Why bitcoin and the money revolution changes everything

Have you heard about bitcoin and the money revolution, but wondered what it is, and why things are changing so fast? Are you caught in the grip of poverty or debt, and wish there was a way out? Do you think the world is stuck in a rut of slavery, and don’t see a clear path to freedom? In this article I will address these questions and show you why the world is in its current dilemma, and what the bitcoin revolution is doing to change everything.

In the natural world, everything that lives seeks to preserve its own existence. This is logical. There would be no purpose to life if everything was suicidal. That just wouldn’t make sense. Everything that is living has the innate desire to continue to do so.

But in order to survive in the wild, everything needs to keep finding ways to grow, otherwise they will eventually suffer attacks from outside sources and perish. Plants grow bigger and tougher to withstand the elements of climate, disease and pests, and then produce seeds and shoots in order to secure the longevity of their species.

As humans, we protect ourselves from the forces of nature by finding ways to improve our health and fitness, enrich and expand our minds, and have children to ensure the continuity of our families and our species as a whole.

So how does money fit into all this? Well, money is simply a mechanism of exchange that allows people to procure things that they believe will enhance and improve their lives. We as people use money to buy the best kinds of food we can afford, decent housing, clothing, transportation and education, among a great number of other useful things, all in the pursuit of a larger and longer, richer, more fulfilling life for ourselves, and our families and friends.

Without enough money to expand and enhance our lives, life is small, short and dark. A constant battle against economic scarcity that depletes our resources and leads us to an eventual and pitiful demise. This is the harsh reality of nature that plants and animals in the wild seem to understand so much better than “civilised” humans. Expand, adapt and improve, or perish.

Within the scope of the human world, the same principles apply. We must each expand our own situation in order to secure a better future, or we will be swallowed up by economic pressures and harsh reality. We see evidence of this in countries where, despite a richness of natural resources, large sections of the population have been denied access to good food, housing and education, in order to fulfill the greedy desires of the rich and controlling classes. African warlords pillage and plunder wealth from countless villages, while the poor and weak remain in a state of deprivation and eternal poverty.

In western countries, the wealthy elite grow fat while holding the masses in the iron grip of debt and economic slavery. The few dominate the many, forcing much of humanity to work their entire lives just to repay mortgages on their homes, and pay large taxes that are primarily used to maintain the status quo, i.e. the dominance over the many by the few through large police agencies and disproportionately active military forces.

The larger and richer a nation is, the more of its resources are spent on defending its control structures. The United States, for example, spends far more money per capita than any other nation on “national security”, government, and it’s so called “Department of Defence” aka “Department of Empirical Expansion”.

It is irrational, cruel and barbaric to spend such a high proportion of resources and wealth in order to gain and maintain such a disproportionate concentration of power and control, while millions of people go hungry and suffer miserable lives, deprived of decent healthcare, physical nourishment, and “real” education.

And it has to stop.

Technology is the enemy of the controlling elite. Technology is nothing more than the never ending accumulation of intelligent thought gradually building on itself to find better ways of doing things. Medicine, transportation, food production – all these things are examples of technology being used to improve the situation for humanity. Technology holds the keys to the lock on the door that opens up a better future for all humankind.

Now, technology itself is neither good nor bad, it is merely the advancement of knowledge, and it can be used for good purposes or bad, depending on the motivation of the persons holding it. A bitter, twisted person can use technology for evil purposes, and that is what we see happening all too often in governmental and military organisations. They build and use technological weapons designed to brutalize, maim and kill ordinary and defenseless civilians, with utter disregard for the amount of pain and suffering they cause along the way.

How much better and more logical is it then, to use technology to actually improve the world? Recent developments in clean energy sources such as solar, wind and tidal electricity generation, as well as new types of storage, i.e lithium battery and capacitor technology, all but do away with the need for risky nuclear plants, and are gradually reducing our reliance on fossil fuels.

The technology exists to grow far more food than the people of earth could possibly ever need. Imagine how much benefit to humanity could be achieved if populations in desert areas were given access to solar powered water desalination and irrigation technology. Starvation and deprivation have already been defeated – if only the knowledge was shared and applied where it is needed.

Our technological toolbox is ready – we just need to deliver it where it is required and allow the local populations to start using the tools and start to live the full, rich and healthy lives that every human deserves.

And this is where Bitcoin comes in.

Bitcoin allows people in the remotest of nations to start benefiting from modern technology by giving them the freedom to trade with whomever they choose, anywhere around the world, far out of the reach of the wealthy elite in their European palaces.

African warlords lose the motivation to enslave and steal from their local communities once they finally have a legitimate way to build wealth without resorting to violent and ruthless behaviour.

Hackers and scammers, so desperate and hungry for a better way of life, will gladly trade their dodgy and annoying practices for something a bit more legitimate and less guilt-laden if it will sustain and improve their lives to do so.

Life is abundant, and there is plenty for all once you loose the stranglehold of the dominating financial elite, as bitcoin is doing right now.

Bitcoin is financial freedom in a smartphone app. It is the way – the only way, that people around the world have to expand and improve their lives and the lives of those around them, while also improving the lives of those around the world that they choose to trade with.

Trade is a win-win scenario, and it leads to a better way of life for everyone. And Bitcoin is the ultimate free-trade facilitator. It knows no borders, recognizes no artificial authority, and demands no taxes or bribes. Bitcoin is pure trade, and a fair share for all.

The world has woken up to its own depressing situation. It has become a financial fortress of economic slavery, where those in power use the taxes paid by the poor to keep those same poor people under their domination and control, and it has got to stop. In this article we have discussed the underlying principles of nature – the need to constantly improve and expand life, and have explained how money fits into this system. We have talked about the benefits of technology, and how it can be used to improve the lives of the whole human race, and we have discussed the part that Bitcoin is playing in bringing down the established economic power structures, and is rapidly setting humanity free from slavery and starvation.

Our world is changing quickly, lead by those among us who understand the great benefits that technology can bring to every single person on earth. Join us – follow us, and with Bitcoin, we will together open the doors to a better and more fulfilling life and a brighter future for us all.

New Zealand opens its arms to Bitcoin

Bitcoin has hit the mainstream in New Zealand today, with new of the first piece of real estate being sold for the digital currency that is taking the world by storm. In this article we discuss the new financial technology that is set to revolutionise the banking paradigm, and highlight a few ways New Zealanders can get involved with crypto currencies such as Bitcoin in these early times.

First, let’s take a look at what Bitcoin is, and the technology that makes it work. Bitcoin is a virtual currency that is immune to inflation, because there can only ever be 21 million of them in existence due to the mathematical system that creates them. There are currently around 16 million bitcoin in existence, and new coins are slowly generated through a process known as “mining”. All 21 million coins will have been mined by the year 2140.

The term “bitcoin mining” is a bit of a misnomer. Theres is no actual mining involved. Mining refers to the processing of financial transactions on the bitcoin network. Imagine how a transaction through a normal bank has to be processed. If someone makes a purchase using EFTPOS, funds are withdrawn from their bank acount and are deposited into the account belonging to the person they are buying from. The bank processes the transaction and charges a small fee for doing so.

The same thing happens with bitcoin: the buyer sends the agreed amount of bitcoin to the seller using an app on their smartphone or pc; the bitcoin network processes the transaction, and receives a small fee for doing so. Infact, almost anybody with a working computer can connect it to the bitcoin network using free software, and start processing transactions on it and earning part of those transaction fees themselves. This is called “mining”, and the people and the computers they use for mining are called “miners”. Bitcoin mining is highly profitable, even for small-time miners running a few pcs or dedicated miners at home.

Bitcoin and other crypto coin miners come in a range of sizes.
Bitcoin and other crypto coin miners come in a range of sizes. The larger machines generally cost a lot more than the smaller models, use more power, and earn more transaction fees for the owners. The term “bitcoin mining” simply refers to the processing of bitcoin transactions – no picks and shovels required.

Bitcoin and other “crypto currencies” (crypto is short for “encrypted”) are stored in people’s phones and computers using small apps called “wallets”. Well, sort of. In reality, only proof of ownership is stored in the wallets. The coins themselves are recorded as entries in a a ledger which is shared and duplicated right across the entire bitcoin mining network, making it very difficult for hackers or fraudsters to get up to any dodgy business. Details of every transaction are permanently recorded, and are viewable by anyone with a web browser using websites such as BlockExplorer. Details of the transaction are recorded, but the names and personal details of the sender and receiver are not, so there is a combination of security and privacy, sometimes referred to as pseudonymity.

As transactions are created using bitcoin and are submitted to the bitcoin network for processing, they are grouped together in batches of transactions known as blocks. Think of a block as being a page bearing a list of perhaps a dozen transactions. Once a block is formed, it is published on the network and waits to be validated or “confirmed” by a number of “miners”. It is encrypted to keep the details secure, is allocated a block number, and is added to the exiting list of previous blocks in a fashion that creates a permanent, unbreakable chain. This is what’s known as the blockchain, and is the underlying technology that is changing the world as we know it and will most likely end the stranglehold that traditional banks have over the world’s financial system.

Bitcoin and blockchain technology are creating a decentralized money system that allows anyone in the world to easily and quickly make payments to anyone else, anywhere else in the world, without the need for an intermediary such as a bank. This is revolutionizing business and will transform the way the world conducts trade, thereby transferring the ability to generate wealth from the extremely rich banking elite to the common people of planet Earth.

The bankers are already kicking up a stink and are doing all they can to make sure bitcoin doesn’t succeed: they don’t want freedom for the masses, but the cat is already out of the bag. Bitcoin is spreading like wildfire around the world, and is now becoming welcomed into the mainstream here in New Zealand. A plethora of bars and cafes around Auckland and Christchurch already accept bitcoin for some products, and the movement is gaining traction.

There are a few downsides to bitcoin as it currently stands. The value of each Bitcoin fluctuates tremendously as traders look to profit from differences in supply and demand, just as they have done in traditional forex and stock markets in the past. This causes a bit of annoyance to bitcoin users but is generally accepted as part of life. Every decent wallet app is constantly updated with the current value anyway, so it is not really much different than having New Zealand dollars and watching the price rise against US dollars or Aussie dollars. Welcome to the age of global trading (which is different than globalization but that’s food for another article).

For people new to the bitcoin world, you need to know that there are many other crypto currencies in existence, not just bitcoin. The other big coins include names such as “Ethereum” (great name and a great currency), Litecoin (designed to act as “silver” in relation to Bitcoin’s status as digital “gold”), DASH (short for “Digital Cash”), and Monero (a crypto currency with an even greater level of privacy).

Each crypto is designed for use in slightly different industries or scenarios. For example, Ethereum (ETH) is designed for use in generating “smart contracts”. One example of a smart contract could be an automatically generated and administered insurance policy, than remains in place so long as the proper conditions such as premium payments are made, and which pays out automatically when a claim is made.

You can monitor the value of each crypto currency on websites like WorldCoinIndex and CoinMarketCap (Cap is short for capitalization). Values are usually represented in comparison to US Dollars, so keep your calculator app handy or find a converter on google.

How to buy Bitcoin in New Zealand.

So how does one get their hands on some of this digital gold, you ask? Well, it is pretty easy, really. There are websites such as “Localbitcoins.com” that let you arrange meetings with other kiwis to do deals for cryptos, but not everyone is comfortable meeting strangers to buy and sell money, and understandably so. A better option is to use a reputable online coin broker or exchange such as Coinmama.com, and just buy bitcoins using your credit card. Just sign up for an account, make your purchase, and wait for the bitcoin to be deposited into your coin wallet app.

If you need a good wallet for pc try Jaxx.io or Exodus wallet. For smartphones, do a search for your particular phone’s operating system as the apps do vary. Just do a bit of research before you jump into it. Make sure the wallet you choose gives you access to your “private keys”. If it does not, keep on looking. Whoever controls your keys, controls your coins. It is not recommended to treat your accounts on coin exchanges as wallets, for the very same reason.

A bitcoin wallet is a simple app on your smartphone or pc
A bitcoin wallet is a simple app on your smartphone or pc

So there is a bit of an introduction to Bitcoin, a background and overview of the mining process and the underlying blockchain technology. You should definitely look into bitcoin. Do some research and get yourself a wallet. Keep in mind that it is very easy to change wallets later, so don’t be scared, just keep a copy of those private keys.

Bitcoin and the other cryptos are the future of finances, and they are here to stay. By jumping onboard now you are still at the leading edge of things, and will be well placed to use the technology to your advantage as we progress. It is an exciting time, so embrace the change and take control over your own finances. Be your own bank!!

 

The ultimate simple explanation of what Bitcoin is for brand new beginners

Mainstream adoption of Bitcoin and crypto currencies is taking place, yet many folks are unsure as to the true nature of these digital assets and the revolutionary blockchain technology that is behind them. In this article I will give you a simple explanation of what Bitcoin is, without going into the nuts and bolts of how everything works. You can read up on the techy stuff later but for now, this post will give you the basics.

Bitcoin is electronic money. It is not printed on paper notes like your old dollar bills, and there are no physical coins like the 50 cents piece rattling around in your car’s ashtray. No paper, no shiny metal coins – just numbers in an account. Think of bitcoins as being money in an online bank account.

Now, as with all online bank accounts, someone has to take care of looking after your Bitcoin balance in the same way that your bank uses its computers to look after your regular bank accounts. When you pay your bills using traditional online banking or EFTPOS, it is your bank that processes the transactions, and they usually charge you fees for doing it. Bitcoin works in the same way except the transactions are processed by a large network of computers spread all over the world. You still get charged a fee for doing a transaction, but that fee goes to the owner of the computer that actually processes your bitcoin transaction.

As with any normal banking transaction, there is a payer and a receiver. If you are paying your power bill online, you are the payer and the power company is the receiver, and you both have your own bank account numbers. In bitcoin transactions, it is the same. You have your own bitcoin account number, but it is called an “address”, and the receiver also has an “address”. When you pay a bill with bitcoins, the bitcoins are transferred from your address to the receiver’s address.

When you send bitcoins to someone in this way, which you can do using a simple app on your smartphone, a small amount of the bitcoins you send are sent to the owner of the computer that processes the transaction. That is the transaction fee, and it helps to pay the costs of their mining equipment and electricity usage plus a small profit. The person who owns that particular computer is called a bitcoin miner. And the processing of the transaction is called bitcoin mining.

Some people own a lot of computers that are used for this “bitcoin mining”, and as a result, they can earn a lot of money from processing lots and lots of transactions. Infact, there is so much money to be made from bitcoin mining that there are even companies who rent out computers so other people can run the bitcoin mining program on them.

All of these bitcoin mining computers are spread out around the world. A lot of people even do the “bitcoin mining” on their personal pc’s and laptops at home, and earn anywhere from a few cents to a few dollars per day depending on the speed of their computer. So Bitcoin gives normal people the opportunity to earn a small income by processing transactions (aka bitcoin mining) on their own pc.

Four Bitcoin mining machines
Bitcoin mining machines come in a variety of types, from tiny USB ASIC miners to big, power hungry professional miners. You might know someone who uses their personal pc or laptop for bitcoin mining.

Bitcoin runs on a decentralized network, as opposed to the centralized system used by traditional banks. Being decentralized means that the system is less prone to hackers and fraudsters, and there is very little chance of the network going offline.

The next thing I will mention is that Bitcoin is “open source”, meaning that anyone can see the actual computer code that runs the network. All transactions are permanently stored on the network, and can be easily viewed by anyone using a web browser. Note that the transactions are visible but none of your personal information is visible because you didn’t have to provide it when you first opened your bitcoin account address.

To get a bitcoin address you first need a bitcoin wallet, which is a small app on your pc or smartphone. The wallet app generates an address and that is where people can send you bitcoins. Every crypto currency needs a different address, but some wallets can be used to store a number of different crypto currencies, in the same way you can hold different paper currencies in your physical purse or wallet.

A bitcoin wallet is a simple app that runs on your smartphone or PC.
Easily check your bitcoin balance and send and receive payments and donations using a wallet app that runs on your smartphone or PC. Some wallets support a wide range of crypto currencies such as Litecoin and Ethereum, in addition to Bitcoin.

Ok, that is enough information for now. There is a lot to more to learn about Bitcoin: we haven’t even talked about the “blockchain” yet, but there is plenty of time for that later, or the huge community that supports the bitcoin network. You can find more information about all those things on this website once you have digested this introductory stuff.

So as a quick summary, here are the main points we have covered in this article:

  1. that Bitcoin is electronic money, otherwise known as a digital asset,
  2. that Bitcoin transactions are processed on a decentralized network,
  3. the processing of bitcoin transactions is referred to as “bitcoin mining”,
  4. the people who own the computers that process transactions are called “bitcoin miners”, and they get paid a small fee for doing it,
  5. Bitcoin and other crypto currencies are stored in small apps called wallets, and some wallets can store a number of different crypto currencies,
  6. your Bitcoin wallet generates an “address” that people can send bitcoins to when they need to pay you, or vice versa.

Hopefully this article has been helpful to you as you learn about Bitcoin. Please feel free to share it with anyone else you know who also wants to learn about this exciting new technology and currency. Bitcoin is the way of the future and you are doing well to educate yourself in these early stages. Go well – go crypto!

Where does the real value of Bitcoin come from?

I just read one of the most important questions about Bitcoin, a question that I haven’t read many good answers for. Fortunately, I have cracked the cryptos as you already know since my nickname is Crypto Cracker and here is the real answer. You might regard this post as mansplaining if you are a misandrist but that is your problem, not mine. These are the facts.

Much of the value of bitcoin and many crypto coins comes from the properties of the blockchain technology. Visibility of each transaction; “relative” privacy; resistance to fraud; protection against double-spending of coins etc – all these characteristics are very good, and so are deemed to be valuable features of the blockchain and bitcoin network itself. We know that there can only be a maximum of 21 million bitcoins once they have all been mined. One bitcoin, therefore, is basically 1/21,000,000th share of the overall bitcoin network. The dollar value is actually irrelevant except that dollars is how we measure things as the moment. As more people become interested and involved with bitcoin and cryptos, they increase the dollar value because they are wlling to pay more for their share of the bitcoin blockchain/network/infrastructure – call it what you want. If the bitcoin blockchain did not have any good features that made it resistant to fraud or any of those good things I mentioned earlier – if those good features did not exist then nobody would care about owning it, i.e. there would be no demand for it, and the dollar value would be basically nothing. It is the great features built into the blockchain technology that creates the value – and the public demand that creates the price.