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Digital Currencies and Blockchain

Discussion in 'General Freewheeling Chit-Chat' started by Tyger, Aug 12, 2017.



  1. Tyger

    Tyger Paranormal Adept

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    Hello - This is a new area for me. I am trying to understand it. Folks who understand it please post.

    I will post some content to start the discussion going. :)

    Lots of different ideas regarding blockchain and digital currencies. Is the following luddite thinking, or prescience into the Brave New World of our sci-fi future? A case of when discernment is required.

    Digital Enslavement Is Now Assured – ACChain August 10, 2017
    LINK:
    https://thedailycoin.org/2017/08/10/digital-enslavement-now-assured-acchain/
    TEXT: This is justification for what I have been saying for a year or more – blockchain chain technology and cryptocurrencies are evil and will usher in a cashless society. If some of what I am about say sounds harsh it is because we are discussing our lives – not just our financial lives, but our ability to have the life we dream about, hope for and work to obtain.

    As we have pointed out, especially over the past few months, the too big to jail banks, IMF, United Nations and BIS have all been encircling blockchain technology, not for the purposes of condemning but rather to announce their intention of embracing. No one, except Chris Duane and myself, have questioned any of these moves by the very criminals that so many of us report on each and every day.

    Over the past few weeks it has become clear the people that embrace cryptocurrencies have become blind with profits, and to a degree it’s understandable as a lot of the people have this misguided perception they “have lost money on their investment” in precious metals. This proves how little most of the people understand precious metals and the role they play in our lives and makes one question their depth of knowledge regarding this new technology that has the potential to enslave the world, never to breathe free air again. But, the cheerleading continues unabated with few questions being ask.

    We spent most of 2016 researching the SDR (Special Drawing Rights), fiat currency created by the IMF for the purpose of global trade settlement. We interviewed a number of people on this topic, including Jim Rickards and Willem Middelkoop two of the most studied people on this topic. It became quiet clear the SDR was going to be an important piece of the monetary puzzle in the near future and we were attempting to keep people informed as to it’s changes and the potential impact on our everyday lives. Now we learn, that all the research was not in vain. We hope people were paying attention.

    August 8 Lynette Zang, ITM Trading released her latest video covering one of the new cryptocurrencies, ACChain. This, unlike other cryptocurrencies has the full backing of the Chinese government and is going to be tied directly to the SDR. This is, by far, one of my greatest fears coming to fruition and should have your full undivided attention. This is, in fact, a global digital currency that could be used at ground zero – where you and I stand.

    "In 2011 the IMF gave us an outline of, both their goals and, how they would roll the SDR out in global trade.

    …they talk about the need for an international monetary reform; and that’s because they knew that the system died in 2008 and was put on life support. So, they [the IMF] needed to buy some time to create the next money standard.

    They also needed to create a new class of SDR “the tradable” SDR’s as a reserve asset. In addition they’re looking to utilize the SDR as a global unit of account. Which means that all assets would be valued in terms of SDR. Right now they’re valued in terms of dollars (Federal Reserve Notes). So, they want to take it from a dollar centric monetary system to an SDR centric monetary system, but there needs to be a standard shift as well.

    Our current monetary system died in 2008 when the derivatives market imploded taking out Lehman Brothers and AIG. The systemic damage was spreading so quickly the American people were held at gun point by the Federal Reserve and their minions, the too big to jail banks. As Warren Buffett so infamously stated “derivatives are financial weapons of mass destruction”. The only thing Buffett has ever said of real value.

    Derivatives blew the system apart and the top 0.01% have been stealing as much wealth from the citizens around the world as humanly possible. The American stock markets have not been moving to the upside over five years to benefit the people. This has been generated by the Federal Reserve in order to transfer our wealth to their balance sheet. When the time is right the Dow Jones, S&P and NASDAQ will free fall unlike anything ever seen before. The criminal banksters and their scummy minions will then scoop up all the stocks at very discounted prices using the profits from the sale of the same stock from the dizzying heights they have created with all the QE funds stolen from the American people.

    The above is one of the first steps, with a great many others already in place, that are well documented.

    This massive drop in the stock markets will lay the ground work for a panic by the average citizen who’s wealth just dropped by more than 50%, probably closer to 75%, never to return. Unlike in 2008 when the Federal Reserve, and the too big to jail banks, demanded a $750 BILLION ransom, this time around the problem will be far larger than the central banks can handle. The volume of wealth transfer is going to be breath-taking.

