+ Reply to Thread
Page 2 of 5 FirstFirst 1 2 5 LastLast
Results 21 to 40 of 95

Thread: Will the Banksters Embrace, Extend, and Extinguish Cryptocurrencies?

  1. Link to Post #21
    United States Administrator ThePythonicCow's Avatar
    Join Date
    4th January 2011
    Location
    North Texas
    Language
    English
    Age
    76
    Posts
    28,582
    Thanks
    30,501
    Thanked 138,438 times in 21,490 posts

    Default Re: Will the Banksters Embrace, Extend, and Extinguish Cryptocurrencies?

    Quote Posted by ThePythonicCow (here)
    In my reasonably well informed opinion ... the core blockchain and hashgraph algorithms are substantially more resistant to deep state manipulation than traditional banking and financial mechanisms.
    There is a foundational concept here, that I almost missed.

    Cryptocurrencies can bring solid money back, and do so on the Web.

    The foundational advantage of classic gold and silver coinage was that no one, not even kings, could cheat massively, quickly, and easily. Sure, over decades, they could shave coins and dilute the gold and silver with cheaper bronze and tin. But this involved a fair bit of time and effort, for only a small multiple of gain.

    Once the Banksters got us to money that:
    1. was whatever the programs on their computer said, and
    2. no longer backed by (routinely interchangeable with) anything that the ordinary man could audit,
    then they could build their Babylonian towers of debt-money derivatives to (their) heavens (of extreme wealth over humanity).

    A key element of such a corrupt monetary system is the entanglement of
    1. the means and units of payment and accounting, with
    2. the instruments of lending and securitization, at all levels, individual, corporate and government.
    Thus could the use of money in conducting transactions become entangled with the use of money to fund and structure debts and securities, which, by my above comments we see becomes the use of money to magnify itself many times, orders of magnitude, as debts become assets which support more debts, onward and upward, in a vicious circle.

    A key advantage of Bitcoin is that it cannot leverage itself up this way in supply, to become a million or a billion times more abundant, covertly, in the hands of the inner circle of the Evil Elite Bastards.

    Bitcoin is designed to be a global system, that the globalists cannot corrupt to build another such Babylonian Tower of Basil.

    The math of Bitcoin, like the physical properties of gold, protects it from unbounded corruption by even the most powerful of humans.

    An global civilization needs an honest global money that is fundamentally protected, by its very nature, from unbounded corruption. Such was gold, in some centuries past, and such is Bitcoin, in the century we are entering. Gold worked when business was conducted face to face, hand to hand, and Bitcoin works when business may be conducted over the Internet.

    We can and we must keep the failing Masters of Debt Money, aka the Banksters, from co-opting cryptocurrencies into little more than a more convenient form of online funding, tracking, and controlling of fiat (aka debt-money) denominated transactions.
    My quite dormant website: pauljackson.us

  2. The Following 6 Users Say Thank You to ThePythonicCow For This Post:

    Ankle Biter (7th November 2021), Franny (3rd November 2021), gord (2nd November 2021), iota (6th November 2021), mojo (4th November 2021), Vangelo (2nd November 2021)

  3. Link to Post #22
    United States Administrator ThePythonicCow's Avatar
    Join Date
    4th January 2011
    Location
    North Texas
    Language
    English
    Age
    76
    Posts
    28,582
    Thanks
    30,501
    Thanked 138,438 times in 21,490 posts

    Default Re: Will the Banksters Embrace, Extend, and Extinguish Cryptocurrencies?

    Quote Posted by WhiteFeather (here)
    Welcome Back Paul, Excellent thread, i had just noticed your back on the forum, is this recent? I haven't been on the forum as much of late.
    Fairly recent - last few months I guess.
    My quite dormant website: pauljackson.us

  4. The Following 2 Users Say Thank You to ThePythonicCow For This Post:

    Franny (3rd November 2021), iota (6th November 2021)

  5. Link to Post #23
    Bulgaria Avalon Member
    Join Date
    19th October 2021
    Language
    English
    Age
    55
    Posts
    77
    Thanks
    28
    Thanked 324 times in 69 posts

    Default Re: Will the Banksters Embrace, Extend, and Extinguish Cryptocurrencies?

    Quote Posted by ThePythonicCow (here)
    Quote Posted by ThePythonicCow (here)
    In my reasonably well informed opinion ... the core blockchain and hashgraph algorithms are substantially more resistant to deep state manipulation than traditional banking and financial mechanisms.
    There is a foundational concept here, that I almost missed.

    Cryptocurrencies can bring solid money back, and do so on the Web.

    The foundational advantage of classic gold and silver coinage was that no one, not even kings, could cheat massively, quickly, and easily. Sure, over decades, they could shave coins and dilute the gold and silver with cheaper bronze and tin. But this involved a fair bit of time and effort, for only a small multiple of gain.

    Once the Banksters got us to money that:
    1. was whatever the programs on their computer said, and
    2. no longer backed by (routinely interchangeable with) anything that the ordinary man could audit,
    then they could build their Babylonian towers of debt-money derivatives to (their) heavens (of extreme wealth over humanity).

