Thursday, July 16, 2020

Bitcoin and the Great Twitter Hack

The Nutshell Issue

Yesterday Twitter was hacked in a way that pales to any hack before. The attack hack went after iconic Twitter accounts: Barack Obama, Bill Gates, and many others that were followed by millions of people. The attack also went after the accounts of businesses in the Bitcoin and cryptocurrency industry and some other businesses in general. Fortunately the attack did not hit the President of the United States account. But it could have. 

https://gadgets.ndtv.com/social-networking/news/twitter-internal-systems-hacked-cryptocurrency-bitcoin-hack-musk-biden-obama-2263649
Photo Screenshot from: https://gadgets.ndtv.com/
 
Twitter responded about the incident:
 
The basic tenet of the attack was to encourage people who held Bitcoin (BTC) to double their money by sending some of it to a Bitcoin address. This psyop (psychological operation) worked.

You can see the BTC address and how much was obtained: 

https://www.blockchain.com/btc/address/bc1qxy2kgdygjrsqtzq2n0yrf2493p83kkfjhx0wlh
From Blockchain.com -- Bitcoin address used in Twitter Hack

Please do not send any BTC to this address! 

As of today nearly 13 BTC was collected. Today that would net you $116,743.06 USD! For the sophistication the amount of effort involved seems like not a lot of money as Cameron Winklevoss stated: 
There is speculation that there were more addresses. 

But that's not why I am writing this.

It Doesn't Matter Why There was a Hack

Many people who love Bitcoin are understandably upset. Some others are not so much. Bitcoin's reputation is what they are concerned with. Many people who I respect and follow in the Bitcoin space would love to have Bitcoin marketed better. The more people in the space the more valuable Bitcoin will be for those who hold (hodl) it. The more demand. The more the value, right?

Yes and no.

Some wonder why anyone who held any bitcoin would actually send it to the scammer's address. It's simple, the people who fell for this were new and they believed in Bitcoin and they wanted it to increase value. They also believed that it was suddenly more popular due to all the good news that pushed them to buy it in the first place. That good news was Marketing and FOMO (Fear of missing out).

So the people who fell for the scam and the people who want Bitcoin to be legitimately respected are essentially the same. They (me included) want Bitcoin to increase in value. That value could be more development, more nodes running, more miners mining, more places accepting, and more people holding. There are many reasons for liking Bitcoin. Even the scammer/hacker/s knew that Bitcoin could not be hacked!

It's a bit of game theory involved but a scammer doesn't care and a greedy person doesn't care. The greedy person and the scammer want to exchange Bitcoin for FIAT! So do many of those who have rejected the US Dollar. They reject the US Dollar but they always compare Bitcoin to the US Dollar (or other FIAT money system). 

One of the arguments toward obtaining Bitcoin is that the US Dollar as a FIAT currency is failing and will fail. This is why Bitcoin is future money in the now. Bitcoin, because it can not be hacked easily and definitely not by social engineering, is super resilient due to the distributed public blockchain ledger. That ledger is a free open source software database that works by consensus of millions of computers (nodes)! 

Because Bitcoin's start in 2008 slowly increased value for a few years and then exponentially went up from zero USD to 65,000 % (9K USD now)  there are many different people who contribute to the strength, development, distribution and use case of Bitcoin. This is as game theory has it a distributed use case base on mutual interests. It also ensures that users can not censure each other because everyone loses.  


Bitcoin also has a security that is trust-less. It has security that does not depend on the opinions, actions and politics or prejudices of its users. This security does not care about marketing, the price of bitcoin to USD (FIAT) or social engineering.

I can not begin to attempt to be an expert. But I can give an example from my own experience as I do run a full node. If you are interested in the nuts and bolts of Bitcoin please read: Mastering Bitcoin by Andreas Antonopoulos

Mastering Bitcoin by Andreas Antonopoulos
Mastering Bitcoin by Andreas Antonopoulos

Bitcoin Security Example

Since the Bitcoin software operates on consensus the group of nodes depend on accurate data. In order to hack something you need inaccurate data. That's what happened to the posts of Twitter verified accounts. These accounts were compromised but the actual harm was the data (content) that was posted. Based on those sources being verified and not fake accounts humans, who were duped into parting with their bitcoin, believed that there would be a reward. They made decisions based on false data so not only were the employees of Twitter socially engineered but the followers of these accounts were socially engineered too! 

