells us that these transition periods are particularly dangerous and have often led to full-blown military conflicts if not world wars. The current wealth transfer, the result of manufacturing outsourcing to mainland China, impoverished the United States and destroyed its middle class. President Donald Trump's analysis that the U.S. needs a strong manufacturing base is correct, yet without its allies the United States will not be able to turn the tide. It took China decades to build its manufacturing base, and President Trump doesn't have the privilege of having the political luxury to design five year plans, as the United States capitalistic and political model specializes more on presidential campaigning and less on economic planning, which is exactly China's strength.
3. The Chinese 'digital' empire.
China is ideally positioned to become the new global power: it produces many of our products and dominates most supply chains. It has been hoarding gold and mines most of the Bitcoin. It might just have the right reserve assets to back its DCEP, the digital Yuan, which will be pilot tested during the 2022 Winter Olympics hosted by China. Despite the fact that the United States and other western nations might not want to adopt the Yuan or allow it to be part of the world's reserve assets, China can demand payment in Yuan for its products. It's that simple! This is why outsourcing is such as stupid economic voluntarily yet fatal policy. If you only print money and don't produce goods, how long will the world play ball? One of the results of Trump's trade war is that China and other countries such as Russia and Iran no longer want to be vulnerable to U.S. sanctions that come in the shape of being denied access to the financial system through Swift. The United States can indeed destroy a big part of Iran's economy, but Iran is now becoming a big cryptocurrency player. In other words, bullying those countries might work in the short-term, but in the long-term they will simply adopt a new standard: and I believe that the Yuan will likely play a major role in the financial system they will adopt. This trend means that the expansion of the demand in U.S. Dollars will stop and reverse, when countries no longer want to use the currency whose issuer can economically destroy them through sanctions. The alternatives for such countires are cryptocurrencies like Bitcoin, Ethereum and many others, national CBDC's (Central Bank Digital Currencies), and the adoption of the digital Yuan. This digital Yuan will be attached to the One Belt, One road initiative, finding adoption whilst developing huge infrastructure projects that will lead to a Eurasian trading zone. If the U.S. Military leaves the Middle East, as Trump brings home troops, this will create the right conditions for China to emerge as the victor.
4. Surveillance Capitalism - Insights on the DCEP (Digital Currency Electronic Payment, DC/EP):
This centralized digital financial system works on blockchain and cryptographic principles and aims to increase the circulation of the RMB, in the hope it can become a reserve currency like the U.S. Dollar.
Created and sanctioned by the Chinese Government, it is the only legal digital currency in China.
The system offers Chinese regulators better monitoring abilities and will be an efficient tool against anonymous counterfeiting, money laundering and illegal financing. At the same time it reduces costs involved in maintaining and recycling bank notes and coins.
As mentioned above, China aims to bypass Swift, which it regards to be a U.S. entity, and will be able to collect real-time data related to money creation, bookkeeping, essential information for the implementation of monetary policies.
The pilot institutions for DCEP, China Construction Bank, Agricultural Bank of China, Bank of China and Industrial and Commercial Bank of China, will serve as a production test for China's new currency system, after which the DCEP will be distributed to large fintech companies such as Tencent and Alibaba to be used in WeChat Pay and AliPay. Transfers will not go through bank accounts, but through electronic wallets.
By mandating that all merchants who accept digital payments must accept DCEP, the DECP will become the most accepted digital currency in the world.
5. Sings of hope.
If the United States adopts blockchain and issues a CBDC (Central Bank Digital Currency) backed by Bitcoin, they will have a reasonable chance to offer the western democracies a new type of dollar standard that can be an anchor versus the coming RMB. If not, I fear the worst is yet to come for the U.S. Dollar and its economy. Many smart American economists and Wall Street goeroe's have finally figured out the remarkable strength of Bitcoin, the world's first and most favorite digital form of gold. Some of the smartest investment capitalists like Ray Dalio and Warren Buffet have allocated more money into gold, a clear sign of trouble. Bitcoin might be a step too far for Warren Buffet, but rest assure that Wall Street investment management companies have figured it out by now, have you? You can expect more institutions to allocate a % of their portfolio's wealth into Bitcoin and other cryptocurrencies, as a hedge against the systemic risk in our global financial system, which will inevitable start feeling the effects of the trillions that have been printed. "Inflation makes you pay 50 dollars for the 20 dollar haircut you used to get for 5 dollars when you had hair!"
