The Weekend Interview With Gavin Andresen: Bitcoin vs. Ben ...

TIL Bitcoin is controlled by central bankers.

Digital Currency Group owns BlockStream which controls Bitcoin Core. The controllers of DCG are old school central bankers which is why Bitcoin is shit now. If you are a bitcoin holder please sell for Bitcoin Cash. Make these people lose all their money plz. (this is a cut and paste from another post on /BTC)
http://dcg.co/who-we-are/#board-members
  1. Glenn Hutchins: Former Advisor to President Clinton. Hutchins sits on the board of The Federal Reserve Bank of New York, where he was reelected as a Class B director for a three-year term ending December 31, 2018. Vice-Chairman of Brookings Institue. On advisory board with Ben Bernanke and Hank Paulson.
  2. Barry Silbert: CEO of Digital Currency Group, (funded by Mastercard) who is also an Ex investment Banker at Houlihan Lokey. This is the guy who thought SW2x was a good idea.
  3. Lawrence H. Summers: "Board Advisor" "Chief Economist at the World Bank from 1991 to 1993. In 1993, Summers was appointed Undersecretary for International Affairs of the United States Department of the Treasury under the Clinton Administration. In 1995, he was promoted to Deputy Secretary of the Treasury under his long-time political mentor Robert Rubin. In 1999, he succeeded Rubin as Secretary of the Treasury. While working for the Clinton administration Summers played a leading role in the American response to the 1994 economic crisis in Mexico, the 1997 Asian financial crisis, and the Russian financial crisis. He was also influential in the American advised privatization of the economies of the post-Soviet states [a massive FUD campaign that caused Russian citizens to sell their shares in public companies - these shares were purchased by Oligarch bankers with ties to Western Banks], and in the deregulation of the U.S financial system, including the repeal of the Glass-Steagall Act." https://en.wikipedia.org/wiki/Lawrence_Summers
  4. Blythe Masters: "Former executive at JPMorgan Chase.[1] She is currently the CEO of Digital Asset Holdings,[2] a financial technology firm developing distributed ledger technology for wholesale financial services.[3] Masters is widely credited as the creator of the credit default swap as a financial instrument. She is also Chairman of the Governing Board of the Linux Foundation’s open source Hyperledger Project, member of the International Advisory Board of Santander Group, and Advisory Board Member of the US Chamber of Digital Commerce." https://en.wikipedia.org/wiki/Blythe_Masters
thanks Scott_WWS: https://www.reddit.com/CryptoCurrency/comments/7cdg79/each_side_accuses_the_other_of_being_centralized/
EDIT: Their greed cost the US approx $22 Trillion. This is much bigger than Roger Ver & some miners in China vs Bitcoin Core. What is at stake is the future of the global economy.
EDIT 2:

TL;DR Bitcoin was created in response to the 2008/2009 Global Financial Crisis. Bitcoin (BTC) is now controlled by those who were instrumental in creating the crisis. (By "crisis" I mean theft of billions (trillions?!) of dollars)

submitted by outbackdude to conspiracy [link] [comments]

TIL Blockstream is controlled by ex-JP Morgan, Federal Reserve, Mastercard Banksters. Spread the word.

