WingMakers Forum
Visit SUMBOLA - The Social Reading Platform
Publishers, Authors, Readers, and Talent wanted.


All times are UTC - 5 hours




Post new topic Reply to topic  [ 38 posts ]  Go to page Previous  1, 2
Author Message
 Post subject: Re: Bitcoins
PostPosted: Sun Mar 02, 2014 8:30 pm 
Offline
Senior Member
 Profile

Joined: Tue Oct 28, 2008 7:44 pm
Posts: 413
Gee Starduster, I hardly believe that there is any elite group of people out there that could stop or even control the era of transparency and expansion that we are well into. We need some type of currency for sure in order to exchange and or trade for goods or services. But to say that bitcoins could replace a fiat currency when you can buy said bitcoins with the fiat currency it is replacing is ludicrous to say the least. We are well into 2014 and yet there is still no FEMA camps filled with helpless sheep. The real crooks at the bottom of the scare tactics are the ones scaring you into buying all of your ammo, food stock piles, emergency supplies and now digital tokens. "Breath, breath in the air and don't be AFRAID to care."


Top
 

 Post subject: Re: Bitcoins
PostPosted: Mon Mar 03, 2014 8:29 am 
Offline
Senior Member
 Profile

Joined: Tue Oct 28, 2008 7:44 pm
Posts: 413
I guess that bitcoins could be considered the ultimate fiat currency. It is just a bunch of algorithmically created ones zeros and numbers. It has no intrinsic value at all, the same as any other currency. The currency only has as much value as we give it or the said issuing authority gives it. I like wealth and prosperity in monetary means as much as most, I just feel that bitcoins is perhaps another rabbit hole. Fear and paranoia are great selling tools when it comes to one's security and safety.

Just remember that we set our own boundaries and limitations based on our fears and insecurities. Trust in the Universe, trust in Spirit that all is well and provided for, because if you do not trust Source you do not trust in yourself.


Top
 

 Post subject: Re: Bitcoins
PostPosted: Mon Mar 03, 2014 10:22 am 
Offline
Posting Freak
User avatar
 Profile

Joined: Sat Apr 30, 2005 8:11 pm
Posts: 20378
Location: High Plains of the Front Range of the Rocky Mts in Colorado USA
Multiversal wrote:
Gee Starduster, I hardly believe that there is any elite group of people out there that could stop or even control the era of transparency and expansion that we are well into. We need some type of currency for sure in order to exchange and or trade for goods or services. But to say that bitcoins could replace a fiat currency when you can buy said bitcoins with the fiat currency it is replacing is ludicrous to say the least. We are well into 2014 and yet there is still no FEMA camps filled with helpless sheep. The real crooks at the bottom of the scare tactics are the ones scaring you into buying all of your ammo, food stock piles, emergency supplies and now digital tokens. "Breath, breath in the air and don't be AFRAID to care."



the FEMA camps exist - they are stocked and manned - waiting for Martial law and the panic that it will cause - the Fear of being placed in one of these camps, is what should MOTIVATE you to insure that you don't end up in one ... it MOTIVATES the individual to become INDEPENDENT - to realize their FIRST POINT . Once you have made yourself independent - there is no more FEAR - it's just that simple and if you let Fear serve its intended purpose - and have mastered your emotional reactions to the point where they do not overwhelm you - then there is no reason why you can't USE them appropriately

The BELIEF that we NEED money or some type of "currency" to represent the energy we have put into a project - besides the end results - is satisfied by "the gold standard" - that has a global value attached to it that is accepted by all - equally - fiat money is a CON game - a lot like the Santa Clause con game - it only has importance to those who BELIEVE in Santa - but just like money, we have given it significance beyond our personal beliefs and continue to participate in this con-game of Korp AM - long after we quit believing in Santa Clause - just like we have give Debt value - and are willing to go into debt to prove our worth - living far beyond our means, insures the Slave Masters that we won't be bucking the system we are indebted to and that we depend upon to sustain us .

people don't die from lack of money - they die from lack of genuine Compassion and Understanding etc - that is what sustains us - it is our Life Force and it is given to us all equally and unconditionally ... and Earth/Nature provides the rest - just as Unconditionally ... when I plant my seeds, I don't throw money down the hole to insure their bounty and my health.

One of the suggestions that is repeated through out the original materials, is that we release our dependency on "externals" - specifically the Hierarchies and their sub-groups that have created the Central System that supports the Money Power grid ... that we say NO MORE and turn away from participating in the deception of inequality and dualities that it is founded upon - you have a choice ... and obviously the majority of humanity BELIVES that they need others to support them - when as the materials state, we are all perfectly capable of saving our self ... and the way that we demonstrate - self-realization, is by becoming Independent - which IMO is the "proof" that we actually DO - trust our self.

_________________
"...to know this information and then remain passive—a pure observer—is a programmed response, and that is not an answer to how do I best serve truth? It is a denial of truth.” 5th Interview


Top
 

 Post subject: Re: Bitcoins
PostPosted: Sun Mar 09, 2014 7:23 am 
Offline
Senior Member
 Profile

Joined: Thu Apr 28, 2005 8:28 pm
Posts: 960
Location: Athens / Greece
Multiversal wrote:
But to say that bitcoins could replace a fiat currency when you can buy said bitcoins with the fiat currency it is replacing is ludicrous to say the least.


I don't really get the argument. You can also buy gold and silver with fiat. So? Are they worthless too as a currency that has been historically sound for millenia?

Bitcoins were not intended to be purchased (although that would happen at some point) but rather to be mined through a mining algorithm that distributed the coins over the miners. At this point of time, it requires expensive ASIC equipment to do that, but there are other alternatives as well, like mining other bitcoin-clones and then trading them for bitcoins.

Quote:
It has no intrinsic value at all, the same as any other currency.


Actually, unlike paper money, bitcoin is an internet protocol and a service of payments. Does the email protocol have intrinsic value? Does the web protocol have an intrinsic value? Does paypal or electronic visa payments have intrinsic value? Yes, all of them do, and trillions are based upon them. The same is true for the bitcoin protocol.

Visa, western union, swift, mastercard, paypal, these are like multi-hundred-billion-dollar businesses for transferring money from point A to point B.

