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Thread: Bitcoin...A suckers paradise.

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    Re: Bitcoin...a suckers paradise???

    I've highlighted some major issues with Bitcoin, including what I believe to be the king of them all since the greed fuelled rise of the past year...they're virtually unusable.

    If you're interested in the realities of Bitcoin and haven't read entire thread then do so.

    Bitcoin is relatively easy to buy for the unsuspecting speculator, which make up 90% of Bitcoin transactions over the last 1-2 years, a value rise of around 1900%... directly fuelled by speculators riding the mania wave of greed. These investors do NOT use Bitcoin for their original purpose. An alleged purpose designed for circumventing the mainstream money institutions after the GFC crisis of 2008.

    A way of purchasing using bitcoin as the transaction method instead of using cash. In essence, no middle Men, no bank, no institutions.

    Even better for the criminal world as these transactions are impossible to trace back to source.

    The Dark web is such a place where Bitcoin was used for several purposes including money laundering. Embedded in the Dark web was the marketplace called The Silk Road where Bitcoin was at it's peak in terms of a transaction method...for obvious reasons. No paper trail or trace back to source for the purchasing and selling of illegal items (drugs, weapons etc) and illegal trading such as Human trafficking and exotic Animals including illegal Ivory, Rhino horns, Animal hides etc.

    As explained in below article, the blockchain technology is the only good thing about the cryptocurrency idea. What we're currently seeing is a gigantic scam self feeding by greed and it's going to blow...

    When one of the leading co-founders of Bitcoin.com has sold out, you should take notice.


    Article:


    THE co-founder of one of the largest bitcoin websites has sold his entire stash, saying the currency is “virtually unusable”.

    BITCOIN entrepreneur Emil Oldenburg is getting out.

    In an interview with Swedish website Breakit, the co-founder and chief technology officer of Bitcoin.com — which offers various services including mining, currency exchange and wallet storage — warned very high fees and long transaction waiting times had made bitcoin “virtually unusable” as a currency.

    “An investment in bitcoin right now I would say is the most risky investment you can make. It is an extremely high risk. I’ve actually sold all my bitcoins recently and switched to bitcoin cash,” he said, referring to the bitcoin ‘fork’ designed to allow for faster, cheaper transactions.

    Mr Oldenburg did not reveal how much he made, but said several of the Tokyo-based company’s employees had become major winners. “We pay all our 60 employees in bitcoins,” he said. “All my salary over the last three years has been in bitcoin.”

    Bitcoin has skyrocketed in value by more than 1900 per cent this year to test $US20,000, but the massive influx of users has put strain on the network, which can only process a limited number of transactions per second.

    Users who volunteer higher fees to the “miners” — the computers which continually work together to verify and add to the blockchain — have a greater likelihood of having their transaction processed in the next “block”.

    As a result, the average cost to complete a transaction has skyrocketed in recent weeks, from around $US6 to $US26. “It costs a lot to transfer bitcoins to and from the stock exchanges,” Mr Oldenburg said. “When I sold my bitcoin I had to pay $US50 and wait 12 hours for the transaction to go through because of this. It’s completely unreasonable.”

    The bitcoin community has been bitterly split on the issue of technology upgrades which would potentially speed up the network. That divide led to the creation in August this year of bitcoin cash, which Mr Oldenburg and his business partner, Bitcoin.com chief executive Roger Ver, have been aggressively promoting.

    “It’s a group of fanatic bitcoin Talibans who themselves do not use bitcoin everyday [who] want it like this,” Mr Oldenburg said.

    “They see bitcoin like digital gold and a technical experiment, not something you should actually use. It will never be a currency used in everyday life or for people who run companies.

    “We have actually stopped developing new services for the old bitcoin network now and focus mostly on bitcoin cash. There it only costs 10 öre ($0.02) to send and no waiting times. The only [downside] is that bigger hard drives are required, but it’s not a problem for most.”

    Mr Oldenburg said despite the massive influx of investors pushing up the price of bitcoin, the vast majority had not experienced the low user-friendliness, high fees and long wait times — because most had only bought bitcoin, but never sold or traded the currency.

    “As soon as people realise that this is how it works, [they] will start selling,” he said. “The old bitcoin network is virtually unusable.”