Bitcoin has one answer for this. The answer is the Ban list. This list is the result of other nodes providing information that conflicts with the consensus. The list bans those IP addresses for a period (24 hours). This is just my node that does this. It does not allow data from the bad actor. Other nodes also have ban lists too. The actor will probably show up there also. There is no drama. It just doesn't allow any more conflicting data from that other node for a day. Each time there is a violation back to the ban list you go.

It's like time out for kids. Or sitting in the corner. No legal action. No accusations. No tears 

Tomorrow the node may provide good data or not. By consensus the nodes silently reject odd data and the bad actors just eventually realize that they are wasting electricity, time and energy. Their goal is to send a transaction that favors them obtaining bitcoin. Kind of like the Federal Reserve creating transaction on their SQL database that gives magical money to someone for nothing. 

The difference between the US Dollar and Bitcoin is that every bitcoin (lower case for the money and capitol for the Technology) is created from Proof of Work. Conversely every dollar bill after 1971 when President Nixon ended dollar convertibility to gold is a creation backed by faith. In other words it is FIAT currency.

By Bitcoin having value others want to hack it in order to obtain it. As far as the Twitter hack goes bitcoin was the reward of convincing people to get more of it for nothing. It worked. But it was not due to anything negative about Bitcoin. The hacker didn't provide a bank account, a drop zone or a meeting spot. 

The hacker/s just used Bitcoin because it can not be hacked without destroying the whole system itself. By destroying the whole system the value of bitcoin becomes nothing which would take Billions of US Dollars to achieve! Yes it is expensive to mess with Bitcoin because it is expensive to produce!

Bitcoin like Linux is here until it isn't

The intention of the Twitter hack may have been to discredit Bitcoin. That is the concern of those who love bitcoin and want to share it with everyone else. I understand.

Fear is fear and it is useless garbage. Bitcoin to me is like Linux. I was not a super early adopter of Linux but in 1999 I was running Linux as my primary operating system and 20 years later all my computers use it. There was a lot of fear in the early days. Microsoft was scared and the company RedHat (Linux) became an IPO that made many people Millionaires before the great Dot Com Bubble.

There were so many bad actors who did not have a clue what Linux was and they just wanted it to go away because they had a monopoly on business software. Linux didn't go away. Every android phone runs on the Linux kernal. 96% of the public internet servers run Linux. Today Microsoft is a platinum corporate member of the Linux Foundation.    

Today Microsoft is a platinum corporate member of the Linux Foundation.
Today Microsoft is a platinum corporate member of the Linux Foundation. 

I used Linux for a need not just to be different. For me it made sense that I had to get the tools I needed to write because I could not afford to buy software for every little thing I wanted to do. Or I was locked into software that only allowed me to use the exact system I had.

My adoption of Bitcoin only started in in 2019 because I was given another cryptocurrency. I first heard about bitcoin in 2012 but I could not wrap my head around it. I tried. It took me 8 years. But once I was given a cryptocurrency and I was able to convert it to USD. I was amazed! It was real. I was sent $20 in Stellar via a Keybase Airdrop from the Stellar Foundation.

This pushed me to learn about cryptocurrencies but I kept circling back to Bitcoin. I realized that all the other cryptocurrencies were reactions to Bitcoin. Sure they have use cases and they have value but the longest running successful free open source project  with a decentralized digital ledger and currency is Bitcoin.

The more I learned the more I realized that my hard work for many years trying to earn and save money was rigged! Bitcoin was created to level the playing field on money rigging. Linux was created to level the playing field on 32 bit operating systems. I needed technology that could help me to increase my value as a human and simultaneously help others. 

Bitcoin Fixes This

Bitcoin is here. regardless of where you are on this monetary journey you can not change that it is here. For those who love Bitcoin we need to just be patient. In Buddhism there is a concept called paṭiccasamuppāda (Pali). This concept is "dependent co-arising or as Bhiku Boddhi says: "co-dependent co-arising". 

The concept of paṭiccasamuppāda is that "Because there is this, there is that. Because there is that there is this." It's like Murphy's Law or Cause and Effect but much, much deeper. The natural law (Dhamma / Dharma) of the Universe has no detectable begining or end in its vastness. The deeper you dig the more you find but there are visible relationships that have details and use cases based on the needs we have to navigate. Also the use cases are based on the polarity of things. There is night because there is day.

