History teaches that the most revolutionary & disruptive innovations (case in point : The automobile in the late 19th century, Johann Gutenberg's printing press in the 15th century), nearly always comes from the fringe, not from corporate cubicles.

True innovators see the world differently. They see the big picture. Creating new products & entire systems that lead to new industries.

Steve Jobs called them "the square cogs in round holes".

Bitcoin is digital currency & computer software. Capital "B" Bitcoin is the shared code that creates a global payment network, using computers connected to the Internet.

Bitcoins are virtual currency, digital money, created, stored & exchanged on that network. But unlike virtual Dollars created by a banker, this new currency was created with Math by an anonymous inventor.

Bitcoin is an open source software protocol, like much of the code supporting the internet & email (POP3, SMTP, etc.).

Open source means anyone, everyone, can use the protocol.

No one person or company can control it. Every change to the software is public, open & transparent!

The code was first developed by Satoshi. Then there were dozens, now hundreds of programmers, constantly collaborating to improve Bitcoin's features & security.

So what makes Bitcoin a breakthrough?

It tackles an ancient human dilemma (The Byzantine Generals Problem), & solves a computer science problem.

Any shared information or data can be flawed, corrupted! Anything can be faked!!

How do we know that what we're receiving can be trusted?

In traditional finance, we rely on trusted third parties like Banks, Credit Card Companies, Remittance Services. They keep track of money as it moves from one account to another & they charge us handsomely for it. We TRUST that their digital ledgers of credits & debits, balance.

A financial system that cuts out these middlemen, could be faster, cheaper & more secure!

But Bitcoin is digital. Music & movies are easily pirated, copied, stolen.

How can a digital currency retain value if anyone can make a million copies?

The answer is at the core of Satoshi's invention.

A Bitcoin is not a file on a computer. It's an entry in the publicly distributed database, called:

The Blockchain

Just as the Medici kept a ledger of credits & debits, today's banks record each transaction as a plus & minus in their ledgers. Now we call them databases.

Bank accounts are replaced by a digital wallet that YOU ALONE control.

Bitcoin's ledger is the blockchain. A record of every Bitcoin in existence, & every Bitcoin transaction ever made! It always balances, because no Bitcoin ever leaves it! 

When a Bitcoin is sent, from one digital wallet to another, what they are really sending is control over that part of the database. Code, that is a unique key for the new owner.

As the network processes transactions, it constantly synchronizes the one ledger across the global network. Each computer or "Bitcoin miner" has a complete & identical copy.

& because the Blockchain is public, it cannot be controlled by any one person or computer!

Owners of the Bitcoin mining computers are rewarded with new bitcoins for processing transactions & keeping the network secure.

In other words the Bitcoin network replaces banks 🏢 🏬 🏛 & bankers 👺 🤡 ☠️ 😈

Creating a secure global payment system may just be the beginning…

Patents, contracts, land titles, proof of ownership, can be baked into Bitcoin, securely held in the public ledger.

The digital age has fundamentally changed the world. We have embraced digitized music, film, medical records, communications... The internet!

The free exchange of information and currency can fuel revolutions, help in a disaster. But our money is shackled to the 20th century, manipulated by governments and banks!!

Imagine payments without a middleman, investments without a broker, loans without a bank, insurance without an underwriter, charity without a trustee, escrow without an agent, betting without a bookie, record-keeping without an accountant… Global, secure, nearly instant and free.

This is actually a very powerful protocol. It's not just a currency, but it's actually programmable money.

If you think of Bitcoin as a platform instead of just a currency, then you really begin to see the potential it has.

Is it fantasy? Or the future of money and commerce?

The Byzantine Generals Problem & true “Value” by “Decentralisation”

Keep an eye on these guys:

“One way to say it, would be, we, i think, we now understand better, how little we understand about Inflation.

It's honestly, this was, this was unpredicted…“ - JP - 0:49:35

At lease he was honest, not regarding that it was unpredicted, but that they understand little or nothing about Inflation 🙈

How can we “TRUST” (in my opinion) in “blind People 🧑‍🦯 👨‍🦯 🦮 ” in monetary decisions 🤑 & fiscal policy 💸?

