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Cryptocurrency, The NWO Money System.

 
Lightning Chakra
Non Compos Mentis

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01/03/2013 10:11 PM

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Cryptocurrency, The NWO Money System.
Hi all,

In this thread I am going to explain (as best as I possibly can and without breaking rules), what Cryptocurrency is, and what is currently underway and has been for quite some time.

To start off, the Cryptocurrency "Bitcoin" shall be explained, and from there I will leave the rest to your research and digging up. I greatly apologize ahead of time to the mods and admins if this is taboo. I cannot message anyone to see, so if I do get banned, my apologies for causing any of you problems.

To start:

Bitcoin was created by a pseudonymous person by the name of Satoshi Nakamoto. No one knows (at least in the Bitcoin Community) who he really was. All they know is he was the creator of this currency.

Nakamoto claimed that he had been working on Bitcoin since 2007. In 2008, he published a paper on The Cryptography Mailing List at metzdowd describing the Bitcoin digital currency. In 2009, he released the first Bitcoin Software.

To quickly explain bitcoin, it is a decentralized digital currency based on software protocol by Satoshi. It is subdivided into 100 million smaller units called satoshis. It is created by a process called Mining, which is explained in the link below, and the difficulty of mining ranges depending on the systems being used. The difficulty, plus the market decide it's worth essentially.

If you want to know more about Bitcoin and everything to do with it, read here: [link to en.wikipedia.org]

Now I know some of you may be confused as to why I titled this as the NWO Currency.

The main things you NEED to know about this currency:

1) 1 Bitcoin is currently valued at $13.00 USD. (It hovers around here mostly). So it is, another fiat currency, but one that cannot be over inflated, at least not yet.
2) It is a nationally accepted currency for all sorts of things. As of right now it is mainly used for purchases on websites I will not name here, but there are black markets of sorts. It is also used to Proxy ones purchases. You can buy someone elses coins, which has another IP attached to it, thus making it near impossible to trace if you were to mix up your coins over and over.
3) It is peer to peer. No centralized bank, issuer or anything of that sort.
4) There are only so many bitcoins allowed in existence. Period. Satoshi made sure of this. However, now that the Feds have their eyes on it, (if they didn't for a while), who is to say it won't go bad.
5) In the community, one of the main developers and mods presented the concept of bitcoin and its counterparts to the Feds. [link to www.youtube.com]
6) Non TAXABLE

One of the biggest concerns I have with this, is number 5.
Recently, the community has been buzzing with alternatives to bitcoin. Litecoin is the only one with some sort of success, while the newest one "Freicoin" screams of socialism.

Also, lately I have noticed a great deal of activity with the Gov on this concept. And a few companies that have come up from the ground, stink of Fed.

I foresee this becoming a world currency, should it continue the way it is. I know I kind of jumped around on this, but I cannot message a Mod to see if this was cool to post, so hopefully I don't get banned for bringing some much needed attention to this issue.

All you have to do is google search this, and you will find loads of information on it, and the current uses, as well as the attention it is bringing. The Occupy Movement is heavily involved in this as well, if that raises any alarms for you. What better way to move a cryptocurrency into place, that is nationally accepted and untaxed and untraceable by the common person, than by saying "oh look, underground currency that the government can't control, tax or trace." I wonder how many people who were in Occupy will get into this with that in mind.

Not to mention the concept that you do NOTHING. Mining is merely a process done by your computer as it sits there, meaning if you were producing even 5 bitcoins a month, you'd be making 70 bucks a month for leaving your computer on.

All in all, I hope that you all find this informative and hopefully it leads you to some more information that you find useful, and yet again I am very sorry if this is not allowed.

--LC



UPDATE AS OF 2013:

Bitcoin has reached enormous value jumps this year, reaching 32$ USD per bitcoin.

It also has gained the attention of multimillionaire investors. One such investor (relooking for article and name right now), invested 130 million dollars into the Bitcoin mining scheme.

Read more at the following links, and I hope you all find these continuously helpful.

[link to www.guardian.co.uk]

[link to www.dailytech.com]

As it currently stands, the entire world (with at least moderate technological applications) is aware of bitcoin. There are companies by and large over the entire internet and world accepting bitcoin as a payment option.

I originally posted this as a warning, I hope some of you caught wind and took advantage of this.

Much love!

Last Edited by Lightning Chakra on 03/04/2013 04:51 PM
"People live their lives bound by what they accept as correct and true. That's how they define "reality". But what does it mean to be "correct" or "true"? Merely vague concepts ... their "reality" may all be a mirage. Can we consider them to simply be living in their own world, shaped by their beliefs?"


"People cling to all they know and understand. But understanding and knowledge are ambiguous. Their reality could all be an illusion."
Lightning Chakra (OP)
Non Compos Mentis

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01/03/2013 10:15 PM

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Re: Cryptocurrency, The NWO Money System.
bump

This should be read by a vast majority of GLP, if not everyone.
"People live their lives bound by what they accept as correct and true. That's how they define "reality". But what does it mean to be "correct" or "true"? Merely vague concepts ... their "reality" may all be a mirage. Can we consider them to simply be living in their own world, shaped by their beliefs?"


"People cling to all they know and understand. But understanding and knowledge are ambiguous. Their reality could all be an illusion."
Anonymous Coward
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01/03/2013 10:21 PM
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Re: Cryptocurrency, The NWO Money System.
Tell me how non-traceable currency can be used by the NWO?

It's impossible to track payments... From a government perspective it's terrible as it allows everyone to easily launder money.
Lightning Chakra (OP)
Non Compos Mentis

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01/03/2013 10:26 PM

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Re: Cryptocurrency, The NWO Money System.
Tell me how non-traceable currency can be used by the NWO?

It's impossible to track payments... From a government perspective it's terrible as it allows everyone to easily launder money.
 Quoting: Anonymous Coward 31456852


It may be impossible currently for the common user. However, given that a leader of community essentially broke down the concept to the Feds, I am sure they could find a way to trace it, considering I am sure they have the tech that far exceeds the creators and users spectrum of just using Proxy on the IP's.

The main thing about it, is the fact it is nationally accepted. And is currently being used by people in Europe, Asia, North America, Australia and South America. I am not sure about Africa.

That's the biggest point about it. It is hard to get USD, Pounds, Euro etc Nationally accepted without changing values of either or as well as having the actual population convert to it, whereas Bitcoin stays at a value based on the current market and like I said, it is another fiat currency, which currently, if you hold the most bitcoins or a very large chunk then you control the flow of the market.

It can be considered an elitist currency. Those who have the best mining rigs, and money to dump into it, will make the most profit, sound familiar?

EDIT: Also like I said, it has drawn a lot of attention from the Occupy Movement and other like minded people. Since it is a anonymous type currency, who is to say a gov hasn't already infiltrated it and begun to spin it in such a direction?

It is a fact that Anonymous was infiltrated by the Feds. So my feeling is the same has happened or will happen with this, and it will eventually grow into what would be a One World Currency used by every country (with computers at least).

Last Edited by Lightning Chakra on 01/03/2013 10:31 PM
"People live their lives bound by what they accept as correct and true. That's how they define "reality". But what does it mean to be "correct" or "true"? Merely vague concepts ... their "reality" may all be a mirage. Can we consider them to simply be living in their own world, shaped by their beliefs?"


"People cling to all they know and understand. But understanding and knowledge are ambiguous. Their reality could all be an illusion."
Anonymous Coward
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01/03/2013 11:53 PM
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Re: Cryptocurrency, The NWO Money System.
bump
Cool info - definitely food for thought...
thumbs
Anonymous Coward
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01/04/2013 12:07 AM
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Re: Cryptocurrency, The NWO Money System.
... so basically, Bitcoin is the ultimate nerd money?
scheming
Lightning Chakra (OP)
Non Compos Mentis

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United States
01/04/2013 06:01 PM

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Re: Cryptocurrency, The NWO Money System.
bump
Cool info - definitely food for thought...
thumbs
 Quoting: Anonymous Coward 2282264


Glad you liked it!

... so basically, Bitcoin is the ultimate nerd money?
scheming
 Quoting: Anonymous Coward 2282264


Lol I suppose you could say that.

However there are only 21 million bitcoins in existence and that number is supposedly not able to be increased. So it is the ultimate nerd/elite online currency :P
"People live their lives bound by what they accept as correct and true. That's how they define "reality". But what does it mean to be "correct" or "true"? Merely vague concepts ... their "reality" may all be a mirage. Can we consider them to simply be living in their own world, shaped by their beliefs?"


"People cling to all they know and understand. But understanding and knowledge are ambiguous. Their reality could all be an illusion."
Anonymous Coward
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01/05/2013 11:13 PM
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Re: Cryptocurrency, The NWO Money System.
HOW DOES IT WORK? WHAT DO I RUN?
Angry Hierophant

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01/05/2013 11:19 PM
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Re: Cryptocurrency, The NWO Money System.
This used to be a banned topic at glp. See how long this thread lasts. Thanks op.
Anonymous Coward
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01/05/2013 11:23 PM
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Re: Cryptocurrency, The NWO Money System.
This used to be a banned topic at glp. See how long this thread lasts. Thanks op.
 Quoting: Angry Hierophant



To learn who rules over you simply find out who you are not allowed to criticize. - Voltaire
*Darkzen*

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01/05/2013 11:25 PM
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Re: Cryptocurrency, The NWO Money System.
Do not BAIN Bitcoin !
duFontaine.

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01/05/2013 11:35 PM

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Re: Cryptocurrency, The NWO Money System.
TomPin
"Accept now that all you have seen from the day of your birth on the surface of the earth, to the present, are wonderful only because the finite mind of man is confused with fragments of evidence, that, from whatever direction we meet them, spring from an unreachable infinity."
Lightning Chakra (OP)
Non Compos Mentis

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United States
01/06/2013 07:55 PM

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Re: Cryptocurrency, The NWO Money System.
This used to be a banned topic at glp. See how long this thread lasts. Thanks op.
 Quoting: Angry Hierophant


No problem!

Do not BAIN Bitcoin !
 Quoting: *Darkzen*


Agreed friend!

TomPin
 Quoting: duFontaine.



Appreciate the support on this!
"People live their lives bound by what they accept as correct and true. That's how they define "reality". But what does it mean to be "correct" or "true"? Merely vague concepts ... their "reality" may all be a mirage. Can we consider them to simply be living in their own world, shaped by their beliefs?"


"People cling to all they know and understand. But understanding and knowledge are ambiguous. Their reality could all be an illusion."
Lightning Chakra (OP)
Non Compos Mentis

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United States
03/04/2013 04:52 PM

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Re: Cryptocurrency, The NWO Money System.
Bumping for the update in OP . bump
"People live their lives bound by what they accept as correct and true. That's how they define "reality". But what does it mean to be "correct" or "true"? Merely vague concepts ... their "reality" may all be a mirage. Can we consider them to simply be living in their own world, shaped by their beliefs?"


"People cling to all they know and understand. But understanding and knowledge are ambiguous. Their reality could all be an illusion."
SunnyDaze

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03/04/2013 05:05 PM

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Re: Cryptocurrency, The NWO Money System.
so what happens to bitcoins when the internet goes down?
Anonymous Coward
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03/04/2013 05:23 PM
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Re: Cryptocurrency, The NWO Money System.
so what happens to bitcoins when the internet goes down?
 Quoting: SunnyDaze


Obama wins.
Anonymous Coward
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03/04/2013 05:29 PM
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Re: Cryptocurrency, The NWO Money System.
so what happens to bitcoins when the internet goes down?
 Quoting: SunnyDaze


The government buys them all and raises the price a millionbucks and then uses them as collateral for a loan to fund the internet repair.
Lightning Chakra (OP)
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03/04/2013 09:51 PM

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Re: Cryptocurrency, The NWO Money System.
so what happens to bitcoins when the internet goes down?
 Quoting: SunnyDaze


Exactly the issue with this concept. Also add in, what if power grids go down? Bitcoin mining requires your rigs to obviously be plugged in and on.

The main issue that is now up and coming in the amount of attention this currency has grabbed, and it's current value for investors.

Consider this,

You mine X amount of bitcoins per day, and buy gold and silver through various vendors that accept bitcoins. You have officially just turned a massive profit for doing absolutely nothing.

The other issues I have seen arise is that it is relatively easy for someone to DDOS your "wallet" and snag your bitcoins (and whatever other coins you have) within a short time. This has happened to many of the bitcoin users as people can see on the forum there.

Not to mention, someone had mentioned that by creating their respective IP's to their coins as they mine, they may have the ability to trace what wallet they go to after they dump them. Thereby given them an easy to way to continuously sell, hack back, rinse and repeat.

When the newest rig units (ASIC's) were released, the first person who received theirs, made 1200 dollars in 9 days. And that was when bitcoins were valued at 13$ a pop.

All in all, it is rapidly evolving. Faster than I think many predicted and it is becoming a national "concern", or rather note of interest.

so what happens to bitcoins when the internet goes down?
 Quoting: SunnyDaze


Obama wins.
 Quoting: Anonymous Coward 33695338


Obama himself, or his campaign crew, accepted bitcoins as donations. So did Mittens.

so what happens to bitcoins when the internet goes down?
 Quoting: SunnyDaze


The government buys them all and raises the price a millionbucks and then uses them as collateral for a loan to fund the internet repair.
 Quoting: Anonymous Coward 32061884


This is the biggest issue. As i said in the OP, there are only so many bitcoins ALLOWED to exist. Period.

If any government was to purchase every single one in existence, game over and you have a repeat of what happens when FEDS control the economy and begin to centralize it.
"People live their lives bound by what they accept as correct and true. That's how they define "reality". But what does it mean to be "correct" or "true"? Merely vague concepts ... their "reality" may all be a mirage. Can we consider them to simply be living in their own world, shaped by their beliefs?"


"People cling to all they know and understand. But understanding and knowledge are ambiguous. Their reality could all be an illusion."
Anonymous Coward
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03/04/2013 10:56 PM
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Re: Cryptocurrency, The NWO Money System.


Bottom-line: Coupled to the value of commodity computing resources. Exponential drop offs in mining profits is occurring, and security is inherently flawed. User's become victims if they aren't savvy.
Lightning Chakra (OP)
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03/05/2013 05:10 PM

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Re: Cryptocurrency, The NWO Money System.


Bottom-line: Coupled to the value of commodity computing resources. Exponential drop offs in mining profits is occurring, and security is inherently flawed. User's become victims if they aren't savvy.
 Quoting: Anonymous Coward 35595463


Exactly! And ty for the vid imbed, much appreciated!
"People live their lives bound by what they accept as correct and true. That's how they define "reality". But what does it mean to be "correct" or "true"? Merely vague concepts ... their "reality" may all be a mirage. Can we consider them to simply be living in their own world, shaped by their beliefs?"


"People cling to all they know and understand. But understanding and knowledge are ambiguous. Their reality could all be an illusion."
mudbutterfly
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02/11/2014 07:17 PM
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Re: Cryptocurrency, The NWO Money System.
what does the software that you install on your computer for "mining" actually do?
Anonymous Coward
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02/11/2014 07:32 PM
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Re: Cryptocurrency, The NWO Money System.
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