Bitcoin is a discovery. It was something that came together via the innumerable technologies that were already working and it came together based on the innumerable technologies that were not working. Other cryptocurrencies can claim the same thing but Bitcoin was first and is the longest running. When you investigate and learn about Bitcoin you will find that almost every question you have someone has an answer to this within Bitcoin.

Bitcoin is a conservative technology on the bleeding edge. The developers who write and maintain the software are just like me and you, except much more intelligent than me, the software is free. You can copy it. You can change it. You can make your own bitcoin with a test net. You can not change the software that runs because the miners who validate transactions have to agree to run the same protocol. They run what they want that is most valuable to them. Game theory. 

Bitcoin is what I like

I could be wrong but Bitcoin is what I like and as long as I participate it will stay here. Since I have entered the space and I have obtained some bitcoin with my hard earned FIAT my ability to exchange BTC for more fiat has increased. I hold onto it and I earn interest. So regardless of what the value is I earn more Bitcoin. I'm not rich by any means but I have the ability to travel anywhere on and off this planet with money that can not be seized or stolen without my consent.

I'm over simplifying things and the truth is that I can be hacked too. So I have to work hard to take care of my earnings or at least be mindful of my processes. But I never had any amount of money when I only understood USD. I was just trapped in the cycle. Now I am better off than I was in August of last year when I signed up for an airdrop.

If I loose my Bitcoin holdings I will still try to get back in the saddle. I tell people to just get a small amount and watch what happens. As Andreas Antonopoulos says in many of his educational talks the best thing to do is to earn it. Right now if someone would pay me in Bitcoin for a job I would do it for 75% of the market value it currently has in USD because I know from the data that Bitcoin has outperformed the US Dollar consistently since 2013.

What's Next?

Whether you like or dislike Bitcoin it doesn't matter. 

There are a few facts I'd like to point out: 

Everyone one who has touched Bitcoin has increased the quality of his or her life.

Sure there are some who have lost everything... But they did not lose their life and they can easily get more BTC if they want. So it was an ego hurt or a mistake that happened.

There is an unlimited amount of education that is free about Bitcoin.

There is no excuse for not trying out Bitcoin. You can use CashApp Here is my referral (unless it gets hacked too!) to  purchase Bitcoin at a fair price and you can immediately buy or sell it for USD. I have used it since January and I like it. I do not keep Bitcoin on it but you can until you understand a few more things. 

Do not believe anyone who tells you you can get rich!  

That's greed which is exactly what get people hacked socially. Do not believe that any other cryptocurrency is the same, better or will make you rich. You will become more affluent when you increase your knowledge of Money! The more you learn about FIAT, Bitcoin and it's technology the more power you will have to be a sovereign human being.

Ignore all politics, riots, social injustices and the noise!

If you have Bitcoin you will be able to control your labor. Thus you can not be a slave to a currency that is based on the opinions of wealthy people who devalue it by sharing it with other wealthy people. As Robert Breedlove points out in the Masters and Slaves of Money the blatant deception of counterfeiting the ancient currencies of African by Europeans led to the atrocity of slavery of humans! Africans were bamboozled out of their wealth and into slavery. This is also what is happening to all of us who are not part of the great corporate social and political system of the Federal Reserve. 

Follow the Money

So Twitter was Hacked, Big Deal.

This will happen again. Somewhere else and in another place. That is what freedom is about. We are all here temporarily. We make the best of it and we move on. Today we are alive. Today we have great tools. All we have to do is unplug the lies, the bad data and weak social engineering and the rest is up to us. We control what we can and what we can not we circumnavigate, leave alone or ignore. 


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It's a good day to get into Bitcoin. not for getting rich but for learning and that's not a bad thing. Cash App is a great on-ramp. The fees at the cheapest and no jacked up exchange price! Try it using my code and we’ll each get $5. QGKQDWX  https://cash.app/app/QGKQDWX

Sunday, July 12, 2020

If You Really Want to Follow the Money

I was inspired by an article my cousin posted on Facebook regarding tax cheats. I'm re-posting my response. 

