Bitcoin, Gold, Libra, & Govt: Jeff Berwick, Fmr head of US ...

Jeff Berwick interviews Jose Rodriguez of Bitso.mx, Mexico's biggest Bitcoin exchange

Jeff Berwick interviews Jose Rodriguez of Bitso.mx, Mexico's biggest Bitcoin exchange submitted by ToEsExLoMi to Bitcoin [link] [comments]

Jeff Berwick interviews Jose Rodriguez of Bitso.mx, Mexico's biggest Bitcoin exchange

submitted by BitcoinAllBot to BitcoinAllTV [link] [comments]

Jeff Berwick interviews Jose Rodriguez of Bitso.mx, Mexico's biggest Bitcoin exchange

Jeff Berwick interviews Jose Rodriguez of Bitso.mx, Mexico's biggest Bitcoin exchange submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Failure, Chaos, & Bad Decisions: Why Dash's Horrible 2019 Means It Won't Survive 2020

I. Failure
In 2019, LATAM scammers ripped off Dash's treasury for 1000s of coins while providiing fake adoption statistics and embezzling money intended to save poor starving Venezuelan babies.
In 2019, Dash continued its free fall in marketcap rank, plunging to 27 from a high of 3. Once 5 times Monero's marketcap, Dash is by global free market consensus now valued at less than 50% of Monero, and may soon succumb to DogeCoin, a joke currency based on a dead 2013 meme. Measrued against the standard for altcoins, the once-hopeful 2 ETH for 1 Dash rate has surrendered unconditionally to Dash-breaking bearwhales - 1 Dash is worth less than 1/3 of an ETH now.
In 2019, Dash shills tried changing the subject from the "existential crisis" caused by DCG's failed Evolution Roadmap to other coins' cryptowinter vacations or fake & gamed metrics like tx/day, ignoring the obvious fact that Dash's singularly weak fundamentals and price collapsed in terms of Bitcoin, gold, fiat, and all other Top 25 altcoins.
In 2019, Dash shamefully abandoned tried-and-true Nakamoto Consensus with a cheap, gimmicky "Chainlocks" version of Peercoin's good old-fashioned checkpoints.
In 2019, Dash Core's chosen PR firm, Shift Communications, was a huge disappointment as it failed to engage the community, mitigate public relations disasters like MooCowMoo, or direct attention to EvoNet Platform's Open House. Dash Core also suffered the humiliation of being forced to de-endorse their own Shift Communication proposal, asking MNOs to vote down yet another money-wasting, bloated-corporation-imitating Core brainchild.
In 2019, Dash's identity as "Shitcoin of the year" was confirmed after being called out as a scam by the Crypto Vigilante Group due to the instamine, centralized mangement+control, and slow+broken privacy.
In 2019, Dash's support from Jeff Berwick's Dollar Vigilante Group turned very bearish to to their increased awareness of Dash's instamine and broken privacy.
In 2019, Dash was listed by Coinbase, raising hopes the Number might Go Up. But nobody actually cared about Dash on Coinbase, so nothing happened afterwards to change the market's opinion that Dash is worth less than a cold sack of puke.
In 2019, Dash's PrivateSend feature-cum-liability was broken by crypto research specialist u/Flenst, just as many exchanges were delisting Dash beause of its prior marketing under the old Darkcoin brand.
II Chaos
In 2019, every week wealthy Masternode owners dumped their 7200 "free" Dash, without returning anything for it to Dash's primary buyers. As the compounded Instamine Masternode poopulation grew, the market's ability to bear that overhead simply imploded.
In 2019, Dash went from weak to weaker as falling prices and severe reputation damage thanks to Macrochip & Moocowmoo resulted in budget shortfalls for Core Group Inc, intensifing toxic conflict over who must suffer additional austerity measures. Meanwhile Dash's competitors had great years and their devs wrote AND SHIPPED amazing code, such as Cardano releasing its (absolute madhouse of an) Incentivized Shelley Staking Testnet, Monero putting RandomX into production, and Decred adding state-of-the-art CoinShuffle++.
In 2019, DASH became a nightmare of change discussion and negativity. Instead of an Evolution product demo at the Open House, CEO Ryan Taylor plopped out a FUD turd and then proceded to roll around in it while all 15 people watching recoiled in horror and disgust. Markets hate uncertainty, so Dash Core's confusing new mission of endless scope creep, bikeshedding, and self re-invention only exacerbated existing negative investor sentiment.
III Bad Decisions
In 2019, Dash's increasinly desperate and centralized management+control (AKA spork-key hodler) entity, DCG, having lost hope in ever being competitive with successfull PoW-backed hard money cryptoassets like BTC/LTC/XMR, annouced a shocking, narrative-abandoning pivot to exploring Proof Of Stake options (as well as stripping X11 miners of their fair share of coinbase asset allocation).
In 2019, Dash's CEO ruined the years-overdue Evolution Open House by inciting a massive, controversial discussion after unilaterally declaring Dash is "overpaying" for Nakamoto Consensus PoW security.
In 2019, Dash's long-awaited Evolution release Open House featured no actual product demo as Liz's embarrassingly cringe EvoNet slideshow openly annouced Evolution has devolved into a Zero-Calorie Nothingburger with Vaporware Fries and Lite Ketchup.
In 2019, Dash's established coinbase reward allocation and PoW/PoSe consensus mechanism degenerated into a discussion of which Calvinhash Protocol[1] would fix Dash's massive technical and cultural debt problems, thereby making its Number Go Up.
[1] Calvinhash is a protocol invented by Evan at Dash Labs during an especially intense and lavishly provisioned Psytrance party "research" experience/experiment. Calvinhash has no rules; the miners, stakers, and Instamined DCG Masternodes make up their own rules as they go along, ensureing no Calvinhash proof-of-work, block size limit, consensus mechanism, or block reward is like another. 
submitted by henrygeorgist to DashUncensored [link] [comments]

A New Paradigm Of Crypto In The Ad Network Business

Manna Network is the first of its kind co-operative ad network. It aggregates and pools the web traffic of lots of small to medium websites into a larger, more valuable product and then enables each site to operate as an agent of the co-op to sell it. In return, they get both sizable, long-term commissions for their sales but also enables them to glean from the growth of the co-op that their participation results in. Because of the unique nature of web traffic and websites it operates simultaneously as a producer co-op, a marketing co-op, and a consumer co-op. It serves the small to medium business market and the blogging community.
It has a working demo. Anyone can sign up for free advertising and they will be advertised across the entire ad network (i.e. those that install the free script). The script functions like Google Adsense code (enabling revenue sharing in crypto only) but generates an entire web directory rather than just a few links alongside content) so it resides on its own page. Its not on a lot of websites yet (that will change when we publish the Wordpress plugin - then you will be advertised on all those installations as well). The script also provides the Adwords-type functionality (i.e. bidding for placement) which is what generates commissions.
Right now, I'm looking for web developers mostly and those with an entrepreneurial bent. Most of the software is open source. It can still use some development help but hopefully the business model should entice at least some development contributions because the developers will be earning for enabling their customers to earn (a win-win between developers and customers).
So, here I am with this introduction and, too, putting feelers out in the Monero community for website developers and operators that may want to help work on a system to turn web traffic into Monero? Even though Google dominates (with 95% ad network market share), Google's Adsense code is only on 1/3 of websites. Ours has a Wordpress plugin enabling the 35% of websites using Wordpress to start earning crypto with their web traffic in 5 minutes. We also have two additional systems of liquidity of earnings with a peer-to-peer member only market (for the crypto-backed ad credits) and an "assignment-of-accounts-payable" option for those that get their own payment provider so we make it easier to participate in the "crypto-only" economy.
The main website (the co-op's) is at Manna-Network.com but no registrations are done there. Instead, users register for free advertising at a member's site. My site is 1stBitcoinBank.com (click the advertise link for the web directory to register). Everyone that optionally installs the free script gets that web directory on their site and can offer 1) advertising across the whole network 2) the opportunity to install the script and earn crypto too. Both are free and the income comes from competitive bidding (in crypto only) for better position.
I believe this new paradigm of web advertising product would be a great asset to whichever coin our system decides to use. I was setting it up to use BitcoinSV but after watching Jeff Berwick's video about Monero I am seriously leaning that way. Among its features that I believe will help the crypto community:
submitted by Bungeebones to Monero [link] [comments]

Confessions of a Core Supporter

I remember as a slightly younger Bitcoiner watching videos and eating up everything I could about the subject. There was Roger Ver and Charlie Shrem, a cast of long bearded geniuses who kept this magic money safe, and of course the mysterious creator Mr Nakamoto. Things were weird, and grand, just the way I like them.
I bought my first bitcoin after the gox collapse, then more and more. If Mt gox couldn't kill bitcoin I wanted in. I watched it go to 300, then to 500, and was thrilled. I found bitcoin. I subbed a bunch of tech nerds on twitter. I remained on the outside, but I was now part of the dream of decentralized currency. I placed a certain amount of blind faith in this new technology that I admittedly didn't fully understand, yet somehow believed in, hoping that one day it would change the world.
I soon became aware of forks, of factions, of discontent. I shrugged my shoulders. After all, I had long since learned that bitcoin was the honey badger and it would figure it out. It always does. I learned to laugh at "bitcoin is dead" headlines and learned that this was simply a cue to buy more. There was Hodl. There was, buy the dip. There was always that lame ass on reddit reminding nubes (in nasally tone I'm sure) to "never buy more than you can afford to lose". There was the cute roller coaster coin guy which seemed to be so often on a fun ride to the top. I was riding this thing to the top with that little guy. Life was good. I was invested far more than I could afford to lose and life was great that way!
But then the more I read, the more 'in the know' guys I followed on twitter, the more reddit posts I read, I learned I would be forced to pick sides in an ideological battle between two distinct sides. Let's call them the nerds, and the capitalists. Being an anarchist/libertarian and capitalist it might seem strange that I found myself quickly taking the sides of the nerds. But it was the nerds who were the ones who kept all this shit together. The code, the security, the teflon armor that kept governments and crony capitalists out of bitcoin and who ultimately kept that little roller coaster guy going up and up and up. Life was good in the hands of the nerds. I was officially a small blocker, and I stood behind my nerds. I resented those who called them neckbeards. I have a beard and that was mean. Sometimes I chimed in on reddit posts, mocked big blockers on twitter, and firmly planted my feet on the rock of 1mb blocks. I would not be moved.
Then the fork happened. I was happy to receive my dividend. I even rushed out to sell some of my coins and sold a few but my gut resisted selling all of them. Something stopped me. That something was the instinctual recognition of the echo chamber of the small block community. It was beginning to scare me. Was this really where the sharp money was? I was beginning to wonder. I was beginning to doubt.
There was also the fact that I simply couldn't get my head around bigger blocks meaning less fees for the miners yet somehow the biggest miner in the world was such a staunch advocate of bigger blocks, all while more and more people were pouring into mining. I heard about side chains and lighting network. Boy did that sound good! But where was it? Where is it? When will it be delivered? Why isn't this ready yet with all this congestion? Do we really have the best nerds working on this problem? It's been like 9 years. What's up with this?
The answers and future promises of core, I had to admit seemed a bit vague at best. Transactions were getting clogged. There would not be a day ever in the future that I would buy a coffee with my bitcoin (ok ok). But there would also never be a day that someone busting their hump washing our dishes in expensive restaurants would be able to send their bitcoin home to a family that could really use them. It was too expensive. And new leaders in the space like Ari Paul were touting $100 fees as a sign of huge success. Was this what I signed up for? Was this the face of decentralization and borderless money?
But you have to have faith in the nerds, right? After all, they're nerds! And they were the ones that got us here. Or were they? I started to notice a complete disrespect for the companies that helped bitcoin grow to what it had; there was Jeremy Allaire, Brian Armstrong, Eric Vorhees, Gavin Andreson and Vinny Lingham, all thrown UNDER the bus and mercilessly at that. Profits were suddenly bad. Growth bad. Low fees, yup-bad. Appreciation for the risk some of these early pioneers took was non existent. And this didn't sit well with me. Why were these nerds so angry? Where was the respect? Where was the appreciation? Where was the loyalty to the men that helped the little roller coaster guy go so high? Why did you so quickly renege on the NY agreement once you got what you wanted; segwit. Only dishonest pussies do that kind of thing. A bigger question started to emerge in my head: what had these small block nerds done to improve on Bitcoin that a slightly different alternative group of nerd couldn't have done? Why couldn't' we just go to 2mb blocks for the time being? What if the small block nerds were wrong? Is there a shortage of nerds in this world? Maybe. But maybe not.
I started to get back to my roots. To dig beneath the bullshit and take a shovel to dig through the propaganda, and it's deep in this war. There's a lot at stake here. If there's one thing I've learned in the years I've been an anarchist there's one rule I have which trumps them all: Never trust the popular narrative. Because it's usually dead wrong. And often, it's actually a well crafted lie. But here I was on the 'popular' side. Ut oh, not good. Had I been fooled?
Now I'm not saying I'm fully in the big block camp. If I have been brainwashed, then I'll admit it's going to take more time to deprogram myself and begin to see things more clearly. However, I am starting to see a bit more clearly. What I do know is this; Tone Vays the famous bitcoin tout said BCH was going to zero within a day. That never came close to happening. Stick to massage parlors Tone. Men I respect and look up to (in certain ways) like Roger Ver, John McAfee, Jeff Berwick - all men with a provable TRACK RECORD of defying the government in one way or another and the criminal records to prove it (good thing in my book), and many other freedom loving anarchist types are all behind Bitcoin Cash. The small block community foams at the mouth like a demon in first century Galillee when you mention the name Roger Ver. Hmmm. Maybe he really is Bitcoin Jesus! Miners who let's face it, love money, put up their capital to invest in many many millions want to see bitcoin cash succeed. Vinny Lingham was thrown to the dogs by a ruthless community, for urging people to have an open mind and getting one BTC call wrong. The whole thing has at minimum, put a bad taste in my mouth.
Then there's the fact that some of the main core developers work for a large insurance company's company called Blockstream. If you really believed in bitcoin, shouldn't you own enough to not have to work for someone? I don't work for anyone, and I'm not a neckbeard nerd. But even I figured that much out and got some bitcoins early enough that I don't have to punch any one else's time clock. And while I'm never one to shy away from conspiracies there is the fact that the CEO of the big insurance company; AXA (who owns Blockstream who employs heavy hitters from the nerd Core group) is none other than Henri de Castries, who just so happens to be the chairman of the Bilderberg Group. You might think I made that last one up. I didn't. This just smells bad to me. I think a lot of people on the nerd, Core, block stream, blah blah blah side might be, just might be getting DUPED.
So, in closing I would like to apologize to the community. You can see, I'm not that active here or in bitcoin, but I have taken some stabs and even trolled a few of you. Hey, please forgive me, I thought I was on the right side, but I'm not so certain any more. One thing I did do is load up on some bitcoin cash. I paid a premium for it, and maybe I'll live to regret it. But I'm throwing my hat in with the successful capitalists, the anarchists, and people who believed in bitcoin enough in the beginning to not only buy (and maybe mine some), but to invest their lives in the space, to put their money where their mouth and beliefs were, and not have to go get a job working for some Bilderberger clown. The clues and the truth are always there folks, but you do have to search them out for yourself and more importantly, T H I N K. Sure I'm a bit late to the party, and I'm still not sure BCH will become the 'real bitcoin', but I'm moving some of my most valuable chips to this side of the table. I sense a strong rising tide here. I also just sent 30k worth of BCH for 2 cents and it was on the exchange in like 3 minutes. That felt like the good ole days and that felt good! And then there's the fact that when it all comes down to it, and despite the attempted slander meme circulating on twitter, I rather enjoy a glass of wine one day with Roger Ver and Jeff Berwick, Calvin Ayre (and maybe even fake Satoshi) than have my picture taken outside a Chucky Cheese with a group of nerds with small blocks.
submitted by NachoKong to btc [link] [comments]

