Later Phase of Digital Currencies Approaches

[amd]

Digital cryptocurrencies based on a blockchain were tolerated by governments because transactions are recorded. You could argue they were intended as bait to get people used to digital money and to move them away from cash.

Department of Justice Seizes $2.3 Million in Cryptocurrency Paid to the Ransomware Extortionists Darkside

Now you have the Fed chairman Powell saying that a US central bank digital currency "could undercut the need for private alternatives such as cryptocurrencies and stablecoins".

Things move relatively slowly, but there's a clear push to eliminate cash and when the time comes, competing private alternatives to a US digital currency won't be tolerated (if we learn from history).

The problem is that once cash is gone, you are at the mercy of the government, then it would be easy to impose negative interest rates in the US.

Some people are invested in the idea of the revolution of digital cryptocurrencies, but there are realities you can't deny.

 

[Regina]

The blockchain and the whitechain

"There is one centralized whitelist of registered addresses."

graymirror.substack.com

 

[Xin]

That's the unfortunate truth. People are dogmatic and truly believe that bankers and world leaders would let a digital currency driven by speculators created by an anonymous person threaten their power and control.

It's just a matter of time before cash disappears and is replaced by digital fed coins.

 

[Peatful]

Already happening in the US in very very small subtle ways:
Ie: fake coin shortage.
Cheaper gas using a card vs cash.
App incentives.

That's the unfortunate truth. People are dogmatic and truly believe that bankers and world leaders would let a digital currency driven by speculators created by an anonymous person threaten their power and control.

It's just a matter of time before cash disappears and is replaced by digital fed coins.

 

[AlaskaJono]

That's the unfortunate truth. People are dogmatic and truly believe that bankers and world leaders would let a digital currency driven by speculators created by an anonymous person threaten their power and control.

It's just a matter of time before cash disappears and is replaced by digital fed coins.

+1 Well put. Probably Satoshi is known by a select few Alphabet agency higher ups. And of course if it is costly to transfer, then it is relatively useless as a currency.

The blockchain and the whitechain

"There is one centralized whitelist of registered addresses."

graymirror.substack.com

Interesting take from Graymirror. Very philosophical approach. Because of my interest in All things Crypto as of late, it seems inevitable that technology will be used to interface/interact with currency, instead of Fiat money that we have been used to. I do not think that ETH will be universally accepted (ie - the entire world) as it is truly a Banker's Coin. JP Morgan worked with the Ethereum Foundation very very early on.

This below was from a Monero Tele forwarded to a site I am on:

- Vitalik hinted in one of his blog posts "there's a high chance that block production will end up centralized".

- The Co-Founder of Ethereum and Founder of ConsenSys Joseph Lubin is part of the WEF and helped JP Morgan centralize Ethereum by helping them gain control over Infura and Metamask (ConsenSys lawsuit reveals JPMorgan owns critical Ethereum infrastructure). Infura is the backbone of most Ethereum DAPPs and DEXes. Joseph even says JP Morgan was collaborating on Ethereum before the 1st block was even mined.

- Aya Miyaguchi who controls the Ethereum Foundation was appointed to the World Economic Forum's Blockchain Global Council.

It seems that a truly decentralized system is NOT what the powers that be want. They need their "game" to continue to slice off the top. (Rigged system). There are too many disguised whales and too much funny business going down at the SEC. Who knows if Hinman will get busted, but... the 'Ethereum free pass' racket is a real thang.

Many Entities (Governments or Central Banks/Megabanks/BlackRock/Vanguard) will want to control the rails of the new monetary system. So of course they will design a system with a top priority for their interests, and we all know they particularly have our interests at the bottom of the list. (Or, not even ON the list.) It is so crazy-making to me that the technology for this and other subjects of importance has not been researched/adopted/promoted for the true good of humanity, but promoted for the financial benefit and control of a select few. I am an idealist at heart, but this is a particularly dark time where lies and faux science are the religion.
WEF is promoting the all inclusiveness of the Metaverse, let's hope they go there and stay there!

 

[amd]

Making people more dependent on a computer and electricity for buying and selling, considering the push for net-zero emissions and the vulnerability to hackers, is a risky proposition.

You are forced into a technology with no alternative, just because politicians want to control you.

If you want to understand the current state of cryptocurrencies, find an online store that accepts Bitcoin, create an account with an exchange, try to use "fiat" (US dollar) to buy Bitcoins, then send those Bitcoins to the wallet of the online store.

That will teach you more by doing than by listening to others.

Still there are other variables to consider like what support cryptocurrencies will have from governments around the world.

A technology with the means to track every single transaction could serve as an interim offering, still allowing for tracking, while giving a false sense of anonymity.

Blockchain started without a clear source for the technology and we know of the push for a cashless society.

