Originally Posted by
Trasael Adnepos
Yes, well, of course I realize technology is a tool, like a good weapon or a saw is a tool, but my gut level reaction is that these, (whether by design or by future regulation), are sucking the unwary straight into a cashless totalitarian world which is not all that far off now. Hopefully there are those here who can share insight on the basic mathematical technology employed, as to whether or not the claims it is “foolproof”, “tamperproof”, “secure”, “independent”, “transparent”, “efficient” etc. are verifiable, but that is not the main issue.
I also know the vast majority have availed themselves of electronic banking now, from the basic card to the smart card to the phone and computerized e-commerce, so maybe this is a dead horse in the mass mentality, and everyone is resigned to a cashless society with not much thought for the ramifications to individual liberty or autonomy, but hope there remain those who are not, and know many in my generation, ( Boomer), regard cashless as a very small step away from the prophesied Mark of The Beast.
That said, and despite the craze, I roughly equate Bitcoin with tulip bulbs, “The Emperor has no clothes!”, “The fool and his money are soon parted”, and; am firmly in the Austrian Economics school when it comes to the whole present debt-based Keynesian system, where if all debt were repaid there would be no money. I believe we are approaching critical mass in the mother of all bubbles, where the thing implodes a thousand directions at once, and all the power the debt has purchased is brought to bear.
I am detecting some serious hooprah about blockchain and peer to peer digital currency being used to “kill the banks”, “eliminate the middle man”, and am told I can “trust the math” without the “math” ever being disclosed or even illustrated. To this old hillbilly, blockchain so far appears to be the Technocrat’s dream.
Someone recently retired told me they are considering a move to another country where they can mine and trade bitcoin more privately, and my first question was, “Does that country have an IMF currency?” Next, I asked if they seriously believed the banksters are going to allow competition to survive very long. It all seriously reeks of bait to me.
If I have understood any of what I have heard to date, (feel free to correct), first we have “blockchain”, which is touted as a mathematical open data-base platform with sweeping applications from private transactions to super-efficient industry and business management, (when combined with AI), which will make banks, with stock and security exchanges, literally obsolete. Those are hefty claims, with real ramifications to John Q. who is tied up and stored up in those institutions. Is it time to get out, or too late?
It looks from here as if Bitcoin has been permitted for a season as a PR “hook” to popularize the concept right before it is co-opted, regulated and controlled by the Overlords. Bitcoin, although novel in the “mining” and peer to peer direct secure or at least obscure transaction aspects, is still a digital currency, and, (IMHO), anything built out of furf can be counterfeited, once the code or algorythm is cracked.
Next came the versions of digital currency with the utility token, which looks to me a lot like a wooden nickel, or more accurately like a stock certificate which can be rendered worthless by market fluctuation, manipulation, or fraud.
Now they are marketing a “security token” version, which, unlike the former two, is a “government approved and regulated” maliable instrument, (negotiable instrument/currency) for transactions with participating corporations, which, (I have heard), are beating down the door to “get in”. “Getting in” is touted as enabling these corporation to de-list from the stock exchanges and run in the new game exclusively, integrating it into their management systems from radically increased efficiency in industrial engineering, (read – cracking on employees by real-time tracking and AI supervision of activities), to auto-payment of all payrolls, etc., and looks a lot like continuing replacement of human workers.
In all aspects I have discovered, this new game looks a great deal like Kontrol Inc. setting up a titanic bait and switch for the current debt-bubble implosion. I can’t see Gollum Sucks or any major trading house presently making billions out of thin air by leveraging the honest toil of common people being happy about the exchanges being replaced, but maybe they are already set up to do even better in the new one?
Right about ten years ago I was told of new banking software which basically eliminates secured debt by loan application as we know it and goes to a cashless system where everyone has an individually pre-set limit based upon assets and employment, where there are no exceptions to the actuarial formulae and everything you possess or own secures any debt, in the lender’s sole discretion.
This whole thing is right curious, and as the lit fuse grows short on the derivatives and bonds bubble while interest rates rise, (which some noted experts feel will pop the bond market at just over 3% with nowhere for the bondsters or municides to go), we ought to have a course plotted. I have long thought some form of debt Jubilee would used for solution bait when the Hegelian Dialectic operates upon the Crash, and am all in favor of declaring the “national debt” zero and letting whomever jump if they can still get a window open, (so long as we reject cashless and return to a Constitutional money system), but we really ought to have eyes open and our own plan, instead of joining the angry mob crying out for the pre-engineered solution when the pain comes.
Your thoughts, please.
Are BitCoin And Blockchain BEASTLY Traps?
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