http://dcg.co/who-we-are/#board-members
  1. Glenn Hutchins: Former Advisor to President Clinton. Hutchins sits on the board of The Federal Reserve Bank of New York, where he was reelected as a Class B director for a three-year term ending December 31, 2018. Vice-Chairman of Brookings Institue. On advisory board with Ben Bernanke and Hank Paulson.
  2. Barry Silbert: CEO of Digital Currency Group, (funded by Mastercard) who is also an Ex investment Banker at Houlihan Lokey. This is the guy who thought SW2x was a good idea.
  3. Lawrence H. Summers: "Board Advisor" "Chief Economist at the World Bank from 1991 to 1993. In 1993, Summers was appointed Undersecretary for International Affairs of the United States Department of the Treasury under the Clinton Administration. In 1995, he was promoted to Deputy Secretary of the Treasury under his long-time political mentor Robert Rubin. In 1999, he succeeded Rubin as Secretary of the Treasury. While working for the Clinton administration Summers played a leading role in the American response to the 1994 economic crisis in Mexico, the 1997 Asian financial crisis, and the Russian financial crisis. He was also influential in the American advised privatization of the economies of the post-Soviet states [a massive FUD campaign that caused Russian citizens to sell their shares in public companies - these shares were purchased by Oligarch bankers with ties to Western Banks], and in the deregulation of the U.S financial system, including the repeal of the Glass-Steagall Act." https://en.wikipedia.org/wiki/Lawrence_Summers
  4. Blythe Masters: "Former executive at JPMorgan Chase.[1] She is currently the CEO of Digital Asset Holdings,[2] a financial technology firm developing distributed ledger technology for wholesale financial services.[3] Masters is widely credited as the creator of the credit default swap as a financial instrument. She is also Chairman of the Governing Board of the Linux Foundation’s open source Hyperledger Project, member of the International Advisory Board of Santander Group, and Advisory Board Member of the US Chamber of Digital Commerce." https://en.wikipedia.org/wiki/Blythe_Masters
thanks Scott_WWS: https://www.reddit.com/CryptoCurrency/comments/7cdg79/each_side_accuses_the_other_of_being_centralized/
EDIT: Their greed cost the US approx $22 Trillion. This is much bigger than Roger Ver & some miners in China vs Bitcoin Core. What is at stake is the future of the global economy.
EDIT 2:

TL;DR Bitcoin was created in response to the 2008/2009 Global Financial Crisis. Bitcoin (BTC) is now controlled by those who were instrumental in creating the crisis. (By "crisis" I mean theft of billions (trillions?!) of dollars)

submitted by outbackdude to btc [link] [comments]

Greg Maxwell has now publicly confessed that he is engaging in deliberate market manipulation to artificially suppress Bitcoin adoption and price. He could be doing this so that he and his associates can continue to accumulate while the price is still low (1 BTC = $570, ie 1 USD can buy 1750 "bits")