    Once all assets are valued in SDR’s they want all currencies to be “pegged” to the SDR. ~Lynette Zang

    As we have discussed on a number of occasions, if cash is part of the monetary system, negative interest rates will not work. If people have the option of using cash and staying outside the banking system, the banksters can not charge us fees for having any wealth. We’re not even talking about wealth, just the ways and means of sustaining ones life – paying bills, putting gas in the car, food – is going to have a fee attached to it by the banks – this is called “negative interest rates” which is an absolute lie as “negative interest rates” do not and can not exist. It is theft, plain and simple. But “negative interest rates” hides this fact and are words that most people will accept. If the banksters came out said “we are now going to charge you a fee for having funds in our bank” people would revolt and this is the reason for creating a digital currency. There is no other reason for digital currency to exist.

    As the Director of China’s Central Bank stated in March 2017

    “If everyone is holding cash, negative interest rates become useless,” Zhou was cited as saying(link in Chinese) at the Boao Forum, an annual conference in Hainan province. “With the popularity of digital currency, cash usage will drop significantly… During extreme deflation, negative interest rates are perhaps more useful than dropping money from helicopters.”

    With most central banks close to, or currently at zero interest rates, going negative requires a new set of rules. The new set of rules have been laid out and will be implemented over the coming months. Moving to a digital currency is required to force people into the banking system. One needs to look no further than the scheme India introduced in 2016 when they outlawed the two largest bank notes, which made up 86% of all cash in India, and forced the citizens to open a bank account to exchange the outlawed currency for the newly issued replacement currency. This was a trial run on a massive scale.

    If the banking system doesn’t force people into digital currency they will simply go to the bank and liquidate their accounts into cash. It would allow people to, at least, keep their funds. So, outlawing/banning cash is a key element in making this scheme of enslavement work properly.

    In May 2017 China introduced ACC – Asset Collection Chain or ACChain.


    [​IMG]

    Click Image to Enlarge

    Welcome to the one world digital currency that lives on the blockchain and utilizes a “token” system that looks, acts and functions a lot like bitcoin.

    ACC could also be Anti-Christ Coin you decide what it is. Notice the person running through a pyramid and how the Federal Reserve Note and Chinese Renminbi are one side of the slide and all other currencies are on the opposite side? The pyramid is a one of the most used symbols by the globalist – just look on the back of any Federal Reserve Note for confirmation. Below the pyramid is the following statement – “Blockchain – The devil uses it to destroy the world.” What is that about?


    [​IMG]

    Click Image to Enlarge

    I have been sickened by the whole blockchain, cryptocurrency thing for the past several months and now we can all see why. People have been attacking me by email, in comment sections on YouTube saying I don’t know what I’m talking about, learn about the technology before you speak, “this is the greatest invention since fire”. Well, maybe now all these haters will come to realize that maybe, just maybe, being on the same team as BNY Mellon, BIS, IMF and Blythe Masters may have consequences.

    Be on the look out for an economic shift within the next 18 months. I feel confident there are but a few pieces of the puzzle remaining to be put into place and once the picture is complete – this has the potential to change our lives forever.

    Lynette Zang breaks it all down and then goes on SGTReport to share with his audience. [see link for videos]
     
    Last edited: Aug 13, 2017
  2. Tyger

    Tyger Paranormal Adept

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    Video connected to above linked article in post#1. Interesting headline, but don't be put-off. Interesting content.

    However, anyone here have greater command of this topic? There is some kinda biblical language - 'beast', 'devil', etc - so I am not sure what I am listening to. Plus a whiff of conspiracy thinking - though in regarding to money, collusion is business-as-usual imo, not woo thinking at all. :cool:

    BREAKING: BANKERS' NEW SDR CRYPTO BLOCKCHAIN WILL ENSLAVE HUMANITY?? - Lynette Zang
    BREAKING: BANKERS' NEW SDR CRYPTO BLOCKCHAIN WILL ENSLAVE HUMANITY?? - Lynette Zang
    TEXT: Published on Aug 9, 2017: "The new Chinese-created ACChain crypto currency blockchain will be the SDR-related world currency that will allow the international banking elite to digitize every tangible asset on earth, and they will then exert total control over all of it.

