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Cryptocurrency: FedCoin - #1 Shitcoin
by grarpamp 09 Mar '21

09 Mar '21

" Fedcoin: A Central Bank Digital Currency The Fedcoin has bipartisan support. Jay Powell, appointed as Federal Reserve Chairman by President Trump, said in October that the Federal Reserve is conducting research into issuing a digital currency, on its own and also in partnership with other central banks and the Bank for International Settlements. Janet Yellen, appointed as Fed Chair by President Obama, said last week, “It makes sense for central banks to be looking at issuing sovereign digital currencies.” They give different stated reasons. Powell is more conservative, and his focus is on addressing the potential competitive threat of bitcoin and digital currencies from countries such as China. However, if he really wanted to make the dollar more competitive against the yuan, then he would just abuse the Fed’s credit less. Yellen nods to a progressive idea, saying that a Fedcoin, “could help address hurdles to financial inclusion in the U.S. among low-income households.” However, if she really wanted the “unbankables” to be able to open accounts, then she would just repeal anti money laundering and other regulations that penalize a bank for crimes committed by its clients. Both Powell’s and Yellen’s statements are disingenuous. A Fedcoin is coming, because it’s necessary. Allow us to explain the two real reasons. The first is sinister. The second is more pernicious. Why Fedcoin? Two Real Reasons The first reason is the pathological fall of interest rates over the last four decades. Interest in the US dollar has not gone negative yet, though it has in the Swiss franc, the euro, the pound, and the yen. Interest will continue to fall. When the rate goes negative enough, the banks will not be able to hold the line on paying zero interest in deposit accounts. They will be forced to pass through their pain to depositors. This will provide the first incentive to withdraw cash from the banks—thus pulling out capital—since the 1930’s. The paper dollar bill has zero yield. People will prefer zero to negative yield. Free is better than paying to hold your money. The central banks have three ways to try to fight this. One, they could try to impose losses on dollar bills. They could create an algorithm that deducts from the face value, based on serial number. If they roll this out to point-of-sale devices, then every merchant will know the legal tender value of your cash. That “twenty” could actually be worth $19.93. But this seems impractical and confusing. Two, they can demonetize cash. People are given until a certain date to turn in their cash for a credit to their bank accounts. After that, the paper will have no legal tender value. But, as Yellen noted, many people are kept out of the banking system. Or, three, they could issue a Fedcoin and force everyone to trade their paper cash for Fedcoins. Fedcoin would be nothing like bitcoin. Fedcoin would be programmed to erode at a rate to match the Fed’s negative interest rates. Thus, it would not provide a haven to anyone seeking to hold cash to avoid the erosion of bank balances. They will have you totally trapped. This is an extension of the same idea behind banning gold in 1933. The people were disenfranchised, unable to opt out of the government’s debt. The most conservative saver was forced to hold government bonds, rather than gold. Indeed, after that, the definition of risk-free asset is the government bond. After 1975, you can hold gold. But now, it’s not a dollar balance. It has dollar price volatility. Hence, it’s unsuitable for many conservative savers (and financial institutions). If you have a billion dollars of cash, and a liability to pay a billion dollars in two months, then you cannot take the risk on gold. As we write this, the price of gold has dropped $244 dollars since the start of 2021, or about 13% in about two months. An individual may be able to escape the system by buying gold (or bitcoin), however the dollars are trapped in the system. The seller of the gold (or bitcoin) is the new owner of those dollars. And faces the same awful choice of the tiger or the tiger. The Fedcoin will be designed to further tighten the noose. Even cash will become entirely electronic, and subject to slow confiscation. Not by inflation. But by negative interest rates that reduce the account balance. " ... and by inflation, tax theft, bail-ins, bail-outs, war bonds, govt paychecks, debt, etc.

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CNBC: SpaceX wants to connect its Starlink satellite internet network to moving vehicles
by jim bell 09 Mar '21

09 Mar '21

CNBC: SpaceX wants to connect its Starlink satellite internet network to moving vehicles. https://www.cnbc.com/2021/03/08/spacex-wants-to-connect-starlink-satellite-…

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vtdigger.org: Lawmakers skeptical of Starlink solution for broadband problems
by jim bell 09 Mar '21

09 Mar '21

vtdigger.org: Lawmakers skeptical of Starlink solution for broadband problems. https://vtdigger.org/2021/03/07/lawmakers-skeptical-of-starlink-solution-fo…

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Satoshi speculum
by professor rat 08 Mar '21

08 Mar '21

“Whoever Satoshi was, they were very much ‘standing on the shoulders of giants’ – Bitcoin was the culmination of decades of accumulated research and discourse within the Cypherpunk community… https://dailyhodl.com/2021/03/07/new-theory-claims-cryptographer-len-sassam…

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Engadget: Intel is working with DARPA on advanced cloud encryption
by jim bell 08 Mar '21

08 Mar '21

Engadget: Intel is working with DARPA on advanced cloud encryption. https://www.engadget.com/intel-darpa-fully-homomorphic-encryption-security-…

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COINS that might interest cypherpunks
by professor rat 08 Mar '21

08 Mar '21

https://dailyhodl.com/2021/03/08/popular-crypto-trader-explores-three-obscu… “PirateChain is a currency, a unit of exchange in the same way as Bitcoin is or Monero (XMR) is. However, it is the most secure and the most private of all the privacy coins. More private than Monero… [There’s] no option for transparency. Every single peer-to-peer transaction is invisible… Once [a transaction] goes to your wallet, nobody knows how much is in your wallet, whether you sent any out, to where to who you send me ARRR coins nobody else will know. There’s no data on the blockchain to analyze, nothing.” Crypto Rich notes that the head developer at Monero has given the nod to PirateChain, which currently holds a $61 million market cap.

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Influencing oligarchy's crazy community bag
by grarpamp 08 Mar '21

08 Mar '21

> So how do we influence the oligarchy while they surveil us? Historically, revolutionaries would simply drag them out into the street and murder them when things became unfree, untenable, etc. Today the top hier are rapidly installing... distancing, global sensor and self protection systems... capable of detecting discrete and aggregate preliminary moves against them, even mind / market moves, and are beginning to terminate such moves with precision accuracy. You have precious little time left.

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Revolutions famously eat their own
by professor rat 08 Mar '21

08 Mar '21

OKCoin Bans Bitcoin Cash, BSV Citing ‘Misinformation War’ https://decrypt.co/58270/okcoin-bitcoin-cash-sv-craig-wright-misinformation… This is similar to the work I'm doing here banning Nazi's like Batshit Crazy and Zendy Harkness. Good riddance to bad rubbish.

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Revolutions famously eat their own
by professor rat 08 Mar '21

08 Mar '21

"... OKCoin are being censors politics etc, move to a better exchange..." Collectively people get censored all the time - as anti-social criminals...like ' cypherpunk professors ' , Julian Assmange and Pastor Craig. Also its ' Assassination Politics ", not " Assassination Grarpamps ". Anarchists are under zero obligation to recognize the free-speech rights of any known fascists...such as those two Nazi scumbags Harkness and Stasi. When they get physically cancelled ( Deadpools are out one each. 200$ each ) we'll know we're getting somewhere. As Mong said more than once... " When cypherpunks are called terrorists we will have done our job " Chickenshit bitchs leave.

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alien gravity drive
by coderman 07 Mar '21

07 Mar '21

-----BEGIN PGP SIGNED MESSAGE----- Hash: SHA512 it seems we're getting closer to figuring out the alien propulsion technology described by Bob Lazar, others. [ see also, https://www.youtube.com/watch?v=WpN5PjOxHbo ] so found: """ A pair of researchers at Applied Physics has created what they describe as the first general model for a warp drive, a model for a space craft that could travel faster than the speed of light, without actually breaking the laws of physics... Bobrick and Martire start with the idea of an Alcubierre warp drive, a concept developed by Miguel Alcubierre in 1994—he envisioned it as spacecraft that could contract space time in front of the vehicle while expanding it behind the craft. But such a craft would require a massive amount of negative energy, which would not be feasible for a real spacecraft. Bobrick and Martire suggest instead that a massive gravitational force could be used to bend space time. """ - - https://phys.org/news/2021-03-potential-real-physical-warp.html later this year a government report will be prepared... what will be in it? :) best regards, -----BEGIN PGP SIGNATURE----- iNUEAREKAH0WIQRBwSuMMH1+IZiqV4FlqEfnwrk4DAUCYELVRl8UgAAAAAAuAChp c3N1ZXItZnByQG5vdGF0aW9ucy5vcGVucGdwLmZpZnRoaG9yc2VtYW4ubmV0NDFD MTJCOEMzMDdEN0UyMTk4QUE1NzgxNjVBODQ3RTdDMkI5MzgwQwAKCRBlqEfnwrk4 DAI6AQDPQq1j5Robj96pdOUjUPQPkXJ7P9k2d7drV2QM/eNHVgEArPjsLD/CqCRu Zlat2rxtrtsp2rnIb5bkNaemNO0yebc= =6aOe -----END PGP SIGNATURE-----

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