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Is Bitcoin A Long Term Currency Solution? Here’s How It Works.

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Have you ever wondered how digital money works? Any ordinary digital file such as an MP3, AVI or PDF can be copied an infinite number of times, and sent to an infinite number of people. This simple fact is the basis for the file-sharing and torrent movement. So why can’t you do the same thing with electronic money? What is to stop you from spending the same $100 at 20 different stores? This is informally referred to by computer scientists as the “problem of double-spending [8].” Up until now, it has been solved with a system of trusted third parties called clearing houses. In our current financial system, in order to send money to another party, you have to go through a clearing house, which guarantees that the amount you send matches the amount by which your account is debited. It is the integrity of the clearing house which prevents double spending in our system today.

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Though you may not have been aware of it, you have been sending and receiving money through clearing houses your entire life. Any time your employer makes a direct deposit into your bank account in the United States, that money has gone through the Automated Clearing House, a network operated in partnership between the Federal Reserve and the Clearing House Payments Company [3]. Additionally, any time you use a credit or debit card, your digital money is sent through Visa, Mastercard, American Express, or another private clearing house. With 90% of our money supply now in digital form, almost the entire economy is built upon this network of just a few central clearing houses [2]. But what if that were to change…

Blockchain.info_

In November 2008, a mysterious party operating under the alias, Satoshi Nakamoto submitted this letter to the Cryptography and Cryptography Policy Mailing List. The letter links to a paper written by Nakamoto in which he presents a revolutionary new solution to the problem of double-spending, which he calls Bitcoin. In the Bitcoin network, rather than sending payments through a central clearing house, all transactions are broadcast across the internet to be picked up by every “miner” in the network. The miners then add the transaction to a public ledger of all transactions ever carried out on the Bitcoin network, called the block chain. The payer would then be unable to spend those coins again, because the ledger would indicate that they had become the property of the payee [1]. Evidently the idea caught on. Bitcoins have been entering circulation as payment to the miners at a controlled rate ever since. Once the supply reaches 21 million BTC, new coins will cease to be created, and miners will be paid solely by transaction fees instead.

In the Bitcoin network, identities are represented by randomly generated sequences of numbers and letters called “public keys,” which enable participants to remain completely anonymous if they so desire [9]. In contrast, however, the block chain keeps a record, which traces the history of every coin in the network, making Bitcoin the most transparent financial system ever. This combination of privacy for the individual and transparency for the system is absolutely unprecedented. It is also unbelievably efficient.

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On the day of writing (December 14th, 2013), the largest transaction on the Bitcoin network was for 69,500 BTC, then valued at $59.5 million [4].

If this transfer were to have been made via PayPal, depending on the country of destination, it would have carried a transaction fee of between .5 and 2% or between $297 thousand and $1.19 million [5], making it completely impractical.

As a more likely option, if you were to wire money directly from your bank to the bank of the recipient, this transfer would cost a flat rate of about $45 [6].

Finally, if you were to make an expidited wire transfer through a company like Western Union, which specializes in international money transfers, the fee would be about $22, and would take 1-2 business days [7].

As of December 2013, however, the transaction fee necessary to ensure immediate inclusion in the block chain is $.09, and takes only 1 hour. The fees and processing times for bitcoin transactions are the same no matter the time of day nor the country of destination.

In summary, cryptocurrencies like bitcoin are not merely an ideological alternative to our current monetary system, they are a technological revolution in a very meaningful sense. They enable greater personal privacy, as well as unprecedented transparency for the system. Transfers on the network are faster than an expedited wire, exponentially cheaper, and solve the problem of double-spending without relying on the integrity of any central clearing house. Indeed it is hard to overstate just how revolutionary this technology is.

And it’s timing could seemingly not be more opportune. In the not-so-distant wake of the 2008 mortgage crisis, there seems to be more skepticism toward government monetary systems than ever. The fact that the monetary base is created on loan, its inflationary expansion and the general lack of transparency of “high finance,” have received widespread and scathing criticism in recent years. These are three enormous problems which bitcoin has seemingly solved with the a few simple keystrokes. Are cryptocurrencies the answer we’ve been waiting for? While it’s hard to answer with certainty, I would absolutely not rule it out.

