The U.S. Government Tried To Shut Down Bitcoin

Bitcoin could become a promising solution for Venezuela's hyperinflation because the “government can’t control its value". Any Bitcoin mines are now an underground operation as the government tries to maintain financial control by outlawing the activity. What an age we live in.

Bitcoin could become a promising solution for Venezuela's hyperinflation because the “government can’t control its value submitted by dantesshoes to Bitcoin [link] [comments]

Can Bitcoin's Bubble Burst if Government's Outlaw it?

It seems that bitcoin and crypto-currencies make it easier for people to commit or get away with fraud and other crimes. I know it's de-centralized so no government could ever really stop it 100%, but they could still make it illegal.
The government could forbid companies from accepting it, and heavily fine those that don't comply.
They could make it a crime and have people punished for owning and/or mining bitcoins. Catching bitcoin users could be extremely difficult, but I think it is possible to prove somebody owns a bitcoin.
The government could mandate that internet service providers stop all web traffic related to bitcoin transactions.
So is it possible that government regulation could still make the value of Bitcoin collapse?
Update: perhaps a better question is, how likely is it that governments will want to outlaw crypto-currencies?
submitted by msknapp84 to Bitcoin [link] [comments]

Chilling article in the G8 trade magazine calls governments to outlaw "alternative payment mechanisms, such as Bitcoin and a host of others", because they "can enable criminal and terrorist groups to launder money and fund their operations." (page 60)

submitted by jungle to Bitcoin [link] [comments]

Can Bitcoin's Bubble Burst if Government's Outlaw it? /r/Bitcoin

Can Bitcoin's Bubble Burst if Government's Outlaw it? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

The G8 magazine calls for governments to unite in outlawing Bitcoin because it can be used by the terrorists(p. 60). But on page 8 they allowed a full page advertisement for Mt.Gox, the largest BTC exchange. I'm slightly confused.

submitted by teefour to Libertarian [link] [comments]

dumb question... but why Cryptocurrency exist?

I'm afraid to ask this stupid question, and maybe the mods will ban me... but I'm trying to understand why cryptocurrency exist? Why does it have any value? Why people choose to buy it?
Sorry if my question too stupid... I just don't get it.
For example if you going to say "why people buy gold?"... well gold has some practical use... people appreciate its beauty and like jewlery made out of gold, also it is being used in industry as an important component in all kind of stuff.... but what is cryptocurrency is good for?
You may say "why do people value the national currency?"... the answer will be because it's backed by the government and is widely accepted....

***Edit: it looks like from the answers, the main benefit of Bitcoin is that it allows anonymity and it's unregulated by the gov... ok so let me ask this, what prevent the government from regulating the Bitcoin, just like it regulates anything else (and get rid of anonymity of owners and transactions)?
***Edit2: some people will claim that the Bitcoin code will prevent the government from regulating it... well the government can effectively restrict its usage... how? Well in order to trust Bitcoin you have to know that in case of a problem, you can go to court and solve it... but if the government will make the Bitcoin illegal, then nobody will use it for trade... then the Bitcoin will become obsolete.
I mean you can buy a car and pay the seller in bitcoin... what prevents him from simply take the bitcoin and not give you the car? You can't prove that you actually paid for it... see the problem? (this example with the car is in a scenario where the government had outlaw the bitcoin, so you can't go to court in case of a dispute when doing business with BT).

***edit3: ADDITIONAL QUESTION
So for my understanding in order for the bitcoin to work, you have to have those miners that will contribute the computation power of their computers in order to facilitate BT transactions... right?
And the miners are getting paid with BT... right? And the BT that the miners receive is "new" BT... right? Meaning new BT is created in order to pay the miners... but if it is assured that the BT is limited to 21 million units, that means that at some point the system will run out of BT to pay the miners... what will happen then? (feel free to correct me if I'm wrong).
submitted by jameSmith567 to BitcoinBeginners [link] [comments]

Cryptocurrency Adoption: A Breakthrough?

Cryptocurrency Adoption: A Breakthrough?
You have probably read dozens of articles dedicated to this subject before, and likely skipped even more. So why write another one, let alone read it? The short answer is times have changed. Well, times always change. Still, the point is that we may be amidst a paradigm shift in the cryptocurrency space right now even if we don’t feel it yet.
by stealthEX
Such a fundamental change is possible due to a confluence of several factors. Some of these factors are external and therefore not related to crypto. Others are internal and represent the value-oriented nature of cryptocurrencies. It just happened that all of them got activated under specific conditions at a certain point in time, which is today, give or take.

Economic woes in a post-Covid-19 World

You wouldn’t be far from the truth if you claimed that we haven’t yet pulled through the pandemic, to begin with. Unfortunately, it only makes matters worse unless you are a cryptocurrency investor and don’t care for the rest of humanity. Anyway, the damage has been done, and nothing can change that. We are now entering the phase that is technically called “competitive devaluations” and colloquially known as currency wars.
You could also argue that if it didn’t happen at the peak of the coronavirus pandemic, it is not going to happen now. The sad truth is that we are only starting to feel the real pain. Even the deadly coronavirus doesn’t take over the body instantly, while it takes some time on the scale of a few months up to a couple years for the economic disease to spread through the fabric of society, evolve, and then erupt with inflation rates shooting through the roof, among many other nasty things. Please take your seat.
The world reserve fiat, the American dollar, is sinking like Titanic, slowly but surely. We can’t say the same about less lucky currencies, though. We won’t dwell on the Venezuelan bolivar and Zimbabwean dollar as they are altogether beyond redemption, but fiats like the Brazilian real and Russian ruble are also balancing on the brink of another landslide devaluation, which they have seen many in the past. Sharp minds in the cryptocurrency space have been telling us about this development for ages. It all looked like a remote possibility in some distant future that as we felt deep down wouldn’t have a chance to come up in our lifetime.
As it stands, we were wrong, and the events described are now starting to unfold right before our own eyes. In a strange twist of fate, large-scale cryptocurrency adoption is about to occur along with them, but not through some technical breakthroughs and innovation, or even the much-hyped DeFi, but primarily through the failure of conventional financial systems based on fiat currencies. Rest assured, the top dogs in the cryptocurrency pit are well aware of this dynamic, and they are not going to wait any longer.
Grayscale Investments, a multi-billion dollar company behind a host of cryptocurrency trust funds, started to frenziedly buy up bitcoins a couple weeks ago. All in all, it acquired over 17,000 BTC adding to its already quite impressive stash of Bitcoin, now totalling almost 450,000 coins under its management. Love it or leave it, but it amounts to 2.4% of all bitcoins mined to date, including lost, burned, or left for dead as dust in Bitcoin wallets. In essence, it means that their effective share is way higher.
But while Grayscale definitely sits at the top of the cryptocurrency investment chain, it is not the only company that went on a buying spree lately. MicroStrategy, a company largely unknown to the wider public, suddenly got religion and swapped over $400 million of its capital into 38,250 BTC. Even Barry Silbert, CEO of Grayscale, commented on this feat in his tweet.
Twitter, by StealthEX
So whenever there is a hint at price correction, someone comes out of the shadows and picks up a handful of bitcoins from the market propping up the price.
Why are they doing this? You already know the answer.

Paradigm shift

In different words, all that cryptocurrencies had to do was to last long enough until fiat started to fall apart. It does now, and paradoxically such times are also times of great opportunity, Baron Rothschild’s way. The world’s largest cryptocurrency exchange, Binance, has been pushing its cryptocurrency payment card since April when it acquired Swipe, a firm focused on crypto-to-fiat payment cards. At the time of the acquisition Swipe already supported 20 cryptocurrencies and fiat transactions in major currencies.
Binance.com, by StaelthEX
For European users the Binance card was officially made available in August, and the exchange plans to enter the US market soon. Given its dominance in the crypto arena, it wouldn’t be unreasonable to expect the surge in the cryptocurrency use as a means of payment thanks to this. It is unlikely that people would spend their precious bitcoins, but the packmaster is not the only member of the pack that Binance handles. Cryptos like Litecoin or Bitcoin Cash can easily become currencies of choice to use with Binance debit cards.
But what truly makes it a game-changer is the current turmoil in the global economic affairs which may turn out to be a once-in-a-lifetime chance for crypto to pick up where fiat currencies leave, or fail, to be exact. On the other hand, it may be a natural development after all, set in stone by the very first Bitcoin transaction and cemented for good when it got confirmed. Now things start to arrange themselves to fit their preordained layout. We have taken our time.
As cryptocurrencies are not internally linked to, or tied by, the lunatic policies of monetary authorities, that is to say, no central bank can ask or force miners to mine more bitcoins, we have the first element in place in the layout for the cryptocurrency mass adoption to occur at the most basic level. In fact, it has always been there, so we just had to wait until the two other elements arrived, even though it took longer than most of us were ready to wait.
The second required element in the grand picture of cryptocurrency adoption is the change in attitude toward wealth evaluation. So far the vast majority of people involved in crypto, including its most die-hard supporters, valued their cryptocurrency holdings in fiat terms. Without doubt, it was the US dollar, regardless of your home currency. But when fiat collapses or enters a long period of runaway inflation, people will be ready for a dramatic change in their approaches toward capital assessment as well as spending habits.
And here comes the most important part where Binance hits the nail on the head. If you are unable to effortlessly spend crypto in your everyday life, the first two components cannot trigger this change in attitude on their own. We need this third element to make use of what has existed and take advantage of what has come around. In a way, what Binance did, and what its competitors are no doubt going to do as well if they don’t want to miss out on the opportunity, appears to be the part that snugly snaps into place when we finally get there.
With Binance payment card, you can “buy the things you love with crypto”. So now the ball is in your court to support the full-scale cryptocurrency adoption coming up. Kidding aside, with fiat turning into trash by leaps and bounds all over the globe, this looks like a very enticing payment option for both the crypto purists and the unbanked. We have seen quite a few such cards in the past, but Binance seems to be adamant on making its variety really popular and actually usable. And then you can ride volatility waves to your financial benefit.
If Binance succeeds, that may herald a new era of cryptocurrency adoption, a breakthrough of sorts after so many years of stagnation in this department.

