Cryptocurrency, The NWO Money System.

[GLP_zenfu]

Hi all,

In this thread I am going to explain (as best as I possibly can and without breaking rules), what Cryptocurrency is, and what is currently underway and has been for quite some time.

To start off, the Cryptocurrency "Bitcoin" shall be explained, and from there I will leave the rest to your research and digging up. I greatly apologize ahead of time to the mods and admins if this is taboo. I cannot message anyone to see, so if I do get banned, my apologies for causing any of you problems.

To start:

Bitcoin was created by a pseudonymous person by the name of Satoshi Nakamoto. No one knows (at least in the Bitcoin Community) who he really was. All they know is he was the creator of this currency.

Nakamoto claimed that he had been working on Bitcoin since 2007. In 2008, he published a paper on The Cryptography Mailing List at metzdowd describing the Bitcoin digital currency. In 2009, he released the first Bitcoin Software.

To quickly explain bitcoin, it is a decentralized digital currency based on software protocol by Satoshi. It is subdivided into 100 million smaller units called satoshis. It is created by a process called Mining, which is explained in the link below, and the difficulty of mining ranges depending on the systems being used. The difficulty, plus the market decide it's worth essentially.

If you want to know more about Bitcoin and everything to do with it, read here: http://en.wikipedia.org/wiki/Bitcoin

Now I know some of you may be confused as to why I titled this as the NWO Currency.

The main things you NEED to know about this currency:

1) 1 Bitcoin is currently valued at $13.00 USD. (It hovers around here mostly). So it is, another fiat currency, but one that cannot be over inflated, at least not yet.
2) It is a nationally accepted currency for all sorts of things. As of right now it is mainly used for purchases on websites I will not name here, but there are black markets of sorts. It is also used to Proxy ones purchases. You can buy someone elses coins, which has another IP attached to it, thus making it near impossible to trace if you were to mix up your coins over and over.
3) It is peer to peer. No centralized bank, issuer or anything of that sort.
4) There are only so many bitcoins allowed in existence. Period. Satoshi made sure of this. However, now that the Feds have their eyes on it, (if they didn't for a while), who is to say it won't go bad.
5) In the community, one of the main developers and mods presented the concept of bitcoin and its counterparts to the Feds. http://www.youtube.com/watch?v=Fv4q4i2Ktd0
6) Non TAXABLE

One of the biggest concerns I have with this, is number 5.
Recently, the community has been buzzing with alternatives to bitcoin. Litecoin is the only one with some sort of success, while the newest one "Freicoin" screams of socialism.

Also, lately I have noticed a great deal of activity with the Gov on this concept. And a few companies that have come up from the ground, stink of Fed.

I foresee this becoming a world currency, should it continue the way it is. I know I kind of jumped around on this, but I cannot message a Mod to see if this was cool to post, so hopefully I don't get banned for bringing some much needed attention to this issue.

All you have to do is google search this, and you will find loads of information on it, and the current uses, as well as the attention it is bringing. The Occupy Movement is heavily involved in this as well, if that raises any alarms for you. What better way to move a cryptocurrency into place, that is nationally accepted and untaxed and untraceable by the common person, than by saying "oh look, underground currency that the government can't control, tax or trace." I wonder how many people who were in Occupy will get into this with that in mind.

Not to mention the concept that you do NOTHING. Mining is merely a process done by your computer as it sits there, meaning if you were producing even 5 bitcoins a month, you'd be making 70 bucks a month for leaving your computer on.

All in all, I hope that you all find this informative and hopefully it leads you to some more information that you find useful.

[01BTC10]

Not to mention the concept that you do NOTHING. Mining is merely a process done by your computer as it sits there, meaning if you were producing even 5 bitcoins a month, you'd be making 70 bucks a month for leaving your computer on.

Actually when mining the computer is burning higher amount of electricity then usual. Most people around the world are breaking even or losing money after they pay their electricity bill. Then you also need to consider hardware cost, accelerated wear and loss of normal everyday computer usage.

[drakahn]

Hi all

Hi,

Bitcoin was created by a pseudonymous person by the name of Satoshi Nakamoto. No one knows (at least in the Bitcoin Community) who he really was. All they know is he was the creator of this currency.

He/She/They know who they are.

Now I know some of you may be confused as to why I titled this as the NWO Currency.

Very, the NWO of legend would prefer something they could print at will, wouldn't they?

1) 1 Bitcoin is currently valued at $13.00 USD. (It hovers around here mostly). So it is, another fiat currency, but one that cannot be over inflated, at least not yet.

It doesn't hover anywhere long term, it hovered at $5 less than a year ago, and is not at all 'fiat'
Fiat money is money that derives its value from government regulation or law

4) There are only so many bitcoins allowed in existence. Period. Satoshi made sure of this. However, now that the Feds have their eyes on it, (if they didn't for a while), who is to say it won't go bad.

We are to say it won't

6) Non TAXABLE

Very hard to force taxation, but it is of course taxable should the holder decide they are.

Not to mention the concept that you do NOTHING. Mining is merely a process done by your computer as it sits there, meaning if you were producing even 5 bitcoins a month, you'd be making 70 bucks a month for leaving your computer on.

Hardware, Electricity and Time are all valuable and are all used up in the mining process

[21after2]

6) Non TAXABLE

Not true. At least not in the US. You're taxed on all sources of income, regardless of what currency it's in.

[DannyHamilton]

. . . Bitcoin was created by a pseudonymous person by the name of Satoshi Nakamoto . . . To quickly explain bitcoin, it is a decentralized digital currency . . . It is subdivided into 100 million smaller units . . . It is created by a process called Mining . . . 1 Bitcoin is currently valued at $13.00 USD . . . it . . . cannot be over inflated . . . It is . . . accepted currency for all sorts of things . . . It is peer to peer . . . one of the main developers and mods presented the concept of bitcoin and its counterparts to the Feds . . .

I trimmed it down to the things that you said which were true, and cut out the stuff where you repeated yourself.

The rest was either not true, wild speculation, or repetitive.

[BurtW]

GLP_zenfu,

Nice first post.  Looking forward to more enlightening posts from you in the future.

How long have you been studying Bitcoin?

Where did you get all your information?

[goldnugget007]

Thanks OP  interesting read

[Stephen Gornick]

I foresee this becoming a world currency, should it continue the way it is.

Would gold be considered a world currency?

The Occupy Movement is heavily involved in this as well, if that raises any alarms for you.

Well Occupy was generally not liking Bitcoin.  The NYC GA was accepting Bitcoin donations for a bit but there was no push to get behind it.  And there are others in the Occupy movement quite vocal against it:
 - http://occupycorporatism.com/globalist-controlled-bitcoin-becomes-bank-supported-by-technocrats/

Now I know some of you may be confused as to why I titled this as the NWO Currency.

Very, the NWO of legend would prefer something they could print at will, wouldn't they?

Exactly.  NWO power comes from a concentration of wealth and governance -- centralization.  Bitcoin is like kryptonite to them.