Tag: bitcoin

American employees of the government and the banks try to undermine BTC.

They will fail because  1000+ hours of education explains why. . . .

@saylor The vast majority of public policy creates stagflation and there is little that you can do to change this. What you can do is buy #bitcoin and work hard to generate income so that you can until the rest of the world realizes that BTC is the best global store of value asset.

Jason Lowery:

Paul Niquette, inventor of the word “software”
“The word ‘programming’ was serviceable enough, of course. Renaming it ‘software’ did more to assure my reputation as an eccentric than to illuminate computer technology.”
“The first step in creating safer software-controlled systems is recognizing that software is an abstraction…”
– Nancy Leveson (global expert in software engineering & systems security)

It doesn’t matter if ETH/BTC market cap is >1 or <1.

The fact that ppl care about the value of ETH in terms of how much BTC it’s worth is what matters.
When the base layer collateral network breaks we have two options: reset the ledger & re-establish zero-trust control over resources using kinetic power (hard war), or using electric power (soft war). The protocol goes through great lengths to throttle difficulty to maintain consistent time-to-solve hash function. bit coins represent the energy expended over that time to solve the hash function. Energy over time is called POWER. Bad form to ignore time when representing cost. A bit “coin” is a receipt for suffering the REAL WORLD cost (in watts) of solving Back’s hash function. By demanding BTC as collateral to send info or execute an operation, you impose real-world physical cost on people in, from, & through cyberspace. That is HUGE for security. IDK who needs to hear this, but just b/c u can program a general-purpose state machine to behave like u would imagine an imaginary object would behave doesn’t make that imaginary object any less imaginary. Stake doesn’t physically exist. It is decentralized in imagination only. Said a different way: the prohibitive costs of gaining & maintaining centralized & unimpeachable control over the ETH ledger is purely imaginary b/c stake does not physically exist. Cost of 51% attack should be measured in watts, not $. The cost of gaining centralized validation control authority over the Ethereum ledger is ZERO watts. Some anonymous group of people already have majority ownership of stake that is effortlessly & mathematically unimpeachable. The moment we switched off gold standard, the physical constraints securing USD from systemic exploitation disappeared. The same thing just happened w/Ethereum’s fork from PoW –> PoS. They just cut the only physical constraint securing their ledger against systemic exploitation.

AS ALWAYS DON’T LISTEN TO WHAT THEY SAY WATCH WHAT THE ACTUALLY DO.

To JPM…

“Fiat is a centralised pyramid scheme flowing money from the bottom to the top, which are the bankers licensed to dilute the money supply and charge interest on it.”

Bankster Barks Bitcoin Bad

So this is upsetting for the pro decentralization fan boys. It turns out the most innovative bank (JP MORGAN) has a huge stake in the ownership of Ethereum.

1. JPMorgan, $JPM CEO says #Bitcoin is a “decentralized Ponzi scheme.”
2. JPMorgan CEO Jamie Dimon regards crypto as a tale of two cities, with “crypto tokens that you call currencies” on one side and “real” innovations on the other.
3. JP Morgan CEO Dimon slams crypto tokens as ‘decentralised Ponzi schemes’
4. J.P. Morgan Owns Crucial Part of Ethereum
   ConsenSys lawsuit reveals JPMorgan owns critical Ethereum infrastructure
5. Ethereum: Mastercard, UBS, and J.P. Morgan pour $65 million into crypto startup studio Consensys
6. ConsenSys lawsuit reveals JPMorgan owns critical Ethereum infrastructure Saying that Ethereum is centralized isn’t a meme. Here’s the proof. Wall Street owns a large portion of it! JPMorgan has a large stake of ConsenSys. This company owns the MetaMask Ethereum wallet and node network Infura.Why would the U.S government fear ethereum when ~54% of the nodes are hosted on Amazon and JPmorgan owns metamask? Lido finally operates 22 nodes , jp Morgan owns more.

The SEC and other agencies already know this as well. Gensler definitely knows it but JP MORGAN & friends want to control the casino.
Gary Gensler chairs the @SECGov regulatory agency. Yesterday, in front of the Senate oversight committee, Gary said “We can’t let #crypto ruin a $100 trillion market.” Who is Gary protecting? @jpmorgan @BankofAmerica @WellsFargo @BlackRock @ConsenSys @BIS_org
At least 50% of #ETH and network nodes are controlled by the #Ethereum Foundation and #jpmorgan

Ethereum is the biggest lie and fraud in the history of blockchain and investment. https://twitter.com/soroushtweet/status/1570368746694537216

According to our #Ethereum Post Merge Inflation dashboard, 46.15% of the #proofofstake nodes for storing data, processing transactions, and adding new #blockchain blocks can be attributed to just two addresses. This heavy dominance by these addresses is something to watch.
It’s Lido and Coinbase. That’s a bigger problem than it being individuals (which would also obviously be terrible). Those 2 are going to do exactly what the government tells them to do.