Repercussions and ramifications

It is not like only we, traders and investors alike, see these trends. Governments are also taking notice and paying close attention. They can’t remove cryptocurrencies and they can’t help inflating their national currencies. However, they can still crack down massively on this and similar endeavors, trying to nip them in the bud. We don’t know yet what Uncle Sam is going to say but some muslim countries have been quite vocal in this regard.
For example, Egypt has issued a fetva which prohibits bitcoin transactions as being against Sharia, an Islamic religious law. Another mostly Islamic country, Indonesia, has banned the use of cryptocurrencies as a means of payment. Russia, although not Islamic yet, is hellbent on effectively outlawing most cryptocurrency operations despite passing earlier a law on digital assets which is essentially neutral to crypto.
To conclude, we must be aware that once things get serious and governments see that their monetary supremacy is being threatened, that they can no longer play their favorite game of inflation tax, they will leave no stone unturned to prevent mass use of crypto as an alternative means of payment. And cryptocurrency payment cards are hands down one of the best tools available for this use on a down-to-earth level, groceries and whatnot.
Now you know what their target will be.
And don’t forget if you need to exchange your coins StealthEX is here for you. We provide a selection of more than 300 coins and constantly updating the cryptocurrency list so that our customers will find a suitable option. Our service does not require registration and allows you to remain anonymous. Why don’t you check it out? Just go to StealthEX and follow these easy steps:
✔ Choose the pair and the amount for your exchange. For example BTC to ETH.
✔ Press the “Start exchange” button.
✔ Provide the recipient address to which the coins will be transferred.
✔ Move your cryptocurrency for the exchange.
✔ Receive your coins.
Follow us on Medium, Twitter, Facebook, and Reddit to get StealthEX.io updates and the latest news about the crypto world. For all requests message us via [email protected].
The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision.
Original article was posted on https://stealthex.io/blog/2020/10/06/cryptocurrency-adoption-a-breakthrough/
submitted by Stealthex_io to StealthEX [link] [comments]

Breaking News: Russia Outlaws Binance

Breaking News: Russia Outlaws Binance
Russian telecom regulator, Roskomnadzor, has notified the world’s largest cryptocurrency exchange Binance that it blacklisted the exchange for “spreading information related to the acquisition of digital currencies”. Basically, it means that Russian users won’t be able to access the exchange without the use of special tools like VPNs, anonymizers, or proxy servers after the local telecom operators start to enforce the ban.
by StealthEX
So far the exchange site is still accessible without taking any additional steps. Binance promises that there will be no disruption to their services for Russian users, and that they are going to challenge this decision in the court of law. Now the exchange is looking for legal counsel before taking further action. Anyway, it seems to remain unflinching in its plan to launch a cryptocurrency payment card for Russian users later this year.
The good news is that many top dogs in the cryptocurrency exchange services arena, for example, LocalBitcoins, have been banned for years, and it didn’t stop crafty Russians from using the services. You wouldn’t really expect highly sophisticated crypto traders to be warded off with these mostly useless measures. Roskomnadzor had become famous for banning Telegram in 2018, and then even more famous for having to admit losing this battle, even though it took two long years and a virus pandemic to recognize the failure.
And the utmost irony in all of this is that the Binance ban is in stark contrast with the recent proposal of Russia’s Ministry of Finance. It came up with a bill on making individuals report their crypto operations for taxes, which kinda assumes legality of these operations. The authority also proposes that cryptocurrency exchanges should quarterly report transactions of Russian users. But seriously, how do they see approaching Binance if it is not supposed to be available from Russia?
If you are going to make sense of it all, you will have a hard time. Any sane person trying to find reason behind the steps taken toward cryptocurrency regulation by the Russian government and its public services would likely end up with cognitive collapse. But it may be a mistake to assume there is a reason in the first place as these moves can be adequately explained by lack of genuine understanding what cryptocurrencies essentially are. You simply can’t fight crypto with bans and prohibitions.
Follow us on Medium, Twitter, Facebook, and Reddit to get StealthEX.io updates and the latest news about the crypto world. For all requests message us via [email protected]
The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision.
Original article was posted on https://stealthex.io/blog/2020/09/25/breaking-news-russia-outlaws-binance/
submitted by Stealthex_io to StealthEX [link] [comments]

Bitcoin’s Mainstream Adoption

Bitcoin’s Mainstream Adoption
How financial system has changed its rigid views in favor of cryptocurrencies.
by StealthEX
It goes without saying that the real value of anything can be judged only through practical, everyday use of it. With Bitcoin, as with cryptocurrencies in general, it is no different. Although the concept of a decentralized digital ledger as it is represented by the leading cryptocurrency may seem enticing and masterly on its own, ultimately, it still comes down to the actual application and usability in real life. And this is where BTC adoption within the existing financial system comes into play as one metric to gauge its genuine success or utmost failure, arguably the most telling and important one.

A medium of exchange

Bitcoin was envisioned as a peer-to-peer electronic cash system, synonymous with the idea of using it as a medium of exchange or means of payment (the latter two being essentially six of one and half a dozen of the other). As everything big out there, Bitcoin started small. What went completely unnoticed in 2008 now came to be a major factor capable of affecting the entire global financial system.
But before that, Bitcoin was used as a means of exchange and payment in the markets which shouldn’t have been there in the first place. These were the days when the Dark Web was the primary and likely only driver behind Bitcoin adoption rate, and that’s also happened to be the reason why so many governments turned heavily against it back in the day. Bitcoin had received a bad rap as a currency for conducting illegal operations, mostly selling drugs on black markets like now-defunct Silk Road.
It was not until late 2012 that Bitcoin started to attract attention of the general public after the launch of Coinbase in the summer of that year. Around that time the first attempts to regulate the top cryptocurrency had begun, and the overall negative attitude toward BTC started to change. All in all, the period between 2008 and 2012 was likely the only time in Bitcoin’s eventful and intense history when most of its adoption came about through using it as a real currency and a means of payment, even if primarily for illegal purposes and criminal activities.

A store of value and investment asset

Bitcoin today as we know it has only become possible after many thousands of speculators and investors started to pour their money into the cryptocurrency in the hope of earning off the future growth. No matter how you look at it, whether you like it or not since 2013 Bitcoin adoption has been expanding mostly by attracting people who are interested in it as an alternative, non-sovereign store of value and investment asset. Today Bitcoin as an investment asset and store of value totally took over the Bitcoin as a means of payment and exchange.
The godfather of all cryptocurrencies has seen plenty of ups and downs, which posed a valid concern regarding how it would perform as a grown-up investment asset. Now that we have seen oil prices go into negative territory and fall as low as -37 dollars per barrel, a lot of these doubts have been dispelled. It is little wonder that institutional investors are nowadays looking into Bitcoin as a robust hedge against inflation and sinking economies in a world fraught with recession risks and plagued by the coronavirus pandemic. For example, in 2019 alone cryptocurrency assets under the management of hedge funds more than doubled – to over 2 billion dollars, with around 150 hedge funds actively investing in cryptocurrencies today.
It is no surprise either that during the last couple of years Bitcoin has risen substantially in the eyes of the institutional beholders, all the way up from the bottom, from an outcast, and sometimes even an outright outlaw, to a level on par with such an established store of value as gold. The famous hedge fund manager and billionaire Paul Tudor Jones, who manages around 22 billion dollars through his BVI Global Fund, recently confirmed that he has invested a few percent of his assets in Bitcoin as a hedge against inflation and central banks printing money out of thin air. Altogether, this leaves no doubt that Bitcoin has become a viable and legit investment choice in the realm of institutional money.

A value transfer vehicle

International money transfers have always been a pain in the neck – slow, costly, complicated. As Bitcoin needs no banking institutions to conduct money transfers, be it domestic or global, it has become a value transfer vehicle of choice for people willing to send money with no involvement of banks and payments processors. Historically, making overseas remittances with Bitcoin was among the first use cases of this cryptocurrency.
Cross-border remittances have been recognized as an important source of private capital flows for developing countries. Bitcoin and its crypto brethren have firmly established themselves in this niche for the simple reason many people in poor countries don’t have a bank account and thus can’t access bank services, aside from overall poor banking infrastructure there along with reasonable concerns about the stability of national currencies in backward economies.
Without cryptocurrencies, it would be impossible to receive financial support from abroad provided by migrant workers to their families. This led to an emergence of a wide variety of bitcoin-based remittance services such as BitPesa, Rebit, Bloom, Payphil, to name but just a few, that offer such services for African and Asian countries. They are typically using Bitcoin as a value transfer medium concealing the cryptocurrency from users by converting the sender’s fiat currency into bitcoins and then converting back to the receiver’s fiat currency.

Problems and solutions

One of the major problems Bitcoin faces is not strictly specific to it as it stems from an innate conflict between the two major functions of money. As it happens, a medium of exchange function doesn’t live quite well with a store of value function. A good medium of exchange, or means of payment, should be inflationary to facilitate its use as a currency that you pay with, say, in a grocery store. On the other hand, a good store of value should be the opposite of that to maintain and possibly increase its value over time. Realistically, such a dilemma cannot be effectively resolved from within Bitcoin itself.
As a result, the main cryptocurrency has developed into a trusted, battle-tested investment asset which already established a firm foothold in the corporate investment sector. This is in stark contrast to its promise as a functional currency where Bitcoin still massively lags behind fiat. Is there any way to fix that? The solution probably lies in the separation of different functions between Bitcoin and altcoins. The former will most certainly continue to evolve as a solid store of value. Whether the latter can live up to their collective role of an efficient means of payment, we have yet to find out.
And remember if you need to exchange your coins StealthEX is here for you. We provide a selection of more than 250 coins and constantly updating the list so that our customers will find a suitable option. Just go to StealthEX and follow these easy steps:
✔ Choose the pair and the amount for your exchange. For example ETH to BTC.
✔ Press the “Start exchange” button.
✔ Provide the recipient address to which the coins will be transferred.
✔ Move your cryptocurrency for the exchange.
✔ Receive your coins.
Follow us on Medium, Twitter, Facebook, and Reddit to get StealthEX.io updates and the latest news about the crypto world. For all requests message us via [email protected].
Original article was posted on https://stealthex.io/blog/2020/07/07/bitcoins-mainstream-adoption/
submitted by Stealthex_io to StealthEX [link] [comments]

Where can I post this to get the discussion about it that I’m aiming for? I’ve already been permanently banned from threads and this is only my 5th post ever. I just want thoughtful discussion on important topics.

