Bitcoin Realities: Why BTC is not a balloon, and why people do not understand that.

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History

Balloon trends:

Most have seen these investment schemes like off shore properties that were going to blow up, or weak penny stocks that would magically explode; however, BTC is not a holding, it is a currently active use barter tool. Guess what the US dollar is, an actively used barter tool. What is gold, out side of art, medicine, and electronics, an actively used barter tool.

Properties and timeshares are not active barter tools, so their value is only in the holder’s eyes. Where as a person using USD, Gold, or BTC, are using it for monetary exchange. Look at the collapse of Greece, where the Greece Euro was so devalued that the only way anyone could import was via BTC exchange. Even now, economies that have been threatening to collapse are converting to BTC, and while the government may fail, the people are still doing business.

Also note that we don’t want to forget what happened in Cyprus.

  1. http://fortune.com/2015/07/10/greece-bitcoin-bitchain/
  2. https://bitcoinmagazine.com/articles/volume-bitcoin-trades-continues-surge-brazil-1441145547/
  3. https://www.nytimes.com/2015/05/03/magazine/how-bitcoin-is-disrupting-argentinas-economy.html
  4. https://www.theguardian.com/technology/2016/dec/16/venezuela-bitcoin-economy-digital-currency-bolivars
  5. http://money.cnn.com/2013/03/28/investing/bitcoin-cyprus/index.html

People are investing on potential only:

If people are investing on potential and promises only, they are being foolish. However, people are investing in real results. This is why property in the south seas islands, and other fake investment schemes are not the equivalent to the BTC boom.

Below is a non-exhaustive list of how to acquire and use your BTC in practical use.