Sunflower follows the sunshine, you follow the money
Sunflower follows the sunshine, you follow the money


If you really want to follow the money, read this by Robert Breedlove (Below).  Taxes are just 1 side of the coin. The other is the money itself.  
  1.  #USD The US Dollar is the unit we have to pay our taxes in. 
  2. USD is the reserve currency of all other world currencies so you need it to purchase most goods but especially Oil, food, water, raw materials and labor. 
  3. USD is manufactured (issued #Fiat ) by the Federal Reserve who are NOT a government branch.  They are a private organization of banks who create unlimited USD which is given to large failing corporations and governments as loans and bailouts that are NEVER paid back. 
  4. Inflation is created when a limited supply of USD is increased.  When the FED issued 2 trillion extra dollars this year it devalued the USD everyone who worked for it head.  This is an invisible tax. 
  5. The USD is not pegged to gold,  silver,  precious metals or anything.  In 1971 President Nixon removed this connection. 
  6. The majority of taxes are paid by working people. We will be taxed as slaves.  Unlimited dollar creation devalues the debts we already have thus investing a debt from billions to trillions.  Impossible to ever pay back but taxpayers are responsible for creating the labor to back those debts. 

Robert Breedlove: Masters and Slaves of Money on Medium.


Sunday, May 31, 2020

Bitcoin Rap Battle Debate: Hamilton vs. Satoshi (BITCOIN GIVEAWAY) [feat...

Bitcoin Rap Battle Debate: Hamilton vs. Satoshi (BITCOIN GIVEAWAY) [feat. EpicLloyd, TimDeLaGhetto]






Sunday, March 1, 2020

Cash App -- The Best On-Ramp to Bitcoin Investing!

Cash App Logo
Cash App Logo

There are plenty of on-ramps these days to buy Bitcoin. When we first heard about this space we were baffled and we let the whole business go. It wasn't until we got into a Stellar Lumens Airdrop that shit got real, real quick!

Enter the off-ramp.

When you get a bit of cryptocurrency in an airdrop the first the you want to do is turn it into cash because that's what you use every day to buy stuff. We had to figure out what to do with our air-dropped goods.

Before we knew it we were heading into the crazy world of cryptocurrency. The wild west. 1997 of the internet all over again. Or 1995 All over again.

1995 was the time that computers began to be subsidized with corporations who figured out that the billboard for their goods was your desktop. Productivity was exactly what the manufacturers of personal computers did not want. They wanted to sell you stuff!

We are here again.

Cash App Logo
Cash App Logo


Coinbase was our first off-ramp and on-ramp. It was nice to be able to send $50 of Stellar Lumens to a wallet address and then to send that converted XLM into $USD (with a fee of course). Then when we sent that $USD to our Throw away credit union account and it showed up! The shit got very real!!!
Cash App Customized Free Debit Card with Special "Boosts!"
Cash App Customized Free Debit Card with Special "Boosts!" 

We were hooked into the Great Crypto Wall of Definance. We will discuss later different aspects of our mistakes in future posts but for now let's just say that we did a lot of stupid trades and we played into the hands of the strong exchanges.

What's an on ramp?


Cash App Customized Free Debit Card
Cash App Customized Free Debit Card

On on-ramp is what gets you into the cryptocurrency space. It's how you convert your hard earned fiat into cryptocurrency. Within seconds of your first buy you realize that you are now the most brilliant trader in the world. You realize that you can really make money in the dips and peaks. You think that you have got this and then you realize that you can turn $100 dollars after 25 trades into $15.35. Man, you are good.
Cash App Customized Free Debit Card
Cash App Customized Free Debit Card

In order to get this you need to get into this and make some mistakes.  Learning from others is a great way to avoid those mistakes and you can make your own new mistakes. 
Cash App send or receive funds using the Android or Apple apps
Cash App send or receive funds using the Android or Apple apps

One mistake we did was we sent $2.00 USD of Stellar XLM to another account and we forgot to put in the memo.  We lost $2.00. It still pisses us off.  So we learned from it. So be it.

So an on-ramp is a place to buy cryptocurrency and better yet it is an on-ramp to buy the big king Daddy(Mamma?) Bitcoin.

If you are going to get into the cryptocurrency space we are going to recommend that you just learn about Bitcoin first. Why? Because this is the first successful project and all other coins are compared to this one. 