Save yourself some time and don’t read this. You’ll never get it, unless you do. In which case I hope you enjoy and think about what I’ve said. You may not agree with it all but you can’t deny it all either. The problem is that I’m right. So am I saying I think the vast majority of the world is wrong and I am right? Yes. It’s not easy to be right when most everyone else is wrong. You’re constantly misunderstood or dismissed. No I haven’t lost it. I’m totally sane. Maybe the most sane I’ve ever been. That probably sounds crazy and maybe it is but if this is crazy I don’t ever want to be sane again.
It’s all of it. It’s not just black or white it’s gray. It’s a mix of the major competing ideas and a cherry picking of the best of those ideas. It’s the new ideas that keep up with our time. There-in lies the solution to our problems. Compromise and use the best parts of the major competing ideas not just one or the other. Think about healthcare. We need both a public and private option. We can’t have just one. We need both. A public option for the poor or disenfranchised and a private option for the wealthy and those who can afford to get private insurance. Wet markets and factory farming will be the death of us if we don’t outlaw that shit worldwide as soon as possible. Yes this means less meat in our diets. Look at the data. This is actually good for us. Take climate change. We can’t just stop using fossil fuels tomorrow. We need to phase them out while figuring out how much we can burn without negatively effecting our environment and then allowing the poorest countries to continue using fossil fuels in the interim while they grow their economies to prearranged milestones where they must phase in renewables. Take capitalism. Our society’s trade platform. It must be a mix of capitalism with restraints and restrictions strategically implemented to thwart the worst parts of greed, corruption and pollution. Along with a public option for healthcare and education. It’s socialism and capitalism meshed together. Republican or Democrat? We need a third option. The ruling party. The party that uses the best parts of both ideas and dumps the junk bunk bullshit that drags us down. The tie breaking vote cast in favor of either side, whenever it is they happen to have the better idea. This ruling class is called the Digerati. Not my term. They need to be the deciding voice of reason because they see the world for what it is. They are already silently leading the world. They are the Facebooks the Googles the Microsofts the Ubers the Teslas. I could go on. The Expedias the Amazons, you get the point. They have seen that digital technology trumps old analog technology in almost every industry. They have come in and dominated the old with the new. Taking voting for instance. We need to offer all viable options to increase voter turnout and opportunity. That means in-person, mail-in, Internet, and smartphone via blockchain. Putin will rule us all if we don’t band together against him. Hopefully I’m wrong there and his overreach will be the death of him, but that’s for time to tell. It’s not just religion or atheism and nothing in between. It’s spirituality. No not the traditional Christian soul “spirit” bullshit. Nothing supernatural in the standard sense. It’s the interconnectedness of everything down to a basic atomic level that binds all things. The problem also lies in our broken criminal justice system and the for-profit prisons that lobby to keep it that way. It’s the NRA and the gun lobby stopping us from having common sense gun law and closing the purchase and tracking loopholes. It’s the corrupt gang of thugs called the police who kill innocent people on the regular with seemingly no ramifications. It’s the irrational and crooked stock market putting this false face on the economy but we don’t have any other simple numbers to base the complexity of the economy on so we deal with it. We let these Wall Street crooks live in their ivory towers laughing at us. Selling us bits of 1’s and 0’s in the cloud somewhere that we never actually own. If we did they’d give us all our proportion of the profits equivalent to the shares we own. It happens but rarely. It’s just as bullshit as the concept of paper money backed by the Fed and nothing else. Even gold, what’s that worth anyway? Seems to me something is only worth its weight in what it can do or provide. Gold has its uses and therefore has value but it’s still an inflated illusion. Not that bitcoin isn’t based on a similar illusion but it’s far superior to paper money. More important than just bitcoin is the blockchain technology itself. This is going to change the way we do everything. All the big companies and leaders already know what’s coming. It’s going to change banking, voting, critical infrastructure security, contract law, stock trading, real estate, healthcare, supply chain management, music and entertainment property rights and IP etc etc etc. I could list 40-50 major industries that will be impacted in a huge way by blockchain. All technology is growing faster and faster. Exponentially so. So fast we can’t comprehend it. The growth of AI and the invention of bitcoin are changing the world so fast you can’t even see it. My point is it’s all going to change very fast. This country is not long for this world if we don’t make some massive changes, and I mean quickly. No more assholes like Trump ever can be elected to such high offices. Never let the stupid overtake the enlightened again because of technicalities. All these crooked politicians need to go to jail. For life. To set the example for all time. This bullshit will not be tolerated. The Constitution has failed us. Just look at the dysfunction in the Congress and Senate and now the White House. We’ve had some clowns in office before but nothing this extreme. China is going to overtake the USA in digital and cryptocurrency as they are embracing the technology far more. Bitcoin is coming for your wallets so you better get onboard or get left behind. New digital millionaires and billionaires are being minted daily. The world is becoming increasingly more dangerous every day. The poor and the left-out are growing in numbers and it’s only going to get worse. Those who can see, I mean truly SEE what’s going on, will rule the world. Those who don’t see it will be pushed further and further down out of the middle class and into poverty. This is going to create great disparities of wealth beyond anything the world has seen in quite some time. Think India’s caste system on steroids. So what can we do? We can embrace the future. We get as much bitcoin as we can get our hands on as soon as possible before only the elite have access to one whole bitcoin. Don’t pick up the scraps. Make your own way now. Don’t let the asshats rule the world. The Trumps the Putins the Bolsonaros and the Boris Johnsons of the world can’t be left in power. They are destroying everything we know and love. There are major political changes happening right now that will negatively impact all of our lives. They are the fault of McConnell, Trump, all the judges he’s appointed, and the entire Republican establishment. The Democrats are only marginally better. We need to throw out our failed institutions and start over with lessons learned. We need to actually make a real separation of Church and State. No more muddy water. No more bullshit child rape organizations like the Catholic Church allowed to claim tax free status and then take PPP Loans from our tax dollars. If they are a business that can receive PPP then they can be taxed like one. And why isn’t the Pope in jail. If I was the lead architect for covering up thousands of child rapes you can bet your ass there would be an international warrant for my arrest but instead he’s treated like a top celebrity and revered by some as next to “God”. There is a better way. Now is the time to move forward with plans to right the ship. Arguably there has never been a better more apropos time than now. This pandemic has pushed our country to the brink of failure. We also probably need to think about a backup plan. A plan to create a new country with those who understand what’s really happening. I’m not sure what exactly that looks like. Maybe we secede California or Texas from the union. Maybe we let Bezos buy an African country and pay all of its citizens handsomely to leave. Then from there we start a new world order. Yes, I said new world order. The term we’ve all been taught to fear our whole lives. What does the status quo have to be so scared of that it’s brainwashed us all to be scared at the mention of a new world order. That idea is obviously huge and has its own complications. I’m not talking about microchipping everyone either. I’m talking about real freedom. We’ve given up our liberty in pursuit of safety. We given up honest governance in place of partisan wins. I don’t pretend to know the ultimate answer to all things. Just the formula. There are multiple possibilities. I don’t think there is only one way to skin this cat. We can get to the same outcome via many routes as long as the mission is clear. Do what makes the most logical sense and will actually work verses what is politically expedient. Be the solution.
submitted by imenotu8 to deepdiscussions [link] [comments]

Where can I post this to get exposure and feedback? I’ve been banned from big threads already and this is my 4th post on Reddit ever. I just want to start the discussion.