Sources

[1] Nakamoto, Satoshi. “Bitcoin: A Peer-to-Peer Electronic Cash System.” Bitcoin. Bitcoin Project, n.d. Web. 14 Dec. 2008.
[2] “Money Stock Measures – H.6.” Board of Governors of the Federal Reserve System. N.p., 19 Dec. 2013. Web. 20 Dec. 2013.
[3] “Intro to the ACH Network.” NACHA. 2013 NACHA – The Electronic Payments Association, n.d. Web. 20 Dec. 2013.
[4] “Largest Recent Transactions.” Largest Bitcoin Transactions. Block Chain, n.d. Web. 20 Dec. 2013. <https://blockchain.info/largest-recent-transactions>.
[5] p”Fees.” PayPal Fees – For Purchases, Getting Paid and Personal Transfers – PayPal. Paypal, n.d. Web. 19 Dec. 2013. <https://www.paypal.com/us/webapps/mpp/paypal-fees>.
[6] Fowler, Janet. “8 Low-Cost Ways To Transfer Money.” Investopedia. Investopedia, 21 Apr. 2011. Web. 14 Dec. 2013. <http://www.investopedia.com/financial-edge/0411/7-low-cost-ways-to-transfer-money.aspx>
[7] “Fees & Delivery Methods.” Money Transfer Methods and Fee’s. Western Union, n.d. Web. 20 Dec. 2013. <http://onlinefx.westernunion.com/fees/>.
[8] Ryan, Mark D. “Digital Cash.” Digital Cash. University of Birmingham, 31 Jan. 2007. Web. 14 Dec. 2013.
[9] “Anonymity.” Bitcoin Wiki. N.p., 30 May 2013. Web. 14 Dec. 2013.

Further Reading

Bitcoin White Paper

Khan Academy Bitcoin Series

Bitcoin Wiki

Free David Wilcock Screening: Disclosure & The Fall of the Cabal

We interviewed David about what is happening within the cabal and disclosure. He shared some incredible insight that is insanely relevant to today.

So far, the response to this interview has been off the charts as people are calling it the most concise update of what's happening in our world today.

Watch the interview here.
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The “Unmasking Antifa Act Of 2018”: The Nonsense Never Ends

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In Brief

  • The Facts:

    A bill has recently been submitted to Congress that specifically targets groups of people wearing masks who are preventing others from exercising their constitutional rights.

  • Reflect On:

    Can we see how much of what the government is doing with regards to violent protests and counter-protests is complicit with the way these protests are being used to prevent us from dealing effectively with the real issues?

Last year, in an attempt to condemn the ‘violence and domestic terrorism’ that took place during events between August 11 and August 12, 2017, in Charlottesville, Virginia, the Senate tabled the ‘Charlottesville Resolution’ whose main purpose was ‘rejecting White nationalists, White supremacists, the Ku Klux Klan, neo-Nazis, and other hate groups, and urging the President and the President’s Cabinet to use all available resources to address the threats posed by those groups.’

Wow. Those Senators are really earning their salaries, aren’t they? Bravo–they’ve given the government more power to suppress the narrative of a certain segment of the population.

Unmasking Antifa

Now this year, in an attempt to stem the rising violence perpetrated by the group called Antifa, Congress introduced Bill H. R. 6054:

SECTION 1. SHORT TITLE.

This Act may be cited as the ‘‘Unmasking Antifa Act of 2018’’.

SEC. 2. INTERFERENCE WITH PROTECTED RIGHTS WHILE IN DISGUISE.

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(a) IN GENERAL.—Chapter 13 of title 18, United States Code, is amended by inserting after section 249 the following:

‘‘§ 250. Interference with protected rights while in  disguise

‘‘(a) IN GENERAL.—Whoever, whether or not acting under color of law, while in disguise, including while wearing a mask, injures, oppresses, threatens, or intimidates any person in any State, Territory, Commonwealth, Possession, or District in the free exercise or enjoyment of any right or privilege secured to him by the Constitution or laws of the United States, or because of his having so exercised the same, shall be fined under this title, imprisoned not more than 15 years, or both.

Wow. They’re really getting to the heart of the matter here, aren’t they?–the masks. Granted, threatening the ‘free exercise or enjoyment of any right or privilege secured to <any person> by the Constitution’ was already a punishable crime, even without a mask, but let’s not let that get in the way. The government should be congratulated for their accomplishment here, which again is doing nothing except giving themselves more power to suppress the narrative of a certain segment of the population.

Who Supports These Groups?

I personally don’t know of anyone who supports White Nationalists, White Supremacists, the Ku Klux Klan, neo-Nazis, or other hate groups. I also don’t know anyone who supports Antifa.