    He added didn’t think bitcoin would be the “world currency” as some had predicted. “No, I do not think so,” he said. “Not as long as the network is controlled by this group as I mentioned. It’s at bitcoin cash that the solutions are there, that’s where I see a future.”
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    Re: Bitcoin...a suckers paradise???

    Well, what a volatile 24 hours...

    We shouldn't be surprised though seen as this mania is just that...mania, yet that's not the biggest problem. That problem is the total lack of regulation and oversight, something which was one of the original attractions to the invention of Bitcoin. A system designed to circumvent and mitigate the banking cartels monopoly...yeah ok.. read on.

    Yesterday we read:

    THE co-founder of one of the largest bitcoin websites has sold his entire stash, saying the currency is “virtually unusable”.
    Unusable due to long delays and fees accrued when doing a transaction.

    So,
    “An investment in bitcoin right now I would say is the most risky investment you can make. It is an extremely high risk. I’ve actually sold all my bitcoins recently and switched to bitcoin cash,” he said, referring to the bitcoin ‘fork’ designed to allow for faster, cheaper transactions.
    So, for me this reeks with inside manipulation and design selling his entire stock of bitcoin to then move and support bitcoin cash. Here's a taste of what I mean:

    It comes after the co-founder of the Bitcoin.com website and bitcoin cash backer Emil Oldenburg announced he had sold his entire bitcoin stash, describing the original bitcoin as “virtually unusable” as a currency due to high fees and long wait times. Mr Oldenburg’s business partner and chief executive of Bitcoin.com, Roger Ver, is one of the key figures behind the offshoot currency.
    Below is original article.

    And today we see Bitcoin plummet


    Bitcoin price plummets as Coinbase adds support for rival bitcoin cash.

    BITCOIN’S price has gone into free fall as bitcoin cash spikes, after the largest exchange announced it would support Bitcoins rival.

    THE world’s largest cryptocurrency exchange has sent the price of bitcoin into free fall with the announcement it was adding support for rival currency bitcoin cash.

    In a blog post on Tuesday, Coinbase said its more than 30 million customers would immediately be able to buy, sell, send and receive bitcoin cash.

    Bitcoin cash is an offshoot or “fork” of the main bitcoin line, created in August this year, designed to allow for faster and cheaper transactions.

    Following the news, bitcoin’s price plummeted by 15 per cent, from a high of around $US18,400 to bottom out at $US15,580, according to research site CoinDesk. By early afternoon on Wednesday it was trading at around $US16,170.
    Meanwhile, the price of bitcoin cash is skyrocketing, nearly doubling from around $US1850 on Tuesday to $US3500 at the time of writing.

    Coinbase said customers who held bitcoin at the time of the fork on 1 August 2017 had been automatically credited with the appropriate amount of bitcoin cash for their accounts.

    “Sends and receives are available immediately,” the company said. “Buys and sells will be available to all customers once there is sufficient liquidity on GDAX. We anticipate that this will take a few hours.

    “We have been monitoring the bitcoin cash network over the last few months and have decided to enable full support including the ability to buy, sell, send and receive. Factors we considered include developer and community support, security, stability, market price and trading volume.

    “Coinbase maintains a strict trading policy and internal guidelines for employees. Coinbase employees have been prohibited from trading in bitcoin cash for several weeks.”

    It comes after the co-founder of the Bitcoin.com website and bitcoin cash backer Emil Oldenburg announced he had sold his entire bitcoin stash, describing the original bitcoin as “virtually unusable” as a currency due to high fees and long wait times.

    “When I sold my bitcoin I had to pay $US50 and wait 12 hours for the transaction to go through because of this,” Mr Oldenburg told Swedish website Breakit. “It’s completely unreasonable.”

    Mr Oldenburg’s business partner and chief executive of Bitcoin.com, Roger Ver, is one of the key figures behind the offshoot currency.

    Meanwhile, the US Securities and Exchange Commission has temporarily suspended trading in a popular bitcoin-related stock whose price has soared by more than 5600 per cent year to reach a market valuation of $US11.3 billion, citing concerns about market manipulation.

    Australian James Gilbert, the president and largest shareholder of blockchain technology specialist The Crypto Company, has seen his stake in the company balloon to $US1 billion, The Australian Financial Review reported.

    In a statement, the SEC said trading was suspended “because of concerns regarding the accuracy and adequacy of information in the marketplace about, among other things, the compensation paid for promotion of the company, and statements in Commission filings about the plans of the company’s insiders to sell their shares of The Crypto Company’s common stock”.