90% of all online transactions are through M/C and Visa - and they are taking quite a hefty profit from this. Why? Because they offer a service (which is considered of value). And people have been given a tool to do this without vampires/third parties, that suck them off out of every transaction, and without the network being a tool of political manipulation but rather 100% neutral to all transactions that go through it.

People don't need to have a "bank approval" to use banking services (billions on the planet do not have access to banking services whatsoever), or to fear that their money will be confiscated by a government, a tax authority or whatever (although with bitcoin you can lose it if you trust it to third parties - or if you are not careful against hackers etc). They don't need to worry about inflation which is pretty severe for most countries that do not have a strong currency (we are talking about billions of people affected by this and who do not live, primarily, in the west). For countries with problematic currencies, even international trade by individuals is controlled by the state with rules like "you can't spend more than xxx $ per year" etc. Bitcoin bypasses these trade limitations.

_________________
The single most important thing we can do is to practice the heart’s intelligence in our everyday, moment-to-moment expressions.


Top
 

 Post subject: Re: Bitcoins
PostPosted: Sun Mar 09, 2014 10:54 am 
Offline
Posting Freak
User avatar
 Profile

Joined: Sat Apr 30, 2005 8:11 pm
Posts: 20378
Location: High Plains of the Front Range of the Rocky Mts in Colorado USA
the process of releasing our dependency on what we have come to believe - sustains us, is a slow process ... bit-coin is an Aide, to making that transition - because it is NOT deceptive ... we all KNOW that those little brass coins - have no monetary value - but they do have many advantages over the currency that the Elite are so heavily invested in- and control so completely ... I think we are all aware of their ability to manipulate the Money Power grid ... and many have been using "alternate" currency (PMs) to avoid some of that control - but now they are controling the PMs as well - by hoarding enough to manipulate the Markets at will ... so out of necessity came the idea of Bitcoins ... because it makes little or no sense to "hoard" them - because they fluxuate dramatically from day to day ... base upon a FREE market - outside of the restraints that "money changers" have placed on the world's currencies ... I am very encouraged by the amount of people who's minds are open enough to understand how they are being manipulated, and their desire to get out of that "central system" ... but the fact remains that as long as we are using the Central Systems currency to buy - and basing Bitcoins value on it - we really aren't free - and that can be easily remedied when the Bankers have control over how you spend your money - which is what the digital currency will do - unless Bitcoin breaks free and becomes Independent - it could be looked at as the ultimate "barter" item, that people are willing to trade their goods for - outside of the established local markets (again dominated by the Elite) - it completely cuts out the "middle-man" who does nothing - but gets paid a fee for "handling" your money ... therefore it does have value - more value to the individual than the present "currency" and the fact that it is global - presents a real threat to those who make their living off of transactions ...

for example --- before the internet and electronic banking, when you traveled around the world and needed to exchange your money to spend in the various countries' local markets - you had to go to the bank ... and without current figures that computers now supply- the Banks weren't able to keep up with the exchange rates ... if you were in a place, where the bankers didn't have access to a "ticker tape" sometimes the exchange rates were not "fair" ... and the bankers KNEW that but were not willing to take a risk - that threatened their bottom line (that allowed them to BE in that business) , so they hired men, that sat, just outside the Bank- to take you to the "black-market" where there were people (desperate for sales) that were willing to take the risk and give you a better exchange rate - these bank employees were paid a small fee by you for taking you there - and they gave a small percentage of that to the bankers - as well as getting a fee from the individuals at the Black Markets, who exchanged currencies as compensation for making them their "favorite" ... so even in the Black Market there are still individuals making money off of your money (just not as much) Bitcoin eliminates the middle men completely - its value is unchanged around the world (which wasn't possible until the internet) and has the same agreed upon value - for both the buyer and the seller (at any given moment) - without any "hidden fees" that reduce the value of your money - all you need to make a "fair" and "Free" transaction is two willing people willing to use bit coins

just imagine if the entire world's populations cut out the middle man - it would separate commerce into three levels - the common man (using bitcoins in a free market) - the Corporations (using "legal tender and charging "exchange rates" ), and the Elite (who use nothing but PMs - but are willing to pay fees for exchange) - because we all know how the con-game is played ... the more "credit" that you have established, by using the Korp system- the better your exchange rate - the Elite are heavily invested in the world's banks, so they don't mind paying a fee - because it is basically still making them money - but bitcoins can not be used by them due to the volume of international commerce that they do - it would dramatically effect the value of bit-coins with each transaction - if they - say- tried to finance a war with them (snicker) - they are not set up for billion dollar trades - and don't offer "credit" - they simply offer a means of trading that doesn't require the exchange of goods - but still offers them something of value that they can use - without having to pay a fee that the Banking systems demand for using their currency.

I really don't see how Bitcoins will survive the move to "digital currency" other than as "collectors' items" (like numismatic coins) once the Bankers have complete control of what you spend your money on - unless the "goods" that you are trading are not "physical" but just a "service" that you provide - like babysitting or yard work or doing your taxes - but if they gain control of the inter-net's free global market - you won't be able to trade bitcoins anywhere but locally to those willing to take the risk of going to jail, for using an alternate system that the "establishment" has vilified because it cuts them out of the loop... but they will still offer the average citizen an incentive to use them locally in the Black Markets... but if the rumors are true, and we go digital in April - it is "too little - too late" - but a valiant effort to make the Central System fair (and free of their manipulations) or at the very least - aware of how many people are aware of how they are being CON-ed into a rigged "game"

_________________
"...to know this information and then remain passive—a pure observer—is a programmed response, and that is not an answer to how do I best serve truth? It is a denial of truth.” 5th Interview


Top
 

 Post subject: Re: Bitcoins
PostPosted: Sun May 04, 2014 8:23 pm 
Offline
Posting Freak
User avatar
 Profile

Joined: Tue May 03, 2005 7:31 pm
Posts: 18411
Location: QUANTUSUM
Alex this is an article posted on the Sumbola website.

https://sumbola.com/articles/17/satoshi ... uch-bigger

SATOSHI'S REVOLUTION: How The Creator Of Bitcoin May Have Stumbled Onto Something Much, Much Bigger


We gave our Person of the Year award for 2013 to Satoshi Nakamoto, the pseudonymous creator of Bitcoin. We know some of you laughed.