https://archive.is/55VtA#selection-301.128-301.394
Greg Maxwell: If you imagine that everyone in the world would wake up tomorrow and know in their heart of hearts that bitcoin would be the true reserve currency of the world, then this would not be good news. The result would be war. People would fight over the supply of bitcoin.
The above statement is a surprisingly revealing admission by Gregory Maxwell (self-appointed dictator of Bitcoin monetary policy CTO of Blockstream, and architect of the Core stalling scaling road-map signed by 57 devs and wannabe devs).
It is quoted from the transcript of the invite-only, semi-transparent (manually transcribed, not recorded) Fed meeting private meeting between Core/Blockstream devs and Chinese miners, held in Silicon Valley on July 30-31, 2016.
There is only one way that a trader (or a regulator!) would interpret the above statement by Gregory Maxwell nullc, where he (perhaps inadvertently but) openly admits that he is trying to prevent a free market where "people would fight over the supply of bitcoin".
Greg's statement constitutes a clear and damning admission of attempted market manipulation, as typically used for activities such as insider trading, and front-running - which are illegal in regulated markets.
Greg Maxwell has now publicly admitted that he is attempting to artificially suppress Bitcoin adoption and price, in the short term.
Maybe he is doing this so that he and his associates can continue to accumulate while the price is still low (1 BTC = $570, ie 1 USD can buy 1750 "bits" - where 1 BTC = 1'000'000 "bits").
Or maybe Greg - and his buddy Adam Back, President of Blockstream - could simply be doing this for any number of reasons related to their ignorance of how economics and politics actually work with open-source currencies.
Either way, this kind of centralized market manipulation is outrageous.
It should not be tolerated in any market in a publicly traded asset - whether regulated or unregulated.
By the way, as we all know, the total supply of Bitcoin is 21 million BTC, or 21 trillion "bits" - which is similar to total money supply for many other measures of currency or wealth (ie, in the tens of trillions of units).
And as we also know, many measures of total world currency or wealth are also in this same range: around 10s of trillions of units (ie: dollars, etc.).
This suggests that (for people who, in Greg's words, already "know in their heart of hearts that bitcoin would be the true reserve currency of the world"), the current price of 1 USD = 1750 "bits" (market-manipulated by Greg Maxwell) is ridiculously low - ie, it's a "steal".
So, people who are currently "short" on bitcoin (ie, they want to buy more), might be thankful for Greg Maxwell's market manipulation - where he is exploiting his position as self-appointed dictator of Bitcoin Blockstream CTO, to engage in central planning in order to manipulate the market, by artificially suppressing Bitcoin adoption and price a while longer (by forcing his "tiny-blocks" approach on everyone: the notorious 1 MB "max blocksize") - simply because he can and he wants to.
Meanwhile, in a regulated market, this sort of blatant centralized "insider influence" on a publicly traded asset class or currency would be illegal.
The only reason Blockstream is able to get away with this kind of crime bullshit is because Bitcoin is unregulated - and the only people who can stop them at this point is us: the Bitcoin community.
For the record, I believe the following:
  • Government interference with Bitcoin would be wrong.
  • Market manipulation of Bitcoin, by artificially suppressing adoption and price, as practiced by Greg Maxwell, is also wrong.
  • The Bitcoin community can and should regulate itself - by letting the free market determine things like what code to run, what "max blocksize" (if any) to adopt - which will in turn naturally determine Bitcoin adoption and price.
So, this public admission of market manipulation by Greg Maxwell constitutes yet another reason why the community should reject his attempt to become some kind of self-appointed dictator for Bitcoin.
Specifically, we can and should use other code (not developed by Greg Maxwell and his minions at Core/Blockstream) which does not impose an artificial 1 MB "max blocksize" - which repeated studies have shown is far below the blocksize supported by our current technology (which would be up to up to 4 MB according to the Cornell study - or even 20 MB, using u/Peter__R's proposed "Xthin" approach).
For additional background, below are 3 previous posts from last week, regarding Core/Blockstream's centralized, behind-the-scenes manipulation of Bitcoin adoption and price:
https://np.reddit.com/btc/comments/4vfkpthe_fedfomc_holds_meetings_to_decide_on_money/
The Fed/FOMC holds meetings to decide on money supply. Core/Blockstream & Chinese miners now hold meetings to decide on money velocity. Both are centralized decision-making. Both are the wrong approach.