    "Lynette Zang explains: 'The goal is to capture your wealth, and when the say this is the LAST wealth transfer mechanism they mean it because they want it all. All of it." Intel Software designer Brad peters takes it one step further, saying: "If a global crypto coin controlled by the Bank For International Settlements (BIS) comes to internationalize PROPERTY onto their crypto blockchain, they get their one world government and one world currency all in the same stroke. This IS your 1988 (2018 prediction) Economist magazine cover.' "
     
    Last edited: Aug 14, 2017
  3. mike

    mike Administrator Staff Member

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  4. Red

    Red Paranormal Adept

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    Since you say you are brand new to this stuff, you really need to start with bitcoin which uses blockchain (and has a section on how blockchain pertains to bitcoin specifically). Bitcoin, the first fully implemented and decentralized crypto-currency, was started as a way to transfer funds between entities without using an intermediary like a bank. The transactions are also anonymous, which can be a plus for people dealing in black markets.

    Bitcoin - Wikipedia
    What is Bitcoin - CNN

    Here is a video of an interview with the above mentioned Brad Peters. It talks about the issues with the ACChain without the Illuminati/New World Order vibe:

     
  5. Tyger

    Tyger Paranormal Adept

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    Thanks. :)

    But what about the ACChain stuff - what is being claimed. Any thoughts?
     
  6. Bhoeskern

    Bhoeskern Skilled Investigator

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    Now this is spot on. The "crypto" world is truly the wild west of "finance." There's money to be had if you can stomach the volatility. You can be up 1000% one day and down -25% the next. No joke.

    It's crazy, and it makes you appreciate all the regulations the Feds put in place on regular financial markets.

    The real trick is putting your money on cryptocurrency that is going to be globally accepted. This is not going to be easy pickens' as new coins are being developed every month or so. Bitcoin is there right now, but it's price is so expensive relative to fiat (USD for the most part) that alternatives are being made.

    The downfall of crypto, as I see it, are:

    You need power, as in electricity.
    You need network access and this expands across the globe.

    Without these two crypto is worthless. So I doubt a "New World Order" type is going to enslave mankind.
     
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  7. Tyger

    Tyger Paranormal Adept

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    Thank you, Bhoeskern. :) This is the kind of analysis I am looking for.

    So saying, would you say - from your perspective - that crypto currencies would ever supplant 'regular money'?

    But then we come to what exactly is 'regular money' these days. My understanding is pretty basic: the outcome of labor. Emerged from bartering economies way-back-when. Coinage used as 'tokens' for a transaction, etc. What is your view? If you have one.
    So bitcoin is still in the developing stage? Do you have a favorite YouTube video - or article - that you would recommend to watch for such as me trying to get a handle on it all?
    And what would happen if the internet gets privatized? Goes from being a 'public utility' concept to a private for-profit entity?

    I could see - with all the advances being made with solar power, for example - that access to electricity will become a very local event, right down to a person's body.

    It's the global internet network that is the puzzler - how would that look? At this juncture it looks too sci-fi - but maybe something is coming that will make that as well 'local' while yet at the same time easily connected to a global net.
    :p Yeah, I know, the video has that whiff - but it seemed pretty grounded otherwise. What do you make of the woman's analysis?

    And the ACChain?
     
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  8. Bhoeskern

    Bhoeskern Skilled Investigator

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    Well, technically, that's the purpose of cryptocurrency. The people that develop this technology want to create a currency that is not controlled by a central entity, i.e. The Federal Reserve, International Monetary Fund, etc. Basically decentralized. Will it actually happen? Developers are trying their damndest, but I doubt it'll fully take over fiat in my lifetime. I have a few more decades to live (atleast I like to think so).

    An Ayn Rand fan, are ya? My personal view: If someone is willing to take it, then you can buy something with it. Fiat is only as powerful as the person willing to accept it. You could have a million dollars but if you're out in the Gobi desert and the nomad won't accept the Greenback, then your S.O.L.

    Bitcoin is in the exact opposite stage. It's already complete. It isn't till recently that developers realized that as technology is being updated and refined that Bitcoin itself is being outdated. Hence, the recent "fork" in Bitcoin technology. They recently "split" the technology from the original, Bitcoin, to the more "updated" Bitcoin Cash. And the result, so far, has been underwhelming. The price of Bitcoin, the original, skyrocketed while the "new" version Bitcoin Cash has absolutely crashed.