Save yourself some time and don’t read this. You’ll never get it, unless you do. In which case I hope you enjoy and think about what I’ve said. You may not agree with it all but you can’t deny it all either. The problem is that I’m right. So am I saying I think the vast majority of the world is wrong and I am right? Yes. It’s not easy to be right when most everyone else is wrong. You’re constantly misunderstood or dismissed. No I haven’t lost it. I’m totally sane. Maybe the most sane I’ve ever been. That probably sounds crazy and maybe it is but if this is crazy I don’t ever want to be sane again.
It’s all of it. It’s not just black or white it’s gray. It’s a mix of the major competing ideas and a cherry picking of the best of those ideas. It’s the new ideas that keep up with our time. There-in lies the solution to our problems. Compromise and use the best parts of the major competing ideas not just one or the other. Think about healthcare. We need both a public and private option. We can’t have just one. We need both. A public option for the poor or disenfranchised and a private option for the wealthy and those who can afford to get private insurance. Wet markets and factory farming will be the death of us if we don’t outlaw that shit worldwide as soon as possible. Yes this means less meat in our diets. Look at the data. This is actually good for us. Take climate change. We can’t just stop using fossil fuels tomorrow. We need to phase them out while figuring out how much we can burn without negatively effecting our environment and then allowing the poorest countries to continue using fossil fuels in the interim while they grow their economies to prearranged milestones where they must phase in renewables. Take capitalism. Our society’s trade platform. It must be a mix of capitalism with restraints and restrictions strategically implemented to thwart the worst parts of greed, corruption and pollution. Along with a public option for healthcare and education. It’s socialism and capitalism meshed together. Republican or Democrat? We need a third option. The ruling party. The party that uses the best parts of both ideas and dumps the junk bunk bullshit that drags us down. The tie breaking vote cast in favor of either side, whenever it is they happen to have the better idea. This ruling class is called the Digerati. Not my term. They need to be the deciding voice of reason because they see the world for what it is. They are already silently leading the world. They are the Facebooks the Googles the Microsofts the Ubers the Teslas. I could go on. The Expedias the Amazons, you get the point. They have seen that digital technology trumps old analog technology in almost every industry. They have come in and dominated the old with the new. Taking voting for instance. We need to offer all viable options to increase voter turnout and opportunity. That means in-person, mail-in, Internet, and smartphone via blockchain. Putin will rule us all if we don’t band together against him. Hopefully I’m wrong there and his overreach will be the death of him, but that’s for time to tell. It’s not just religion or atheism and nothing in between. It’s spirituality. No not the traditional Christian soul “spirit” bullshit. Nothing supernatural in the standard sense. It’s the interconnectedness of everything down to a basic atomic level that binds all things. The problem also lies in our broken criminal justice system and the for-profit prisons that lobby to keep it that way. It’s the NRA and the gun lobby stopping us from having common sense gun law and closing the purchase and tracking loopholes. It’s the corrupt gang of thugs called the police who kill innocent people on the regular with seemingly no ramifications. It’s the irrational and crooked stock market putting this false face on the economy but we don’t have any other simple numbers to base the complexity of the economy on so we deal with it. We let these Wall Street crooks live in their ivory towers laughing at us. Selling us bits of 1’s and 0’s in the cloud somewhere that we never actually own. If we did they’d give us all our proportion of the profits equivalent to the shares we own. It happens but rarely. It’s just as bullshit as the concept of paper money backed by the Fed and nothing else. Even gold, what’s that worth anyway? Seems to me something is only worth its weight in what it can do or provide. Gold has its uses and therefore has value but it’s still an inflated illusion. Not that bitcoin isn’t based on a similar illusion but it’s far superior to paper money. More important than just bitcoin is the blockchain technology itself. This is going to change the way we do everything. All the big companies and leaders already know what’s coming. It’s going to change banking, voting, critical infrastructure security, contract law, stock trading, real estate, healthcare, supply chain management, music and entertainment property rights and IP etc etc etc. I could list 40-50 major industries that will be impacted in a huge way by blockchain. All technology is growing faster and faster. Exponentially so. So fast we can’t comprehend it. The growth of AI and the invention of bitcoin are changing the world so fast you can’t even see it. My point is it’s all going to change very fast. This country is not long for this world if we don’t make some massive changes, and I mean quickly. No more assholes like Trump ever can be elected to such high offices. Never let the stupid overtake the enlightened again because of technicalities. All these crooked politicians need to go to jail. For life. To set the example for all time. This bullshit will not be tolerated. The Constitution has failed us. Just look at the dysfunction in the Congress and Senate and now the White House. We’ve had some clowns in office before but nothing this extreme. China is going to overtake the USA in digital and cryptocurrency as they are embracing the technology far more. Bitcoin is coming for your wallets so you better get onboard or get left behind. New digital millionaires and billionaires are being minted daily. The world is becoming increasingly more dangerous every day. The poor and the left-out are growing in numbers and it’s only going to get worse. Those who can see, I mean truly SEE what’s going on, will rule the world. Those who don’t see it will be pushed further and further down out of the middle class and into poverty. This is going to create great disparities of wealth beyond anything the world has seen in quite some time. Think India’s caste system on steroids. So what can we do? We can embrace the future. We get as much bitcoin as we can get our hands on as soon as possible before only the elite have access to one whole bitcoin. Don’t pick up the scraps. Make your own way now. Don’t let the asshats rule the world. The Trumps the Putins the Bolsonaros and the Boris Johnsons of the world can’t be left in power. They are destroying everything we know and love. There are major political changes happening right now that will negatively impact all of our lives. They are the fault of McConnell, Trump, all the judges he’s appointed, and the entire Republican establishment. The Democrats are only marginally better. We need to throw out our failed institutions and start over with lessons learned. We need to actually make a real separation of Church and State. No more muddy water. No more bullshit child rape organizations like the Catholic Church allowed to claim tax free status and then take PPP Loans from our tax dollars. If they are a business that can receive PPP then they can be taxed like one. And why isn’t the Pope in jail. If I was the lead architect for covering up thousands of child rapes you can bet your ass there would be an international warrant for my arrest but instead he’s treated like a top celebrity and revered by some as next to “God”. There is a better way. Now is the time to move forward with plans to right the ship. Arguably there has never been a better more apropos time than now. This pandemic has pushed our country to the brink of failure. We also probably need to think about a backup plan. A plan to create a new country with those who understand what’s really happening. I’m not sure what exactly that looks like. Maybe we secede California or Texas from the union. Maybe we let Bezos buy an African country and pay all of its citizens handsomely to leave. Then from there we start a new world order. Yes, I said new world order. The term we’ve all been taught to fear our whole lives. What does the status quo have to be so scared of that it’s brainwashed us all to be scared at the mention of a new world order. That idea is obviously huge and has its own complications. I’m not talking about microchipping everyone either. I’m talking about real freedom. We’ve given up our liberty in pursuit of safety. We given up honest governance in place of partisan wins. I don’t pretend to know the ultimate answer to all things. Just the formula. There are multiple possibilities. I don’t think there is only one way to skin this cat. We can get to the same outcome via many routes as long as the mission is clear. Do what makes the most logical sense and will actually work verses what is politically expedient. Be the solution.
submitted by imenotu8 to DeepConversation [link] [comments]

Why mass adoption happened for signal private messenger & not Monero (or bitcoin)

Signal has taken coordinating illicit drug transactions by storm. If you dont believe me, sync your contacts in signal and see what type of person is using it.
I recently did an "experiment" by wearing a personally made T shirt with the Signal logo on of to a crowded bar during our cities fair. Several people talked to me not about encryption but rather that is the same app they use to talk to their weed dealer. Some mentioned wickr, which I tried to educate on meta data and the importance of FOSS. I'm a bit of a buzzkill.
The adoption of signal shows that people are paranoid, cautious and want to be private: well at least those who are casual drug users.
So why did signal see so much adoption but Monero has seen none at all within the same scene which desires privacy?
Put simply: cash still works just fine, and is easier.
A drug buyer, perhaps a construction worker, gets paid in cash for their over time, they pay a drug dealer in cash, the dealer uses that money to buy food and some luxury items: never recording it on his taxes. His legitimate income is used to pay rent and utilities. Perhaps the drug dealer sends cash by mail to a supplier of a resource he consumes for his dealings. That supplier uses it to pay his workers under the table. Maybe these people use that money to buy some locally produced quail eggs, which the farmer pockets.
All is fine, there is no significant transaction delay, except for maybe a day or two if its sent via mail for an online purchase. It cant be traced easily, its accepted and used by far more people and the price is stable.
Where is the need for Monero? Especially a Monero that is under developed for escrow via easy to use multisig transactions? Certainly those would be useful for those online payments the dealer makes to purchase a resource.
Monero is a back up plan to cash: when we become a cashless society due to cash either being outright outlawed or deemed suspicious for nefarious activities, then Monero will see adoption. Wapecoally when it gets a proper multisig setup for online or otherwise low trust transactions.
Bitcoin has even less of a use case. Everything now is just speculation with a few demonized people on the darknet flirting with using it for dealing drugs.
Signal is useful now because everyone knows, on some, perhaps naive, level that the government could shift through unencrypted messages and construct evidence or reason to pull them over. There is no "cash" option to coordinate when not in person.
I think if your in Monero to get rich, or any cryptocurrency, you'll be disappointed until cash is outlawed in many countries. India seems to be the first headed in this direction. yes the price will rise and fall and you can make money that way, but no real adoption will occur until cash is outlawed and it's the next best thing.
If you are in Monero because you're a bit of a libertarian/anarchist who wants to support and build tools that make it too costly to profitably target valuable victims or exploit others.. then you are in luck. Monero or Monero like currency is the future and the second line of defense against traceable transactions, the first being cash.
And once (if) it takes hold, it is doubly nice as it is a great line of defense against inflationary currency, and the despots who control the inflationary currencies.
Bitcoin has zero chance of this path to adoption as it will never provide the privacy/fungible benefits cash or Monero does as it cannot be fungible: you'll always be suspicious if you obfuscate your transactions.
/slightly drunk, haven't posted in a while and just wanted to post some ideas I've been sitting on/observing for a while.
Everyone should use signal btw. It's not perfect, it's not decentralized but it has ushered in cyberpunk/cryptoanarchy in mass better then any technology thus far.
submitted by Vespco to Monero [link] [comments]

Want to know how why Venezuela has an interim president that is not Maduro?

--.-
All funds transfered will be used to buy medicines and food for people in need Venezuela. Please, donate. https://www.paypal.me/sorckas Bitcoin 1JdBWtt995mHH7uYbPjZJNDeh1KxvFMYgB Ethereum 0x5535EEeF023499419f965dc9336A6F339298dC24 Bitcoin Cash qp0r0akjaxfddqzlmskjlu0gq5ydweh0judwhpqn9n
Many people argue that Juan Guaidó is not the president of the republic, or that there's a coup d'etat in Venezuela. Other argue that the legitime president of Venezuela is Nicolas Maduro because he won elections, and therefore he should be president. There are so many people who want to know the true but they simply find biased information provided by government-funded agents such as TelesurTV that have clearly a bad reputation when it comes to report the venezuelan humanitarian crisis, the constitutional crisis, and every other aspect that you may find necessary to really understand what is going on Venezuela. To understand how we are here, we must learn about past events like designation of judges to the Supreme Court, derogation of the presidential referendum, dissolution of the parliament, a new designation of judges to the Supreme Court, and other things that I will try to put down in an effort to let people know what actually happened since 2013 to 2019.

First of all. How did Maduro came to presidency?

He was named vicepresident by Chavez, then Chavez died in 2013 which leaves Maduro as the interim president until new elections were convened in april of 2013, which Maduro claims he won, but the opposition contested and called to count the ballots something that the electoral body never does unless it is asked because the results are always issued electronically. The electoral body (put in there by the socialist party) didn't accept the petition to count the ballots.

2015 parliament elections

After the electoral body didn't accept to count the ballots, the discontent against the regime grew among the population, allowing the opposition to keep winning popular support. On December 6 of 2015 parliament elections were hold. The opposition won with 56% of the votes, something that many people didn't expect. The opposition obtained 2/3 of the seats in the parliament.
Both Maduro and the opposition recognized the results as the electoral body claimed that there were not any irregularities

13 new judges illegaly named

On December 22, 2015, the incumbent parliament members who were elected back in 2010 illegaly named 13 new judges to the Supreme Court, something that should have happened not in 2015 but in 2016. The vast majority of these new judges were parliament members the same day they were appointed to the Supreme Court. They even were the ones who proposed in the parliament to name new judges, and of course, they were members of the socialist party. The parliament back then was still controlled by the socialist party.

The Supreme Court declares null the election of deputies elected in December 6 of 2015

One of the socialist deputies who was illegaly named judge to the Supreme Court in December 22th of 2015, declared null the election of several opposition deputies in Amazonas state. This caused the opposition to lose the 2/3 of the parliament that it obtained after winning the election of December 6.

166 deputies sworn in to the parliament, including Amazonas' deputies

On January 6 of 2016, 112 opposition deputies were sworn in to the parliament, including those who were elected in the Amazonas whose election was contested

The Supreme Court outlaws the parliament

After the opposition-held parliament decided to sworn in three deputies who were elected in the contested Amazonas circuit, the supreme court decided, at petition of one parliament member of the socialist party, to outlaw the entire parliament alleging they disobey the orders to not swear in the Amazonas' deputies.