    A key element of such a corrupt monetary system is the entanglement of
    1. the means and units of payment and accounting, with
    2. the instruments of lending and securitization, at all levels, individual, corporate and government.
    Thus could the use of money in conducting transactions become entangled with the use of money to fund and structure debts and securities, which, by my above comments we see becomes the use of money to magnify itself many times, orders of magnitude, as debts become assets which support more debts, onward and upward, in a vicious circle.

    A key advantage of Bitcoin is that it cannot leverage itself up this way in supply, to become a million or a billion times more abundant, covertly, in the hands of the inner circle of the Evil Elite Bastards.

    Bitcoin is designed to be a global system, that the globalists cannot corrupt to build another such Babylonian Tower of Basil.

    The math of Bitcoin, like the physical properties of gold, protects it from unbounded corruption by even the most powerful of humans.

    An global civilization needs an honest global money that is fundamentally protected, by its very nature, from unbounded corruption. Such was gold, in some centuries past, and such is Bitcoin, in the century we are entering. Gold worked when business was conducted face to face, hand to hand, and Bitcoin works when business may be conducted over the Internet.

    We can and we must keep the failing Masters of Debt Money, aka the Banksters, from co-opting cryptocurrencies into little more than a more convenient form of online funding, tracking, and controlling of fiat (aka debt-money) denominated transactions.
    just to throw it out there ... BTC is not Bitcoin ...

  6. Link to Post #24
    United States Administrator ThePythonicCow's Avatar
    Join Date
    4th January 2011
    Location
    North Texas
    Language
    English
    Age
    76
    Posts
    28,582
    Thanks
    30,501
    Thanked 138,438 times in 21,490 posts

    Default Re: Will the Banksters Embrace, Extend, and Extinguish Cryptocurrencies?

    Quote Posted by ThePythonicCow (here)
    Once the Banksters got us to money that:
    1. was whatever the programs on their computer said, and
    2. no longer backed by (routinely interchangeable with) anything that the ordinary man could audit,
    then they could build their Babylonian towers of debt-money derivatives to (their) heavens (of extreme wealth over humanity).
    Note that this confluence of events could only have happened in the last century, and likely can not continue to happen in this way.

    Up until petroleum, such as from the Middle East, became the dominant source of energy, most trade was local or regional. Not all trade, but at least a substantial portion of it, was such. The delivery of petro around the world, and the delivery then of raw materials and manufactured goods around the world, using diesel powered steel hull boats, while still constrained to using main frame computers that were independent corporate assets shifted a substantial portion of all monetary activity on the planet to big computers owned by various corporations and governments, each with other agendas. Even the "last mile" of payment activity was moved to the computers of the "Big Boys", using plastic (credit and debit cards) and now mobile phone apps.

    That violated a fundamental principle of good system design: Keep each major function working independently, at "arms length" from each other function.

    One easily sees this with local services such as sewage, water, garbage, electricity, phone and internet, in working communities. If I get in trouble with the phone company for not paying my bill, the water still runs fine from my tap. If my politics disagrees with the politics of the garbage truck driver, he still picks up my garbage just fine. If my car is repossessed for falling behind on car payments, the USPS/UPS/Fedex/Amazon package and mail deliveries still come to my mailbox or door step just fine, which is good, as I can't drive to the store so easily anymore.

    For the last century, and only for the last century, this independence broke down for the creation of money in our civilization.

    Almost all money in this period has been lent into existence by banking institutions, and the other half of those loans, the "debt paper" was not managed by a system primarily focused on safe, sensible, financially responsible management of that debt paper, but rather on the abuse of that source of almost infinitely expandable wealth, by those who had gained control of the banking (e.g. Rothschilds) and petroleum (e.g. Rockefellers) businesses to impose their other insatiable and often Satanic appetites on the rest of us.

    ===

    This now seems to me to be good news, for it is now changing, for the better.

    For now that we have sufficient compute power in most everyone's hand or on their desk, there is an opening for a monetary system that reverts to classical system design principles, of keeping major subsystems independent and focused on doing their one job the way it ought to be done.

    We've already seen this, in our lifetime, with the transport of TCP/IP Internet packets around the planet. Higher level software, such as runs on Twitter or Youtube servers or in web browsers in China, might discard messages because they express the wrong "political" views. But the underlying router and networking hardware comes pretty close to doing what it was designed to do - moving the IP packets around to where they are addressed, regardless of what the data in side the packet might mean in a higher context.

    We now need to, and I predict will, get our foundational infrastructure for moving, storing, lending and such monetary tokens around our planet, over the existing TCP/IP networking structure, up and running as the dominant means of moving money about, large and small, regardless of the race, creed, color, politics, motives or morals of the parties (humans or robots) directing the movements.

    Cryptocurrencies will have one job: be good currencies.

    There may well be many people, middle aged and older, who are already thoroughly entwined in the debt-money system of this last century, who go to their grave never figuring this out. This is a big change. It will take years, even a few decades, to play out. Major governments, political parties, businesses, and professions will never be the same again.

    Money that is issued as debt, so that it's "other half", the debt paper can be used to build a Babylonian Tower of Debt-Money Derivatives,is being replaced with money issued on blockchains and other such distributed ledgers, which will have simple, hard limits on borrowing and lending built in, making such towers of debt money securities, derivatives and other fraud practically impossible.

    We will have honest money again.

