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Becoming Your Own Bank: Bitcoin for Beginners

Traditionally, in order to successfully exchange goods with an individual or firm not physically present, one must utilize a third party. With online shopping, the most obvious example - this third party usually takes the form of a credit card company, bank, or other payment processor such as PayPal. This third party is neither a buyer nor a seller. In the context of the exchange, the third party's sole function is to verify both the transmission & receipt of funds. For this service, they will of course collect a small fee.

Unfortunately, our enemy, the state, has discovered that by exercising control over a small number of the most popular third parties, they can succesfully interject themselves into our financial affairs. Thus, banks are used to rob us via inflation. Taxes are extorted at the point of sale. Black market products are prohibited from exchange. Etcetera.

The advent of Bitcoin in 2008 provided sufficient disintermediation to alleviate all of these concerns entir…

Bitcoin's Best Endorsement Yet





The federal government is concerned about the role cryptocurrencies play in the drug trade - just not enough to hand over the bitcoin they confiscated from the Silk Road. They’re concerned about unlawful behavior - but not enough to close down their concentration camps. The dollar’s hegemony is apparently of concern as well - but only after they’ve extracted 98% of it’s value.

Based on the president’s tweet storm below, it’s clear: The federal government is concerned about the subversive effects of cryptocurrencies. Well, no shit. That’s the whole point.


The President's illiterate rambling in it's entirety

For over a century they’ve forced us to use trash as a currency so they can pilfer our livelihoods to make war in distant lands and force dependability on our family, friends and neighbors. It’s been a profitable racket to say the least. Generations of parasitical politicians have successfully relied on a cartelized banking sector to finance re-election schemes in order to retain their delicate grasp on power.


Well, no more.

Despite the president's inclinations, humanity will continue to use bitcoin in order to facilitate non-violent, mutually beneficial exchange at an increasing rate and if governments attempt to censor our transactions, we’ll utilize cryptographic privacy features like CoinJoin or CashShuffle. Those of us who prefer anonymity over pseudonymity will use privacy coins.

And guess what? There isn’t a damn thing any of the leeches who infest the state legislatures, or the halls of Congress, or any Parliament, can do about it.

Oh, btw - while we’re at it, we’re going to tokenize the securities market to destroy FINRA and the SEC. More on that here.

No one can escape the economic consequences of irresponsibility and inefficiency. Eventually, the market catches up to all of us - even the state. It seems that governments around the world are finally waking up to the reality of a privatized, decentralized, and tokenized future.


A future in which they play no part whatsoever.




Comments

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  3. At its most basic level, blockchain-based solve care coordination enables authorized parties to instantly access medical data whenever and wherever for timely health care delivery. All parties in the health care process can access the data they need without relying on the disclosure of this information by a separate entity.

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