Not money: anti-competitive establishment banking strategies

Bitcoin (Bitcoin Cash) will constantly face a series of bubbles to increase the volatility of its price. The aim is to reduce the transaction properties of the currency with the goal of limiting utility and adoption. This will be one of many strategies used to counteract our favourite technology.
"The United States and most of the world have been colonized by the central banking cartel which produces the medium of exchange in the form of a debt to itself." - Henry Makow
"There is always one central task for citizens in the empire: To help be part of the process of taking apart the empire. History suggests that if we don’t take it apart from the inside, some force from the outside eventually will take it down." - Robert Jensen
Establishment banking will engage in strategies that inhibit all of the transaction properties of Bitcoin. The move to electronic fiat is instructive. Every anti-competitive tactic known will be deployed. Lets identify them, starting with those that have already been initiated and then those that will follow. Who can create the definitive list of tactics that legacy banks will follow as part of their strategy to stall the rise of crypto by prohibiting transactions and making it not money? Trump is the fake strategy (do nothing) for public relations and history. What are the real strategies?
“A movement from centralized control of money to a decentralized money would, for all intents and purposes, destroy the power of every government on earth.” – Jeff Berwick
"The first instinct of governments and central banks faced with this gathering Depression began was to do nothing. Businessmen, economists, and politicians (memorably Secretary of the Treasury Mellon) expected the recession of 1929-1930 to be self-limiting." - J. Bradford DeLong
Once this is written we can share all of our ideas to counter these strategies in another thread. Crypto, money and geopolitics: a collection of quotations may help. We need to make sure Bitcoin Cash deals with these most destructive pursuits effectively so that another coin doesn't reign supreme instead. I will start with the following.
  1. Increase the transaction cost
  2. Prohibit time-critical transactions
  3. Prohibit micropayments
  4. Reduce liquidity
  5. Demonize
As expected the BTC holders will downvote without explanation.
submitted by --_-_o_-_-- to btc [link] [comments]

"The Big Picture" - Dollar Vigilante November Newsletter

It has been an interesting week for me.
First, I was invited to speak at World Crypto CON in Las Vegas and then shortly before the event they told me I couldn’t speak. At the same time they told most of my other anarchist friends they also couldn’t speak and/or they were banned from the event, including Ben Swann, Luke Rudkowski and Josh Sigurdson of World Alternative Media.
I was already in Texas for the Texas Bitcoin Conference and I mostly just wanted to play in their crypto poker tournament anyway so I went to Vegas.
All manner of strange people seemed to be coming up to me, including one woman speaking in tongues. And, a weird energy surrounded the event... so much so that my body was shaking the entire time.
Then they also didn’t allow me to play in the poker event! I paid one guy some BTC to buy his chips and they threatened to call the police on me! I know what happens next when that happens so I left the premises.
Later that night, Josh Sigurdson was poisoned and barely survived. Other anarchists I knew who were there were being accosted, having their phones stolen and other aggressions.
I should mention this all occurred on Halloween. Day of the dead. Whatever happened, karma struck instantly and no one showed up! I then got a message from my wife that she wanted me to come home immediately and I was happy to do so.
She told me that God told her that we had to tell everyone to repent immediately before it was too late and she went into two days of screaming, crying and became delirious after three days without eating or sleeping.
Eventually we had to get her to the hospital to get her calmed down. I’ve spent the last two days with her there and we just returned home as they gave her a number of things to relax her.
Is something strange going on? It sure feels like it. In any case, as I stated in the last newsletter, no matter what happens I am just going to continue on with my work (although spending more time with my family is also a priority) helping people to wake up... that’s all I can do.
Current Events
As I write it is the midterm selections in the USSA. Yet another, “most important election in our lifetime.” All fear propaganda to try to make believe that voting will fix this evil system of slavery. It won’t. But, when they say this is the "election of our lifetimes" they are right on one thing. Politics, central banks and government are very close to destroying the entire world.
Elect to walk away from it all now before it is too late. I know I don’t have to tell TDVers that but it is worth reiterating.
And, the results are in. Anarchy won like it has every single selection.
And the wars continue killing or destroying the lives of millions of innocents, Americans continue to get extorted for trillions of dollars per year, millions of innocents remain in cages in rape camps and the Federal Reserve continues to impoverish and steal from everyone.
Meanwhile, in things that actually matter, the battle over bitcoin has hastened dramatically. But, you wouldn’t know it from the price action.
The complete lack of volatility has only gotten worse (or better if you are in the “volatility is bad for bitcoin” camp).
Here is a chart of bitcoin on October 27th.
For a 24 hour period it traded within a $15 band! It’s like the whole world is just waiting to see what happens next.
And, what will happen next? I am still expecting a panic sell-off along with all worldwide markets followed by a price explosion.
We did make it through October without that happening, but I have pointed out November is also a prime month for it to occur. If nothing major occurs in November then I may have to reassess.
The US stock markets continue to hang in there but really only propped up by a minority of stocks as this tweet from early October points out.
Bank stocks, which are probably one of the most important to watch are off 17% from January of this year.
Meanwhile, crypto exchange Binance made more profit than Deutsche Bank in the second quarter of this year!
As I said last issue, things really couldn’t be going better for the cryptospace, right as it appears that bank stocks and the market as a whole is on the verge of collapse.
On October 26th, the CEO of Visa, Al Kelly, said that he “certainly” does not view cryptocurrencies as a threat to his business right now, but added that “if we have to go there, we’ll go there.”
You’ll have to go there Kelly... better start working on your resume. Taiwanese smartphone maker HTC is about to release its first blockchain-powered handset in cryptocurrencies, making it the first big name in the industry to accept only digital currencies as payment.
Exodus 1, the first version of HTC’s blockchain phone, is priced at 0.15 BTC or 4.78 ETH, which in current trading equates to about US$960.
HTC first announced the Exodus phone in May, which features a built-in digital wallet that will enable users to store and trade cryptocurrencies.
But, the game changing news is that ICE, the owner of the New York Stock Exchange, has announced they will launch their new digital asset platform, Baakt, on December 12th. This will enable traditional institutional investors to easily invest into the bitcoin market.
The total bitcoin market right now is about a $110 billion market cap.
Total value of financial asset worldwide is estimated to be over $300 trillion. Which means bitcoin is only 0.03% of total financial assets held in the world.
If, say, only 1% of that $300 trillion were to go into bitcoin, that would mean $3 trillion would be trying to enter a market worth $100 billion.
In other words, if you don’t own bitcoin and other cryptos by December 12th... don’t do that. And, don’t forget precious metals either.
FinIst analyst Denis Lisitsyn recently said on RT, “The aggressive US policy in recent years has forced some countries to look for an alternative to the dollar and replenish their gold reserves. Worries about the future growth of global economy are an additional incentive for purchases. Many question Donald Trump’s protectionism.”
Sounds like he has been listening to TDV’s Ed Bugos!
In the same article, Vladimir Rojankovsky, LIFA, expert at the International Financial Center said that Hungary, Poland, Russia, China, India, Turkey and Saudi Arabia are all hoarding gold.
This, after Russian ownership of US Treasury bonds dropped from $96.1 billion in March to an 11-year low of $14.9 billion in May.
The writing is on the wall. And almost the entire public has no idea what is happening.
Luckily you do, so stick with us here as we give you are best guidance on how to survive and prosper during and after the dollar collapse.
And get right with your family and God. I’ve had a few moments in the last week where I thought it might be all over and each time I felt despondent knowing I still haven’t done enough. Don’t wait too long.
Coming Events
Due to my wife being in the hospital recently I cancelled going to Steemfest in Poland. I was also going to go to Iran and Iraq on that trip. But, I’ve decided family has to come before work in this respect.
Which means, really, my next major events are close to home with the TDV Summit on February 12-13th and Anarchapulco/Cryptopulco from February 14-17th.
I couldn’t help notice that World Crypto Con, which seemed to be out to kill all of us anarchists, was on October 31st and Anarchapulco starts on Valentine’s Day. Because it is really all about love.
If you haven’t checked out the TDV Summit page lately, check it out. We’ve added a number of great speakers and I still have a few surprises to announce. It is two full days this year and I am able to focus on it fully for the first time as we have a professional management team running Anarchapulco now. And, included in the price is a gala dinner to be held on the evening of February 12th.
And, Anarchapulco just released its main stage speaker list (there will be 5 stages this year). It’s quite the list! Jeffrey Tucker - Anarchapulco Master of Ceremonies
Ron Paul Former - Congressman, Author of 'End the Fed'
Andrew Napolitano - Senior Judicial Analyst for Fox News
David Icke - Ground breaking Author & Public Speaker
Doug Casey - Founder of Casey Research
Cynthia McKinney - Activist, Former US Representative
Jeff Berwick - Founder of Anarchapulco, The Dollar Vigilante, and Anarchast
Dayna Martin - Author, Speaker, Midwife, Unschooling & Peaceful Parenting Advocate
Derrick Broze - Creator, The Conscious Resistance Network
Luke Rudkowski - Journalist, Founder of WeAreChange.org
Max Igan - Host of The Crowhouse
G. Edward Griffin - Author of 'Creature from Jekyll Island'
Mark Passio - Independent Researcher
Sasha Daygame - Author, Men’s Coach, Spiritual Adventurer
Ole Dammegard - Truth Seeker, Code Breaker, and Peace Maker
Thaddeus Russell - Historian, Podcaster, Founder of Renegade University
Anil Gupta - Author of 'Immediate Happiness'
Brien Foerster - Author of 'Lost Ancient Technology'
Eric July - Frontman of BackWordz, Co-founder of Being Libertarian
Matt Phillips - Past President of Free State Project, Ambassador, Activist, Entrepreneur - Dr. Sherri Tenpenny
Physician Entrepreneur & Vaccine Activist
Vit Jedlicka - President of Liberland
Joe Quirk - President of The Seasteading Institute
Becca Tzigany - Activist & Author, Venus and Her Lover
Joel Bowman - International Man
Jonny Dupre - Psycho-Social Coach & Trainer - The International Man
Vin Armani - CryptoSavage
Avens O'Brien - 2nd Generation Liberty Activist
Tim Moen - Leader of the Libertarian Party of Canada
Gina Carr - Blockchain Company Leader, Author, Emerging Technology Expert
Tata Meche, José Merced Velazquez Pañeda Tata - Town Elder, Cheran, Michoacan
There are even more announcements soon, including Larken Rose and many more. And, we haven’t announced the Cryptopulco speaker list yet. It should come out in the next week. You won’t want to miss it.
Anarchapulco will likely sell out by January. And all 1,000 rooms in the Princess Hotel are already close to sold out, so if you want to stay on premises, make sure to book your room now. If you miss it, don’t worry, we’ll likely be filling up a hotel nearby down the beach too!
And, don’t worry about what might happen in the future. Live in the present. Own some precious metals and cryptocurrency. Work on yourself, physically, mentally and spiritually. And spend more time with your loved ones.
Everything else will work itself out.
Now, I’m going to go watch Lord of the Rings with my wife and kids. “Hey kids, did you know that ring of power is an allegory for central banks and government?”
Thank you, as always, for being a subscriber!
Jeff Berwick
submitted by 2012ronpaul2012 to conspiracyundone [link] [comments]

