Massive Attack on Bitcoin -- Bill Still Report

The Mt. Gox shutdown is spreading thru the Bitcoin world. Can it be stopped?
If crypo currencies end up carrying a significant percentage of the world's economic activity (and I think they will) then governments are going to have to tax a lot more heavily if they expect to maintain their current rate of expenditures. The central bank scam is a way of throwing a heavier tax burden on the citizenry than people understand. It's a hidden tax of course. And if the real tax burden (which includes inflation) were known it would cause a decrease in taxable economic activity, and drive some currently taxable activity underground. Go Fedora and their bitmixing wallet feature.
I'm all for Quark doing well

 

 

 

There is a vested interest by the owners of the MATRIX to destroy all Cryptocurrencies because they see them as the biggest threat to the foundation of their SCAM, namely Fractional Reserve Banking.
Banking and currency itself are based on TRUST.   If it is undermined then people won't use them, and they know that, so I am sure The Financial Cabal who are milking the world of its wealth unrelentingly every moment of our existence, are paying all sorts of hackers to find any weakness to shoot down this threat to their control.

So the question we have to post is:  Are we better off without any currencies at all?

IS THERE A WAY WE CAN TRADE WITH EACH OTHER WITHOUT USING THIS MEDIUM CALLED MONEY THAT HAS BEEN USED FOR SO LONG TO RIP THE REAL PRODUCERS OF WEALTH OFF??

Money as a medium of trade has always been highjacked by those who create it to benefit them against the interests of the producers of real wealth, who need it to trade in the process of real wealth creation.
According to Thomas Greco in his book THE END OF MONEY and the FUTURE OF CIVILIZATION yes it is possible by using credit exchange centers set up by the community itself as it has been sprouting spontaneously in many Greek Towns today during the crisis.
Anthropologist David Graeber in his book DEBT: The Fist 5,000 Years, explains this form of trading has been used around the world for hundreds of years, even in times of the Roman empire the Phoenicians kept using it in the Mediterranean while Roman coins were traded at the same time.

THE SECRET TO MONEY IS TO MAKE IT WORTHLESS and ONLY useful to measure the value of things when trading.   Regular money can't do it, but a credit exchange can.

The question is how to design a way to STORE wealth without falling into the same problems we have today with money?.   This is where Cryptocurrencies can be handy, but we have to carefully design them to fulfill this purpose.   Bitcoin has shown to be a Ponzi scheme.

Making money with money IS the problem.   In other words: obtaining profits by merely lending or investing money without PRODUCING wealth in the Real Economy has to be stopped.
1-  Real Wealth is the product of manufacturing things that satisfy human needs, hence the Real Economy
2-  Fake wealth is that which is the product of speculation with money without creating ANYTHING material to satisfy human needs.

Fake wealth steals value from Real wealth.   This is how all the benefits from productivity gains have ended up at the top 0.01% of the population.

So before we design a new currency we have to stop and ask exactly what features we want that currency to have.
1- Zero intrinsic value, just like a measuring tape measures an area without the tape itself being used to speculate with.
2- Always just enough to satisfy all the economic requirements for trade.   No more bankruptcies because of a lack of currency, neither artificial bubbles inflating the value of things because of too much currency in circulation.
3- A stable form of storing wealth easily transportable and secure.

We have our job cut for us to fulfill these needs and become truly free in the process.