Honest question to you (no need to answer):

Would you “TRUST” to board on a plane ✈️ , ship 🛳 , bus 🚌 , train 🚂 or taxi 🚕 , seeing the pilot 👨🏻‍✈️, captain 🗺 , conductor or driver 🧭 being blind 🙈 & say:

“Yeah, now I understand, that I don’t know s*it about how to fly or drive!!”

👀 🔎 🧐 🤨

Milton Friedman (Nobel Price Winner 1976)

in Economic Sciences on WHO creates INFLATION!

QE, Money Printing & Central Bank Digital Currency

CBDS’s:

“You see, central banks want to be able to give people money directly. Direct monetization.

They can't do that right now. Right now, they print money, goes into the banking system, the banks hoard it because we're going through a credit crunch.

It's also a way for them to kickstart universal basic income, because the central bank can underpin the poorer parts of society by giving them money directly.

It doesn't go on the government balance sheet.

Now, central banks now believe they're omnipotent, that they can continue to expand balance sheets forever.

MMT seems to be the prevalent thought, and this is just an extension of this. This is kind of Keynesianism gone mad.

Central banks can also change entirely the structure of how money and monetary policy works and fiscal policy, because they can give it to different people in different ways.

So they can credit the restauranteur, but then penalize with negative interest rates the Baby Boomer Saver because they want to release their money back into the economy.

They can give students a positive interest rate to help them save. They can change everything.

This is the rise of behavioural economics and incentive systems.

So governments essentially using big data can find who they need to stimulate at any time and adjust accordingly. They can do it dynamically.

This is a structural, massive shift to everything we understand about economics, particularly macro-economics.

Nobody's prepared for this. None of us know what this means. It means and it will be sold on a lot of good things.

And I think there's a lot of good things that come from this. I think it is an elegant solution to some of our problems.

But elegant solutions in governments and central banks lead to unintended consequences.

The issue is here, is to have this new system, you're going to give up your freedom.

You are going to have every transaction you've ever done and ever will do recorded.

There is no cash, there is no way of tipping the gardener unless it goes by cash.

It means that they can tax you at every transaction level. Now that's great. We could get rid of the IRS and all of the tax collection agencies because it could be done directly.

That's good. But again, you've lost your freedom to transact in anonymity that cash gives you.”

Bank of International Settlement - BIS

Basel Committee consults on prudential treatment of cryptoasset exposures - 10 June 2021

Press Release Consultative Document

The Bank for International Settlements (BIS) decided to grant commercial banks to officially hold bitcoin.

BIS plans to capitalize on the popularity of Bitcoin (BTC) despite the market being bearish for the past few weeks & has approved banks to hold up to 1% of reserves in Bitcoin.

Now Governments are blaming Inflation on Supply Issues, War, etc & don’t see / tell the impact of QE’s.

More than 45% of all US Dollar in circulation today, were created since March 2020 (concerning is that the US Dollar is more than a century old (since the founding of the Federal Reserve System in 1913 as the central bank of the United States, the dollar has been primarily issued in the form of Federal Reserve Notes)).

Yes, I have TRUST ISSUES with FIAT, FED, ECB, BIS, European Troika, Central Banks, etc.

Now you understand, Bitcoin is a TRUST Machine!!

Series: Hidden Secrets of Money by Mike Maloney

“We are entering a period of financial crisis that is the greatest the world has ever known. The wealth transfer that will take place during this decade, is the greatest wealth transfer in history. Wealth is never destroyed, it is merely transferred and that means that on the opposite side of every crisis, there is an opportunity.

The great news is that all you have to do to turn this crisis into your great opportunity, is to educate yourself. I believe that the best investment that YOU can make in your lifetime, is YOUR OWN EDUCATION, education on the history of money, education on finance, education in how & who creates money, education in the difference between currency and money, education on how the global economy & central banking works & how they can cheat you, how they can scam you, day by day…

If you learn what is going on and how the financial world works, you can put yourself on the correct side of this wealth transfer. Winston Churchill once said that, the further you look into the past, the further you can see into the future.

Being able to gaze into the future. Being able to change this crisis, the greatest crisis in the history of mankind, into your great opportunity.” - Mike Maloney

Central Banks = Paracites 🦠

Their unrealized losses are way bigger than that, but unlike normal banks, the Fed can't be forced to sell FED realize a loss. & if they do realize a loss it's like the bank in Monopoly.