    The Babylonian Tower of Debt-Money Derivatives has begun its collapse.

    As might have been expected, it only lasted for about one century, while energy, shipping and manufacturing were global, but money was centrally controlled debt-money causing a near fatal cancer on our civilization.
    Last edited by ThePythonicCow; 2nd November 2021 at 08:42.
    My quite dormant website: pauljackson.us

  7. The Following 7 Users Say Thank You to ThePythonicCow For This Post:

    Ankle Biter (7th November 2021), Franny (3rd November 2021), gord (2nd November 2021), iota (6th November 2021), mojo (4th November 2021), Vangelo (2nd November 2021), Vicus (2nd November 2021)

  8. Link to Post #25
    United States Avalon Member Vangelo's Avatar
    Join Date
    24th January 2011
    Location
    Massachusetts
    Posts
    586
    Thanks
    11,264
    Thanked 4,564 times in 567 posts

    Default Re: Will the Banksters Embrace, Extend, and Extinguish Cryptocurrencies?

    Quote Posted by mozo33 (here)

    just to throw it out there ... BTC is not Bitcoin ...

    HUH?

    BTC is the 'ticker' symbol for Bitcoin. Bitcoin is both the token (i.e. identifier of the unit of value) and the blockchain.
    Happiness comes from within, nowhere else.

  9. The Following 2 Users Say Thank You to Vangelo For This Post:

    Franny (3rd November 2021), mojo (4th November 2021)

  10. Link to Post #26
    United States Avalon Member Vangelo's Avatar
    Join Date
    24th January 2011
    Location
    Massachusetts
    Posts
    586
    Thanks
    11,264
    Thanked 4,564 times in 567 posts

    Default Re: Will the Banksters Embrace, Extend, and Extinguish Cryptocurrencies?

    Quote Posted by ThePythonicCow (here)
    Quote Posted by ThePythonicCow (here)
    Once the Banksters got us to money that:
    1. was whatever the programs on their computer said, and
    2. no longer backed by (routinely interchangeable with) anything that the ordinary man could audit,
    then they could build their Babylonian towers of debt-money derivatives to (their) heavens (of extreme wealth over humanity).
    Note that this confluence of events could only have happened in the last century, and likely can not continue to happen in this way.


    << sections deleted to conserve space >>


    Cryptocurrencies will have one job: be good currencies.

    There may well be many people, middle aged and older, who are already thoroughly entwined in the debt-money system of this last century, who go to their grave never figuring this out. This is a big change. It will take years, even a few decades, to play out. Major governments, political parties, businesses, and professions will never be the same again.

    Money that is issued as debt, so that it's "other half", the debt paper can be used to build a Babylonian Tower of Debt-Money Derivatives,is being replaced with money issued on blockchains and other such distributed ledgers, which will have simple, hard limits on borrowing and lending built in, making such towers of debt money securities, derivatives and other fraud practically impossible.

    We will have honest money again.

    The Babylonian Tower of Debt-Money Derivatives has begun its collapse.

    As might have been expected, it only lasted for about one century, while energy, shipping and manufacturing were global, but money was centrally controlled debt-money causing a near fatal cancer on our civilization.

    Another great post, thank you.

    I agree that this distributed ledger technology gives us the infrastructure we need to have real money again. I too am hopeful but I am also a little paranoid that we haven't yet reached that point of no-return i.e. the point where governments can't effectively ban it. It is true that we have many examples where nations states have tried and failed multiple times (i.e Nigeria and India). They failed because their populations simply continued to use crypto by working around the government regulations. I suspect the same is happening in China.

    Some people argue that we have reached the tipping point because of El Salvador's adoption. Others argue we still need more institution adoption before it is 'too late' for governments to pull the plug on us. What is your opinion?

    I guess I won't feel comfortable until a major government implements favorable laws and regulations that are unambiguous. Even still, I am a strong supporter of crypto and recommend owning a select few to family and friends.
    Happiness comes from within, nowhere else.

  11. The Following 5 Users Say Thank You to Vangelo For This Post:

    Ankle Biter (7th November 2021), Franny (3rd November 2021), iota (6th November 2021), mojo (4th November 2021), ThePythonicCow (2nd November 2021)

  12. Link to Post #27
    United States Avalon Member Vangelo's Avatar
    Join Date
    24th January 2011
    Location
    Massachusetts
    Posts
    586
    Thanks
    11,264
    Thanked 4,564 times in 567 posts

    Default Re: Will the Banksters Embrace, Extend, and Extinguish Cryptocurrencies?

    Quote Posted by ThePythonicCow (here)
    Quote Posted by ThePythonicCow (here)
    Once the Banksters got us to money that:
    1. was whatever the programs on their computer said, and
    2. no longer backed by (routinely interchangeable with) anything that the ordinary man could audit,
    then they could build their Babylonian towers of debt-money derivatives to (their) heavens (of extreme wealth over humanity).
    Note that this confluence of events could only have happened in the last century, and likely can not continue to happen in this way.