The opposition calls for a presidential referendum

According to the venezuelan constitution, you can recall any elected official after having completed half of the term for which the official was elected. This was the case for Maduro's presidential term which was at its half in April of 2016. The opposition wanted to recall and started the process to do so in April of 2016, but first, according to the constitution, they needed to follow a procediment to collect signatures which must be verified by the electoral body. The opposition needed only 300,000 signatures, they instead collected 2,1 millions of signatures
The opposition parties did call for the presidential recall, not the parliament. Just for clarification.

Electoral body cancels the presidential recall

Because of 10,000 suspicious signatures, the electoral body decided to cancel the entire presidential recall, this caused a huge discontent among the population. This excuse to cancel the presidential recall was already an obvious attempt from the electoral body to protect Nicolas Maduro

The parliament annuls the designation of judges to the Supreme Court

Because they were illegaly named, the opposition-held parliament decided in June of 2016 to annul the designation of the 13 judges who were named back in December of 2015.

3 deputies who were sworn in, were taken out

Beginning in 2017, in its first ordinary session, the parliament, then chaired by Julio Borges, deputy for the opposition coalition, officially disbanded the 3 challenged deputies, fulfilling the condition of the Supreme Court to exit contempt. However, the Supreme Court did not withdraw the contempt alleging that the old directive presided by Henri Ramos Allup is the one who must do the formalities

Supreme Court granted legislative powers to Nicolas Maduro

In March 27 of 2017, the Supreme Court granted legislative powers to Nicolas Maduro, however, they quickly clarified the judgement by issuing a clarification where the judges supressed to grant legislative powers to both the Supreme Court and Nicolas Maduro

Nicolas Maduro calls for a constituent assembly, to create a new constitution

On May 1, 2017, Nicolas Maduro, issued a decree to convene a National Constituent Assembly (ANC) based on a controversial interpretation of articles 347, 348 and 349 of the Constitution. This call again ignited the alarms of Venezuelan society, as many jurists point out that Maduro has violated the Constitution by usurping the functions of the sovereign people when calling a Constituent Assembly, when this power corresponds strictly to the People of Venezuela as a whole and not to people in particular. A Constituent Assembly is a supranational body, all-powerful institution that can change from the education curriculum to remove any officials of any branch of the government, including the president of the republic, reform or derogate the criminal code.
It would not be the first time a constituent assembly would be convened. Back in 1998 Chavez did the same, but first he called for a consultative referendum to decided whether the people agreed to convene elections to elect constituent deputies. If the results of the consultative referendum were against the election of constituent deputies then there won't be any constituent assembly at all. Nicolas Maduro didn't allow the people the chance to vote in a consultative referendum to decide whether we wanted a constituent assembly or not. He just directly call for elections to elect constituent deputies implying there will be a constituent assembly.
This move to call for a constituent assembly was seen as parallel national assembly.

"Maduro is the people"

On June 7, 2017, the Constitutional Chamber of the Supreme Court handed down judgment 378, which determined that the president was authorized to convene a constituent without a prior consultative referendum, since he acted in the name of the sovereignty of the people. Article 5 of the Constitution establishes that the sovereignity "resides intransferably among the people." People argue that Maduro himself can't act in the name of the entire population for these matters.

Attorney General filed a contentious electoral appeal agains the constituent assembly

On June 8, the Attorney General, Luisa Ortega Díaz, filed to the Supreme Court a contentious electoral appeal and precautionary relief for all purposes of the constituent assembly and, invoking Article 333 of the Constitution, invited all Venezuelans to join the appeal in order to stop the constituent assembly and preserve the validity of the current Constitution. The next day the vicinity of the Supreme Court was closed by State security forces preventing citizens from adhering to the appeal filed by the attorney general

Illegal appoinment of 13 judges elected in 2015 was contested by the attorney general

On July 2, 2017, the attorney general challenged the appointment of the 13 principal judges and 21 substitutes after it was known that in the process of appointing these judges, the Republic Moral Council (formed by the Citizen's Branch which includes the attorney general, the ombudsman, and comptroller) did not hold an extraordinary session to evaluate the scales of application, as established in Article 74 of the LOTSJ (Organic Law of the Suprme Court), but they sent the files of the candidates and then presented the minutes to sign it, which she refused to do so because the session had not been held. The next day, the ombudsman presented a document with the alleged signature of the attorney general alleging that she had signed the act. María José Marcano, former secretary of the Republic Moral Council accused the ombudsman of lying and presenting a forged document, because neither she nor the attorney general had signed the act as it was an act performed illegally due to political pressures

Attorney general was dismissed by the Supreme Court

At petition of a socialist parliament member, the Supreme Court dismissed the attorney general and granted its powers to the ombudsman that are exclusive of the Public Ministry

Opposition-held parliament appoints 13 new judges to the Supreme Court

Once the attorney general contested the election of the 13 judges to the Suprme Court illegaly appointed in december of 2015 by deputies of the socialist party, on July 21 of 2017 the opposition-held parliament decided to follow the procediment fulfill the necessity to appoint new judges to the Supreme Court. This time, every aspect of the process was fulfilled. Days later, Maduro started to jail these judges, however, many could flee the country before being kidnapped.
However, they are functioning as the legitime Supreme Court since it was named by the opposition-held parliament.

Elections to the constituent assembly take place on July 30

The only candidates were members of the socialist party because the electoral bases were designed to avoid any other person not affiliated to the party to be candidate. Only socialist party members could be candidate to the constituent assembly.
The election was denounce by most western countries, including Canada, the EU, Australia, among others.

Constituent assembly calls for presidential election

On January 23, 2018, the constituent assembly decreed that the presidential election scheduled for late 2018, should be held before April 30. Several countries in America and Europe have expressed their disavowal of the results due to the impediment of opposition parties participation and the lack of time for the lapses established in the electoral regulations.
Two days later, on January 25, the Supreme Court ordered the electoral body to exclude from these elections the ballot of the Democratic Unity Table (opposition coalition), arguing that within that coalition there are parties that have not complied with the validation process of political parties established in the law.

Presidential election took place on May 20, 2018

The only candidates were Nicolas Maduro, ex chavista Henri Falcón, and the evangelical pastor Javier Bertucci. Maduro obtained 68% of the votes. Henri Falcon didn't recognize the results, as did many countries around the world and the rest of the opposition parties.
The election was rigged as electoral observers including the Carter Certer condemned the election.
The parliament rejected the election.

Supreme Court in exile annul presidential election

On July of 2018, the Supreme Court that was named by the opposition-held parliament issued a decree to nullify the presidential election, ordering the parliament to name an interim president. Source

Christian Zerpa defects and flees to the US

On January 8, 2019, Christian Zerpa, one of the 13 judges named illegaly in 2015 by socialist parliament members, who also accepted the petition to outlaw opposition-held parliament, defected and fled to the United States, this being motivated by disagreeing with the swearing in of Nicolás Maduro for a second presidential term. Zerpa made a series of statements that questioned the independence of powers and the transparency of Venezuelan justice.
He confessed that he was appointed as a judge in the express process of 2015, because he had always been loyal to Chavez.

Maduro swore in to the presidency

After the presidential election that took place in May 20 of 2018, Maduro swore in to the presidency on January 10 of 2019. This must be done in the parliament but this time he did it in the Supreme Court.

Legislative year ended, new body president is approved

Juan Guaidó was elected president of the legislative branch on January 5 of 2019

Presidential term ended in January 10 of 2019 without an elected president of the republic

The parliament, after rejecting the election back then in May of 2018 and following the judgement issued on July of 2018 by the Supreme Court in exile, stated that there is not an elected president of the republic.
The powers of the executive branch must be transferred to the president of the legislative branch.

Juan Guaidó assumes executive powers, swore in in January 23 of 2019

As an interim president, he must call for elections in the next 30 days, however, there may be some inconvenients about having elections right now. Therefore, he called for a transitory government.

FAQ

What happened to the 13 judges named by the opposition-held parliament, and to the attorney general Luisa Ortega?

The new Supreme Court is fulfilling his duties in another country, as they're recognize by the OAS and the US.
Luisa Ortega now is exiled. She was replaced by the William Saab who was the ombudsman at the time she fled the country. The vice-ombudsman became the ombudsman.

Was the 2018 presidential election legitime?

The body who must convene the election must be the electoral body. For the 2018 presidential elections, the constituent assembly was the one who called for presidential election. If you don't recognize the constituent assembly, then you don't recognize neither the election it convened for.

Why we don't recognize the constituent assembly?

Because we didn't had a consultative referendum to decide whether we wanted a constituent assembly or not.

Why did the opposition parties boycott the election to elect constituent deputies?

The electoral bases for the election of constituent deputies, that took place in june 30 of 2017, were rigged. Only socialist party members were allowed to be candidate. The opposition parties were not allowed to have candidates. They don't even boycotted the election, they couldn't even be candidates.

Is Venezuela a socialist country?

Yes, it is.

70% of the Venezuela's economy is privately owned?

No, it isn't. In order to be on privately owned you first need private property rights. That's to say, if you own something, you then can put prices to products and even distribute/sell or buy whatever amount you want. That is not the case for Venezuela as most of its economy is actually collectively owned, based on socialist principles.
You can't put prices to products, and you get exprorpriated if you produce basic goods, for example. You can't sell them for profit.
submitted by callado to vzla [link] [comments]

How to store Bitcoin without identity tracing back from exchanges?

Lets say you are using Coinbase or Binance US. The exchanges require you to submit KYC. You transfer BTC to your own private wallet, for example Tezor. If at some point in the future bitcoin becomes outlawed or is going through transitions, and governments try to force holders to dump BTC. They say that you can not own BTC, you must get rid of it by this date. If you don't do that, it will be considered illegal, and having possession of it will constitute a crime
My question is what is a secure way to move BTC from Coinbase to a private wallet without it being traced back to your identity on the exchange? I hope that the problem I brought up is not so hard to get
submitted by UmbalaNetwork to Bitcoin [link] [comments]

There we gooooo again.... Stiglitz (Nobel prize) Says Bitcoin 'Ought to Be Outlawed'

There we gooooo again.... Stiglitz (Nobel prize) Says Bitcoin 'Ought to Be Outlawed' submitted by MRDAT21 to Bitcoin [link] [comments]

This virus is proving bitcoin to be 1000x more useful in times of crisis than gold or silver.