    “Questions have also arisen concerning potentially manipulative transactions in the company’s stock in November 2017,” the SEC said. “The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities of the above-listed company.”
    Last edited by Ross; 12-20-2017 at 11:08 AM.
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    Re: Bitcoin...a suckers paradise???

    Nathan Mayer Rothschild. Wellington. Napoleon. Battle of Waterloo. London Stock Exchange. Stock manipulation.

    Here's the quick account in a videoclip:


    And here's one of the mainstream rags, The Independent, trying to discredit the account:
    http://www.independent.co.uk/news/uk...-10216101.html

    Satisfy yourself as to which account is more credible.

    FWIW, the catchword "antiSemite" (coined by the Zionist agenda to paint a false picture of animosity against Jews, which the so-called Jews could then use to claim victimhood and demand reparations) ... is strategically used in The Independent's article to prepare a narrative of animosity against Jews. That's a free giveaway that the mainstream rag's account of the Battle of Waterloo is false.

    The narrative of Zionism is false, based on extensively documented evidence that includes "The Protocols" and "The Balfour Declaration" ... so anyone defending this narrative is automatically party to the deception. The attempted discrediting of the Rothschild takeover of the Bank of England is being waged by agents of the Rothschild agenda, for no one else has a profit motive in hiding the facts of Nathan Mayer Rothschild's theft of Prince William the IX of HesseHanau's treasury, which he then used to finance the "Battle of Waterloo" legerdemain.

    In any event, back to Bitcoin and Coinbase and the common links between the two, this is nothing more than a modern attempt to gain vast fortunes through deception and the theft of purchasing power (e.g. buying value). I wouldn't be surprised in the least if the co-founders of Bitcoin.com and the inventor of Bitcoin itself (some Aussie named Craig Wright who went by the name Satoshi Nakamoto) ... have intimate connections to the Zionist agenda. Bitcoin has all the markings of a "Battle of Waterloo" psyops.

    https://www.cnbc.com/2016/05/02/bitc...-revealed.html

    Bitcoin, Coinbase, etc. ... together offer a vehicle to transfer economic value from fiat paper to a cashless currency, which is the next big project lined up by those whose ancestors had originally manipulated the transfer of economic value from the bartering of goods and services to fiat paper, centuries before. Back then, facilitating commerce was the apparent reason for the transfer.

    Today, facilitating commerce is once again the apparent reason ... and digital currency is the Trojan Horse (by which the Greeks are again helping themselves to the tits and estates of Troy).


    Pax
    Last edited by Zook_e_Pi; 12-21-2017 at 06:17 AM.

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    Re: Bitcoin...a suckers paradise???

    Quote Originally Posted by Zook_e_Pi View Post
    I wouldn't be surprised in the least if the co-founders of Bitcoin.com and the inventor of Bitcoin itself (some Aussie named Craig Wright who went by the name Satoshi Nakamoto) ... have intimate connections to the Zionist agenda. Bitcoin has all the markings of a "Battle of Waterloo" psyops.
    Perhaps but more probable it's just plain old greed and the smarts to invent and implement the crypto blockchain. That took some decent brain power. The mining, limited bitcoin and it's mania has indeed taken many by surprise including orthodox monetary institutions.
    Ross
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    Re: Bitcoin...a suckers paradise???

    Quote Originally Posted by Ross View Post
    Perhaps but more probable it's just plain old greed and the smarts to invent and implement the crypto blockchain. That took some decent brain power. The mining, limited bitcoin and it's mania has indeed taken many by surprise including orthodox monetary institutions.
    We'll have to disagree on the probability aspect of it. To me, it's a virtual slam dunk that Bitcoin is a psyops. It has all the markings.

    Mind you, some independent maths-oriented high-wattage light bulb may indeed have discovered/uncovered the technology ... but to then actually implement it on a wide global scale would definitely require the involvement of globalists. The globalists control the machinery required to promote a new method of commerce on such a grand scale. Machinery that includes print media, Facebook, Youtube, Google, etc.

    But the clues of a system-engineered pysops are much simpler than that. Just look at the situation with free energy, a radical new alternative to fossil fuels. It's been available in our knowledgebase at least as early as Tesla's era. But why has it been blocked from entering competition with fossil fuels? The globalists don't want to lose control of their cash cow and golden goose. Decentralizing energy access would have eliminated monopoly. And the globalists are nothing without their monopoly.

