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BitCoin - WHY - Does it exist?

Updated on March 20, 2015

BitCoin is all about using security ... PROPERLY

I have personally interviewed credit/bank-card fraud criminals in jail. And If you put EVERYBODY'S access-credentials in a single (common) data-base... it WILL get stolen. SIMPLE AS THAT. Thieves will ALWAYS find a way to steal 60-million identities and-or accounts. 60 million vulnerable accounts- is a desirable and tasty treat (to a hacker). And that is how the traditional monetary systems of the various regions of this planet have operated. (Plus "they" do not want you to leave them and their services (banks) unfunded.)

So "they" have a vested interest in debunking and politicking, and mud-smearing an up-coming disruptive technology that actually promises to WORK, and work-effectively...

..AND cut into their profits.

So BEFORE believing the naysayers, listen (and note from whom) those "Nay"-statements originate. And Think...

~ So... HOW DID... those "bail-outs" work out for re-starting the economy?

WHO BENEFITED? Just follow the yellow-brick-road, baby.

Elizabeth Warren recently stood against, "Too Big to Fail"

A BitCoin "Hash" is encryption at work

I hope to write a series, breaking down the basic technology of BitCoin.  Argument by argument.  I've been reading Andreas Antonopoulos's book.  "Mastering BitCoin"
I hope to write a series, breaking down the basic technology of BitCoin. Argument by argument. I've been reading Andreas Antonopoulos's book. "Mastering BitCoin"

Credit Cards are "broken" ...BY DESIGN

Credit cards are "broken" by design. Because what you are doing is you are opening a channel, that allows that particular merchant... OR ANYONE who gets the information on your credit / debit card...


To PULL money from your account, WITHOUT your expressed consent.

And if you will notice, the ENTIRE REASON our country and economy are in "danger" is due to the many many opportunities exploited, of that "silent non-consensual" kind of "consent". And that goes for how a lot of politics is happening lately too. But that's yet another (money-related) matter.

Your SILENCE... is consent.

(Your Passivity indicates it is "Okay to Continue this way".)

But credit cards are also broken by design in another very fundamental way. You see, the credit card account information doesn't stand alone. It is connected to your identity. In order to execute a transaction, you must... MUST... provide your identifying information for the transaction to also be completed. You have to provide a name, your residence, and additional varied information. In some countries the transaction will be accompanied with a tax number, or date of birth for almost every online commerce / credit-card transaction. (When using the current technology deployed across this entire planet, by reigning financial institutions.)

And the FBI actually suppresses the statistics regarding credit card fraud. The real numbers are internal and "need to know". If you KNEW... the TRUTH! ... ? Credit card fraud (based upon theft of "numbers" and "account info") is RAMPANT.

And THIS AUTHOR has personally interviewed people (in jails) who have actually participated in credit card and bank card theft and fraud. I have spoken with people who make checks and have self-educated on how to create masterful forgeries. Did you know you can buy the machines that make replica's of credit cards? (I never knew that.) I have spoken with these people at length, to find out HOW they do this... They themselves do not even usually RISK themselves when passing bad checks. (There are many poor people out there dumb, and desperate to make a couple dollars to walk into a bank with a "bad" check.) I have personally taken notes on HOW THEY OPERATE. Often, these are teenagers. Young high school drop-outs. I quote one of them as saying... "I am buying a series of homes, starting with one for my mom." And, "As soon as I get out of jail I am going to buy myself an $80,000 dollar watch."

One young man I interviewed was 25 years of age. He was stopped in a "routine" night-time (Friday night) random alcohol stop and check. When the police officer asked him to step out of his Lexus... several checks blew out onto the road from a door-pocket, when the wind caught them. Upon seeing them, and then searching the car. The officer arrested the young man loaded with fake credit cards, and pre-printed and blank checks. The young man admited that he "got sloppy". And THAT is why he "Got caught". Overconfidence.

He's the one who announced to me he was "treating himself" with a $80,000 dollar watch, after his 60 days for holding a "forged instrument".

You see... it's WORTH IT... to get "caught" once in a while.

"Education" ... will never help these people, because they already KNOW... how to make a very ... very... good "living". And they are only a PART of the "problem" that the economy of this country faces. Yet this type of theft is RAMPANT, in America. And it is a MEASURABLY significant impact upon the entire financial system as it currently stands. It is (truly) a major... major ... EXPENSE, entailing vast resources of the banks, the government, security agencies... etc.