Bitcoin & Bitcoin Cash - A Conspiracy Theory

The following is a recent excerpt from Jeff Berwick...
BITCOIN & BITCOIN CASH - A CONSPIRACY THEORY
I think there is a reasonably likely conspiracy theory to do with Bitcoin and its most recent fork.
As many know, many of the core bitcoin developers work for a company called Blockstream. Developers include Adam Back (President, Blockstream), Gregory Maxwell (CTO, Blockstream), Mark Friedenbach (Co-founder, Blockstream), Pieter Wuille (Bitcoin Core developer), Samson Mow (CSO), and Christopher Allen (co-author of IETF Transport Layer Security.
What many may not be aware of is that Blockstream is controlled by the Bilderberg Group. AXA Strategic Ventures, co-lead investor for Blockstream's $55 million financing round, is the investment arm of French insurance giant AXA Group - whose CEO Henri de Castries has been Chairman of the Bilderberg Group since 2012.
At the same time, the most popular Bitcoin reddit, /Bitcoin, has become almost completely censored in the last few years and only allows pro-Blockstream related content.
Blockstream has been resistant to the common sense idea of increasing the Bitcoin block size for years. And this makes perfect sense in that Blockstream’s entire business model is based on creating sidechains which profit from a slow or expensive Bitcoin network.
Finally, some people, including Roger Ver had had enough of this takeover of Bitcoin and thus we have the hard fork and Bitcoin Cash today.
THE CONSPIRACY THEORY
This all gets quite complicated and I won’t bore you with all the details (but I will include lots of links for more information for those of you who want to understand this on a deep level).
But, here is the theory I have come up with in a nutshell.
We know the globalists want to destroy bitcoin. And, we know they can’t do it via their traditional means of sending in government thugs to kill, arrest and steal everything because there is no one central point of failure for bitcoin.
So, if they did want to try to destroy bitcoin what would they do? First they would try to employ as many of the most prominent bitcoin coders. Check.
Then they’d want to try to control the narrative which, for bitcoin, has been centered at /bitcoin, where they now appear to have complete censorship powers against anything competing with Blockstream’s proposals. Check.
They’d then want to subterfugely get code implemented into bitcoin which is a) irreversible and b) a ticking timebomb for BTC’s destruction.
Well, we don’t know yet, but that is exactly what Segwit could be.
As I said, I am not going to include pages of information supporting this theory in this issue as it would get into the hundreds of pages. Instead, I will leave you links to further information.
First, here is a blockchain techie, modprobe, and his concerns about Segwit, “I Looked Into SegWit, and Here's What I Saw .”
Here are some of the most pertinent items he mentioned:
There are two major implications to this hack. The first is that segwit is a one-way ticket: once it starts, it can never be removed because to remove the (insanely complicated) segwit rules that say "Ignore what the transaction says and look at the witness data instead" would leave only the "anyone can spend me without any authorization" rule on all segwit balances. Thus anyone could steal all the coins in segwit balances. To remove segwit, it would either be necessary to keep the (insanely complicated) rules in play, but disallow new transactions to use them, or convince all Bitcoin users to first move their bitcoins to a non-segwit balance. The first isn't really removing segwit, since its rules would still be in use, and the second is simply not going to happen since segwit proponents will lie and censor (just like they're doing now to promote segwit) to scare people away from leaving it behind. The second implication is even more chilling: for the first time, the Bitcoin protocol will have official support for theft of bitcoins. See, the formal rules of bitcoin will be "anyone can spend these coins without authorization," but the segwit rules will say otherwise. This means that anyone who can get a majority of miners to agree to look the other way (i.e. ignore the segwit rules) can send a transaction that spends those bitcoins without authorization, and it will be valid by protocol. At present, if the majority of miners attempted to do this, their blocks would be invalid (and ignored by the network) because they violate the Bitcoin protocol, but with segwit, the Bitcoin protocol will only understand "anyone can spend these coins" so as long as the miners agree to ignore the segwit rules, the transaction will pass checks. Obviously this means that the miners could collude to steal everyone's segwit balances, but more likely, a government could force mining organizations to allow their transactions to steal bitcoins, reverse transactions, or whatever else. Whereas previously this meddling would've been extremely noisy, causing a hard fork (which would have likely been ignored). With segwit, however, theft by miner collusion is a first class feature.
For those who prefer their information in video format rather than text, here is an excellent presentation on the problems with Segwit from the Chief Scientist for Bitcoin Unlimited, Peter Rizun.
To summarize, one could imagine a few scenarios where Segwit had major problems or resulted in the loss/hack/theft of the majority of bitcoins… which would be a virtual death knell for bitcoin. And, yes, it is possible this is being done on purpose.
Segwit will begin to be implemented in about two weeks.
A further “conspiracy theory” is that those behind Bitcoin Cash are doing so as a means to take over control of bitcoin. Here is a good article by bellerophon on Steemit, “The Black Swan That Could Turn Bitcoin Upside Down.”
In it he posits that Bitcoin Cash has been set-up in such a way that miners, out of self-interest, will switch from bitcoin to Bitcoin Cash mining in the coming weeks… which would cause a crash in Bitcoin and spike in Bitcoin Cash.
And yet another more obscure and anonymous theory was posted here.
Here is a snippet from this theory:
The plan goes like this: Chinese miners (f2pool, antpool etc etc) have organised with major exchanges (via/huobi/okcoin etc) to support and launch bitcoin cash. Initially they will let everyone who wants to sell, sell. Once the coin has bottomed out, and everyone who wanted to sell has sold, they [chinese miners/jihad/chinese exchanges] will begin accumulating lots and lots of bitcoin cash. They will then begin to pump the price to around 0.1 BCC/BTC - 10% The big pools won't mine it ~ they will let the smaller pools see the returns from mining this expensive, but low difficulty coin and start mining it. Later, the larger pools will join, and as we know, jihad has ALOT of hashing power, their plan is for bitcoin cash to have more hashing power than bitcoin ~ and lets be honest, once the chinese move over, that is pretty much it. Around this time, the 'hard fork' section of segwit 2x is not going to happen ~ it never was - Bitcoin cash will then be seen as the original NYA coin. At that point in time, Bitcoin cash will be on all major chinese exchanges, possibly some western exchanges aswell, and have majority hashing power. Western companies & other merchant providers (BitPay - @Spair) etc - paid off by bitmain etc will go along with the new bitcoin cash narrative and will push for the 'bitcoin cash' to be called 'bitcoin' on all their platforms, leaving only coinbase et all which will then be the odd ones out.. Now comes the scary part, The old bitcoin, the bitcoin we know and love, is going to get DESTROYED.
As you can see this is a lot to consider… and worry about if you own bitcoin!
For this reason I have suggested all those who held bitcoin on August 1st and received Bitcoin Cash hold on to it for at least the time being.
If any of the above theories play out you’ll be very happy you did. And if none of them play out and Bitcoin Cash goes the way of the Dodo bird it was really ‘free money” anyway.
And, that’s not to mention that if Blockstream continues to make bitcoin more expensive to use that Bitcoin Cash could end up being the currency of choice for day-to-day transactions while legacy bitcoin could be used more as a store of digital wealth and not for microtransactions.
So, it is definitely worth just holding on to your Bitcoin Cash for now.
That leaves the question, should you buy Bitcoin Cash? At the time of this writing it is at $320 and a $5 billion market cap.
It is too early to say how Bitcoin Cash will do so if you do want to buy consider it very speculative.
That said, as you’ll see below, from Ed Bugos, from a strictly free market perspective he is a fan of Bitcoin Cash.
CONCLUSION
At the time of this writing, bitcoin is trading near $3,300 and Bitcoin Cash near $300 for a combined total of $3,600… meaning any/all TDV subscribers who owned bitcoin prior to August 1st have all done very well in recent weeks!
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The New Crypto Order & Escaping Financial Repression

