Response to this post: http://www.chron.com/technology/businessinsider/article/Bitcoin-Pro...
Nice. Well the blogger got this part right..."not controlled by a government or central bank", but that's about it. When he goes into the dark aspects, which every currency on the planet enables, the landscape sure seems much like the current regime parading around as modern day aristocrats, lording over their globalized neo-feudal system, swindling power from our own military-industrial complex.
A few other corrections:
-Bitcoin is not near 100% anonymous or easy to avoid taxation. The company I promote and earn bitcoin from, like most legitimate ones, is registered with FinCEN and our pay is reported. Sure we have a little flexibility moving it around into other assets and overseas investments, but we are taxed on our initial earnings.
-Bitcoin, for several reasons, is not the currency of choice for criminals. Cash is still WAY more untraceable (there's no permanent digital record) and as of now is a more stable store of value, at least for a while longer. And, with prominent multinational banks such as HSBC willing to launder their money while the CIA protects their assets and product, why would they (for now) want to use any other medium than the USD? I mean it's track record speaks for itself. Bitcoin murder-for-hire, please, you have to be kidding me? That monopoly was purchased lock, stock, and barrel long before Internet protocols were a figment of the imaginations of some great men like Cerf and Kahn, Cohen, Reed, and Shoch, and finally Berners-Lee.
-Under 1000 people own half of the bitcoin as a very young currency that is only just now getting serious traction, with only a $7 billion market cap...where anyone on the planet (nearly, including China now relaxing off their initial stance) can freely purchase, use, save, trade, spend bitcoin, and more and more are all the time. So, what's your point?
Isn't it more important we work together to avoid, through continuing to establish a new stateless, decentralized economy and digital currency, the stranglehold of the 147 transnational corporate oligopolies controlling world monetary policies (in turn the economies), world governments and their agencies, education systems, the media, 40% of the world's assets and 60% of the world's income (money), along with controlling most major worldwide industries like energy, food, finance, manufacturing and health. [source: http://www.newscientist.com/article/mg21228354.500-revealed--the-ca... and http://realcurrencies.wordpress.com/2012/07/26/the-few-banks-that-o...]
-Yes bitcoin, as cash can be lost or stolen. If you're not careful, you can lose bitcoin and have it taken just like cash you're not careful and smart about. Trouble is the strategies to keep your bitcoin cash safe have changed. 99% of the losses could have been avoided changing the strategy used to keep it safe. One should never have a large amount of cash in any one key, let alone a single wallet. Search: bitcoin cold storage; and protect your private keys and passwords like gold. Backup, backup, backup.
Finally, yes as of right now the federal government, as we're told, protects us through FDIC up to $100,000, no more. The plan put in place long ago is to steal our wealth and money slowly over time, through wild printing policy devaluing the dollar (and other currencies), inflation, interest usury on mounting debt, taxation without representation, etc. i.e. in the last 100 years our almighty dollar has lost 96-97% of its value. Who was it again completely responsible for this monetary and fiscal policy during that time-frame? The exact same small group of individuals responsible through their immense greed and miscalculations has the entire world teetering on a complete global financial meltdown, AGAIN.
These ruling elitist class of oligopoly international financiers, central banks and multinational corporate monopolies are the new global corporatocracy we once called capitalism, built on the backbone of what used to be considered DEMOCRACY. Do you honestly see any major thread of that apparent in the world today? And lastly, what other catalyst or tool do you see readily available to the citizens of the world today to reset the stage and take back control of their own governments, economies, and industries? On top of this, any semblance of American Exceptionalism we were founded on, has now officially turned into US Imperialism over the last decades, and the many ramifications are now very clear.
It was, at least in part, the well-intention of the U.S. Founding Fathers based on lessons learned from France all the way back to Greece that certain rights such as equality, justice, jury trials, right to bear arms, free elections, protection of private property, limits on taxation, religious freedoms, life, liberty, and the pursuit of happiness are inalienable, absolute, unassailable, inherent, and NOT negotiable, transferable, reputable or to be taken away from or given away by the possessor.
Pericles of Ancient Athens, described their government this way: "Our government does not copy our neighbors, but is an example to them. It is true that we are called a democracy, for the administration is in the hands of the many and not of the few." Inspiration for us all. It's not too late, the stage is set, freedom and true democracy is still achievable but it's going to take work and change. The status quo is no longer an option.
Bitcoin is a decentralized, global entity. I'm sure the feds will somehow someway figure out a way to get there fingers in there somewhere.. Though they haven't so far. If it is integrated into normal bank accounts, the feds and regulators will def have there hands in it then.
Most MSM writers or economists don't know shit about bitcoin but write about it anyways. I just Ignore them as I know the unique utility it has and where it's going (like when email came out...)
Bitcoin will get stupid simple once it's integrated into normal bank accounts and thats about 2 years out still. Paypal might include bitcoin and other cryptos in a digital wallet here very soon as the CEO of Paypal said on Bloomberg TV. That would make it much easier to spend as so many already accept Paypal.
imo, it will never catch on, it's too complicated for stupid Americans, so there's about 85% of the Country right there ;)
Alternatives for those with too much money?
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