Centralization in cryptoland? What a surprise!
ConsenSys Cheated Ethereum
A group of 35 shareholders of Ethereum giant ConsenSys AG (CAG) have filed for a special audit of a 2020 deal that saw JPMorgan Chase acquire an “influential” stake in two of its flagship products.

Pathetic Gary Gensler

Experts argue SEC cannot claim jurisdiction over Ethereum transactions
The SEC’s jurisdiction claim sets a dangerous precedence for the crypto industry as assets whose nodes are densely clustered in the US could face this overreach in the future. Several experts have disagreed with the U.S. SEC’s claim that it has jurisdiction over Ethereum transactions because there are more ETH nodes in the country than any other.

Ethereum Successfully Castrates Itself

“Presently the arc of SEC policy has been to increase futures liquidity and dominance by approving multiple futures ETF”

NO SPOT BTC APPROVAL IS PROOF GENSLER AND THE BANKS WANT THE FUTURES MARKET TO SHORT BTC OUT OF EXISTENCE.

Presently the arc of SEC policy has been to increase futures liquidity and dominance by approving multiple futures ETF, while rejecting all spot ETFs. This is a political game. BTC doesn’t have to be killed, it just needs enough shorts in the system to suppress price. Without a large market cap, BTC doesn’t get to make global impact. You think I’m kidding.
“There can only ever be 21m coins” Yes, you’re right, I see you’ve read the whitepaper.

Can Governments Keep Bitcoin’s Price Down? the fed could be bankrupted by other countries, aware the fed are shorting and buying bitcoin.

Tether Agrees to Provide Documents Proving USDT Asset Backing

Capitalism and extreme poverty: A global analysis of real wages, human height, and mortality since the long 16th century

The order is part of an ongoing 2019 lawsuit claiming that Bitfinex and Tether conspired to inflate Bitcoin’s price by pumping the market with unbacked Tether tokens. At the time, plaintiffs alleged that both companies’ actions led to over $1.4 trillion in damages.

The common notion that extreme poverty is the “natural” condition of humanity and only declined with the rise of capitalism rests on income data that do not adequately capture access to essential goods.

This paper assesses claims that, prior to the 19th century, around 90% of the human population lived in extreme poverty (defined as the inability to access essential goods), and that global human welfare only began to improve with the rise of capitalism. These claims rely on national accounts and PPP exchange rates that do not adequately capture changes in people’s access to essential goods. We assess this narrative against extant data on three empirical indicators of human welfare: real wages (with respect to a subsistence basket), human height, and mortality. We ask whether these indicators improved or deteriorated with the rise of capitalism in five world regions – Europe, Latin America, sub-Saharan Africa, South Asia and China – using the chronology put forward by world-systems theorists. The evidence we review here points to three conclusions.
(1) It is unlikely that 90% of the human population lived in extreme poverty prior to the 19th century. Historically, unskilled urban labourers in all regions tended to have wages high enough to support a family of four above the poverty line by working 250 days or 12 months a year, except during periods of severe social dislocation, such as famines, wars, and institutionalized dispossession – particularly under colonialism.
(2) The rise of capitalism caused a dramatic deterioration of human welfare. In all regions studied here, incorporation into the capitalist world-system was associated with a decline in wages to below subsistence, a deterioration in human stature, and an upturn in premature mortality. In parts of South Asia, sub-Saharan Africa, and Latin America, key welfare metrics have still not recovered.
(3) Where progress has occurred, significant improvements in human welfare began several centuries after the rise of capitalism. In the core regions of Northwest Europe, progress began in the 1880s, while in the periphery and semi-periphery it began in the mid-20th century, a period characterized by the rise of anti-colonial and socialist political movements that redistributed incomes and established public provisioning systems.

THE SENATE AND CONGRESS TRADE STOCKS ON INSIDE INFORMATION THEY ARE PIRATES.
The Senate and Congress are just the modern day privateers / pirates known back then as “Black Bart” and Captain Kidd.

Queen Elizabeth II’s funeral was watched by 27M people in the UK alone. In contrast, Princess Diana’s funeral was watched by 32.1M in 1997.