    Transfer the understanding from energy to currency, and you'll find yourself a Eureka moment.

    The globalists own the currency game currently (pun intended). Fiat currency is the lifeblood of their centralized, monopolistic grip on natural and human resources. Why would bloodsuckers give up a blood supply if they have control over it? ANS: they wouldn't. Nature tells us this. For example, mosquitoes risk life itself while attempting to get control of blood supplies, pick a supply, any supply. Now, that may be an interesting meme for most of us to reflect on ... but for cutthroats - here, after two world wars and countless civil wars under their belts, the Zionist banksters are underappreciated and underannounced if they are not formally introduced as cutthroats - it's practically coded into their genes.

    Back to Bitcoin, if Bitcoin really did threaten the existing global currency monopoly, it would be blocked akin to free energy. The fact that it's being allowed to reach this stage of development is solid circumstantial evidence that the globalists have a stake in Bitcoin. Add to this the data point that a co-founder of Bitcoin.com is the leading promoter of an adversarial electronic currency, Coinbase; too, the data point of Craig Wright using pseudonym Satoshi Nakamoto ... and we begin to see the breakdown of authenticity.

    So we have at the beginning a possible (probable??) genius discovering Bitcoin technology; but by the time the general public is aware of it, it has been co-opted by the corrupted system and the cutthroat money monopoly. It is now fully in their hands. Not unlike free energy. Even Tesla, the prototypical genius, could do nothing to break the monopoly of the energy game. Free energy is real in 2017 as it was in Tesla's time, but it's still not available to the general masses. Bitcoin is real for all intents and purposes, but it won't ever be allowed to develop to the extent that it decentralizes the control of money.

    But as long as it permits gaming by cutthroats and cutthroat associates (e.g. Craig White, Emil, Oldenburg, Fred Ehrsam, Charlie Lee, Brian Armstrong, etc.) ... we can be confident that the corrupted system is gaining some advantage through the promotion of sundry digital currencies like Bitcoin, Bitcoin Cash, Coinbase, Litecoin ... Pimpcoin??... etc.

    https://www.google.co.in/search?rlz=....0.M42GZpfTd3E


    Indeed, one huge advantage is built into digital currencies and that is this: they are the perfect vehicle to get the general population interested, familiarized, and primed for the shift into cashless commerce. Cashless commerce, needless to say, is worrisome with cause, at least from the average Joe's point of view. Where there is no transparency, there is no oversight. At least with physical money, there is a definite amount of transparency. You either hold it, or you have it in a bank waiting to be retrieved. But what if there is nothing physically to hold, not even a bank book to take to the bank to show them how much of their virtual cash is yours? Digital currency is stored in electronic wallets. Even if you obtain physical statements of what's in your electronic wallets (is that even possible with blockchains??, I don't know, I'm asking), there's still no clarity on the matter. In an apparent paradox, there is no central authority overseeing decentralized digital currency exchanges. That would be illogical. So we are then left with entrusting localized centers (such as Bitcoin.com, Coinbase, etc.) to guarantee that our purchasing power is protected. But what if they go belly up? Is there deposit insurance? What then? That sorta thing. At least, the current system has insurance tracks running in parallel with the money tracks.

    Anyways, I'm a novice at understanding digital currencies so maybe I'm not understanding things as they are being presented to me. That said, what is clear to me is that if digital currencies are being allowed into the matrix, then that is by design. They have kept free energy out, by design. They are now bringing in digital currencies, by design. Nothing major ever happens without design, and certainly not on a large scale. This has been the case for almost two centuries now.


    Pax

    ps: The push for a cashless society is part of the Zionist agenda. If there is enough interest, I will research further and post the documentation here.

    ps2: What has thus far protected the average Joe from total elitist secrecy is that fiat paper money cannot be created or destroyed as quickly as digital currency. In the sloth of time are the checks and balances, and a sanctuary away from the anxiety of trusting one's purchasing power to a corrupted system constantly being manipulated by organized elites. To wit, if we lose the sloth of time we lose our sanctuary ... and we win back our anxieties. That sorta thing.

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    Re: Bitcoin...a suckers paradise???

    Sure, it could be a designed globalist agenda...But I'm not that sure...

    Our society is almost already @ 50% cashless. And that is now exponentially increasing with the available android pay and apple pay systems. Australia is already @ 50% and NZ is even higher.

