The price of a bitcoin topped $900 last week, an enormous surge in value that arrived amidst Congressional hearings where top U.S. financial regulators took a surprisingly rosy view of digital currency. Just 10 months ago, a bitcoin sold for a measly $13.
The spike was big news across the globe, from Washington to Tokyo to China, and it left many asking themselves: “What the hell is a bitcoin?” It’s a good question — not only for those with little understanding of the modern financial system and how it intersects with modern technology, but also for those steeped in the new internet-driven economy that has so quickly remade our world over the last 20 years.
Bitcoin is a digital currency, meaning it’s money controlled and stored entirely by computers spread across the internet, and this money is finding its way to more and more people and businesses around the world. But it’s much more than that, and many people — including the sharpest of internet pioneers as well as seasoned economists — are still struggling to come to terms with its many identities.
With that in mind, we give you this: an idiot’s guide to bitcoin. And there’s no shame in reading. Nowadays, as bitcoin is just beginning to show what it’s capable of, we’re all neophytes.
Any currency that can jump to 69x previous value in 10 months while also having miniature economic bubbles burst twice within that time period is not a stable currency.
Bitcoins are functionally stocks for bourgeoisie nerds that want to feel good about ‘escaping the system’ and ‘avoiding the Fed’.
What you need to know: Bitcoins are an anonymous, decentralised, peer-to-peer digital currency. In contrast to older forms of electronic money, no company controls Bitcoin, nor ever could. When the Silk Road, the internet’s biggest marketplace for illegal drugs, was taken down, the price of Bitcoin plummeted. However this has been offset by a surge in demand from China driven in part by Baidu (China’s leading search engine), who announced plans to accept Bitcoin as payment for some services.
* Bring down the Babylon. We’re the 99%
* Built by THE FEDERAL RESERVE BANK with the invention of PAPER CURRENCY aka FIAT CURRENCY [FAKE & NO REAL VALUE].
Once the concept of MONEY was created for some ODD reason; the FEDS also created something called INTEREST for every $$$ they PRINT.
Then this INTEREST magically transformed into "DEBT" which eventually started the ENSLAVEMENT of the entire HUMANITY in this world we’re living in.
Now that’s the story of humanity extinct. Much much shorter than how long it took for the dinosaurs to get wiped out.
FAKE MONEY = DEBT = ENSLAVEMENT OF HUMANITY.
Destroy the Federal Reserve Bank & LIVE FREELY or PERISH FOREVER.
* Fiat currency is the currency that holds no value whatsoever.
Just a paper with #s on it along with heavy debt in order to enslave the humanity.
* Ben Bernanke is the current president of the Federal Reserve Bank.
It’s where they print DOLLAR currency. Guess who controls it. The government?
Nnope. It’s 100% PRIVATIZED BY THE GROUP OF BANKERS!
They ABSOLUTELY have the EVERYFUCKING power to print DOLLAR$$$ as much as they fucking like.
Did I tell you this is a gigantic bullshit scheme? It’s the perfect system to put everyone on an enormous debt.
Something I can say Amen to.
The Money That Is Sold Abroad Is You! (by stefbot)
"It is not dollars, treasuries, bonds and debt that is being sold by your government.
It is you.”
* The fiat currency is a perfect system for this society to enslave every citizen.
It’s an enormous scheme where bankers play the role of cartels to use the love of $$$ as a drug to get us addicted.