If you did, you may want to read on. It's becoming increasingly clear that Satoshi's creation has the potential to change how much of commerce itself works, and for reasons not even many Bitcoin fans realize.

By many accounts, Satoshi came up with a real-world solution to a longstanding computer science paradox known as the double-spend problem, or the Byzantine General's problem (the professor who named it explains why he did so here). The challenge is how to send and receive money online without the need for a trusted third party, such as PayPal, ensuring that the same digital credit standing in for the amount being exchanged isn't being spent twice.

In the real world, this problem gets avoided with cash, which is quite difficult to counterfeit. In practice, digital counterfeiting is much easier.

Satoshi's solution was what has become known as the blockchain: a ledger of all transactions owned and monitored by everyone but ultimately controlled by none. It's like a giant interactive spreadsheet everyone has access to and updates to confirm each digital credit is unique.

It is this technology that programmers are now working to deploy for uses that go far beyond Bitcoin. Satoshi does not appear to have been looking to solve this problem when he created Bitcoin. But his design for the blockchain, which he spelled out in his 2008 Bitcoin spec paper (PDF), has profound implications.

"For the first time, two people can exchange a piece of digital property, without any prior relationship, and in a secure way, over the Internet," Jeff Garzik, one of Bitcoin's core developers (now employed by payment processor BitPay) told Business Insider. "As a computer scientist, and in computer science in general, when you talked about building distributed systems, there tended to be a purely theoretical view about how computers would talk to each other, how to keep them coordinated. Satoshi and the blockchain really solved that problem in an elegant and unexpected way.

"I don't think the computer science community has really caught up yet," Garzik said.

The breakthrough means that, theoretically, any act of commerce on the Web can be decentralized and stripped of a controlling authority.

Perhaps the most straightforward example of a post-Bitcoin service using Satoshi's blockchain is Proof of Existence. Created by Manuel Araoz, a 25-year-old developer in Argentina, the site allows you to upload a file to certify that you had custody of it at a given time. Neither its contents nor your own personal information are ever revealed — rather, all the data in the document gets digested into an encrypted number. Proof of Existence is built on top of the Bitcoin blockchain (there's a 0.005 BTC fee), so the thousands of computers on that network have now collectively verified your file.

A slightly more politicized application of the blockchain is a project called Namecoin.

Currently, the international nonprofit ICANN governs nearly all top-level Web address domains such as ".com."

But three years ago, engineers developed Namecoin, which serves as a new domain-name system for registering Web addresses that end in ".bit." In this case, instead of ICANN controlling the domain name system, you and all the other people in the Namecoin system control the domain names.

Again, blockchain technology makes it so that something that previously required a centralized authority can now be managed via community.

At this point, payment processors like Western Union probably have the most to fear from blockchain competition, according to Gil Luria, a managing director at Wedbush Securities covering financial technology. You may have heard this before, but Luria explained why the blockchain is the true threat: Most processors use hub-and-spoke models, he said, which are able to charge fees for crossing jurisdictions, and for smaller transaction amounts. Decentralizing and distributing the network gets rid of all that.

"It’s a much more competitive business model," Luria told us by phone. "Instead of paying 5% to 10% in fees to Western Union, you're going to be 2% to 3%, possibly even less.

A startup called Ripple represents the most active threat to the mega-processors. (We profiled Ripple, and the group that created it, last month.) Computers all familiar with each other on Ripple's network mutually agree on changes to its blockchain (Ripple calls it a "ledger"). This allows transactions to be processed instantly and without a third party. It's even faster than the Bitcoin network, because everyone using the Ripple ledger gets their own copy of the whole ledger, in contrast with the nodes on the Bitcoin network all sharing a single one.

The blockchain is even stalking credit-card companies. In an interview in Goldman Sachs' note on Bitcoin last March, Fred Ehrsam, the CEO of mega-Bitcoin payment processor Coinbase, observed that a Bitcoin-like payment network would solve the problem of having your credit-card info stored with a big-box retailer like Target. Even sending money through Venmo, the app that lets you text your friends for picking up dinner that one time, still takes five days to clear.

Of course, it's possible the existing financial behemoths could adopt their own blockchain technologies. In the same Goldman note, Goldman information technology services analyst Roman Leal writes that, "just as a flurry of new entrants — such as Square, Groupon, and PayPal — encouraged payment networks and payment processors to develop a mobile payments strategy, we expect traditional payment players to develop digital currency strategies."

Two groups, BitShares and Ethereum, are hoping to blockchain-ify ... everything. BitShares founder and CEO Daniel Larimer has his eye on stock exchanges, voting, music distribution, and so on. He calls such futuristic entities distributed autonomous corporations. To use the music example, Larimer envisions artists having the ability to issue shares in their own songs, encouraging fans to spread the tune far and wide to increase returns.

"We give power to shareholders without centralizing in any way, because we’ve eliminated the barriers to entry for starting a company," Larimer told us at the recent Inside Bitcoins conference. (Incidentally, he said having a conference called Inside Bitcoins was akin to having a conference called Inside AltaVista.)

There are, of course, loads of technological and regulatory hurdles that must still be overcome for all of this to materialize. And there are plenty of things that could be reset on a blockchain. But investors don't seem too concerned: Marc Andreessen (who invests in Business Insider) and Fred Wilson are betting big in this space.

In a recent blog post, Wilson equated the breakthrough blockchain represents to the Web browser and social media. He refers to this moment as the blockchain cycle:

Our 2004 fund was built during social. Our 2008 fund was built during social and the emergence of mobile. Our 2012 fund was built during the mobile downturn. And our 2014 fund will be built during the blockchain cycle. I am looking forward to it.

"I think we see every week now somewhere between one and three entrepreneurs come in with blockchain ideas," Andreessen Horowitz's Chris Dixon told Business Insider. "There's definitely some momentum behind it."

We'll leave you with an extremely futuristic example of how the blockchain could be deployed.

In a talk given last fall at the Turing festival, Mike Hearn, a former Google employee who quit his job to work full-time on Bitcoin, laid out this scenario: A 20-something Scottish girl named Jen wants to meet up with her friends downtown. She doesn't own a car — no one does in the future — so she dials up a cab through a network Hearn calls TradeNet.
Jen's request acts as a request-for-bid on TradeNet, and all the robot cabs available start automatically posting offers, like on an exchange. Jen's node then ranks the bids and presents them to Jen based on criteria including price but also things like whether she's used that cab before and what other people have said about it. All of this is done on a distributed blockchain system, so no centralized taxi company needs to manage the orders.