Don't you see what has happened to us all?

It is a self-created, self-sustaining "exercise wheel". And we are the gerbils, driving that wheel, and paying all these people to be employed.... the ENTIRE lot of them...

When it simply is NOT necessary.

To PROVE it to yourself. Just TRY applying for certain specific "low level jobs". And it will happen more often than you may realize, that it is a fraudulent JOB POSTING!!! You have to do what I have done, and do a prolonged job search. And you will discover, the various postings that are fraudulent. You will find they take all forms. Many are even "in absentia property owners". And they give you some spiel about how they will be arriving in the country soon, but they want their house cleaned, prepped and painted and fixed up... After a while when I'd gotten a "couple" of fraudsters I just went WILD on Craigslist, I started 'applying' to nearly everything and anything... and I am sure that (sometimes) even the same fraudster was multi-posting, as different employment positions. Because often the emails were worded similarly. (often with a broken english). And poor writing. Once I actually "bumped into" a guy who was a "family man", and he'd call me on the phone, and chat with me while handling a child... (you could hear the child when he'd pick up the kid). Really, ... these people are completely bold, and creative.

And they will send you a check!

I have posted as a technical professional, and gotten replies from individuals who tried to convince me that they would send me a "stack of laptops to repair", they promised they'd ship them to me... BUT FIRST... They wanted to send me a check...

And I would actually "take them up" on that deal. And I'd receive a check for 2000 dollars. And, after I'd received that check, soon, after a couple days of me ignoring them. They'd rant, rave and THREATEN ME WITH THE "CIA" ! (- fools -) All I would do is (laughingly) write back to them, and say... "No buddy I'm gonna be sending the FBI to YOUR doorstep if you send me one ... more ... letter." And they'd clam right up.

Then I'd frame that fake check. And giggle to myself. Fraud is happening ALL THE TIME FOLKS, with this current financial system.

Support GOOD Technology

I am not lying to you. I have spoken face to face with people who do this. They also ARE the people who dabble in drug sales and various other illicit things. DO NOT DOUBT ME.

So when you hear the NAYSAYERS talk to you about (overly) glamorized headlines such as those with names like "The Silk Road".

Please TRY to pay attention to what I am saying. Here... and now.

Why would I lie?

and as they BASH "BitCoin" please try to understand the sheer magnitude of theft currently and actively ongoing- with the American Dollar... on the global scale.

And "they" want to keep it that way.

BitCoin is a truly "Egalitarian" currency

For me to promote a GOOD TECHNOLOGY is not to be "self serving" when it is fundamentally true. I am merely attempting to relay to you, that which is inevitable. And you need to see clearly. Actually, you need to CHOOSE to "see". That which we all know MUST be "done" to save the economy. And I am (in all truth) relaying personal information from the street regarding the "ease" of fraud. And I am saying, "Current Banking Systems have FAILED US." You know it. I know it. We all know it. It has failed us in any way you can imagine. (And they make the rules.)

Trust me, ..I'm not a doctor, ...but I play one on TV.

"Trust me", I'm a sexy girl in a sexy swimsuit selling you beer. SO PAY ATTENTION, like you are trained to by your TV. "Trust me", I am your central main-dream news. "Trust me" I am your politician who has been voted into office using MORE (corporate) MONEY just in my campaign than YOU will make in a lifetime as an "average" American citizen... (when I'm supposed to be a PUBLIC 'servant').

"Trust me, ... I am your Central Banker. And, YES... the economy is perfectly fine."
"Trust me. No we have not doctored the figures."

But in all seriousness. The only "problem" that BitCoin actually has? In reality? Is that it actually implements security PROPERLY.


So, What does it mean, that your credit info is so vulnerable?

Now you are not just exposing the technical security credentials within the credit card or debit card, but you are exposing elements of YOUR PERSONAL identity attached in a weak form of security those cards are based upon. "Elements", that- when enough of them are collected, you now become a victim of identity theft. This is yet another self-reinforcing self-paying industry within this financial system. "identity protection"... which is darn near impossible to do with this technology. But they will gladly take your money for a monthly payment in THAT... as well.

You see- in the "business" of Life-Lock... they KNOW your identity is not safe. Can not be safe. And will NEVER be safe.