The Vigilante’s View
It is our first issue in months that bitcoin hasn’t hit an all-time high! And it’s the last issue of the year. And what a year for cryptos it was.
To put it in perspective, bitcoin could fall 90% from current levels and it will still have outperformed stocks, bonds and real estate in 2017.
Bitcoin started 2017 at $960.79.
At the time of this writing it is near $13,000 for a gain of 1,250% in 2017.
And, bitcoin was actually one of the worst performing cryptocurrencies in our TDV portfolio in 2017!
Ethereum (ETH) started 2017 at $8. It has since hit over $800 for a nice 10,000% gain in 2017.
That’s pretty good, but not as good as Dash which started the year at $11.19 and recently hit $1,600 for a nearly 15,000% gain.
I hope many of you have participated in these amazing gains! If not, or you are new, don’t worry there will be plenty more opportunities in the years ahead.
It won’t all be just home runs though… in fact, some of the cryptos that have performed so well to date may go down dramatically or collapse completely in the coming years.
I’ll point out further below why Lightning Network is not the answer to Bitcoin Core’s slow speeds and high costs. And, I’ll look ahead to 2018 and how we could already be looking beyond blockchains.
Yes, things are moving so fast that blockchain just became known to your average person this year… and could be nearly extinct by next year.
That’s why it is important to stick with us here at TDV to navigate these choppy free market waters!
New Years Reflection On The Evolution Of Consensus Protocols
Sooner or later crypto will humble you by its greatness. Its vastness is accompanied by a madness that is breathtaking, because you quickly realize that there is no stopping crypto from taking over the world. The moment you think you have everything figured out, is the moment the market will surprise you.
We are for the first time living and witnessing the birth of the first worldwide free market. Throughout this rampage of innovation, we all are implicitly aiming for the best means of harnessing consensus. As we leave this bountiful 2017 and aim at 2018, it is important for us to meditate and appreciate the progress we have made in transforming the world through the decentralization of consensus. It is also important to reflect on the changes in consensus building we have partaken in and those yet to come.
Consensus is the agreement that states “this is what has occurred, and this is what hasn’t happened.”
Throughout the vastness of history, we humans have only really had access to centralized means for consensus building. In the centralized world, consensus has been determined by banks, states, and all kinds of central planners. As our readers know, any centralized party can misuse their power, and their consensus ruling can become unfair. In spite of this, many individuals still praise the effectiveness of consensus building of centralized systems.
People from antiquity have had no other option but to trust these central planners. These systems of control have created still-water markets where only a few are allowed to compete. This lack of competition resulted in what we now can objectively view as slow innovation. For many, centralized consensus building is preferred under the pretense of security and comfort. Unfortunately, these same individuals are in for a whole lot of discomfort now that the world is innovating on top of the first decentralized consensus building technology, the blockchain.
Everything that has occurred since the inception of bitcoin has shocked central planners because for the first time in history they are lost; they no longer hold power. We now vote with our money. We choose what we find best as different technologies compete for our money.
What we are witnessing when we see the volatility in crypto is nothing more than natural human motion through price. The innovation and volatility of the crypto market may seem unorthodox to some, because it is. For the first time in history we are in a true free market. The true free market connects you to everybody and for this reason alone the market shouldn’t surprise us for feeling “crazy.” Volatility is a sign of your connection to a market that is alive. Radical innovation is a sign of a market that is in its infancy still discovering itself.
In juxtaposing centralized consensus building with decentralized consensus building, I cannot keep myself from remembering some wise biblical words; “ And no one pours new wine into old wineskins. Otherwise, the new wine will burst the skins; the wine will run out and the wineskins will be ruined.” – Luke 5:37
The centralized legacy financial system is akin to old wineskins bursting to shreds by the new wine of crypto. Decentralized consensus building has no need for central planners. For example, think about how ludicrous it would be for someone to ask government for regulation after not liking something about crypto. Sorry, there is no central planner to protect you; even the mathematical protocols built for us to trust are now competing against one another for our money.
These new mathematical protocols will keep competing against one another as they provide us with new options in decentralizing consensus. As we look unto 2018, it is important that we as investors begin to critically engage and analyze “blockchain-free cryptocurrencies.”
HASHGRAPHS, TANGLES AND DAGS
Blockchain-free cryptocurrencies are technologies composed of distributed databases that use different tools to achieve the same objectives as blockchains.
The top contenders in the realm of blockchain-free cryptos are DAGs (Directed Acyclic Graphs) such as Swirlds’ Hashgraph, ByteBall’s DAG, and IOTA’s Tangle. These blockchain-free cryptos are also categorized as belonging to the 3 rd generation of cryptocurrencies. These technologies promise to be faster, cheaper, and more efficient than blockchain cryptocurrencies.
Blockchains were the first means of creating decentralized consensus throughout the world. In the blockchain, the majority of 51% determine the consensus. The limits of blockchains stem from their inherent nature, whereupon every single node/participant needs to know all of the information that has occurred throughout the whole blockchain economy of a given coin.
This opens up blockchains to issues akin to the ones we have been exposed to in regards to Bitcoin’s scaling. It is important to make a clear distinction in the language used between blockchains and blockchain-freecryptocurrencies. When we speak about blockchains it is more proper to speak about its transactionconsensus as “decentralized”, whereas with blockchain-free cryptocurrencies it is best if we refer to transaction consensus as “distributed.”
Swirlds’ Hashgraph incorporates a radical and different approach to distributing consensus. Swirlds claims that their new approach will solve scaling and security issues found on blockchains. They use a protocol called “Gossip about Gossip.” Gossip refers to how computers communicate with one another in sending information.
In comparison to the Blockchain, imagine that instead of all of the nodes receiving all of the transactions categorized in the past ten minutes, that only a few nodes shared their transaction history with other nodes near them. The Hashgraph team explains this as “calling any random node and telling that node everything you know that it does not know.” That is, in Hashgraph we would be gossiping about the information we are gossiping; i.e., sending to others throughout the network for consensus.
Using this gossiped information builds the Hashgraph. Consensus is created by means of depending on the gossips/rumors that come to you and you pass along to other nodes. Hashgraph also has periodic rounds which review the circulating gossips/rumors.
Hashgraph is capable of 250,000+ Transactions Per Second (TPS), compared to Bitcoin currently only allowing for 7 TPS. It is also 50,000 times faster than Bitcoin. There is no mention of a coin on their white paper. At this moment there is no Hashgraph ICO, beware of scams claiming that there is. There is however a growing interest in the project along with a surge of app development.
IOTAs DAG is known as the Tangle. Contrary to Hashgraph, IOTA does have its own coin known as MIOTA, currently trading around the $3 mark. There are only 2,779,530,283 MIOTA in existence. The Tangle was also created to help alleviate the pains experienced with Blockchain scaling. IOTAs Tangle creates consensus on a regional level; basically neighbors looking at what other neighbors are doing.
As the tangle of neighbors grows with more participants the security of the system increases, along with the speed of confirmation times. IOTA has currently been criticized for its still lengthy confirmation times and its current levels of centralization via their Coordinators. This centralization is due to the fact that at this moment in time the main team works as watchtower to oversee how Tangle network grows so that it does not suffer from attacks.
Consensus is reached within IOTA by means of having each node confirm two transactions before that same node is able to send a given transaction. This leads to the mantra of “the more people use IOTA, the more transactions get referenced and confirmed.” This creates an environment where transactional scaling has no limits. IOTA has no transaction fees and upon reaching high adoption the transactions ought to be very fast.
Another promising aspect about IOTA is that it has an integrated quantum-resistant algorithm, the Winternitz One-Time Signature Scheme, that would protect IOTA against an attack of future quantum computers. This without a doubt provides IOTA with much better protection against an adversary with a quantum computer when compared to Bitcoin.
ByteBall is IOTA’s most direct competitor. They both possess the same transaction speed of 100+ TPS, they both have their own respective cryptocurrencies, and they both have transparent transactions. ByteBall’s token is the ByteBall Bytes (GBYTE), with a supply of 1,000,000; currently trading at around $700. ByteBall aims to service the market with tamper proof storage for all types of data. ByteBall’s DAG also provides an escrow like system called “conditional payments;” which allows for conditional clauses before settling transactions.
Like IOTA, ByteBall is also designed to scale its transaction size to meet the needs of a global demand. ByteBall provides access to integrated bots for transactions which includes the capacity for prediction markets, P2P betting, P2P payments in chat, and P2P insurance. ByteBall’s initial coin distribution is still being awarded to BTC and Bytes holders according to the proportional amounts of BTC or Bytes that are held per wallet. IOTA, ByteBall and Hashgraph are technologies that provide us with more than enough reasons to be hopeful for 2018. In terms of the crypto market, you don’t learn it once. You have to relearn it every day because its development is so infant. If you are new to crypto and feel lost at all know that you are not alone. These technologies are constantly evolving with new competitive options in the market.
As the technologies grow the ease for adoption is set to grow alongside innovation. We are all new to this world and we are all as much in shock of its ingenuity as the next newbie. Crypto is mesmerizing not just for its volatility which is a clear indication of how connected we are now to one another, but also because of the social revolution that it represents. We are experiencing the multidirectional growth of humanity via the free market.
Meanwhile Bitcoin Is Turning Into Shitcoin
It is with a great degree of sadness that I see bitcoin is on the cusp of destroying itself. Bitcoin Core, anyway. Bitcoin Cash may be the winner from all of this once all is said and done.
Whether by design or by accident, bitcoin has become slow and expensive.
Many people point out that IF the market were to upgrade to Segwit that all would be fine. I’ll explain further below why many market participants have no incentive to upgrade to Segwit… meaning that the implementation of Segwit has been a massively risky guess that so far has not worked.
Others say that the Lightning Network (LN) will save bitcoin. I’ll point out below why that will not happen.
Lightning Networks And The Future Of Bitcoin Core
If you’ve been following bitcoin for any length of time, you’re probably aware of the significant dispute over how to scale the network. The basic problem is that although bitcoin could be used at one time to buy, say, a cup of coffee, the number of transactions being recorded on the network bid up the price per transaction so much that actually sending BTC cost more than the cup of coffee itself. Indeed, analysis showed that there were many Bitcoin addresses that had such small BTC holdings that the address itself couldn’t be used to transfer it to a different address. These are referred to as “unspendable addresses.”
In the ensuing debate, the “big blockers” wanted to increase the size of each block in the chain in order to allow for greater transaction capacity. The “small blockers” wanted to reduce the size of each transaction using a technique called Segregated Witness (SegWit) and keep the blocks in the chain limited to 1MB.
SegWit reduces the amount of data in each transaction by around 40-50%, resulting in an increased capacity from 7 transactions per second to perhaps 15.
The software engineers who currently control the Bitcoin Core code repository have stated that what Bitcoin needs is “off-chain transactions.” To do this, they have created something called Lightning Networks (LN), based on an software invention called the “two-way peg.” Put simply, the two-way peg involves creating an escrow address in Bitcoin where each party puts some bitcoin into the account, and then outside the blockchain, they exchange hypothetical Bitcoin transactions that either of them can publish on Bitcoin’s blockchain in order to pull their current agreed-upon balance out of the escrow address.
Most layman explanations of how this works describe the protocol as each party putting in an equal amount of Bitcoin into the escrow. If you and I want to start transacting off-chain, so we can have a fast, cheap payment system, we each put some Bitcoin in a multi-party address. I put in 1 BTC and you put in 1 BTC, and then we can exchange what are essentially cryptographic contracts that either of us can reveal on the bitcoin blockchain in order to exit our agreement and get our bitcoin funds.
Fortunately, it turns out that the video’s examples don’t tell the whole story. It’s possible for the escrow account to be asymmetric. See:. That is, one party can put in 1 BTC, while the other party puts in, say, 0.0001 BTC. (Core developer and forthcoming Anarchapulco speaker Jimmy Song tells us that there are game theoretic reasons why you don’t want the counterparty to have ZERO stake.)
Great! It makes sense for Starbucks to participate with their customers in Lightning Networks because when their customers open an LN channel (basically a gift card) with them for $100, they only have to put in $1 worth of Bitcoin. Each time the customer transacts on the Lightning Network, Starbucks gets an updated hypothetical transaction that they can use to cash out that gift card and collect their bitcoin.
The elephant in the room is: transaction fees. In order to establish the escrow address and thereby open the LN channel, each party has to send some amount of bitcoin to the address. And in order to cash out and get the bitcoin settlement, one party also has to initiate a transaction on the bitcoin blockchain. And to even add funds to the channel, one party has to pay a transaction fee.
Right now fees on the bitcoin blockchain vary widely and are extremely volatile. For a 1-hour confirmation transaction, the recommended fee from one wallet might be $12 US, while on another it’s $21 US. For a priority transaction of 10-20 minutes, it can range from $22-30 US. Transactions fees are based on the number of bytes in the transaction, so if both parties support SegWit (remember that?) then the fee comes down by 40-50%. So it’s between $6 and $10 US for a one hour transaction and between $11-15 for a 15 minute transaction. (SegWit transactions are prioritized by the network to some degree, so actual times may be faster)
But no matter what, both the customer and the merchant have to spend $6 each to establish that they will have a relationship and either of them has to spend $6 in order to settle out and get their bitcoin. Further, if the customer wants to “top off” their virtual gift card, that transaction costs another $6. And because it adds an address to the merchant’s eventual settlement, their cost to get their Bitcoin goes up every time that happens, so now it might cost them $9 to get their bitcoin.
Since these LN channels are essentially digital gift cards, I looked up what the cost is to retailers to sell acustomer a gift card. The merchant processor Square offers such gift cards on their retailer site. Their best price is $0.90 per card.
So the best case is that Lightning Networks are 600% more expensive than physical gift cards to distribute, since the merchant has to put a transaction into the escrow address. Further, the customer is effectively buying the gift card for an additional $6, instead of just putting up the dollar amount that goes on the card.
But it gets worse. If you get a gift card from Square, they process the payments on the card and periodically deposit cash into your bank account for a percentage fee. If you use the Lightning Network, you can only access your Bitcoin by cancelling the agreement with the customer. In other words, you have to invalidate their current gift card and force them to spend $6 on a new one! And it costs you $6 to collect your funds and another $6 to sell the new gift card!
I’m sure many of you have worked in retail. And you can understand how this would be financially infeasible. The cost of acquiring a new customer, and the amount of value that customer would have to stake just to do business with that one merchant, would be enormous to make any financial sense.
From time immemorial, when transaction costs rise, we see the creation of middlemen.
Merchants who can’t afford to establish direct channels with their customers will have to turn to middlemen, who will open LN channels for them. Instead of directly backing and cashing out their digital gift cards, they will establish relationships with entities that consolidate transactions, much like Square or Visa would do today.
Starbucks corporate or individual locations might spend a few USD on opening a payment channel with the middleman, and then once a month spend 6 USD to cash out their revenues in order to cover accounts payable.
In the meantime, the middleman also has to offer the ability to open LN channels for consumers. This still happens at a fixed initial cost, much like the annual fee for a credit card in the US. They would continue to require minimum balances, and would offer access to a network of merchants, exactly like Visa and MasterCard today.
This process requires a tremendous amount of capital because although the middleman does not have to stake Bitcoin in the consumer’s escrow account, he does have to stake it in the merchant’s account. In other words, if the Lightning Network middleman wants to do business with Starbucks to the tune of $100,000/month, he needs $100,000 of bitcoin to lock into an escrow address. And that has to happen for every merchant.
Because every month (or so) the merchants have to cash out of their bitcoin to fiat in order to pay for their cost of goods and make payroll. Even if their vendors and employees are paid in bitcoin and they have LN channels open with them, someone somewhere will want to convert to fiat, and trigger a closing channel creating a cascading settlement effect that eventually arrives at the middleman. Oh, and it triggers lots of bitcoin transactions that cost lots of fees.
Did I mention that each step in the channel is expecting a percentage of the value of the channel when it’s settled? This will come up again later.
Again, if you’ve worked in the retail business, you should be able to see how infeasible this would be. You have to buy inventory and you have to sell it to customers and every part that makes the transaction more expensive is eating away at your margins.
Further, if you’re the middleman and Starbucks closes out a channel with a $100,000 stake where they take $95,000 of the bitcoin, how do you re-open the channel? You need another $95,000 in capital. You have revenue, of course, from the consumer side of your business. Maybe you have 950 consumers that just finished off their $100 digital gift cards. So now you can cash them out to bitcoin for just $5700 in transaction fees, and lose 5.7% on the deal.
In order to make money in that kind of scenario, you have to charge LN transaction fees. And because your loss is 5.7%, you need to charge in the range of 9% to settle Lightning Network transactions. Also, you just closed out 950 customers who now have to spend $5700 to become your customer again while you have to spend $5700 to re-acquire them as customers. So maybe you need to charge more like 12%.
If you approached Starbucks and said “you can accept Bitcoin for your customers and we just need 12% of the transaction,” what are the odds that they would say yes? Even Visa only has the balls to suggest 3%, and they have thousands and thousands of times as many consumers as bitcoin.
The entire mission of bitcoin was to be faster, cheaper and better than banks, while eliminating centralized control of the currency. If the currency part of Bitcoin is driven by “off-chain transactions” while bitcoin itself remains expensive and slow, then these off-chain transactions will become the territory of centralized parties who have access to enormous amounts of capital and can charge customers exorbitant rates. We know them today as banks.
Even for banks, we have to consider what it means to tie up $100,000/month for a merchant account. That only makes sense if the exchange rate of bitcoin grows faster than the cost of retaining Bitcoin inventory. It costs nothing to store Bitcoin, but it costs a lot to acquire it. At the very least the $6 per transaction to buy it, plus the shift in its value against fiat that’s based on interest rates. As a result, it only makes sense to become a Lightning Network middleman if your store of value (bitcoin) appreciates at greater than the cost of acquiring it (interest rate of fiat.) And while interest rates are very low, that’s not a high bar to set. But to beat it, Bitcoin’s exchange rate to fiat has to outpace the best rate available to the middleman by a factor exceeding the opportunity cost of other uses of that capital.
Whatever that rate is, for bitcoin, the only reason the exchange rate changes is new entry of capital into the “price” of bitcoin. For that to work, bitcoin’s “price” must continue to rise faster than the cost of capital for holding it. So far this has happened, but it’s a market gamble for it to continue.
Since it happens because of new capital entering into the bitcoin network and thus increasing the market cap, this results in Bitcoin Core becoming the very thing that its detractors accuse it of: a Ponzi scheme. The cost of transacting in Bitcoin becomes derived from the cost of holding bitcoin and becomes derived from the cost of entering bitcoin.
Every middleman has to place a bet on the direction of bitcoin in a given period. And in theory, if they think the trend is against Bitcoin, then they’ll cash out and shut down all the payment channels that they transact. If they bought bitcoin at $15,000, and they see it dropping to $13,000 — they’ll probably cash out their merchant channels and limit their risk of a further drop. The consumer side doesn’t matter so much because their exposure is only 1%, but the merchant side is where they had to stake everything.
If you’re wondering why this information is not widely known, it’s because most bitcoin proponents don’t transact in bitcoin on a regular basis. They may be HODLing, but they aren’t doing business in bitcoin.
Through Anarchapulco, TDV does frequent and substantial business in bitcoin, and we’ve paid fees over $150 in order to consolidate ticket sale transactions into single addresses that can be redeemed for fiat to purchase stage equipment for the conference.
For Bitcoin to be successful at a merchant level via Lightning Networks, we will have to see blockchain transactions become dramatically cheaper. If they return to the sub-$1 range, we might have a chance with centralized middlemen, but only with a massive stabilization of volatility. If they return to $0.10, we might have a chance with direct channels.
Otherwise, Lightning Networks can’t save bitcoin as a means of everyday transaction. And since that takes away its utility, it might very well take away the basis of its value and bitcoin could find itself truly being a tulip bubble.
One final note: there are a some parties for whom all these transactions are dramatically cheaper. That is the cryptocurrency exchanges. Because they are the entry and exit points for bitcoin-to-fiat, they can eliminate a layer of transaction costs and thus offer much more competitive rates — as long as you keep your bitcoin in their vaults instead of securing it yourselves.
Sending it out of their control lessens their competitive advantage against other means of storage. It comes as no surprise, then, that they are the least advanced in implementing the SegWit technology that would improve transaction costs and speed. If you buy bitcoin on Poloniex, it works better for them if it’s expensive for you to move that coin to your Trezor.
In fact, an exchange offering Lightning Network channels to merchants could potentially do the following…
1) Stake bitcoins in channels with merchants. These coins may or may not be funds that are held by their customers. There is no way to know.
2) Offer customers “debit card” accounts for those merchants that are backed by the Lightning network
3) Establish middle addresses for the customer accounts and the merchant addresses on the Lightning Network.
4) Choose to ignore double-spends between the customer accounts and the merchant addresses, because they don’t actually have to stake the customer side. They can just pretend to since they control the customer’s keys.
5) Inflate their bitcoin holdings up to the stake from the merchants, since the customers will almost never cash out in practice.
In other words, Lightning Networks allow exchanges a clear path to repeating Mtgox; lie to the consumer about their balance while keeping things clean with the merchant. In other words, establish a fractional reserve approach to bitcoin.
So, to summarize, Bitcoin Core decided increasing the blocksize from 1mb to 2-8mb was “too risky” and decided to create Segwit instead which the market has not adopted. When asked when bitcoin will be faster and less expensive to transfer most Bitcoin Core adherents say the Lightning Network will fix the problems.
But, as I’ve just shown, the LN makes no sense for merchants to use and will likely result in banks taking over LN nodes and making BTC similar to Visa and Mastercard but more expensive. And, will likely result in exchanges becoming like banks of today and having fractional reserve systems which makes bitcoin not much better than the banking system of today.
Or, people can switch to Bitcoin Cash, which just increased the blocksize and has much faster transaction times at a fraction of the cost.
I’ve begun to sell some of my bitcoin holdings because of what is going on. I’ve increased my Bitcoin Cash holdings and also increased my holdings of Dash, Monero, Litecoin and our latest recommendation, Zcash.
Other News & Crypto Tidbits
When bitcoin surpassed $17,600 in December it surpassed the total value of the IMF’s Special Drawing Rights (SDR) currency.
Meanwhile, Alexei Kireyev of the IMF put out his working paper, “ The Macroeconomics of De-Cashing ,” where he advises abolishing cash without having the public aware of the process.
Countries such as Russia are considering creating a cryptocurrency backed by oil to get around the US dollar and the US dollar banking system. Venezuela is as well although we highly doubt it will be structured properly or function well given the communist government’s track record of destroying two fiat currencies in the last decade.
To say that the US dollar is being attacked on every level is not an understatement. Cryptocurrencies threaten the entire monetary and financial system while oil producing countries look to move away from the US dollar to their own oil backed cryptocurrency.
And all this as bitcoin surpassed the value of the IMF’s SDR in December and in 2017 the US dollar had its largest drop versus other currencies since 2003.
And cryptocurrency exchanges have begun to surpass even the NASDAQ and NYSE in terms of revenue. Bittrex, as one example, had $3 billion in volume on just one day in December. At a 0.5% fee per trade that equaled $15m in revenue in just one day. If that were to continue for 365 days it would mean $5.4 billion in annual revenue which is more than the NASDAQ or NYSE made this year.
Conclusion
I never would have guessed how high the cryptocurrencies went this year. My price target for bitcoin in 2017 was $3,500! That was made in late 2016 when bitcoin was near $700 and many people said I was crazy.
Things are speeding up much faster than even I could have imagined. And it is much more than just making money. These technologies, like cryptocurrencies, blockchains and beyond connect us in a more profound way than Facebook would ever be able to. We are now beginning to be connected in ways we never even thought of; and to some degree still do not understand. These connections within this completely free market are deep and meaningful.
This is sincerely beautiful because we are constantly presented with an ever growing buffet of competing protocols selling us their best efforts in providing harmony within the world. What all of these decentralized and distributed consensus building technologies have in common is that they connect us to the world and to each other. Where we are going we don’t need foolish and trite Facebook’s emojis.
As we close a successful 2017 we look with optimism towards a much more prosperous 2018. The Powers That Shouldn’t Be (TPTSB) can’t stop us. As we move forward note how much crypto will teach you about ourselves and the world. In a radical free market making our own bets will continue to be a process of self discovery. Crypto will show us the contours of our fears, the contours of our greed, and will constantly challenge us to do our best with the knowledge we have.
Remember, randomness and innovation are proper to the happenstance nature of a true digital free market.
Happy New Year fellow freedom lovers!
And, as always, thank you for subscribing!
Jeff Berwick
submitted by 2012ronpaul2012 to conspiracy [link] [comments]