The blockchain, by the way, will have improved that recommendation process, Hearn says. Currently, many recommendation systems at places like Yelp or Seamless say they use your social network to help you choose services. In practice, they end up producing what amounts to spam reviews, since it's unlikely a friend you trust will have reviewed the same service you're looking into. Hearn says cryptography — without which Bitcoin couldn't exist — has helped reduce spam by providing more authoritative, useful authentication.

In this future scenario, the roads on which Jen is driving will have also become autonomous actors, doing trades with the car on TradeNet. They can submit bids to the car about how much they're going to charge to use them. If she's in a hurry, Jen can choose a road that's a bit more expensive but which will allow her to get into the city faster.

Awesome, right?

"This is possible because of Bitcoin," Hearn says. "Bitcoin has no intermediaries, therefore there's really nothing to stop a computer from just connecting to the Internet and taking part all by itself. All you need to do to instantiate a Bitcoin wallet is generate a large random number."

Hearn gives other examples of where the TradeNet could be deployed, like buying fruit and vegetables, or units of computation time if you're buying clouds services. Any transactions that are fast, lightweight, and commoditized — which the current system Hearn says is bad at — could be done so much better on the Blockchain.

The entirety of Hearn's talk is pretty amazing, and we recommend you watch it.

With a handful of exceptions, like Proof of Existence, it's too early to see fully functional applications of blockchain technology. Ripple, for instance, is still courting financial institutions that would benefit from using its payment rail. Bitcoin's main developers are still figuring out ways to tweak its protocol without bringing down the entire network. And of course there remain a host of outstanding regulatory issues that will need to get sorted out before massive expansion of these proposed services can occur.

The blockchain helps end the debate about what Bitcoin is. There's been discussion about whether Bitcoin is a currency, a commodity, or a technological protocol. There are good arguments for each categorization, but each is unsatisfying in some way.

Now we know why this debate is so unsatisfying. Bitcoin represents a novel form of organization — a blockchain-based entity — that's not quite like anything seen before it.

_________________
The SI IS.

"Oneness, Truthfulness and Equality"


Cathedral - CS&N
https://www.youtube.com/watch?v=7MaSU0ABrnY


Top
 

 Post subject: Re: Bitcoins
PostPosted: Mon May 05, 2014 5:41 pm 
Offline
Senior Member
 Profile

Joined: Thu Apr 28, 2005 8:28 pm
Posts: 960
Location: Athens / Greece
A pertinent quote about opposition to hierarchical stuff, including currency:

Quote:
Dr. Neruda: “It’s a process—both for the individual and the human race. We work on it,
together. We resist behaviors of separation and insert behaviors of oneness and equality. We
disengage from the thoughts, ideas, beliefs, principles, people, organizations, currencies, food,
clothing, fashion, toys, and everything else within the Hierarchy whose roots are nourished by
separation.”


For the record bitcoin is decentralized / peer-to-peer / not-ruled-by-any-authority instead of a top-down / client-server / hierarchical / centrally managed model.

Other references in Neruda 5 about currencies:

Quote:
Dr. Neruda: “Yes. Anu would step in and solve the world’s problems and be anointed. Anu
would use the centralization of the money system to integrate technology into biologic systems
so they would be able to have infinite existence in Bubble One—earth. That way, Anu
reasoned, he could be god in this world forever.
“But as I said, this plan was not perfect in the sense of its infinitude. Anu underestimated the
beings in Bubble Three and beyond.”


(bitcoin is against centralization => towards decentralization)


Quote:
Sarah: “Why are the WingMakers doing it this way? It seems so innocent... I mean, asking
people to become self-aware and practice insertive and resistive behaviors. After hearing all of
what’s happening in the Triad of Power, it seems like we’re using slingshots against their
stealth bombers. They want a money system that makes us perpetually indebted—slaves to the
dollar, and they want this money system to be one currency.
The most powerful people on the
planet with access to the best technology, the best weapons... how can we expect to prevail if
they want transhumanism?”


Describing the debt-issued dollar...

Quote:
“The Triad of Power believes their One World concept is the right concept. They want to
unify humanity through a money system that they control, utilizing technology as another
means to unify. Unity, in their minds, is more like shepherding the human herd into easy-to-
manage corrals and monitoring them for any rebellion. Their form of unity is a chimera. It is
theater for display purposes, and nothing more. Their form of ‘we’re all in this together, let us
protect you’ is simply more illusion and deception. Their plan for Human 3.0 remains fused to
the same functional implants that constitute Human 2.0, and that is separation.


Money system that they control vs a money system that they don't.

And a note of caution:

Quote:
Dr. Neruda: “True, but whatever technology is released, they will find a way to use it to their
advantage. It doesn’t matter what the technology is, they will find a way to subvert it, modify it
and use it for their agenda.
These are extremely bright beings that are obsessed with the
centralization of power and control so that Anu can insert himself without resistance.”

_________________
The single most important thing we can do is to practice the heart’s intelligence in our everyday, moment-to-moment expressions.


Top
 

 Post subject: Re: Bitcoins
PostPosted: Mon May 05, 2014 10:27 pm 
Offline
Posting Freak
User avatar
 Profile

Joined: Tue May 03, 2005 7:31 pm
Posts: 18411
Location: QUANTUSUM
Alex thanks for this about bitcoins and a change in the money system, it's brilliant! However, one reason why I think this Fifth Interview was actually written in 98 or before is because the second coming of Anu has been stopped as stated per the Camelot Interview about the HMS where James revealed that, and, a person had reached Conscious Sovereign Integral status in a human instrument after 1998 which this fifth interview hasn't acknowledged as having been done yet.

_________________
The SI IS.

"Oneness, Truthfulness and Equality"


Cathedral - CS&N
https://www.youtube.com/watch?v=7MaSU0ABrnY


Top
 

 Post subject: Re: Bitcoins
PostPosted: Tue May 06, 2014 9:18 am 
Offline
Senior Member
 Profile

Joined: Thu Apr 28, 2005 8:28 pm
Posts: 960
Location: Athens / Greece
It's not that hard to use the interview with january 1998 data to make it "historically accurate".