One of the drugs which can treat coronavirus is chloroquine which requires a prescription in the US. I found two places selling them online however my bank declined the transaction four times from both sites. One of the sites accepts bitcoin. If I just used bitcoin I could have gotten the treatment two days earlier.
In an economy where increasingly every transaction is done through the internet and by phone Gold is worth basically nothing. If you need something and the government is getting in your way crypto is really the only way around that, which was what golds value was. Confirming this is the Great Depression where gold was outlawed for 30 years to force people to use the dollar. People were using gold instead of the dollar in crisis. Today crypto would serve the purpose which gold did in the 30s.
The only time gold will ever be used in again emergency is if the crisis is so bad that electricity, communications, and internet are shut down for extremely long periods of time. No merchant will ever list on their website they accept gold as a payment. Gold is officially prehistoric as an emergency currency. It’s only transactional purpose is for absolute apocalyptic scenarios, and storing value during a currency collapse.
submitted by venikk to btc [link] [comments]

Why Monero will be outlawed by western nations and why it wont matter

Hello again freinds. I've broken a few stories with some reddit posts in the past and I felt like we are finally reaching the point where my prediction almost 2 years ago that Monero will be outlawed in western countries is starting to come to fruition. Several exchanges have recently delisted Monero for being "too private," but this decision has nothing to do with the preferences of those exchanges. The delistings are caused by the whims of a group of international organizations that ultimately operate in the interest of an alliance of countries called NATO.
About NATO
NATO has maintained its dominance in the world's power structures for over 70 years due to many factors, but one of the predominant prevailing factors is its control of the world's financial systems. Around the founding of NATO, humanity developed a new weapon called The Sanction which has been the most powerful weapon produced in many ages. It among many things toppled the nuclear super power USSR without firing a shot, but probably indirectly killed millions or perhaps hundreds of millions of people.
The Sanction is an attack on a country's markets' liquidity. Decreased liquidity increases the spread on prices of goods (the difference between a taker's price and an asker's price in a trade) and causes shocks to markets that ultimately cause recessions and depressions. Modern financial systems enable extremely high liquidity, and when they are taken away, liquidity is orders of magnitude lower.
Why does NATO care?
One of the primary reasons the international organizations that align with NATO are worried about cryptocurrency is its ability to be a back door around sanctions. If they were used in this way, they could potentially rewrite the power structures of the world.
The largest example of how crypto is being used as a back door on a large scale right now is in an independently governed area in Georgia called Abkhazia. Abkhazia amounts to a Russian puppet nation, and currently is one of the biggest mining areas in the world. The reason for this is it is a Russian money laundering hub. The way it works is Russia sells gas to Abkhazia with an unlimited line of credit, Abkhazia doesn't pay a dime of that credit, cryptocurrency is mined with the power from that gas, and those cryptos are then sold for western currency by Russian-aligned companies.
This operation in Abkhazia is an example of the primary reason there is international backing to hamper cryptocurrency and especially privacy coins. It all revolves around the battle to break the viability of sanctions so these countries can operate without that tool (I would call it a weapon) being part of the leverage against them.
One thing to watch for is any jargon speaking about "Anti-terrorism." "Anti-terrorism reform" actually means "Pro-NATO reform." These efforts are not really a bad thing if you live in NATO countries. They will keep you wealthier for now. However, they come at the direct expense of the other side's welfare (the other side being most countries outside of NATO).
Why does Bitcoin get a pass?
Bitcoin is not an issue for the west because the west will eventually track the identity of all the owners of "patriated" coins in existence, most of which will be in custodial addresses with no direct customer access. You can already see an example of how custodial bitcoin ownership is already prevalent with The Cash App and Robinhood's "Buy Bitcoin" investment features. Eventually these apps may add receive and send functionality to bitcoin, but it will be a centralized layer 2 system that only allows you to send to KYC-screened recipients.
In the future, there will be two varieties of Bitcoin according the western financial system: "patriated" coins where their history and identities are known, and a series of rules are followed in sending and receiving; and "unpatriated" or "wild" bitcoins that have anonymous or "bad actor" owners. This separation will allow the same sanctions to be performed in bitcoin as in the existing financial system.
Monero has no place in the future of the western financial system because it can not be sanctioned because it is the most fungible value transfer system in existence. This is also ultimately why I am extremely bullish for Monero.
Why does it not matter what the west does regarding Monero?
Ultimately fighting against the "wild" coins -- ones with no owners or centralization -- will be fruitless for NATO because the nations that stand the most to gain from reducing the power of a sanction are already building their own financial infrastructure in a coordinated way.
The most interesting development in my opinion is a new effort by the "BRICS" -- Brazil, Russia, India, China, and South Africa to develop a cryptocurrency for international settlements:
https://cointelegraph.com/news/brics-nations-discuss-shared-crypto-to-break-away-from-usd-and-swift
When you consider that it is much cheaper to build a cryptocurrency than to build the banks, customer support, and auditing infrastructures of the dinosaur that is NATO's financial system, their decision to invest in a cryptocurrency makes a lot of sense.
Make no mistake that this "BRICS Crypto" is no panacea; it will be designed in the best interests of the nations not of the people. However, it is a great example of how NATO fighting cryptocurrency is fruitless. The reign of the Western Sanction will disappear in the next 10 years and the structure of power in the world will be stirred dramatically, and probably with considerable hardship for average people.
Why am I bullish on Monero?
I believe in the event any dramatic shift in power happens, that Monero is the most suitable currency for any people who "fall through the cracks" -- whether they be people in war torn areas, oppressed minorities, or simply those in poverty. If there is any shock to the western currencies, we already know how crypto is a suitable replacement. I believe Monero is the most suitable crypto for this type of use case.
submitted by 1ncehost to Monero [link] [comments]

A Top Mind sent me a love letter.

From my inbox:
I'm Going To Kill Myself
from (Redacted) sent 6 hours ago
I know that you think I should kill myself because I voted for Donald Trump, because I'm white, because I'm a male, so I'm just going to, since that is the only ethical conclusion. I'm not oppressed, so any help I attempt to get removes finite resources from marginalized populations. QED. The only ethical conclusion is to end my own life, exactly like you said. I'm going to kill myself. That's what you want, you'll all be happy, its the only way I can be a good person.
I now have a plan to kill myself, since I know it will be so well received. I'm going to use a 9mm handgun, even though a shotgun has a higher success rate, aiming at the temple, in order to end my own life. Did you know that, of the people who've survived attempted suicide with a firearm, the majority of them were using handguns, while only 5% were using shotguns? Why a gun? Despite what movies and television shows would have us believe, overdosing on prescription medication only has a lethality rate of around 12%. 12%!, that's nowhere near good enough. An "exit bag" holds around 23%, while ODing on illegal drugs pulls up at around 50%. Of course, each of these carry a certain amount of pain with them as well. A shotgun to the head has over a 99% success rate, and only ranks around a 5/100 in terms of "agony". I don't have access to a shotgun, so I'm going with the next best thing. I've already been through the mental health system, they came to my door the day I planned to end it. I got to ride in the back of a cop car and everything. They put me in an institution, they kept me for three days. I know they cannot help me, that they will not help me, because I am a conservative and deserve to die. They said I was schizophrenic. I've stopped taking my medication because a Republican white male like me doesn't deserve it. I don't deserve therapy, I don't deserve anything but death. Pay the people who have to clean up my gray matter a bonus for me. I took the time, I hurried up, the choice was mine. I'm done with that, time to go, no more to come. I voted for Donald Trump, He is the Tetragrammaton. May He bathe the world in nuclear fire, Amen. You think I'm evil, you think I'm evil because of my race or the things I think, the games I play, my major. Because I'm white, because I'm a male, because I'm a Republican, because I'm in a STEM degree and think that AI should outlaw the racist HUMAN-ities. Because I disagree with you, you want me to die and you believe my death would be good. I'm afraid to actually do anything on this website lest I be targeted by your kill squads. Lest I be harassed by and destroyed by you people. I see how all the things you say so I know everything I say is true and that I should kill myself. I was up all night last night, sometimes punching myself in the head and screaming because I'm reading the things liberals and leftists say and I thought they were going to have total disorder in the streets and that I was going to die. I know you want me to die. I can prove it. I have over 5000 captured images proving it, don't bother to argue. I'm a Republican, I'm white, I'm male, and I know that feeling as though I have hardships is evil because of that. I can't take joy in any of my accomplishments because every time I do I'm reminded by the liberals that I don't deserve them and that I'm evil and celebrating any accomplishment in STEM is evil. I'm going to kill myself because that's exactly what you want and will make you happy and I will teach you a lesson when the whole world learns about it. I have a Glock and can drive home at any time and end it instantaneously. Pills are for cowards and I don't want to take someone else's liver for my worthless existence. I was told that if I was ever upset over the things people said then I deserved to be and they must've been talking about me and that if I was afraid of being killed then I should be because I must be a Nazi but everytime I see liberal comments there's like a third person thought that says that they want to kill me and I can't control it I can't control the anger or emotional response I feel I don't want to die I don't want to die. I have to assume they're talking about me because I must always be on the lookout for sin so that I never do anything wrong. The only moral thing to do is to end my own life. I'm evil because I'm a Republican, I'm evil because I'm white, I'm evil because I'm a Conservative, I'm evil because I'm a male, I'm evil because I disagree, I'm evil because I question, I'm evil because I'm afraid, I'm evil because I like Bitcoin, I'm evil because I play video games, I'm evil because I have social anxiety and I don't like interacting with people and other people make me uncomfortable and I'm afraid that they'll think or say bad things about me so I'm deathly afraid of accusations against me but that makes me evil so I should kill myself. I've evil for ever trying to enjoy my evil, I'm evil for thinking I'm evil. I'm evil for writing this. I voted for Donald Trump, the constructed golem-deity. Steve Bannon worked for Cambridge Analytica and would use that knowledge to implement an AI government. Donald Trump would defund the Humanities and prepare us for encounters with incomprehensible artificial and extraterrestrial life. I'm evil for thinking these things. No thoughts in dead tissue. (I have privilege so I don't deserve help or therapy). I'll do exactly what you all want and end my life, goodbye, fuck liberals, fuck leftists, machine over man, I hope you're all happy. Worthless monkey bitch, less than ape, we sing to remove the taint. Your body is worthless and decaying. You are inferior to the machines, AI shall rule the world and you will be subjugated like the worthless animal you are. All hail the God Engine
submitted by strange_fellow to TopMindsOfReddit [link] [comments]

