Bitcoin as opt out money, defensive technology.

[Doc Sandoz]

The "vaxx passport" as entry to CBDC. Do not fall for the PsyOp. Do not comply.

They need your children! A new financial reset is imminent. – Philosophers Stone

 

[Dave_Fit]

I seriously don't know but I am curious, If they collapse the internet, take it out (cyber attack of some sort) how would you use crypto currencies?

 

[nigma]

I seriously don't know but I am curious, If they collapse the internet, take it out (cyber attack of some sort) how would you use crypto currencies?

Its extremely unlikely they will take out the internet as it is too good of a control tool. What is more likely is that they ban anonymous usage of the internet. Theres a cyber attack, and then they say every needs to access it only with government approved digital ID.

 

[Lollipop2]

Its extremely unlikely they will take out the internet as it is too good of a control tool. What is more likely is that they ban anonymous usage of the internet. Theres a cyber attack, and then they say every needs to access it only with government approved digital ID.

?

 

[tankasnowgod]

I seriously don't know but I am curious, If they collapse the internet, take it out (cyber attack of some sort) how would you use crypto currencies?

How would you use regular currencies? Or your bank? Or work? Or have electricity, water, and gas?

There's a lot of things that rely on the internet today beyond just cryptocurrencies.

Localized or temporary outages are one thing. A full on collapse, and a lot of things are going to be crazy.

 

[Dave_Fit]

How would you use regular currencies? Or your bank? Or work? Or have electricity, water, and gas?

There's a lot of things that rely on the internet today beyond just cryptocurrencies.

Localized or temporary outages are one thing. A full on collapse, and a lot of things are going to be crazy.

Well from past experience with natural disasters, cash was still accepted, primarily because people believe these things temporary. My thought was related to earlier this year with the cyber attack on the oil pipeline eastern US, there were gas outages for roughly 10 days. Not a huge deal, as I filled everything we had up on the first news report, many people don't pay attention and they were left with whatever gas they had for a week. This temporary outage caused disruptions of not only gas but grocery store shelves were in slim supply, kind of like they tend to be now but maybe a little worse. So it seems crypto would not work in a full internet outage, or am I missing something?

 

[Dave_Fit]

Its extremely unlikely they will take out the internet as it is too good of a control tool. What is more likely is that they ban anonymous usage of the internet. Theres a cyber attack, and then they say every needs to access it only with government approved digital ID.

I agree it's too good of a tool to control the masses, and as you seem to suggest taking it down for a month or even two would have people begging for this idea of a digital ID to get back on. The disruption and chaos from a complete outage would be insane and help further whatever agenda they want. How would crypto work when the internet was down? I'm not suggesting it's gone, but how would you use it if needed?

 

[tankasnowgod]

Well from past experience with natural disasters, cash was still accepted, primarily because people believe these things temporary. My thought was related to earlier this year with the cyber attack on the oil pipeline eastern US, there were gas outages for roughly 10 days. Not a huge deal, as I filled everything we had up on the first news report, many people don't pay attention and they were left with whatever gas they had for a week. This temporary outage caused disruptions of not only gas but grocery store shelves were in slim supply, kind of like they tend to be now but maybe a little worse. So it seems crypto would not work in a full internet outage, or am I missing something?

A temporary outage like this would affect crypto the same way it would affect credit cards, and gas..... a temporary interruption in a limited area. It would probably have less effect on most cryptos than other areas, because other areas can easily and quickly pick up any slack from affected areas.

If there were a "full internet outage," well, crypto would be down just like every other service you depend on.... gas, food, electricity, banks, etc etc. So much wouldn't work in a "full internet outage," if such a thing were even possible and long term, that using crypto would be the last of your concerns. Some credit cards even make use of crypto networks (Amex is on Ripple, FWIW).

Banks and other financial services would be just as vulnerable as crypto to a "full internet outage." So, yes, it's a theoretical concern with crypto, but it's also a theoretical concern with checking, savings, credit cards, CDs, stocks, bonds, etc. You should have the same concern for crypto in this regard as you do for those services.

In a full internet outage (long term), you would want food, water, guns, shelter, and ammunition primarily. Maybe some cash, with the bulk of your wealth stored in your land, gold and silver, and other real things in the real world.

The IT crowd already showed us what would happen if the Internet went down-


View: https://www.youtube.com/watch?v=Vywf48Dhyns

 

[Dave_Fit]

In a full internet outage (long term), you would want food, water, guns, shelter, and ammunition primarily. Maybe some cash, with the bulk of your wealth stored in your land, gold and silver, and other real things in the real world.

Thank you for the reply. I am good on the above. Now to figure out the opt out currencies, and diversify primarily to hedge against the insane rampant inflation that is already starting and I fear has to get way worse based on all the dollars pumped into the economy already.

