The fact that Bitcoin does not have a tangible existence fosters the amalgamation with the dystopia of a cashless society. However, Bitcoin has as much to do with the digitalization of money as Marxism with Stalin. Anonymity and ownership fundamentally differentiate Bitcoin from a fully digitalized fiat currency (end of cash). But not only…
What is Bitcoin made of?
Satoshi Nakomoto’s cryptocurrency does exist in the form digital. He is a protocol. In other words, lines of codes articulating how Bitcoin works.
It might sound abstract to you, but Bitcoin is essentially the result of what is called a hash function (hash function). It is a mathematical process that can turn any amount of data into a “hash”. A hash being a series of numbers and letters having a fixed length. Bitcoin’s hash function is called SHA256. She’s there blockchain backbone. It is at the heart of the security Bitcoin and the process of ” Mining “.
We could continue by talking about the ” nounce “, of the’merkle tree and other technicalities found in a “block“. But the aim was simply to put words to the point of Bitcoin’s lack of a carnal envelope. Its reality is purely digital, but that does not mean that it can be compared to fiat currency. Everyday currency, the one you spend with your CB, by scanning a QR code.
One of the big differences between BTC and euro / dollar / dinar / peso / etc is that you alone own your Bitcoin. However, it goes without saying that you must be in possession of your own wallet. If your cryptocurrencies are on an exchange, your money is at the mercy of a hack and whatnot. Your Bitcoins don’t belong to you until you own them. private key.[La clef privée est mathématiquement liée à toutes les adresses Bitcoin générées par votre wallet et sont nécessaires pour dépenser votre argent (déplacer vos BTC vers une autre adresse)]
Quite the opposite of money in your bank account. This money does not belong to you. You only have one debt on the bank which could very well one day make bankruptcy… Let’s remember that 3.4 billion deposits were confiscated in Cyprus in 2013. Customers of the country’s largest bank, Bank of Cyprus, were forced to exchange 47.5% with all their savings above 100,000 euros against bank shares that are no longer worth anything … We always tell ourselves that it only happens to others …
Bitcoin is anonymous in the sense that the components of Bitcoin (addresses, private and public keys, transactions) are not directly linked to an identity.
Of course, this is no longer true if your address is generated on an exchange knowing your identity …
Bitcoin addresses are “anonymous” as long as they cannot be traced to an identity. Otherwise (if you post your BTC addresses on your twitter bio …), Bitcoin offers no anonymity. Worse, absolutely all your past transactions carried out from such or such address will be known. Indeed, the Bitcoin blockchain is an open book. All transactions are absolutely transparent and viewable by anyone.
It is theoretically possible to trace a BTC address (already in use) to an IP address. And then let’s put our feet up. We are all constantly spied on … Edward Snowdenot – currently a refugee in Moscow pending a possible pardon from Donald Trump – was charged with high treason for revealing to us the global espionage program of the NSA (National Security Agency).
We now know that this US government agency can intercept all of our communications, read our emails, listen to our telephone conversations, consult our call histories, listen to our conversations even if we are not calling, go through our purchase history or activate the camera on our computers and smartphones…
Snowden’s revelations suggest NSA intercepts five billion of mobile phone GPS locations per day… In particular, she uses this espionage capability to monitor all projects over 250 million $. Useful for meeting American multinationals in order to increase their chances of obtaining international contracts …
The NSA uses several programs now well known as PRISM or Xkeyscore for whom all our privacy settings have been switched to “ public “ by Facebook, Google and Microsoft. Yes, Mark Zuckerberg is the boss of America’s Favorite Spy Services Directory. Mass surveillance agents only need to enter anyone’s name to see their emails, Facebook account, browsing history, passwords, etc. in real time.
Xkeyscore allows you to spy the entire volume of data created by the planet over the last three days while the PRISM software goes even further since it keep in mind the entire digital life of individuals of particular interest to the NSA. A file on each person challenging the “system”.
We urgently need to familiarize ourselves with the many tools at our disposal to protect our privacy. Encrypted emails, VPN (Virtual Private Network IP jammer), the use of pseudonyms or even cryptocurrencies such as Bitcoin which allow us to regain this precious anonymity which protects against the authoritarian excesses of espionage and the analysis of privacy.
The only way to be 100% certain that you are anonymous is to surf the Internet from a PC purchased in cash, having an open source operating system (not the Big Bill Windows), and from which you you will never have logged into a site knowing who you are. It goes without saying that you have to connect in a cafe or on the wifi of a neighbor in the building opposite).
Few people need to be that anonymous … But it’s good to know that using a second-hand smartphone that is not linked to your identity (via a public internet connection) will allow you to pay in Bitcoin incognito. All that being said, generate a new address with each payment (very easy) and creating several wallets is sufficient to achieve a high level of anonymity. If you are not a terrorist or a member of a cartel …
It will all seem far-fetched to ordinary people … Nevertheless, let us not forget that the full surveillance is a prerequisite for totalitarian social control, like Oceania, this dystopian society portrayed by Orwell in 1984. To be resigned to the fact that the powerful can use tools of mass espionage means offer them the opportunity to measure and analyze our deepest self in order to adjust their speeches to better manipulate us. #Facebook #cambridgeanalytica
“Mass surveillance is absolutely not about terrorism and is nothing more than a tool of manipulation, a tool of economic espionage and social influence. “
Bitcoin remains infinitely more discreet than Visa or Mastercard. The latter has also sold our purchase history to Google… And then remember that the Bitcoin protocol can always be changed in due course if necessary
End of Cash
Anonymity is not the only difference between Bitcoin and the euro. Let’s talk about another pitfall: racketeering from banks, states and payment services such as Visa and Mastercard.
These are real parasites that take between 2% and 3.5% of the amount of each transaction. A business so lucrative that the two giants weigh in on them 800 billion dollars on the stock market …
Every cash transaction is so much money that you don’t give those leeches. Certainly, the merchants pay this tax but it is obviously carried over to the price you pay…
In the same vein, if all payments are digitized, we will inevitably see the state come to increase its tax collection. Indeed, with an overall tax rate of 50% in France, the state has demonstrated that it will levy as much tax as it is humanly tolerable to accept. Interest has to be paid to private bankers.
And let’s not forget this famous negative rate. It is already in force in Switzerland where the postal bank decided in 2017 to withdraw 1% per year on amounts exceeding one million francs. Today a million francs, tomorrow 100 francs … By then the rich will have stashed their money in tax havens. But the rest of us won’t even have the option of keeping a few bills under the mattress.
If we do not fight, the banks will force us to consume and borrow on pain of directly draining our savings with negative rates. Why ? But because their ponzi scheme (Debt) is like a bicycle. It collapses if you stop pedaling (borrowing).
“When a people no longer defends its freedoms and rights, it becomes ripe for slavery. “
Jean-Jacques Rousseau (1712-1778)
This is what we wanted to clarify today: Bitcoin has nothing to do with the end of cash. Central Banks are surfing on this amalgamation to try to disguise liquidation of liquid as state cryptocurrency (CBDC) but no one is fooled …
Child of Satoshi, the alchemist who turned a cryptographic algorithm into gold.
I’m talking about monetary geopolitics, not shitcoins.