Having a "max blocksize" effectively imposes a "maximum money velocity" for Bitcoin - needless central economic planning at its worst.
We should not be waiting for insider information from Ben Bernanke or Janet Yellen or some creepy scammer named u/btcdrak or some economically clueless kid like u/maaku7 in order to determine how our financial system operates.
https://np.reddit.com/btc/comments/4vgwe7/so_on_the_expiration_date_of_the_hk_stalling/
So, on the expiration date of the HK stalling / non-scaling non-agreement, Viacoin scammer u/btcdrak calls a meeting with no customer-facing businesses invited (just Chinese miners & Core/Blockstream), and no solutions/agreements allowed, and no transparency (just a transcript from u/kanzure). WTF!?
Bitcoin's so-called "governance" is being hijacked by some anonymous scammer named u/btcdrak who created a shitcoin called Viacoin and who's a subcontractor for Blockstream - calling yet another last-minute stalling / non-scaling meeting on the expiration date of Core/Blockstream's previous last-minute stalling / non-scaling non-agreement - and this non-scaling meeting is invite-only for Chinese miners and Core/Blockstream (with no actual Bitcoin businesses invited) - and economic idiot u/maaku7 who also brought us yet another shitcoin called Freicoin is now telling us that no actual solutions will be provided because no actual agreements will be allowed - and this invite-only no-industry no-solutions / no-agreements non-event will be manually transcribed by some guy named u/kanzure who hates u/Peter__R (note: u/Peter__R gave us actual solutions like Bitcoin Unlimited and massive on-chain scaling via XThin) - and as usual this invite-only non-scaling no-solutions / no-agreements no-industry invite-only non-event is being paid for by some fantasy fiat finance firm AXA whose CEO is head of the Bilderberg Group which will go bankrupt if Bitcoin succeeds. What the fuck?!?
https://np.reddit.com/btc/comments/4vl65n/remember_when_bitcoin_was_to_be_ruled_by_math_not/
Remember when Bitcoin was to be ruled by "math not men"? Whether you support bigger or smaller blocks, and whether you're "short" Bitcoin (you want the price to go down, so you can buy), or "long" (you want the price to go up, so you can sell) - you should still support decentralized governance.
...
The potential for manipulation
In the past, I've communicated with several experienced old-time traders and consultants from Wall Street regarding Bitcoin.
And many of them say they won't touch Bitcoin with a ten-foot pole because it's quite obvious to them that (in the absence of regulation), a new asset class like Bitcoin is horribly vulnerable to all sorts of behind-the-scenes manipulation.
They've seen it all before. They know all the ins and outs of how people with "insider information" can rig the market - and they can already see plenty of warning signs and alarm bells showing how easy it would be to pull off this kind of market manipulation in Bitcoin.
...
A handful of insiders can easily manipulate this "max blocksize" number - deciding whether and when and how it will get changed, and how much, and how often - so they could potentially manipulate the price - depending on their own personal preferences.
...
Is there a solution?
As you can see from all of the above, the main problem facing Bitcoin right now is centralized governance.
Of course, code inevitably does have to be (centrally) written by someone.
But there are things we can do right now to minimize the amount of centralized intervention in Bitcoin's code and governance.
Whenever possible, we can and should favor code which requires a minimum of centralized interference.
Core/Blockstream have basically spent the past year or two tying themselves up in knots, and disrupting the community and the market - and maybe even suppressing the price - due to their stubborn, selfish, destructive refusal to provide parameterized code where the market can set certain values on its own - most notably, the "maximum blocksize".
Meanwhile, code such as Bitcoin Unlimited (and also Bitcoin Classic, once it adopts BitPay's Adaptive Blocksize Limit) puts the "governance" for things like "max blocksize" back where it belongs - in the hands of the users, in the marketplace.
Using more-parameterized code is an obvious technique known by anyone who has taken a "Programming 101" course.
Everyone knows that parameterized code is the easiest way to let the market set some parameters - avoiding the dangers of having these parameters set behind closed doors by a centralized cartel of powerful people.
We can and should all work together to make this a reality again - by adopting more-parameterized code such as Bitcoin Unlimited or Bitcoin Classic.
This will allow us to realize the original promise of Bitcoin - where "The Users and the Market Decide - Not Central Planners."
submitted by ydtm to btc [link] [comments]