Pay using the Cash App Debit Card
Pay using the Cash App Debit Card

We have bought $BTC (Bitcoin) from Crypto.com, Coinbase, Uphold, and we've stuck our toes in many other spots.  The fees were absolutely terrible.  We've even looked into the vending machine at a grocery store from Coinstar.  As a retail investor we are the stupidest investor there is. We know this, but we also know that we want to play anyway and we want to learn without getting our asses handed to us.

Cash App is the winner and it's for winners


After all of our research we happened to hear about Cash App on a podcast. We downloaded it and we did a little research. Cash App is owned by Square. Jack Dorsey of Twitter owns Square. IF you have eaten at any small business restaurant in the last 5 years and you saw an iPad as the  Point of Sale you've used the Square system to pay for your meal or goods.

Cash App has some very good qualities:

1. A free debit card that you can order personalized (even with a bitcoin logo)
2. An account that you can deposit directly from a bank or pay via direct deposit.
3. A very cool personalized handle like Twitter that you can get paid with
4. You can load up your card with cool bonus things like $1.00 off any coffee chop that is immediately given upon use.
5. You can invest in very small amount in some stocks that are very popular.
Buy Bitcoin at Reliable Market Prices with the Cash App
Buy Bitcoin at Reliable Market Prices with the Cash App
6. You can invest in Bitcoin!!!! You can also buy Bitcoin with fees that are 50% less than all the above on-ramps mentioned. No only this but the market price is the price that you will purchase your bitcoin with.
7. Cash App is fast!

Number 6 is the very important part. We found one day that a NOT TO BE NAMED SERVICE THAT WE LOVE started offering credit card purchases of Bitcoin.  We checked it out in real time against Cash App and found (GULP) that the price of $BTC was $500 USD higher than Cash App. We were shocked.  We also compared to COinbase and found the $BTC price was $200 more on Coinbase and the fees were twice that of Cash App.

We love Coinbase but we don't want to invest in their exchange we want to invest in our definance!

Conclusion

Cash App is the best on-ramp. It is cheap. It is handy. It is fast. At our workshops we recommend the new cryptopenuer to start with Cash App. We recommend you do this too! We are not financial advisors so please due your own research. Once you finish your research come back here and use this code: QGKQDWX  https://cash.app/app/QGKQDWX We will get $5 and so will you just for signing up.

BONUS: 

Our workshop that is normally $1200 can be paid via Cash App and we will take $300 USD off because we know you are serious! Just send the CODE in your Memo: 1200-300=900  
Scan to Pay ($Bitgnostic) Bitgnostic LLC for $1200 workshop with Memo: 1200-300=900
Scan to Pay ($Bitgnostic) Bitgnostic LLC for $1200 workshop with Memo: 1200-300=900
Full Disclosure: Cash App is NOT Paying us to advertise at this time. We are of course hoping that you join us in its use because we feel that it is a great way to get into the Bitcoin space and also enjoy banking or unbanking yourself. The links that are advertisements are just referral links and we hope you use them so that you and we can get $5 for adopting this service.

Friday, February 28, 2020

The Beginner’s Guide To Bitcoin | What Bitcoin Did

The Beginner’s Guide To Bitcoin | What Bitcoin Did
The Beginner’s Guide To Bitcoin | What Bitcoin Did

Peter McCormack does a an excellent job podcasting. If you want to learn about what is going on with the Bitcoin space and you are not interested in Shitcoins[1] then Peter is your man. Here we have outlined the What Bitcoin Did Podcast Series: The Beginner’s Guide To Bitcoin

Besides being very opinionated about cryptocurrency Peter has achieved another goal. He has learned to ask questions, learn from his mistakes and teach others about his progress in as honest a way as he can possible. His style is refreshing and his knowledge of the Bitcoin space deepens to match his fascination and curiosity. 

This podcast series The Beginner's Guide to Bitcoin is, hands down, the best! His guest are all people who have worked very hard to improve the Bitcoin space and these guest are not salespeople. If anything they will warn you about the potential pitfalls, scams and bad practices. Some of the talk is extremely technical but Peter is there in the interview to advocate for the totally clueless. None of his guests were born with this knowledge and the only reason they even attempt to teach and help others is due to their own undeniable passion.

