Role of Crypto/Cybercurrencies in the PTB's loss of control?

[Ryan]

It's pretty much the same with cryptos from that perspective - if peeps couldn't be sold on the idea of expending energy on them then they'd have no value.

The US dollar itself is not evil, but what and how it is used IS often evil.

Exactly. Money is a technology. Nothing more, nothing less. Like all technology, it can be used for good or evil.

Obviously there are scams in crypto, just like there are scams in the world of fiat currency. I agree that Tether has a very shady legal and accounting history. But it's much more likely they've simply grown far faster than they expected and have been thrust into regulatory challenges in a mainstream banking and investment environment that has been outright hostile to cryptocurrency. In Jan 2019, Tether's market cap was only about $2 billion; it's now >$80 billion. That kind of growth is almost unprecedented. Despite some of their ethically-questionable behaviour during their explosive growth, there's no outright evidence they intended to scam people from the beginning. Here's an recent article showing the mainstream financial media's view of Tether:

Bloomberg - Are you a robot?

It's also worth noting that Tether's main competitor, USDC, grew from ~$260 million to ~$50 billion in the same timeframe. They're registered in the US and have been focused on regulatory compliance from the beginning. I would expect that unless Tether sorts its regulatory situation out (which it appears to be doing), it's likely that a lot of people will start shifting their assets across to USDC, as most exchanges support both coins these days. But the bottom line is that neither of these coins are as vulnerable as LUNA/UST was, being fully collateralized coins.

As @Scottie has pointed out before, and has been discussed on this thread, the current banking infrastructure can do pretty much everything a CBDC requires. With the US government having full regulatory control over USDC, and likely soon USDT, that means a large portion of the crypto market cap will basically be an extension of the USD. So expect to see the Wall St financial raiders like Citadel et al start targeting Bitcoin, Ethereum and other coins to scare investors out of USD alternatives.

Given Bitcoin's infrastructure resilience, it's not out of the realms of possibility that there could be an NSA/CIA attack at the cryptography level, but it's more likely that the Consortium has been buying up large positions in both Bitcoin and Ethereum to manipulate the market in the same way they've been suppressing the gold price. With more nations announcing support for Bitcoin payment mechanisms though (even Chinese courts seemingly reversing their position on Bitcoin holdings for citizens), it's possible that such market manipulation will fail, especially with the mounting economic pressure on the USD from Russia and China via the traditional financial system. If the value of the USD collapses, the Consortium's stablecoin leverage against other cryptocurrencies won't be worth squat. So, I guess we'll see.

In the end, all money is basically hot air. So, again, make money if you can, but never forget that ultimately, it's all an illusion for the purposes of control.

Yep. Vast wealth is only meaningful if they can be used to move yourself and others into a realm where Free Will for All reigns supreme.

 

[DreamGod]

Nope. It's nonsense to equate the dollar to scam crypto tether. The Cs warned about bitcoin's purpose to deprive common man of resource, and luna this week has done just that.

It was "designed originally" for that, it doesnt mean it cant change in something better or usefull, remember that miscalculation have been made

 

[DreamGod]

I think the point is (or should be) that any monetary system is kind of dumb. Well, they can be useful, but historically, they aren't used for the benefit of everyone.

I grow food. You make mud bricks. We both do work to create something, requiring time and energy. We then exchange mud bricks for food. DONE!

But wait, what if we each sold our product for a piece of Official Paper? We would need a source of Official Paper, hence banks. But wait, if we made it so that people could store OP in our bank, why would they want to? Interest! Okay, but how do we get interest? Loans! Hang on... That means banks would need to magically and officially be able to multiply money. Hmm. We'll just create a SuperBank that makes the rules, and says normal banks can do that. And of course the SuperBank will also make money... not by actually doing anything real or productive, but because everyone agrees that it's a good idea.

It's a little more complicated than that, but you get the idea.

The US dollar itself is not evil, but what and how it is used IS often evil. Dollars are not real money, because the very phrase 'real money' is an oxymoron. Or maybe more accurately, the idea of money itself is simply a creation for controlling the masses to the benefit of a very few. This is very hard for us to accept I think because as soon as we can talk and move around, we quickly learn that you have to pay for stuff with money and you can't just grab that colorful box of Fruit Loops off the shelf.

That said, SOME system is probably needed because unless Jesus descends and brings Heaven on Earth, this is still good old 3d Earth.

It seems that right now, the Old System is collapsing, and a New System is taking shape. That may include digital currencies or cryptos, or maybe not. It may include a gold-backed ruble, or maybe not. We'll see.

But even with a gold-backed basket of currencies like the Russians talk about, it's not that gold makes it better or magical. Gold is valuable because we agree that it is. There are shinier metals, heavier metals, better electrical conductors, etc.

The difference in this case IMO is that gold-backed is also linked with a different political outlook, a different social outlook, and other differences as compared to the old Western System.

Should they succeed, there is no guarantee that this New System won't also become corrupted. Putin may be awesome, but imagine the next Russian president as a psycho - now with thousands of hypersonic warheads. Oops!

In the end, all money is basically hot air. So, again, make money if you can, but never forget that ultimately, it's all an illusion for the purposes of control.

Said like a true prodigy, very good Scottie

 

[Cosmos]

A pointed expose from Gonzalo about the Crypto business and why he thought it was BS right from the get-go and why it is collapsing in the face of reality:

 

[seeker of light]

Hi All,

I was pondering Bitcoin and cyber/cryptocurrencies today and wondered if it would be possible to ask the C's some questions about them? Here's a few that came to mind:

Is Bitcoin 4D STO technology, or based upon STO principles?
Do Bitcoin and other cryptocurrencies have a role to play in causing the 'elite' to lose control of the planet?
Was computer security expert David Kleiman, "Satoshi Nakamoto"?
Is Elon Musk promoting cryptocurrencies because he knows they are a 'thorn in the side' of the PTB?
Is "Tether" a sort of 'trojan horse' for a digital US dollar?
Are legitimate cryptocurrency projects a good form of investment?
Are major cryptocurrencies likely to protect wealth through any coming economic downturn?