How the US government will regulate Bitcoin - just turn the miners into 'financial institutions'

This article appeared a couple of weeks ago. It describes how the "Building America's Trust Act" (S. 1757) would change the definition of a 'financial institution' in the U.S. Code (the compendium of Federal laws) to read:
(2) ‘‘financial institution’’ means—.....(K) an issuer, redeemer, or cashier of travelers’ checks, checks, money orders, prepaid access devices, digital currencies, or other similar instruments;"
It seems like this would turn every US miner and probably any US-based organization creating a digital currency into 'financial institutions' who would have to comply with all the related laws. It's also not clear whether 'other similar instruments' would include tokens, and how a distinction would be made as to which were securities and which weren't.
For those who want to look this up, here are links to: The text of S.1757. Scroll down to section 409(A)(1)(A) on page 250; and Section 5312(a)(2)(k) of the U.S.C.
You can follow the progress of S.1757 here.
This could be why Dimon and Bernanke think Bitcoin will end badly.
Sorry if this is a bit of a repost, but I think it deserves more attention.
submitted by jph108 to Bitcoin [link] [comments]

Bitcoin does not need a fees market.

I am tired of reading a whole lot of theoretical nonsense about a fee market for Bitcoin. It is economic gobbldegook. Some people are saying that capitalism and price discovery only work in a market situation. This is rubbish. Imagine the following conversation -
At the bank. Question, how much to send $100 to Australia. Answer, well it depends on how busy the network is. If we are busy it will cost you more if we are not busy then it will cost you less. You name an amount and we will see if it works.
At the hairdresser. Question, how much for a haircut. Answer, well $20 is usually enough but just a minute while I see if someone wants to pay more, if they do you will have to pay more too or wait.
At Western Union. Question, how much do you charge to send $50 to my impoverished friend in The Philippines. Answer, well if lots of people want to send $50 to the Philippines it will cost you a bit more. You have to guess and if it doesn't work, just pay a bit more and eventually it will work.
At the lawyers office. Question, how much do you charge to notarize this statement. Answer sometimes $10 and sometime $15. If you want to be sure then pay me $20 or if you want to save money pay me $5 but if you pay $5 I might not do it till next week or maybe I just won't do it at all.
At the Credit Card office. What are your fees on each transaction. Answer. That's up to you but if you don't pay enough we won't accept your transaction. Question, well how much is enough. Answer, I don't know it depends on how busy we are.
Clearly in all the cases above a fees market is not practical. What happens is the business sets a fee that enables them to make a profit, yet remain competitive and declares it up front. Any other approach would not be accepted by the vast majority of people.
I agree eventually Bitcoin fees will have to rise to keep the network secure. Trying to establish a fees market, particularly while the mining rewards are so high seems like a waste of time and energy. As mining rewards reduce, fees should rise by voluntary consensus of the providers (miners) to a level that is sufficient to keep the market secure.
When I first used Bitcoin the consensus was that the fee should be 0.001. Later this changed to 0.0001. There was no market to decide this consensus, just common sense as the value of bitcoin increased. Now my wallet tells me that 0.0001 fee will be included or if I want a higher priority then I can choose 0.0002. Great simple to understand and easy to execute.
If miners decide they need 0.05 to make it worth their while then they should say so. I can then decide to use bitcoin or swift or credit cards or whatever.
There is already a very efficient bitcoin market and that is the one that decides what the price of a bitcoin is. In the same way as the stock market decides what the price of a stock is. However my stockbroker charges a published fee to do the transaction. He is not stupid enough to try and establish a secondary market for his own fees. If he did, I would find a new stockbroker.
I am a firm believer that Economics is at best a soft science and at worst a load of cow faeces. I tend to the cow faeces end of the spectrum. The world economy has been totally screwed up by Economists with models that are never accurate and do not reflect reality. Chief screw ups being Alan Greenspan, Ben Bernanke and Janet Yellen.
Let's not let people like that screw up bitcoin.
submitted by PattayaPete to Bitcoin [link] [comments]

Bitcoin achievements

Explanation
All achievements listed below are permanent upon accomplishment and stack. Achievements earned years ago are still valid today.
Mining achievements
Solo miner
Mined a valid block all by yourself.
CPU miner
Earned at least 1 BTC using just your CPU to mine.
Creative miner
Built your own custom mining rig composed of graphics cards.
Lazy miner
Earned at least 1 BTC in dividend from investment in mining stocks.
Virtuous miner
Earned at least 1 BTC by mining in a pool that processes transactions with below standard transaction fees, thus helping out people whose transactions would otherwise get stuck.
Price stabilizer achievements
Silk road stabilizer
Bought when the price dropped during the Silk road crash.
Fork fighter
Bought during the 11/12 march 2013 blockchain fork.
Ponzi plunge protector
Bought during the August 2012 pirateat40 Ponzi scheme collapse associated price crash.
Holder
Helped preserve the value of Bitcoin by not selling any Bitcoin in the six month period following the 266 dollar peak. Only valid for people who actually had any Bitcoin before the peak.
Superholder
Helped preserve the value of Bitcoin by not selling any Bitcoin in the six month period following the 2011 peak. Only valid for people who actually had any Bitcoin before the peak.
Popularizer achievements
Mother Theresa
Gave away at least 1 BTC in donations and tips, expecting nothing in return.
Shopaholic
Spend at least 1 BTC on items not directly Bitcoin related.
Businessman
Sold at least 1 BTC worth of items not directly Bitcoin related using Bitcoin.
Spreading the seed
Sold at least 1 BTC through local Bitcoins.
Bitcoin hoarder achievements
Bitcoin hoarder achievements are permanent upon achievement, even if you later let go of your Bitcoin.
Club Bitcoin
Own at least 1 BTC.
Fabulous Five
Own at least 5 BTC.
Interested investor
Own at least 100 dollar worth of Bitcoin.
Serious speculator
Own at least 1000 dollar worth of Bitcoin.
I did it for the children
Invest at least 10.000 dollar in Bitcoin, on behalf of other people.
Number of achievements unlocked
0 - You are literally Ben Bernanke.
1 - You may be new.
2 - You have a serious interest in Bitcoin.
3 - You have a serious interest in Bitcoin, and probably a serious stake in its success as well.
4 - You have a serious interest and stake in Bitcoin, and are likely partly responsible for its success.
5 - You have helped make Bitcoin the success it is today.
6-9 - You are likely a developer, early adapter or institutional investor.
10+ - You are literally Satoshi Nakamoto.
submitted by rational to Bitcoin [link] [comments]