This is a time that we are in that is very similar to 1997 of the early days of the internet.  This is the time where the internet of Decentralized Money is at hand. Bitcoin is over 11 years old and we are beginning with a well developed exciting tool. Follow Peter as he chases the rabbit down the hole.

All of the links directly point to Peter's website. In some ways it is kind of silly to copy this but we feel that the series is so important that it has to be shared in as many places as possible. We hope Peter will forgive us for doing this redundant task. We can always say, "We're sorry."

Episodes:


  1. Why We Need Bitcoin with Andreas M. Antonopoulos
    Part 1: Why We Need Bitcoin with Andreas M. Antonopoulos
    Andreas explains why the current monetary system is no longer fit for purpose and why Bitcoin is the answer.

  2. What Is Money with Parker Lewis
    Part 2: What Is Money with Parker Lewis
    Parker answers the question, what is money? We also discuss the history of money and the characteristics of sound money.

  3. Bitcoin's Pre-History and the Cypherpunks with Aaron van Wirdum
    Part 3: Bitcoin's Pre-History and the Cypherpunks with Aaron van Wirdum
    Aaron explains the cypherpunk movement and the digital money projects which paved the way for Bitcoin.

  4. What is Bitcoin with Stephan Livera
    Part 4: What is Bitcoin with Stephan Livera
    Stephan explains how Bitcoin works, its key features such as decentralisation and censorship resistance and the reasons why people might want to own it.

  5. The History of Bitcoin with Marty Bent
    Part 5: The History of Bitcoin with Marty Bent
    Marty explains the key events in Bitcoin’s history from the launch of the protocol to the Silk Road and the Scaling Wars.

  6. How Bitcoin Works with Shinobi
    Part 6: How Bitcoin Works with Shinobi
    In this episode, we are looking at how the Bitcoin protocol works. We discuss the supply & halvings, transactions & UTXOs, consensus rules, mining and nodes.

  7. Bitcoin's Monetary Policy with Dan Held
    Part 7: Bitcoin's Monetary Policy with Dan Held
    In this episode, we discuss how the economy works, the 21 million hard cap, the release schedule and block rewards.

  8. How is Bitcoin Legal with Peter Van Valkenburgh & Jerry Brito
    Part 8: How is Bitcoin Legal with Peter Van Valkenburgh & Jerry Brito
    In this episode, we discuss the regulations and laws regarding Bitcoin.

  9. Altcoins, A History of Failure with Nic Carter
    Part 9: Altcoins, A History of Failure with Nic Carter
    We discuss the history of altcoins, their inferiority to Bitcoin, and why the failure rate is so high.

  10. Buying, Spending and Earning Bitcoin with Matt Odell
    Part 10: Buying, Spending and Earning Bitcoin with Matt Odell
    In this episode, we discuss the best way to buy Bitcoin, privacy as well as how to spend and earn Bitcoin.

  11. Bitcoin and the Macroeconomy with Travis Kling
    Part 11: Bitcoin and the Macroeconomy with Travis Kling
    We discuss the great big fiat experiment, monetary and fiscal policy, social unrest and where Bitcoin fits into all of this.

  12. Bitcoin Privacy & OpSec with Jameson Lopp
    Part 12: Bitcoin Privacy & OpSec with Jameson Lopp
    We discuss Bitcoin privacy, best practices and operational security.

  13. The Lightning Network with Jack Mallers
    Part 13: The Lightning Network with Jack Mallers
    We discuss the Lightning Network, the scaling debate, fees, settlement and the future of the protocol.

  14. Bitcoin Things You Need to Know with Peter McCormack
    Part 14: Bitcoin Things You Need to Know with Peter McCormack
    We discuss Satoshi and the whitepaper, the 21 million hard cap, block rewards and size, mining, running a node and privacy.


Tuesday, February 25, 2020

Bitcoin as a 2nd Amendment Right against Weaponized Currency

Bitcoin is a hedge against Tyranny and it is a fundamental right of the 2nd Amendment of the Bill of Rights of the United States Constitution.