Ok, let me keep it short. It is adoption and only adoption that can move Nano. Thankfully we are ready in terms of technology. So let's
Create a presentation highlighting Nano VS BTC (& others) and why Nano is perfect as a digital currency and start reaching out to companies via email to consider them to accept Nano as a payment. Steam, Twitch, Various eCommerce companies
This presentation has to be very intuitive and show why we stand out in the crowd BTC clones and DeFi scams. Technical points, demos, reactions of people in the industry (like Charlie Lee etc.)
Get some of the influential people involved, remember Kevin Rose, Gary Tan? Let's reach out to them and see if they can help with this initiative.
Let us create a private group in discord where people who can help be involved and report to each other and measure the success. It Will be amazing to have one of the official community managers of Nano be involved or even mods of this group are involved. If we can announce one or two new companies that have never accepted crypto, in general, to accept Nano, to begin with, we will have industry breaking news to announce every time we succeed. After all, we have things most crypto communities don't - confidence in the tech and a sane & loyal community. Edit : This is what I have in mind
Create a website, something like nanocommunity dot whatever
Clearly mention that this is by Nano community who believe Nano is the digital currency for the future and is not affiliated to Nano Foundation
Create presentation material with the following points
What is Nano
How is it different from Bitcoin
Why they should consider Nano
a) Tech, Green, Fast, etc b) Strong Community (Highlighting numbers like most active/Community Projects) c) Continued Development (Highlighting consistent development in an infographic, future roadmap, linking to github) 4) How can they integrate it easily and start accepting Nano Maybe the big ones won't accept right away, but if a few Shopify websites start accepting, it becomes news, its an organic attempt by the community, not the fake partnership announcements where founders pay for some PR buzz and nothing happens. If we can consistently deliver on this, it could get serious eyeballs. Also, I think its important to reach out to influential people. The ones i mentioned were super interested back in 2017. We can divide the workload, like creating presentations, prospecting, and doing emails, by country and by industry, etc. Edit 2: Creating a website like thenanocommunity.org focussed around the community initiatives for adoption, maybe a forum? Will that make sense? Where people can share ideas and progress on what they did to spread the word. Even if it is something like I made my uncle start to accept accepting Nano on his autos part website, it would be good news to share and it could just snowball from there. Edit 3 : Ok, so went ahead and bought the domain thenanocommunity.org with an email [[email protected]](mailto:[email protected]) I can also get a forum software installed and get it up on a hosting (digital ocean?). I will share the credentials of the domain and hosting with 5 other reputable members who are interested. I don't know if it will have any impact, but if it can do even a little, I will be glad. I am still not 100% sure, and will wait for others to weigh in a bit as well, worst case this domain just expires.
I've been sharing conspiracies on reddit longer than this sub has been around. I have a story to tell.
This story is mostly crafted from my own experiences, my conversations with some of the people involved, and the rest is my own guesswork as I try to fill in the gaps...so bear with me! That's why I wanted to share with this community, which I've watched grow over the years. I remember posting about the death of Barry Jennings (who witnessed explosions in the WTC on 9/11) the day after it happened. This was before /conspiracy (or right around when it was formed), and I remember thinking "we really need a sub for conspiracies on reddit!" And here we are, 12 years later and over 1.3 million subscribers...incredible! So... My story starts with a young man. We'll call him Andrew. Andrew grew up in the 90's in a coastal US town and quickly blossomed into a tech whiz at a young age. He began building his own computers, and after a brief stint using Windows, he decided that Bill Gates was everything wrong with technology (and the world), and he made it his mission to make sure folks like Gates were NOT the future of computers. He really believed that the use of technology was a fundamental human right, and that charging people for "proprietary" OS's that hid their source code was a violation of these rights. He saw a possible Deus Ex-like future, with a technocracy literally around the corner if we didn't act now. Andrew soon joined the Free Software Foundation and began rubbing elbows with the likes of Richard Stallman. He begun exclusively using GNU/Linux and was the type to correct you if you called it just "Linux". He also began visiting tech-savvy forums like slashdot and started networking in earnest. By 2006 (his senior year of high school) Andrew was completely over his "education" and decided to just drop out completely. Shockingly, a college accepted him anyway. A small East Coast school had been actively courting Andrew, and when they learned he had failed to get his HS diploma, they accepted him anyway! Now sometime during this period Andrew went to Iceland and stayed in Reykjavik for several months. This trip may have happened during the summer, fall, or early winter of 2006. The reason for his trip had something to do with his efforts in the FSF or similar group. The possible significance of this trip will become clear as we go on. What is clear is that Andrew started college in the fall of 2006, and that the circumstances were unusual. Andrew soon met several like-minded individuals and began building a social and technological network at his school. Two individuals in particular would become key players in his life (one more prominently in this story, but the other was significant as well), and eventually the 3 would live together in town for several years. But for now let's stick with Andrew. Andrew had an idea to build a social network for his college. Except, it wasn't just a network, it was a wiki for information