Cryptocurrencies could work, I suppose, if a cap is imposed on the amount one can own.
Otherwise, the bankster elites will simply buy up inordinate amounts of cryptocurrency and basically maintain the existing wealth disparities and power plays ... only this time, adding a layer of electronic legitimacy to the existing fiat money supply.
But if a cap is imposed, say, a million units of cryptocurrency per person ... then only can the people begin to wrest control of finance and commerce away from the bankster elites.
As cryptocurrency currently exists ... it can only extend the existing money frauds and inequitable distributions..
Pax
You're an even bigger Cryptotard than first thought!
Look, Peeps, Andy had a first thought. Wonder if he'll follow up with a second ... hmm.
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I also find it very odd that your calling for a cap on Crypto's, if you new anything about history Uncleshill you'd know that all of the world's financial depressions were caused by the control of the currencies quantity not what it was or what backed it.
The world's problems were caused by currency concentration ... which tandems with power concentration. The cap is a rational measure to curb currency concentration at all levels. If a cap is imposed instantaneously, say, then the biggest sharks would have to surrender their cash assets down to the cap number immediately ... and the smallest minnows would still be faced with the task of earning up to the cap number.
With the starting point of a new paradigm in place, those who manage to make more than the cap number would be given a month or so to convert the excess currency into hard resources (to get below the cap number). If they should fail to do so, then the excess currency would be dissolved and/or repatriated with the common treasury. This way, there would be incentive to produce even if one reaches the cap number ... for production will offer a month or so to convert excess currency to hard resources. This is a general template to be ironed out.
In any event, previous attempts at capping were either insincere ... or mismanaged to the point of dysfunction. The pyramid architecture being responsible for the dysfunction. Planarize things, and have multiple checks and balances in place ... and capping becomes less the utopic unicorn and more the essential mule for a viable socioeconomic system.
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Britain used simple Tally sticks for seven hundred years which are a crude form of Cryptocurrencies and became one of the most prosperous country's of that period!
Tally sticks were not a cryptocurrency. They were a recognized regional currency, like Colonial Scrip was in the colonized states of America. You can use anything as a recognized regional currency .. even an I.O.U. note ... but that doesn't make it cryptocurrency. I think you need to read up on the subject matter, Andy. It'll assist you in not making asinine statements.
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Cyrptocurrency Pros: 1- Money creation is put back into the hands of the people.
How was the first Bitcoin minted? The first Quark?
Someone claiming to have connections with the people - minted the stuff from thin air ... then used the conversion bridge from established currencies and established resources to attempt legitimacy. That makes claims of peoples' creation dubious at best. Conversion is not creation. Not for energy; not for currency.
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2 - Fractional reserve lending is not possible with Cryptocurrencies
Corrupted System A (CSA) may have N elements. Corrupted System B (CSB) may have (N-1) elements. That fractional reserve lending may be absent from CSB, does not negate CSB's inherent corruptions. Indeed, as indicated previously, conversion merely translates the original corruptions to a fresh apparently legitimate system. Appearances are just that. What is actually happening beneath the appearances is nothing short of money laundering. One way to stop the money laundering is to prohibit the conversions from existing currencies. That's just a starting point. To be legitimate, cryptocurrencies must emerge from the starting point ... still, even after that, many conditions and considerations are required before cryptocurrency can be a legitimate current in the money field.
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3 - Banks are no longer needed as anyone with a smartphone/pc can store or transfer there own Crypto's.
A standard of exchange is required before a collective has the confidence to invest in the exchange. The people will not invest unless there is a clear secured standard that emerges. And a clear secured standard cannot be maintained by the hoi polloi (which consists of both law-abiding people and criminals). Just not possible. There has to be a centralized authority to maintain a clear secured standard. But this authority has to be accountable to the people. The current centralized authority is not.
Also, scale has to be considered. One grand centralized standard is too powerful. One world cryptocurrency would be too powerful. So the solution lies in regional cryptocurrencies, maintained regionally. Eddies over whirlpools, as it were. That is, if such cryptocurrencies emerge form the starting point previously discussed.
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Cyrptocurrency Cons: Please feel free to fill this section in Uncleshill.
Conversion of an existing set of fiat currencies (and attending fiat wealth inequities) ... to new cryptocurrencies ... is not a solution but money laundering at its essence.
Checkmate.
Close the door on your way out.
Pax
_________________ Flight that sends into the clouds brings wings to rest upon the boughs. Then further down to the liquid lawn, to serve as sentries for the gliding swan. Curve, a perfect turning of the line between here and Heaven, with extensions into infinitum.
