The Bitcoin psyop

Daily Pickings posted some background information on the Bitcoin phenomenon recently. James Corbett's latest video explains the wider issues of the blockchain, encryption, permissioned and permissionless, distributed ledgers which are essential to understanding what appear to be contradictory statements from bankers and pundits.

The Bitcoin Psyop
Yes, the blockchain is truly revolutionary. Yes, bitcoin is Tulipmania 2.0. Yes, cryptocurrency is a nail in the coffin of the bankster parasites. Yes, digital currency is a tool of the totalitarian tyrants. No, these statements are not contradictory. But don’t worry if you think they are. You’re just a victim of “The Bitcoin Psyop.”

Encrypted, permissionless, distributed ledgers, built on blockchain technology, have the potential to transform the world by decentralising all those activities currently mediated and authorised by centralised power. When allied to a paradigm shift in human consciousness, these tools can facilitate a world with "no rulers".

Stable, thriving, mutually supportive anarchy is a global possibility. We just need to co-create a shared understanding of where we are and where we could be.


0 #4 James Walter 2018-01-22 15:58
One more thing for right now. The average guy or gal will not understand blockchain, bitcoins, or whatever. The big corporations will not be allowed to accept or use them as the only form of payment. And finally, the same banksters will have the governments shut it down through laws like they did gold in the last century.
0 #3 James Walter 2018-01-22 15:38
First, I would love to get rid of the bansters. But that is easy, make governments take back control the central banks. Governing the central currency should be based on a basket of, if not all, commodities as well as increases in both consumers and products which should increase the total amount of currency. When those last two fall, the currency should be judicially reduced so there is not too much inflation.

The recent tulipmanina in the prices of bitcoin make it a stock or commodity, not a currency. A currency must be both stable and expandable, which gold is not. If I say I will pay 100 bitcoins or whatever for something someone is producing, expecting it in 3 days, bitcoins on delivery, and the price I have to pay doubles in 3 days, I will not be able to pay. On the other side, if the bitcoin price I agreed to accept drops to half in 3 days, I lose money on a transaction that should have been secure. We have seen this happen.

In all fairness, The Corbett article is very long and I will need to read and digest it for a better answer.

Sorry for my glib answer
0 #2 Clive Menzies 2018-01-22 14:11
Quoting James Walter:
I'll trade you some bitcoins for your tulips

Hi Jimmy, if this is banter, it's funny.

However, just to be clear, watch the video. It's less about bitcoin, than the technology behind it: the blockchain, encryption and permissionless ledgers which are potentially paradigm changing.

The big negative is the amount of energy required to "mine" bitcoins/crypto currencies. It is probably unsustainable unless we can tap into the power sources used by the "ancients" and explored by Tesla, Leedskalnin and others.

Digital currency can be part of the mix but by no means the primary money of the world. We need different currencies for different uses/reasons.

But most of all, we need to decentralise control of money and blockchain technology may by useful in this regard.
0 #1 James Walter 2018-01-22 11:04
I'll trade you some bitcoins for your tulips

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