about the school...and beyond. Soon, it began to morph into something much bigger in Andrew's mind. He saw his project as being one of many data "hubs" for leaks of important documents and otherwise sensitive information. So yeah, he saw the opportunity for a wiki for leaks (see where this is going yet...?). As his ambitions grew, his behavior started to become increasingly erratic. He was caught with drugs and arrested. Strangely, the charges were pretty much dropped and he was given a slap on the wrist. Eventually he decided to leave the school, but still lived in town and had access to the servers on campus. By 2010 Andrew was still living in the small town with his two "hacker" buddies, who were still enrolled at the school. This house was in some ways legendary. It appears that many "interesting" people spent time at or visited the residence. Indeed, some of the early movers and shakers of /conspiracy itself passed through. There was usually a full NO2 tank for anyone who was into that kinda thing, and they were stocked with every hallucinogen and research chemical known to man. It was also likely under surveillance by multiple intelligence agencies (NSA/Mossad/etc). Over time, the mental state of Andrew was slowly starting to deteriorate, which wasn't helped by his abuse of drugs. Still, Andrew decided to move his base of operations to Europe, spending time in Belgium, the Czech Republic and elsewhere. One of his housemates was soon to join him on his adventures in Europe and elsewhere abroad. We'll call him "Aaron." Aaron had a very similar story and upbringing as Andrew. Aaron was also from a coastal US town and was born into privilege. He was also, supposedly, born into a family with some serious connections to intelligence agencies, including an uncle with ties to the NSA, and both parents connected to military brass. By 2015, Andrew and Aaron were living together in the Czech Republic. During this time they were working directly and/or indirectly for the NSA (via Cisco and other companies). You see, the "college" they met at was actually a front for the recruitment of kids into the IC. Apparently, many "schools" in the US function that way. Go figure. Their intelligence and valuable skill set (hacking etc) made them valuable assets. They were also possibly involved with the distribution of certain "research chemicals" (of the 2C* variety) to dignitaries and their entourages (in one example, they provided 2CB to a group with David Cameron). In addition, Andrew was allegedly involved with, or stumbled upon, an NSA-linked surveillance project directed at the entire country of Malaysia, while Aaron was involved with Cisco. Aaron himself had gotten into hot water for releasing damaging information about the NSA, and even claimed to be an NSA whistleblower, and was also possibly the individual who leaked the 2014 (or 2015) Bilderberg meeting list. And then things went bad. Andrew quit the Malaysia project and Aaron left Cisco. It seems Andrew and Aaron were "set up" during a fiery false flag event in the Czech Republic in 2015. It may have happened at an embassy, but it's unclear which. There is no information on the web about anything like this (afaik). Aaron was immediately targeted and spent several years on the run. Allegedly, he was added to the list of victims in the so-called "Great Game". The Great Game is the term used for an international assassination program where intelligence agencies share a list of targets to be neutralized. The German BND and Mossad are heavily involved, as other networks. Individuals targeted by the Great Game may be offed by actual assassins, or by NPC-like humans whose minds will be influenced by mind control tech (a la Matrix...say influencing someone to ram your car unwittingly ie). As Aaron went on the lam, Andrew soon returned to the US, shell-shocked by his experience. Both Andrew and Aaron continue to suffer from some sort of PTSD from these series of events, rendering Andrew largely incapacitated and Aaron scattered and discombobulated. The Meat of the Matter OK...where does that leave us? Why am I sharing all of this? I think there's much more to this story. So let's start speculating! Everything I'm about to say is stuff that was told to me personally. I can't vouch for any of this information, though obviously I thought it was compelling enough to share. Here's the gist: The so-called whistleblowers you see in the media are almost all fake. This includes: Edward Snowden, Julian Assange, Thomas Drake and William Binney (hey look, his AMA is pinned on this sub right now...no comment!). These individuals, and others, are controlled opposition. The real whistleblowers are severely punished. For example, Bradley Manning was punished with chemical castration in jail. His "transformation" was chemically induced torture. Andrew was not alone in his passion. There were lots of other young visionaries like him who dreamed of a freer and more transparent world. In this story, Julian Assange was an intelligence asset...a psyop meant to steal the thunder from real activists like Andrew. In this story, a small college-based "wiki" for government leaks was used as the model for an intelligence operation known as "wikileaks". In this story, Andrew traveled to Iceland at some point in 2006. When was Wikileaks founded? Wikileaks was founded by Julian Assange in December 2006, in Iceland. Aaron discovered (legally, like Manning who had clearance to access all the data he leaked) damning information about surveillance happening by the NSA, specifically against recruits entering the US army and elsewhere. In this story, the "Andrew" identity was co-opted and turned into "Julian Assange", and "Aaron" became "Edward Snowden". Granted, there were probably other people that these whistleblower imposters were modeled after, but Andrew and Aaron seem like very strong contenders for some of this inspiration. Now, much of the following may be gobbledygook (lol I spelled that right first try!) for all I know, but since I'm having a really hard time making sense of it all, I'll just include everything I can and let you guys run with it. Here are some phrases, ideas, terms and people of note that may be involved with this story...MODS: None of this is doxing! All of the links of people are wikipedia pages or published interviews/articles. So yeah. Not dox!