    1st world countries across the board are almost there too.

    Give it another 1-5 years and you'll see that % increase 10 fold. The money Men do not need a cryptocurrency to convert the masses to a cashless one.

    When you track back to the silk road and the Dark-web illegal activity, you can clearly see how the crypto became the only go-to method of transaction. The Globalist do not or have any need to infiltrate this market. They already have the monopolies over the drug and weapons markets outside of the dark-web.

    Crypto cannot be traced back to source...the globalists do not need a system like that for their advantage to make more profit off the masses, they already have that one sewn up and secure. Crypto works against them not for them...one could argue they're involved and have aided in the 1900% rise over the last year and are cashing in on the manipulated currency, but that does not make sense in terms of turning a profit due to the tiny amounts generated...around 300 billion in total across all investors. In the scheme of things that's nothing. Read below for more on that.

    The supposed "Satoshi Nakamoto" has never been proven as to who the real person or persons are. You state the Australian fellow as fact when there is none. Speculation is all that is, just as Elon Musk is speculated as being the brain-child behind it. I'm of the mind it's someone distant from the global reach...in the beginning.

    The Globalists do not have the ability to control bitcoin outside of crashing the WWW, but they can and could well be countering bitcoin with other crypto's and very possibly behind the new bitcoin cash. That's the only way they can influence or in fact destroy it down to a level that is miniscule and fear ridden by the investors. Meanwhile the crypto tech will be carefully dissected for the day the Globalists introduce their one and only version for the mass market...

    It's a very fluid situation and all we can do is wait and watch it unfold.
    Last edited by Ross; 12-22-2017 at 12:11 PM.
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    Re: Bitcoin...a suckers paradise???

    Quote Originally Posted by Ross View Post
    Sure, it could be a designed globalist agenda...But I'm not that sure...
    In the end, it doesn't really matter if you fail to see what I see as obvious global fingerprints, Ross. As long as you recognize that Bitcoin is same old same old "something for nothing" scam, then its origins are not that relevant. I'm providing some extra bit of insight for those who want to go further and see the rest of the Bitcoin story via the crystal ball of patterns and probabilities.

    For me, the probability of "scam" is small potatoes. The greater potato bag, indeed, the potato field, resides in "designed psyops". Until and unless people start focusing and exposing the larger psyops and commit to identifying those behind the design of things, we'll all just be fodder for scam after scam after scam, and false flag after false flag after false flag. Just like the globalists want it to be.

    Again, scale in the 21st century is tightly controlled by the power pyramid. If at one time small and independent, the moment Bitcoin crossed threshold scale it became the asset of those in control of the power pyramid and a psyops. If at no time independent, then the psyops was there from the beginning. In either case, it is now only a psyops.

    Our society is almost already @ 50% cashless. And that is now exponentially increasing with the available android pay and apple pay systems. Australia is already @ 50% and NZ is even higher.
    Yes, already halfway cashless. But how did it get to this point? By design? Or as the natural byproduct of a digital world? I mean, the rational expectation is that a digital world will have digital currency. That said, a cashless society is not 50% cashless ... it's a paradigm shift from paper accounting to digital accounting.

    I will give you two objects to ponder. The organic human being. The inorganic robot. Man versus machine revisited. Cyborgs beginning at 99% organic human being and running the range to the fully inorganic robotic state. Question begs: at what point do we want to halt the migration into an automatonic species?

    Should we minimize carbon-based contribution and maximize silicon-based contribution? Vice versa? Or should we seek a balance somewhere in between?

    I'm not a Luddite. I accept that some silicon-based construction is essential to the evolution of the species. Still, I can't think of any sane person opting for any equilibrium that favors silicon-based contributions. My own balance points are closer to 90% carbon/
    10% silicon. I'm heavily biased in favor of organic humanity. YMMV.

    Now, let's transpose this narrative to Bitcoin or digital currencies in general. Do we really want to let silicon constructions take over 100% accounting of economic value (as per digital currencies)? Or do we want to retain a portion of the accounting in organic hands with all its inefficiencies (as per paper currencies)? Once you find the answer to that question, you'll establish the merits or lack thereof of a cashless society.

    IMO, the moment we transfer full management of economic value to silicon constructions and the programmers (e.g. all robots must be programmed) ... it will tip the equilibrium to a dangerously unstable situation where the machine and the programmers of the machines will have unlimited and unchecked power.