Subreddit Stats: top posts from 2013-05-02 to 2013-06-01 00:16 PDT

Period: 29.56 days
Submissions % Comments %
Total 1000 47511
Rate (per day) 33.84 1522.53
Unique Redditors 658 6162
Upvotes 117878 81% 229648 76%
Downvotes 26426 19% 69920 24%

Top Submitters' Top Submissions

  1. 2205 pts, 37 submissions: IWillNotBiteYourDog
    1. Thank You, Bitcoin Community | Electronic Frontier Foundation (245 pts, 33 comments)
    2. How 23-year-old Charlie Shrem became a millionaire through Bitcoin (224 pts, 266 comments)
    3. With $1.5M Led By Winklevoss Capital, BitInstant Aims To Be The Go-To Site To Buy And Sell Bitcoins (140 pts, 49 comments)
    4. Bitcoin now outguns all of Earth's supercomputers (132 pts, 53 comments)
    5. Why I Invested in Bitcoin - the Perfect Schmuck Insurance (128 pts, 53 comments)
    6. Should You Trade Bitcoin? An Expert View (106 pts, 88 comments)
    7. Why PayPal is bullish on Bitcoin (81 pts, 34 comments)
    8. [scam alert] Startup Company Cryoniks Ramping Up Production of its 1000 GH/s Bitmining Solution (76 pts, 11 comments)
    9. Government Will Be As Successful At Regulating Bitcoin As Its Been With File Sharing (73 pts, 38 comments)
    10. $1 billion in bitcoin was traded in April—16 times the previous record (69 pts, 3 comments)
  2. 1867 pts, 20 submissions: waspoza
    1. Coinbase Nabs $5M in Biggest Funding for Bitcoin Startup - WSJ (262 pts, 57 comments)
    2. Why Bitcoin will succeed - MarketWatch (226 pts, 136 comments)
    3. The Most Important Early-Stage Investor Of The Last 10 Years Just Made A Huge Bet On Bitcoin (224 pts, 27 comments)
    4. Why won’t Bitcoin die? (220 pts, 97 comments)
    5. Bitcoin will continue to function beyond the reach of government and law (177 pts, 40 comments)
    6. Peter Thiel & Founders Fund lead $2m funding round in BitPay (141 pts, 13 comments)
    7. Your Bitcoins Are Finally Worth Something | TechCrunch (127 pts, 107 comments)
    8. Bitcoin has a good shot at being the currency of the future (60 pts, 20 comments)
    9. A Hungarian company is about to launch an enterprise-class software product designed to make it easy for businesses to create bitcoin-enabled applications (60 pts, 1 comments)
    10. Bitcoin finding its feet at first Silicon Valley conference (54 pts, 1 comments)
  3. 1484 pts, 9 submissions: elux
    1. Bill Gates: "[Bitcoin] is a techno tour de force." Charlie Munger: "I think it's rat poison." Warren Buffett: "I think either Charlie or Bill is right." (669 pts, 348 comments)
    2. Bitcoin: This article is ranked 35 in traffic on en.wikipedia.org (365 pts, 43 comments)
    3. Three Million Milestone (163 pts, 31 comments)
    4. WSJ: The Weekend Interview With Gavin Andresen - Bitcoin vs. Ben Bernanke (89 pts, 19 comments)
    5. CNET | Winklevoss twins on Bitcoin: "Time to work with the Feds." (78 pts, 103 comments)
    6. LA Times: Bitcoin concept is gaining currency (42 pts, 5 comments)
    7. Avalon ASIC Batch #2 Unboxing (38 pts, 15 comments)
    8. Bitcoin Fund aims to make bitcoin investing easy (22 pts, 4 comments)
    9. BitcoinATM Presentation: The Demo (18 pts, 3 comments)
  4. 1379 pts, 3 submissions: circuitry
    1. ASICMiner USB mining farm (727 pts, 272 comments)
    2. Seems legit. (618 pts, 148 comments)
    3. ASICMiner's "official unofficial" Excel sheet has been updated with an estimated weekly pay-per-share column. It looks good. (34 pts, 24 comments)
  5. 1377 pts, 1 submissions: im14
    1. Thanks for bringing # of votes for Dropbox Bitcoin acceptance from 3,500 to 7,200, Reddit! However, we need at least 16,000 to get to first page! Please vote if you haven't done so yet. Thanks! (1377 pts, 121 comments)