_________________
The single most important thing we can do is to practice the heart’s intelligence in our everyday, moment-to-moment expressions.


Top
 

 Post subject: Re: Bitcoins
PostPosted: Thu Jul 24, 2014 11:42 pm 
Offline
Posting Freak
User avatar
 Profile

Joined: Tue May 03, 2005 7:31 pm
Posts: 18411
Location: QUANTUSUM
Bitcoin to Earth: Don’t Look Now, but your Paradigm is Shifting
by Harold Finch

Historians may look back on these current days with fascination. We may be living through the beginning of one of the biggest paradigm shifts in modern human history. The way the world actually thinks about money and stored value might be changing in a tidal wave of recognition. This article will define what a paradigm is and what a paradigm shift looks like. Perhaps we may understand how to prepare and perhaps benefit from the embryonic beginnings of what may one day be seen as a titanic shift. The idea sparking this sea of change came from humble beginnings but has spread like wildfire accompanied by the necessary controversy one might expect from a monumental paradigm shift of understanding. One may seek learning opportunities from a rich history of previous major paradigm shifts and ponder the reasons for why some people flourished while others withered. As the cycles of paradigm shifts are recognizable and repeatable, this article intends to bring new understanding and context to the events now taking place. Those with the early grasp may draw from the lessons in history to prepare and anticipate the events as they unfold and perhaps discover an opportunity for profit.

What is a paradigm?

In effort to understand the world and events surrounding us, humans classify and categorize their own version of reality into a framework of reality we refer to as a paradigm, also known as a model. We draw ’cause and effect’ relationships and begin to correlate groups of related information into patterns to bring understanding to our lives. In the discipline of science it has become known as the Scientific Model. Over time, cultures, trade groups, religions, etc. will espouse teaching that view and establish a consensus for a view of reality. This can sometimes lead to rivalries between different camps interpreting the world in different ways. This process runs the risk of reinforcing incorrect judgement and opinions that can side-track generations and go unnoticed because of the negative pile-on effects of groupthink. The human natural tendency is to form into a hierarchy whose leaders determine “the official line” for the group. Once this is established, any person, or observable fact which might throw into question the belief of the paradigm will be seen as irrelevant, or even willfully ignored in their group. One’s paradigm becomes the lens from where they view the world. Observation of the same data may be interpreted vastly different depending on the lens of those viewing it.

Image

The portrait above has been used in case studies about perception including research included in Stephen R Covey’s bestselling reference book “Seven Habits of Highly Effective People”. The first classroom students were were told to see the portrait of a young woman, after which the picture above was shown to them for a few seconds. Then another group of people were separately told beforehand about the portrait of an old lady facing to the left. They too were allowed to view the picture for only a few seconds. Through simple power of suggestion, the definition of which figure they should find was already given to them. This act gave them bias – to only find and agree to what they were told they were seeing. When they were finally allowed to gather as one group, each group was instructed to explain to the other group who the picture represented. Except for a few exceptions, many disagreements broke out, sometimes loudly, as each camp was convinced they alone were correct. This example showed the dramatic difference people defend over only a difference of opinion created in just a few seconds. Covey went on to explain how we don’t see the world how it is in reality, but how we see ourselves projected into the world. We also project our backgrounds, education and customs into the paradigm and expect those around us will see the same thing.

What is a paradigm shift?

Thomas S. Kuhn, a noted scientist and author discovered a startling pattern that showed all of major scientific and technological breakthroughs don’t happen on a predictable linear scale as was previously assumed. They happen with sudden insights, explosion of thought and eureka moments. He challenged the entire scientific discovery process in his highly influential landmark book entitled “The Structure of Scientific Revolutions”, which was originally printed in 1962. The ideas espoused in this book triggered a worldwide reassessment which took into account several scholarly fields such as history, philosophy, sociology, and scientific knowledge. Paradigm shifts tear down the established models and completely rewrite the rules. These shifts are often unbelievable to the establishment at the top hierarchy of the previous model. The pattern emerges showing many of those leaders nearest the top of the hierarchy, who also have the most to lose in a paradigm shift, tend to fight the changes the most.

All the significant breakthroughs were “BREAK-WITHs” old ways of thinking.

-Thomas Kubn. author of “The Structure of Scientific Revolutions”


Thomas Kuhn’s work with Structure of Scientific Revolutions outlined five major phases of a paradigm change. For the purposes of this article, we substitute the term “scientific” to mean economic, or monetary theory. This article goes on to give scenarios of how these phases might be applied to the paradigm change bitcoin is filling.

1. Pre-paradigm period. Economic data is available but unorganized. There is little cohesion or organization for value for trade. Stateless bartering is the norm. Few records are kept and simple currencies are created.

2. Normal science. Data is gathered into patterns which can be predictable and repeatable. Trends emerge. Cause and effect are demonstrated. The first paradigm is created and general understanding among ‘experts’ is agreed. Schools of economic theory are formed. Governmental economic planning and central bank policy guidance begin to enforce.

3. Model Drift. Basic belief and understandings of the model begin to break down. Unemployment numbers rise, banks begin to fail. The law of unintended consequences result when overly broad central decisions are made for complex systems. Today, government economic experts make regular ad-hoc adjustments for headline reports including the calculation of inflation and the method of which to calculate unemployment. They change the underlying definitions to make the data match the results rather than measuring data and coming up with different theories or models. This results in a patchwork of quiet adjustments in attempt to keep the current paradigm relevant. Yet it continues to drift.

Image


4. Period of Crisis. Breakdowns in predictive models happen. In economics and currencies – we see unpredicted anomalies. Hyperinflation, financial bubbles, housing crashes, rising unemployment, and government budget shortfalls are all unexpected consequences resulting in a growing sense of something being fundamentally wrong. Without this necessary crisis phase there may not be need to evaluate and recognize that a new paradigm is even possible.
5. Revolution. One paradigm is replaced by another believed to be better or more accurate. There will be “teams” that develop and divisions into their own camps that may be so different that they can’t agree even on the language terms and lens from which they view and speak of the data. In past paradigm changes there was little neutral ground to be found. Perhaps the concept of a complimentary currency system that combined current national currencies with a digital currency that is nation-less and trust-less and a strict creation limit will be favored. The unemployed, unbanked, and underrepresented population living in the margins of society see their hand held currencies becoming increasingly worthless. While the money printing press just keeps pumping out more of the same, the new paradigm needs might reach a tipping point. At one point, critical mass may develop and the floodgates open to people ‘opting in” to the new paradigm. People may simply ignore the old one as it becomes irrelevant. There aren’t many weeping over the loss of dial up modems to connect to the internet.

