Friday, July 5, 2019

An Argument Against The Ban of Bitcoin: Bitcoin Represents a Threat to The Permanent State, Not America

If The U.S. Bans Bitcoin It Will: 

1) Be A Threat To National Security 

2) Tie Our Demise To The U.S. Dollar


One of my favorite movies is Scarface. And, this is one of my favorite quotes:
“In this country, you gotta make the money first. Then when you get the money, you get the power. Then when you get the power, then you get the women.”
-Antonio "Tony" Montana; fictional character and the main protagonist of the 1983 film Scarface
The goal of money is a little different. Money's ultimate goal is to be a 'unit of account'. That is, it doesn't become a true gangsta until it hits 'unit of account' status. And, in this world, first you get the store of value, then you get the medium of exchange, then you get the unit of account.

Bitcoin is at the unit of account stage all over the world. It has arrived and there's nothing anyone can do about it. Why? Just listen to what Brad Sherman is saying below. He is our unwitting advocate.

In May, Brad made a plea to abolish Bitcoin because he views it as a direct threat to the U.S. dollar. Specifically, he wants to make the purchase of Bitcoin illegal. What implications does this have for the U.S. if the rest of the world doesn't follow suit? In a nutshell, it means there's about to be a massive redistribution of wealth from the U.S. to the rest of the world, specifically, to the those countries with the most Bitcoin.

Brad Sherman, US Congress, Arguing against bitcoin (click here to view)

What's key in this testimonial is that Sherman is merely stating what other nations are saying as well. And, if our enemies have an interest in hurting the U.S., one way to do so is through the strategic purchase of Bitcoin as a reserve currency, and that's exactly what's happening. Central banks across the globe are buying Bitcoin.

How Are Other Nations Responding To Bitcoin?


Sovereign states are making statements with regard to "their" reaction to the Bitcoin "threat". Some nations like Canada and Russia have embraced it. Countries all over Africa have embraced it. The entire middle east has embraced it. Brazil and Venezuela have embraced it. A few politically challenged industries have embraced it (read: marijuana, gambling, and porn). The entire West Cost of the United States has embraced it. This is why the price refuses to go down. It has too many advocates and that advocacy grows with every bomb, sanction and tariff.

Meanwhile, what are Americans being told? Bitcoin is simply a modern day case of tulip mania -- it's a nothing burger, a scam, a Ponzi scheme, a tool for criminals, punks and terrorists. And yet, one Bitcoin is still worth more than an ounce of gold.

The truth is, Bitcoin has already become the world's reserve currency, but we (Americans) are the last to know. And, if folks like Brad Sherman have their way, Americans will be left out of owning Bitcoin altogether.

What Does That Mean For The Coming Redistribution of Wealth? 


What does this mean for the future? From a global perspective, it means the meek will inherit the earth. From a national perspective, it will play out in a civil war between the banking and technology sectors; the old and the new guard. America will continue to evolve and thrive, but there will be a reckoning of sorts, a changing of the 'money' guard as the value of all assets backed by the U.S. dollar, directly or indirectly, gets absorbed by Bitcoin. 

Bitcoin Represents a Threat to The Permanent State, Not America


The truth is, Bitcoin represents a threat to sovereignty and the current power structure, not America or its values. In fact, if America's forefathers had Bitcoin, they would have used it. They were advocates of a small and limited government, by the people and for the people, not this. The war between America and the Permanent State's government is coming, but America's adoption of Bitcoin will make sure America doesn't get taken down with the Permanent State's dollar scheme. America is an ideal, not a currency. We let the dollar use our name for a while, and now we want it back.


Friday, May 17, 2019

A Case For Technological Or Corporate Reparations


It's not ideal, but we live in a corporate state that's driven by profit. To hone in on the problem, it's not the corporation that's bad, it's the power we give them as corporate entities. Their only directive is one of profit as stated in the corporate bylaws. The good news is that corporations are very efficient organizations. If you dangle the right candy, they can make change happen over night. I think it's time to start using corporations to our advantage.

I'm working on a proposal that places a retroactive corporate dividend (in the form of cash or corporate coins) on all jobs that have been automated. The automation effectively creates a capital asset that only the company is benefiting from and I'm suggesting we ask for technological reparations.

Mechanics: The dividend goes straight to the worker and the people that live in that community. The dividend is connected to the capital asset (automation technology).

Why would a company do this? The corporation benefits from increased spending on their products and an improved corporate image. The payment is connected with increased productivity and profitability, so the profits are aligned.

Bottom line:

Viable corporations need to figure out a way to stay viable and total automation doesn't work unless workers have an income. Corporations can provide that basic universal income.

Focusing on the needs of the people (many) renders the power structure (few) impotent.

