Silent Weapons… (1/2)
“Permit me to issue and control the money of a nation, and I care not who makes its laws.” -Mayer Amschel Rothschild
The
main idea was to avoid being
beheaded by thieves who wanted to steal the
gold. That gold was
being stored in
a secure facility and in
return one would receive certificates of
ownership. Obviously,
people paid a storage
fee for that service.
People soon realized that it was easier to trade with those
certificates, instead of
carrying gold. People
also started trusting their
counterparts and
the counterparts’ certificates, so
trade
became easier
and more comfortable. As
a matter of fact, most
people even forgot
to cash those gold
certificates, and
most of them left 90% of that gold stored
at the soon-to-be-called
bank. The bankers discovered
a way to profit from this.
The
word currency refers to money in any form, when
in actual use or circulation as a medium of exchange in a nation.
Currencies are recognized stores of value, and are traded between
nations in foreign exchange markets. Currencies are defined by
governments, and each type has limited boundaries of acceptance. A
commodity is a marketable item produced to satisfy wants or
needs. Economic commodities comprise goods and services.
A
cryptocurrency
is a medium of exchange
using cryptography to secure the transactions
and to control the creation of additional units of currency.
Cryptocurrencies are a subset of alternative
digital currencies, they also use
decentralized control as opposed to centralized electronic
money/centralized
banking
systems. The decentralized control is related to the use of the
blockchain transaction
database in the role of a distributed ledger.
Cryptocurrencies are
used primarily outside existing banking and governmental
institutions, and exchanged over the Internet and
they have the unique
potential to challenge existing systems of currency and payments.
Today, there are over 700 digital currencies (100
major altcoins) in
existence. Entry into the marketplace is undertaken by so many due to
the low cost of entry and opportunity for profit making through the
creation of coins.
"By
this means government may secretly and unobserved, confiscate the
wealth of the people, and not one man in a million will detect the
theft." - Lord John Maynard Keynes, "Economic Consequences
of Peace"
The legal status of cryptocurrencies varies substantially from country to country and is still undefined or changing in many of them. While some countries have explicitly allowed their use and trade, others have banned or restricted it. China’s Central Bank banned the handling of bitcoin by financial institutions in China in early 2014. In Russia, cryptocurrencies are legal but it is illegal to actually purchase goods with any currency other than the Russian ruble. The United States’ IRS ruled that altcoins will be treated as property for tax purposes as opposed to currency.
As the
popularity of and demand for online currencies increases so do
concerns that such an unregulated person-to-person global economy
that cryptocurrencies offer may become a threat to society. Concerns
abound that “altcoins” may become tools for “anonymous web
criminals” who seek to evade taxes and launder money… like
the people involved in the Panama
Papers… sike!
Cryptocurrency
received even further
attention back in October 2013 when the
original Silk Road
(Free Ross Ulbricht)
was shut down. In the
year following the initial shutdown of Silk Road, the number of
prominent dark
markets increased. Since most darknet markets run through Tor,
they can be found with
relative ease on public domains. This does
not mean that it will
incriminate
any form of user. This kind of anonymity enables users on both sides
of dark markets to “escape” the reaches of law enforcement....
“All the perplexities,
confusions, and distresses in America arise, not from defects in the
Constitution or confederation, not from want of honor or virtue, as
much as from downright ignorance of the nature of coin, credit, and
circulation." - John Quincy Adams
@feexitmx
www.feexit.mx
rp@feexit.mx
www.feexit.mx
rp@feexit.mx
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