What does this have to do with bitcoin?

In many ways bitcoin is a complete break with the old ways. The fundamental principles are vastly different. It is a break with previous paradigms and rewrites money creation, protection, transfer, record keeping, validation, trust, privacy, and nation-created monopoly function. Many times throughout history it takes a crisis to completely motivate people to move from one paradigm to the other. With worldwide record deficits and money printing happening globally show we are in unprecedented times with the old paradigm of economics. New money is pushed to the banks without customer demand for it so banks invest it in alternative non productive places and segment bubbles form. When these bubbles eventually pop, the central banks take no responsibility for the ensuing trauma that displaces jobs and homes. In the world’s largest single economy, the US money printing continues to accelerate while record budget shortfalls and unprecedented levels of debt and politicians and officials can’t balance the budget. Even new all-time highs in tax collection can’t keep up with spending in the US. Nobody seems to know or can predict how this will end on a global level. We’ve seen this happen ad infinitum from countries ruining their economies and their citizens’ life-savings through hyperinflation and retirement confiscation. One might ask if we’ve already begun the crisis phase where one perception of reality literally falls apart and the other opposing paradigm wins by default? This cycle for the scenario plays out repeatedly in history – as Thomas Kuhn indicates in his book, citing several examples.

Money creation – as a currency

Old Paradigm: Created by central banks and lent to their respective governments based on supply and demand. It requires trust in the government to get it right to know how much currency is needed, but can be heavily influenced by politics and the human frailties. Politicians often mean well but often “paper over” problems by just printing more money to make bad financial decisions less obvious. It’s the hidden tax of inflation that benefits a government in the short-term with the ability to print its own money to pay for immediate needs, but at the expense of its population whose standard of living decreases with the then less valuable resulting currency. The resulting paradigm indicates that currencies created in this manner eventually becomes worthless.

New Paradigm: Money is also created through a mathematical formula which forces it to be restricted and predictable. Changes can be allowed and the code can evolve to meet new needs but it must meet the approval of the network through majority consensus which is in effect, the democratization of money. The most popular digital currency, bitcoin, has a guaranteed declining rate of creation. With limited supply, usefulness and expected demand increase, experts predict the price will likely increase over time.

As a nation-less currency:

Old Paradigm: Money as paper fiat currency’s value lessons over time. If you would have taken $50,000 of US dollars and $50,000 in gold in 1970 and buried them in two different boxes, which of the two would buy you more goods? Your paper money would only buy you about $8,200 (inflation calculator found here). Yet gold was about $36.00 per ounce in 1970 and today’s purchase value is $1,860,000. This indicates the US dollar, when compared to its predecessor form of money (gold), shows the value has declined on average 9.4% each year. Any country can easily print as much currency as they want to shuffle to another country for trade – but it is essentially passing pretty pieces of paper to each other (or the equivalent ones and zeros through a computer). The value is backed up by the reputation and economic prosperity of the nation which prints it. The government forces value by insisting their citizens pay taxes back in the currency.

New paradigm: It was estimated in February 2014 there are only about 1.2 million people own any bitcoin worldwide. There are numerous intrinsic economic qualities which make it unlike any currency created before. As it gains acceptance and understanding the network effect for the idea whose time has come may create greater confidence. With regular everyday use, the expectation could be set where it will buy the same amount of goods or services on any particular day as it did the previous day. This expectation and regular heavy use may create a monetary “flywheel” with enough momentum it could become difficult to stop. With worldwide acceptance and not belonging to any country, some are now asking if it’s possible if this new paradigm could result in a new world reserve currency to work in a complimentary function to national currencies.

As a payment network

Old paradigm: The banking system has become enriched and one of the most powerful industries in the world. The mechanisms they use for the intra-bank money transfers is a closed system ensuring it retains the right to keep those rails private and profitable. Banks tend to charge fees almost every time money changes hands or simple columns in a ledger. Money became a tool for surveillance through the same networks with government pressure.
New paradigm: Digital currencies also act as the pay and the payment networks themselves. As transactions are simply verifiable data exchanges and they work on the open internet, on an open ledger without centralization or private books to keep. There are low fees, or no fees depending on the speed of the transaction. There is no need for a bank or company at all to transfer money on the payment network.

How our paradigm is shifting

Where are we now? The World Bank, Federal Reserve, International Monetary Fund, Bank of International Settlements, and most recently, the BRIC nations have all sounded the alarm bells: it seems that we have been in a period of crisis for years. Governments have been printing money faster and trying to devalue their own money so they can export their goods to other countries in what has become a perverse competition some people call a “race to the bottom”. Financial experts explain the consequence hurts wages, jobs, livelihood, and standards of living. The mix of conditions might all be ingredients for a worldwide fundamental shift in the concept of value and money, how it is created, transferred, and earned. Banning and fighting digital currency technology may prove futile in the long run. Those who adapt first to new paradigms often benefit most. We do not know yet where this experiment will lead… perhaps as a ‘co-currency’ to act as a monetary shock absorber or throttle. Maybe it’s used as a monetary backup plan or simply a trusted and efficient payment transfer mechanism. Perhaps digital currencies with limited supply might offset infinite money creation to bring stability and confidence as the two work side-by-side in a complimentary “yin and yang” relationship. One might imagine supplementing various national currencies with a common thread possibly underlining all of them. It’s doubtful that the world today would be aware of the potential boundaries of the new digital economy we are entering. Perhaps the new paradigm matches to the early days of the discovery of electricity and its potential. Early electricity pioneers such as Ben Franklin would likely have no conception of how far what began as a parlor trick using static electricity would become the basis from which the entire world would one day function. We might expect tragedies as well as triumphs, as history has given proof of major paradigm shift creating victims (deaths from electricity electrocution during experimentation), and air travel (countless early pilots) among just a few. Perhaps Victor Hugo’s powerful prophetic observations will apply again as the world comes to grips with the monetary revolution starting with the paradigm shift already in process. Perhaps this statement by Victor Hugo can give pause to those about to enter “crisis mode” and give hope and the possibility of prosperity for those preparing for a revolutionary stage of the cycle.