    Up until petroleum, such as from the Middle East, became the dominant source of energy, most trade was local or regional. Not all trade, but at least a substantial portion of it, was such. The delivery of petro around the world, and the delivery then of raw materials and manufactured goods around the world, using diesel powered steel hull boats, while still constrained to using main frame computers that were independent corporate assets shifted a substantial portion of all monetary activity on the planet to big computers owned by various corporations and governments, each with other agendas. Even the "last mile" of payment activity was moved to the computers of the "Big Boys", using plastic (credit and debit cards) and now mobile phone apps.

    That violated a fundamental principle of good system design: Keep each major function working independently, at "arms length" from each other function.

    One easily sees this with local services such as sewage, water, garbage, electricity, phone and internet, in working communities. If I get in trouble with the phone company for not paying my bill, the water still runs fine from my tap. If my politics disagrees with the politics of the garbage truck driver, he still picks up my garbage just fine. If my car is repossessed for falling behind on car payments, the USPS/UPS/Fedex/Amazon package and mail deliveries still come to my mailbox or door step just fine, which is good, as I can't drive to the store so easily anymore.


    << Sections deleted to conserve space >>
    As mentioned previously, any technology can be used for good or for bad. The quote above which describes exactly what China is doing with their CBDC implementation. They are integrating it with their social scoring system and will then punish and enforce compliance on their citizens via the monetary system i.e. the Chinese CBDC or Digital Yuan.

    My concern is that people will equate the potential benefits of blockchain with CBDCs i.e. CBDC bad therefore blockchain and crypto must also be bad.

    Comments?
    Happiness comes from within, nowhere else.

  13. The Following User Says Thank You to Vangelo For This Post:

    mojo (4th November 2021)

  14. Link to Post #28
    Bulgaria Avalon Member
    Join Date
    19th October 2021
    Language
    English
    Age
    55
    Posts
    77
    Thanks
    28
    Thanked 324 times in 69 posts

    Default Re: Will the Banksters Embrace, Extend, and Extinguish Cryptocurrencies?

    Quote Posted by Vangelo (here)
    Quote Posted by mozo33 (here)

    just to throw it out there ... BTC is not Bitcoin ...

    HUH?

    BTC is the 'ticker' symbol for Bitcoin. Bitcoin is both the token (i.e. identifier of the unit of value) and the blockchain.
    BTC is a fork off Bitcoin as is BCH ... both do not comply with the Bitcoin white paper, and why it is you have BSV as in Bitcoin Satoshi Vision ....

  15. The Following User Says Thank You to mozo33 For This Post:

    Mypos (3rd November 2021)

  16. Link to Post #29
    Bulgaria Avalon Member
    Join Date
    19th October 2021
    Language
    English
    Age
    55
    Posts
    77
    Thanks
    28
    Thanked 324 times in 69 posts

    Default Re: Will the Banksters Embrace, Extend, and Extinguish Cryptocurrencies?

    just to throw it out there ...

    70% of BTC is denominated in Tether and only 8% in USD ...

  17. Link to Post #30
    Avalon Member gord's Avatar
    Join Date
    13th October 2015
    Location
    The Vampire State
    Language
    English
    Age
    61
    Posts
    694
    Thanks
    14,972
    Thanked 4,605 times in 673 posts

    Default Re: Will the Banksters Embrace, Extend, and Extinguish Cryptocurrencies?

    Quote Posted by Vangelo (here)
    Quote Posted by mozo33 (here)

    just to throw it out there ... BTC is not Bitcoin ...

    HUH?

    BTC is the 'ticker' symbol for Bitcoin. Bitcoin is both the token (i.e. identifier of the unit of value) and the blockchain.
    I suspect it may be a reference to something like the content of this page: https://thatsbtcnotbitcoin.com/, but that's not really the topic of the thread.
    The only place a perfect right angle ever CAN be, is the mind.

  18. The Following 2 Users Say Thank You to gord For This Post:

    Mypos (3rd November 2021), ThePythonicCow (2nd November 2021)

  19. Link to Post #31
    United States Administrator ThePythonicCow's Avatar
    Join Date
    4th January 2011
    Location
    North Texas
    Language
    English
    Age
    76
    Posts
    28,582
    Thanks
    30,501
    Thanked 138,438 times in 21,490 posts

    Default Re: Will the Banksters Embrace, Extend, and Extinguish Cryptocurrencies?

    Quote Posted by Vangelo (here)
    As mentioned previously, any technology can be used for good or for bad. The quote above which describes exactly what China is doing with their CBDC implementation. They are integrating it with their social scoring system and will then punish and enforce compliance on their citizens via the monetary system i.e. the Chinese CBDC or Digital Yuan.

    My concern is that people will equate the potential benefits of blockchain with CBDCs i.e. CBDC bad therefore blockchain and crypto must also be bad.

    Comments?
    Those confusions, between central bank controlled cryptos, and free and honest cryptos, will occur, no doubt.

    The tendency with technology is for well conceived, architected and adaptable layers of the technology to prevail, eventually, for most use cases.

    Technology keeps evolving rapidly, and when one is building some "new" system, if there is some component you can use off the shelf that "just works", reliably and predictably, even if put to some use, in some way, that the originator of that technology never imagined, then there's a good chance that you'll just use that component, and focus your resources and creative energies elsewhere.

    TCP/IP networking has become such, at one layer of the protocol stack.

    Linux and related operating system kernels have become such, at another layer, from mobiles to super computers.

