A ponzi scheme is driven by men. Bitcoin is driven by a machine we call the internet; A giant electric schism that connects the world. I would argue it is the singal most important foundation to a harmonic future for all mankind. Protecting its existence is in everybody's self interest.
The internet itself, as an asset base, of real physical resources such as androids and iPods, satellites and transmitting towers is natuarally decentralized and owes its value to the daily demands of an internet hungry society. So I suggest that within that panopticon of physical resources, sustained employment in many sectors from labor to higher education, and exponential interest in colluding with this technology through voluntary participation, that the inherent value of bitcoin is quantifiable. What would be the value of a bitcoin if it was inherently tied to securing the internet from evil and survival of itself? Bitcoin as a currency on the internet has the most interest in seeing that infrastructure sustain, despite borders or politics, war or peace, poverty or wealth. The free internet, like bitcoin, is for people regardless of any physical or spiritual preferences. I no longer need to say "bitcoin" or "the internet" as to me they are inherently tied and one is none without the other. Before bitcoin it was though society had been cooperating to bring the internet to where it is today, to a valued economy, and it has now outgrown that parentage. It is moving out and earning its own money, its own unconscious growth is even gaining intelligence. Yes, we have created a monster or a savior and though it has survived thus far and seems over-powering and unruly at times, it is still held at bay by man and his soul in the machine.
The same soul that drives the programmers and whistleblowers of free impartial information and freedom for all. The same souls that build the wires and the towers. The same soul as Tesla and Einstein, Shakespeare and Bach. A wild human soul that connects us all and aches for freedom and peacefulness. This is bitcoin, the internet, mans soul and the interconnectedness of all the same values.
So where is bitcoin now? Most are still speculating or unaware, distracted by the myriads of spin and media, mis-informed and centrally controlled. Bitcoin is the consciousness that is born of knowledge. The ship on the sea that the natives could not see until the shaman told them it was there. In bitcoin we are but an audience watching a hero take its adventure. To return glorious and unscathed in a decade will prove to all it has powers far greater than Man can place before its unconscious consensus of truth. We are man and machine looking for balance and truth.
A ponzi scheme has no philosophy, no intrinsic good, no hero's adventure supported by a whole. It does not work in balanced economics and it is controlled from a center. Bitcoin is none of this and so much more. We have only stubbed our toe on a diamond ten feet tall.
Will Kane
@frankkane
Monday, February 03, 2014
Saturday, February 01, 2014
Bitcoin in the second half of January
A monthly wrap-up and rant for January 2014.
It is no surprise by now I am thoroughly obsessed with the protocol behind bitcoin and all crypto-currencies. A decentralized ledger of consensus. A place to safely agree on a contract, whether that be the worth of a digit on the ledger or an outcome to be expected and fullfilled. It is simple and revolutionary. And what you are reading are epiphanies everyone will have in the future. You are decidedly ahead of the curve.
But I regress. This last week was an exciting one for bitcoiners. On Monday a young man of 24 was indicted for aledgedly knowingly selling BTCs to someone who was selling those BTCs for drugs. The value of a million dollars.
I would like to point out the massive assumptions by the DEA of policing a third partys intentions or thoughts. Like an Orwellian thought crime. On the other side of this coin if he is found guilty for this million dollar master plan let us pay close attention to the scales of justice and remember last year and HSBC. HSBC was found guilty accused of laundering money for the Mexican drug cartels into the hundreds of millions and possibly billions. They actually created briefcases that would fit through teller windows, full of cash! Here's one of the stories in the gaurdian : click here
Yes. $881 million and no one went to jail. The CEO remained as CEO and everybody forgot about it. The scales are not even.
On to other news..
The New York financial service committee also had a hearing regarding bitcoin and declared miners and investors as safe and not considered money transmitters. This is positive as anything less would be like placing a hand up to stop a speeding steam engine. Though wallets were being created at 5000/day through coinbase.com that spiked to 10,000/day after the announcement. www.bitcoinpulse.com for all stats.
