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Cryptocurrency: Good investment or One World currency(Part 2 of 2)

 

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Bitcoin, which is the de-facto digital currency is being talked about as being a one world currency. Talks of Illuminati have been brought up ever since people think that a group of people all over the world want to create a one world currency. Well the good part is, Bitcoin isn’t going to be the only cryptocurrency so Bitcoin can’t be the only one. Bitcoin is actually better off as a store of value. A one world currency is good but can also have its disadvantages. Here are our reasons why Bitcoin will not be the one world currency everyone is scared of.

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  1. No Regulations: Bitcoins do not have any backing authority for its operation nor is it backed by any country. It does not have any regulations. People already don’t trust it by nature but no country would be for a currency that can’t be backed by anything. They also won’t allow a currency without a central bank.
  2. Illegal Purchase: Lots of illegal purchases can be possible with Bitcoin transaction. Drugs, chemical, radioactive materials cannot be easy to purchase in normal transaction methods. Many illegal purchases are done with cash but it’s easier to transfer $50 million to someone through Bitcoin than it is with cash.
  3. Not the Only Currency Crypto: Bitcoin isn’t the only digital currency being used as a currency. With over 1200 altcoins, many of them have different use-cases like privacy coins, supply chain operations, enterprise solutions and more. Litecoin and Vertcoin will join Bitcoin as an everyday currency.
  4. No Trust: Since it doesn’t have headquarters, it doesn’t have any customer care. It is difficult for a normal person to grasp the idea of Bitcoins. Because of this problem, people won’t trust to join Bitcoin. The fact that you can’t touch it, smell it or hold it also makes people not trust it.
  5. Lack of Awareness: Awareness about Bitcoin is much lower than most people think. Less than 1 in 10,000 people own cryptocurrencies. This also aids the trust issue.
  6. High Fluctuations: Day by day, the value of Bitcoin is increasing. As good as this sounds, there are many more days when the price of Bitcoin drops and this creates a volatile market. This is one of the reasons that big corporations like Amazon and Uber are not adopting Bitcoin as a form of currency to accept.Bit5...A new Department of Justice (DOJ) directive from Attorney General Jeff Sessions makes it more important than ever to own cryptocurrency and to do so outside of digital exchanges which function like traditional banks; translation, they will rush to obey law enforcement agencies. The new directive expands the power of civil asset forfeiture for federal agents, allowing them to sidestep laws in the 20 states that currently restrict the practice.Civil asset forfeiture allows federal or local law enforcement to confiscate property and wealth from anyone suspected of committing a crime or of being connected to one. The targeted person doesn’t need to be charged or arrested. No crime needs to be proven.Even in the presence of a crime, the person’s property may have been used without their knowledge. For example, Russ Caswell fought for years to retain ownership of his motel in Massachusetts which was worth $2 million. Federal and local law enforcement claimed the motel was theirs because drug deals had happened without Caswell’s knowledge. He ultimately prevailed but it required backing from the powerful Institute for Justice and an intense media campaign. Success in contesting the seizures is rare.Because the process is a civil and not a criminal one, there are no due process protections and law enforcement has a free hand. The evidentiary standard reduces to a police officer’s alleged suspicions; for example, cash is always suspected drug money.

    Conclusion: Own Cryptocurrency like Bitcoin

    Sessions’ letter rings the dinner bell for federal, state and local thieves. You are the dinner.

    Civil asset forfeiture is here to stay. As economic times get tougher, the practice will only accelerate. It is the main method by which law enforcement self-financewithout needing the approval of taxpayers or officials on budgets. Many police departments could not sustain themselves without the thievery of civil asset forfeiture.

    As a huge fan of cash, I advise you not to carry much more than you immediately need. The only portable wealth you can depend upon keeping is cryptocurrency maintained in a private wallet under a key you control. Avoid “policing for profit,” avoid “theft by cop.” It is about to become much more common.

Cryptocurrency: Good investment or One World currency?(Part 1 of 2)

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As I’m pretty sure by now, most of you have heard in some form or fashion the word “cryptocurrency” being tossed around in the media & social media due to the most popular form of cryptocurrency by the name of Bitcoin (BTC) reaching a value level of as high as $7,380.56 per coin.  To some people, the mere fact that this form of currency is so valuable is enough to get most people excited as they sit around pondering the possibilities of transforming this currency into a fiat currency to where they can essentially ball out of control.  To other people, most honestly have no clue what cryptocurrency is, why it’s so valuable, why people are so excited about it, & why people are rushing to get involved in the cryptocurrency market.  Well, I’m about to give you the most elementary explanation that I can think of in order to help you understand what cryptocurrency is, why cryptocurrency WILL dominate the future & more importantly why you SHOULD get involved in this market, especially if you are black.

Everything from money to social media activities are centralized (controlled by some organization).  The stuff you post to Facebook is stored on Facebook servers all across the world that are owned & controlled by Facebook.  Every time you withdraw money from an ATM machine, send money via PayPal, pay for something using a debit/credit card, all of those transactions must go through a bank (centralized) to where the bank controls the actual process of sending/receiving, recording & verifying transactions before the disbursement of funds…for a fee of course.  These transactions themselves are stored on servers owned & controlled by these institutions as well.
These servers are very important for a reason.  These servers process & store the information they collect from you (in addition to data mining this information to be sold to third party companies who then send you a bunch of junk via email or snail mail to convince you to buy).  Another reason these servers are so important is because these servers are also extremely valuable to hackers roaming the internet looking to compromise a server to gain access to the information residing on the server to be later sold on the black market (think identity theft).  The problem with these servers is that in the grand scheme of things, they represent single point of failures that are constantly being attacked & exploited for nefarious purposes.  All of the information that you’ve posted to Facebook ONLY resides on Facebook’s servers spread out across the world.  This information does not reside on any of Google’s servers which means if someone managed to wreck havoc on Facebook’s system causing the site to crash or something catastrophic to where your information was compromised (as in recent issues involving Yahoo!), then you couldn’t turn to Google’s servers in an attempt to retrieve the information you had stored on Facebook’s servers, because they are not connected in that manner to allow for the free flow of data to be exchanged & stored.  I have a decade+ background in IT & I have a master degree in Information Assurance.  My master degree alone is basically a degree that focuses on protecting information floating around being stored on servers.  So the problem is a very real problem that most people are unaware of.

Cryptocurrencies function off of a technology called blockchain.  Blockchain essentially eliminates the single point of failure aspect by removing the storage of data on centralized servers owned by private/public entities.  The data on the blockchain whether it is financial transactions, social media activities etc are stored across a gigantic network of computers called nodes to where the information stored cannot be controlled by one entity or hacked causing severe problems due to single point of failure issues I described above.  The reason the data on the blockchain cannot be hacked is because the data resides on a distributed network is highly encrypted to where a hacker can’t just hack one single point on the blockchain, they would have to hack the entire blockchain essentially.  Also, the data residing in the blocks on the blockchain are constantly updated across the network to wherever you access the data on the network, the data will be the same.

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Here’s an example of what I mean by the data being centralized & decentralized in addition to the data being “mirrored” across the network no matter where you are to access the data.

Back in the day on Microsoft Word a person would type a paper, save the paper, & then email the paper to somebody to make corrections.  The person whom the email was sent to would get the email, open MS Word, make corrections, email you the paper back, then you would make necessary changes to the paper.  This entire process was centralized to where only one party had control of the paper at a time and the other party couldn’t get access to the paper until the owning party relinquished control.

Now, we have Google Docs (basically cloud computing) to where multiple parties at the same time can access, view and/or edit the paper in real time without waiting for one party to relinquish control of the paper (decentralized).

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How this ties into the data floating around on the blockchain is…you’re not inputting your data into just one entity and entrusting that one entity to do the right thing as far as processing and safeguarding your data (for a fee in most instances).  You are now putting your data across a distributed network to where copies of that data will exist in multiple places at once.  So, if I upload some data from my home computer on the blockchain, my data will be added to the blockchain which will then be replicated across the network and not just sitting on one server that I would need to gain access to (think…logging into Facebook, you’re essentially logging into a site that stores your updates on their servers).  In a decentralized scenario, in theory, I would be able to log into my gmail account and still be able to access my data on Facebook.

Now some of you are probably wondering how this data is protected if this data is “free floating” on the blockchain versus the data (supposedly) being protected on some entity’s servers.

Simple, the data is encrypted (it’s encrypted on these entity’s servers too by the way…or at least should be).  But the encryption on the blockchain isn’t CENTRALIZED, meaning you are not relying solely on that one entity to encrypt & protect your data.

So how the encryption works is fairly simple for the most part.  Blockchain works off of an encryption practice called asymmetric encryption.  Asymmetric encryption involves the use of a public & private key to gain access to data.  Any data you put on the blockchain is encrypted to where the data looks like a bunch of meaningless letters, numbers & symbols that would literally take decades (if not longer) to decipher.

A private & public key can be thought of this way…

You maintain a mailbox at a UPS store.  UPS gives you 2 keys:  one to access the UPS store and the other key to access your personal mailbox within the store.  The UPS store key that you possess is the same key that some random person with a mailbox at the UPS store would possess as well, but that random person does not have your private key (or shouldn’t) to access your personal mailbox.

So on the blockchain, what tends to happen is, people constantly give out their public key to pretty much anybody who wants it for the purpose of exchanging data (and/or “money”…cryptocurrency).  But to unlock or gain access to the item in the transaction, a person would need your private key to do so.  So basically what takes place is, Person A wants to send an item to Person B.  Person A sends an item to Person B using Person B’s PUBLIC KEY.  This item is encrypted within Person B’s PUBLIC KEY.  Person B receives the item from Person A.  Person B now uses his PRIVATE KEY to decrypt his PUBLIC KEY to get access to the item Person A sent him.  If anybody were to intercept Person B’s PUBLIC KEY, they would NOT be able to access the data encrypted on that public key without having access to Person B’s PRIVATE KEY.  Person A can’t even get access to the data he sent Person B because Person A used Person B’s PUBLIC KEY to encrypt the data and ONLY Person B’s PRIVATE KEY can decrypt Person B’s PUBLIC KEY.  Got it?  Good.

Now, all of these transactions are continually updated across the blockchain network in a matter of minutes to where each transaction is essentially “etched in stone” to where a new “block” is created in the overall network which is then duplicated everywhere on the network (think of my Google Docs analogy).  This is important because in order to hack the system, every other block that was created prior to the new block would have to be hacked as well which would require computing power that probably doesn’t exist to even make it worth somebody’s time & effort to attempt.  You can’t just hack one block, all the blocks are connected which mean you would have to hack ALL OF THE BLOCKS.  Also, you can’t delete data on the block once the data is recorded.  Now for the sake of this blog article, I’m choosing not get too technical beyond this point to prevent really confusing the hell out of people who have no idea how this works, but just want a basic general understanding of the technology behind it.

What I really want people to understand is why one Bitcoin is currently worth over $7K and why black people need to seriously get caught up on this technology to where you could benefit big from it in the coming years.  Crytocurrency (Bitcoin and other coins) is an intangible asset that rewards people for participating in the creation, maintenance & growth of the blockchain.  These people are called miners.  These people allow for their computers to be used as nodes for creating the actual blockchain which allows for you to engage in peer-to-peer transactions which also allows for you to remove the middleman & their fees out of the process.  They also allow for your data to be distributed without the need for a centralized distribution point that is owned by one entity.

People who are not miners invest in the cryptocurrencies that are being “mined” by these miners.  A miner is a person who basically uses their computer to solve complicated mathematical problems.  Each time they successfully solve a problem a coin is created.  These miners are paid in partials of coins that is based on a variety of factors.  The remaining partials are then placed on the market for non-miners to invest in or use as actual forms of currency to purchase items.  Matter of fact, Japan just recently recognized Bitcoin as a legit form of currency to purchase items.  There are even ATM machines in various countries (too include the US) that allow you to “withdraw” Bitcoin instead of dollars.

But here is what I really want black people to grasp & understand as this whole discussion relates to cryptocurrency and the blockchain technology…Black people need to think of this technology like it is the Internet 3.0.

When the internet first came out for general public use 20 something years ago, the internet was basically a place to visit websites and read stuff.  That was it.  The only people who were really making money off of the internet during that time were ISP’s (internet service providers) & people who registered domain names for the sole purpose of holding them and selling them to people later on (think if you bought Walmart_dot_com back then how much Walmart would have paid you to get that domain name).  You had a few other ways of making money here & there (the Dotcom Boom) but that was pretty much it.  Internet 2.0 ushered in the era of e-commerce & social media (where we presently are now).  As crazy as this may sound, a lot of people honestly didn’t think e-commerce or social media would take off.  A lot of people couldn’t fathom the idea of people buying products online or spending more time on a social media platform communicating to people than they did in real life.  But in the year 2017, look at how we communicate & engage in commerce now.  So now think of blockchain & cryptocurrency as internet 3.0 to where the internet will begin moving away from big companies like Google, Facebook, & banks controlling or having some influence on every aspect of everything that takes place on the internet.  The blockchain will not put these people out of business, but the blockchain will give people more power over how our data is being utilized on the internet.  This is all about ownership & control on the individual level versus relying on the big entities to do it for us.  Cryptocurrencies such as Bitcoin have proven that there is a real demand & shift taking place to where as this technology continues to grow & mature, a lot of potential money stands to be made.

Bit3....PNG

Cryptocurrencies function off of a technology called blockchain.  Blockchain essentially eliminates the single point of failure aspect by removing the storage of data on centralized servers owned by private/public entities.  The data on the blockchain whether it is financial transactions, social media activities etc are stored across a gigantic network of computers called nodes to where the information stored cannot be controlled by one entity or hacked causing severe problems due to single point of failure issues I described above.  The reason the data on the blockchain cannot be hacked is because the data resides on a distributed network is highly encrypted to where a hacker can’t just hack one single point on the blockchain, they would have to hack the entire blockchain essentially.  Also, the data residing in the blocks on the blockchain are constantly updated across the network to wherever you access the data on the network, the data will be the same.

Here’s an example of what I mean by the data being centralized & decentralized in addition to the data being “mirrored” across the network no matter where you are to access the data.

Back in the day on Microsoft Word a person would type a paper, save the paper, & then email the paper to somebody to make corrections.  The person whom the email was sent to would get the email, open MS Word, make corrections, email you the paper back, then you would make necessary changes to the paper.  This entire process was centralized to where only one party had control of the paper at a time and the other party couldn’t get access to the paper until the owning party relinquished control.

Now, we have Google Docs (basically cloud computing) to where multiple parties at the same time can access, view and/or edit the paper in real time without waiting for one party to relinquish control of the paper (decentralized).

How this ties into the data floating around on the blockchain is…you’re not inputting your data into just one entity and entrusting that one entity to do the right thing as far as processing and safeguarding your data (for a fee in most instances).  You are now putting your data across a distributed network to where copies of that data will exist in multiple places at once.  So, if I upload some data from my home computer on the blockchain, my data will be added to the blockchain which will then be replicated across the network and not just sitting on one server that I would need to gain access to (think…logging into Facebook, you’re essentially logging into a site that stores your updates on their servers).  In a decentralized scenario, in theory, I would be able to log into my gmail account and still be able to access my data on Facebook.

Now some of you are probably wondering how this data is protected if this data is “free floating” on the blockchain versus the data (supposedly) being protected on some entity’s servers.

Simple, the data is encrypted (it’s encrypted on these entity’s servers too by the way…or at least should be).  But the encryption on the blockchain isn’t CENTRALIZED, meaning you are not relying solely on that one entity to encrypt & protect your data.

So how the encryption works is fairly simple for the most part.  Blockchain works off of an encryption practice called asymmetric encryption.  Asymmetric encryption involves the use of a public & private key to gain access to data.  Any data you put on the blockchain is encrypted to where the data looks like a bunch of meaningless letters, numbers & symbols that would literally take decades (if not longer) to decipher.

A private & public key can be thought of this way…

You maintain a mailbox at a UPS store.  UPS gives you 2 keys:  one to access the UPS store and the other key to access your personal mailbox within the store.  The UPS store key that you possess is the same key that some random person with a mailbox at the UPS store would possess as well, but that random person does not have your private key (or shouldn’t) to access your personal mailbox.

So on the blockchain, what tends to happen is, people constantly give out their public key to pretty much anybody who wants it for the purpose of exchanging data (and/or “money”…cryptocurrency).  But to unlock or gain access to the item in the transaction, a person would need your private key to do so.  So basically what takes place is, Person A wants to send an item to Person B.  Person A sends an item to Person B using Person B’s PUBLIC KEY.  This item is encrypted within Person B’s PUBLIC KEY.  Person B receives the item from Person A.  Person B now uses his PRIVATE KEY to decrypt his PUBLIC KEY to get access to the item Person A sent him.  If anybody were to intercept Person B’s PUBLIC KEY, they would NOT be able to access the data encrypted on that public key without having access to Person B’s PRIVATE KEY.  Person A can’t even get access to the data he sent Person B because Person A used Person B’s PUBLIC KEY to encrypt the data and ONLY Person B’s PRIVATE KEY can decrypt Person B’s PUBLIC KEY.  Got it?  Good.

Now, all of these transactions are continually updated across the blockchain network in a matter of minutes to where each transaction is essentially “etched in stone” to where a new “block” is created in the overall network which is then duplicated everywhere on the network (think of my Google Docs analogy).  This is important because in order to hack the system, every other block that was created prior to the new block would have to be hacked as well which would require computing power that probably doesn’t exist to even make it worth somebody’s time & effort to attempt.  You can’t just hack one block, all the blocks are connected which mean you would have to hack ALL OF THE BLOCKS.  Also, you can’t delete data on the block once the data is recorded.  Now for the sake of this blog article, I’m choosing not get too technical beyond this point to prevent really confusing the hell out of people who have no idea how this works, but just want a basic general understanding of the technology behind it.

Cryptocurrency..

What I really want people to understand is why one Bitcoin is currently worth over $7K and why black people need to seriously get caught up on this technology to where you could benefit big from it in the coming years.  Crytocurrency (Bitcoin and other coins) is an intangible asset that rewards people for participating in the creation, maintenance & growth of the blockchain.  These people are called miners.  These people allow for their computers to be used as nodes for creating the actual blockchain which allows for you to engage in peer-to-peer transactions which also allows for you to remove the middleman & their fees out of the process.  They also allow for your data to be distributed without the need for a centralized distribution point that is owned by one entity.

People who are not miners invest in the cryptocurrencies that are being “mined” by these miners.  A miner is a person who basically uses their computer to solve complicated mathematical problems.  Each time they successfully solve a problem a coin is created.  These miners are paid in partials of coins that is based on a variety of factors.  The remaining partials are then placed on the market for non-miners to invest in or use as actual forms of currency to purchase items.  Matter of fact, Japan just recently recognized Bitcoin as a legit form of currency to purchase items.  There are even ATM machines in various countries (too include the US) that allow you to “withdraw” Bitcoin instead of dollars.

But here is what I really want black people to grasp & understand as this whole discussion relates to cryptocurrency and the blockchain technology…Black people need to think of this technology like it is the Internet 3.0.

When the internet first came out for general public use 20 something years ago, the internet was basically a place to visit websites and read stuff.  That was it.  The only people who were really making money off of the internet during that time were ISP’s (internet service providers) & people who registered domain names for the sole purpose of holding them and selling them to people later on (think if you bought Walmart_dot_com back then how much Walmart would have paid you to get that domain name).  You had a few other ways of making money here & there (the Dotcom Boom) but that was pretty much it.  Internet 2.0 ushered in the era of e-commerce & social media (where we presently are now).  As crazy as this may sound, a lot of people honestly didn’t think e-commerce or social media would take off.  A lot of people couldn’t fathom the idea of people buying products online or spending more time on a social media platform communicating to people than they did in real life.  But in the year 2017, look at how we communicate & engage in commerce now.  So now think of blockchain & cryptocurrency as internet 3.0 to where the internet will begin moving away from big companies like Google, Facebook, & banks controlling or having some influence on every aspect of everything that takes place on the internet.  The blockchain will not put these people out of business, but the blockchain will give people more power over how our data is being utilized on the internet.  This is all about ownership & control on the individual level versus relying on the big entities to do it for us.  Cryptocurrencies such as Bitcoin have proven that there is a real demand & shift taking place to where as this technology continues to grow & mature, a lot of potential money stands to be made.

Article by Gee Lowery

Colin Kaepernick(Kappa Alpha Psi)- Boule Negros and Fake Black Consciousness

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The picture above is of NFL quarterback Colin Kaepernick receiving the Muhammad Ali Legacy award from Sports Illustrated.  He was presented the award by singer Beyoncé this past Tuesday.  The event was the 2017 Sportsperson of the Year Awards in New York. I did a post about a year ago stating that the Kaepernick protest was all staged.  It was staged by the European elite who control the NFL. Colin is not about black liberation.  He is there to confuse black people into thinking he’s fighting for them.  It was to cause more racial division/tension and distract the masses of Americans.  He helped to distract people from a possible war with North Korea a nd also the fact that many of out civil liberties are being taken away.  Two things that always get a person’s attention: Sex and Race.   I don’t think many black people realize how much of this is orchestrated.  What you see in the mainstream media is all filtered for your eyes.  The “Kaepernick operation” is no different.

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This photo(above) is of Muhammad Ali in Africa back in 1974.  When he had the Rumble in the Jungle fight.

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Now look at this recent photoshoot of Colin for GQ magazine.  He took this picture in Harlem.  Wearing a dashiki???  Hmmmm….that looks familiar.

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This is a great video(above) by Black Child.  He is really good at decoded signs and symbols used in movies and television shows.  In this video he exposes the fact that Colin is a fraud.  Colin is in the college fraternity Kappa Alpha Psi.  These fraternities are controlled by the Jewish/white elite.  If you join the fraternity they allow certain black and biracial people to get attain fame and fortune.  Some of the familiar names are men like Cedric the Entertainer,Arthur Ashe,John Singleton,Oscar Robertson,Bill Russell,Stan Lathan,Vernon Jones,Marc Lamont Hill,Tavis Smiley and yes even Johnnie Cochran.

http://www.lakappaalphapsi.org/fraternity/notable-kappas/

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I did the post in the hope that black people can truly raise their consciousness.  I’ve seen  a lot of black people on Facebook and Twitter calling Kaepernick a hero.  Apparently a lot of our people think they’re “woke” by appearing to be pro-black.  But they’ve bought into the deception they’ve been given.  Colin is nothing but controlled opposition.  He is own and controlled by the very people many people think he’s fighting against.  He speaks about racism and police brutality.  But he answers to the very same people that are the most racist.  All his activism is an act. This biracial dude has so many of you fooled.  Many of you really think he’s about black pride,black power and being Afrocentric. Going around sporting an afro and wearing dashikis.  But I’m not falling for it.  I’m hip to the game. I know this is hard for many to accept. Black people always look at things at face value.  But when you’re in a war you have to look beneath the surface.  It’s important that we use our critical thinking skills when examining white supremacy.  White supremacy is very refined at the moment.  The best way to combat a movement is to control yourself.  Colin protesting the national anthem is no different than the white-controlled Black Lives Matter movement.  Some people say it’s important to know who are your real friends.  Others say you should keep your enemies close.  I think it’s also important to know who acts like a friend but is an undercover enemy. The type of low life snake plotting your downfall or leading you down a path of destruction.