    HTML has become yet another such layer, though efforts to Embrace, Extend, and Extinguish still seem quite active, by such behemoths as Google.

    Hardware is rife with such examples, but that's not so much an area of my expertise, so I'll not cite examples.

    I expect that which ever distributed ledger technologies, such as blockchains, become most widely used will provide more such examples.

    Currently, the main way that the Banksters suppress cryptocurrencies is by making it difficult for ordinary people to move value between cryptocurrencies and their bank issued debt-money. The Banksters are trying to "wall off" cryptocurrencies, in a holding action, while they marshall their forces.

    I expect that this will shift over the time. In perhaps a few years, perhaps several years, we'll see a shift to more equal co-existence of "real" (distributed ledger) cryptocurrencies along side bankster debt-money, with Central Banks issuing digital forms of their debt-money. Then we'll see further shifting, to bank issued debt-money being more on the periphery, trying to remain relevant.

    Given the deep entanglements that our current debt-money system has with our global infrastructure, manufacturing, financial and economic systems, such a shift in the technology of our money will not, can not, happen in isolation. Much else has to shift as well. So this shift will be long, slow and difficult, with some "surprises" along the way.

    As reportedly was once said of World War I:

    War is long periods of boredom punctuated by moments of sheer terror.
    Last edited by ThePythonicCow; 2nd November 2021 at 22:51.
    My quite dormant website: pauljackson.us

  20. The Following 3 Users Say Thank You to ThePythonicCow For This Post:

    gord (3rd November 2021), mojo (4th November 2021), Vangelo (2nd November 2021)

  21. Link to Post #32
    United States Avalon Member Vangelo's Avatar
    Join Date
    24th January 2011
    Location
    Massachusetts
    Posts
    586
    Thanks
    11,264
    Thanked 4,564 times in 567 posts

    Default Re: Will the Banksters Embrace, Extend, and Extinguish Cryptocurrencies?

    Quote Posted by ThePythonicCow (here)

    Currently, the main way that the Banksters suppress cryptocurrencies is by making it difficult for ordinary people to move value between cryptocurrencies and their bank issued debt-money. The Banksters are trying to "wall off" cryptocurrencies, in a holding action, while they marshall their forces.
    I agree, they are trying to do everything the can to slow adoption and create barriers to entry. But there are positive things happening as illustrated by these three articles:

    Mastercard is preparing to announce that any of the thousands of banks and millions of merchants on its payments network can offer crypto services...
    https://www.cnbc.com/2021/10/25/mast...-services.html

    Visa is partnering with over 50 crypto companies to allow clients to spend digital currencies. This means clients can buy from any merchant accepting Visa, even those who do not accept crypto.
    https://markets.businessinsider.com/...es-2021-7?op=1

    Twitter Launches Bitcoin Tipping Feature, Explores NFT Authentication
    https://news.bitcoin.com/twitter-bit...uthentication/

    Then there is El Salvador. They have made BTC legal tender and distributed $30 in BTC to every citizen.  That is big news IMHO.  What country will be next?

    I am hoping the Blockchain community can continue to out run the central banks and the government regulators with these types of innovations and services.
    Happiness comes from within, nowhere else.

  22. The Following 3 Users Say Thank You to Vangelo For This Post:

    Ankle Biter (7th November 2021), mojo (4th November 2021), ThePythonicCow (3rd November 2021)

  23. Link to Post #33
    United States Administrator ThePythonicCow's Avatar
    Join Date
    4th January 2011
    Location
    North Texas
    Language
    English
    Age
    76
    Posts
    28,582
    Thanks
    30,501
    Thanked 138,438 times in 21,490 posts

    Default Re: Will the Banksters Embrace, Extend, and Extinguish Cryptocurrencies?

    Quote Posted by ThePythonicCow (here)
    I expect that this will shift over the time. In perhaps a few years, perhaps several years, we'll see a shift to more equal co-existence of "real" (distributed ledger) cryptocurrencies along side bankster debt-money, with Central Banks issuing digital forms of their debt-money.
    Quote Posted by Vangelo (here)
    I agree, they are trying to do everything the can to slow adoption and create barriers to entry. But there are positive things happening as illustrated by these three articles:
    I think we're more or less in agreement ... they are starting to integrate the main stream debt-money system with cryptocurrencies.

    Quote Posted by Vangelo (here)
    I am hoping the Blockchain community can continue to out run the central banks and the government regulators with these types of innovations and services.
    I agree. From what I've seen of networking (TCP/IP) and operating systems (Linux), and from my confidence that well built systems are more resilient, I expect a robust cryptocurrency infrastructure to outrun and mostly replace the highly corruptible and corrupted debt-money system.

    This is a monster change however. It won't be easy or quick. Many who have already cut their teeth on the debt-money system will never make sense of this to a comfortable degree, and just have to put their head down and plug along.
    My quite dormant website: pauljackson.us

  24. The Following 3 Users Say Thank You to ThePythonicCow For This Post:

    gord (3rd November 2021), iota (6th November 2021), Vangelo (3rd November 2021)

  25. Link to Post #34
    United States Avalon Member
    Join Date
    24th June 2013
    Language
    English
    Posts
    1,984
    Thanks
    2,726
    Thanked 6,945 times in 1,689 posts

    Default Re: Will the Banksters Embrace, Extend, and Extinguish Cryptocurrencies?