To be perfectly honest, I’m not even sure if many of the people that go out to protest and counter-protest in public are necessarily ardent supporters of their respective group’s fundamental ideologies. I believe many are paid mercenaries. Others may be looking for an opportunity to vent their own suppressed anger.

Can We Ignore Them?

Ideally, we should be completely ignoring violent groups with such extremist ideologies. But there is a reason we have a hard time doing so. It is because it is these groups that get to star in the mainstream media circus and in the political discourse, at the exclusion of the vast majority of citizens who are moderate, reasonable, and have legitimate grievances. Isn’t it farcical that we are still talking about the Ku Klux Klan? That they still exist?

There is a reason that groups like the KKK seem to be getting recycled from the dustbin of history, at the same time newer extremist movements like Antifa are being well-funded and supported: their violent confrontations continue to be used by the financial elite as a smoke screen to grab our attention and fill the headlines, all while discouraging the moderate and reasonable majority from actually speaking up in public about the real issues that face us today, about the real and obvious tyranny the financial elite continue to perpetuate.

Embers Of Fear Dying Out

For the financial elite, the agenda itself is irrelevant; as long as violence, chaos, and polarization are created, they are able to keep their game going and hold on to power. But it’s getting harder and harder for them to stoke the fires of fear and violence, as they need to infuse more energy and resources than ever to bring these events together.

As we awaken and evolve, more and more of the population is turning away from angry and violent opposition as a way of dealing with issues. It’s important that we remain conscious and avoid the temptation to participate in the false left/right dichotomy that is constantly on display in the political arena and in the mainstream media. As we see these violent confrontations fundamentally as staged events, and stop giving our emotional energy to one side or other of the polarity, these techniques will no longer have their intended effect, and we can look forward to the day that they will have eventually petered out.

Free David Wilcock Screening: Disclosure & The Fall of the Cabal

We interviewed David about what is happening within the cabal and disclosure. He shared some incredible insight that is insanely relevant to today.

So far, the response to this interview has been off the charts as people are calling it the most concise update of what's happening in our world today.

Watch the interview here.
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Newly Discovered Crop Circle Has A Message For Humanity (July 2018)

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In Brief

  • The Facts:

    A new crop circle was recently discovered in the UK on July 8th, 2018. It was the exact depiction of the chemical weapons warning symbol.

  • Reflect On:

    Does this serve as a message for us to put down the chemical and nuclear weapons for good? Do we need to be using these weapons? This may also cause us to consider the poisoning of our planet in other ways.

A new crop circle was recently discovered on July 8th in Coneybury Hill, Nr Stonehenge, Wiltshire. This circle is the exact same as the chemical weapons warning symbol.

Interestingly this crop circle was found shortly after the death of Dawn Sturgess who had come into contact with a deadly nerve agent.

While we can’t know for sure, this crop circle certainly appears to be a message to humanity about the dangers of chemical weapons and the catastrophic damage they can cause, regardless of who you believe made it. Perhaps this circle symbolizes the fact that these weapons have no place in our world, and it’s time we got rid of them, for good.

Check out some amazing drone footage of this newly discovered crop circle below.

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ET Intervention?

It is not all that surprising to see this message show up in a crop circle, as in the past we have seen deliberate ET intervention when nuclear weapons would have otherwise been used. We have covered this topic before, and the following is an excerpt from an older article,

One of many previously classified reports -out of the thousands in existence -that is now available in the public domain is the intrusion at Minot Air Force Base in North Dakota, on August 24, 1966. Air Force personnel were concerned about a light in the sky. A team went to check it out and confirmed the object, then saw a second white object while doing so. The object was tracked on radar and moved vertical several times; each time it descended, an air force officer in charge of a missile crew found his radio transmission interrupted by static. The object eventually descended to ground level, and the Air Force sent a team to check it out. They saw the object either on the ground or hovering very low. According to the official report:

“When the team was about ten miles from the landing site, static disrupted radio contact with them. Five to eight minutes later, the glow diminished, and the UFO took off. Another UFO was visually sighted and confirmed by radar. The one that was first sighted passed beneath the second. Radar also confirmed this. The first made for altitude toward the north, and the second seemed to disappear with the glow of red.”

Here are a couple of more articles that go into greater detail regarding the connections between UFO’s and nuclear missiles:

“The United States Tried To Detonate A Nuclear Weapon On The Moon & Somebody Responded When We Did”

“Strong Evidence Shows Extraterrestrials Have Been Shutting Down Nuclear Missiles Worldwide For Decades, But Why”

Why Are They Stopping Nukes?

