The Great Crypto Game

The Great Crypto Game
14 August 2019

Make no mistake in your understanding of what Bitcoin is.
Bitcoin is a criminal Trotskyite constract.
Worse than foodstamps, and not better than a wooden nickel.
Criminal why?
The “Dark Web” accessable with its Tor browser (conceived by the NSA)
was the first sign of people’s desire for more privacy.
The black markets operating on it, like Silk Road before being closed down, transacted 9.9 million in bitcoin worth about $214 million.
Why bitcoin ?
Because they have used “tumbling” services to dissociate bitcoins
from identification. For your tumbled bitcoins you could buy guns,drugs,
and counterfeit currency.
In 2016 the Panama Papers were released, and as a result more than $1.2 billion around the world have been recovered in back-taxes and penalties.
Ouch.The rogue offshore finance industry had to rethink its game.
And in the boardrooms “crypto currency” was the word. If you can’t even
trust a Panama based law firm like Mossack Fonseca, who can you trust.
A usb stick size hardware wallet in your packet, with your fortune on
it in crypto currency is the go to.
This just in this morning from
“Whale Alert, one of the major virtual asset transaction trackers recently notified that a total of 18,797 BTC, worth about $213 million was transferred from unknown wallet to unknown wallet over two different transactions.”
May I call your attention to the “unknown wallet”.
Is it safe ? Is it secure?
The news-“Binance says more than $40 million in bitcoin stolen in ‘large scale’ hack” or-“Bitpoint Exchange Hacked for $32 Million in Cryptocurrency”
And the sad news- “The Cryptopia Nightmare Drags on as Liquidators Struggle to Reimburse Hacked Users”
The introduction of Bitcoin to most people takes place on the internet
in the form of BTC faucets, where you can “claim” satoshis.
Each bitcoin is equal to 100 million Satoshis. You can claim 10 to
100 satoshis at a claim. Go figure. While you are hopelessly collecting your
fortune in satoshis the website will use your computer in the background
to mine BTC. If this wasn’t enough,the satoshis you collect have a minimum
withdrawal limit,and by the time you could possibly collect enough to
withdraw it the website will disappear,or if your satoshis accumulate
into a microwallet, they will be out of coin, and there is nothing
you can do about it.
Most of these websites have a gambling den attached to them where you
can deposit BTC and gamble away your hard earned money, if there
is any left after you pay the fee for changing your $USD into BTC.
While you are gambling there is a chat section on the site where the
site owner’s bots are making outrageous claims like -xyz just won 500000
Feels like you are in Monte Carlo. Everyone’s a winner baby.
But also online casinos made the switch from fiat to BTC and according to
Wilma Woo, Apr 11, 2017 “Cryptocurrency gambling is traditionally thought of as a marginal industry; in fact, it has earned 3.7 million BTC in less than three years” and growing.
The scams and promises multiply by the day, from BTC robots making
you a millionaire in a month, to investing your money with the specially
selected traders to get 130 to 300 percent return on your investment in
no time.
Here I also like to mention ICO’s (initial coin offerings).
These scams almost always involve some kind of service that is in
urgent need of “streamlining” and its payment system needs to be
digitally encrypted. Then the associated coin is named -lets say
“PIMPLE”, and the scammers release a “White Paper” describing why “PIMPLE” is so good, and how it will change our life for ever,
for the better. And under great fanfare on a certain date and hour
a limited amount of PIMPLE get released. The initial investors
will get PIMPLE -now a digital crypto currency, and if they are
lucky they can store it in their “PIMPLEWALLET”. So what if the investment
of people, now called the market capitalisation, only got a few thousand
dollars, now comes the theatrics on facebook, twitter, reddit, where
the scammer tries to make a name for him or herself and PIMPLE.
Initially PIMPLE’s price is low -1 PIMPLE=0.000000032 US$.
It gets worse, and PIMPLE gets delisted, and not any of the flying
white papers are going to get it back, or the investor’s money.
There are 2680 crypto currencys listed.
Decentralisation? Anyone?
Peer to peer networks were the domain of geeks. The everage person just happily surfed the net, used gmail, googled everything, and clicked on
the AVG update.
Tech companies were happy, they were harvesting our data, profiling us,
and making heaps of money.
All that ended with the revelations about Cambridge Analytica, Facebook, Google -to name a few profiling us.
The Blockchain, birthplace of Bitcoin and all the noise about
decentralisation, promises to be better than sliced white bread.
First up the central authority the U.S.-based Internet Corporation for Assigned Names and Numbers, or I.C.A.N.N., which controls the distribution of domains. Then the domain registrars. Then your service provider.
Consensus driven decentralised network issued manifestos read like Marxist
propaganda, uptake is small. It is also a trust issue.
Utopia. Really? The same venture capitalists who supported google,
facebook, twitter, the clouds, are now pouring money into “decentralisation”.
Instead of holding them accountable for harvesting all of our data 24/7,
the reaction advocated by the proponents of Blockchain, Cryptocurrencies,
is decentralisation. Is this going to be a centralised decentralisation,
or a decentralised decentralisation. Blocks of flavours like icecream.
Keep’em separated as the song goes.
One thing is for sure, this is not going to be Libertarian socialism.