    I have not read anything above or elsewhere which visually and adequately describes the crypto currency system from beginning to end. How does one pay for things when their owners are not a part of the crypto system? Is there some sort of physical representation of the value of your money in the system? What makes anyone think that the Block/Chain, whatever that is, guarantees that internal theft or other manipulation cannot be hardwired into the computer system to escape detection? Hah! Just remember what the crooked Dominion Voting Machines were able to do to the election results. That is only the beginning of possibilities. Furthermore, the greed and corruption of Banksters and their underlings, the Governments, is boundless and uncontrolled.

  26. The Following User Says Thank You to amor For This Post:

    mojo (4th November 2021)

  27. Link to Post #35
    United States Administrator ThePythonicCow's Avatar
    Join Date
    4th January 2011
    Location
    North Texas
    Language
    English
    Age
    76
    Posts
    28,582
    Thanks
    30,501
    Thanked 138,438 times in 21,490 posts

    Default Re: Will the Banksters Embrace, Extend, and Extinguish Cryptocurrencies?

    Quote Posted by amor (here)
    What makes anyone think that the Block/Chain, whatever that is, guarantees that internal theft or other manipulation cannot be hardwired into the computer system to escape detection?
    Those of us with appropriate skills can look at how these cryptocurrencies work and see where the vulnerabilities are. The core mechanisms are powerfully, mathematically, secure. They are open source. They are designed to be secure. There are vulnerabilities in crypto, which is why experts often recommend keeping your crypto off the cryptocurrency exchanges, except when actively trading them, why long time crypto traders warn new comers that the cryptocurrency market is very volatile, and why they warn that changes in the legal and regulatory environment of cryptos could drastically effect their value.

    Others who try to look at the election machines usually get turned away, not allowed to look. But when they find ways to look anyway, they find layers of lies, fraud and deceit, designed to facilitate election theft, and used for just that purpose, in many nations, over quite a few years now.

    We are not in stable times. The US Dollar may crash and burn; the stock and bond markets around the world may crash and burn, the entire debt-money system that has dominated our civilization for the last century or two may crash, burn, and/or be completely replaced. Precious metals, real estate, ... it's all at risk of greater volatility than usual, including great fraud.

    In particular, I would prefer a new monetary system. Currently our monetary system is based on debt-money and isused to build an immense tower of Babylonian debt-money derivatives. I would prefer a core monetary system that is built to securely and transparently transfer and hold assets, rather than to opaquely build up towers of debt, derivatives and fraud.
    My quite dormant website: pauljackson.us

  28. The Following 3 Users Say Thank You to ThePythonicCow For This Post:

    Ankle Biter (7th November 2021), mojo (4th November 2021), Vangelo (4th November 2021)

  29. Link to Post #36
    United States Administrator ThePythonicCow's Avatar
    Join Date
    4th January 2011
    Location
    North Texas
    Language
    English
    Age
    76
    Posts
    28,582
    Thanks
    30,501
    Thanked 138,438 times in 21,490 posts

    Default Re: Will the Banksters Embrace, Extend, and Extinguish Cryptocurrencies?

    Quote Posted by amor (here)
    What makes anyone think that the Block/Chain, whatever that is, guarantees that internal theft or other manipulation cannot be hardwired into the computer system to escape detection?
    In other words, anything can all be used for good, or for bad.

    Hands, words, hammers, swords, food, drink, guns, explosives, computers, coins ... everything can all be used for good or bad.

    One has to look at the way something is used, the intention of the user, and the consequences of the usage, in order to come to a more informed opinion on whether one agrees with that use.
    My quite dormant website: pauljackson.us

  30. The Following 3 Users Say Thank You to ThePythonicCow For This Post:

    gord (4th November 2021), mojo (4th November 2021), Vangelo (4th November 2021)

  31. Link to Post #37
    United States Administrator ThePythonicCow's Avatar
    Join Date
    4th January 2011
    Location
    North Texas
    Language
    English
    Age
    76
    Posts
    28,582
    Thanks
    30,501
    Thanked 138,438 times in 21,490 posts

    Default Re: Will the Banksters Embrace, Extend, and Extinguish Cryptocurrencies?

    Quote Posted by ThePythonicCow (here)
    One has to look at the way something is used, the intention of the user, and the consequences of the usage, in order to come to a more informed opinion on whether one agrees with that use.
    On further thought, the above concerns of amor are very legitimate.

    Digital currencies may well become the dominant form of money in coming years.

    Our future digital currencies could predominantly be one of two forms, either:
    1. Open source based cryptocurrencies freely and directly exchangeable between all humans, without central surveillance and control, or
    2. Central Bank Digital Currencies (CBDC's), that enable global central surveillance and control of all human monetary activity.
    If CBDC's predominate, then humanity will be enslaved.

    I spell this concern out further in Post #97 of my Money Master thread.

    Once the current US Dollar dominated monetary and financial system collapses (as I expect within a year), then the Money Masters, the Central Bankers, the Banksters intend to convert our civilization's monetary system to CBDC's that will then enable them to control humanity.