Owning and using Bitcoin is not a crime, but that is what FinCEN regulation is attempting to make it.

Bitcoin miner = money transmitter
From FinCEN: "a person that creates units of convertible virtual currency and sells those units to another person for real currency or its equivalent is engaged in transmission to another location and is a money transmitter" In other words, if you mine bitcoins, FinCEN is trying to make you a money transmitter and subject you to all the heavy handed regulations.
Bitcoin exchange = money transmitter
From FinCEN: "a money transmitter if the person accepts such de-centralized convertible virtual currency from one person and transmits it to another person as part of the acceptance and transfer of currency, funds, or other value that substitutes for currency"
money transmitter = $25m bond and onerous regulation
From Jeff Berwick's resignation: "Specifically, in the US and Europe, there are an incredible amount of banking, money and even telecommunications rules and regulations that would have to be adhered to if the company had any hope of survival. Not least of which was a $25 million "insurance bond" necessary as being deemed a "money transmitter" in the US."
Don't be fooled. The FinCEN ruling is veiled attempt at making bitcoin use a crime via arbitrary rules and regulations. It is a natural right to exchange goods and services, and one does not need to beg for permission to engage in such activity. The real criminals in such exchanges would be the ones jailing people for victimless activities.
submitted by BobbyLarken to Bitcoin [link] [comments]

The early May dip : 3 reasons why Bitcoin is presently tanking.

The past couple of days have seen a substantial dip in the value of Bitcoin. From a high of 140$US on May 1st to a present value of 98$US and dropping. Some of you may be asking why the sudden decrease in value? IMHO these are 3 reasons for which I believe we are seeing such a decline.
However, taking all of this into account for the time being does not mean that you too should join the panicking herd of sellers. I believe the smart thing to do is get fiat into the exchange, preferbly neither Mt. Gox nor CoinLab. ( There are plently of alternatives out there: btc-e, bitstamp, cavirtex, libertybit ) This way you are ready to buy when the price gets low.
There will be an upward trend in the coming weeks of May. I say this because I believe in the fundamentals of Bitcoin. An open-source, entirely transparent form of currency that only I control and can access. I think that the vast amount of functionality that can arise from the Bitcoin protocol such as built-in escrow and contract agreements will improve Bitcoin once fully implemented. Other than Bitcoin's fundamentals it has strong support from a number of promising start ups including Coinbase, Buttercoin, Opencoin, Bitpay among many others to come!
So be prepared to buy low if you want to increase you stake in Bitcoins future. Following the Bitcoin2013 convention; awareness will spread and I predict a sudden surge in Bitcoins value. That's my 2mBTC!
Edit (May 3rd 2013): I did not think this post would get so much attention. The main point was to bring up some of the most recent controversial antics in the Bitcoin world which point to the downward trend we've been seeing the past few days. There are other underlying causes for this as well albeit less important than the ones I've highlighted. ( Jeff Berwick leaving the BitcoinATM team and not to mention the extreme market manipulation by bots. ) With these points illustrated I wanted to express the fresh buying opportunities that we a presently seeing. All of these sticky situations wills dissolve from our minds very soon and when that happens the price will go up. These actions that caused the Bitcoin price to dwindle will only weed out the weak hands looking for a quick buck and give cheap buying opportunity to those who actually believe that Bitcoin will strive due to its properties and potential as a global currency/commodity. We are still in the beginning chapters of Bitcoin. It will take a substantial amount of time and events to overcome until we can witness something we can refer to as stable for Bitcoin. Until then the hardcore speculators and sketched out Bitcoin users will continue to sell and the strong hands of Bitcoiners who have faith in it's success will continue to buy or hold.
submitted by dalessandrew to Bitcoin [link] [comments]

"The Big Picture" - Dollar Vigilante November Newsletter

It has been an interesting week for me.
First, I was invited to speak at World Crypto CON in Las Vegas and then shortly before the event they told me I couldn’t speak. At the same time they told most of my other anarchist friends they also couldn’t speak and/or they were banned from the event, including Ben Swann, Luke Rudkowski and Josh Sigurdson of World Alternative Media.
I was already in Texas for the Texas Bitcoin Conference and I mostly just wanted to play in their crypto poker tournament anyway so I went to Vegas.
All manner of strange people seemed to be coming up to me, including one woman speaking in tongues. And, a weird energy surrounded the event... so much so that my body was shaking the entire time.
Then they also didn’t allow me to play in the poker event! I paid one guy some BTC to buy his chips and they threatened to call the police on me! I know what happens next when that happens so I left the premises.
Later that night, Josh Sigurdson was poisoned and barely survived. Other anarchists I knew who were there were being accosted, having their phones stolen and other aggressions.
I should mention this all occurred on Halloween. Day of the dead. Whatever happened, karma struck instantly and no one showed up! I then got a message from my wife that she wanted me to come home immediately and I was happy to do so.
She told me that God told her that we had to tell everyone to repent immediately before it was too late and she went into two days of screaming, crying and became delirious after three days without eating or sleeping.
Eventually we had to get her to the hospital to get her calmed down. I’ve spent the last two days with her there and we just returned home as they gave her a number of things to relax her.
Is something strange going on? It sure feels like it. In any case, as I stated in the last newsletter, no matter what happens I am just going to continue on with my work (although spending more time with my family is also a priority) helping people to wake up... that’s all I can do.
Current Events
As I write it is the midterm selections in the USSA. Yet another, “most important election in our lifetime.” All fear propaganda to try to make believe that voting will fix this evil system of slavery. It won’t. But, when they say this is the "election of our lifetimes" they are right on one thing. Politics, central banks and government are very close to destroying the entire world.
Elect to walk away from it all now before it is too late. I know I don’t have to tell TDVers that but it is worth reiterating.
And, the results are in. Anarchy won like it has every single selection.
And the wars continue killing or destroying the lives of millions of innocents, Americans continue to get extorted for trillions of dollars per year, millions of innocents remain in cages in rape camps and the Federal Reserve continues to impoverish and steal from everyone.
Meanwhile, in things that actually matter, the battle over bitcoin has hastened dramatically. But, you wouldn’t know it from the price action.
The complete lack of volatility has only gotten worse (or better if you are in the “volatility is bad for bitcoin” camp).
Here is a chart of bitcoin on October 27th.
For a 24 hour period it traded within a $15 band! It’s like the whole world is just waiting to see what happens next.
And, what will happen next? I am still expecting a panic sell-off along with all worldwide markets followed by a price explosion.
We did make it through October without that happening, but I have pointed out November is also a prime month for it to occur. If nothing major occurs in November then I may have to reassess.
The US stock markets continue to hang in there but really only propped up by a minority of stocks as this tweet from early October points out.
Bank stocks, which are probably one of the most important to watch are off 17% from January of this year.
Meanwhile, crypto exchange Binance made more profit than Deutsche Bank in the second quarter of this year!
As I said last issue, things really couldn’t be going better for the cryptospace, right as it appears that bank stocks and the market as a whole is on the verge of collapse.
On October 26th, the CEO of Visa, Al Kelly, said that he “certainly” does not view cryptocurrencies as a threat to his business right now, but added that “if we have to go there, we’ll go there.”
You’ll have to go there Kelly... better start working on your resume. Taiwanese smartphone maker HTC is about to release its first blockchain-powered handset in cryptocurrencies, making it the first big name in the industry to accept only digital currencies as payment.
Exodus 1, the first version of HTC’s blockchain phone, is priced at 0.15 BTC or 4.78 ETH, which in current trading equates to about US$960.
HTC first announced the Exodus phone in May, which features a built-in digital wallet that will enable users to store and trade cryptocurrencies.
But, the game changing news is that ICE, the owner of the New York Stock Exchange, has announced they will launch their new digital asset platform, Baakt, on December 12th. This will enable traditional institutional investors to easily invest into the bitcoin market.
The total bitcoin market right now is about a $110 billion market cap.
Total value of financial asset worldwide is estimated to be over $300 trillion. Which means bitcoin is only 0.03% of total financial assets held in the world.
If, say, only 1% of that $300 trillion were to go into bitcoin, that would mean $3 trillion would be trying to enter a market worth $100 billion.
In other words, if you don’t own bitcoin and other cryptos by December 12th... don’t do that. And, don’t forget precious metals either.
FinIst analyst Denis Lisitsyn recently said on RT, “The aggressive US policy in recent years has forced some countries to look for an alternative to the dollar and replenish their gold reserves. Worries about the future growth of global economy are an additional incentive for purchases. Many question Donald Trump’s protectionism.”
Sounds like he has been listening to TDV’s Ed Bugos!
In the same article, Vladimir Rojankovsky, LIFA, expert at the International Financial Center said that Hungary, Poland, Russia, China, India, Turkey and Saudi Arabia are all hoarding gold.
This, after Russian ownership of US Treasury bonds dropped from $96.1 billion in March to an 11-year low of $14.9 billion in May.
The writing is on the wall. And almost the entire public has no idea what is happening.
Luckily you do, so stick with us here as we give you are best guidance on how to survive and prosper during and after the dollar collapse.
And get right with your family and God. I’ve had a few moments in the last week where I thought it might be all over and each time I felt despondent knowing I still haven’t done enough. Don’t wait too long.
Coming Events
Due to my wife being in the hospital recently I cancelled going to Steemfest in Poland. I was also going to go to Iran and Iraq on that trip. But, I’ve decided family has to come before work in this respect.
Which means, really, my next major events are close to home with the TDV Summit on February 12-13th and Anarchapulco/Cryptopulco from February 14-17th.
I couldn’t help notice that World Crypto Con, which seemed to be out to kill all of us anarchists, was on October 31st and Anarchapulco starts on Valentine’s Day. Because it is really all about love.
If you haven’t checked out the TDV Summit page lately, check it out. We’ve added a number of great speakers and I still have a few surprises to announce. It is two full days this year and I am able to focus on it fully for the first time as we have a professional management team running Anarchapulco now. And, included in the price is a gala dinner to be held on the evening of February 12th.
And, Anarchapulco just released its main stage speaker list (there will be 5 stages this year). It’s quite the list! Jeffrey Tucker - Anarchapulco Master of Ceremonies
Ron Paul Former - Congressman, Author of 'End the Fed'
Andrew Napolitano - Senior Judicial Analyst for Fox News
David Icke - Ground breaking Author & Public Speaker
Doug Casey - Founder of Casey Research
Cynthia McKinney - Activist, Former US Representative
Jeff Berwick - Founder of Anarchapulco, The Dollar Vigilante, and Anarchast
Dayna Martin - Author, Speaker, Midwife, Unschooling & Peaceful Parenting Advocate
Derrick Broze - Creator, The Conscious Resistance Network
Luke Rudkowski - Journalist, Founder of WeAreChange.org
Max Igan - Host of The Crowhouse
G. Edward Griffin - Author of 'Creature from Jekyll Island'
Mark Passio - Independent Researcher
Sasha Daygame - Author, Men’s Coach, Spiritual Adventurer
Ole Dammegard - Truth Seeker, Code Breaker, and Peace Maker
Thaddeus Russell - Historian, Podcaster, Founder of Renegade University
Anil Gupta - Author of 'Immediate Happiness'
Brien Foerster - Author of 'Lost Ancient Technology'
Eric July - Frontman of BackWordz, Co-founder of Being Libertarian
Matt Phillips - Past President of Free State Project, Ambassador, Activist, Entrepreneur - Dr. Sherri Tenpenny
Physician Entrepreneur & Vaccine Activist
Vit Jedlicka - President of Liberland
Joe Quirk - President of The Seasteading Institute
Becca Tzigany - Activist & Author, Venus and Her Lover
Joel Bowman - International Man
Jonny Dupre - Psycho-Social Coach & Trainer - The International Man
Vin Armani - CryptoSavage
Avens O'Brien - 2nd Generation Liberty Activist
Tim Moen - Leader of the Libertarian Party of Canada
Gina Carr - Blockchain Company Leader, Author, Emerging Technology Expert
Tata Meche, José Merced Velazquez Pañeda Tata - Town Elder, Cheran, Michoacan
There are even more announcements soon, including Larken Rose and many more. And, we haven’t announced the Cryptopulco speaker list yet. It should come out in the next week. You won’t want to miss it.
Anarchapulco will likely sell out by January. And all 1,000 rooms in the Princess Hotel are already close to sold out, so if you want to stay on premises, make sure to book your room now. If you miss it, don’t worry, we’ll likely be filling up a hotel nearby down the beach too!
And, don’t worry about what might happen in the future. Live in the present. Own some precious metals and cryptocurrency. Work on yourself, physically, mentally and spiritually. And spend more time with your loved ones.
Everything else will work itself out.
Now, I’m going to go watch Lord of the Rings with my wife and kids. “Hey kids, did you know that ring of power is an allegory for central banks and government?”
Thank you, as always, for being a subscriber!
Jeff Berwick
submitted by 2012ronpaul2012 to C_S_T [link] [comments]

