James Corbett: “What is The Price of Bitcoin in Dollars – Precisely the Wrong Question”…”The piece of the Bitcoin code created by the NSA is a hash function called SHA-256.”
By: Rory Hall
GoldSeek.com
Thursday, 1 February 2018
Cryptocurrencies are not anonymous and they are not decentralized, period. This is to say nothing of the dangers they pose as being “pirate money” that can create real world problems for a persons life. If you don’t believe me simply ask Randall Lord, Ross Ulbricht or anyone that has had their “wallet” hacked or stolen on any number of exchanges where cryptocurrencies are bought and sold. Whom can they turn when the wallet is drained of 100% of it’s contents?
I am all for free markets and free market innovations. I have been and will continue to be skeptical of a technology that was introduced to the world by a ghost. A ghost is something that comes out of the ether, has no material being and is not part of this world. Well, that perfectly describes Satoshi Nakamoto. Is it a little suspicious the “bitcoin” white paper was introduced to the world on Halloween 2008 at the very height of the financial meltdown or is it just me that sees this through a lens of skepticism?
Is it a little suspicious the foundation for Satoshi Nakamoto’s white paper was actually developed by the NSA and MIT in 1996 and now we learn the all important SHA-256 technology was also developed by the NSA.
The piece of the Bitcoin code created by the NSA is a hash function called SHA-256. SHA stands for Secure Hashing Algorithm. The hash is the expected outcome. An algorithm can be executed on a piece of data, and the output of that algorithm should match the hash. But you can’t figure out what the data was with just the hash. It only works in one direction. And there are enough different combinations that it is virtually impossible for any two pieces of data to create the same hash. Source
The evidence continues to mount that shows these cryptocurrencies are part of a beast system intent on enslaving the masses. The evidence is coming not only from governments and bankers but more importantly from the cryptocurrency experts themselves. The more that I know the more terrifying cryptocurrencies become.
I have been told time and again that I just don’t understand and I just need to research and study how cryptocurrencies work. Well, I have been studying and researching, but I am not interested in what the “charts” are telling me or “how rich I’m going to be” or how cryptocurrencies are going to revolutionize the currency system. No, let’s research what the policy makers are saying and, more importantly, what the policy makers are doing. Well, come to find out, they are saying and doing a lot about a handful of “pirates” attacking their source of power and control. Seems as if no one, with the exception of myself and Ken Schortgen and Chris Duane are actually looking behind the curtain to see what the developers are doing and ask who are these developers. It doesn’t matter what the crypto-crowd says, or doesn’t say, and it doesn’t change the facts.
We have reported what Andreas Antanoppolis stated a couple of years ago when ask the question – “do you have a totalitarian government? because I don’t want to live under that type of government.” Well, Andreas you already do. You just haven’t bothered to look around, earnestly, to see the walls closing in on your life, property and wealth.
It’s no secret that governments around the world are being strangled with unplayable debt. It is no secret the banking system, the too big to fail banks, became insolvent in 2008. These corrupt enterprises need a new “game” to continue the ponzi scheme charade and continue tricking the people into believing that government has all the answers and banks are how you conduct financial transactions. Neither of which is true but the mass of people do not understand this and, therefore, continue to allow these corrupt enterprises to dictate their lives.
Enter a “way out” of the banking system and way around government control – a new currency called cryptocurrency. The magic bean has been discovered! There is just one problem – it’s not magic and it doesn’t work as purported by 99% of the people telling you how great cryptocurrencies are and how freeing cryptocurrency are for the masses.
We recently reported on a debate between Peter Schiff and Peter van Velckenberg. Peter V, is a bitcoin advocate and was debating the virtues of bitcoin with Peter S. Only one problem. Peter V told the truth about bitcoin and spoiled his own party.
Now the non-traceable is the other aspect I wanted to address. We talked about the fundamental innovation as to how this thing (bitcoin) works. It works because there’s a ledger. Not only is that ledger traceable, with perfect fidelity, and there’s only one version of it; not a bunch of records kept by five different international correspondent banks that don’t record beneficial ownership of shell companies that open accounts. There’s one ledger it’s called the blockchain. If you know that someone received a payment at an address on that blockchain you see with perfect fidelity every transaction into and out of that address and this is exactly the type of technological tool that law enforcement has used to apprehend the people that have used these networks for bad purposes. Ross Ulbrecht, the guy that created the Silk Road he was caught with his laptop in front of him. They opened it up, they found the public address where he was receiving payments from the Silk Road drug market and that’s unimpeachable evidence that he benefited from every single atomistic transaction for drugs or heroin that happened on that website. Source
The Rest…HERE