 

[Lollipop2]

+1 Well put. Probably Satoshi is known by a select few Alphabet agency higher ups. And of course if it is costly to transfer, then it is relatively useless as a currency.


Interesting take from Graymirror. Very philosophical approach. Because of my interest in All things Crypto as of late, it seems inevitable that technology will be used to interface/interact with currency, instead of Fiat money that we have been used to. I do not think that ETH will be universally accepted (ie - the entire world) as it is truly a Banker's Coin. JP Morgan worked with the Ethereum Foundation very very early on.

This below was from a Monero Tele forwarded to a site I am on:

- Vitalik hinted in one of his blog posts "there's a high chance that block production will end up centralized".

- The Co-Founder of Ethereum and Founder of ConsenSys Joseph Lubin is part of the WEF and helped JP Morgan centralize Ethereum by helping them gain control over Infura and Metamask (ConsenSys lawsuit reveals JPMorgan owns critical Ethereum infrastructure). Infura is the backbone of most Ethereum DAPPs and DEXes. Joseph even says JP Morgan was collaborating on Ethereum before the 1st block was even mined.

- Aya Miyaguchi who controls the Ethereum Foundation was appointed to the World Economic Forum's Blockchain Global Council.

It seems that a truly decentralized system is NOT what the powers that be want. They need their "game" to continue to slice off the top. (Rigged system). There are too many disguised whales and too much funny business going down at the SEC. Who knows if Hinman will get busted, but... the 'Ethereum free pass' racket is a real thang.

Many Entities (Governments or Central Banks/Megabanks/BlackRock/Vanguard) will want to control the rails of the new monetary system. So of course they will design a system with a top priority for their interests, and we all know they particularly have our interests at the bottom of the list. (Or, not even ON the list.) It is so crazy-making to me that the technology for this and other subjects of importance has not been researched/adopted/promoted for the true good of humanity, but promoted for the financial benefit and control of a select few. I am an idealist at heart, but this is a particularly dark time where lies and faux science are the religion.
WEF is promoting the all inclusiveness of the Metaverse, let's hope they go there and stay there!

Thanks for sharing that info on ETH - had no idea. I saw Vitalik speak at a Texas BTC conference back in 2014 when he had written the white paper for Ethereum. Back then the whole crypto space felt like the Wild West - decentralized anarchy. Now it seems manipulated and controlled.

 

[Peat Bogdanoff]

+1 Well put. Probably Satoshi is known by a select few Alphabet agency higher ups. And of course if it is costly to transfer, then it is relatively useless as a currency.

I have heard that the Chinese government claims to ran an AI analysis on posts attributed to Satoshi in order to find idiosyncrasies in composition and identify him using in a database of other online activity, and that it was successful. I don't know if I believe it, because I'm not sure I believe that Satoshi is a single person, and if it is, not using a third person to compose his posts and eliminate identifying traits seems like uncharacteristically poor opsec.

 

[Makrosky]

Thanks for sharing that info on ETH - had no idea. I saw Vitalik speak at a Texas BTC conference back in 2014 when he had written the white paper for Ethereum. Back then the whole crypto space felt like the Wild West - decentralized anarchy. Now it seems manipulated and controlled.

Ethereum is rigged. It became clear to me when I learned about the DAO hack. They (Vitalik and his crew) decided that saving DAO's funds was more important than maintaining two of the main premises of its own project:
- Code is law
- The blockchain is immutable.

So an error on the code instead of law became a bug.
And the immutability became mutable by forking it.

Terrifying. 99% of all the "silicon valley cryptonerds" are in there for the money, the ego or love for technology or challenges. Not to help anyone and not to make the world better. Exception would be monero?

 

[Makrosky]

I have heard that the Chinese government claims to ran an AI analysis on posts attributed to Satoshi in order to find idiosyncrasies in composition and identify him using in a database of other online activity, and that it was successful. I don't know if I believe it, because I'm not sure I believe that Satoshi is a single person, and if it is, not using a third person to compose his posts and eliminate identifying traits seems like uncharacteristically poor opsec.

I would bet almost every country secret intelligence service has that kind of software. At some point a service to rewrite your texts in a way that cannot be traced back to you will become mainstream.

 

[AlaskaJono]

Back to @fico ... yes IMO the technology will continue to be used for nefarious purposes until there is a societal and cultural shift. Sad but true. I am not understanding exactly the digital details of the blockchain technology, basis of crypto coins, but when I saw the vids popping up around 2017 on youtube, I know when I am being 'sold an idea'. It was being pushed on us plain and simple. ( Yes, I do use you tube for my entertainment and informational purposes - like crypto! NOTE: I am not ashamed, but... I am leaning towards weaning myself off most of the G platform this year. Already shifting to Brave from DDG).