Amanda to Present Evolution at Anarchapulco's “Cryptopulco”

Reimbursement to Amanda B. Johnson and Pete Eyre for travel and lodging in Acapulco, Mexico, where Amanda will present DASH Evolution at Anarchapulco's special day of “Cryptopulco” on February 28th. Pete will record presentation and upload it to YouTube the same day.
Details:
Anarchapulco – billed as the world's first and largest anarcho-capitalist conference – is in its third year. The four-day event is expected to attract 700-1,000 attendees. Cryptocurrency has proven so popular a topic in the past that this year, it gets its own full day.
Speakers already slated for Cryptopulco include Roger Ver, Dan Larimer, and Jeffrey Tucker. Anarchapulco founder Jeff Berwick has recently invited Amanda to represent Dash in this lineup. Amanda and Pete's conference admission has been comp'ed.
We've already booked travel and lodging to lock-in the lowest prices.
Costs:
Total: 139 DASH
Notes:
[Original post at DashCentral]
submitted by Amanda_B_Johnson to dashpay [link] [comments]

My thoughts on the Bitcoin in the Beltway conference after Saturday

Continuation from last day.
So today we got to experience the meat of the conference. The exhibition hall and the main presentation space was all in one room, which was a bit odd. We had booths from such companies like BitPay, Bitcoin not Bombs, BLF, Antminer, Gridseed, Sovereign BTC, Mycelium, Collage Crypto Network, Coin Outlet, SAE, Open Bazaar, CoinVox Fibonacci and a few others. Overall okay, although there was definitely a decent amount of space left if more companies would sign up.
Saturday was started by Jason and Elizabeth in a short introduction. After that we had people from the MIT Bitcoin Project talking a bit about their experience. Since the main presentations were taking place next to the exhibitions, initially there were people talking over the speakers a bit on the side, but after some time things settled and all the attention was going to the speakers in the room when they were presenting.
Next up was Andreas' talk about The Future of Cryptocurrency. With the crazyness of the day at this point I don't remember the details about this talk and I wouldn't want to misrepresent what was said exactly. Andreas definitely drew a crowd and got everyone's attention.
The talk after this was "Bitcoin: The Bullet That Will Destroy the District of Criminals" by Jeff Berwick. It felt less rehearsed than what Andreas has presented and was a bit less cohesive. Overall, didn't leave a lasting impression on me, sorry.
Afterwards, we had an "Altcoin throwdown", a bit of an improvised panel to talk about a few coins of choice. We had Tatiana Moroz representing her Tatiana Coin, three representatives from Blackcoin Pool, myself talking about Ripple from a developer's perspective, as well as people from NXT, Counterparty and Permacredits (I hope I didn't forget anyone). We presented our respective coins, then answered questions from the audiance about such topics as what benefit does a branded coin like Tatiana Coin give to the artist (higher involvement from the fans), what is the easiest way to create an altcoin for oneself (either through automated systems to generate a copycoin or embedding the coin in a Crypto 2.0 system), how to get banking institutions to integrate Crypto 2.0s into their system (make it easy for them to use it and explain it to them in a way they can understand it), as well as what will happen with distributed exchanges if one of them would start to dominate (some markets might exist on one exchange while other markets might exist on another - there might not be just one distributed exchange that will be used. Allowing for easy way to move money between those exchanges might be important).
The next panel I attended was on Bitcoin 100 - an organization that helps charities accept Bitcoin donations and gives them $1000 to get started. You could learn about the general history and status of the project (which can be looked up on the website, so I won't repeat it here). Overall, they are still accepting new charities, so if you know some organization that could benefit from this (especially in third world countries), be sure to get them in touch with Bitcoin 100.
Next up, "How to Talk to Reporters about Bitcoin". We heard a few stories about peoples' experience with talking to the media and also how to approach them. Overall - have a quick sound byte of what Bitcoin is ready at all times, be sure to explain things clearly, your words can always be taken out of context. If you're talking to journalists that are Bitcoin-focused and want to pitch your project, be sure to make their life as easy as possible by providing them with clear information about your project and your story. It makes life easier for everyone.
The next panel for me was "Bitcoin business panel". Speakers talked about their experience starting Bitcoin businesses and getting started with Bitcoin in general. Re-investing the money back into Bitcoin appears to be a big focus - whether it's by paying one's employees and suppliers in Bitcoin or investing in infrastructure in general.
After that Jeffrey Tucker gave his talk on "Monetary Systems: Top Down or Bottom Up". He talked about how he got started with Bitcoin, how it is easy to be dismissive of Bitcoin initially, but once you see how it works it can be an exhilarating experience.
The talk that got everyone excited was "500 Years of Liberalism from the Netherlands to Cryptocurrency" by Patrick Byrne from Overstock. Being a philosopher, he walked us through many philosophical ideas that run on our society like an operating system, as well as philosophies that are more like viruses. We went through a few ideas people expressed over the years about what people and society should be striving for - whether it was the pursuit of one's own happiness, obeying some government to decide what one should be doing and so forth. In the end, the talk tied back to bitcoin through Kensian / Austrian economics. Everyone enjoyed the talk and gave Patrick standing ovations.
After a long break, the evening finished by Zhou Thonged and YT Cracker performing live songs for everyone. Some people like Jason really got into the mood ;). A lot of fun, although it was a pity the performance started 45 minutes late...
So overall, it was a good day. The organization of the rooms left a bit to be desired, but generally I can't complain. If you want to see some photos from the day, I tweeted a lot of them here - https://twitter.com/ThePiachu .
submitted by ThePiachu to Bitcoin [link] [comments]

New Currency Accounts almost here

Imagine…
A hybrid personal finance platform that bridges old world banking and new world crypto.
A solution that actually works in favour of Cryptocurrency mass adoption while many of us still depend in various ways on traditional FIAT money…
Yes, it includes Multi Currency Accounts... with REAL debit cards (not prepaid cards)... AND multi-currency crypto wallets
— unified on one platform, manageable via desktop or mobile.
But why?
When the principle of Satoshi’s original post was against the credit bubbles and control of centralised banking: https://imgur.com/a/udm3a
Centralised vs Decentralised:
Andreas Antonopoulos recently described a necessary return to centralised banking services using cross-chain payment rails to ensure crypto payments are kept low, while bitcoin itself serves as a storage of value. Making each individual their own ‘central bank’ in control of their own financial wellbeing and mastery, while tapping in to various global services as desired.
Giving people the ability to choose the level of privacy, autonomy, and access they want based on their own unique situation, and the current stage of global blockchain adoption.
(One example of Andreas discussing off-chain banking is at at 18:20 on https://www.youtube.com/watch?time_continue=2&v=AecPrwqjbGw)
And Wirex is working hard to deliver on that vision of hybrid crypto-friendly banking services that position each individual as their own ‘central bank’.
*Just a fantasy? *
No, just a matter of time as blockchain projects develop over the next few years.
We believe crypto-friendly banking serves the 2018 market to encourage mass adoption.
Today, we’re excited to announce early details of an entirely new fully-integrated crypto finance solution that will be available in Q1:
The old approach used by crypto-card providers until today required a complex web of suppliers and integration partners:
https://imgur.com/a/XMXQf
Wirex has now simplified the ecosystem by building on top of the W-PAY blockchain platform developed for our business partners and liquidity providers:
https://imgur.com/a/Q3dsi
We fully understand that this solution is not built for everyone here as many of you are very well versed in the world of cryptos and know how to store and spend your crypto like a pro.
However, many others in the community share our belief in achieving mass adoption of cryptos.
In our minds, the best way to help implement mass adoption is to make navigating through the crypto space as user friendly as possible and we believe the best way to do this is to become the first global hybrid banking solution in support of cryptos.
Is this another ICO?
Thankfully no. Debit card and crypto banking ICOs have been done way too much recently.
As the very first bitcoin debit card and mobile app provider, building the systems and infrastructure for regulatory compliance and scalability has not been easy. Then our main card issuer had to restrict card accounts only to EU countries. Thousands of our customers around the world left without the convenience of our bitcoin-fundable debit card.
We had only just re-issued tens of thousands of cards at our expense due to a required change from MasterCard to VISA when new restrictions of EU-only were given to us. With new licensing agreements still in process we could no longer serve the majority of our cherished customers around the world — many who’ve been with us since the beginning!
Including noteable influencers in their own areas like Jeff Berwick (The Dollar Vigilante), Tijo (Arcane Bear), and more. Others who would prefer to remain anonymous. Due to new compliance, we can’t even call our old product a ‘bitcoin debit card’ as technically the card does not hold bitcoin, it holds fiat.
These same challenges are also being faced by our competitors, both the new ICO startups and the older copycat projects.
Today we believe we have achieved another industry first and important contribution to the community with the launch of a new Wirex crypto currency finance platform, including Virtual Cards, and contactless plastic cards coming soon. Old style prepaid payment cards funded by bitcoin exchange is old technology.
We believe mainstream adoption of cryptocurrencies begins in a big way by mid-2018. And we appreciate all of the support as well as the pushback and challenge from the super-intelligent and committed crypto community. As investors, consumers, service providers and enthusiasts, we are witness to the paradigm shift from old fiat banking systems to a new world of blockchain tech.
Zero-Fee Bitcoin Transfers:
Off-chain transfers between customer accounts allows us to drop blockchain fees to zero for you and any friends, family or contacts who use a Wirex account. Our off-chain Segwit bitcoin addresses give the best of both worlds.
Private Keys:
Of course, we recommend holding your own private keys for your main store of crypto. We recommend running your own node and keeping all 150 gigs of the blockchain stored on a hard drive, or using something like a Nano Ledger hardware wallet. Only keep crypto on an exchange or 3rd party wallet account because you are either trading it, spending it, or sending it (as noted above: Wirex off-chain SegWit enabled wallet allows customer to customer transfers at zero blockchain fee).
Practical Crypto-Friendly Banking For Today’s Market:
Wirex is focused on providing the most practical crypto-friendly finance platform for everyday life. This means our products can be understood and used by people who are new to cryptocurrency. The passion at the Wirex office is all about bringing bitcoin to the mainstream. We want blockchain innovation to thrive. And hopefully you’ll enjoy the new bank account facilities too.
The new Wirex Account combines the familiarity of real banking services with the extra solutions and opportunities of multiple cryptocurrency wallets.
Multi-Crypto Wallets:
New wallets will be integrated. Dash and Litecoin first. Then others. As fast as we can.
Combined on one single seamless platform, you can now open a crypto friendly bank account and benefit from our real debit cards with no top up fees.
Support from the crypto community helps us reach the masses who are brand new to bitcoin with new educational programs and practical crypto financial management.
But we're not here to make a quick $30 million from ICO. We’re here to build a comprehensive blockchain finance platform for all. We're here for the 1,000,000 customer registrations who have used our old bitcoin wallet and debit card services over the past few years. Many who were put off due to compliance issues beyond our control, but issues that we take to heart and feel a lot of empathy for. Remember, we are crypto enthusiasts too and want to enjoy the same products that you do!
Mainstream adoption means higher cryptocurrency prices (BTD and HODL), greater innovations, lower cost services, better digital asset management, and who knows… we may find opportunity to do a worthwhile ICO in the future for something bigger and better than just crypto cards.
Join the Currency Account waitlist today and you’ll be front-of-line when we get final approval to open accounts from the compliance and developer departments.
https://wirexapp.com/wirex-bank-accounts-almost/
Team Wirex
submitted by WirexApp to WirexApp [link] [comments]

10/19: Jeff Berwick outlines in the Dollar Vigilante the New Crypto Order including: XBT, ETH, EOS and the US$ debt transfer.

