THERE WILL BE A DIGITAL CURRENCY: IT JUST WON'T BE BITCOIN
Origins shrouded in Mystery, a decentralized FIAT currency comes into existence out of nowhere. Names like Satoshi Nakamoto and Craig Steven Wright are thrown into the ring. MEDIA that is not only guided but directed by Intelligence agencies seems to promote an air of heroism and mysticism around the subject.
NOV 19th, 2013: An Abridged History of Bitcoin. NYT
OCT 10th, 2011, NEWYORKER MAGAZINE.
THERE ARE COUNTLESS OTHER MEDIA REFERENCES DATING BACK TO NEARLY A DECADE AGO.
The principles and mechanisms have been theorized and worked out FOR A LONG TIME.
I will post some references here.
Okamoto and Ohta's system was implemented by NTT and is scheduled to be used experimentally sometime in 1996. See Tatsuaki Okamoto and Kazuo Ohta, 1991. "Universal electronic cash," Advances in Cryptgraphy-Crypto91, Lecture Notes in Computer Science, vol. 576, pp. 324-337.
- Nick Szabo, 1993. "Multinational small business," http://www.digicash.com/~nick/multi.small.html
- Some anticipate that government will not allow digital cash to bypass regulated conventional foreign-exchange markets; see Anonymous, 1994. "Electronic money: So much for the cashless society," Economist, vol. 333, no. 7891 (November 24), pp. 23-27.
- Creating new money in cyberspace may sound strange. But there are analogs in the real world: the ECU (European Currency Unit) of the European Union and the SDR (Special Drawing Right) of the International Monetary Fund. The idea of a transnational currency has a long history; see, for example, the proposal for a Supernational Credit Money to stabilize the international monetary system in Robert Guttmann, 1994. How Credit money shapes the economy: The United States in the global system. Armonk, N. Y., Sharpe, 561 p. A new cyberspace currency represents an evolutionary path for digital cash; see Anonymous, 1994. "Electronic money: So much for the cashless society," Economist, vol. 333, no. 7891 (November 24), pp. 23-27.
Possible economic consequences of digital cash by Tatsuo Tanaka.
First Monday, Volume 1, Number 2 - 5 August 1996
http://firstmonday.org/ojs/index.php/fm/article/view/474/830
JUST A FEW REFERNCES AND EXCERPTS FOR VIEWER TO UNDERSTAND THAT THEORY AND PRACTICE OF DIGITAL CURRENCY HAS BEEN DISSECTED BY THENPOWERS TO BE FOR DECADES.
It is thus not a brilliant idea of one man but the idea of many for many decades. Currencies have their cycles. It is well understood that the American dollar must also die. Death is not absolute. There is almost no way to go back to ANYTHING BACKED CURRENCY. That is another topic for another day.
A new system must come into place and still must maintain the Power Pyramid of the existing powers. A new FIAT SYSTEM AND A NEW ILLUSION MUST BE CREATED.
There is no need for money. There is simply a need for an exchange medium that provides an illusion of money. A days work can be translated into any digital code and deemed currency to legitimize it and its value manipulated to suit the needs of the powers to be. What made America great were its citizens. What made America a Military Industrial Complex power was the Petro dollar.
Anyways, I think I am straying.
Mathematical Algorithms that have worked so beautifully NEED A MASSIVE TEAM OF DEVELOPERS WITH MASSIVE SERVERS POTENTIALLY AIDED BY QUANTUM COMPUTING AND UNLIMITED RESOURCES AND TIME.
The development and explosion of cryptocurrency is not one mans dream. It is a sophisticated plan , a great plan, a fantastic experiment, a beautiful bait to assess, perfect and control digital currency systems.
DIGITAL CURRENCY WILL BE THE FUTURE AND THE FUTURE IS BEING CARVED.
SUPPOSE A SMALL OR LARGE COUNTRY ADOPTS ETHEREUM. THEN ALMOST ANY OTHER COUNTRY CAN FLASH CRASH IT ANYTIME. YOU JUST NEED ENOUGH MONEY.
GO AHEAD AND ADOPT BITCOIN CHINA. WE WILL JUST GET THE HAVKERS TO STEAL MASSIVE AMOUNTS.
The adoption of this is not possible yet at a government level YET, no government has or will outlaw it. The experiment must go on and perfected. How to establish control and how to,protect from theft and how to stabilize and the distribution issues and how it is weighted amongst various currencies are complex issues. Large blocks of the world must be controlled by singular forces such as European Union or NATO or other alliances that may be forced through chaos.
Most cryptos will eventually die. Some may be allowed to retain some value. But the SDR with or without Gold being part of it , will eventually be represented by a Digital currency and cash will be Obsolete. Control is the main motive.
IF ANYONE THINKS THAT IN A WORLD WHERE DECADES LONG PLANNING HAS TAKEN PLACE COUNTLESS BRILLIANT PEOPLE HAVE DEDICATED THEIR LIVES TO THE CAUSE, ONE MANS ALGORITHM DEVELOPED IN A BASEMENT DESTROYS IT ALL. ( I am laughing really hard here).
I like cryptos. I am fine with being part of the experiment. But that's all there is to it.
Currency will be digital and universal but IT MAY NOT BE BITCOIN.
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Will the economy crash in 18 months or less with the elimination of cash?
I wish I knew. I have been wrong now for more than a year thinking the stock market will crash and it has not. It is a new world with cryptos and all. The forces of central banking are too too powerful to allow digitals the crash the system. I am still thinking that stocks will crash but not because of digital currencies.