And to top it all off china, the biggest mover of price so far, is back in the game despite earlier restrictions. They again accept deposits through banks in yaun. This announcement, before chinese new years, has a lot of bitcoiners wondering what February will bring in chinese investments. As most emerging market currencies tumble into an abyss including our own, bitcoin has remained a steady value with surprisingly little volitility. A couple quick last, but from from unimportant developments, I'd like to mention is the bitcoin Miami meet-up which was a huge success in terms of attendants and ideas. And Ethereum.org was also introduced to the world last night at midnight and I see this as a possible holy grail for bitcoin and bitcoin 2.0 protocols that will soon replace old third party contracts at a huge discount to all parties involved. Another billion dollars saving idea from bitcoin. www.ethereum.org
As for myself, I'm still collecting seaweed from the beach to put in the garden, catching some magnificent, though cold, winter swells and enjoying the peace and quite of island life. At the same time monitoring twitter news feeds multiple times daily and building a wallet and business service for bitcoin and the crypto-economy, which I see competing with banks. So my life is really more exciting than its ever been, or at least, steadily and remarkably fascinating.
Thanks for reading, until next Saturday,
W.
It is no surprise by now I am thoroughly obsessed with the protocol behind bitcoin and all crypto-currencies. A decentralized ledger of consensus. A place to safely agree on a contract, whether that be the worth of a digit on the ledger or an outcome to be expected and fullfilled. It is simple and revolutionary. And what you are reading are epiphanies everyone will have in the future. You are decidedly ahead of the curve.
But I regress. This last week was an exciting one for bitcoiners. On Monday a young man of 24 was indicted for aledgedly knowingly selling BTCs to someone who was selling those BTCs for drugs. The value of a million dollars.
I would like to point out the massive assumptions by the DEA of policing a third partys intentions or thoughts. Like an Orwellian thought crime. On the other side of this coin if he is found guilty for this million dollar master plan let us pay close attention to the scales of justice and remember last year and HSBC. HSBC was found guilty accused of laundering money for the Mexican drug cartels into the hundreds of millions and possibly billions. They actually created briefcases that would fit through teller windows, full of cash! Here's one of the stories in the gaurdian : click here
Yes. $881 million and no one went to jail. The CEO remained as CEO and everybody forgot about it. The scales are not even.
On to other news..
The New York financial service committee also had a hearing regarding bitcoin and declared miners and investors as safe and not considered money transmitters. This is positive as anything less would be like placing a hand up to stop a speeding steam engine. Though wallets were being created at 5000/day through coinbase.com that spiked to 10,000/day after the announcement. www.bitcoinpulse.com for all stats.
And to top it all off china, the biggest mover of price so far, is back in the game despite earlier restrictions. They again accept deposits through banks in yaun. This announcement, before chinese new years, has a lot of bitcoiners wondering what February will bring in chinese investments. As most emerging market currencies tumble into an abyss including our own, bitcoin has remained a steady value with surprisingly little volitility. A couple quick last, but from from unimportant developments, I'd like to mention is the bitcoin Miami meet-up which was a huge success in terms of attendants and ideas. And Ethereum.org was also introduced to the world last night at midnight and I see this as a possible holy grail for bitcoin and bitcoin 2.0 protocols that will soon replace old third party contracts at a huge discount to all parties involved. Another billion dollars saving idea from bitcoin. www.ethereum.org
As for myself, I'm still collecting seaweed from the beach to put in the garden, catching some magnificent, though cold, winter swells and enjoying the peace and quite of island life. At the same time monitoring twitter news feeds multiple times daily and building a wallet and business service for bitcoin and the crypto-economy, which I see competing with banks. So my life is really more exciting than its ever been, or at least, steadily and remarkably fascinating.
Thanks for reading, until next Saturday,
W.
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