Difference between revisions of "Cryptocurrency"
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| − | '''Cryptocurrency''', sometimes called crypto-currency or crypto, is | + | '''Cryptocurrency''', sometimes called crypto-currency or (confusingly) just "crypto", is a form of currency that exists digitally or virtually and uses cryptography to secure transactions. Cryptocurrencies don't generally have a central issuing or regulating authority, instead using a decentralized system (e.g. a [[blockchain]]) to record transactions and issue new units. |
==Process== | ==Process== | ||
Revision as of 16:26, 3 March 2022
 Cryptocurrency  (currency, p2p, COVID-19/Economy)   | |
|---|---|
| Interest of | • Daniel Bruno • Agustín Carstens • Dollar Vigilante • Nikolai Mushegian |
| Digital currencies with computer generated security protection. Called a WMD by American geopolitical analysts. | |
Cryptocurrency, sometimes called crypto-currency or (confusingly) just "crypto", is a form of currency that exists digitally or virtually and uses cryptography to secure transactions. Cryptocurrencies don't generally have a central issuing or regulating authority, instead using a decentralized system (e.g. a blockchain) to record transactions and issue new units.
Contents
Process
"In cryptocurrency networks, mining is a validation of transactions. For this effort, successful miners obtain new cryptocurrency as a reward. The reward decreases transaction fees by creating a complementary incentive to contribute to the processing power of the network"[1]. "Individual coin ownership records are stored in a digital ledger, which is a computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership. Not reliant on any central authority, such as a government or bank, to uphold or maintain it draws people who favour anonymity. Bitcoin is pseudonymous rather than anonymous in that the cryptocurrency within a wallet is not tied to people, but rather to one or more specific keys (or "addresses")".[2]
WMD
During the rise of computer mining farms with thousands of computers combined together (growing Bitcoin to a $60k US Dollar exchange rate), analysts such as Peter A. Thiel argued cryptocurrencies to be a Chinese WMD aimed at destabilizing the US, by making the cost of living too high for the average American, getting quoted in a large number of US corporate media.[3]
Usage
Trade War
- Full article: US-China trade war
- Full article: US-China trade war
Although the Cold War 2.0 concept was originally formulated with Russia in mind, China has emerged as a focus of the US Deep State. Controlled media focused on China's rapidly[4] structural influence in technology, even being responsible with their state companies such as Huawei[5][6] for securing European governments their vital ministerial departments.
As a result of the shutdown of many parts of the global supply chain, Taiwan came under scrutiny[7][8] for being the de facto sole supplier of computer chips (or semiconductors specifically) for a wide variety of products.
Shortages for every product requiring computer chips, tariffs by the US & EU and increased tensions surrounding Taiwan and Hong Kong, caused prices for computer chips and similar components to skyrocket, making the world extremely[9] dependent on a rapid recovery of the Chinese (or Asian) economy, fuelling tension between Asian and American consumers[10].
Ban
As bitcoin was blamed[11] for the supply chain shortages - with millions of people in lockdown and computer data centres emerging "mining crypto" - China banned the mining or using computers their power to get cryptocurrencies in 2021, drawing attention from the WEF.[12]
Examples
| Page name | Description |
|---|---|
| Bitcoin | A cryptocurrency |
| CBDC | Blockchain hosted replacement for cash, run by central banks |
| Lightening network | Bitcoin micropayment protocoll |
Related Quotations
| Page | Quote | Author | Date |
|---|---|---|---|
| CBDC | “We intend to establish the equivalence with cash and there is a huge difference there, for example in cash we don’t know who is using a 100 dollar bill today ... the key difference with the CBDC is that the central bank will have absolute control on the rules and regulations that will determine the use regarding that expression of central bank liability and also we will have the technology to enforce that.” | Agustín Carstens | October 2020 |
| Whitney Webb | “Bitcoiners should pay close attention to these developments as the DOJ in particular has attempted to paint bitcoin as the payment of choice for well-known terror groups like ISIS and al-Qaida, signaling that the working group proposed by this bill will likely seek to specifically target bitcoin. Adding to this concern is the fact that a slew of recent mainstream media reports — which cite Treasury and FinCEN officials, DOJ officials and CIA analysts — have claimed specifically that “terrorists are turning to bitcoin, and they’re learning fast”, that bitcoin is the “new frontier in terror financing”, and that “bitcoin is helping terrorists secretly fund their deadly attacks”. Even the prominent military think tank RAND Corporation has argued that “bitcoin and the dark web” are the newest terrorist threat.” | Whitney Webb | September 2023 |
Related Documents
| Title | Type | Publication date | Author(s) | Description |
|---|---|---|---|---|
| Declaration of Currency Independence | declaration | May 2021 | John McAfee | The main author, John McAfee, died mysteriously in jail the next month. |
| Declaration of Monetary Independence | declaration | 2021 | Mark Maraia Mike Hobart |
References
- ↑ https://en.wikipedia.org/wiki/Cryptocurrency#Mining
- ↑ https://web.archive.org/web/20181219093844/https://www.bloomberg.com/news/articles/2018-09-13/mystery-of-the-2-billion-bitcoin-whale-that-fueled-a-selloff
- ↑ https://www.marketwatch.com/story/china-may-be-using-bitcoin-as-financial-weapon-against-u-s-says-peter-thiel-11617837743
- ↑ https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwiW3pHR6Yz1AhU9i_0HHeu_DjwQFnoECB0QAQ&url=https%3A%2F%2Fcarnegieendowment.org%2F2021%2F12%2F23%2Fhow-u.s.-businesses-view-china-s-growing-influence-in-tech-standards-pub-86084&usg=AOvVaw32BN7pprBKWzaLJtsIe1r9
- ↑ https://www.oxfordeconomics.com/recent-releases/The-economic-impact-of-Huawei-in-Europe
- ↑ https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwjapcuh6Yz1AhXvwQIHHfcfDFMQFnoECAcQAQ&url=https%3A%2F%2Fwww.politico.eu%2Farticle%2Fus-europe-5g-strategy-huawei%2F&usg=AOvVaw1rHTF7KyC4gtBvRWaARw8_
- ↑ https://carnewschina.com/2021/10/12/cpca-the-shortage-of-chips-is-due-to-monopoly-tsmc-agrees/
- ↑ https://www.wsj.com/articles/the-world-relies-on-one-chip-maker-in-taiwan-leaving-everyone-vulnerable-11624075400
- ↑ https://www.cnbc.com/2021/03/16/2-charts-show-how-much-the-world-depends-on-taiwan-for-semiconductors.html
- ↑ https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwiq2LTr5Yz1AhU0h_0HHb11BpIQFnoECBsQAQ&url=https%3A%2F%2Fwww.bloomberg.com%2Fnews%2Ffeatures%2F2021-01-25%2Fthe-world-is-dangerously-dependent-on-taiwan-for-semiconductors&usg=AOvVaw27yNvkHF0IamdKV-IqvkAJ
- ↑ https://www.economist.com/graphic-detail/2021/06/19/crypto-miners-are-probably-to-blame-for-the-graphics-chip-shortage
- ↑ https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwiQ86no36j2AhWV_6QKHZQZB90QFnoECAQQAQ&url=https%3A%2F%2Fwww.weforum.org%2Fagenda%2F2022%2F01%2Fwhat-s-behind-china-s-cryptocurrency-ban%2F&usg=AOvVaw20xk0IbfQF7a5cEB0emgsy