Top Commenters

  1. ferroh (1674 pts, 340 comments)
  2. btchombre (1161 pts, 130 comments)
  3. theymos (1107 pts, 93 comments)
  4. throwaway-o (970 pts, 245 comments)
  5. 7trXMk6Z (921 pts, 256 comments)
  6. bitcointip (883 pts, 361 comments)
  7. TheSelfGoverned (804 pts, 254 comments)
  8. Lentil-Soup (721 pts, 269 comments)
  9. bitfan2013 (669 pts, 132 comments)
  10. ELeeMacFall (643 pts, 220 comments)

Top Submissions

  1. Thanks for bringing # of votes for Dropbox Bitcoin acceptance from 3,500 to 7,200, Reddit! However, we need at least 16,000 to get to first page! Please vote if you haven't done so yet. Thanks! by im14 (1377 pts, 121 comments)
  2. Dwolla no longer allowed to do business with MtGox! by Rassah (863 pts, 863 comments)
  3. PayPal shut my account down for giving away free bitcoins with purchases. by NikolaiRimskyK (847 pts, 171 comments)
  4. ASICMiner USB mining farm by circuitry (727 pts, 272 comments)
  5. Update: Over 6000 Fed by SeansOutpost (708 pts, 112 comments)

Top Comments

  1. 221 pts: hollando's comment in Dwolla no longer allowed to do business with MtGox!
  2. 218 pts: vuce's comment in Guys, really... Chill out.
  3. 154 pts: cunnl01's comment in My miner!
  4. 144 pts: gavinandresen's comment in Thank you Gavin!
  5. 144 pts: deleted's comment in Bill Gates: "[Bitcoin] is a techno tour de force." Charlie Munger: "I think it's rat poison." Warren Buffett: "I think either Charlie or Bill is right."
Generated with BBoe's Subreddit Stats SRS Marker: 1370070984.0
submitted by subreddit_stats to Bitcoin [link] [comments]