This below is from Google search first page- a summary. My concerns are that any and all of these features and characteristics of the technology are not Pure and guaranteed True; Truly Decentralized? Unanimous? Immutable? Already we know these first 2 are false. So it seems a more realistic way for Big Tech/Banks whoever to gather intelligence for their (nefarious) purposes. Would Quantum computing then erase/replace this tech in 5-10 years?

Let's have a look at the primary features of the blockchain technology:

• Immutable. Immutability means that the blockchain is a permanent and unalterable network. ...
• Distributed. All network participants have a copy of the ledger for complete transparency. ...
• Decentralized. ...
• Secure. ...
• Consensus. ...
• Unanimous. ...
• Faster Settlement

@Makrosky @Peat Bogdanoff

 

[Peat Bogdanoff]

Back to @fico ... yes IMO the technology will continue to be used for nefarious purposes until there is a societal and cultural shift. Sad but true. I am not understanding exactly the digital details of the blockchain technology, basis of crypto coins, but when I saw the vids popping up around 2017 on youtube, I know when I am being 'sold an idea'. It was being pushed on us plain and simple. ( Yes, I do use you tube for my entertainment and informational purposes - like crypto! NOTE: I am not ashamed, but... I am leaning towards weaning myself off most of the G platform this year. Already shifting to Brave from DDG).

This below is from Google search first page- a summary. My concerns are that any and all of these features and characteristics of the technology are not Pure and guaranteed True; Truly Decentralized? Unanimous? Immutable? Already we know these first 2 are false. So it seems a more realistic way for Big Tech/Banks whoever to gather intelligence for their (nefarious) purposes. Would Quantum computing then erase/replace this tech in 5-10 years?

Let's have a look at the primary features of the blockchain technology:

• Immutable. Immutability means that the blockchain is a permanent and unalterable network. ...
• Distributed. All network participants have a copy of the ledger for complete transparency. ...
• Decentralized. ...
• Secure. ...
• Consensus. ...
• Unanimous. ...
• Faster Settlement

@Makrosky @Peat Bogdanoff

Honestly, I'm pro-crypto. I think as long as the internet exists there will have to be digital currency, crypto is the only way to do this without being at the mercy of governments and banking systems. I actually believe a lot of the pushback against it is artificial, a psyop by governments and banks to stop people from adopting it. I think the fact that they make any centralized exchange require photo identification is proof that they see it as a threat. They want people to adopt digital currency, but they want it to be only currency they control, currency that they can take from you at any time. What happened to the Canadian truckers would not have happened if they were using Monero.

But it is true that lot of coins are insecure or unstable, a lot are also scams-people need to stop seeing crypto as an investment. The reality is we can't just mail silver to each other every time we purchase goods and services.

 

[AlaskaJono]

Honestly, I'm pro-crypto. I think as long as the internet exists there will have to be digital currency, crypto is the only way to do this without being at the mercy of governments and banking systems. I actually believe a lot of the pushback against it is artificial, a psyop by governments and banks to stop people from adopting it. I think the fact that they make any centralized exchange require photo identification is proof that they see it as a threat. They want people to adopt digital currency, but they want it to be only currency they control, currency that they can take from you at any time. What happened to the Canadian truckers would not have happened if they were using Monero.

But it is true that lot of coins are insecure or unstable, a lot are also scams-people need to stop seeing crypto as an investment. The reality is we can't just mail silver to each other every time we purchase goods and services.

Thanks for your thoughts... .And yep - lotsa psyops going on now. imho the BIGGIES don't want more universal adoption until they own the system! I do hope it does not happen. I bought into the crypto literally just end of 2021 (Not much as we are subsistence level now). The whole crypto market seems quite manipulated because BTC is number one. And most crypto follows that price swing. But I do believe there is going to be separating of the wheat from chaff soon. This year? next year? etc. . There does seem to be the "We need clarity/regulations around this rhetoric from the Industry/Pro Gov't folks", and the Banksters fo sho' are not the ones to trust. There is a lot of positive action and adoption in Asia and the Mid East adopting crypto. And Africa. I'm in Australia now so the Asia-Pacific region affects us greatly.

It does crack me up (funny) that the whole Luna coin was supposed to be tied to a stable coin, but that was a farce! Anyway, a friend of mine here who has made money from crypto (he is a BTC fan, made some money buying/selling) just told me that Ripple company has the SEC lawsuit because they did not pay the man (people) off. Sounds true. Many of them are as corrupt as they come. Long term the HODL will pay off for a few coins I believe, but also help create stability, as all this computer trading is benefiting greatly from micro and giant fluctuations. (Probably the Banksters again!).