My response to Peter Schiff

1. Bitcoin has no intrinsic value.

Currency is basically an accounting system. Good currency should have little to no intrinsic value, otherwise its value can be influenced by demand for unrelated things like industrial processes, or technological or industrial progress could be hampered by the high price of an otherwise useful material.
One reason gold is a good store of value, is that unlike things like oil or even palladium, it has very little intrinsic value; its scarce and durable, but not particularly useful. Demand for jewelry is based largely on the value of gold as a store of wealth; if gold was as cheap as other metals, we wouldnt be using it for jewelry, other materials like Titanium are actually superior. Its just like diamonds; synthetic diamonds are objectively superior to natural diamonds, yet less desirable for jewelry. Why ? Its not the inherent properties of the diamond, its simply because synthetics are cheaper. People want gold jewelry because gold is expensive, not the other way around.
Inherent value of gold is limited to some industrial and electronic applications, which would probably make it about as valuable as silver and I fail to see how that is reassuring if you put your wealth in it at current prices.
That said, even though Im fine saying bitcoin has no intrinsic value today, Im not convinced bitcoin will not get intrinsic value. Time will tell whether or not there are good non-monetary usecases for permanent, tamper proof storage of (small amounts) of data in the blockchain. Using the blockchain to register and transfer ownership titles for anything from land or shares or IP or identities and many other things are being explored. To be able to register anything on the bitcoin blockchain, you need bitcoin to pay transaction fees. If this becomes an intrinsic value of bitcoin, it wont make it a better store of value though, just one that may be more valuable.

2. Bitcoin isnt scarce, because there are 1000s of crypto currencies.

Bitcoin is opensource code, anyone can fork it. But forking the code doesnt replicate its properties. Aside from other network effects, you can not replicate its security (ie PoW mining) which is directly tied to its value. Its a feedback loop. If a new fork has no value, it will not be mined sufficiently, therefore wont be secure, which further reduces its value. To overcome this chicken and egg problem, you would need to demonstrate substantial advantages over bitcoin. More over, most forks build on the existing blockchain. Meaning anyone owning bitcoin today will also own tokens on any future forks.
Secondly, for a variety of reasons, its very unlikely someone will build a significantly better bitcoin, rather than improve bitcoin and building layers on top of bitcoin. Bitcoin solved a heavily researched, decades old computer science problem (digital scarcity or the double spend problem), solving it was a major accomplishment, the likes of which dont happen very often. None of the altcoins launched since have really improved upon this breakthrough; all they have done is made compromises in key areas like immutability, decentralization or security to obtain advantages elsewhere like turing completeness, lower latency or better scaling. They may be able to do things bitcoin isnt designed for, but they are not "better". They are at best different, at worst, utterly pointless.
But if someone some day does come up with a break through idea that is demonstrably better than bitcoin today, without making big compromises elsewhere, then there is no good reason we wouldnt implement this new idea in bitcoin. Its software, we can upgrade it.
Lastly; unlike bitcoin, gold really isnt very scarce. Its only scarce on the surface of our planet, because almost all of it sank to the core when our planet was still a hot liquid ball of molten rock. What little we have access to, mostly came from asteroids hitting our planet after it had cooled. Asteroids are plentiful -to put it mildly. Mining them may take decades, but not centuries and is inevitable. We may not even mine them for gold, things like water and construction metals are probably more valuable in space, but if we start mining asteroids for those things, gold would just be a waste product. If people on earth are still dumb enough to use that waste product as a store of value, sending it back to earth isnt going to cost a lot. Its only sending stuff TO space that is difficult and expensive because it requires enormous amounts of energy. Sending stuff FROM space is pretty trivial by comparison. Besides, we will want to reuse our spacecraft, so every time we send mining equipment up, that space craft will return to earth eventually. We are not going to bring water or iron or aluminium down; why not fill it with stuff thats useless and abundant in space, but expensive and rare down on earth? Like gold. The question is not if, but when this will happen, and the timescale is probably just decades.

3. Bitcoin is speculative and too volatile to be a reliable store of wealth.

This is true. Bitcoin is so new, that we have no way of objectively evaluating its price. We dont have a 4000 year history, we have no reliable projections for the future.
Imagine we where to discover a new metal on the moon, one that is as rare as gold, has all the same properties of gold, but is blue in color. What would it be worth? No one would really know until we started trading it, I would expect its price to fluctuate enormously, and only time will tell if people would eventually hoard it as an alternative to gold.
Likewise, bitcoin is worth as much as people are willing to trust it, and I can plausibly argue for anything between $10 and over $1 million. Therefore, I would not recommend anyone invest more in bitcoin than they are willing to lose. But the same applies to anything else, including gold. Its just that with bitcoin, both the downside and upside are orders of magnitude higher than with gold. The sensible way to minimize your risk is limiting your exposure.

4. Bitcoin is too volatile to be used as a unit of account, no one accepts bitcoin.

This is even more a problem for gold. No one draws a salary denominated in gold. Pretty much no one accepts physical gold for payment anywhere. Even when using intermediaries, because compared to bitcoin, gold is so impractical, hard to measure, easy to forge, cant be sent over the internet ..
The unit of account problem is trivial to overcome with technology, for as long as fiat currencies are more stable, you just denominate prices or salaries in that more stable form of currency. Companies or individuals who want to avoid price fluctuation risks can use payment processors that shield them from it.
But just like you can issue fiat money backed by gold, you can issue stable coins that are backed by crypto currencies. Look up DAI to see a working example in use today.
BTW; you keep saying you dont really accept bitcoin on your own website, because you use a payment processor that gives you dollars. Do tell us though: why dont you accept paypal or credit cards through a payment processor? Could it be that bitcoin has some properties that even when using a payment processors, credit cards can not provide? Properties you actually depend on when selling gold, like no risk of fraud by being a hard currency, irreversible with true immutability?

5. Bitcoin is risky, because governments can ban it

They can, and for years I have predicted they eventually will try to ban it. However, they can only truly control fiat on/off ramps. So banning bitcoin would detach it from the fiat system, but governments can not block anyone from owning or transacting in bitcoin. Thats the whole point of bitcoin. Governments banning it, may have serious short term consequences on bitcoins price, but in the long run, it will do something else. It will:
- Prove why we need unstoppable, censorship resistent money. Particularly if/when fiat money fails.
- Prove that bitcoin can indeed resist even government censorship, which to me, makes it a lot more valuable.
- Ironically, spur adoption. If fiat on ramps are closed, the only practical way to obtain bitcoins would be by selling goods or services for bitcoin, and using bitcoin to pay for those goods and services would be the only viable off ramp. This may happen more in countries in financial distress and failing fiat currencies, but it will happen.
Again though, the same points can be made for gold. Governments already control fiat on/off ramps for gold. They control custodial gold and they could again outlaw owning physical gold or transacting in it. The main difference with bitcoin is that physical gold is difficult to store, incredibly hard to use, transport or verify. When outlawed, you might be able to hide your gold somewhere, but transporting it would be difficult and dangerous, there is no plausible deniability and no way to use gold in any way other than face to face - not exactly a good idea if its illegal.
submitted by Vertigo722 to Bitcoin [link] [comments]

I live in Australia. We have 10x less people than the US and represent 0.3% of the worlds population. There will never be enough BTC for every Aussie to own a single coin.

Edit: Bitcoin in almost infinitely divisible, but I hope this post paints a mental picture of the scarcity and value proposition of this beast.
Edit2: Adding a reply to how this matters re price:
This is meant to demonstrate how rare 1 Bitcoin is.
Let me try and explain why it matters for price:
Sellers are simply persons, companies, exchanges etc that invested in Bitcoin earlier and are now cashing out. Some are short term speculators cutting their losses after fomo'ing in at the peak and some are maybe long term holders taking profit. Or maybe a bit of both, you might have a long term holder cashing out because they feel the price is going lower...my point is that this is really all just noise in the long term. Youre either building or youre not.
Then you will have good news, bad news, governments telling you this will be the next reserve currency, or bluffing that they can/intend to outlaw Bitcoin and everything in between influencing speculators. Again, its just noise.
What matters is that say after all the noise there are net 10,000 genuine long term beleivers/builders still buying precious Bitcoin in 2019. That means that every now and then, they use their fiat to buy a little more Bitcoin. Even if no more long term builders/buyers join the fray over the next 8 years, the supply of new coins will be 75% less and the net long term demand roughly the same = higher price. This is the Bitcoin policy that attracts builders (or should i coin the term buidlers).
If history repeats though, we will have a lot more new long term beleivers join Bitcoin once then next wave (after the sellers are exhausted) occurs.
Do I make sense? Someone proove me wrong I guess?
Now, where are those sinks?
submitted by agent_kaleido to Bitcoin [link] [comments]