    We must become aware of this threat, while we still can. We must resist.
    My quite dormant website: pauljackson.us

  32. The Following 3 Users Say Thank You to ThePythonicCow For This Post:

    Ankle Biter (7th November 2021), gord (4th November 2021), mojo (4th November 2021)

  33. Link to Post #38
    United States Avalon Member Vangelo's Avatar
    Join Date
    24th January 2011
    Location
    Massachusetts
    Posts
    586
    Thanks
    11,264
    Thanked 4,564 times in 567 posts

    Default Re: Will the Banksters Embrace, Extend, and Extinguish Cryptocurrencies?

    Quote Posted by ThePythonicCow (here)
    Quote Posted by ThePythonicCow (here)
    One has to look at the way something is used, the intention of the user, and the consequences of the usage, in order to come to a more informed opinion on whether one agrees with that use.
    On further thought, the above concerns of amor are very legitimate.

    Digital currencies may well become the dominant form of money in coming years.

    Our future digital currencies could predominantly be one of two forms, either:
    1. Open source based cryptocurrencies freely and directly exchangeable between all humans, without central surveillance and control, or
    2. Central Bank Digital Currencies (CBDC's), that enable global central surveillance and control of all human monetary activity.
    If CBDC's predominate, then humanity will be enslaved.

    I spell this concern out further in Post #97 of my Money Master thread.

    Once the current US Dollar dominated monetary and financial system collapses (as I expect within a year), then the Money Masters, the Central Bankers, the Banksters intend to convert our civilization's monetary system to CBDC's that will then enable them to control humanity.

    We must become aware of this threat, while we still can. We must resist.

    Again, we agree. This is the battle we must face. I have been contributing to this thread specifically with the intention of emphasizing the double edged sword of adopting crypto as our monetary system.


    Quote Posted by Vangelo (here)
    As mentioned previously, any technology can be used for good or for bad. The quote above which describes exactly what China is doing with their CBDC implementation. They are integrating it with their social scoring system and will then punish and enforce compliance on their citizens via the monetary system i.e. the Chinese CBDC or Digital Yuan.

    My concern is that people will equate the potential benefits of blockchain with CBDCs i.e. CBDC bad therefore blockchain and crypto must also be bad.

    Comments?
    We need digital currency(s) in the form of the Bitcoin blockchain for instance, to replace our current fiat monetary system because it is a usury tower of Babylonian debt-money derivatives. But we have to find some means to maintain independence from CBDCs which the Central Banks will issue to control the populace.

    Because I believe Governments and Central Banks will never give up power and control, I believe we will end up with CBDCs. The question will be how enslaving will they be. I am hoping we will also have a parallel monetary system. It exists today in the form of the crypto/blockchain craze currently dominated by Bitcoin.

    We must get educated and we must lobby our governments to pass laws that promote crypto as a privately held asset like gold while at the same time either outlaw CBDCs (which I doubt will happen) or pass laws that prohibit the CBDCs from being used to punish 'bad behavior' and enslave us.
    Happiness comes from within, nowhere else.

  34. The Following 3 Users Say Thank You to Vangelo For This Post:

    gord (4th November 2021), mojo (4th November 2021), ThePythonicCow (4th November 2021)

  35. Link to Post #39
    United States Administrator ThePythonicCow's Avatar
    Join Date
    4th January 2011
    Location
    North Texas
    Language
    English
    Age
    76
    Posts
    28,582
    Thanks
    30,501
    Thanked 138,438 times in 21,490 posts

    Default Re: Will the Banksters Embrace, Extend, and Extinguish Cryptocurrencies?

    Quote Posted by Vangelo (here)
    We need digital currency(s) in the form of the Bitcoin blockchain for instance, to replace our current fiat monetary system because it is a usury tower of Babylonian debt-money derivatives. But we have to find some means to maintain independence from CBDCs which the Central Banks will issue to control the populace.
    Yes.

    Quote Because I believe Governments and Central Banks will never give up power and control, I believe we will end up with CBDCs. The question will be how enslaving will they be. I am hoping we will also have a parallel monetary system. It exists today in the form of the crypto/blockchain craze currently dominated by Bitcoin.
    As with the news and social media, such as Avalon , we need to preserve, protect, defend and encourage alternative monetary media

    Quote We must get educated and we must lobby our governments to pass laws that promote crypto as a privately held asset like gold while at the same time either outlaw CBDCs (which I doubt will happen) or pass laws that prohibit the CBDCs from being used to punish 'bad behavior' and enslave us.
    When the Elite Bastards sufficiently control the police, prosecutors, judges, lawyers and media, then the laws do not constrain the Elite Bastards. For one recent and blatant example, election laws in the U.S., enacted by the state legislatures as they are explicitly empowered to so do by our Constitution, were just pushed aside by minions working for the bastards in critical precincts, who dictated other more easily corrupted procedures.

    But the laws can, if recognized by enough people as legitimate, dramatically effect the narrative. When and if enough people think and feel that good and essential laws were violated, then continuing to egregiously violate such laws, in order to accomplish evil, becomes too difficult. Laws are ultimately enforced in the hearts, minds, and souls of the people.

