There is also technical evidence showing he appears to have throttled back his own miner, early on, to make it easy for others to claim rewards when no one else wanted to participate in the fledgling network. As he chose not to personally gain from the invention. It all suggests that personal wealth was never his goal. Nakamoto being an ET may also explain why he permanently cut ties with humanity after Gavin Andresen publicly announced he was going to brief the CIA about Bitcoin. Is there any way to receive insight on this revelation while respecting Nakamoto's privacy?
For higher inspiration, Google and read the short essay, "The Legendary Treasure of Satoshi Nakamoto" by Tomer Strolight and see if it speaks to you. Thanks.
A. I must first say the Legendary Treasure is quite interesting. It is worth the read (thank you to the person that made the suggestion).
I've thought about Bitcoin and cryptos for a long while now. As I proceed I may use the term Bitcoin interchangeably with cryptos, but I am compartmentalizing them as one in the same as Bitcoin truly is the father of all cryptos. The rest are merely copy cats trying to hop on the bandwagon of what Bitcoin pioneered.
When it first emerged it took a while for me to see how there was a worth in something created from nothing except electrons. How could any form of currency establish itself out of trading a number code back and forth? The only worth is the implied worth and the value is what someone is willing to pay. I could not understand how there was anything valuable in something that is not tangible. You cannot smell, eat or touch a crypto, but if someone perceives a value you may be able to trade some for a burger. The whole concept baffles me (and to some degree still does).
It took me some time to conceptualize that the value exists because the block chain is a unique code and limited. It is also (currently) anonymous in that it is a block chain, and not tied to a person. It is a way to buy, sell and invest in something independent from the stock market which is completely manipulated.
The story behind Bitcoin is interesting, but I sense it came about in a different way than the essay suggests. (Take a breath. This is a "don't shoot the messenger" type post - WARNING)...
I see the CIA or government being involved in the creation of this crypto just like the CIA created Facebook. Evil people have an uncanny ability to play the long game and think ahead of their time. Most government factions need a great story and a face for their agendas to be accepted. Bitcoin was no exception. Our government knows that our fiat currency is on the decline and needed a way to get people to buy into electronic currency. It was difficult to know how well it would be received or how many will participate, so it took time to work through this experiment.
They were smart in that they did this with block chain technology to keep many things private. It made this type of investing appealing. People bought into this, and it was a "safe" way to invest money and to diversify funds. People got used to it, and many made a LOT of money. People on the ground level were rewarded well for their risk (and I suspect much of the ground level was tied to the CIA experiment to help lead the herd and make money. Evil people tend to take care of one another.).
The more the stock market fluctuated, the more people looked for alternatives. Cryptos and the money people were making pulled more people in. This whole concept took off, and took off quickly.
Before you think what I am describing is not possible and would not benefit the government, let's go a step further.
It used to be that you could convert your crypto into dollars and withdrawal from your crypto wallet. It was a little convoluted, but not too difficult. You may need ID to use your wallet, but the trading could be done freely. The money made was somewhat confusing to the IRS and tax implications were in the gray area. Was it net gains, investment income, regular income, how was it taxed? There was also a lot of self reporting which brought a smile to the face of many people as well. (You know who you are, wink, wink.)
Fast forward to present day. NOW people are more comfortable with cryptos. They gained enough confidence that many people could now trust this type of investing and holding of money. It was also wonderful that the government may not know what you deposit and what you trade, BUT do you know what they DO know? They know they moment you take it out of your crypto wallet and put it your bank. They could care less what you invest, they care about what money you have in liquid cash, so they monitor the crypto wallets and what is converted back to liquid funds. It is sort of like having liquid money put into a jail, but once it is free they want a part of it.
Go ahead and start to liquidate a crypto account. At one point it was throttled to $10,000 a day. I've had clients that live abroad recently share they were limited to $1000 a day. If you have a lifetime of investment or a 401k conversion in cryptos, that could take a LONG time to withdrawal and have true access to your money. And make no mistake, they now issue reports that need to be reported with income on your taxes. The government will still get their cut and knows what you have access to. And you money is held in electrons that can be shut down (watch your social score).
If you play cryptos right, you can make money. Getting access to it is another story. I say do your research.
Blessings,
Lynn
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4 comments:
So the CIA invented the story that Bitcoin was created by an ET from Japan? It's the first time I've ever paid any attention to Bitcoin which I always thought was a scam. I do like the idea of an ET trying to help humanity by developing an equitable currency. Wouldn't it be nice if everyone could be remunerated or have money taken away based on their contributions to or crimes against society not connected to just holding a job? That way the exploitative wealthy businessmen, those getting rich playing the stock market while contributing nothing and crooks would would have their accrued money limited or even taken away by a morality tax. I just saw the Swiss are making watches that can cost up to $10 million which to me is a sign of a sick society out of balance.
That was a great explanation of the way they play both sides of the fence, and we’re duped again just like our company pension plans. They can use our money but we are penalized if we withdraw it from our accounts.
Bitcoin is at $42,000 right now, it the highest was about $65,000 three years ago, I wonder how many Congress people got rich
from this?
@Robert and RealCousinIT: Yes, this was convenient for them and yes, the cost of things if absurd. I'm sure quite a few got rich for being willing to participate.
Hi Lynn, it looks like it’s been a year since we’ve talked about the housing market (Nov ‘22) was your last post. You said there is a slow and steady plan to make owning property difficult, which we are definitely seeing. It seems like a crash is inevitable, but maybe it’ll just keep getting worse? What do you see for 2024? Thank you!
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