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Will Cryptocurrencies Make Governments and Central Banks Obsolete? (Video)

Monday, November 20, 2017 4:41
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(Before It's News)

A cryptocurrency is a digital or virtual currency that uses cryptography for security. A defining feature of a cryptocurrency, and arguably its most endearing allure, is its organic nature; it is not issued by any central authority, rendering it theoretically immune to government interference or manipulation.

A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency.

By design, the blockchain is a decentralized technology. A global network of computers uses blockchain technology to jointly manage the database that records Bitcoin transactions. That is, Bitcoin is managed by its network, and not any one central authority.

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  • Counter Analysis

    I believe crypto currencies are a deep state creation undergoing beta testing and being marketed as a hedge against deep state tyranny, and central bank abuse. People are being acclimated to digital currency with bitcoin and its ilk. It is now moving from the untrustworthy fringe into public acceptance and positive approval. Block-chain tech is being touted as the new sexy with multiple applications in the works.

    People don’t realize the danger of this trend. Once governments and ultimately world govt adopt or transition to bitcoin like currency, they will have more control than ever over everyone’s holdings. You can be sure govt will have direct access to tax, confiscate, impose negative interest rates, and manipulate or inflate to any degree imaginable.

    I also see this as a very clear precursor to the mark of the beast system of buying and selling. It will likely be sold as a solution to massive world economic collapse. The world will panic as commerce and food deliveries grind to a halt. Then the miraculous new system will be rolled out to manage the emergency and start over. Those who lost everything to the banks will be happy to receive some portion of credit with the new digital currency. Others, who had nothing, will be given guaranteed income to kick start the economy and avoid starvation and homelessness. What a miracle this new paradigm in commerce will be! It doesn’t matter whether it’s sustainable; govt can keep it going and lube frozen commerce for a very long time just as they have with central bank chicanery.

    • DK

      Quite the opposite, Crypto has been with you since the advent of VISA and electronic banking where before transactions had to be done across a secure encrypted network between trusted platforms between banks and their customers, this has moved into the creation of an encrypted token which does not need the encrypted networks or the banks. The value of the token has been inflated to a ‘free’ market value which is in the terms of an unregulated trade outside the control of government and/or private entities which control government – allegedly, which in truth is just a cover for the more speculative hedge funds outside the pack investing and running some scams on the side. You got your ‘mark of the beast’ when you took a social security number or any ID. Money despite the serial number does not identify who holds or spends it, only that it is valid or good money in a trade. In reality you cannot get rid of government, since someone must regulate and enforce trust in money, that is necessary trade. If you go back, you have Abrahamic Covenant(from the Mosaic) requiring enforcement, you therefore have created government which required funding. You therefore cannot ever have a non taxation society, you just move it to unseen taxation.

      You either have secure currency money such as tally sticks or insecure money such as Fiat or gold which eventually devalues. Yes gold is insecure, Goldsmiths lent out 6 times their stock which often as not was someone elses in their care.

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