Thursday, May 16, 2019

Get Paid $25 In Bitcoin From Abra For Making A $5 Deposit (This Is Not Your Ordinary Crypto Wallet)

Abra is a crypto-wallet you can download to your phone and they're having a great promotion. For a limited time, when you refer a friend, and your friend deposits $5, you and your friend get $25 (see below for requirements).

What makes Abra different? 
It allows you to do things that other platforms don't, namely invest in other types of assets outside of the crypto world like stocks and bonds. Abra is available globally and supports 30 cryptocurrencies and over 50 fiat currencies using Bitcoin/Litecoin smart contracts. You can invest in multiple cryptocurrencies. Additionally, the Abra model is 100% peer-to-peer, with no middleman.

Most exchanges aren't safe enough to also use as a wallet. In fact, the only place I've ever been hacked is when I left funds sitting in an exchange wallet. However, Abra is more secure than most cryptocurrency exchanges since users are the only ones who can access their recovery phrase. This is because Abra is a non-custodial wallet so it never has access to your funds. According to the company,
"Non-custodial differs from traditional custodial services in that we do not store funds on your behalf. We use blockchain technology as the underlying mechanism to enable you to have complete control over your funds at all times."

As a word of caution, because of this added security, it's really important to create a backup and save your recovery phrase in a safe place. In the event your phone is broken, stolen, lost or the app is deleted accidentally Abra never has access to your funds or the associated recovery phrase. This is awesome in terms of security, but it also increases your responsibility for making sure you have a back-up plan if something happens to your phone.


Max Keiser Likes Abra
If you're a Max Keiser fan (King of Bitcoin), you've probably already seen the video below. I like to know the people behind the products I use so I wanted to share this with those of you thinking about signing up with Abra. This is not your ordinary wallet.

If you haven't seen the video, here's the second half of the Keiser report where Max talks to Bill Barhydt of Abra about their new product which will essentially create a bitcoin standard for the world by turning BTC into a unit of account. Get ready!




Ready to sign up! Wait a moment...

First, I want to explain a few things because I don't want you to waste your time. There are only two ways to get the $25 after you sign up for the account. Within 90 days of signing up for Abra, you must complete 1 of the following options:

  • Option 1: Deposit a minimum of $5 to Abra's wallet using a US bank account or debit card.
  • Option 2: Deposit crypto and exchange it to any other asset (except BTC, BCH, ETH, and LTC). You will receive 1.5% of the exchange total, up to $25. A minimum of $5 in rewards must be accrued to receive payment.
I used Option 2, because I can connect it with my Coinpot and FaucetHub faucets. Option 2 is also the best place for folks located outside of the US.

So the first step is to figure out if you can do Option 1 or 2. The second step is to download the app here. The third step is to follow the instructions to receive the $25.

If you run into any issues, I contacted Abra's support team on Twitter and got a response within the hour.

Let me know if you have any questions.


Thursday, May 9, 2019

Coinpot Bitcoin Faucet Update  (5/9/2019) — Up ~$700 in 18 Months

This is a follow up to the original article: How Much Can You Make on Coinpot in 1 Year?

It’s been almost 18 months since I wrote that article. The goal was to see if bitcoin faucets were a viable way to earn free bitcoin. I, like many others, was skeptical. Free bitcoin? There must be a catch. So I started my little experiment with a skeptical eye. Specifically, I wanted to see how much you could make on Coinpot in 1 year.

With my model I surmised that I could look forward to a minimum of $900. Of course I had no way of knowing that bitcoin would be attacked from every angle in 2018. As a result, the price of bitcoin dropped significantly, but it’s worth noting that it never dropped below the price of an ounce of gold. Gold — the world’s most precious metal.

So, here we are, almost 18 months in and I’m up roughly $700. Did I make the $900 mark? No. But, $700 isn’t bad for what I was told was a “scam bitcoin faucet”. I kept waiting for something to happen to the site throughout the year. I kept waiting for my account to get hacked. I kept waiting for the site to change the rules. It never happened. Everything has been easy. All withdrawals have been made.

Round of applause for those of you holding it down over there at Coinpot.

And, the beautiful thing is that we’re coming out of a market bottom in bitcoin. It is my belief that we are currently on the front end of a bull market. Bitcoin has taken a beating over the past year, but I still think it will be the world’s reserve currency. I still think it could reach $4 million or more in 10 years.

(For more on why I still love Bitcoin read: Why Am I Still In Love With Bitcoin in 2019?)

Okay, so I’m a believer in bitcoin faucets. I especially like the fact that anyone (beginner to advanced) can start making bitcoin with these faucets and there’s no risk because you’re earning bitcoin as opposed to buying it. 

Now what? Now, that I know what works and what doesn’t, I’m going to research other bitcoin faucet programs. I’m also going to see if there are other ways to earn bitcoin risk-free.

Tuesday, May 7, 2019

Why Am I Still In Love With Bitcoin in 2019?




