Bitcoin was created by DARPA
There is no way to stop what is going to happen to bitcoin. It's an issue of sociology. It's an issue of human greed. It's an issue as to WHO created bitcoin and WHY.
Who is the single largest holder of BTC right now? "Satoshi". Who is he? I will say it again. NSA/DARPA created bitcoin under the guidance of the IMF. The IMF has been openly calling for a digital, one-world, deflationary currency for 2 decades. OPENLY. It has been discussed and promoted OPENLY at G8 and G20 summits.
From the early 90s-96 the NSA was OPENLY investigating cryptographic money networks.
One of their researchers and investigators is a man named Tatsuaki Okamoto. When they actively started writing the code they chose the pseudonym "Satoshi Nakamura" to ultimately promote the idea that Tatsuaki Okamoto to any and all who investigated the source of bitcoin long enough. But Tatsuaki Okamoto is just a cog. He's not some rogue savoir out to topple centralized banks. Not at all. He is a crypto scientist who was paid by government and intelligence agencies to do research.
Bitcoin is an NSA/DARPA lab set into the wild. Scientific technology grants issued by government and intelligence agencies are how these labs are funded and promoted. The regulation and control of bitcoin has been actively developed alongside the development of the network. In fact, the controls, policy and regulation are WAY WAY more mature than the bitcoin protocol itself. That's why we see things like Greenlist written into law without a mention of bitcoin until recently.
This is not tinfoil hattish. This is just reality. No one forced ANYONE to believe the Satoshi fairytale.. The libertarian Satoshi myth has been promoted in stealth to specifically promote ADOPTION and DEVELOPMENT. It's no different than the internet and WWW itself. EXACTLY the same. That is why you see many www early adopters saying bitcoin "feels" the same as the early internet. I am one of those people.
In 94-96 the public internet was ALL about freedom of information. FREE COMMUNICATION. It was ALL about liberty and freedom. I wish i could transport some of you back in time so you could see for yourselves. The promise of free phonecalls with the freeworlddialup, free media with IUMA and the MBONE. All this freedom and liberty had people pouring their heart and soul into developing it. Now look at it. Facebook, google.. it is a GIANT SURVEILLANCE grid. And if you look for and read DARPA/NSA docs from the 80s and early 90s that was what it was always meant to be. I am not discounting all the socially great things that happen online.. But from the perspective of DARPA/NSA and control freaks.. it was created for the express purpose of control. A military purpose. A strategic purpose.
What is bitcoin? Bitcoin IS the one world digital currency. We all have a deterministic UUID that has been generated from our biometric data. This UUID will be related to all your datastores. This UUID is your mark. This UUID is what is used to buy and sell online and in the real world. This UUID is the primary key in your Greenlist identity.
Coinbase, blockchain.info and it would appear Coinsetter are inline to be the first to roll out the incoming policy and regulation. This policy and regulation is WORLD WIDE. It is CORPORATE. It is not about governments. Governments ADOPT corporate organized policies. If you think this is new than you need to investigate ACH and NACHA.https://www.nacha.org/aboutushttp://www.slideshare.net/Earthport/nacha-payments-2013-complementa...
Bitcoin is THEIR network. And for the minority early adopters that is going to be a hard pill to swallow.. But for those in the know.. Like Gavin, it's PAYDAY. Realization and monetization of their massive bitcoin holdings is being guaranteed by regulators. That is why they are all literally RUSHING to regulate.
Legitimization of bitcoin is all about hosted wallets. The centralization of bitcoin. Hosted wallet providers approve/dissaprove transactions before they are actually issued on the network. Greenlist enabled wallets will be the fastest. (offline transactions). Greenlist enabled wallets will be hooked directly to your bank account, ease of buying and selling. Greenlist enabled exchanges will have the largest market with the best prices. Greenlist enabled wallets will completely eliminate risk of stolen coins. No more security worries AT ALL. And this is what the masses have come to expect. And this is why it's going to happen. And Greenlisted wallets will be accepted everywhere. And in the physical world you will identify yourself and your wallet with your biometrics.
TL;DR bitcoin is a global digital currency, regulation was created in tandem with development and adoption, bitcoin is not and never was meant to be a liberty promoting value exchange. There is no "satoshi". The central banks are already the largest holders of bitcoin. Bitcoin IS going to the moon because of this.
NOTE: This article is originally posted at these websites. (Lots of interesting comments about “Bitcoin” to read also at the forums on these websites.
NOTE: Check out the list of digital (crypto-currencies) otherwise referred to as “virtual currencies at this website: http://coinmarketcap.com
These “virtual currencies: do not exist in the physical world as coins or paper notes. They exist exclusively in cyberspace.
Another interesting article: “Why Virtual Currency Is Here To Stay.”
NOTE: Bitcoin and the other “virtual currencies” that are semi-anonymous, and decentralized may one day be identified as the pioneers of “internet-finance.” We'll see what happens in 2014 and beyond!
At this time, I am choosing not to negotiate transactions with Bitcoin or any other virtual currency. Perhaps at some future date, when I am convinced that the “virtual currencies” are indeed “free of usury” or “usuryfree” and when I fully understand how to “earn” Bitcoin or any other “virtual currency,” I will embrace and promote the concept.
In the meantime, I prefer to create and spend my own usuryfree time currency called Kennedy Hourswithin my own loyal networks of participating time-traders.
My one hour of basic, unskilled labour is valued at $13.00 (Canadian funds) – that's just above the minimum wage here in Canada. Other people choose to value their one hour of unskilled labour at $12.00 (Canadian Funds) because it is easier to divide into half hours, quarter hours etc.
When I am engaged for professional consulting services, at a rate of $65,00 per hour, I simply request 5 hours for the one hour of professional service – according to the free market. ($13.00 x 5 = $65.00)
My perception is that the value of any currency is based on “trust.” Why should I “trust” Bitcoin or any other “virtual currency?”
I would rather trust the time-traders within my own loyal networks and they trust me - because we know each other and we have a track record of honour and integrity when we negotiate trades using a combination of federal cash and our own usuryfree time currency.
We search out and find or produce quality products in our local community and we offer these products and/or services that local time-traders need for themselves, their families and their SDI (Self Directed Income) enterprises.
We cover our wholesale costs with federal cash and we commonly accept the retail mark-up portion of the sale in the usuryfree time currency. This model works during these transitory times any anyone and everyone in invited to participate. Eventually, when our databases grow, we will most likely be able to negotiate our transactions with 100% of usuryfree time currency.
Right now, my preference at this time is to “trust” the “usuryfree time currency” movement as it continually gains popularity from the proven models as offered by “Ithaca Hours” in Ithaca, New York, USA and “Mountain Hours” in Summit County, Colorado, USA.