The $1,000,000 tell…


Here’s the "million dollar" tell, as plain and clear as it will ever be: @28:52 "There are very unique tough challenges for law enforcement when it comes to virtual currencies. I gave the example of, it’s very hard to transport $1,000,000 in hard currency overseas. You can’t just put it in a backpack and get on a plane very easily."

Notice the use of the term "law enforcement" is liberal. Tacitly implying actual illegal activities that would require movement of money "overseas", to get the listener to conveniently envision terrorism or drug trade, when in fact their real worry is about enforcement of containment of U.S. citizens and the wealth that "they didn’t build."

It is plain to see this is the primary concern of regulators and other statists when it comes to bitcoin. This is also IMO the real reason for the TSA and pat downs. Our government is very concerned about emigration and "wealth leakage."

FATCA, tightening cash deposit and withdrawal controls at banks, and of course all discussion of draconian bitcoin legislation tell the same story. This is the losing battle regulators and "leaders" are fighting.

They are protecting their vig, their system of corruption, their confiscation of production all the while claiming they are trying to protect the consumer while fleecing them. This is the heart of the scam. I hope we can get this message out to more people as many seem blind to the true intentions of centralized power.

The good news, just like with bittorrent they will lose. Chalk another one up for technology begetting liberty. Next hurdle, the unstoppable, un-switch-offable citizen mesh-net. I have a feeling we are going to need it soon.

submitted by jimmajamma
[link] [9 comments]

from Bitcoin


OKCoin Confirms New Three Billion Euro Hedge Fund Trading on Exchange


Flibbr, a bitcoin-based marketplace, recently hosted a Google hangout session with two members of the OKCoin Bitcoin exchange: Zane Tackett and Chief Technical Officer Changpeng Zhao. During the hangout, Zhao commented on an upcoming hedge fund trader with an enormous amount of money to trade. Zhao said: “Also very exciting, we have a new client. […]

The post OKCoin Confirms New Three Billion Euro Hedge Fund Trading on Exchange appeared first on CryptoCoinsNews.

from CryptoCoinsNews

My first reddit post is my Bitcoin story


Long time listener, first time caller here..

It was around this time last year that I dove face first into bitcoin. I’ve heard the term in passing while watching YouTube videos on the inevitable collapse of the US dollar and the subsequent implementation of marshal law. Every time I would watch these oh so light hearted presentations, along with impending doom, I remember always having the same mixed feelings. I was constantly torn between a compulsion to combat the tyranny of the Federal Reserve’s big banking system or surrender to the herd mentality, which most of us live by. What was a lowly peasant like myself to do? Well, after reading "the" white paper, and a few thousand videos later, I slowly began comprehend what bitcoin was all about. Finally, even though minute in scale, there was a way the average schmuck could finger the Fed, without actually ending up in prison.

So I started with coinbase(since it was a little cheaper than Mt.Gox), jumped through all the flaming hoops of verification, and started purchasing small amounts of Bitcoin. After that, I indulged my curiosity in cloud mining with and even purchased some cryptostocks from the site of the same name. Albeit, these were some expensive lessons to learn. In hindsight, more research was in order, however the active participation morphed into a fix. I began reading as much as I could, studying charts, I even the I posted a few nooby questions and ideas on Bitcoin discussion forum. Most of my comments and questions were met with technocratic arrogance, which is fine. A couple things that new users should keep in mind:

1.Never let anyone discourage your search for knowledge and truth, because guess what, this technology is so new that anyone who acts like they know it all, are typically full of poo.

2.Ask questions, make suggestions, help each other out. The more people that get involved can only make this community stronger. Lets face it, this is not designed to be an elitist social club. More widespread adoption and understanding adds value to the network.

So much for keeping this short…but in closing I just want to touch upon what researching bitcoin has done for me and will hopefully happen for others. We are talking about, philosophy, mathematics, economics, cryptology, computer science, and that’s just the surface. Once I got passed the frustration of not having a PhD in these fields and just soaked in as much as I could, at my own pace, I noticed that my mind started exploding with ideas and possible applications. For example, one of the first things I realized was that information could be time stamped in the blockchain. Being an advocate of free speech, this fact is monumental for me. Moreover, since the mainstream media is so controlled anymore, I believe that peer to peer connections are the way to truly stay informed these days and the next to come. Substantiated or not, I already get my news from my facebook feed and similar sites.

Furthermore, it’s not just about the paradigm shift of power. I don’t really like the term de-centralized. We are not simply moving away from something that is centered, and on to it’s polar opposite. This is something totally new. I’m akin to words that sound more proactive and fresh, because this stuff really is so very new and fresh gentlemens. The fact that anyone in the universe can participate makes it more than just de-centralized. For me, it makes it universalized.

I hope someone likes my little story. I am obviously not the most academic or technical person, so there was some trepidation that led to hesitation on my part for posting anything on reddit. But I’m glad to be over that now and I aspire to share more. Maybe some folks will be encouraged to do the same. The more voices and ideas the better.

submitted by snakus44
[link] [5 comments]

from Bitcoin