    I missed out on this Bitcoin surge as I sold my Bitcoin before the fork because I honestly didn't know what it would do. Turns out, as I sold my Bitcoin at $2500 before the fork, afterward I checked and it's selling at $3400. Oh well.


    Perhaps in the United States, as that new head of the FCC wants to happen. I doubt it'll be global, and crypto is global. Though, as recently history as shown, public utilities turned private has ended in disaster. "Enron" ring a bell?

    Solar power brings electricity to even the remotest parts of the world, true. But if you're not hooked up to the network it doesn't bring crypto to the remote either. That's my bad, I should have clarified that point in my list.

    Then again, if you are connected to ANY network that operates crypto, it could work. That's also the point, it's not centralized.


    I haven't watched the video of ACChain. I'll get to that. But if it's what I'm thinking, it's already an idea that hase been pumped through and rejected. Others have tried, but as I have said before the key word is: DECENTRALIZED. No one entity controls this, and that's what these people want. They don't want "Fiat loaned at debt," as it was doomed the second the first dollar was printed. It's amazing it's lasted this long.

    This is a good convo, keep it up.
     
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  9. Tyger

    Tyger Paranormal Adept

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    No, not at all - quite the reverse. What about what I said regarding labor and money gave you that impression?

    I have not read Ayn Rand - though I may have read 'The Fountainhead' at some point but I'm inclined to think no - still, not sure. Long past and forgotten if I have, but I do know of her philosophy. IMO her view of self interest, and Dawkins' 'selfish gene' and Miton Friedman's Chicago School of Economics have wrought our current amoral world of business, not single-handedly, but they helped.
    I would agree.
    I see. Thank you for that context.
    To work, you mean, crypto must be global. What would be the agency for it to become global, I am wondering? Beyond the network - what agency, what 'power' - this is a rhetorical question at this point.
    I'm still hung up on land, property, goods, labor.
    Please do! Very interested in an analysis of what she is saying.
     
    Last edited: Aug 13, 2017
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  10. Bhoeskern

    Bhoeskern Skilled Investigator

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    I don't think it's possible on a practical level. Call me 'old school' but I'm just simply not in that camp. Robots can do some impressive stuff, but they are only as impressive as the people that programmed them. If our 'smart houses' have the ability to confine us then, sadly, we are already too far gone.


    I remembered in "Atlas Shrugged" a conversation between two of the main characters talking about the value of money, and basically it boiled down to sweat and effort converted to the dollar. That's what made me think of it. I also read "The Fountainhead", just as outlandish as "Atlas Shrugged." Dawkins is a self-absorded asshole.

    Milton Friedman is a pretty smart guy, IMO. A lot of his stuff hits the mark.

    Joseph P. Farrell has a couple good books about it, though not the central subject of coinage, more like the ancient form of finance. "Vipers of Venice" might be one, it's been awhile though.

    It doesn't have to be global. It just has to be accepted, but being global is HUGE plus. Asia is always looking for the edge and if you're trading crypto the Asians are always an element to consider because it seems that the Asians are going to be the first ones to adapt to this kind of currency than anyone in the West.

    There is no agency to request permission to be spent. That's the beauty of it. Crypto just is. Anywhere from China, to the US, to France, it doesn't rely on one entity to verify your transaction. It's the blockchain itself that does it. There's no group that's susceptible to corruption, as in the FTSE scandal where interest rates were rigged.

    The world is always served in regions. If your grocery store accepts dollars for a loaf of bread, then so be it. There's nothing wrong with that. This technology, though over 10 years old, is still in its infancy. It'll be a long time before some such cryptocurrency is widely accepted.

    Though it IS being accepted. Microsofts service of XBox Live takes Bitcoin as payment. If one the worlds largest corporations is accepting it then that tells you that it's atleast something to pay attention to.

    At first I watched the video Red posted, then I realized it wasn't the one you posted. So I watched the one you posted.