The Ledger Oligarchy: Bitcoin's NWO

The Ledger Oligarchy: Bitcoin's NWO 1PV5dzDJbwVgDsxt1sPHm8ehz5CUFX8zUz
(This is for entertainment purposes only)
“Trout, incidentally, had written a book about a money tree. It had twenty-dollar bills for leaves. Its flowers were government bonds. Its fruit was diamonds. It attracted human beings who killed each other around the roots and made very good fertilizer.” Slaughterhouse 5, Kurt Vonnegut
It is the year 3030. Bitcoin is dominated by few hands: The Rockefellers, the Rothschilds, the Carnegies, Warburg's & Nakamoto, according to YouTube.
Bitcoin had been an experiment in decentralized currency. But, by 3030, it had been adopted by the banking system which had reigned before it, and forever been changed.
Before this, an intermediate dynasty, the "old guard," had reigned for approximately 100 years: The dynasties of Andresen, Garzik, Ver & Mayer.
The abovementioned dynasty "Nakamoto" was created by splicing the genes of the so-called "old-guard."
That happened in 3020, the year the House of Winklevoss had their BTC wallet fortune hacked by a clone of Mayer Rothschild, whom had pulled the stunt while drinking whisky and entertaining a hologram of Johnny Depp, his favorite actor.
This could be seen by the public ledger, which had since began recording via laptop data as "extra-data."
The NSA (former US gov agency), it had been uncovered after the fall of the Great Mexican Border Wall while its offices were raided in a scene reminiscent of the Stasi offices in 1990, had actually stolen the code from Satoshi Nakamoto days before the protocol was to be released, and then released it itself and mined the genesis block. Nakamoto was devastated.
Satoshi Nakamoto had actually been hired by Ben Bernanke, a Federal Reserve (long story) President at the turn of the 21st century, who met Nakamoto at an orgy hosted by Google.
Nakamoto had covertly received bailout money during a bailout program in the US in 2008. He was high when he wrote the code and was given 49% stake in "Bitcoin" by Bernanke in the infamous communication intercepted by the NSA's "Follow The Money" division and later leaked by the Pravda of the time, the Genesis Block.com.
Although neither Bernanke nor Nakamoto knew who had hijacked the protocol, they were early in, and Bitcoin was deliberately helped by Bernanke's economic policies.
Over time, the block chain grew so large that few users chose to download its client on their machine.
Bitcoin wallets floating in the cloud became the preference of the usermasses: There was Wallet of America; US Wallet; Wallet Fargo; Deutsche Wallet and CitiWallet. There were a few others, but these were subsidiaries of the others.
Mining long ago had ceased to be profitable except for those who could implement it on a large scale due to indulgences in the form of charity to "The New Bitcoin Foundation," a liberal think-tank dedicated to BTC.
There was the Federal Miner, and central miners of all nations, all members of the Federal Miner System and united under the Miner of International Settlements. The United Nation-Wallets held a bug that had been created in the US in 2020, the year before its fall and resurrection as "NAW" (North American Wallet), known as the "Wallet Kill Switch." Nobody knew if it worked.
But, off-chain, The Resistance - the so-called "old believers" who had read on the Internet about a decentralized Bitcoin which died long ago - loosely organized.
They had their work cut out for them, for in school the users of different nation-wallets were taught normal users shouldn't ever download the blockchain, and be using wallets and other technologies. Each morning they convened in the school auditorium and sang a song to the school's offline wallet. The song went like:
"Ohhh, Satoshiii." (repeat 21 times)
Why 21 times? Nobody knew why. There were, in 3030, 32 million bitcoins in existence. On the eve December 24, 3021, the protocol had been "tuned-up" as Moderators on BitcoinTalk termed it.
All the users needed were bitcoins, not clients. Bitcoins had never been so easy to procure. All one had to do was go into one of the aforementioned banks, open an account, and presto. It took a couple days for the DNA test to come back, to be sure.
But, on the cusps of the gray culture, The Resistance did what they could to mine chips they themselves manufactured. There was risk in this, of course, as jurisdictions had state vans which drove around and detected excess electricity, such as would be used for mining bitcoins, growing marijuana or drying freshly printed $100 bills (these were sold as historical artifacts for $50. They were,after all, the last paper money). They were last used 110 years ago.
Electricity, also, cost an arm and a leg, sometimes literally. One had to have "blat" as the soviets called it - connections - in order to get electricity off-grid (not through the state provider). Still raids and mass power outages undermined this effort of The Resistance.
Unknown to The Resistance: they had help. Nakamoto had gained a sense of themself, and had stealthily began coordinating to return Bitcoin to its original state.
One night he bought 14 of the most beautiful prostitutes he could find on Backpage.com, a classifieds site. When they showed up, he realized they weren't ideal.
Still, the guards fell for it.
He had gained access to the protocol. He had already written a code, which was to return all coins stolen in the Crime Of 2018 when all Bitcoin users - except for those, of course, with access to Bitcoin Airlines - were purged. The coins were returned to their future families.
He then returned the protocol to the original 21 million coin programming, undid some other stuff, and typed a PR Web blast. The title of the Press Release?
"Chancellor Satoshi Nakamoto on brink of second end for banks"
It was dated January 3, 3031.
The Resistance understood. Nakamoto had referenced the note left in the code of the original Bitcoin protocol. Everyone knew that. In 3026 the headline had been changed to "Online wallets are safe."
The Resistance began travelling first to their families houses, then to their neighbors. Once there they downloaded Bitcoin-QT and began showing their loved ones how to use it and care for their savings.
The online wallets pushed for a bailout, but they had essentially been bankrupted when the code went back to the original 21 million coins because most of their profits had been from the Federal Miners "philanthropy" system of automated tax. They held little political clout.
Bitcoin-QT reached the number 1 spot on Google Trends for the first time in history.
submitted by SilverVigilante to Bitcoin [link] [comments]

Ben Bernanke - YouTube What is Bitcoin Mining?  Bitcoin Mining Explained  How ... Best Bitcoin Mining Software of 2020 Bill Still on Bernanke's Bitcoin Surprise BITCOIN vs RIPPLE ~ BEN BERNANKE & CENTRAL BANKS (SWELL CONFERENCE)( price bitcoin,crypto)

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Ben Bernanke - YouTube

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