What do other people think? Anyone have any additional ideas on this subject?

Dear All, I believe the C's were asked recently and the answer was Bitcoin was a CIA construct, please someone confirm, that being the case you have an answer.

 

[Ryan]

why he thought it was BS right from the get-go

TLDW; It's BS because nobody can force you to buy Bitcoin, therefore demand can never be guaranteed.

Pretty simplistic, black and white view of the situation if you ask me. Interesting that he acknowledges that people have committed suicide over the LUNA/UST debacle and then goes on to display quite a gleeful level of schadenfreude. Quite un-Gonzalo-like, or maybe not.

An alternative perspective: seems like the Universe gave him a huge opportunity to improve the circumstances of his life and he chose to look the other way out of ignorance. Hope he's enjoying reporting from a warzone rather than living it up on that tropical island he could have owned. As Gurdjieff said, some people truly don't wish to give up their suffering.

 

[Pierre]

The cryptocurrencies are crashing. Here is a chart from 2 days ago:

 

[Persej]

An alternative perspective: seems like the Universe gave him a huge opportunity to improve the circumstances of his life and he chose to look the other way out of ignorance. Hope he's enjoying reporting from a warzone rather than living it up on that tropical island he could have owned. As Gurdjieff said, some people truly don't wish to give up their suffering.

You are now the one who is displaying quite a gleeful level of schadenfreude.

 

[Ryan]

You are now the one who is displaying quite a gleeful level of schadenfreude.

Fair call. I guess it annoys me when so-called truth seekers start calling naive investors "b*tches" under the mistaken assumption that they're all out to 'topple the fiat system', when really the vast majority of people in crypto are just ordinary folks trying to make some extra money.

 

[hlat]

Dear All, I believe the C's were asked recently and the answer was Bitcoin was a CIA construct, please someone confirm, that being the case you have an answer.

(Mike) In general, who is the person (or people) that created Bitcoin?

A: CIA.

Q: (L) Well, alright.

(Mike) For what purpose did they initially create Bitcoin?

A: Bridge to nowhere.

Q: (L) What do you mean, "Bridge to nowhere"?

A: Digitize, and then deprive common man of resource.

 

[gottathink]

Does anyone know anything about the Yuan-coin, the Chinese cryptocurrency? Has it been adopted by the central Chinese bank?

 

[luc]

A pointed expose from Gonzalo about the Crypto business and why he thought it was BS right from the get-go and why it is collapsing in the face of reality:

I think that Gonzalo makes some good points here. While I think "good for them" when people make money off crypto, and it's tragic when people lose it, this shouldn't distract from recognizing how utterly, completely insane the whole thing is.

The whole situation reminds one of the (early) 1920s in Germany that Sebastian Haffner describes so well in Defying Hitler: all of a sudden, all these kids started making BIG money on the stock exchange craze, which turned the whole social order upside down: they were getting rich while their parents and grandparents struggled, and ended up feeling superior, bossing around their elders etc., which among other things led to moral degradation. A complete subversion of the natural order. And of course these were riches that came from nowhere, completely unhinged from the natural laws of energy transfer, from real work, and real value. No wonder the whole thing crashed eventually, which caused further societal catastrophe.

We all know what came next...

It's similar now: I cannot help but detect a certain fanaticism, a religious fervor among some in the crypto crowd. Like those kids in the 1920s, they think they can revolutionize the system, turn the natural order upside down, create their own world unhinged from reality. Combined with the old deception of "money for nothing", this is a very dangerous path.

Say what you will about fiat currency, but it is intrinsically connected to the real world, to paying taxes, to buying stuff, to holding together a nation, and a representation of real-life work. Yes, this has been corrupted too for a long time, but the connection at least is still there. With the crypto bros (I mean the more fanatical elements), it's more like the old juvenile dream of proving the laws of the universe wrong, and in that sense the Cs are right IMO in calling it a "bridge to nowhere".

 

[gottathink]

Say what you will about fiat currency, but it is intrinsically connected to the real world, to paying taxes, to buying stuff, to holding together a nation, and a representation of real-life work. Yes, this has been corrupted too for a long time, but the connection at least is still there.

Unfortunately those efforts are not able to keep up with inflation. The hard earned dollar does not go very far so people have been forced into finding a way to increase the yield from that one earned dollar. I can imagine that a certain desperation in trying to get established in life could be driving the crypto investment wave. The latest I am seeing advertised is in the Chinese Yuan-coin. With the others crashing is this going to be the next fanatical investment?

 

[Pierre]

The cryptocurrency market looks like a bloodbath. Here is the chart of Bitcoin over the past year:

 

[Aeneas]

The cryptocurrency market looks like a bloodbath. Here is the chart of Bitcoin over the past year:

Good call. Today that bloodbath is only accelerating with many down 10% or more so far.
The upcoming planned mixed resource based currency basket promoted by Glazyev, is likely to attract interest when launched. Escobar made an interview with him back in April.

Exclusive: Russian geoeconomics Tzar Sergei Glazyev introduces the new global financial system -- Sott.net

The world's new monetary system, underpinned by a digital currency, will be backed by a basket of new foreign currencies and natural resources. And it will liberate the Global South from both western debt and IMF-induced austerity. Sergey Glazyev...

www.sott.net