    Let's all pause for a minute while the fat lady gets ready to sing: Requiem For Humanity.


    1st world countries across the board are almost there too.

    Give it another 1-5 years and you'll see that % increase 10 fold. The money Men do not need a cryptocurrency to convert the masses to a cashless one.
    A willing masses is much more manageable than an unwilling masses. Which is why a psyops is needed. Change the psychology of the slaves and they will sign their own death warrants (written in the fine print, of course). That sorta thing.

    When you track back to the silk road and the Dark-web illegal activity, you can clearly see how the crypto became the only go-to method of transaction. The Globalist do not or have any need to infiltrate this market. They already have the monopolies over the drug and weapons markets outside of the dark-web.

    Crypto cannot be traced back to source...the globalists do not need a system like that for their advantage to make more profit off the masses, they already have that one sewn up and secure. Crypto works against them not for them...one could argue they're involved and have aided in the 1900% rise over the last year and are cashing in on the manipulated currency, but that does not make sense in terms of turning a profit due to the tiny amounts generated...around 300 billion in total across all investors. In the scheme of things that's nothing. Read below for more on that.

    The supposed "Satoshi Nakamoto" has never been proven as to who the real person or persons are. You state the Australian fellow as fact when there is none. Speculation is all that is, just as Elon Musk is speculated as being the brain-child behind it. I'm of the mind it's someone distant from the global reach...in the beginning.
    The globalists constitute the Shadow Government. Question begs, if they own both the World and the underWorld, then by what fantastic stroke of good luck (for the rest of us) do they not own the Dark-Web? Here, I must add that the globalists most potent weapon is psychology; for they remain outnumbered by three orders of magnitude.

    The Globalists do not have the ability to control bitcoin outside of crashing the WWW, but they can and could well be countering bitcoin with other crypto's and very possibly behind the new bitcoin cash. That's the only way they can influence or in fact destroy it down to a level that is miniscule and fear ridden by the investors. Meanwhile the crypto tech will be carefully dissected for the day the Globalists introduce their one and only version for the mass market...

    It's a very fluid situation and all we can do is wait and watch it unfold.
    You have an interesting perspective, Ross.

    I definitely will not be waiting quietly for things to unfold as expected, not when I can clearly see the patterns and the probabilities. I'm raising the alarm now because I see Bitcoin well beyond its threshold scale. Threshold scale delineates the boundary between independent enterprise and what the globalists will no longer permit as independent enterprise. They own the digital currency industry lock, stock, and barrel.

    They seized the more or less random world of a time long ago, through several centuries of controlling the issuance of money. I hardly think they'll allow any outsider a piece of their monopoly and con game, unless it's a small tidbit here or there. Alas, tidbits are well within threshold scale. Anyways, the topic has expired my further desire to stick with it. We'll have to agree to disagree.

    My new Casio keyboard came in the mail just yesterday and I'm rearing to have a go at it.


    Pax
    Last edited by Zook_e_Pi; 12-23-2017 at 04:42 AM.

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    Re: Bitcoin...a suckers paradise???

    Quote Originally Posted by Zook_e_Pi View Post
    In the end, it doesn't really matter if you fail to see what I see as obvious global fingerprints, Ross. As long as you recognize that Bitcoin is same old same old "something for nothing" scam,
    Fail...hmmm, guess you've not read thoroughly my view. I have said 'not so sure'. The Universe is full of probabilities but that does not mean it's always the reality...

    If you had read carefully you'd have noticed I've mentioned scam several times.

    Guess you're bias has set those filters to fog...Not all things are globalist control or a conspiracy, and for the sake of the reader, it's always worth remembering that Man in the general sense is greedy and self-serving and by definition is complicit across the board. Not all things are a psyop...

    Enjoy your keyboard Zook, mine has just blown the microprocessor board...
    Ross
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    Re: Bitcoin...a suckers paradise???

    The fruitless search for Satoshi Nakamoto.

    Below is a well researched investigation into the real identity of the alleged Bitcoin cryptographic inventor.

    Zook, and in all fairness, made the mistake of confirming the real identity as an Australian fellow named Craig Wright. Easy to do, as he confessed to being the inventor and an subsequent investigation into this dude eventually led to a "case closed" But...that was not the end of it and the case was reopened.

    Below article brings us all up to speed as to the current investigation.



