“Every informed person needs to know about Bitcoin because it might be one of the world’s most important developments.” – Leon Luow, Nobel Peace prize nominee
Southern Colorado, mid-June 2017
…soon to be home to Colorado’s second Bitcoin-ATM…
“You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete.” – Buckminster Fuller
“The modern theory of the perpetuation of debt has drenched the earth with blood, and crushed its inhabitants under burdens ever accumulating.” – Thomas Jefferson
“Permit me to issue and control the money of a nation, and I care not who makes its laws!” – Mayer Amschel Bauer Rothschild, founder of the Rothschild banking dynasty, 1838
“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” – Henry Ford
“Bitcoin enables certain uses that are very unique. I think it offers possibilities that no other currency allows. For example the ability to spend a coin that only occurs when two separate parties agree to spend the coin; with a third party that couldn’t run away with the coin itself.” – Pieter Wuille
“You can’t stop things like Bitcoin. It will be everywhere and the world will have to readjust. World governments will have to readjust” – John McAfee, Founder of McAfee
“There are 3 eras of currency: Commodity based, politically based, and now, math based.” – Chris Dixon, Co-founder of Hunch now owned by Ebay
“Cryptocurrency Protocols Are Like Onions… One common design philosophy among many cryptocurrency 2.0 protocols is the idea that, just like the internet, cryptocurrency design would work best if protocols split off into different layers. Under this strain of thought, Bitcoin is to be thought of as a sort of TCP/IP of the cryptocurrency ecosystem, and other next-generation protocols can be built on top of Bitcoin much like we have SMTP for email, HTTP for webpages and XMPP for chat all on top of TCP as a common underlying data layer.” – Vitalik Buterin, Russian programmer, co-founder of Bitcoin Magazine & the CryptoCurrency Ethereum (ETH)
***Check out all the documentaries below the music.
Click through to YouTube to get more suggestions.***
Music (not all related), to get roll’n… (-:
“…♪ ♫ ♬…
The Bitcoin barbarians at the gate
Opened wide – the peasants can’t wait
For they were robbed while the bankers played
So the penny’s gonna drop in this coin race
Ruled and run
by a dollar and a gun
The world is spun
by some media fun
And a Ponzi game
in Caesar’s name
is virtually done
There’s a new race …
♪ ♫ ♬…” – from Elaine Diane Taylor:
“You show me a highly unequal society, and I will show you a police state. Or an uprising. There are no counterexamples. None. It’s not if, it’s when.” – Nick Hanauer
So… what happens when an entirely new type of ‘money’ (or is it currency? Or both in this case?) is basically “issued” by complex mathematics on globally distributed inter-linked computers, without the need for central banks or even banks altogether, and with the significance of transactions not centrally imposed but strangely more pliable than gold, and perhaps as durable as this civilization will roar onward…? Sounds like some like to dream thát big…
Couple documentaries that gave me ‘starting impressions’ to learn what Bitcoin and other cryptocurrencies are and what the ‘big deal’ is all about:
So, apparently, if I get this right, this a lot more than just a new currency online. Many feel very strongly that this is a revolutionary movement.
“Nothing is stronger than an idea whose time has come.” – Victor Hugo
The technological, creative & social applications of the blockchain invention have barely begun, but one major aspect of its skyrocketing appeal is in offering not just ‘damage control’ in “the inevitable* collapse” of the purchasing power of fiat currencies, but an entirely new paradigm that prevents the economy from being wrecked by power monopolies in the first place.
*Inevitable because fiat currencies (USD, EUR, etc.) are essentially a ponzi scheme, perpetrated by what appears to be a misguided secretive cunning ruthless cabal (lots of info on that when you start digging into the history of central banks, etc.):
It’s going to get ugly, everybody who has done even just a few days of research, looking at the global financial situation, knows that. The next financial crisis is coming and could be a lot worse than the last one. Their last card is another gigantic actual world war. All the big players are very clearly preparing for that vein of engagement. So much in fact, boosting military budgets when that should be the very last place to waste resources on, that it practically appears that that is just “what’s next” in their psychopathic playbook. The purpose of war is *the destruction of the products of labor*, so that a system of control (loans for rebuilding, etc.) can be maintained, solidified and consolidated further. The blockchain invention applied to currency could undermine that age-old evil scheme. Not that it will, that depends on various factors, but it could. Some of the documentaries touch on this potential. If the current trend of “quantitive easing” and other magic tricks continues, and there are no signs it won’t, the ‘purchasing power’ of fiat currencies are being printed into oblivion. Soon we might need wheel barrows of US dollars, Euros, Yuans, Rubbles,… to buy a Bitcoin penny...
But in the bigger picture, it could also just be a further deepening of the more fundamental crisis of modern disconnect…
Bitcoins are created by computers. They call that process “mining”. This next video shows the on-site reality of “mining bicoin”:
So without computers you cannot create new bitcoins. That fact alone raises an alert flag for me, cause that means that indigenous and indigenous-worldview-inclined people, who’re not per se even interested in participating the biosphere-invading technosphere, are disadvantaged from the get-go. (I’ve brought this theme up once before in (May 14, 2011), All that Glisters is not Gold…)
There’s some very interesting parallels with the essence of mining gold & silver: It takes time, know-how, technology & energy,… with the difference that once gold is mined, it’s essentially “timeless” and standing by itself as-is after that, while a cryptocurrency requires high-tech to even mean anything. Cryptocurrencies effectively get rid of middle men like governments and banks, but does high-tech, like “bitcoin wallets”, ‘smartphones’ and the vast network of servers and communication lines, with code and algorithms only understood by a technological elite, then become some type of de facto new middle man? Is this just another step towards having our lives ever more ‘mediated’ by technology? Just wondering.
On the difference between money and currency:
On a side-note, a video by the same speaker, Mike Maloney, on Bitcoin:
So, all of this got me wondering if bitcoin could be part of addressing the socio-economic and environmental challenges we’re faced with. At this point I have way more questions than answers… But I’m intrigued…
When you exchange ‘fiat currency’ (“backed by military might”, if anything), and exchange it for “cryptocurrency“, a system if person-to-person trust that takes the whole concept of “backed by something of intrinsic value” to a whole other configuration, what really does that exchange DO, fundamentally – semiotically – speaking? [Perhaps of interest could be this paper of ‘the semiotics of bitcoin’: http://llaannaa.com/papers/maurer_nelms_swartz_bitcoin.pdf , though I would love to see Alf Hornborg‘s take on these developments…]
I’m open to it being a stepping stone in a much better direction than the mess Central Banks have manipulated the world into, but at the onset of this learning journey, I’m mainly having questions. Wondering about “the medium remains the message“…: given it took a system of global corporate exploitation, built upon centuries of hierarchy and oppression, to now mass-produce computers… how is a cryptocurrency going to
make ‘incentivize’ industry and commerce to become more environmentally & socially conscious? It’s possible. Could Ethereum (ETH) lead to incentivizing social inventions?
Worth looking into some more, I think. Still all totally new to me, but I figured it wouldn’t hurt to share a blip about it.
Maybe I should throw a couple bucks at this and see what happens. I could start watching different graphs, like @ https://poloniex.com/exchange#usdt_eth . Seems to keep going up and, amidst its volatility, setting new records too, a bit like radiation graphs…, but more exciting. ;-)
To be revisited, for sure…