Cryptocurrencies could work, I suppose, if a cap is imposed on the amount one can own.
No. You're very close, dancing right around the truth. Money could work, if a cap was imposed on the amount of wealth one can accumulate. As you point out, it is the disparities of wealth (and power) that undermine the human condition.
Look, Peeps, Andy had a first thought. Wonder if he'll follow up with a second ... hmm.
That's not a thought, that's just character assassination. OK, I suppose it could be a retarded thought, if you want to get technical. I expect better from a recognized sociopath, however.
Tally sticks were not a cryptocurrency. They were a recognized regional currency, like Colonial Scrip was in the colonized states of America.
It would be more accurate to think of tally sticks as a form of verifiable record-keeping. Splitting the tally stick provided the verification in the form of a matching copy.
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The split tally was a technique which became common in medieval Europe, which was constantly short of money (coins) and predominantly illiterate, in order to record bilateral exchange and debts. -- source
Someone claiming to have connections with the people - minted the stuff from thin air ... then used the conversion bridge from established currencies and established resources to attempt legitimacy.
Quite right!! That is a critical point in understanding the scam, and one that I often expressed on the Quark forum, which Andy ignored, as is his habit. The creators of the crypto-currency always start out with the bulk of the currency! The wealth is concentrated from the start. Money can never work for the benefit of all when it is concentrated in the hands of the few.
To be legitimate, cryptocurrencies must emerge from the starting point ... still, even after that, many conditions and considerations are required before cryptocurrency can be a legitimate current in the money field.
Agreed. To really be legitimate, money should emerge from the service of the people in service to the people. Humanity has never had money like that, which is why we are so screwed up, backward, and retarded to the point of being considered insane.
The fact that Bitcoin has been stolen regularly (skimmed) for quite some time from the Mt. Gox exchange adds to the evidence that its security is not up to the public hype.
This statement from you is just pure spin, all it proves is that Mt.Gox's security is not up to the public hype!
Bitcoin's cryptography (SHA-256) has been reported to have been compromised during the design phase by the NSA, which was leading the work on setting the encryption standard. The NSA often contributes to encryption standards, and the reason why is obvious.
Bitcoin's code has been in existance for six years and has been yet to be compromised, if you have proof the contrary please present it!
The desperate spin tactics are clearly yours, as evidenced by your post and your blatant tactics.
You're busted, and you can take all the credit for it, as you are your own worst enemy. I don't even need to give you any rope, and you still manage to hang yourself. That's a real talent, Andy. I applaud your performance.
_________________ It's not that we can't handle the truth. It's that they can't handle us if we know the truth.
The desperate spin tactics are clearly yours, as evidenced by your post and your blatant tactics.
You're busted, and you can take all the credit for it, as you are your own worst enemy. I don't even need to give you any rope, and you still manage to hang yourself. That's a real talent, Andy. I applaud your performance.
This is true because?
I see that you only responded to the title but not to the points I made, why is this?
_________________ Think twice before you speak, especially if you intend to say what you think.
The fact that Bitcoin has been stolen regularly (skimmed) for quite some time from the Mt. Gox exchange adds to the evidence that its security is not up to the public hype.
This statement from you is just pure spin, all it proves is that Mt.Gox's security is not up to the public hype!
Bitcoin's cryptography (SHA-256) has been reported to have been compromised during the design phase by the NSA, which was leading the work on setting the encryption standard. The NSA often contributes to encryption standards, and the reason why is obvious.
Bitcoin's code has been in existance for six years and has been yet to be compromised, if you have proof the contrary please present it!
This thread has become obfuscated so lets redirect it.
Andy has shown by exhibit on this board, the inability to find human meaning with sociological virtues. As an example of virtues, the second amendment of the Bill of Rights and the issuance of human value to money.
Andy cannot track, nor prioritize, what is moral with human value. He states digital currency is and precious minerals is a lie. When mans own value and identity is being assimilated by a technocratic hive mind, which way should you go?
Identity, personal value and freedom take precedence. And precedence is exactly what were talking about. The cart before the horse.
Andy's understanding of the Bill of rights second amendment is on the Adam Kokesh thread.
So by display our very own Andywight has volunteered to exhibit what happens when intelligence creates without wisdom.
A very dangerous pair...
_________________ Therefore be as shrewd as snakes and as innocent as doves.
The cap is a rational measure to curb currency concentration at all levels. If a cap is imposed instantaneously, say, then the biggest sharks would have to surrender their cash assets down to the cap number immediately ... and the smallest minnows would still be faced with the task of earning up to the cap number.
This is just non-sense, so what happens to the wealth above this cap limit?