    This is a war for the hearts, minds and souls of humanity, and for their wallets, bodies, labor and property.
    My quite dormant website: pauljackson.us

  36. The Following 3 Users Say Thank You to ThePythonicCow For This Post:

    gord (6th November 2021), mojo (4th November 2021), Vangelo (4th November 2021)

  37. Link to Post #40
    United States Administrator ThePythonicCow's Avatar
    Join Date
    4th January 2011
    Location
    North Texas
    Language
    English
    Age
    76
    Posts
    28,582
    Thanks
    30,501
    Thanked 138,438 times in 21,490 posts

    Default Re: Will the Banksters Embrace, Extend, and Extinguish Cryptocurrencies?

    .
    The title of this thread asks:
    Will the Banksters Embrace, Extend, and Extinguish Cryptocurrencies?
    I have seen the future, and the answer is:
    Yes, they will.
    (where, by "extinguish", I mean mostly integrate into their monetary surveillance and control grid, marginalizing what they can't so integrate.)

    Guy, the crypto guy at the Coin Bureau, is one of the best crypto commentators that I know of. He, somewhat unwittingly in my view, answers this question, in the following Youtube video that he posted earlier today:
    Guy provides a fine overview of the Financial Action Task Force (FATF) Updated Guidance for a Risk-Based Approach to Virtual Assets and Virtual Asset Service Providers, released last month, October 2021.

    These actual recommendations are available on this FATF website as:
    VIRTUAL ASSETS AND VIRTUAL ASSET SERVICE PROVIDERS:
    UPDATED GUIDANCE FOR A RISK-BASED APROACH
    (111 page pdf)
    The fundamental legal question here is whether pre-crime surveillance of activity and communications (e.g. wire tapping of phone lines), searches and seizures of private property, and detention of individuals is:
    • [freedom]: only allowed after sufficient evidence of illegal activity particular to specific situation has been presented to a judge or grand jury to warrant such surveillance, searches, seizures, indictments, and/or arrests, or
    • [tyranny]: generally allowed to the "government", in order to "keep us safe."
    The above linked FATF "Guidance for virtual assets" unabashedly takes the position that such pre-crime surveillance, searches, seizures, personal arrests, corporate takedowns, and financial isolation are important and essential to be imposed on all non-compliant institutions, operations, corporations, governments and other identifiable entities (was their failure to mention robots simply an oversight?) in our world.

    FATF provides the roadmap to the Money Masters to "keep us safe", from any virtual asset holdings or activity (by us humans), that might present a danger or impediment (to their tyrannical rule).

    Since the Money Masters would not, and have not for a long time, allowed anyone to obtain any position of authority who would think otherwise, I am now confident that I have seen the future, and that cryptocurrencies and all related activity, insttutions, tools and software will be interwoven with the mass control grid that they seek.

    I still hope and expect that Trump has been and is still working as a frontman for some white hats who intend to clean up much of the corruption in our media, schools, governments, and big businesses (such as big pharma and "health" care). The basic story line here will be that Big Bad China corrupted these institutions and some traitors within them, in order to carry out one of the worst attacks in human history.

    [To be added here a bit later: links to a couple of posts, on some other appropriate thread, spelling out my current grounds for such hope. -- Paul

    P.S. -- See next post for links.]

    However I see scant basis for hoping that such a cleanup will extend to cryptocurrencies or the Money Masters Satanic control of our civilization's monetary and financial institutions and practices. Trump is not now, nor has he ever been, in a position or of a mind set to take down the Money Masters who have ruled over humanity for the last several thousand years, at least.

    There are a few activities and possessions, such as cash, guns, homes, voting, speaking, travel, worshiping, the postal service, and telephony that had laws and practices which were put in place here in the U.S., back when we were more free, and which (at least until 9/11, and then more so Covid) have retained more freedom to (nearly) the present day.

    For most "new stuff" that has arisen in the last hundred years, the "safety" of the public takes priority over the freedom of the people, authorizing mass pre-crime unwarranted surveillance, searches, seizures and arrests, as mandated by the "authorities".

    Cryptocurrencies will be joining that long list of state controlled entities.

    Read the above FATF "Guidance for virtual assets", or view Guy's above video ... and weep.

    I forecast that there will come a "Pearl Harbor", a "9/11", a "Covid", catastrophe in the crypto space, and then legislation will be pulled from some Senator's locked desk drawer, to be swiftly introduced and passed, bringing control of cryptocurrencies under the (left?) hand of our Satanic overlords.

    This might not happen until after a majority of the people have some digital currency, perhaps as a "coin drop" from their central bank. Such catastrophe's work best when a majority of the people are shocked to their core. An economic and financial collapse would be a good opportunity for such a "coin drop".

    Thus, I forecast this order of events:
    1. A major financial and economic collapse.
    2. "Free" money to all, in the form of new central bank digital currencies.
    3. A shocking digital currency wipeout say of Bitcoin itself or of a major crypto exchange.
    4. Rapid passing of "Crypto Patriot Acts" world-wide, to regulate digital currencies.
    Last edited by ThePythonicCow; 6th November 2021 at 22:31.
    My quite dormant website: pauljackson.us

  38. The Following 4 Users Say Thank You to ThePythonicCow For This Post:

    Ankle Biter (7th November 2021), gord (6th November 2021), iota (6th November 2021), Vangelo (7th November 2021)

+ Reply to Thread
Page 2 of 5 FirstFirst 1 2 5 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts