On money, Bitcoin and cryptocurrencies in general
If you’ve been paying attention to what’s going on in the world these days you’ve no doubt noticed the sharp rise in the popularity and adoption of cryptocurrencies and in particular Bitcoin. I’ve noticed that many people don’t understand the significance of these developments and the exact problems that they’re solving so in this post I’m going to share some of my thoughts on this and also discuss some of the things that people should watch out for when they decide to invest in cryptocurrencies.
It’s too bad that many of the developers who are introducing their own cryptocurrencies these days don’t understand the fundamental reasons for why Bitcoin was created, don’t understand the history and the purpose of money, and as a result create digital currencies that will help to perpetuate the same problems humanity has been suffering from for thousands of years.
Please take the time to educate yourselves first. This post is my way of helping you with that. Some of the things I will discuss might lie (far) outside of your realm of awareness, but keep an open mind and take this information into consideration, and I’m confident that with time you’ll reap the benefits — especially if you’re looking into investing in cryptocurrencies in the future.
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
Let me start right away by stating that the primary purpose of money is to enable and facilitate slavery. This is how money came into existence many thousands of years ago in ancient Mesopotamia. Even in recent times many smart people have recognized the purpose of money as such. For example, Leo Tolstoy eventually came to the conclusion that “money is a new form of slavery, and distinguishable from the old simply by the fact that it is impersonal; there is no human relation between master and slave.” While most of that quote by Tolstoy holds true, the fact is that money was not actually a ‘new’ form of slavery; it goes way back.
Important history of money
The purpose of this post isn’t to discuss the history of money, but it’s important to understand where the concept of money originated from and what its actual use was for, in order to later better understand and appreciate the significance of Bitcoin and other cryptocurrencies. The earliest source for money as we know it today can be found in ancient Mesopotamia. Its purpose was to control and manipulate people into slavery by making certain things in society scarce and difficult to obtain unless you were in possession of approved tokens that would enable you to exchange them for the things you wanted.
For example, since civilization was founded on the basis of sexual repression, sex was very scarce in society (made so on purpose), and satisfying your basic human need for sexual satisfaction required that you handed over a shekel coin, which you could only obtain by doing work for the ruling class. Here’s from an excerpt from Bernard Lietaer’s “The Future of Money”:
[…] the oldest coin currency that we know is a Sumerian bronze piece dating from before 3000 BC. On one side of the coin is a representation of a sheaf of wheat, and on the other, Ishtar, the goddess of fertility. The Sumerians called it the “Shekel” where “She” meant wheat, “Kel” was a measurement similar to a bushel, hence this coin was a symbol of a value of one bushel of wheat. (The word “shekel” survives in modern Hebrew as Israel’s monetary unit.) The original shekel had as its purpose payment for sacred prostitution at the temple of Ishtar, which was the temple of life and death. The temple, as well as being a ritual center, was the storage place for the reserves of wheat that supported the priesthood, and also the community in lean times. So farmers fulfilled their religious and social obligations by bringing their contributions of wheat to the temple, and receiving in exchange a shekel coin, entitling them to a visit with the temple prostitutes at the festival time.
Imagine that if there was no sexual repression in society, people would quite easily be able to obtain sex, and manipulating people into doing work in exchange for a token to be able to have sex with prostitutes would have been extremely difficult to impossible. Hence the need for sexual repression in order to create artificial scarcity, which we still have in most societies around the world today driving consumerism. Yes, even today, if a man wants to get laid he’d better have enough money, otherwise women will refuse to have sex with him — a learned behavior caused by the sexual repression brainwash that women receive starting from early childhood (which boils down to: if a man can’t buy you expensive things or take care of you, he’s not worthy of your vagina). This is sure to motivate the man and keep him working like a slave to earn enough money in order to get laid, which, of course, keeps the slave masters happy.
So money was used back then simply to keep track of which slaves (or ‘citizens’) were doing the work that was required of them, which would allow them access to the basic necessities of life which were made scarce on purpose. This is what is known today as a “social credit system,” such as implemented in countries like China.
The shekel is by no means atypical: Throughout history, virtually every society has conferred some mysterious sacred qualities on its currency. Two thousand years after the Sumerian shekel, the first Greek coins were tokens proving that a citizen had paid his dues and could thus participate in the annual “hecatomb” or sacred meal to be shared with the Deities (where half of all victuals were burned in their honor). The English word “money” derives from the Goddess Juno Moneta and the first Roman mint was in the basement of her temple.
It’s very important to understand at this point that these priests of antiquity were the first bankers and their temples were the first banks.
Until very recently, it was still the fashion to design banks to look like temples, and reverence lingers inside them: Central bankers, in particular, shroud their doings in priestly secrecy, while a hearing of the Chair of the Federal Reserve in the U.S. Congress has just as much ritual and studied ambiguity as the Eleusinian mysteries of ancient Greece. As William Greider puts it in his well-named bestselling book on the Federal Reserve Secrets of the Temple: “Like the temple, the Fed did not answer to the people, it spoke for them. Its decrees were cast in a mysterious language people could not understand, but its voice, they knew, was powerful and important.” 1
Today the bankers still create money out of thin air and, through the governments, still force people to use their money. This is a very important part of the system of enslavement that we currently find ourselves in, today better known as Statism.
Throughout the centuries the banking elite have only gotten better and better at using their monetary system to enslave the people. For example, not only are people forced to use their money in daily life, but through their control of the money supply the bankers can also cause inflation or they can debase the money, in effect taxing and robbing the people of their wealth. But don’t take my word for it; here’s what a banker wrote to his colleagues in 1862 in what is known as the Hazzard circular (PDF):
Slavery is likely to be abolished by the war power and chattel slavery destroyed. This, I and my European friends are in favor of, for slavery is but the owning of labor, and carries with it the care for the laborer; while the European plan, led on by England, is capital control of labor, by controlling wages. THIS CAN BE DONE BY CONTROLLING THE MONEY. The great debt that capitalists will see to it is made out of the war, must be used as a measure to control the volume of money.
Consider that the American IRS mafia was established on July 1st, 1862 2 — the same year in which the Hazzard circular was distributed — to “assess the nation’s first income tax, which was to raise funds for the American Civil War.”
The essence of all slavery consists in taking the product of another’s labor by force. It is immaterial whether this force be founded upon ownership of the slave or ownership of the money that he must get to live. Leo Tolstoy
Can you start to understand where Leo Tolstoy came from when he said that “money is a new form of slavery”? By controlling the amount and the value of the money in circulation, the bankers can very efficiently control the amount of work the slaves have to do — no torture and whips needed! For example, by causing inflation or debasing the currency, everything gets more expensive and the slaves automatically find themselves in a situation where they have to work harder in order to be able to earn enough money to cover their cost of living. And if some slaves thought that they had built up a nice amount of savings and could work less, they suddenly wake up one day to find out that the value of their savings are reduced by half and they need to start working harder again.
From the very beginning the priests in ancient Mesopotamia had also introduced usury 3 and debt-slavery into their monetary system. Here’s a quote from the book “The Sumerian Swindle, Volume I, How the Jews Betrayed Mankind” (2010):
If you have ever inspected a modern credit card contract or any other banking document, there is always “fine print”. In addition to tiny print that is difficult to read, it is often printed with gray ink, making it even more difficult to decipher. Have you ever wondered why this is so? If the bankers and credit card companies are honest businessmen, then why do they use tricks and deceit in order to trick you into entering into one of their fraudulent contracts? The question is rhetorical. Basically, banker and credit card companies are all swindlers. Their entire industry is criminal in nature, so secrecy, tricks and deceit are part and parcel of the bankers’ business methods.
The methods of modern bankers are built upon the same methods employed by the ancient moneylenders of Sumeria. The bankers, themselves, are crooks trying to swindle you out of your property, but they demand that you, yourself, must be honest and true to your word. They present you with a fraudulent contract to sign which stipulates how they are going to steal from you. And they expect you to keep the agreement, honestly and true, even though they, themselves, are neither honest nor true. The moneylenders demand that you honestly repay to them with interest what they have dishonestly defrauded from you. This is what modern moneylenders do to you but it was worse for the people of ancient Mesopotamia.
…
This ancient Sumerian Swindle is being used today by the Jews and financiers and bankers to destroy entire countries and swindle generations of people and to create despotic tyrannies that crush freedom, enslave Mankind and throw down God. The Sumerian Swindle has that kind of power. It has that kind of power and yet modern Man takes it for granted as a “normal” part of Life and so allows the Swindle to prosper.
It was invented in Mesopotamia, yet it is overlooked by archeology, misunderstood by politicians and invisible to the common man. The secrets of the Sumerian Swindle have been closely guarded for over seven thousand years and are still being held in the greedy and power-mad hands of some of the most evil fiends ever to have walked the earth.
This super secret invention of the Sumerians was not nuclear weapons or jet fighter planes, nothing as amazing as that. The super-secret Sumerian Swindle is quite simply the loaning of money at both simple and compound interest.
Throughout history various people have recognized these frauds of the bankers and have tried to free their people from slavery to the financial elite. Consider, for example, what happened to ‘Jesus’ in the new testament of the bible. If you know the story, ‘Jesus,’ in one of the few times that he actually used violence, tried to drive the Jewish money changers out of the temples back then because they were exploiting and ripping off the people. This ultimately proved to be fatal for him when the Jews consequently conspired to get him executed. Even if the character of ‘Jesus’ is entirely fictional, it’s still very interesting that such a story about him exists because it shows that even way back then, people were aware of being exploited by the financial elite.
In more recent history various presidents of the USA, specifically George Washington, Andrew Jackson, Abraham Lincoln, James A. Garfield and John F. Kennedy fought the bankers and tried to free their people from debt-slavery. Andrew Jackson actually campaigned on the slogan “Jackson and No Bank.” In the case of Lincoln, Garfield and Kennedy they ultimately had to pay with their lives. 4
Whoever controls the volume of money in our country is absolute master of all industry and commerce…when you realize that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate. James A. Garfield
Adolf Hitler also tried to challenge the international financial elite and tried to free Germany from debt-slavery. There’s a good reason for why Hitler has been so demonized and the truth is that it has absolutely nothing to do with the evil madman that the elite tried to make of him. Don’t believe the propaganda. The real reason why Hitler had to be destroyed and is so demonized today is because he had actually managed to recognize and get to the bottom of the ways in which the financial elite enslave the world, and in particular Germany at that time. I have a lot of details on this in my post “Adolf Hitler: The Greatest Story NEVER Told” and I encourage you to study the information there.
Hitler fought one of the most evil forces that still has humankind enslaved today all over the world — the Zionist central bankers. Initially Hitler succeeded and brought back a lot of prosperity to Germany within just a few years, until the Zionist usurers attacked (PDF):
From being a ruined and bankrupt nation in January 1933 with over six million unemployed persons, Hitler had transformed Germany into a socialist paradise and the most powerful and prosperous state in the history of Europe. He angrily rejected the recommendations of the Reichsbank, describing them as “mutiny”.
On January 19, 1939 he sacked the impudent lackey of international finance. Without further ado he instructed the Reichsbank to issue all credits requested by the state. A form of Federgeld (Feder money) was now in circulation, although the bills of exchange still attracted nominal interest.
A new Reichsbank law, which was promulgated on June 15, 1939, made the bank “UNCONDITIONALLY SUBORDINATED TO THE SOVEREIGNTY OF THE STATE.” Article 3 of the law decreed that the bank should be “directed and managed according to the instructions and under the supervision of the Fuehrer and Reich Chancellor.” Hitler was now his own banker, but having departed from the fold of international swindlers and usurers he would, like Napoleon Bonaparte, suffer the same fate: an unnecessary war followed by the ruination of his people and country.
The bankers saw that they were in danger of losing their grip on the enslavement of the world which would have accelerated if the truth about their monetary system, which was being exposed by Hitler, caught on with the rest of the world. In the introduction to “Manifesto For The Abolition Of Interest Slavery” we read:
Adolf Hitler’s economic system – heavily influenced by the genius of Gottfried Feder – was unlike anything the world had ever seen, and it worked better than anyone predicted at the time. […] Some authors and Nazi sympathizers have even suggested that if Germany’s brilliant economic ideas had spread to other nations, this would soon lead to the end of endless profits and power for the banksters, and hence the need for the Allied powers to bring Germany to her knees.
That was the true reason for why the international financial elite mobilized much of the world against Germany to destroy Hitler. In “Billions for the Bankers, Debts for the People” (1984), Sheldon Emry wrote:
Germany issued debt-free and interest-free money from 1935 and on, accounting for its startling rise from the depression to a world power in 5 years. Germany financed its entire government and war operation from 1935 to 1945 without gold and without debt, and it took the whole Capitalist and Communist world to destroy the German power over Europe and bring Europe back under the heel of the Bankers. Such history of money does not even appear in the textbooks of public (government) schools today.
And I hope that it’s starting to become clear to you why this information isn’t talked about in the history textbooks of schools today. In his last writing (his political testament written on April 29th, 1945), Hitler mentions the following:
It is untrue that I or anyone else in Germany wanted war in 1939. It was wanted and provoked solely by international statesmen either of Jewish origin or working for Jewish interests. I have made too many offers for the limitation and control of armaments, which posterity will not be cowardly enough always to disregard, for responsibility for the outbreak of this war to be placed on me. Nor have I ever wished that, after the appalling First World War, there would ever be a second against either England or America. Centuries will go by, but from the ruins of our towns and monuments the hatred of those ultimately responsible will always grow anew against the people whom we have to thank for all this: international Jewry and its henchmen.
Only three days before the outbreak of the German-Polish war I proposed a solution of the German-Polish problem to the British Ambassador in Berlin – international control as in the case of the Saar. This offer, too, cannot be lied away. It was only rejected because the ruling clique in England wanted war, partly for commercial reasons and partly because it was influenced by the propaganda put out by international Jewry.
I have left no one in doubt that if the people of Europe are once more treated as mere blocks of shares in the hands of these international money and finance conspirators, then the sole responsibility for the massacre must be borne by the true culprits: the Jews. Nor have I left anyone in doubt that this time millions of European children of Aryan descent will starve to death, millions of men will die in battle, and hundreds of thousands of women and children will be burned or bombed to death in our cities without the true culprits being held to account, albeit more humanely.
The same thing that happened to Hitler also happened recently to Muammar al-Qaddafi in Libya. Qaddafi also wanted to free not only Libya, but the entire African continent from debt-slavery, by introducing their own gold-backed currency, called the African dinar, and requiring Western countries to buy resources (such as oil) in that currency. This prompted French president Nicolas Sarkozy to call Libya “a threat to the financial security of mankind.” In reality the threat was to the financial security of the Zionist central bankers. That’s when the Zionist central bankers mobilized their military power (NATO etc.) to oust Qaddafi. It was later exposed via leaked emails from Hillary Clinton that the reason why Qaddafi had to be eliminated did indeed have to do with his plans for introducing their own currency. Here’s a quote from one of the leaked emails to Clinton released by WikiLeaks:
On April 2, 2011 sources with access to advisors to Salt al-Islam Qaddafi stated in strictest confidence that while the freezing of Libya’s foreign bank accounts presents Muammar Qaddafi with serious challenges, his ability to equip and maintain his armed forces and intelligence services remains intact. According to sensitive information available to this these individuals, Qaddafi’s government holds 143 tons of gold, and a similar amount in silver. During late March, 2011 these stocks were moved to SABHA (south west in the direction of the Libyan border with Niger and Chad); taken from the vaults of the Libyan Central Bank in Tripoli.
This gold was accumulated prior to the current rebellion and was intended to be used to establish a pan-African currency based on the Libyan golden Dinar. This plan was designed to provide the Francophone African Countries with an alternative to the French franc (CFA).
(Source Comment: According to knowledgeable individuals this quantity of gold and silver is valued at more than $7 billion. French intelligence officers discovered this plan shortly after the current rebellion began, and this was one of the factors that influenced President Nicolas Sarkozy’s decision to commit France to the attack on Libya.
Just like ‘Jesus’ with the money changers, Qaddafi wanted to drive the exploiters out of Africa only to ultimately die like a martyr at the hands of the Zionist financial banking elite.
A few years ago a former insider by the name of Ronald Bernard decided to publicly come out and expose the Zionist financial elite, going into great detail about how they operate and how their monetary system of control is currently setup around the world, and includes organizations such as the International Monetary Fund (IMF), the World Bank and the Bank of International Settlements (BIS). I have more on this in my post “Ronald Bernard Exposes the Zionist Financial (Banking) Elite”. The first and second part of his interview with Coöperatie de Vrije Media are of great importance and I highly recommend checking them out.
Cryptocurrencies
With the above quick history of money in mind we can have a good understanding about what its purpose has been from the very beginning and what it is still used for today. As Mark Passio described you can think of the flow of money in the global system as the electricity (or energy) that’s flowing inside a circuit. That’s why money is also referred to as currency (from the word ‘current’). By manipulating the flow of money (or energy) you can decide on which parts of the system you want to power (or support) and which parts you don’t want to power (or support). And as you can imagine, if you’re at the very top of the financial system managing the big currency flows, you can easily manipulate global events by manipulating the flow of money. You can even go so far as to manipulate thought and opinion; after all you can decide what politicians, the media and even academia say by financing only those who support your agenda. As Passio says, and as we’ve seen above, “the control of energy is the control of people,” and keep in mind that money is a representation of energy — a deceptive one, as Passio explains — in the anti-social system of enslavement (Statism) that we currently live in. In fact, everything surrounding the idea of money and generally referred to as ‘economy’ is pseudoscience based on deception, invented by the elite who want to enslave humanity.
This is where cryptocurrencies come in, providing humankind — for the first time in over 6000 years since ancient Mesopotamia — with a way to break free from thousands of years of enslavement through the monetary system. This was foreshadowed as early as 1988, as we can see in an interesting bit from “The Crypto Anarchist Manifesto” published in 1988 by Timothy C. May, who used to work for chipmaker Intel as an electronic engineer and senior scientist:
Computer technology is on the verge of providing the ability for individuals and groups to communicate and interact with each other in a totally anonymous manner. Two persons may exchange messages, conduct business, and negotiate electronic contracts without ever knowing the True Name, or legal identity, of the other. Interactions over networks will be untraceable, via extensive re-routing of encrypted packets and tamper-proof boxes which implement cryptographic protocols with nearly perfect assurance against any tampering. Reputations will be of central importance, far more important in dealings than even the credit ratings of today. These developments will alter completely the nature of government regulation, the ability to tax and control economic interactions, the ability to keep information secret, and will even alter the nature of trust and reputation.
…
The State will of course try to slow or halt the spread of this technology, citing national security concerns, use of the technology by drug dealers and tax evaders, and fears of societal disintegration. Many of these concerns will be valid; crypto anarchy will allow national secrets to be trade freely and will allow illicit and stolen materials to be traded. An anonymous computerized market will even make possible abhorrent markets for assassinations and extortion. Various criminal and foreign elements will be active users of CryptoNet. But this will not halt the spread of crypto anarchy.
Just as the technology of printing altered and reduced the power of medieval guilds and the social power structure, so too will cryptologic methods fundamentally alter the nature of corporations and of government interference in economic transactions.
Pay attention to the last line in the above quote, because that is exactly what’s happening today, and is similar to how the Global Brain (the world wide web) has opened the floodgates to allow the unrestricted spreading of knowledge, which thanks to Apple Computers in the early days was brought to the historically unprecedented levels of today.
The above mentioned problems with money are exactly what the inventor of the first peer to peer (P2P) cryptocurrency Bitcoin tried to solve. Bitcoin was designed and developed by someone (or possibly a group of people) going by the fictitious name Satoshi Nakamoto. They apparently made every effort to stay anonymous as their identity hasn’t been revealed up to this day — 9 years after the paper introducing Bitcoin was first released on October 31st, 2008. And I’m sure many people, including intelligence agencies, probably tried their best to find out who Nakamoto is. The press sure did.
Nakamoto didn’t come up with the idea behind Bitcoin completely by himself but built on existing ideas. A similar system called b-money was already described by Wei Dai in 1998, and is referenced by Nakamoto in his paper. In addition, employees at the National Security Agency (NSA) in the USA had also published a paper titled “How to Make a Mint: The Cryptography of Anonymous Electronic Cash” in 1997 describing how a cryptocurrency could be designed and implemented although their proposal, similar to ecash, relied on a central authority (a bank) to approve all transactions.
Nakamoto’s online correspondence on public forums, mailing lists and some of his emails sent to other early Bitcoin developers are archived online, and reveal that he had been working on Bitcoin in private for at least 3 years before introducing it online in 2008, releasing the paper and along with it a reference implementation of the Bitcoin protocol.
After the brief history of money discussed above, I’m sure you can imagine that working on and trying to introduce a new digital currency that would bypass the established central banking system of enslavement, and would threaten the established global power structures of the Zionist financial elite, is a very dangerous undertaking. Presidents of the USA have lost the battle with the bankers in the past and have even paid with their lives and so did other leaders like Adolf Hitler and Muammar al-Qaddafi. Entire countries have been invaded and destroyed based on false pretexts because of wanting to get rid of the monetary system of the international Zionist financial banking elite. I’m quite sure Nakamoto was very aware of the risks he was taking, and it comes as no surprise to me that he wanted to remain anonymous and took great precautions.
If you go through Nakamoto’s correspondence you’ll find that he was very careful with how he talked about his work so as to not cause any alarm bells to go off too early on in the process. Though it was very clear that he was going up against the established and centralized power structure, he tried his best not to make it too obvious. For example, in his paper he very carefully mentions that centralization and having to trust a third party (usually banks) was problematic and that the Bitcoin protocol was designed to circumvent and replace banks:
A common solution is to introduce a trusted central authority, or mint, that checks every transaction for double spending. […] The problem with this solution is that the fate of the entire money system depends on the company running the mint, with every transaction having to go through them, just like a bank. […] We have proposed a system for electronic transactions without relying on trust.
Of course, what Nakamoto really meant to say with the last line is that he had “proposed a system for electronic transactions without relying on banks.” In February 2009 he also posted the following on the forum of the P2P Foundation, revealing that he was aware of the fractional reserve banking scam of the central bankers:
The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts. Their massive overhead costs make micropayments impossible.
But really the “smoking gun” piece of evidence that gives Nakamoto’s true motives away, is the fact that he left a text message in the first mined Bitcoin block which reads “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks” which gives away the fact that he was tired of the monetary system that couldn’t be trusted, and that Bitcoin was his solution to get rid of one of the most important mechanisms used to enslave all of humanity today.
Nakamoto’s work and correspondence not only show that he had a good understanding of cryptography and software engineering (C/C++), but that he also had a deep understanding of the monetary system and how it was being abused to enslave everyone. In designing Bitcoin he made sure to do it in such a way that it would be very difficult to abuse it against people in ways that have been used in the past.
For example, Nakamoto made Bitcoin a peer to peer system taking out the need for a central authority, making the Bitcoin network decentralized and difficult to control and tamper with. He also open sourced the source code for the software, allowing anyone not only to check and scrutinize the software and protocol, but to compile and run their own nodes on the P2P network. This makes it difficult for governments to find and attack a central point of failure because of the simple fact that there is none. As cybersecurity legend John McAfee said in an interview with Bloomberg:
We’re talking about a decentralized world, a decentralized process where peer to peer activity is common. You cannot legislate that. Well, you can, but then how are you going to enforce it? You’d have to have an enforcer in everybody’s home. We can’t do that. So yes, they’ll enact legislation, people will get around it […] but in the end governments will lose because the power of this technology supersedes and is way above the power of centralized government.
And make no mistake about it, the Zionist central bankers will fight back and will instruct the governments under their control to try and fight the rise of (alternative) (crypto) currencies. As McAfee mentions, “world governments have declared war on Bitcoin”:
“Today will go down in history as the beginning of the war between the proponents of cryptocurrency and the world governments,” McAfee told the South China Morning Post of the growing conflict between governments and the “fugitives” subculture who back the development of virtual currencies. […] “If governments aren’t able to know what the movement is they will be unable to collect revenues. That’s going to cause panic in some countries. China sees it already,” McAfee said.
That’s right, the nature of Bitcoin makes it very difficult to use the currency to extract wealth from the people (i.e. to enslave them, for example via taxation). With Bitcoin extra care must be taken to prevent getting tracked on the P2P network, but this will become increasingly more difficult to impossible as the technology gets more advanced and newer currencies are introduced.
Nakamoto also introduced a fixed limit in Bitcoin on the amount of coins that could ever be mined (21 million) in order to make sure that there would be no inflation, and that, on the whole, the value of Bitcoin would continue to rise and investors wouldn’t lose any value. As you may know, the fiat currencies of today lose some of their value every year as more money keeps getting printed by the central banks. But more importantly, manipulations by the financial elite can cause fiat currencies to become practically worthless when it serves their agenda of exploitation and enslavement; we’ve seen this happening in the past in Germany (Weimar Republic) before Hitler came to power, and more recently in Venezuela. Bitcoin can’t be manipulated like that.
The value of Bitcoin in relation to fiat currencies will always rise because of the simple fact that there’s a limited amount of Bitcoin that will ever be available. For example, as of November 15th, 2017 there’s 1.59 trillion USD in circulation, with more printed every year. This means that if we had reached 21 million Bitcoins today, 1 Bitcoin would be worth 75,714.28 USD. And this is the minimum amount possible, because it doesn’t account for the fact that there will be scarcity as more and more people try to get some Bitcoin worldwide, causing demand to skyrocket in relation to the supply, which will drive the price up even higher. John McAfee has predicted Bitcoin prices of $500K and even 1 million USD in the future and this is quite possible. In addition, this also doesn’t account for the fact that roughly 4 million Bitcoins have been lost to date, which puts the maximum quantity and final supply of Bitcoin at an even lower level.
This is why when you decide to invest in cryptocurrencies, you have to make sure that you research first how they work and check if they have a built-in fixed quantity that can ever be mined. If not, then they are no better than the fiat currencies that we have today and you should avoid them at all cost! For example, as of right now, Ethereum also doesn’t have a built-in limit, and as far as I’m concerned is inflationary crap, so I would advise to avoid investing in that currency, lest you find out later in the future that the value goes down and you lose on your investment.
I also strongly advise to avoid any middle men (exchanges, banks, investment companies etc.) when getting Bitcoin or other cryptocurrencies. Like I explained above, there’s a good reason why Bitcoin was developed as a P2P protocol, specifically to avoid having to rely on middle men with all the disadvantages that come with that (basically, the fact that you can be fooled and robbed). We’ve already seen recently that the IRS mafia in the USA has demanded that Coinbase provide them with identifying records of people who have been trading through their platform, so that they can pursue and rob these people of their income. This is why using a middle man is a serious vulnerability. If you must use a middle man, make sure it’s one that is outside of the jurisdiction of the government mafia if possible.
But should you decide to use an exchange to buy your cryptocurrencies, make sure that you don’t leave your money stored at the exchange. Use them to buy and/or sell, but transfer your funds to your own wallet on your own computer or other device as soon as possible. Because if the exchange gets raided by the government mafia, or if they just decide to pretend that they were hacked, you will lose all your money! For Bitcoin, you can use software like Bitcoin Armory to maintain your own personal local wallet, fully under your control with your own private key(s). You also don’t want to keep your wallet online all the time (hot wallets) on your devices; make sure to make offline paper backups (cold storage) in case something bad happens to your devices.
And when you invest in cryptocurrencies, make sure you invest in real coins, and not in derivatives. As I’m writing this the market for Bitcoin futures is coming online in the USA, and I would strongly advise to avoid getting into that. This is in keeping with the above advice to avoid any kind of middle men at all cost! If you invest in derivatives, you don’t actually own any ‘physical’ coins, and as a result you will get caught in real bubbles and get swindled out of your wealth exactly like it has been done in the past with gold and fiat currencies. BEWARE, DON’T DO IT. Buy real, actual coins DIRECTLY and store them LOCALLY in your own personal wallets. You have been warned. As Nakamoto stated, the whole purpose of P2P cryptocurrencies is that:
The result is a distributed system with no single point of failure. Users hold the crypto keys to their own money and transact directly with each other, with the help of the P2P network to check for double-spending.
While the Zionist central bankers may not be able to directly control the P2P networks of cryptocurrencies like Bitcoin, they will try their best to co-opt it, forcing themselves as middle men to the general public; for example via trading in derivatives. Christine Lagarde, the head of the neo-colonialist scumbags at the IMF, has already noticed that Bitcoin “puts a question mark on the fractional banking model we know today,” and has urged her bankers to start looking at ways in which they can get in. 5 Governments are looking at launching their own state controlled cryptocurrencies, and if you’ve learned anything from the above, you’ll know that you should stay far away from their crap. Also beware of Ponzi schemes and fake cryptocurrencies like OneCoin, that are just trying to rip people off with get rich quick schemes and give real cryptocurrencies a bad reputation. Beware, be very cautious, educate yourself.
In the end cryptocurrencies like Bitcoin will only be a temporary solution as humankind transitions from our current societies based on a very old and ancient system of enslavement, to a new kind of society based on true freedom for the individual. I personally see a future where there will be no need for money, as described by the brilliant futurist and social engineer Jacque Fresco in his book “The Best That Money Can’t Buy.” However, before we get to that, we’ll first have to break free from the power and control that the Zionist central bankers have on humanity. And decentralized P2P cryptocurrencies like Bitcoin are a step in the right direction in order to achieve that.
Comments
There are 7 responses. Follow any responses to this post through its comments RSS feed. You can leave a response, or trackback from your own site.