So Life-Locks income is absolutely assured within this paradigm. And the public just eats this stuff up. And I hate to tell you folks, but Life-Lock??? is a Parasitic Business. Which does NOT "solve a problem".

Life Lock BENEFITS from a problem.... Nay... it does not even wish to fix it.

"Life Lock" would have NO BUSINESS whatsoever $6 if your identity was not involved with each transaction in your life! Also, the ONLY THING that life lock actually does is attempt (a little bit) to help you clean up the mess after it has happened. All "Life Lock" actually does (usually) is inform you. "Hey, the horses have left the barn..." Too late. The theft has happened.

Because the baseline technology it is based upon is too fragile. Your identity is NOT "safe" with any of this... anywhere. Not really.

Bank-credit cards expose you to both theft, and identity theft. And all over the internet someone is trying to sell you some service associated with "protecting" your identity. When that - "protection" - should be automatic and freely available and merely part of the operational system.

Ladies and Gentlemen... there is MORE white-collared crime (to the tune of TRILLIONS of dollars) going on using American Currency, than in any other time in history. So, don't you find it a tad "suspicious" that a 'small and worthless' currency (like Bit-Coin with a market-cap of about 4Billion right now...) would be resisted or fought like a demon-from hell... just from the philosophical standpoint? So I suggest the implication of it being "primarily" a tool for "criminal activities"... highly...



" We want to 'strengthen' the financial system- " [Bernanke]

So... how 'strong' IS that financial system Mr. Bernanke?

It's very difficult for people to see the comparison, when they do not understand BitCoin and to also understand that BitCoin transactions HAVE ... NO ... IDENTITY ... ON .. THEM. And this is by design. The security is planned and implemented by the very people who design security for the current banking systems... except they got tired of "enabling" the Foxes, who guard the hen-house. And they know... they "know in their bones"... that the "system is broken", and does not work properly- as intended.

So they implemented the security PROPERLY, by cutting out... the crafty foxes, who are causing this entire problem. The "foxes" leave it as insecure, and they will FIGHT a truly secure system. Because it cuts THEM (the crafty foxes) "out" of the loop, as well as the simple thief.

To quote one fellow whose entire life is now devoted to the open-sourced BitCoin movement. He used to work within security, as a programmer for banks until (in 2011) he "saw the writing on the wall" and he got TIRED of enabling the "Foxes" and went to join the other team. To quote him directly he "got tired of creating 'JUNK' that did not work." So he is now entirely invested in BitCoin. Because he WANTS to be on the right side. (Not the side that is destroying our economy.)

He wants to create a security situation that does not complain AFTER the horses have left the barn.


Each individual BitCoin transaction is precisely THAT

Each individual transaction within the BitCoin public ledger, gives a merchant a specific amount of value. Given by YOUR consent.

And NOTHING else. Ever.

And by your willing cooperation and consent in that transaction, NOBODY, can not EVER charge your account... Again.

THAT, is how BitCoin is designed.

And yes, it is the THIEVES that will not like that fact.

More importantly you MUST ask yourself "why is it that banks and credit cards and other financially active entities HAVE all this "power" with my account? Why am I left in the dark on this?" ... And the frightening answer is this, my friend. YOU GAVE THEM PERMISSION TO HAVE YOUR IDENTITY as well as ACCESS TO YOUR ACCOUNTS. And it says so somewhere on some document that you "signed off" on.

(or that you silently consented to)

A BitCoin transaction gives permission for just THAT exclusive transaction.

They can not get money from your account EVER again, because it was your own choice to PUSH a specific value out of your account, to the vendor. And that is all that you ever signed up for, or consented to. And with BitCoin your "digital signature" cannot be forged, due to the inherent encryption technologies involved. It is beyond common banking-card technologies in use now.

BitCoin inherently does not expose you to theft or identity theft. When you operate with BitCoin, all of the rules of the game now change. And the thieves do not like that.

So I ask you again to analyze intelligently....

WHO.... is "complaining" about BitCoin? LOOK at who... complain about it as "unsafe". Or the ones who complain about it being "unproven".

And when they tell you that "nothing backs" BitCoin? Go LOOK at what's "behind" the American Currency for real.... Because American currency is just as arbitrary (and "empty") as BitCoin is.

The difference is.... WHO CONTROLS THE CURRENCY?

Then get BACK to me.

"The public is DISGUSTED, with wall-street bail-outs" [Warren]

Refer to Alternate Media Sources (the Internet)


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