NEWS AND VIEWS FROM THE NEFARIUM DEC 21 2017
December 21, 2017 / /
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Next up: FeDCoin, if the Washington Post is correct... but as always, caveat emptor!
The Washington Post Propagandizes Again: Says 'Fedcoin' Will Be 'Bigger' Than Bitcoin
Bitcoin is big. But fedcoin is bigger.
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Cash will never be replaced because the biggest drug-lords are the banksters themselves. Crypto-currencies have been introduced for some other reason. When people exchange their cash for crypto-currency at exchanges like Coinbase, where does all that cash go? That is already 500 billion dollars and will grow to trillions as long as the bubble continues. The startup capital for Coinbase was provided by the venture capital firm Andreessen Horowitz, based in San Francisco. Balaji Srinivassan, a general partner of Andreessen Horowitz, teaches Stanford’s bitcoin engineering course. Srinivassan is a founder of 21 inc (the developer of the the “21 Bitcoin Computer”), one of the most prominent Bitcoin startups, also funded by Andreessen Horowitz. Srinivassan is a proponent of a “techno utopia” in which people exit from society (the “paper belt”) and live in their own techno bubble and manage their own finance and health care etcetera.
Read more here about the connections between Coinbase ann the NSA, CIA and FBI:
In bankerspeak the term “cash” also comprises “liquid assets” such as checking account amounts whether transferred digitally or by physical checks. And, in fact, cryptos are bought and sold on a “cash” basis like a currency and unlike equities. Though it does not seem to be an actual “currency”, at least not yet. Is there money laundering going on? Well, perhaps the question should be; when, since banking was born, has money laundering NOT been going on?
This is kind of ‘funny’. I went out to buy a restaurant pizza, tonight. Rather than using a credit card, I used cash – just because I’m stubborn. If ‘someone’ wants to characterize me through my purchases, I’m going to make it as tough on them as possible. Not because I’m any kind of danger; just because I see the game. “Resistance is not futile”…
(A few decades back, my then-ladyfriend got swept-up in one of those pay-it-forward ponzi cash-schemes. I told her the mathematics-based outcome from needing more and more ‘investors’ to prop-up the scheme, and that only the creators of the scheme were guaranteed to make money. But, she was smitten by the stories of her friends receiving more cash-back than cash-invested. She actually made it through one ‘cycle’ of the system, and got more cash-back than cash-invested. Then, in spite of the system being ‘mature’ [late in the bubble], she invested all of it back into the system. Yep, she lost it all, when there were not enough next-generation ‘investors’ to prop-up the bubble. Sound vaguely familiar?)
While agreeing with Joseph on using coins and notes as much as possible, I would point out that it is not cryptos – a sizeable part of the population in the “developed world” has never heard of them much less been tempted to buy them – but the good old debit and credit cards that have induced many to turn away from cash. And Africa – with a little help from the multinationals – has seen an explosion of “smartphone” payments system in a continent of largely “unbanked” people. C.A. Fitts suggests that crypto development might reflect, wholly or partly, a modus operandi in which oligarchs let other people do proof of concept, initial investment etc. in technologies of interest, before “hijacking” and monopolising them (see Tim Wu, “The Master Switch”).
Finally, one negative aspect of the “cryptomania”, as distinct from the cryptos themselves, is that is has distracted many in the “alternative community” from setting up and managing local currencies – a laborious and not very remunerative task.
There is that…
and a history of bubbles that pump & dump.
I’m inclined to lean towards the black-op side of the coin.
“They” probably have some kind of quarterback-option to run[keep back/door control of bitcoin] or pass[crash it]; and/or, do the same with fiat-paper. Either way, when the selected Dewey-window/cycle [“time”] comes – they will dust off the appropriate solution[$] – after, of course, they blown up “their” currency[$] of choice; then mount-up their cavalry, come to a “miraculous” scripted-rescue, with their newly proprietarily-minted digital-chains, and systematically enslave their entrained, gullible, glued-to-their-social-video-mirrors, screened, screaming masses.
…and then there’s this latest Max Keiser Bit Coin sales pitch; followed by Jim Rickards[12:55 clicks in] and predicting the future. They discuss puts placed before 9/11 and other tell-tale signs.