A New Financial System is Being Born, by Michael Krieger

It’s probably time, in fact it’s probably past time, to start paying attention to cryptocurrencies. From Michael Krieger at libertyblitzkrieg.com:

If Bitcoin blew you away when you first discovered it, and continues to do so to this day, Spiral Dynamics can help explain why. Bitcoin was an expression in the physical world of the newly emergent leading-edge integral level consciousness. It drew lessons from history and attempted to take the best of orange and green worldviews and incorporate them into an entirely new form of money. We see the clear presence of free markets and individualism, as well as the intentional separation of the system from dominator hierarchies (bureaucratic government meddling), which had corrupted all money before it. Its greenness is evident in the fact that by design no individual or company controls the network. Global, decentralized, revolutionary technology. This is perhaps the perfect example of integral consciousness operating on our planet at this time from an economics standpoint, and why it has captured the imagination of so many, while at the same time being violently rejected by so many others.

From February’s post: Why Increased Consciousness is the Only Path Forward

Although I had heard about it much earlier, I didn’t truly start investigating Bitcoin until the summer of 2012. The more I learned the more my mind was blown away, and for a while I couldn’t think about anything else. What truly solidified its real world usefulness to me was when I discovered it had been used by Wikileaks to accept payments in the midst of a financial services blockade against the renegade publisher. This realization inspired my first Bitcoin related post in August 2012 titled, Bitcoin: A Way to Fight Back Against the Financial Terrorists? 

In that piece, I linked to a Forbes article that detailed the revolutionary events taking place. We learned:

Following a massive release of secret U.S. diplomatic cables in November 2010, donations to WikiLeaks were blocked by Bank of America, VISA, MasterCard, PayPal and Western Union on December 7th, 2010. Although private companies certainly have a right to select which transactions to process or not, the political environment produced less than a fair and objective decision. It was coordinated pressure exerted in a politicized climate by the U.S. government and it won’t be the last time that we see this type of pressure.

Fortunately, there is way around this and other financial blockades with a global payment method immune to political pressure and monetary censorship.

On its public bitcoin address, Wikileaks has taken in over $32,000 equivalent in more than 1,100 separate bitcoin donations throughout the blockade (1BTC = $10.00). But these amounts may be significantly higher, because it does not even include the individually-generated bitcoin addresses that WikiLeaks provides for donors upon request.

To continue reading: A New Financial System is Being Born

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3 responses to “A New Financial System is Being Born, by Michael Krieger

  1. Is there an inherent weakness in Bitcoin which tangible wealth such as precious metals do not have: precious metals or other physical tangible things are still there in your hand if the internet goes down?

    Or am I not understanding the idea of crypto currencies?

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    • I have the same question, so like I said in my intro, it’s time to start learning about cryptocurrencies. I’m interested because the US government has banned ownership of precious metals in the past, and could do so again. That makes cryptocurrencies a potential alternative to precious metals, but I’ve got to learn more about them.

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      • Well thanks, that is a rich comment.
        I really appreciate, and can get behind any insurgency or alternative/open source ideas and actions that are fundamentally based on constructive and self determining reasons which empower and enrich us dirt people.
        So much of everything is co-opted or usurped to the benefit of the cloud people and their utterly reliable tendencies to corrupt everything to their singular advantage or inhibit things they can not monopolize and or control.
        It seems the age of the internet of things is a double edged sword, in which the magnitude of data transmission at the speed of light, literally, has enabled a cabal of transglobalists to great advantage.
        I don’t say any of that out of despair, quite the contrary, I always have believed in the motive power of the dirt people, how forms of consent and withdrawal of it, possesses a power all its own that can not be denied by anything because it is so naturally legitimate. And Bitcoin, and other forms of defiance of the PTB are forms of that great audacity.

        It is the ground level particulars of Bitcoin, the grass roots aspects that concern me.
        What I want to convey is if Bitcoin and other crypto/open source alternatives are to be something that spreads and grows into something widely accepted and utilized, I think they will require the participation of the “little guy” entrepreneur and paycheck earner.
        Take for example, a fellow who has a one man operation, like a plumber, or a blacksmith, a lady running a daycare out of her house. When your making a living like that everyone has a hand in your pocket squeezing the last dollar possible out of you. You have to watch every penny of what remains of your labor after the .gov/corporate thieves strip mine you.
        If your going to get into Bitcoin, your going to do it in tiny amounts, because 1%, as the author says recommends as good investment strategy, of what you have left to invest isn’t much, but it a whole lot when you look at it from the perspective of the one guy operation.

        Is Bitcoin really a game of percentages? And thats all it is with zero tangible backstop to it? Is it another form of venture capitalism for those with an extra 10 grand or other discretionary “pocket change” they can afford to risk on the promise of large returns?
        If you have the notion as the one man entrepreneur, there are lots of ways to get a return that is far more tangible and lucrative by working system D and other underground investments where you can literally hold them in your hand that bypass the PTB.

        For instance, and I’m not making a joke here, I can buy 4 cases of top quality toilet paper, that gets me free shipping, @ $48 per case, that save me just short of half what it costs at Walmart. Then over the 3-4 years to use that 4 cases, the cost of TP at retail increases what 3%, 8% maybe with inflation, cost of fuel to drive to the store, that TP is serious money in the bank, and something quite tangible, and practical. And I don’t limit that way of investing in commodities just to TP. Laundry soap, canning supplies, bulk buying of vehicle consumables and wear parts, living literally debt free, there is almost no limit to those savings.
        How can Bitcoin be a more attractive investment in this what I did as a little guy: I was spending 125 dollars a week on fuel to get to work. (Too much money that gives me back Zero return). So I bought a 1971 VW beetle bug for $900, spent $3500 on parts and tires, did the labor myself, and ended up with a vehicle which cost me $34 a week for fuel, $32 a month for Insurance, and $36 dollars a year for plates & taxes. Just in fuel, that Beetlebug saved me $366 dollars a month. In one year that is $4392, a payback of almost my entire investment, just from fuel savings alone, of $4400 in the Beetlebug. There are savings on tires, brakes. and interestingly, time, because I have to drive down 11 miles of very rough dirt haul roads to get to my job, that with the Beetlebug I could drive considerably faster and saved a half hour each way a day travel time.
        And that is how I have learned to invest in a holistic fashion across the sphere of my life, my humble monetary resources

        I’m not knocking Bitcoin, I’m saying I’m not seeing where Bitcoin can beat those dirt level investments. Or am I not seeing things correctly?

        Like

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