It seems that these extraterrestrials know just how damaging nuclear weapons can be to our planet, and possibly to our entire solar system. There is information that says that UFO’s have been deactivating nuclear weapons since we created them and started to show up a lot more often when we were testing the atomic bomb. Thankfully, someone or something has our back and is helping to stop us, humanity from making a huge mistake.

As Far As Crop Circles Go, You May Be Interested In These Detailed Articles That Go A Little Deeper Into The Phenomenon

Some Scientific Facts About Crop Circles That Nobody Really Knows About

Who Could Make A Face Like This & Include A Binary Code Message In The Middle Of The Night?

44 Years Ago Sagan & NASA Sent A Message Into Space – 27 Years Later We Got This Response

An ‘Eclipse Like’ Crop Circle That Showed Up Three Days Before The Solar Eclipse

Stunningly Complex New Crop Circle Appears In Cley Hill, Warminster July 18, 2017

Free David Wilcock Screening: Disclosure & The Fall of the Cabal

We interviewed David about what is happening within the cabal and disclosure. He shared some incredible insight that is insanely relevant to today.

So far, the response to this interview has been off the charts as people are calling it the most concise update of what's happening in our world today.

Watch the interview here.
Continue Reading

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The Deep Truth Behind Why Trump Is President

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In Brief

  • The Facts:

    Since Trump's presidency, we have seen many of humanities shadows thrust into conversation. Not just shadows of Trump, but each and every one of us. The media has been aggressively opposing Trump almost all the way through.

  • Reflect On:

    What is Trump's presidency showing us about ourselves? Why are we seeing a full out media attack on Trump? Is the cabal losing power? Are we beginning to see the first stages of big shifts away from oppressive regimes?

A little backstory before we get into the video below. Back in 2016, following the election, we had stated that there seemed to be a pretty large shift in power given that Trump made his way into office. How did this happen? Here is a brief outline.

There is a divide taking place within the Cabal/Deep State. This divide is causing power struggles as some facets work to move away from the entirely destructive means of the previous many decades, and instead work towards a different path. Is this an entirely ‘good’ path? No, but we’re going to see this as a HUGE welcome improvement as we continue to shift our consciousness.

This divide works its way through intelligence agencies whereby ‘white hats,’ as you can call them, begin to bring forth leaks, information and dealings that help break apart the extremely oppressive end of the cabal. White hats are essentially everyday individuals, like Snowden was, who work inside intelligence agencies and who are also having a shift in consciousness within themselves. No longer do they wish to support the ways of the old, the ways it would have been if Hillary made it into office.

So we begin to see a power struggle, one that is obviously coming as a result of having an ‘outsider’ in office that is shaking things up QUICKLY.

How Did Trump Get In?

First off, what I mentioned above is a big part of it. On top of that, was the flip in electoral college manipulation that usually takes place when a president is chosen. Was Hillary Clinton furiously angry after the election because she didn’t get enough support from the general populace? No, she was furiously angry because her side of the Cabal/Deep State, who promised her a win and bought the entire media to help make it happen, flipped in part, causing enough of a change to have Trump get in.

Now typically people tend to think that when you talk about things in this manner it means you are in favor of Republicans and Trump. But this is primitive thinking in that it only looks at one tiny layer of what’s happening to apply an explanation we can then be comfortable with. When in reality, all that is happening here is we are looking at what is ACTUALLY happening, not what we are being told what is happening.

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You do not have to be pro Trump, pro Republican, or even in support of politics at all, for that matter, to see what’s truly taking place here.

Regardless, questions have been coming in for months and months to CE, asking what we think about Trump, whether we are in support of him and what all of this ‘chaos’ means. Of course, some, because we speak about things honestly and from a neutral perspective, tend to think we side with Trump because SOME of the actions of his administration and who’s behind him are actually in favor of humanity, and we report on them.

But regardless of the amount of explanation we have tried to bring to this somewhat complicated situation, I felt we needed something VERY clear. So I created a video expressing what Trump’s presidency truly means for our collective consciousness and 3 very big factors that are being brought forth through his time in office. This video will answer the topic this article is titled as.

Please take the time to watch and digest this, as it will answer so many questions regarding Trump and what is taking place.

Free David Wilcock Screening: Disclosure & The Fall of the Cabal

We interviewed David about what is happening within the cabal and disclosure. He shared some incredible insight that is insanely relevant to today.

So far, the response to this interview has been off the charts as people are calling it the most concise update of what's happening in our world today.

Watch the interview here.
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