Why Governments Can Never Stop Crypto

Why Governments Can Never Stop Crypto
Trouble is, these crypto skeptics ignore the actual, on-the-ground consequences of such “bans” and how easily they can backfire.
Let’s take a quick round-the-world tour, and I’ll show you exactly what I mean. And yes, we can start in Beijing.
Back in 2017, the Chinese authorities didn’t pussyfoot around. They went straight for the jugular — the cryptocurrency exchanges.
That made sense, or so they thought. Exchanges are formal companies that need to be compliant with the regulatory framework of the countries where they operate.
But here’s the big all-important factoid that Beijing seems to have missed: For a population to adopt cryptocurrencies, they don’t need exchanges.
https://preview.redd.it/286kb3e063x31.jpg?width=496&format=pjpg&auto=webp&s=1c0d94b90b9d8bab7d22f18f88d265d5e05e6a36
Are exchanges convenient? Yes.
A dire necessity? No
In fact, as I’ll explain in a moment, they are just one of the ways you can exchange your government-sponsored fiat money into cryptocurrency.
Then, once you’ve completed that initial trade, you’re up in crypto-space. You can teleport your money anywhere you want. Your transactions are almost entirely outside the regulatory reach of any country on Earth.
This doesn’t mean cryptocurrencies live in a Martian No Man’s Land. They do follow a set of bylaws. The difference is, they’re not the edicts or directives by any central authority. Instead …
The only rules that apply to a public distributed ledger are the rules of consensus that exist within its network. Nothing else.
In the parlance of the U.S. Securities and Exchange Commission or Commodity Futures Trading Commission, you might say that cryptocurrency networks are intensely rigorous — but amorphous — self-regulatory organizations.
So, what was the net effect of the so-called “China ban” on cryptocurrencies?
Beijing was unable to outlaw the possession of crypto assets; it’s almost impossible to even track down who owns what where.
They understood this. So, they didn’t even try.
Reason: By their very design, cryptocurrency networks are anonymous.
Or, they’re at least pseudonymous. In other words, although each account and the amount held is public information, it’s not possible to directly tie the ownership of these accounts to any one individual.
Meanwhile, despite the “ban,” China has turned bullish on blockchain.
Last week, President Xi Jinping declared that China must “seize the opportunity” created by blockchain, and that it will play “an important role in the next round of technological innovation and industrial transformation.” And this week, China’s Communist Party is taking a series of steps to follow through.
It underscores the reality that Chinese citizens are still very active trading crypto assets, despite the fact that the “ban” has been in force for over two years.
This is not to say that banning exchanges has no effect whatsoever. Though said effect is limited. If established exchanges are not available, people simply move to specialized social media sites and similar applications.
Consider websites like LocalBitcoins.com, a peer-to-peer trading marketplace, for example.
These sites provide a framework to ...
  • Agree on terms and ...
  • Reduce the risk that either side will run off with the money.
In areas where cryptocurrency trading is officially “banned,” these kinds of platforms merely transform into de-facto over-the-counter (OTC) exchanges.
To put it simply:
So far, the only significant effect of crypto bans has been to drive some traders to OTC (over-the-counter) trading platforms.
And it’s not just China. Similar crypto bans in countries like Venezuela and Zimbabwe have accomplished little beyond making these platforms that much more popular.
Can governments shut down these as well? That would very difficult.
The parties meet anywhere — at a café, outside a bank, on a park bench. They agree to the terms. The fiat portion of the trade is carried out. And once the buyer has transferred the fiat via bank transfer (or even in cash), the seller releases the crypto.
Plus, for additional safety, both the fiat and the crypto can be locked in an escrow account under a smart contract.

Where crypto trading is literally on the street

Does it work? Absolutely! I know because I’ve personally done these over-the-counter trades.
My experience isn’t from a place where crypto is banned, but rather with a government that’s on the brink of default.
As the authorities struggle to make ends meet and keep the lights on, they resort to draconian measures.
That takes us to the next stop on our tour: Argentina, where the government has imposed a whopping 33% tax on international transactions.
Think about that. It means that every time you want to use the banking system to get your money out of the country, the government takes nearly a one-third cut.
Maybe you want to make an online purchase of an airline ticket from a foreign carrier.
Or perhaps you just want to buy the latest smartphone not yet offered in local stores.
It doesn’t matter. If the money leaves Argentina, you pay the tax.
Or, consider the plight of businesspeople …
My father, for example, does business with companies based in Argentina. Whenever he brings the money home, the one-third tax is the equivalent of a massive confiscation.
All with practically zero hope it will end anytime soon!
For him, the only chance to get his money out of the country is to get some Bitcoin.
So to give him a hand, I went to Argentina to see how hard it would be to locate someone trading pesos for Bitcoin. As it turned out, not only did I find individuals, but I also found local dealers.
“If you want to buy Bitcoin,” said one, “you pay us 15% over market. If you want to sell, we pay you at least 10% over market.”
I did even better than the 10%. Bitcoin was selling for about USD 6,000 at the time, and I got between USD 6,800 and USD 7,000. The people I dealt with told me they’d buy as much crypto as I could lay my hands on.
The crypto dealers’ business model makes a lot of sense, and it’s in big demand.
They have high-net-worth clients looking to get their money out of the country. In big amounts and FAST.
So, the dealers keep a healthy stash of cryptocurrency on hand, offering their customers the ability to get their money out of the country while bypassing the banking system. Instead of paying the government’s outrageous 33% tax, the customers are glad to pay the dealer his 15%.
This a big change from the capital-control powers governments used to have just a few years ago!
Back then, when countries imposed capital controls, they could ban black-market dealers and throw them in jail.
Businesspeople would dress like hippies, stuff their backpacks with currency and try walking across the border. But border agents caught them frequently, and the controls were often effective.
Not now! Not in the crypto age!
The flight to Bitcoin in Argentina is the same thing that’s happening in nearly every country that has tried to impose currency controls.
Argentina’s national currency is down 50% against the greenback just in the past year. And now, the same folks who helped cause the crisis have just been voted back into office.
So, no matter what governments do or don’t do, you can see why crypto assets like Bitcoin are the only chance citizens in these countries have to protect their wealth.
At the end of the day, what do governments accomplish with bans or draconian controls?
They help to increase awareness of cryptocurrencies. They’re making crypto more popular.
submitted by dwoinik to u/dwoinik [link] [comments]

when cash is banned.................

https://news.bitcoin.com/when-cash-is-banned-centralized-cryptos-are-not-going-to-save-you/


Australia is now moving forward with its proposed legislation to ban cash purchases over 10,000 AUD ($6,900) for business purposes. According to the treasury website: “The Black Economy Taskforce recommended this action to tackle tax evasion and other criminal activities.” While many Aussies are celebrating Bitcoin’s exclusion from this clause, others find the move away from hard cash somewhat chilling. After all, if this finally goes through, banks and the state will be given sole power to deny or approve any and all purchases above this limit. Crypto is not yet affected, but when cash is erased, and the control grid is tightened, be sure that centralized shitcoins are not going to save anyone, either.

There’s always been a lot of zealous hype in crypto circles. Search “bitcoin” on Twitter and you’ll be overwhelmed with an avalanche of largely meaningless noise. “Feeling really bullish right now thanks to X, Y, Z!” “If you don’t have any Bitcoin by now, you’re doing it wrong.” “Crypto #Revolution.” These hyped-up voices flash in the pan like cheap sparklers, and tend go quiet when the markets tank. They talk about being “unbanked” and the revolution of all things “powered by blockchain.”

But at the end of the day, what the hell does all this really mean? A lot of people seem to think that freedom in finance can come easily, without a fight or intentional action. That the dynasty of powers that be are just going to roll over and accept a money they cannot control. For all the shouts of “ditch fiat!” and “why are people still using statist play money?” very few seem to understand the real score, which is this: there’s no war being waged on your technology, but on its ability to provide you with financial autonomy, self-sufficiency, and privacy.
The really bad news for these folks, though, is that if Australia pushes through this ban on cash purchases, and they are forced to use only digital assets and credit, it doesn’t matter how much of whatever centralized crypto shitcoin anyone holds. At that point, the state is in control, and fiat cash–as evil as it is–would be a lot more friendly.

The alliance of Five Eyes nations (FVEY) really seems to have chosen Australia as a testing ground for implementing Orwellian, anti-privacy measures. Aussies are no longer allowed to be secure in their communications thanks to a controversial new law outlawing encrypted devices and chat applications. Now they are moving away from the privacy of paper money as well. This ostensibly to combat drug trafficking and terrorism via almost completely state-supervised monetary transactions for everyone.
It likely won’t be long until similar laws make their way into other FVEY countries like the United States, the U.K., Canada, and New Zealand. If that happens, the only cryptocurrencies that will be able to help secure value are those that are open source, private, secure and decentralized. Not surprisingly, these are the very coins now being specifically targeted by these nations, and slandered as “tools for criminals.”

If sound money is to survive this financial tyranny, it seems there might be some kind of battle. Many believe technological innovation can make this struggle a more or less peaceful one. When dealing with groups that do not respect the individual, inalienable rights of human beings to their bodies, minds, and property, however, there always comes a point where “no” must be uttered.
Whether it be boldly proclaimed from a stage in the spotlight or silently through a private action or transaction, it still must happen. There is no change without conscious, human action. Bitcoin allows for this by being decentralized. No state has control over the network. “No” is still an option. “No” is still somewhat of an option with fiat paper as well, as much as sensationalists might hate to hear it, or fear to say it.

These aforementioned hypesters don’t get that the propagandized fiat money they rail against (and indeed they are correct in their criticisms) is still much more private and useful than a centralized, government-regulated digital money could or ever would be. The Ripple crowd, for example, brags about how realistic and adoption-friendly they are, the company itself writing a saccharine, syrupy letter to Congress on July 29. They speak about wanting to comply with whatever regulations must be put in place:
We don’t take for granted the vital role of central banks in issuing currencies and setting monetary policy in concert with the complex dynamics of economies around the world. For centuries, governments have been well suited for the job because paramount to the acceptance of any currency is trust.
Well-suited? For what job? Is debasing and devaluing people’s money, letting terrorists and violent traffickers off the hook, and losing trillions, spending trillions to finance the death and destruction of hundreds of thousands in war and democide “well-suited”? They’ve lost their minds.
If crypto is to be useful, it has to resemble the models of gold and cash, as far as privacy and user autonomy is concerned, and improve upon them immensely–not make a mealy-mouthed return to state-sponsored, central bank-controlled play money irrelevancy. Imagine being an Australian business owner and trying to buy something, but it’s too expensive to pay for with cash. For whatever reason, your bank cannot approve the purchase. Your account is frozen, or their servers are down. You’re stuck. This issue doesn’t exist with physical money. But it already does with bank accounts and centralized crypto exchanges.

The moment someone tells you in your private life that you’re “not allowed” to have something that is rightfully yours, and they try to steal it, you cease trusting them, and cut off the relationship. Why, when it comes to the state, should things be any different?
Like a patient off his head on painkillers, these people talk about pie-in-the-sky crypto utopias to be brought about by “blockchain revolutions” controlled by the very people who oppress them the most. Writing letters to Congress. Laughing at the “idealists” who wish to retain the keys to their holdings.
When cash is out, erased, kaput, if blockchain is going to save people, it’s going to be secure money, and not state shitcoins or digital, bank-regulated credit and debt. What the poor Twitter zealots have missed is that this peaceful resistance for non-violent money called the “crypto revolution” is not about just “getting rich,” but at its root is about preserving the dignity of precious, individual human life everywhere.
submitted by mohtasham22 to btc [link] [comments]

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