Isn't this exactly what happened in Russia in the early part of the 20th century?
With the starting point of a new paradigm in place, those who manage to make more than the cap number would be given a month or so to convert the excess currency into hard resources (to get below the cap number). If they should fail to do so, then the excess currency would be dissolved and/or repatriated with the common treasury. This way, there would be incentive to produce even if one reaches the cap number ... for production will offer a month or so to convert excess currency to hard resources. This is a general template to be ironed out.
In any event, previous attempts at capping were either insincere ... or mismanaged to the point of dysfunction. The pyramid architecture being responsible for the dysfunction. Planarize things, and have multiple checks and balances in place ... and capping becomes less the utopic unicorn and more the essential mule for a viable socioeconomic system.
Would this be the same Planarized system that you claimed existed at Richard's & Celine's forum?
I understand that you're somewhat challenged by computer tech and mathematics Uncleshill but the principles are the same, which is why I said they were a "crude form"
Two pieces of a unique digital algorithm used to store value as opposed to two pieces of a unique stick used to store value.
They were a recognized regional currency, like Colonial Scrip was in the colonized states of America. You can use anything as a recognized regional currency .. even an I.O.U. note ... but that doesn't make it cryptocurrency. I think you need to read up on the subject matter, Andy. It'll assist you in not making asinine statements.
Thank you for your concern Uncleshill, but Crypto's and Tally's are both impossible to counterfeit, unlike Colonial Scrip which was undermined by British counterfeiters and failed shortly after!
You seem to be as clueless about history as you do about Cryptocurrenies Uncleshill!
Someone claiming to have connections with the people - minted the stuff from thin air ... then used the conversion bridge from established currencies and established resources to attempt legitimacy. That makes claims of peoples' creation dubious at best. Conversion is not creation. Not for energy; not for currency.
I am presently creating three different types of Cyrptocurrency at home, are you saying that not a person? I suggest you tell the owner of Overstock.com or Richard Branson about your concerns.
Corrupted System A (CSA) may have N elements. Corrupted System B (CSB) may have (N-1) elements. That fractional reserve lending may be absent from CSB, does not negate CSB's inherent corruptions. Indeed, as indicated previously, conversion merely translates the original corruptions to a fresh apparently legitimate system. Appearances are just that. What is actually happening beneath the appearances is nothing short of money laundering. One way to stop the money laundering is to prohibit the conversions from existing currencies. That's just a starting point. To be legitimate, cryptocurrencies must emerge from the starting point ... still, even after that, many conditions and considerations are required before cryptocurrency can be a legitimate current in the money field.
So you agree, but a commendable attempt to spin my statement in another direction!
A standard of exchange is required before a collective has the confidence to invest in the exchange. The people will not invest unless there is a clear secured standard that emerges. And a clear secured standard cannot be maintained by the hoi polloi (which consists of both law-abiding people and criminals). Just not possible. There has to be a centralized authority to maintain a clear secured standard. But this authority has to be accountable to the people. The current centralized authority is not.
There you go again, why are you so obsessed with "centralized authority"? It's time to kick off your shackles Uncleshill!!!
Also, scale has to be considered. One grand centralized standard is too powerful. One world cryptocurrency would be too powerful. So the solution lies in regional cryptocurrencies, maintained regionally. Eddies over whirlpools, as it were. That is, if such cryptocurrencies emerge form the starting point previously discussed.
Now you're just contradicting yourself and again exposing your ignorance on this subject, there are already hundreds of different Cryptocurrencies and more being developed all the time.
Conversion of an existing set of fiat currencies (and attending fiat wealth inequities) ... to new cryptocurrencies ... is not a solution but money laundering at its essence.
Checkmate.
Close the door on your way out.
Maybe in the fantasy world of Unclesill
_________________ Think twice before you speak, especially if you intend to say what you think.
This thread has become obfuscated so lets redirect it.
Andy has shown by exhibit on this board, the inability to find human meaning with sociological virtues. As an example of virtues, the second amendment of the Bill of Rights and the issuance of human value to money.
Andy cannot track, nor prioritize, what is moral with human value. He states digital currency is and precious minerals is a lie. When mans own value and identity is being assimilated by a technocratic hive mind, which way should you go?
Identity, personal value and freedom take precedence. And precedence is exactly what were talking about. The cart before the horse.
Andy's understanding of the Bill of rights second amendment is on the Adam Kokesh thread.
So by display our very own Andywight has volunteered to exhibit what happens when intelligence creates without wisdom.
A very dangerous pair...
And this is true because?
_________________ Think twice before you speak, especially if you intend to say what you think.
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More desperate attempts at spin! 