  • WordPress.com – An online company that allows user to create free blogs
  • Overstock.com – A company that sells big ticket items at lower prices due to overstocking
  • Subway – Eat fresh
  • Microsoft – Users can buy content with Bitcoin on Xbox and Windows store
  • Reddit – You can buy premium features there with bitcoins
  • Virgin Galactic – Richard Branson company that includes Virgin Mobile and Virgin Airline
  • OkCupid – Online dating site
  • Namecheap – Domain name registrar
  • CheapAir.com – Travel booking site for airline tickets, car rentals, hotels
  • Expedia.com – Online travel booking agency
  • Gyft – Buy giftcards using Bitcoin
  • Newegg.com – Online electronics retailer now uses bitpay to accept bitcoin as payment
  • Wikipedia – The Free Encyclopedia with 4 570000+ article
  • Steam – Desktop gaming platform
  • Alza – Largest Czech online retailer
  • The Internet Archive – web documatation company
  • Bitcoin.Travel – a travel site that provides accommodation, apartments, attractions, bars, and beauty salons around the world
  • Pembury Tavern – A pub in London, England
  • Old Fitzroy – A pub in Sydney, Australia
  • The Pink Cow – A diner in Tokyo, Japan
  • The Pirate Bay – BitTorrent directories (Offline)
  • Zynga – Mobile gaming
  • 4Chan.org – For premium services
  • EZTV – Torrents TV shows provider
  • Mega.co.nz – The new venture started by the former owner of MegaUpload Kim Dotcom
  • Lumfile – Free cloud base file server – pay for premium services
  • Etsy Vendors – 93 of them
  • PizzaForCoins.com – Domino’s Pizza signed up – pay for their pizza with bitcons
  • Whole Foods – Organic food store (by purchasing gift card from Gyft)
  • Bitcoincoffee.com – Buy your favorite coffee online
  • Grass Hill Alpacas – A local farm in Haydenville, MA
  • Jeffersons Store – A street wear clothing store in Bergenfield, N.J
  • Helen’s Pizza – Jersey City, N.J., you can get a slice of pizza for 0.00339 bitcoin by pointing your phone at a sign next to the cash register
  • A Class Limousine – Pick you up and drop you off at Newark (N.J.) Airport
  • Seoclerks.com – Get SEO work done on your site cheap
  • Mint.com – Mint pulls all your financial accounts into one place. Set a budget, track your goals and do more
  • Fancy.com – Discover amazing stuff, collect the things you love, buy it all in one place
  • Bloomberg.com – Online newspaper
  • Humblebundle.com – Indie game site
  • BigFishGames.com – Games for PC, Mac and Smartphones (iPhone, Android, Windows)
  • Suntimes.com – Chicago based online newspaper
  • San Jose Earthquakes – San Jose California Professional Soccer Team (MLS)
  • Crowdtilt.com – The fastest and easiest way to pool funds with family and friends
  • Museum of the Coastal Bend – 2200 East Red River Street, Victoria, Texas 77901, USA
  • eGifter.com – for Gap, GameStop and JC Penney purchases
  • Fight for the Future (fightforthefuture.org)– Leading organization finding for Internet freedom
  • i-Pmart (ipmart.com.my) – A Malaysian online mobile phone and electronic parts retailer
  • curryupnow.com – A total of 12 restaurants on the list of restaurants accept bitcoins in San Francisco Bay Area
  • Dish Network (https://dealbook.nytimes.com/2014/05/29/dish-network-to-accept-bitcoin/) – An American direct-broadcast satellite service provider
  • The Libertarian Party – United States political party
  • Yacht-base.com – Croatian yacht charter company
  • Euro Pacific – A major precious metal dealer
  • CEX – The trade-in chain has a shop in Glasgow, Scotland that accepts bitcoin
  • Straub Auto Repairs – 477 Warburton Ave, Hastings-on-Hudson, NY 10706 – (914) 478-1177
  • PSP Mollie – Dutch Payment Service
  • Intuit – an American software company that develops financial and tax preparation software and related services for small businesses, accountants and individuals.
  • http://www.shopjoy.com.au – An Australian online retailer that sells novelty and unique gifts
  • lv.net – Las Vegas high speed internet services
  • ExpressVPN.com – High speed, ultra secure VPN network
  • Grooveshark – Online music streaming service based in the United States
  • Braintree – Well known payments processor
  • MIT Coop Store (store.thecoop.com/coopstore/estore_home.jsp) – Massachusetts Institute of Technology student bookstore
  • SimplePay – Nigeria’s most popular web and mobile-based wallet service
  • SFU bookstore (sfu.collegestoreonline.com) – Simon Fraser University in Vancouver, Canada
  • State Republican Party – First State Republican Party to accept bitcoin donations
  • mspinc.com (http://www.lagop.com/bitcoin-donate) – Respiratory medical equipment supplies store
  • Shopify.com – An online store that allows anyone to sell their products
  • Famsa – Mexico’s biggest retailer
  • Naughty America – Adult entertainment provider
  • Mexico’s Universidad de las Américas Puebla – A major university in Mexico
  • LOT Polish Airlines – A worldwide airline based in Poland
  • MovieTickets.com – Online movie ticket exchange/retailer
  • Dream Lover – Online relationship service
  • Lionsgate Films – The production studio behind titles such as The Hunger Games and The Day After Tomorrow
  • Rakutan – A Japanese e-commerce giant
  • Badoo – Online dating network
  • RE/MAX London – UK-based franchisee of the global real estate network
  • T-Mobile Poland – T-Mobile’s Poland-based mobile phone top-up company
  • Stripe – San Francisco-based payments company
  • WebJet – Online travel agency
  • Green Man Gaming – Popular digital game reseller
  • Save the Children – Global charity organization
  • NCR Silver – Point of sales systems
  • One Shot Hotels – Spanish hotel chain
  • Coupa Café – Palo Alto
  • PureVPN – VPN provider
  • That’s my face – create action figures
  • Foodler – North American restaurant delivery company
  • Amagi Metals – Precious metal furnisher

Plus there are massive numbers of BTC ATMs that are springing up many countries, and the USA. This allows you to convert your cash to BTC or BTC to cash.

It’s easier to spend gold

I don’t know any vendors or merchants that will take gold for commodity items, except for gold and precious metal dealers. Take a brick of gold to a Subway, and buy a sandwich.

The USD is backed by the US government

Backed with what? Violence? The USD only holds value because of three cases.

  1. You must pay your taxes in USD, or be fined, jailed, or worst case executed. All taxation if plunder, because it is someone claiming that they have more of a right to the fruits of your life than you do.
  2. Most vendors and merchants don’t understand BTC, and would rather pay high Credit Card fees, rather than learn. So let’s chalk this one up to mental laziness.
  3. The public believe that there is value in the USD. The USD is worth than 3 cents of its value since 1913.

    Figure 1 USD compared to gold

    http://www.comparegoldandsilverprices.com/news/economics-101/dollar-devaluation-since-1913/

What does it mean to back the USD?