    All in all, it's nothing new nor something to be worried about. The video Red posted was nothing more than what I expected. ACChain is just another cryptocoin trying to fill the void of fiat, with the exception that fiat hasn't created that void yet. The video you posted is nothing more than what Alex Jones posts, it's just sensationalist reporting. This group bought a bunch of land in the Dallas/Fort Worth area, which isn't cheap, and are trying to pawn it off on some cryptocoin that they then issue in an Initial Coin Offering for. The only danger that is represented here are the foreign investors. If the coin isn't recognized then it's worthless. The investors lose their actual fiat money to some fictitious coin they bought into. But the joke is on the primary company that bought the land. Since Texas won't accept cryptocoins, the company will have to pay in dollars. Soon enough the company will run out of that. God Bless Texas, lol.

    They then add that "US citizens are not eligible for participation." WHICH IS TRUE. Most states don't recognize cryptocoins as a valid investment/currency. That's no fault of the states but rather the Federal Government. The Feds hardly recognize it either.

    Ok, ball is in your court.
     
    Last edited: Aug 13, 2017
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  11. Tyger

    Tyger Paranormal Adept

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    Ah, Bhoeskern, I see you used my initial post to respond to. ;) I had edited the post substantially, thinking I was going in 'too deep' but I see by your response that you are in the groove. Thank you.
    I tend to agree. That's what I am meaning when I say 'agency' - I just don't see how there can be - practically speaking - a one world government. I can't identify the 'agency' (as in a chemical reaction) that would effect such a critter - every (worthy) science fiction scenario notwithstanding (and I am currently doing a straight-through screening of 'Babylon 5' - all 5 seasons from start to finish - where would the world-building of the writer be without the one-world government trope :cool: ).

    United Nations type stuff - very cumbersome - and requiring national entities to make it a go, etc., nevertheless still seems like the only viable 'world government' for the foreseeable future, and is likely the most precarious kind of one-world. The only viable current agency that I see able to effect such would be the corporate model - hence it would not be a politically created one-world but comes about through economic agency. (TTP and that sort). Through corporations - economic entities.

    Yes, agree about the house bit - I was using it as an example. People coming out of Silicon Valley have recently been sounding cautions about AI, though. Not that we are heading towards an Asimov world of 'I, Robot' - but that something about AI development might be running ahead of us causing a world to develop that is not to our best advantage as humans.

    Consider: Facebook Shuts Down AI Robots After They Invent Their Own Language
    LINK: Facebook Shuts Down AI Robots After They Invent Their Own Language
    Ah, I see. This was just me thinking, though, trying to figure stuff out - was not inspired by Rand (God forfend!). I have only just recently begun to dig into Marx, and I am deep into the Socialist model right now.
    Hmm....not sure I agree. Not conversant enough in the details yet to have a coherent conversation but interested in listening if you are inclined to state some particulars in how he demonstrates 'hitting the mark'. :)
    Thank you for the recommendation. Is this the guy? LINK: About. Looks like quite a cosmology he's developed there.

    This is also the guy? "Joseph Farrell is Professor of Economics in the Department of Economics at the University of California, Berkeley. He has served as Deputy Assistant Attorney General and Chief Economist at the Anti-Trust Division, US Department of Justice, 2000 2001."

    I am having trouble nailing down Joseph Farrell's bona fides. On a French wiki site he is coming up as Berkeley but in Theology. What?

    This is the guy? LINK: Giza Death Star Community
    Understood. Thank you.
    Understood. Extremely interesting.

    Regarding regions, when I say regions I am meaning something a bit 'to the side' of a political nationalistic entity. I am seeing national entities as atavistic - they are past their time. After (potentially) a bloody interregnum (though my fervent hope would be that we avoid such), the future seems to me likely driven more by regions - how this translates into not being political is an interesting conundrum, yes. But from everything I am seeing it seems most likely the future will be driven by local control. Sustainable communities are key - and cooperation extending out between those communities, though human nature always has to be factored in (unfortunately - ha! - though this may be where AI comes in).
    Okay. Alex Jones is a name I recognize but I have never listened to him. Thank you for taking the time to make the analysis. It's what I was looking for - wanted a context for what was being said and you provided it. Thank you.
    Will the Feds ever recognize it? Or would that be self-defeating?
     
    Last edited: Aug 14, 2017
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  12. Bhoeskern

    Bhoeskern Skilled Investigator

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    I'll have to be very brief tonight.

    That's the one.


    He's entertaining, but only tolerable in very small doses.
     
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