I’ve said it before and I have to say it again. I am shocked at how fast everything is moving.
When we started The Dollar Vigilante in 2010 we only wrote one issue per month and each month I’d have to think quite hard about the important issues to cover. There just wasn’t that much happening on a month to month basis.
Now, I have to literally filter through dozens of important things that have just occurred and try to select a few of them to focus on or this newsletter would be 100+ pages long.
The crypto space has become an entire topic on its own with so much happening that we are looking to bring on even more people onto the TDV team with a focus on cryptos, ICOs and trading. This will likely result in an add-on newsletter to TDV because just covering this space alone is worth 50 pages per month in research and analysis (I’ll briefly mention a number of interesting developments further below though). Stay tuned for more on that.
In the bitcoin space alone, ignoring all the other cryptos & ICOs, so much has occurred in just the last month.
The criminal Chinese government shut down three of the world’s largest exchanges and banned ICOs. JPMorgan has been attacking bitcoin as a fraud - which is laughable coming from that bunch. And the New York Agreement signatories proceeded further with the scheduled SegWit2x hard fork (which Juan Galt will cover in depth in this issue).
You’d think with all that happening and the uncertainty surrounding yet another bitcoin fork it would have seriously hurt the price of bitcoin.
Nope, bitcoin nearly doubled in the last month. Bitcoin just don’t care.
BITCOIN HITS ALL-TIME HIGHS NEAR $6,000
As I write, bitcoin is trading at $5600 after hitting a new all-time high of $5,844.18 on Sunday.
For the last three months I mentioned numerous times that I liked the short term prospects of bitcoin over the entire cryptocurrency space as a whole. And that has turned out to be correct as bitcoin has risen from a low of 37.82% dominance in the sector in June to 54.45% now.
The total market capitalization of all cryptocurrencies excluding bitcoin has fallen from $97 billion at the beginning of September to $79 billion today.
Meanwhile, bitcoin itself currently sits near $94 billion in market cap. It was only one year ago today that bitcoin had a market cap of just over $10 billion meaning it has increased nearly 1,000% in the last year in both market cap and price.
Not a bad year!
I recall many TDV subscribers lamenting how they had missed out on bitcoin after it had skyrocketed to $150 in 2013 after starting the year near $15. I said then that it was definitely not too late to get in.
The same happened after bitcoin surged through $1,000. And, I said the same, “it’s not too late.” When bitcoin hit $3,000 I said the same.
With it now near $6,000 I am telling you it is not too late. Here’s the main reason:
This is a chart of the money supply or value of gold, bitcoin, Chinese yuan, Japanese yen, euro and the US dollar.
You’ll notice one stands out as being miniscule. Bitcoin.
Gold is the next closest to bitcoin with a total value of approximately $7 trillion.
If bitcoin, which many including myself consider to be the digital version of gold were to one day be valued the same as gold it would have to rise 80x to a value, in today’s dollars, of over $450,000.
If bitcoin were ever to supplant the US dollar as a currency it’d have to rise nearly two-fold above that, for nearly $1 million per bitcoin.
Will it ever get there? Well, there is absolutely no way to know. And, if it does, it will take a long while.
Does it have the potential? Yes, absolutely. If we continue to live in a digital world and the fiat currencies of the world’s most indebted and bankrupt companies return to their intrinsic value of $0, then bitcoin would be the frontrunner to become the new world currency even more than gold due to all of its ease of use benefits.
It’s not going to get there without a fight though. And I expect nothing but volatility, crisis and chaos in the years ahead.
But consider the fact that there are only a total of 21 million bitcoins that will ever be available.
Some data shows that there are over 15 million millionaires in the world today. What if each one of them wanted to own just two bitcoins. There wouldn’t be enough.
And what if many of those millionaires begin to realize the entire fiat currency system was on the verge of collapse? The panic buying that would ensue would rise bitcoin, and to a lesser extent gold, to levels so high that sellers would eventually stop accepting fiat currencies whatsoever in exchange for bitcoin.
That’s where we could be headed.
In the meantime, though, with a rise of 1,000% in the last year a sizeable pullback is clearly possible.
Will it happen anytime soon? Truthfully, everything I am seeing says no.
Bitcoin, which once was just known by a few of us crazy people here around The Dollar Vigilante is now talked about at every level of business, banking and politics across the world… and a lot of the conversation is, “How do we get some?”
And, did I mention, the entire cryptocurrency space is moving forward at light speed.
BLOCKCHAIN TECHNOLOGY ERUPTS
Considering I was one of the only people talking about blockchain about three years ago it is incredible to see the speed in which this technology is accelerating.
Russia has flip flopped on bitcoin countless times now and has just announced it will be r eleasing its own CryptoRuble (CR). Of course, it will be nothing like bitcoin as it cannot be mined and will be issued and controlled by the Russian mafia (government). CR can be exchanged for regular Rubles at any time — however, if the holder is unable to explain the origin of the CR then a 13% extortion tax will be levied.
China may be following in Russia’s footsteps as the Director of the Digital Currency Research Institute under the People’s Bank of China hinted towards the creation of a state-backed cryptocurrency.
I expect most fiat currencies to become digital over time which will make most people accustomed to using digital currencies… from there it is only a click away to trade in or out of bitcoin and the myriad of other decentralized cryptocurrencies.
Coinshares, the issuer behind the world’s first Bitcoin Exchange Traded Note (ETN), has announced that they will be launching the world’s first Ether ETN on the Nasdaq Stockholm.
The Dubai Land Department — the government arm responsible for the registration and organization of real estate in the emirate — is now processing and implementing all real estate transactions on a blockchain, with the ultimate goal to have all Dubai properties recorded on a blockchain within the next 2-3 years.
This is one area in which I have no trouble with the government using blockchain technology: in the recording of property rights and activities. It will, over time, make government unnecessary in such activities and will enable the economy to transact with more trust and less expense in the form of lawyers.
Vitalik Buterin, the founder of Ethereum, has confirmed that 63% of central banks are working with Ethereum. Moreover, 44% of public institutions and 50,000 developers are building applications on the platform.
IBM has announced a partnership with Stellar Lumens , a blockchain-based payment processing company, to move money across borders throughout the South Pacific. Merchants and consumers will be able to send money to another country in near real-time, accelerating a payments process that typically takes days.
IBM hopes to use the blockchain network to process up to 60% of all cross-border payments in the South Pacific’s retail foreign exchange corridors by early 2018. The Stellar Lumens coin appreciated 150% after the announcement.
Basecoin, a form of stable coin, has attracted investment from some of Silicon Valley’s largest funds including 1confirmation, Andreessen Horowitz, Bain Capital Ventures, Digital Currency Group, MetaStable Capital, Pantera Capital and PolyChain Capital.
Basecoin is lauded by investors for its unique approach to what's been called the "holy grail" of cryptocurrency – a digital asset able to keep its value free from volatility. The basecoin protocol can be pegged to the value of any asset or basket of assets, dynamically adjusting its market price through the creative use of a combination of tokens.
Grid+, the blockchain-based company aiming to provide consumers with direct access to wholesale energy markets, has partnered with Tokyo Electric Power Company (TEPCO), Japan’s largest energy utility.
TEPCO aims to leverage its partnership to learn about the potential benefits of Ethereum for decentralizing the exchange of energy, while Grid+ hopes to learn how to refine its algorithms to purchase cheaper energy.
Winding Tree, a decentralized market for travel booking, has announced a partnership with Lufthansa, the largest German airline. The Winding Tree ICO starts on November 1.
And, Overstock CEO Patrick Byrne has confirmed that his security token exchange, tZERO, will be pursuing an ICO sometime before Thanksgiving. Byrne suggested that the ICO could raise as much as $500m, which would be double the record for an ICO raise.
I interviewed Patrick Byrne on Anarchast last month. You can see that here.
And, Vanuatu this month announced that it will accept bitcoin in exchange for citizenship— 44 bitcoin to be exact .
And we barely mentioned any of the ICO news. That’s a whole other area on its own.
I wanted to post this chart, though, of the main ICO’s return to date.
As can be seen, buying a small amount of certain ICOs, which have had returns of 10x, 100x and even 1,000x can be very profitable but you do need to be careful.
We’ll continue to cover them here and are increasing our research and analysis resources dramatically to do so.
UPDATE ON EOS
Speaking of ICOs we have had a rough start with EOS which unfortunately, at the moment, is on the right side (loss side) of the above chart.
Many subscribers asked me to interview Dan Larimer again and, as I always try to do, I obliged.
This interview is exclusive to subscribers for the next 48 hours and then we will put it live to the public.
Here is the video .
*This video was also livestreamed on the TDV subscribers only Facebook Group here . Due to many things happening so quickly we don’t have time to even email out alerts like this but try to post if we can in the FB group. I realize some people don’t like FBIbook for obvious reasons but even just having a sock (fake) account set-up to access the group gets you access to a lot of valuable realtime info.
To summarize, Dan believes the drop in the price of EOS isn’t due to their long ICO period but mostly attributable to the Chinese ban on ICOs. According to Dan, 50% of buying was coming from China.
I’ve seen a number of people on the internet and even amongst subscribers questioning EOS. That is fairly normal.
I was one of the only people in the world lauding bitcoin at $3 in 2011 and still to this day people say it is a scam, a ponzi scheme or a fraud. I obviously stopped listening to them a long time ago.
When I first featured Ethereum in January 2016 near $2 there was a lot of criticism… and while it did rise to the $10 level fairly quickly afterwards it plateaued there for nearly a year bringing out a lot of catcalls about how it was dead.
It wasn’t.
So, with EOS, it has gotten off to a rocky start but it is also very early stage… and I have said that. However, by the time it is launched in June the price will likely be dramatically higher. So, you can wait and pay more later when the world realizes what a huge advance it is or you can get in early and take a few lumps waiting for the market to realize its value.
Dan Larimer outlined a lot of good information on EOS in our interview but afterwards, off the record, he went into detail on many of the projects they are working on… and I can tell you, they have ‘world changing” written all over them.
The market doesn’t know or realize a lot of it. And EOS has an absolutely massive bankroll, in the hundreds of millions of dollars, to bring all their projects (which are all related to or linked with EOS) to market.
And Dan has an amazing vision. He understands what the market needs and wants - which is often a downfall of most techies - and knows how to get there.
He announced this week in the official Telegram channel that EOS will be the first blockchain with unprecedented sub-second block times of 500 milliseconds and sub-second last irreversible block (LIB) providing finality. In other words, the time between a user sending a transaction or a command and being included in the blockchain could be consistently under a second compared to 10 minutes on Bitcoin.
So, with a market capitalization of $400 million currently - and a bankroll of almost the same amount - to me this is a no brainer lottery ticket.
Sure, like any new product it may fail. But, it may also succeed… and has a good chance of doing so in my opinion. And, if it does, we’ll laugh at how cheap it currently is for the opportunity.
In other words, stick with it and if you bought earlier at higher levels look to average down.
SUMMING UP THE CRYPTO SPACE
Like I said, A LOT is going on in the crypto space. It isn’t going to go away overnight no matter how many times Peter Schiff says it will.
Make sure to stick with us here at The Dollar Vigilante, the only financial newsletter in the world that has covered bitcoin and cryptos since 2011. Still to this day most financial newsletters don’t even cover this space… or even avoid it.
Their, and their subscribers, loss. Keep this in mind with bitcoin, too. Since bitcoin was launched in 2009 it has actually been in a near-state of hyperinflation… a type of hyperinflation that was necessary in order to widely distribute the coins. That time of high inflation is nearly over just as quite a large part of the world is just waking up to bitcoin.
What happens when increased demand meets decreasing supply? I think we all know the answer to that basic economics question.
OTHER EVENTS
So many other things have happened in the last two weeks but we only have so much time and mindspace to cover it all.
I didn’t even touch on what was quite obviously a false flag in Las Vegas. All the typical 9/11 type scenarios have occurred along with a storyline from the LameStream Media and the government that make zero sense.
Insiders sold stock of MGM prior to the event? Check .
A surge in buying in ammunition starting on 9/11 leading up to the event? Check.
Eyewitness to multiple shooters dead? Check .
Predictive programming? Check… as I’ll outline here.
It is well known by many that Hollywood and the music industry are largely controlled by elites. In fact it also well known that many popular stars are used for predictive programming purposes to influence the opinions of the masses.
It appears as if country singer Jason Aldean is one of these celebrities that is being used to convey subliminal messages along with others.
As we have come to learn, many of the nefarious plots that are planned by elites are planned decades in advance if not scores of years. With that in mind, there exists an Illuminati card game that contains a “Las Vegas” card. On this card are depicted a jack and ace, something you might see in a game of black jack, along with a picture of a sun.
The game created in 1996 has predicted multiple false flags and operations carried out by the elite including the Pentagon blowing up and 9/11.
In blackjack, the jack has the value “10” the ace has the value 1 or 11. In this case, it appears the symbology used on this card is conveying that the value of this ace is “1” - A is the first letter of the alphabet and in numerology - which the elites strongly believe in - it has the value “1”.
So when you put the two values together you end up with 10/1 - the same day the Las Vegas shooting occurred. Coincidence?
Well, if that was all coincidence, which it very likely wasn’t, what’s more, is that Jason Aldean has a nearly identical tattoo that depicts a jack and ace plus his initials are also “JA” the same exact letters. Also, Aldean has a picture of a black sun in the same tattoo. Likewise, sun symbology is heavily used on Jason’s website and album cover artwork.
As many of our enlightened readers probably know, the sun is worshiped by many secret societies, perhaps most famously, the freemasons.
Remember, this game has existed for more than 20 years. So, the Las Vegas shooting has probably been years in the making.
Just take a look at what went on with MK Ultra and the history of such government operations such as Project Mockingbird. This kind of manipulation has been going on for a long time.
Another one of Jason’s tattoos is a black cross depicting a red star - a pentagram - in the center of it.
And as many people know, many of the Illuminati elites worship satan or have Luciferian beliefs of some kind.
And, I didn’t even mention the location of the event, right in front of the giant black pyramid and numerous occult symbology… I get into this in a soon to be released Anarchast episode with Mark Passio.
Just remember nothing happens by accident.
Same ol’, same ol’.
If there is one heartening thing I’ve noticed is that a lot more people are questioning these events. Ten years ago when I was adamant that 9/11 was an inside job false flag death ritual most people thought I was crazy. Now, many agree.
And now, many are questioning these events… a positive in my opinion.
CONCLUSION
What will occur in the next two weeks prior to our next issue? I think it’s a safe bet to say “lots”.
So far we have made it through September and halfway through October with no market crash. As I write the Dow we just crossed 23,000.
The number 23 is quite an occult number . Could the powers behind the scene be targeting 23,000 before a planned crash?
We’ll have to wait and see. As you’ll see below, though, Ed Bugos is not giving up on “the big short.”
I’ll be in Austin for the Texas Bitcoin Conference on October 28th and 29th. You can get a discount to the conference by using the code “Anarchast”. And then I’ll be going to Lisbon, Portugal for Steemfest from November 1st to 5th.
And, of course, don’t forget about Anarchapulco from February 15-17th, then Cryptopulco on February 18th and the TDV Internationalization & Investment Summit on February 19th!
For those mostly interested in cryptocurrency, finance and investment, Cryptopulco and the TDV Summit the next day are the events to go to.
You can check out the websites to see all the amazing speakers lined up including Trace Mayer, Roger Ver, Bruce Fenton, Dan Larimer and many, many others.
And, unlike many other conferences most of the speakers will be around the entire week, and often poolside, where you can casually chat. That also includes myself, Ed Bugos, Juan Galt, Luis Fernando Mises and the rest of the team from TDV.
Phew. So much going on… but we are happy to be one of your trusted sources to help you survive and prosper through it all.
Thank you for that! And thank you for subscribing!
Jeff Berwick
submitted by 2012ronpaul2012 to conspiracy [link] [comments]

New Wirex Currency Accounts Almost Here

Imagine…
A hybrid personal finance platform that bridges old world banking and new world crypto.
A solution that actually works in favour of Cryptocurrency mass adoption while many of us still depend in various ways on traditional FIAT money…
Yes, it includes Multi Currency Accounts... with REAL debit cards (not prepaid cards)... AND multi-currency crypto wallets
— unified on one platform, manageable via desktop or mobile.
But why?
When the principle of Satoshi’s original post was against the credit bubbles and control of centralised banking: https://imgur.com/a/udm3a
Centralised vs Decentralised:
Andreas Antonopoulos recently described a necessary return to centralised banking services using cross-chain payment rails to ensure crypto payments are kept low, while bitcoin itself serves as a storage of value. Making each individual their own ‘central bank’ in control of their own financial wellbeing and mastery, while tapping in to various global services as desired.
Giving people the ability to choose the level of privacy, autonomy, and access they want based on their own unique situation, and the current stage of global blockchain adoption.
(One example of Andreas discussing off-chain banking is at at 18:20 on https://www.youtube.com/watch?time_continue=2&v=AecPrwqjbGw)
And Wirex is working hard to deliver on that vision of hybrid crypto-friendly banking services that position each individual as their own ‘central bank’.
*Just a fantasy? *
No, just a matter of time as blockchain projects develop over the next few years.
We believe crypto-friendly banking serves the 2018 market to encourage mass adoption.
Today, we’re excited to announce early details of an entirely new fully-integrated crypto finance solution that will be available in Q1:
The old approach used by crypto-card providers until today required a complex web of suppliers and integration partners:
https://imgur.com/a/XMXQf
Wirex has now simplified the ecosystem by building on top of the W-PAY blockchain platform developed for our business partners and liquidity providers:
https://imgur.com/a/Q3dsi
We fully understand that this solution is not built for everyone here as many of you are very well versed in the world of cryptos and know how to store and spend your crypto like a pro.
However, many others in the community share our belief in achieving mass adoption of cryptos.
In our minds, the best way to help implement mass adoption is to make navigating through the crypto space as user friendly as possible and we believe the best way to do this is to become the first global hybrid banking solution in support of cryptos.
Is this another ICO?
Thankfully no. Debit card and crypto banking ICOs have been done way too much recently.
As the very first bitcoin debit card and mobile app provider, building the systems and infrastructure for regulatory compliance and scalability has not been easy. Then our main card issuer had to restrict card accounts only to EU countries. Thousands of our customers around the world left without the convenience of our bitcoin-fundable debit card.
We had only just re-issued tens of thousands of cards at our expense due to a required change from MasterCard to VISA when new restrictions of EU-only were given to us. With new licensing agreements still in process we could no longer serve the majority of our cherished customers around the world — many who’ve been with us since the beginning!
Including noteable influencers in their own areas like Jeff Berwick (The Dollar Vigilante), Tijo (Arcane Bear), and more. Others who would prefer to remain anonymous. Due to new compliance, we can’t even call our old product a ‘bitcoin debit card’ as technically the card does not hold bitcoin, it holds fiat.
These same challenges are also being faced by our competitors, both the new ICO startups and the older copycat projects.
Today we believe we have achieved another industry first and important contribution to the community with the launch of a new Wirex crypto currency finance platform, including Virtual Cards, and contactless plastic cards coming soon. Old style prepaid payment cards funded by bitcoin exchange is old technology.
We believe mainstream adoption of cryptocurrencies begins in a big way by mid-2018. And we appreciate all of the support as well as the pushback and challenge from the super-intelligent and committed crypto community. As investors, consumers, service providers and enthusiasts, we are witness to the paradigm shift from old fiat banking systems to a new world of blockchain tech.
Zero-Fee Bitcoin Transfers:
Off-chain transfers between customer accounts allows us to drop blockchain fees to zero for you and any friends, family or contacts who use a Wirex account. Our off-chain Segwit bitcoin addresses give the best of both worlds.
Private Keys:
Of course, we recommend holding your own private keys for your main store of crypto. We recommend running your own node and keeping all 150 gigs of the blockchain stored on a hard drive, or using something like a Nano Ledger hardware wallet. Only keep crypto on an exchange or 3rd party wallet account because you are either trading it, spending it, or sending it (as noted above: Wirex off-chain SegWit enabled wallet allows customer to customer transfers at zero blockchain fee).
Practical Crypto-Friendly Banking For Today’s Market:
Wirex is focused on providing the most practical crypto-friendly finance platform for everyday life. This means our products can be understood and used by people who are new to cryptocurrency. The passion at the Wirex office is all about bringing bitcoin to the mainstream. We want blockchain innovation to thrive. And hopefully you’ll enjoy the new bank account facilities too.
The new Wirex Account combines the familiarity of real banking services with the extra solutions and opportunities of multiple cryptocurrency wallets.
Multi-Crypto Wallets:
New wallets will be integrated. Dash and Litecoin first. Then others. As fast as we can.
Combined on one single seamless platform, you can now open a crypto friendly bank account and benefit from our real debit cards with no top up fees.
Support from the crypto community helps us reach the masses who are brand new to bitcoin with new educational programs and practical crypto financial management.
But we're not here to make a quick $30 million from ICO. We’re here to build a comprehensive blockchain finance platform for all. We're here for the 1,000,000 customer registrations who have used our old bitcoin wallet and debit card services over the past few years. Many who were put off due to compliance issues beyond our control, but issues that we take to heart and feel a lot of empathy for. Remember, we are crypto enthusiasts too and want to enjoy the same products that you do!
Mainstream adoption means higher cryptocurrency prices (BTD and HODL), greater innovations, lower cost services, better digital asset management, and who knows… we may find opportunity to do a worthwhile ICO in the future for something bigger and better than just crypto cards.
Join the Currency Account waitlist today and you’ll be front-of-line when we get final approval to open accounts from the compliance and developer departments.
https://wirexapp.com/wirex-bank-accounts-almost/
Team Wirex
submitted by WirexApp to CryptoCurrency [link] [comments]

Bitcoins Come to China

By Chen Huijing (陈慧晶) Issue 618, May 6, 2013 Market, page 17 Translated by Zhu Na Original article: [Chinese] http://www.eeo.com.cn/ens/2013/0509/243777.shtml
Within just one month, the value Cheng Hua’s (程华) Bitcoin holdings had increased nearly sixfold.
Bitcoin, an unofficial virtual currency that’s transferred digitally without an intermediate financial institution, saw its value soar from $46 to $230 between Mar 10 and April 10.
Cheng Hua was one of the first Chinese to trade the currency. In China, Bitcoin lovers like him call themselves “BTCers.”
Li Xiaolai (李笑来), who claims to have the largest collection of Bitcoins in China, describes his obsession saying, “Bitcoin is the most stunning and most subversive social experiment in history.”
Will Bitcoin start to challenge traditional currency? Or is this just a speculative bubble that will become the digital world’s “Tulip Mania”?
A Crisis and an Opportunity
If it weren’t for the banking crisis that hit Cyprus, Cheng Hua may have totally forgotten about the 2,000 Bitcoins that he and his friends bought two years ago.
On Mar 16, the Mediterranean island nation of about 1 million signed on for a 10 billion euro bailout from the EU and IMF. As part of the deal, Cyprus would raise 5.8 billion euro by levying a one-off 6.7 percent tax on bank deposits under 100,000 euro and 9.9 percent on higher deposits. Once the news circulated, people in Cyprus rushed to withdraw their money from banks.
During this time, downloads of online software for trading Bitcoin started to boom. Cypriots were very interested in a virtual currency with no central government control.
Jeff Berwick, founder of StockHouse.com and CEO of TDV Media, announced that he planned to open a Bitcoin ATM in Cyprus. He said that within just a few days, he received many orders for these special ATMs.
With the surge in demand, the price of Bitcoin against the U.S. dollar soared. On Mar 16, it was worth $47. By Apr 9, it broke through $200 and reached its highest point of $230. But it soon fell back to around $100.
“During this month of watching Bitcoin, I hardly got any sleep,” said a “BTCer” who just recently got interested in the field. “Between the time I closed my eyes and opened them again, the price had risen or dropped more than $10. It was very exciting.”
He’s considering selling his house so he can invest all his money in Bitcoin.
Cheng Hua was also shocked by the recent events. He found that the 5,000 yuan he invested in Bitcoin two years ago was now worth 40 times that amount.
Investment
Bitcoin was started in 2008 by an anonymous creator as an alternative to government controlled currency - much like gold. And like gold, Bitcoin is “mined” virtually. According to Wall Street Journal, people can mine Bitcoins with computers and special software by solving complicated mathematical problems. But since the process is so difficult, most just opt to buy it. New Bitcoins are made available to be mined when the network is updated, and the amount of new coins distributed will be halved every year until 2140 when the total number will be capped at 21 million.
In May 2011, Cheng Hua and his colleagues at a software company started to mine Bitcoin online. “At that time there weren’t many people mining, so it was easy,” he said. “In the beginning, we could dig up two or three Bitcoins per day. There were different mines as well as rankings. We joined one of them, and coins were allocated based on the contribution of miners’ calculation ability.”
Like many Bitcoin lovers, Cheng Hua and his team’s mining experience wasn’t very successful. The money they generated from selling Bitcoins was less than what they’d invested in the electronic infrastructure to mine. After half a year, they gave up. Luckily for Cheng, he held on to many of the coins.
Li Xiaolai (李笑来), founder of a major website, invested hundreds of thousands of yuan and suffered major losses, but persisted in the Bitcoin market. He continued to gain more by buying low and selling high. “In the end, I gained 2,100 Bitcoins using this method, which was far beyond my expectations,” Li said.
He says that Bitcoin is valuable because it ensures inviolability of private property through its decentralized peer-to-peer structure. To him, it provides a guarantee of freedom.
The Future Economy?
Bitcoin has come a long way in its short history. As of Mar 30, all Bitcoins that have been issued so far were together worth over $1 billion. And a series of Bitcoin-related industries have developed including Bitcoin exchanges, information websites and third-party payment services.
In the U.S., Bitcoin is already being used in daily life. According to an October 2012 report by BitPay, a company providing payment mediums for Bitcoin, over 1,000 merchants accepted payment with the currency through their system.
Though Bitcoin just started to take off in China this year, there are already more than 10 online stores on Taobao that accept the currency. And after the Ya’an earthquake hit, Bitcoin donations were accepted.
American economist Paul Krugman has come down hard on Bitcoins, saying they “derive their value, if any, purely from self-fulfilling prophecy, the belief that other people will accept them as payment.”
“BTCers” have a different view. Li says that Bitcoin does indeed have some shortcomings currently, but that’s because people dealing with the young currency have a mindset that’s accumulated after thousands of years of using traditional money. Volatility, he says, is natural in the beginning.
“I don’t see Bitcoin as speculation or an investment,” Li said. “For me, it’s a social practice. Gold doesn’t support currency. People’s trust supports currency. Bitcoin is the same. It has no intrinsic value. It’s gained trust from people on the internet voluntarily. This trust is more valuable than the forced trust traditional currency relies on.”
Cheng Hua holds the same view “Bitcoin is based on the principle of trust,” he says. “Maybe it will have bubble stages, but currency must go through these stages during development. The traditional legal currency also went through these stages in its emergence. The future economy in the virtual world is built on the basis of virtual currency. This is the value of Bitcoin.”
submitted by aisen to Bitcoin [link] [comments]

Tomorrow I'm moderating 2 panels at the Texas conference: + BTC in Latin America. Suggestions for questions welcome!

Hi everyone,
Tomorrow I'll be moderating two panels here at the Austin Texas Bitcoin conference.
I'm currently preparing questions, feel free to chip in with suggestions.
Future of Bitcoin Mining, featuring:
Latin American Opportunities, featuring:
I've also posted this request on Twitter, see here for the reactions there: https://twitter.com/tuurdemeestestatus/441241634122899456

Edit: sorry, "Bitcoin mining" dropped out of the title.
submitted by dtuur to Bitcoin [link] [comments]

Jeff Berwick - Bitcoin All The Way Up (feat Freenauts) LIVE At The Palladium, Anarchapulco Jeff Berwick - How Bitcoin and Anarcho-Capitalism Can Change The World Dollar Vigilante Jeff Berwick: Favorite Coin, Institutions, Bitcoin, & Much More!- Anarchapulco 2019 Jeff Berwick of The Dollar Vigilante: Bitcoins for ... Why Bitcoin will be the next big thing: Interview with ...

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Jeff Berwick - Bitcoin All The Way Up (feat Freenauts) LIVE At The Palladium, Anarchapulco

Jeff Berwick of The Dollar Vigilante Performs 'Bitcoin All The Way Up' featuring the Freenauts LIVE at the Palladium in Acapulco, Mexico during Anarchapulco, 2018! We should all be thanking Jeff ... Blockchain technology has the potential to put the power back into the people's hands. Jeff shares his insights and views how cryptocurrency can change the society for the better. If you're ... http://usawatchdog.com/were-in-the-very-end-stages-of-this-system-jeff-berwick/ - The Chief Editor of DollarVigilante.com, Jeff Berwick, says, "The entire 'B... China is shutting down cryptocurrency exchanges and outlawing initial coin offerings. But China’s attack on cryptocurrencies will not succeed, Dollar Vigilante Jeff Berwick tells Silver Doctors ... Jeff Berwick - The Dollar Vigilante - @Cambridge House Live - June 2012 - Duration: 16 ... Bitcoin, Gold, Libra, & Govt: Jeff Berwick, Fmr head of US Mint, + more! - Duration: 39:08. Naomi ...

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