    WHEN bitcoin hit its most recent all-time-high in value at the beginning of the week, its inventor broke into the list of the world’s 50 richest people. But unlike the others to crack the glamorous club, we have no idea who he, she, or possibly they are.

    What we do know, thanks to the blockchain ledger that records all transactions on the network, the creator of bitcoin is thought to still hold 980,000 coins, which at the time of writing are worth about $A21.3 billion.

    The inventor of the so-called currency goes by the mysterious pseudonym Satoshi Nakamoto and whoever he or she is, they have managed to amass an eye-watering amount of wealth in the short space of a decade — assuming of course the digital tokens remain at their current level of value.

    But the person who has lured close to $370 billion (roughly bitcoin’s current market cap) to their creation has remarkably remained anonymous.

    Nakamoto’s identity has been the subject of widespread speculation since 2008 when the mysterious figure published the “white paper” that outlined bitcoin’s revolutionary technology.

    Since then a number of people have been suspected of being behind it. Desperate sleuths have even pointed the finger at Tesla CEO Elon Musk as the man responsible.

    WILL THE REAL SATOSHI PLEASE STAND UP?

    The now iconic white paper, which was published on P2P Foundation, said the elusive Nakamoto lived in Japan and was born in 1975.

    In March 2014, the world’s media thought they had found him claiming he was a computer engineer living in Temple City in Los Angeles County. The Japanese-American man, named Dorian Satoshi Nakamoto, quickly found himself at the centre of a media frenzy as photographers and journalists camped out on his front lawn.

    Trained as a physicist he had worked as a systems engineer on classified defence projects and as a computer engineer for technology and financial companies. But the seemingly oblivious 64-year-old denied he was the shadowy force behind the cryptocurrency.

    An article in the magazine Newsweek initially identified him. But shortly after giving a media interview in which he denied any involvement, Nakamoto’s P2P Foundation account posted its first message in five years, writing: “I am not Dorian Nakamoto.”

    However, it is generally believed that the P2P Foundation account was hacked and the message was not sent by the real Nakamoto.

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    Dorian S. Nakamoto denied being the creator of bitcoin after being identified by Newsweek magazine.


    It soon emerged that computer scientist and cryptographic pioneer Hal Finney, who was the recipient of the very first bitcoin transaction, lived a “few blocks” from Dorian Nakamoto.

    Forbes journalist Andy Greenberg attempted to interview Finney at his home, despite him battling terminal disease Amyotrophic Lateral Sclerosis which meant he was unable to speak or move his muscles.

    After a writing analysis firm compared a sample of Finney’s writing to Satoshi Nakamoto’s, Greenberg theorised that Finney, who appeared amused when the journalist asked if he knew Nakamoto, was either the ghostwriter for the bitcoin creator or simply used his neighbour’s name as a moniker.

    However Finney denied being the ghost writer of bitcoin and Greenberg would eventually believe he was telling the truth.

    THE AUSTRALIAN CONNECTION

    Arguably the closest we’ve come (if you can even say such a thing) to unmasking Nakamoto was when Australian authorities raided the home of Craig Wright for tax-related issues.

    In December 2015, both Gizmodo and Wired published parallel investigations which identified the Australian academic as the likely inventor of the digital currency. The Sydney resident later confessed and publicly admitted to being the long-sought-after bitcoin creator.

    At the time, he posted a lengthy admission on his personal blog and subsequently did the media rounds providing what he said was proof of his claim.

    “I have been staring at my screen for hours,” Dr Wright wrote. “But I cannot summon the words to express the depth of my gratitude to those that have supported the bitcoin project from its inception.”

    “Australian Craig Wright identifies himself as bitcoin creator, ending years of speculation,” declared the BBC.
    For a brief, fleeting moment, it was case closed.

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    The Aussie connection ... Craig Wright claimed to be the inventor of virtual currency.


    But social media site Reddit was quick to claim it had debunked his admission, spawning a number of conspiracy theories and pretty soon a torrent of sceptics rebutted Wright’s claims.

    Gregory Maxwell, a leading developer working on bitcoin’s basic software wrote in an email to The New York Times that Dr Wright’s evidence “demonstrates no connection between this person and bitcoin’s creation”.

    “This is a scam,” security researcher Dan Kaminsky wrote in a blog post during the frenzy. “Not maybe. Not possibly. Wright’s done classic misdirection by generating different scams for different audiences.”

