It’s not going to go on for ever no matter what … It doesn’t matter until it does. One giant thing they miss that this is they assume a reserve currency goes on for ever, right, and you can just keep printing and people just trust in your currency. ibid.
What if a country, let’s say China, created a currency and decided to keep on printing for ever, and they used the currency and they used it to buy the world? … Would we trust that currency? ibid.
And so you can see from that thought experiment that if you just keep on printing money, people lose faith in your currency, and so you don’t have a reserve currency any more. So there’s a whole bunch of people like I think are like brainwashed in this ‘debt doesn’t matter’, that this can go on for ever. And it’s going to happen gradually … There is nothing that can that stop this. We are going to have deflation for sure. Structurally, technology requires it. The path to get to deflation could end up through hyper-inflation first – currency default, debt default – it could happen a whole bunch of different ways but we are going to have deflation anyhow. ibid.
The concentration of wealth because you’re fighting a natural force – Capitalism can’t work, right, so effectively the Government is the market today. Free market principles don’t work any more. ibid.
Deflation we’ve never seen in our lifetimes. What if next year everything around you got cheaper? All it does is increase the value of your savings, and decrease the value of your assets. ibid.
Why do you think the top five technology companies are at historic heights? ibid.
Everybody knows it. ibid.
More band-aids on a systematic, a structural change that has to take place. And so what they’re really trying to stop is a revolution, right, but they’re making the revolution more likely. ibid.
15% of American adults now own some form of cryptocurrency. More than half of those invested for the first time in the first half of 2020. On average, they invested about $67.5 billion in cryptocurrency, roughly $4,000 per person. Brad Michelson, rshevlin @ ForbesCrypto
This is a new kind of mining: not for gold or silver but for Bitcoin. Bitcoin is a form of digital cash used on the internet. It appeared on the net as a monetary manifesto … No-one knows for sure who created it. Dark Net s2e3: My Money, Showtime 2017
El Salvador has officially adopted Bitcoin as legal tender.
A recent poll by YouGov has shown that that 27% of US residents supported the idea of making Bitcoin a legal tender in the United States.
The survey, conducted among 4,912 US adults, also revealed that the younger generation has a more positive attitude towards Bitcoin.
On September 7, El Salvador officially adopted Bitcoin as legal tender, making the cryptocurrency an accepted means of exchange for goods and services. While El Salvador is the smallest country in Central America, its adoption of Bitcoin has made an impression on some larger countries in the region.
Aside from Central America, the news could have an effect on the US, where some advocates are considering the idea of Bitcoin becoming a legal tender. World Economic Forum online article, ‘El Salvador has adopted Bitcoin as official legal tender － but will other countries follow?’
In recent years there has been an increasing number of so-called cyber crimes in which criminals illegally exploit computer systems to do everything from stealing a single person’s identity to manipulating the global financial system. The Unexplained with William Shatner s2e8: Outrageous Robberies, History 2022
Six hundred bitcoin mining computers stolen in Iceland: Total of 11 people have been arrested so far in connection with the ‘big Bitcoin heist’. ibid. online article
I’m investing my own cash into this volatile market without knowing there’s about to be a massive crash. Cryptocurrency: Has the Bubble Burst? Channel 4 2022
There are now over 18,000 different crypto currencies. As well as a crypto investment market worth over $1 trillion. ibid.
This is a crypto mine … depends on how the power is generated … ibid.
It’s fools’ gold. And it’s dangerous. ibid. sceptic ex-trader
I think the fact that within the bitcoin universe an algorithm replaces the function of the government … is pretty cool. Al Gore
Bitcoin is the most stellar and most useful system of mutual trust ever devised. Arif Naseem
Bitcoin was created to serve a highly political intent, a free and uncensored network where we can all participate with equal access. Amir Taaki
Bitcoin is a technological tour de force. Bill Gates
Every informed person needs to know about Bitcoin because it might be one of the world’s most important developments. Leon Luow, Nobel Prize nominee
It will be everywhere and the world will have to readjust. World governments will have to readjust. John McAfee
Having alternative currencies is great … Let the market determine whether there’s any value or not … The government policy should be completely agnostic about what unit of exchange is used. Jared Polis
Presenter: Simply flooded the system with money?
Jerome Powell: Yes, we did. The Great Reset & the Rise of Bitcoin, 60 Minutes interview, 2022
Which means you need to print money to solve that debt. ibid. Greg Foss
And with each cycle, our economy continues accumulating debt indefinitely because we prefer borrowing to repaying debt. ibid. commentary
Governments will never show us the true inflation numbers, and they will not attribute it: 356% as share of GDP. ibid.
We can see the sharp increase of the global debt even in just the most recent years. ibid.
These solutions are not necessarily in the best interests of citizens and their personal freedom … The Great Reset … Part of their plan is the creation of central bank currencies – CBDCs. This would allow central banks to have a new monetary system that they could detach from the present one. ibid.
Decentralisation in Bitcoin is the fact that no-one controls the network. It is an open, secure network. ibid.
No other assets in the world provides this level of security. ibid.
The reason they want to ban Bitcoin is they know the power that it has. ibid.
‘It is important to understand that the fiat system was not a carefully, consciously, or deliberately designed financial operating system like Bitcoin; rather, it evolved through a complex process of compromise between political constraints and expedience.’ ibid. Saifedean Ammous, The Fiat Standard
Bitcoin is a real asset and it’s here to stay. ibid.
Some of the big brains and big egos who championed cryptocurrency claim they are building a crypto utopia with something called blockchain technology. And it just might change your life. Cryptopia, Torsten Hoffmann reporting, 2020
During the financial crisis in 2008 a mysterious figure called Satoshi Nakamoto published this nine-page white paper. ibid.
Your private wallet and your keys can replace your bank account. ibid.
Sam Bankman-Fried, the genius behind one of the most successful crypto companies, became one of the wealthiest men in the world in record quick time. Panorama: Downfall of the Crypto King, BBC 2023
He was once a crypto-billionaire. Now Sam Bankman-Fried is about to go on trial for money laundering and fraud. ibid. captions
No-one has lost more money more quickly than Sam Bankman-Fried. ibid.
Sam Bankman-Fried found fame after launching cryptocurrency company FTX in 2019. ibid.
‘Sam Bankman-Fried is fake just like a $3 Bill’. ibid. tweet short-seller Marc Cohodes
As FTX hosts Crypto Bahamas in April 2022 global crypto markets crash. ibid. caption
‘Complete misuse of client funds.’ ibid. critic
A Bulgarian woman has been placed on the FBI’s Top Ten Most Wanted list. Panorama: The Missing Cryptoqueen, news, BBC 2024
Cryptoqueen Accused Of Defrauding Investors of $4 Billion. ibid.
For five years the BBC has been investigating the missing cryptoqueen, a fraudster who stole billions. ibid.
She [Ruja Ignatova] may be linked to a major crime gang. ibid.
The founder of a cryptocurrency called Onecoin. ibid.
2 Founders of $32 Million Centra Virtual Currency Project Are Arrested. Bitconned, The New York Times online, Neflix 2024
The people who cared about Bitcoin really cared about Bitcoin. ibid. journalist
What if I could just go spend my Bitcoins. And with the profits I made just go buy stuff with it without having withdrawing/depositing etc. And that’s where the idea manifested for Centra Card. ibid. Sorbee
We were making like a half a million dollars a day. ibid.
Ray, I’ve been coming across other questions that have come up about Centra. The first thing is, Visa has said nobody has applied to issue a Centra card. ibid. New York Times journalist