Is the dollar backed by gold? Nope. Look at your cash. It is called a bank note. Bank notes are debt. That means that someone owes you something. But the USD is payable in bank notes. Meaning that the debt is payable with more debt. That is it. Nothing more.

Pre-Nixon era, the USD was backed by silver and gold, which the constitution required, but thx to tricky Dick, no more. Yay, our money is valueless, and at that only about 3 cents to the original value of the dollar.

Remember how everyone was complaining that China was playing with the value of their currency? Well they learned from the US. Economic easing, and other Federal Reserve inventions, take existing USD and reduce their value by flooding the market with cheep paper. This is why the newer minted coins are made of cheaper and cheaper metals, because we cannot have a quarter be valued over $100 USD, which it would have been if the source material had not changed.

So what backs the USD? The threat of violence if you don’t use it!

If you look at everything from the SEC and Trade Commission regulations, to the RICCO laws, the government has basically stated that you are the property of the US government, and must act like happy little slaves, otherwise the government will take away everything that you own. Don’t believe me? Here is the tip of the iceberg, http://ij.org/pillar/private-property/?post_type=case. Enjoy reading, and in some cases watching.

What is BTC backed with?

The intent of millions of people to do peaceful business without initiatory violence of government. The conviction of millions to not rely on governments, which said government have proven to be violent sociopaths looking for their next victims.

The trust of the people that BTC will hold its value better than the USD in the long term.

Should I toss everything into BTC?

Good God no! If you have no clue on how to save and invest in the future, get a financial advisor, and start diversifying now.

Now

Should I ditch the USD

Has everyone switched to BTC? No? Then don’t. However consider that you wouldn’t bank your assets on a criminal organization, so why are you hedging your bets on the USD?

  • CIA drug trafficking
  • Border Patrol Abuse of American Citizens
  • United States war crimes
  • Feds Spend Over $700 Million On A Radioactive Waste Plant That Doesn’t Work
  • EPA Keeps Secrets In Gold King Mine
  • Hundreds Of Thousands Of Vets Have Died While Waiting For VA Care, Whistleblower Says
  • New document reveals FBI’s role in NSA surveillance program
  • Legal Expert: EPA’s CO2 Rule Violates Federal Data Quality Law
  • XKeyscore exposed: How NSA tracks all German Tor users as ‘extremists’
  • US troops protecting the international opium trade
  • Ever growing list of scandals, and crimes as recorded in history

I should trust the government, that’s what the bible says

Those are words right from the mouth of a brain washed government slave.

1 Samuel 8:11 – 18

11 He said, “This will be the procedure of the king who will reign over you: he will take your sons and place them for himself in his chariots and among his horsemen and they will run before his chariots. 12 He will appoint for himself commanders of thousands and of fifties, and some to do his plowing and to reap his harvest and to make his weapons of war and equipment for his chariots. 13 He will also take your daughters for perfumers and cooks and bakers. 14 He will take the best of your fields and your vineyards and your olive groves and give them to his servants. 15 He will take a tenth of your seed and of your vineyards and give to his officers and to his servants. 16 He will also take your male servants and your female servants and your best young men and your donkeys and use them for his work. 17 He will take a tenth of your flocks, and you yourselves will become his servants. 18 Then you will cry out in that day because of your king whom you have chosen for yourselves, but the LORD will not answer you in that day.”

So having a government of MEN will enslave you. We are there.

But the New Testament says we are to have government

No, but I will cover these in quick succession. But first, we must remember that chapter and verses are modern additions to the scriptures. The book of Romans was a letter, not a chapter filled book. That letter is known to be a letter because its name is the Epistle to Rome; epistle meaning letter.

Romans 13:1-7

1 Every person is to be in subjection to the governing authorities. For there is no authority except from God, and those which exist are established by God. 2 Therefore whoever resists authority has opposed the ordinance of God; and they who have opposed will receive condemnation upon themselves. 3 For rulers are not a cause of fear for good behavior, but for evil. Do you want to have no fear of authority? Do what is good and you will have praise from the same; 4 for it is a minister of God to you for good. But if you do what is evil, be afraid; for it does not bear the sword for nothing; for it is a minister of God, an avenger who brings wrath on the one who practices evil. 5 Therefore it is necessary to be in subjection, not only because of wrath, but also for conscience’ sake. 6 For because of this you also pay taxes, for rulers are servants of God, devoting themselves to this very thing. 7 Render to all what is due them: tax to whom tax is due; custom to whom custom; fear to whom fear; honor to whom honor.

Verse by verse breakdown:

  1. Verse 1
    1. Governing authority here is hyperechō exousia, from the Greek translations.
      1. Hyperechō – This means to hold over, to rise up, to stand out. It can mean to rule over, but that isn’t by far the only translation. It would be very common to say that the roofer was hyperechō of all roofers. Not the ruler over, but the best of.
      2. Exousia – Thought ability, rulership, liberty. This can easily be one who has liberty, or of great thought.
      3. So the combination of these words could easily be one who is outstanding in thought process, or outstanding in liberty. What is more, is when you read chapter 12: 14 – 21, which bleeds right into chapter 13, the verse is now obvious that it is talking about strength of character.
    2. There is no authority except from God
      1. Of course. That is because all authority of men is a delusion. Placed there by people who think that there is some magical reason to obey this man god.
      2. Note that 1 Samuel 8, God even said that these people are doing this because they have turned against God all mighty.
    3. Those that exist are established by God
      1. Who was established by God? I can name him as King of Kings and savior of man.
      2. There were appointees that stood a surrogates for the coming Christ, but they were not the Christ. Are they still the established of God, or did they die from age, sickness, and war, like those around them?
      3. Once the king ascended, there is no need for another king surrogate since. Either Jesus still lives, ascended, or claims of being Christian are false.
  2. Verse 2
    1. The only way you can misinterpret verse 2 is to not have understood Romans at all.
      1. “whoever resists authority has opposed the ordinance of God;”, who is the authority of God? Jesus. Also note that this directly relates to II Corinthians 10:5.
      2. “they who have opposed will receive condemnation upon themselves”, what does the scriptures say? All sin is worthy of death. The only way to come unto the Father is through Christ Jesus. All salvation is through Christ Jesus. If you do not bow to the authority of God, which is Jesus Christ, then you are receiving condemnation upon yourself. Simple.
  3. Verse 3
    1. “For rulers are not a cause of fear for good behavior, but for evil.” What is doing good according to the book of Romans? It isn’t works, because all of our works are as dirty rags before God. It is the obedience of Christ Jesus to God, and our stand on that message.
    2. “Do you want to have no fear of authority?”, do you fear judgement? Do you fear the end times? Why?! People fear these things when they are ignorant of the grace message. They are ignorant of the peace and sacrifice of Christ Jesus, that we are no longer at odds with God.
    3. “Do what is good and you will have praise from the same;” What is good? Again, it isn’t works, it is living and renewing your mind to what was done for you by Christ Jesus, as per Romans 12:2.
  4. Verse 4
    1. for it is a minister of God to you for good
      1. What is this “it”? Look at the previous verse. It is the praise of God. What is praise, but words. God’s words have POWER. These are words for Good.
    2. But if you do what is evil, be afraid; for it does not bear the sword for nothing;
      1. It is also words, but these words are powerful. They contain the force where we are to not take vengeance for ourselves, but allow God’s authority to work according to His power.
    3. for it is a minister of God, an avenger who brings wrath on the one who practices evil.
      1. And those words are the minister of God, which bring wrath on evil.
  5. Verse 5
    1. Therefore it is necessary to be in subjection,
      1. This is keeping your mind on that which is good, as we defined before.
    2. not only because of wrath,
      1. Not just to keep you safe
    3. but also for conscience’ sake.
      1. But it builds up your mind.
  6. Verse 6
    1. For because of this you also pay taxes,
      1. Phoros is the Greek for tribute. Taxes are tributes, but not all tributes are taxes. All squares are polygons, but not all polygons are square.
    2. for rulers are servants of God,
      1. Look at verse 1 again, remember that this is a person of high thought process, or high liberty.
    3. devoting themselves to this very thing.
      1. Look at what verse 4 & 5 just talk about. These people are devoting themselves to that message.
  7. Verse 7
    1. Render to all what is due them:
    2. tax to whom tax is due;
      1. tribute
    3. custom to whom custom;
      1. I’m not sure how telos got translated to custom when the word basically means end, or goal. However, based on context, it would be to help them on their way.
    4. fear to whom fear;
      1. Awe, as in the respect, or fear that you provide a giant waterfall as you stand near the base.
    5. honor to whom honor.
      1. Honor is honor. I don’t need to delve into this.

Titus 3: 1 – 2

1 Remind them to be subject to rulers, to authorities, to be obedient, to be ready for every good deed, 2 to malign no one, to be peaceable, gentle, showing every consideration for all men.