"2nd Amendment" by Ben Taylor55 is licensed under CC BY 2.0
"2nd Amendment" by Ben Taylor55 is licensed under CC BY 2.0


“A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear Arms, shall not be infringed.”  
https://www.loc.gov/law/help/usconlaw/second-amendment.php

In order to maintain a well regulated Militia and keep the security of a free State the right of people to keep and bear Arms is currently infringed upon by Fiat currency that is dependent on a centralized bank controlled by a few members of various states.  Increasingly the currency in question, the United States Dollar, is weaponized and its use is to control citizens, foreign interests, elections, education, healthcare and the bare necessities of life like food, water, clothing and shelter.

Bitcoin as a 2nd Amendment Right against Weaponized Currency. 

There are many reasons to get into Bitcoin. Maybe you want to learn about the technology. Maybe you want to diversify your portfolio. Are you curious? Regardless of your reasoning there is a technology that exists without borders. All players involved have something to lose if there is any disruption. 

If you are are citizen of this country you have already seen how our US Dollar has been used to control us by fines, taxes and labor. It has also been used against schools, cities, states, libraries and military units with regards to resources. In commerce there have been use cases where funding has been withdrawn, and accounts have been mysteriously closed. Even in retirement, pensions have been liquidated. 

The rub is that we have to trust another party to hold our earnings, build our wealth by lending and spending and hopefully we get a return on this. Instead we have banks with low to zero interest rates. Banks charge us to cash checks. Money management funds charge us to hold our money. In the background the Federal Reserve prints new money and gives it to the banks for little to no interest rate and the banks while receiving this cash bounty do not pass on the savings to me and you.

Our homes are dependent on the ability of us to come up with currency to continue to enjoy heat, air-conditioning, water, sewage, supplies, exterior upkeep, local taxes, insurance and many more requisites. If at any point our external holdings are confiscated, lost or blatantly stolen we are forced out and onto the street. 

Recession 101

In 2008 and 2009 we had a Great Recession. Banks were in liquidation due to the risky mortgages that many of their portfolios held. These securities were pegged onto the backs of sub-prime mortgages. These mortgages were pegged to adjustable rates.  These adjustable rates were pegged onto the big tax breaks you would get for paying them. Taxes were pegged onto income. Income was pegged onto ability to earn. Earning ability was pegged onto education which was pegged onto student loans. Student loans were pegged onto tax breaks and tax breaks were pegged onto income. Income was pegged again on the ability to earn. Wages were pegged onto the "Minimum wage."

As of July 24, 2009, the current Federal Minimum Wage was and still is $7.25 (Federal Minimum Wage is $7.25 ) . In our state, Virginia, it is currently the same. This year 2020 is eleven years later. An item that was $7.25 USD now costs $8.86 according to the CPI Inflation Calculator. (The language is a bit misleading when it says buying power.) If we scale this, what was bought for $725.00  now costs $886.00 that is $161.00 more! Yet the current minimum wage is the same!  

The average tax rate for US workers is 30%. So you can take Minimum wage $7.25 and get rid of $2.18 of that. Your disposable income is now: $5.08! Live on that!

Weaponized Money

The US Dollar is not pegged to anything other than conflict. Interesting no one really understands this. The case for this idea is strong. Our dollar is as effective as it is in the ability for it to violently solve conflicts. Without these conflicts we don't have much value in the cash because our ability to obtain its flow is based on the numerous military facilities, contracts and properties distributed throughout the United States. 

Once you have a contract you are working for the value placed upon it and that value is controlled by banks.  There is nothing evil here, it is just a fact. In return for working we all get paid in Fiat currency which is pegged onto the relationship it has with contracts around the world. Our fiat currency and other central bank fiats all have this relationship. That's just the way things are. 

Governments, all governments, control this and use it as a weapon. It's the stick and carrot. Like many types of weapons governments like to regulate them so that criminals do not have access to to it. This makes all of us guilty before we are accused. Law abiding citizens pay dearly for the the privilege of Fiat. Criminals on the other-hand continue with their enterprises based upon obscurity and pleasure. Pleasure, you see, is the motivator for crime and it is empowered by the strict regulation of the state to control the ability of citizens to get goods, shelter, pleasure and bare necessities of life.

Bitcoin to the Rescue

In 2008 the Bitcoin Whitepaper was released:  Bitcoin: A Peer-to-Peer Electronic Cash System 

This peer to peer electronic cash system has been alive since that time. The trade from USD Fiat has risen from 0 to $20,000 and Currently it is valued at $9,500 +/- . Here is a chart: All Time Bitcoin $USD. From the middle 2017 the USD value of Bitcoin has not dropped below $3,000!  In 2017 that $3,000 buying power now has to compete with $3159.41 or in other words it is worth $2840.59 today.