There are many reasons to like bitcoin. For a list of the financial reasons, read my article entitled: Bitcoin Valuation: $4 Million - | Seeking Alpha


It was in this article that I first announced my belief that bitcoin's value could easily reach $4 million. First, yes, I still think $4 million is possible. In fact, I think it's more possible than ever, because the banking cartel has thrown everything it can at bitcoin and it's still thriving. We also have applications like Abra that make it possible for bitcoin to become the world's reserve currency (more on the mechanics of that in a later post. Abra discusses it on their website as well).

Moving on to the point of this post, however, is that I love the fact that bitcoin can't be controlled. That lack of controller-ship appeals to me as a way to dis-empower the power structure. I liken it to the pride I'd feel for a son or daughter that became a revolutionary. Indeed, if bitcoin were a person, the power structure would have put him on a modern day cross. Perhaps bitcoin and Assange could share the same cell. I digress. Back to the point...

Bitcoin can't be controlled by banks, government or anyone else. It is a truly decentralized form of exchange that requires the approval of everyone that owns it to be controlled.

This is not a theory. This kind of technology is here. Bitcoin is the embodiment of that technology and it's in its 9th year. It's held up to attack after attack. And, if it could be controlled, they would have figured out a way to do it by now. 

Today, Bitcoin stands at well over the price of gold. For all those pessimists, even when bitcoin dropped to its lowest levels over the latest pullback, it never dropped below the price of gold. Gold, the world's most valuable and precious metal.

So, bitcoin's viability has been tested and it has passed every one of their tests. What next?

What's Next: Bankers Civil War

From Asia to North America to Europe, quantitative easing and ample reserves are the new black. Which is to say, it's all the rage. Nation states hate inflation, but they love quantitative easing, which is a bit like saying I hate food, but I love to eat. It's schizophrenic. The schizophrenia is brought about by extreme inner conflict between greed and power. Some bankers see quantitative easing and the IOER scheme as the last big grab, others see it as a hedge against an inevitable foe called inflation. I'll cover more on the growing civil war within the banking industry in a later post.

My point is that the Federal Reserve's clear loss of control over the fed funds rate and the plan to make quantitative easing a permanent program have created a surge in bitcoin in recent months. It all started around March 20 -- the day the Fed announced the FOMC decision to keep rates steady. That's also the day the fed funds rate started outpacing the IOER. Some folks didn't like that decision and now we have a civil war within the banking industry.

That's why bitcoin has surged in recent months. It is a condemnation of the lack of control, a condemnation of gross negligence and irresponsibility.

And, every time a nation or group has a disagreement with their government, bitcoin will be there, arms held wide.

Bitcoin gives the world all kinds of reasons to love it.

We now have a viable alternative to reckless economic behavior, a new heavy weight has stepped into the ring to fight for us. Not just for North America, but for every group in the world. Bitcoin is, and is currently in the process of becoming, the world's reserve currency.

With this comes the end to monetary corruption. With this comes a sort of transparency and freedom that this country's forefathers could only dream about.

Bitcoin does not solve all of our problems, but it gives us the ability to be free. What we earn will truly be our own. Bitcoin can't be confiscated, it can't be burned, it can't be deducted from, it can't be turned against us or taken down. It has no language, nationality, color, religion or creed and it has come, like a savior, to save us from ourselves. (Jesus was a revolutionary too)

If you're looking for a place to get started with bitcoin investments, take a look at Abra. Read what they're about and how they differ from the competition. If bitcoin does become the reserve currency of the world, it will be in large part due to the work Abra's doing.





Monday, May 6, 2019

A Quick Review of Vice's Show Outliers, Ep. 1: "Have You Ever Wanted To Drop Out Of Capitalism?"




In a series called "Outliers", VICE "explores worlds beyond the economic mainstream, meeting people who’ve chosen unusual and sometimes radical relationships to money, commerce and capitalism."

The first episode showcases a cluster of communes. In exchange for a 40 hr work week, workers get everything from health care to food taken care of. They even get a little stipend. This isn't what I think of when I think of a world where labor is valued more than capital, because ultimately, if these people decide not to work a 40 hour week they don't eat. And, as you will see if you watch the video, they are all still partially injected into the system anyway.

What I like about the episode is that it provides an example of a unique economic model without defining it. It puts it into context without judgement, and the role of "definer" is left to the audience. This isn't easy to do, and it's done well. 

Bottom-line: Great episode. I also like the idea of a hybrid commune. Ideas like this are what make me proud to be American, but why not keep the mindset, AND play the game. That is, get paid, get capital and let your capital make your income so you can spend your days at the commune?

It IS possible to think like a capitalist without buying into a 'winner take all' belief system. It's one thing to know the rules, it's another to believe those rules are your limit.

I look forward to the reviewing the next episode of Outliers on VICE.