There is one thing stronger than all the armies in the world, and that is an idea whose time has come.



https://sumbola.com/articles/135/bitcoi ... s-shifting

_________________
The SI IS.

"Oneness, Truthfulness and Equality"


Cathedral - CS&N
https://www.youtube.com/watch?v=7MaSU0ABrnY


Top
 

 Post subject: Re: Bitcoins
PostPosted: Fri Jul 25, 2014 6:47 pm 
Offline
Posting Freak
User avatar
 Profile

Joined: Tue May 03, 2005 7:31 pm
Posts: 18411
Location: QUANTUSUM
US Government Bans Professor for Mining Bitcoin with A Supercomputer
by Harold Finch

The NSF or National Science Foundation Office of the Inspector General (OIG) just posted on their website their March 2014 Semiannual Report to Congress (PDF with metadata create date of 5/27). This report contains a write-up on an “Administrative Investigation” by the OIG entitled “Government-wide Suspension Recommended for Researcher Who Used NSF-Funded Supercomputers to Mine Bitcoins” (full extract at bottom).

The National Science Foundation according to itswebsiteis “an independent federal agency created by Congress in 1950 ‘to promote the progress of science; to advance the national health, prosperity, and welfare; to secure the national defense…’”

According to a “Special Report” from NSF, “From SuperComputing to the Terragrid” (Mirror) a 1982 report “Large Scale Computing in Science and Engineering” (PDF) by Peter D. Lax affectionately referred to as the “The Lax Report” (under the sponsorship of the Department of the Defense [DOD] and the National Science Foundation), “led to the emergence of significant new NSF support for high-end computing, which in turn led directly to Supercomputer Centers.”

Recent supercomputing breakthroughs include “NSF-funded Superhero Supercomputer {That} Helps Battle Autism.” The computer referred to as ‘Gordon’ uses unique flash memory to assist in identifying gene-related paths to treating mental disorders according to the March 26, 2013 press release. NSF also supports the “Unique, High-Performance Supercomputer Center,” the PRObE Center of Los Alamos, “the world’s first supercomputing system for large-scale systems research” according to another press release from October 24th, 2012. The OIG report does not mention the supercomputer research facilities whose computer resources were misappropriated (nor the name of the professor who did the deed) and we have no reason to believe that either of these facilities were involved in the breach.

In fiscal year 2014, NSF’s annual budget is $7.2 billion and the Foundation funds almost a quarter of all federally supported basic research conducted by America’s colleges and universities.

Absurdness of Mining Bitcoin Right Now with a Supercomputer

In December 2013, Nathaniel Popper of the New York Times interviewed Michael B. Taylor, a professor at the University of California, San Diego, UCSD Center for Dark Silicon for his article “Into the Bitcoin Mines.” Professor Taylor explained that:

“Today, all of the machines dedicated to mining Bitcoin have a computing power about 4,500 times the capacity of the United States government’s mightiest supercomputer, the IBM Sequoia. The computing capacity of the Bitcoin network has grown by around 30,000 percent since the beginning of the year.”

We caught up with Professor Taylor who provided an update on these metrics:

“Today, all of the machines dedicated to mining Bitcoin have a computing power about 58,600 times the capacity of the United States government’s mightiest supercomputer, the IBM Sequoia…{note: now second most powerful after “Titan” according to Top 500} …The computing capacity of the Bitcoin network has grown by around 1,300 percent since the beginning of the year.”

Professor Taylor also happens to be a NSF funded researcher (of no relation to the professor who misappropriated the use of supercomputers to mine for bitcoin). His 2013 research paper “Bitcoin and The Age of Bespoke Silicon” was partially supported by NSF Awards.

Professor Taylor said that the “NSF is generally interested in the advancement of science, which includes cryptocurrencies and many other exciting developments in the scientific world.”

Indeed, NSF funded (in part) well known research by Nicolas Christin of Carnegie Mellon INI/CyLab, “Traveling the Silk Road: A Measurement Analysis of a Large Anonymous Online Marketplace“ (PDF), University of California and San Diego George Mason University researchers papers “A Fistful of Bitcoins: Characterizing Payments Among Men with No Names” (PDF) and “Botcoin: Monetizing Stolen Cycles” (Ref: “Using stolen computer processing cycles to mine Bitcoin”) as well as research such as Doctoral Dissertation Research: Making Real Money: Local Currency and Social Economies in the United States” with a stipend of $5,227 which was awarded in 2005 and “NeTs: Small: Economic Incentives for P2P: Theory and Design” awarded in July 2010 with a total of $466,000 awarded towards NeTs to date (and expiring this August).

We asked Michael about the “futility” of mining bitcoin with a supercomputer and he told us that:

“In a day, Sequoia could mine about 40 dollars worth of bitcoin, but it consumes about the same amount of electricity as 4,000 homes: 8 megawatts. They would pay more money in electricity costs each day than they would earn.”

Using a Supercomputer to mine for bitcoin is both appalling and shocking to common sense. That said, we are uncertain of the exact metrics to use to extrapolate the efficiencies (or lack of thereof) of mining for bitcoin during the period in question. However, that won’t stop us from trying to second guess the scant data provided by the OIG report (FOIA request anyone?).

The only computers designed to efficiently mine for bitcoin are ASIC or Application-Specific Integrated Circuit “mining rigs” (a.k.a computers). One such rig produced by KnCMiner costs approximately $6,000 and “minimum 3000GH/s of hashing speed that 3TH.” Eric Turner, founder of CoinChomp estimates that Neptune should consume 4,500 Watts. The current price tag for the IBM Sequoia supercomputer cost close $250 million dollars. To create its electricity, cost is estimated at $9 million a year or about $24,655 per day according to Steve Henn at NPR.

It is likely the $150,000 mentioned in the OIG report as “NSF-supported computer usage” was the electrical cost of mining on the supercomputer or potentially mining for 6 full days.