    As the dust eventually settled without an emphatic resolution, Wright retreated back into the shadows and the mystery endured. The consensus view was that Nakamoto remained out there.

    THE OTHERS

    Prior to Wright grabbing the spotlight, a raft of other potential candidates were accused of being behind bitcoin.

    The list includes Irish cryptography student Michael Clear, Finnish game developer Vili Lehdonvirta, and even a trio of developers identified by US business magazine Fast Company.

    Michael Clear, who at the time was a young graduate student in cryptography at Trinity College in Dublin, was accused by the New Yorker’s Joshua Davis of being Satoshi Nakamoto in 2011.

    In the end, Clear led Davis to another man who he eventually thought might be responsible: Finnish games developer and social economist Vili Lehdonvirta who supposedly “matched the profile of the [bitcoin] author on many levels”.
    But once again, it was a dead end.

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    Vili Lehdonvirta, like the others, denied being behind bitcoin.


    There have been a handful of other names thrown in the ring over the years including a decentralised currency enthusiast named Nick Szabo who published a paper on “bit gold” which was considered to be a precursor to the famous cryptocurrency. Somewhat coincidentally he was also said to have been very interested in the use of pseudonyms.

    In 2015, Nathaniel Popper wrote in the New York Times that “the most convincing evidence pointed to a reclusive American man of Hungarian descent named Nick Szabo.”

    Like the others, however, he denied the charge and lashed out at the media for hounding him.

    To date, arguably none of the potential Nakamoto candidates have commanded as much hype or degree of speculation as Australian Craig Wright, the only person to really welcome the accusation of being bitcoin’s inventor.

    THE POINTLESS GOOSE CHASE

    The anonymity of its origin certainly isn’t necessary for a cryptocurrency to flourish. A raft of other digital coin systems have been broadly adopted in recent years, often making their creators rich in the process.

    This week Charlie Lee, the creator of litecoin which has a current market cap of $26 billion, announced he had cashed in all his holdings following a spectacular yearly rise in value of more than 8000 per cent.

    It might add to the mystique of the most recognisable cryptocurrency that its inventor remains unknown. But for the true believers — who claim it will completely disrupt traditional fiat currencies — it is inconsequential who is behind it.

    And it clearly doesn’t matter to the huge number of people who have poured at least part of their savings into bitcoin in recent times. GOOSE CHASE

    For now, Satoshi Nakamoto remains firmly in the realm of tech and financial folklore.
    Despite countless investigations and analysis, nobody has managed to uncover the truth behind his or her identity.
    But at least for the time being, their creation goes from strength to strength.
    Ross
    ***Fred Coleman, Founding Partner, Beloved Friend***
    who passed away 11/10/2016
    Rest in Peace
    ***

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    Zook_e_Pi (12-26-2017)

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    Re: Bitcoin...a suckers paradise???

    Quote Originally Posted by Ross View Post
    The fruitless search for Satoshi Nakamoto.

    Below is a well researched investigation into the real identity of the alleged Bitcoin cryptographic inventor.

    Zook, and in all fairness, made the mistake of confirming the real identity as an Australian fellow named Craig Wright. Easy to do, as he confessed to being the inventor and an subsequent investigation into this dude eventually led to a "case closed" But...that was not the end of it and the case was reopened.
    Confirm?? I'm sorry, Ross. I don't have the power to confirm, I merely have the same tools to investigate as anyone else. I gave the URL to the article. My preliminary research has led to Craig Wright as the apparent founder behind Bitcoin. But that doesn't mean it's an absolute truth that he's confirmed as being the founder. Patterns and probability clouds give us best guesses. Preliminary data points to work with until and unless that time arrives when the data point is made invalid.

    That said, the rest of your post reaffirms what I've been arguing about Bitcoin being a psyops. Doesn't it strike you at all strange that no one has been absolutely confirmed as the founder of bitcoin technology? If I had discovered the technology, I'd scream it to the top of the Petronas Towers that I was the genius behind bitcoin ... that I'm officially giving the go ahead to municipalities great and small so that they may create theme parks, erect bronze statues, build stadiums, and compose symphonies in my name.

    The fact that there is still so much mystery behind Bitcoin, Craig Wright with standing, is circumstantial evidence that Bitcoin is not an independent discovery by an independent genius.

    Pax
    Last edited by Zook_e_Pi; 12-26-2017 at 05:31 AM.

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