 

[Lollipop2]

Ethereum is rigged. It became clear to me when I learned about the DAO hack. They (Vitalik and his crew) decided that saving DAO's funds was more important than maintaining two of the main premises of its own project:
- Code is law
- The blockchain is immutable.

So an error on the code instead of law became a bug.
And the immutability became mutable by forking it.

Terrifying. 99% of all the "silicon valley cryptonerds" are in there for the money, the ego or love for technology or challenges. Not to help anyone and not to make the world better. Exception would be monero?

Good eye on the DAO’s. Monero is probably the most interesting at the moment. Wondering if someone will break its anonymity? I read somewhere a govt agency was paying to hack and break the anonymity. Can’t trace back where I read that. Maybe someone else has heard of this?

 

[amd]

Lets not forget that the US & Europe are at war with Russia over their global plans: Climate Change, The Great Reset, Agenda 2030, etc.

Governments around the world are broke and will do whatever is necessary to remain in power.

This will not go away, expect things to get much worse in the coming years.

WWIII is just starting.

Governments will clamp down on civil liberties and take away whatever freedoms we have left.

In the grand scheme of things, the digital domain will favor those in control, and that is not us. That's the reality.

We shouldn't be playing their game, and this is a high-level statement, it is not about cryptocurrencies per se, but the allure of unrealistic appreciation will draw the masses toward digital currencies in the end.

Speculating in cryptocurrencies is not the same as having a digital currency imposed on you.

Is harder to see ahead when you are invested.

It is not about the cryptos!

 

[Peat Bogdanoff]

Good eye on the DAO’s. Monero is probably the most interesting at the moment. Wondering if someone will break its anonymity? I read somewhere a govt agency was paying to hack and break the anonymity. Can’t trace back where I read that. Maybe someone else has heard of this?

I think it's the FBI that has a bounty for whoever can decrypt Monero, since their primary interest in doing so is prosecutions.

 

[Cloudhands]

what do people think about centralized cryptocurrencies? XRP is currently being held in a stalemate because of the SEC

 

[AlaskaJono]

Lets not forget that the US & Europe are at war with Russia over their global plans: Climate Change, The Great Reset, Agenda 2030, etc.

Governments around the world are broke and will do whatever is necessary to remain in power.

This will not go away, expect things to get much worse in the coming years.

WWIII is just starting.

Governments will clamp down on civil liberties and take away whatever freedoms we have left.

In the grand scheme of things, the digital domain will favor those in control, and that is not us. That's the reality.

We shouldn't be playing their game, and this is a high-level statement, it is not about cryptocurrencies per se, but the allure of unrealistic appreciation will draw the masses toward digital currencies in the end.

Speculating in cryptocurrencies is not the same as having a digital currency imposed on you.

Is harder to see ahead when you are invested.

It is not about the cryptos!

It is NOT about the cryptos! Most Definitely... I agree. I am trying to be positive in a world filled with .... vaccine takers and hawkers, but we are Born Free. So act accordingly. I am serious. Governments have been broke for a long time, but the Banksters/parasite class have been string pullers for a long time. Peeps will get unruly, if they get upset enough. Everyone has a name and address, just sayin'. Back to Cryptos.... yes, just like Etoro with the constant ads... if they can draw peeps into the money scene, then they can pump and dump and escape, buying real assets. As they have been doing for 2 years. I listen to Tom Luongo, and though I do not always agree with him or his analysis, he says along (with others ) that it could be a very rocky road in the near future for a few years. I agree. So start your parallel infrastructure with your local community. Best option always.

 

[VitoScaletta]

Bump
Great thread!

 

[AlaskaJono]

what do people think about centralized cryptocurrencies? XRP is currently being held in a stalemate because of the SEC

I have done 100s of hours of research regarding XRP, and it is not centralized. Please show me if you have evidence it is. Thanks. Because XRP and the XRPL (Ledger) is useful, and transparent and fast, institutions over the world are already using it. Open source transparent and fast. This is why the SEC slapped a lawsuit on it, Jay Clayton SEC Chairman instigated this on his LAST DAY of work on December 22, 2020. Then he got a position with Fireblocks (a crypto asset Fund ) on their Advisory Board. Hmmmmm nothing to see here.
I don't do Twitter, but I did read the beginning of this Tweet this morning regarding XRP. https://twitter.com/theno1waffler/status/1530908469741731841?s=21&t=iqMsogw-WfzIqpVwjaCEaA

Bottom line is that with the SEC lawsuit ongoing, it keeps the price down, and when it is dropped or settled, price could go up substantially. Also in the interim it makes $$$ for Ethereum and others. Speculation, but Bank of England et al, take a look. Lots of info online, and youtube. Lots of lawyers and facts involved. Which is good for truth and clarity and justice. DYOR. ;-)