While mining on hardware designed for processing Bitcoin transactions is the most efficient way to mine Bitcoin, the supercomputer was most likely chosen for its availability and the electrical costs were not paid by the miner. The only steps necessary to mine Bitcoin are installing software designed to process SHA-256 hashes and configuring that software to mine on a specific mining pool.

There may have been additional measures taken to hide login access to the computer, but it would have been difficult to hide the supercomputer’s power consumption while mining for Bitcoins.

History Repeats Itself

This may or may not have been the first time a supercomputer was misused to mine for Cryptocurrency. Theodore R. Delwiche reported on February 20, 2014 in The Harvard Crimson that “Harvard Research Computing Resources Misused for ‘Dogecoin’ Mining Operation:”

“A member of the Harvard community was stripped of his or her access to the University’s research computing facilities last week after setting up a “dogecoin” mining operation using a Harvard research network, according to an internal email circulated by Faculty of Arts and Sciences Research Computing officials.”

One of the earliest references we could find for the misappropriation of computer time was an interesting case from 1967. According to Paul Andrews, in his 1994 biography “Gates: How Microsoft’s Mogul Reinvented an Industry–and Made Himself the Richest Man in America,” a “runty freckle-faced eighth grader” known by the name of Bill Gates punked C-Cubed computer company while learning the computer programming language BASIC. Gates and his fellow students had become “addicted to programming.” Even though Gates received a 20 percent educational discount, computer “time sharing” costs became too costly. “Real people had to pay for computing time” but “Accessing the accounting files, where the passwords were stored, seemed like just another challenge…Bill Gates and his friend Paul Allen were clearly the ringleaders.” Andrews wryly explains “The kids were testing the system, just doing a little digital shoplifting. What harm was there in appropriating unused computer time protected with only the flimsiest of barriers?”

While Bill, Paul and company were banned from the computers for the summer, it’s not known if our present day Bitcoin pirate was technically “debarred” under the “Office of Federal Contract Compliance.” The OIG has a section of the report which discusses “Total Accountability: Suspension, Debarment and Beyond” and mentions debarments in “Civil and Criminal Investigations” and “Research Misconduct Investigations.” Our computing power thief is not one of them as this was listed as an “Administrative Investigation” none of which involved a debarment. According to the report, NSF “suspended” the researcher “government-wide.” The suspension is assumed to be indefinite as there was no time-frame provided.

Full Extract from the National Science Foundation Office of the Inspector General March 2014 Semi Annual Report to Congress:

Government-wide Suspension Recommended for Researcher Who Used NSF-Funded Supercomputers to Mine Bitcoins


We received reports describing a researcher’s abuse of NSF-funded supercomputing resources at two universities to conduct bitcoin mining activities. Bitcoin is a virtual currency that is independent of national currencies, but it can be converted into traditional currencies through exchange markets. It is generated or “mined” through a process that is by design computationally intensive.

The researcher misused over $150,000 in NSF-supported computer usage at two universities to generate bitcoins valued between $8,000 and $10,000. Both universities determined that this was an unauthorized use of their IT systems. The researcher asserted that he was conducting tests on the computers, but neither university had authorized him to conduct such tests — both university reports noted that the researcher accessed the computer systems remotely and may have taken steps to conceal his activities, including accessing one supercomputer through a mirror site in Europe.

The researcher’s access to all NSF-funded supercomputer resources was terminated. In response to our recommendation, NSF suspended the researcher government-wide.

https://sumbola.com/articles/72/us-gove ... ercomputer

_________________
The SI IS.

"Oneness, Truthfulness and Equality"


Cathedral - CS&N
https://www.youtube.com/watch?v=7MaSU0ABrnY


Top
 

 Post subject: Re: Bitcoins
PostPosted: Tue Oct 07, 2014 10:37 pm 
Offline
Senior Member
 Profile

Joined: Thu Apr 28, 2005 8:28 pm
Posts: 960
Location: Athens / Greece
http://planetworkpress.com/pwpcart/inde ... =page&id=9

Quote:
A global communication network (internet) is the key technology that indicates a species is on the road to the Grand Portal. It is the back door to consciousness exploration, and the new leadership and educational platforms will flourish on the internet. Everything is moving away from centralization, and the Controllers realize this. They have attempted to prevent it, but they see that it is inevitable like a dam that holds back an incredible force of water, and the dam’s cracks are building.

The next three generations will decentralize economies, educational processes, wealth, and even government. Hyper-local, decentralized, but globally connected communities will prosper, and these will be the building blocks to a new social order based largely on egalitarian meritocracy.


Decentralized economy...

Bitcoin is the first trust-less decentralized payment system (2009). We are now on our way to decentralized asset exchanges / stock-markets etc, through similar technologies like Bitcoin.

_________________
The single most important thing we can do is to practice the heart’s intelligence in our everyday, moment-to-moment expressions.


Top
 

 Post subject: Re: Bitcoins
PostPosted: Wed Nov 05, 2014 1:53 am 
Offline
Posting Freak
User avatar
 Profile

Joined: Tue May 03, 2005 7:31 pm
Posts: 18411
Location: QUANTUSUM
WILLIEDAL SPAMMER

Board presence

User statistics
Williedal
Junior Member
Online
[ Add friend | Add foe ]

Joined: 15 Sep 2014 10:28 pm
Last visited: 05 Nov 2014 12:53 am
Total posts: 19
[0.02% of all posts / 0.38 posts per day]
Search user’s posts
Most active forum: News Room and General Member Announcements
[ 19 Posts / 100.00% of user’s posts ]
Most active topic: How does your garden Grow ?
[ 5 Posts / 26.32% of user’s posts ]
Contact

Profile
E-mail address:
PM: Send private message
MSNM/WLM: MSNM/WLM
YIM: YIM
AIM: AIM
ICQ: ICQ
Jabber:

Groups:
Location: Colombia
Occupation: Construction, facilities
Interests: Video games
Website: http://www.arabiahq.net/

_________________
The SI IS.

"Oneness, Truthfulness and Equality"


Cathedral - CS&N
https://www.youtube.com/watch?v=7MaSU0ABrnY


Top
 

Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 38 posts ]  Go to page Previous  1, 2

All times are UTC - 5 hours


Who is online

Users browsing this forum: No registered users and 1 guest


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Copyright © 2005-2012 WingMakers.co.uk