What makes Bitcoin resilient is its Open Source Software and Anyone can run a node philosophy. A node verifies transactions.  A node also allows you to send and receive Bitcoin.  Bitcoin is mined by miners who verify transactions. Node runners and miners protect the network from attack, corruption  and deception. Any bitcoin address can be validated.  Any transaction made on the network can be verified by anyone. It is not anonymous but it is open and both transactors can see that funds were in A and then they were in B and they did not need C to verify.  

Of course this is not the exact truth about Bitcoin it is much more sophisticated. The basic idea and reality is this. It is a peer to peer payment system and protocol. It allows people to send value back and forth without intervention, censorship or control by governments. You can exchange your goods or Fiat for this Bitcoin! It can be transferred at 100,000,000th of a Bitcoin which is called 1 Satoshi. It is supported by many volunteers, professionals, non-government organizations and regular users like me and you. 

The Wallet

Since you don't need government or a bank to hold your Bitcoin how does it work? It's a simple principal of encrypted ledger.  The ledger that is open and redundantly verified throughout the planet also uses public encryption to control transactions. Wallets are accounts that are on the ledger. These wallets are controlled by the people who have the encryption keys.  These keys are two part. One key is public so that someone can send to this address and the other is private so that the address holder can resend his or her funds to someone else. 

The beauty of this is that the keys can be written down or memorized in a 12 word phrase.  This phrase can be written on paper, stored electronically or stamped on a piece of metal and put into a safe. You can write a novel and put the phrase in the text and post it only for the world to see, but only you know where the words are!

You can travel with no electronic devices to anywhere in the world and you can at destination get a cheap smart phone. Install an Open Source Bitcoin Wallet. Put you key phrase in and Viola! your funds are available for you to use. This is good for everyone.  Even a special ops team can use this. Spies can use this. Criminals can use this. Grandma can use this. It's like oxygen. 

Conclusion

We here at Bitgnostic (BitGno) want to help propagate this technology and teach others to learn about it. We want all human beings to be able to have a Bitcoin account. We want all human beings to have the choice to engage in equal commerce with any other human being. 

There are other Cryptocurrencies but we are focused on Bitcoin here. If you are interested in learning about this we offer workshops to teach you the ins and outs of Bitcoin from a novice perspective. We help you to remove obstacles, gain education, find your own path and become an ambassador of this wonderful technology. 

It's like 1997 of the internet of money.  This is the time now to jump on board make mistakes and find solutions. 

You can invest only $1.00 USD and hold onto it. That's a small investment to get started.  Really it's best to start with a couple hundred.  That's it. Best of all. You control your own Bitcoin! 

It's your fundamental right to bear arms and if money is weaponized you too should have the ability to hedge yourself against this threat.


Sunday, February 23, 2020

Teaching People about Bitcoin



There are a lot of great podcast, apps, news and many other resources for learning about cryptocurrencies, blockchain (decentralized), Bitcoin and decentralized finance (deFi) but somehow you need to put it all together.

In order to successfully enter the world of Bitcoin, cryptocurrencies and decentralized finance you need to have ways of obtaining the digital currencies. For most people who hear about investing it seems to be something for experts or high risk takers and not for ordinary people. But, in fact, cryptocurrencies and specifically Bitcoin are meant for everyone on the planet to enjoy freedom without being slaves to fiat currency.

We are going to help you to get your foot in the door without having it lopped off. You will be able to become an investor and avoid many of the pitfalls into this new economy. Starting with where you are and moving you to a border-less freedom of wealth.

There are risks but once we show you what they are and how to mitigate your own risks you will be able to practice your skills, share your experience and develop your own strategies to specialize in this unlimited economy.

Let's face it. Your US Dollar in the beginning of the year of 2019 was worth $0.97 at the end of that year with 3 to 4% inflation.  Your bank gives you .01% interest.  Maybe a "high yield 1%" what a joke and the credit cards that they give you are at a whopping 27%.  What a joke!

Time to take charge and get into the big game to win your labor, time and money back.