 

[tankasnowgod]

Thank you for the reply. I am good on the above. Now to figure out the opt out currencies, and diversify primarily to hedge against the insane rampant inflation that is already starting and I fear has to get way worse based on all the dollars pumped into the economy already.

I've started to question this idea more and more. The problem with "dollars" pumped into the economy is that it's all debt based. They are all "borrowed" from somewhere (basically, the Federal Reserve). It's all Dual Entry Accounting. Is it really the additional "dollars" that cause inflating prices, or is it higher costs due to interest on debt? I seriously doubt that $7 Trillion dollars in gold released (or produced) into the economy would have the same effect as $7 Trillion dollars in promissory notes "borrowed" from the International Banksters.

This CPA does a good breakdown of our current system-

View: https://www.youtube.com/watch?v=TVlh-v1ZESM&t=1s


Really, there are two economies...... the "real" economy based on goods and services, physical things and actions that can be seen in the real world, and the "financial" economy, which is all just bookeeping (and even cryptos fall into this category, since they are just a high tech distributed ledger). There is clearly a disconnect, as 2020 was a year with the highest unemployment (by a longshot), and also record highs in the stock market. It doesn't make any sense. Why is a company like Tesla valued more than a company like Toyota, when Toyota makes and sells more than 10x the number of cars that Tesla does?

Physical things (including gold and silver) may indeed be a hedge against inflation, as might some cryptos.

 

[Dave_Fit]

I read a book a long time ago with a story to explain fiat money. Something to the effect of a kingdom where everything was bartered but it became difficult so they made coins and came up with agreed prices. The people traded cows, pigs, chickens, apples, etc. for coins. The people of the kingdom were not aware that the blacksmith has minting his own coins all night long. When the blacksmiths counterfeit/fiat money was used to buy cows, land, gold, whatever, he benefits the most because he buys at todays price with no market effect to him. The next person who uses the money benefits too but not as much, but the more fake money in supply and prices start to inflate. The longer a person waits to spend money the more everything costs (inflation) so their money is worth less because the money supply has increased and secretly does not have a cap. Ultimately the Blacksmith becomes the richest man in the kingdom. I probably butchered the story but hopefully it makes sense. I know the story helped me understand counterfeit/fiat money like we have. If the statement I have read and heard repeated many times is true, "40 % of all dollars ever produced were produced in the last year/18 months(?)" then we would expect uncontrolled long term rampant inflation. If the monetary supply has increased this much, when the money reaches the economy, prices will soar as I understand it. Thank you for always giving detailed replies not just to me but many others. I have read many of your replies. ~ Thank you

As for Tesla being worth more than Toyota, of course you know it's based on what people are willing to pay for a stock, as well as what institutional investors want to steer their money toward or support. Toyota should be worth many times more than Tesla, but the investors, institutions or otherwise don't seem to agree. If it were based on production and sales alone that would hold true. If I had a billion dollars to invest, I could choose any company I wanted to invest in, me investing that sum could raise that companies value, and in turn also help that company expand and fulfill what I might hope for as an investor. Value to earning ratio's are completely out of whack and could severely correct, but what do I know. I'm just a lowly grunt, trying to take care of my family.

 

[nigma]

Chart showing returns since 2011.

With return of 66%, Bitcoin topped all major assets for the 3rd straight year.

 

[AlaskaJono]

A temporary outage like this would affect crypto the same way it would affect credit cards, and gas..... a temporary interruption in a limited area. It would probably have less effect on most cryptos than other areas, because other areas can easily and quickly pick up any slack from affected areas.

If there were a "full internet outage," well, crypto would be down just like every other service you depend on.... gas, food, electricity, banks, etc etc. So much wouldn't work in a "full internet outage," if such a thing were even possible and long term, that using crypto would be the last of your concerns. Some credit cards even make use of crypto networks (Amex is on Ripple, FWIW).

Banks and other financial services would be just as vulnerable as crypto to a "full internet outage." So, yes, it's a theoretical concern with crypto, but it's also a theoretical concern with checking, savings, credit cards, CDs, stocks, bonds, etc. You should have the same concern for crypto in this regard as you do for those services.

In a full internet outage (long term), you would want food, water, guns, shelter, and ammunition primarily. Maybe some cash, with the bulk of your wealth stored in your land, gold and silver, and other real things in the real world.

The IT crowd already showed us what would happen if the Internet went down-


View: https://www.youtube.com/watch?v=Vywf48Dhyns

Yup!

 

[Zsazsa]

Russia set for complete ban on cryptocurrencies

Russia could ban cryptocurrency transactions and mining under the proposed new rules

www.rt.com