  1. First part of verse 1
    1. Remind them to be subject to rulers,
      1. Archē is the beginning of things, a ruler, or leader, even a message.
    2. to authorities,
      1. exousia, just as in Romans 13, this is Christ Jesus
  2. Remainder of verse 1, and verse 2
    1. These are the standard that we are to keep. Not as law, but as measure. Remember Romans 12:2.

1 Peter 2:13-17

13 Submit yourselves for the Lord’s sake to every human institution, whether to a king as the one in authority, 14 or to governors as sent by him for the punishment of evildoers and the praise of those who do right. 15 For such is the will of God that by doing right you may silence the ignorance of foolish men. 16 Act as free men, and do not use your freedom as a covering for evil, but use it as bondslaves of God. 17 Honor all people, love the brotherhood, fear God, honor the king.

  1. Verse 13
    1. Submit yourselves for the Lord’s sake to every human institution,
      1. Hypotassō – to arrange under. To manage, or subject
      2. In this case, subject yourself
      3. Dia – here is is “for” but the Greek says it through.
      4. Kyrios – the master, or lord of the thing. Remember that Jesus is King of Kings, and Lord of Lords, and that we are subject to Him. So we are subjecting ourselves to him, in every anthrōpinos (human owned) ktisis (establishment).
      5. Sum it up, that we are to subject ourselves to Christ Jesus in every establishment, or you can also say “thing”.
    2. whether to a king as the one in authority
      1. The king here is basileus, also known as leader of people. Not God’s authority.
      2. The authority here is the hypercho again, and you are submitting yourself as the authority. What authority? The Lord’s authority of course, as you will see why.
  2. Verse 14
    1. or to governors
      1. people sent by the basileus
    2. as sent by him
      1. by the basileus
    3. for the punishment of evildoers
      1. We are judging them by the standards given us in Romans and Corinthians
    4. and the praise of those who do right.
      1. And being recognized by those who we recognize.
  3. Verse 15
    1. For such is the will of God that by doing right you may silence the ignorance of foolish men.
      1. By doing such right work, we are fulfilling Romans 12:2, and proving what is the good will of God.
  4. Verse 16
    1. Act as free men,
      1. You are not a possession of the kings and rulers of this world
    2. and do not use your freedom as a covering for evil,
      1. Do not use your liberty as a grounds to do villainy
    3. but use it as bondslaves of God.
      1. But see it as an opportunity to keep your mind on God.
  5. Verse 17
    1. Honor all people,
      1. We are not creating a caste system
    2. love the brotherhood,
      1. Always taking care of the body (family) of Christ
    3. fear God,
      1. Reverence awe of God
    4. honor the king.
      1. Jesus Christ is the King of Kings.

1 Timothy 2:1-2

1 First of all, then, I urge that entreaties and prayers, petitions and thanksgivings, be made on behalf of all men, 2 for kings and all who are in authority, so that we may lead a tranquil and quiet life in all godliness and dignity.

  1. Verse 1
    1. First of all, then, I urge that entreaties and prayers, petitions and thanksgivings, be made on behalf of all men,
      1. Pray for people.
  2. Verse 2
    1. for kings and all who are in authority, so that we may lead a tranquil and quiet life in all godliness and dignity.
      1. It is interesting that basileus and hyperochē are used like this, because it denotes that these are not the same people.
      2. If you have a basileus in your life, wouldn’t you want to have them live a quiet godliness life, and not be a warlord tyrant?

These are the top 4 of the verses that are tossed at me when I decry the villainy of government, and why we should operate without one. Now you know how I see them, and with both understanding and logic, they mean exactly the opposite of what the people who worship government want you to believe.

Summary

  1. History shows that BTC is not a fraud, based on what we have seen of previous fraud patterns.
  2. BTC is a fiat currency, not covered here in enough details, but then, so is the USD and most other currencies. But BTC has oversight of the market, whereas USD is generated by bulk mass production of paper, and mostly non-limiting fractional reserve banking process.
  3. All fiat currencies are technically balloons, but only BTC is based on two great factors, no state enforced violence, and market relationship of the coin to the goods and services rendered.
  4. Yes, invest. No, don’t bet the farm.
  5. Every time you hear a Christian backing a state issued currency, remember that they are doing so contrary to the scriptures, and the knowledge of God.

Endnotes

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