Rootkit: These are currency and the weapons of the intelligence agencies that allow access to any computer or OS on the planet.
"schizo-affective disorder" doesn't exist, it's cover for EM warfare. For those they can't attack chemically (like Manning), they punish via EM. This technology has been used for decades. Both Andrew and Aaron were likely subjected to this punishment after they stopped playing ball. It likely continues for them both as well.
IN CONCLUSION I don't know how these terms, theories and individuals fit into this story, but that they may be somehow related. Hopefully there are enough bread crumbs in here to keep some of you busy! Any help/insight would be appreciated. I confess I'm not so tech-minded so I can't offer any more explanation about some of the more techy terms. Anyway, thanks for reading, and thanks for continuing to stimulate after all these years! It's really nice to see this place continuing to thrive after all of this time!
Countries That Say No to Bitcoin . While Bitcoin is welcomed in many parts of the world, a few countries are wary because of its volatility, decentralized nature, perceived threat to current ... Bitcoin Cloud Mining in 2020 Platform - Profitable? Scam? Discover now! Bitcoin Live App. Bitcoin; News; As Countries Start to Spiral Into Monetary Crisis, Will the World Ultimately Turn to Bitcoin? By. Christopher Haruna Hamman - July 4, 2020. 659. Share. Twitter. ReddIt. Telegram. WhatsApp. Advertisement In the past week, several countries’ fiat currencies have spiraled out of control. Specifically, the Lebanese Pound and the Argentinian Peso have both faced a massive drop in ... We have made a list of the countries that have the most Bitcoin HODLers: The United States. Momentarily, the United States are home to most of crypto endeavors and activities, with a large number of exchanges, trading platforms, funds, crypto mining facilities, and blockchain-oriented projects. Because of this, most would consider it normal for this country to have the largest number of ... 11 Countries Where Bitcoin is a Crime. Bitcoin is not only the world’s first cryptocurrency, it is also the first borderless and apolitical form of money in the history of mankind. It is the next step in the evolution of money technology that’s rapidly developing in lockstep with an increasingly interconnected world. Bitcoin nodes are distributed all over the world, forming a decentralized ...
How To Trade Bitcoin Cryptocurrency for Beginners - YouTube
Start trading Bitcoin and cryptocurrency here: http://bit.ly/2Vptr2X Bitcoin is the first decentralized digital currency. All Bitcoin transactions are docume... Here is the list of #Countriesthatarelookingtoacceptbitcoin. Although it has not been accepted by all countries, a majority of countries have fully or partia... The next video is starting stop. Loading... Watch Queue Queue. __count__/__total__ ... Slovenia - The Crypto Country Bitcoin.com Documentary - Duration: 6:09. Bitcoin.com - Official Channel ... Get an additional $10 in Bitcoins from Coinbase when purchasing through my referral link http://fredyen.com/get/Bitcoins Here is a quick beginner's guide on ... 5:18 Transfer bitcoins from the exchange to your bitcoin wallet 5:33 Step 2 - learn more about bitcoins 6:18 The Bitcoin Standard book by Saifedean Ammous 7:13 Bitcoin YouTube videos 7:38 Bitcoin ...