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Gold, Silver and Bitcoin: The ultimate interview by VisionVictory

This is a most excellent interview where Trace Mayer interviewed by VisionVictory uses excellent analogies and explanations in order to help people grasp what is Bitcoin and bitcoins and how it works and why you should care. I highly recommend spending these 30min and learning this information:

http://youtu.be/OtN9YUvh_XM

http://www.futuremoneytre...

In this interview we sat down with Trace Mayer of Run To Gold & How To Vanish and discussing the very interesting topic of the acceleratingly popular alternative currency known as Bitcoin.

QUOTES:

5:27: Regarding the Bitcoin code, "It's open source; so far there hasn't been anyone that's able to compromise the code"
6:13: "It allows for capital to be accumulated and be saved and stored in a much better way I think than necessarily gold or silver"
6:51: "Currently the bitcoin network is secured by processing power. Approximately 250 petaFLOPS. The department of Energy just built a supercomputer for $1.2 Billion that has 15 petaFLOPs"

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The Bitcoin source

code is open source and anyone can review the code. Many qualified experts already have and have found no serious flaws.

Think of it like Linux. That is also open source software which anyone can use or work on. There are different Linux distributions, Red Hat, Debian, etc. and people choose the one they like best. With Bitcoin everybody agrees to the same version of rules, the protocol, and that means anybody making code modifications the majority don't agree with will be rejected by the Bitcoin network.

Nice touch...

adding the hummingbird at 2:30 :)

lol

How in the world did you catch that? I watched this interview a few times now in order to memorize the excellent explanation and analogies Trace gives and if you didn't mention I wouldn't have seen that bird.

Also..

in case you didn't catch it Bitcoin was mentioned on the Alex Jones show by Max Keiser yesterday:

http://www.youtube.com/watch?v=pXXPVndVvxQ&t=34m56s

...
Max: I'll say something and I'll mention something.. you're probably not going to like it though.. because it's very very.. kind of.. ah.. sub.. sub surface type stuff
but you know I gotta say that I am.. I spent the last weekend attending the Bitcoin 2012 conference here in London.
And on the surface it sounds.. doesn't sound good, but when you get into what Bitcoin is really all about Alex, it really is the currency of the resistance.

Basically if we are entering into an environment of 360 degrees of surveillance. Of.. us being surveyed .. every click of the mouse, every web page we view, every email totally read.
(inaudible)

Alex: Walking outside we're being face scanned.

Max: Right.. If that's where we're headed, then Bitcoin, which is, the value of Bitcoin is entirely tied to its cryptological content.. it's cryptology as a currency.
And therefore it really could be the currency of resistance going forward.
On the surface.. it's .. it's hard to get there because you say.. ok it's a digital currency, and we just talked about how bad digital currencies are,
and you know it's a computer driven currency and we just talked about how bad that is. But once you get down into the surface a little bit and you drill into what's really going on with bitcoin, you find out there's this thriving global community (inaudible)

Alex: I'll say this.. there's a lot of globalist connected groups I won't mention.. that that do not like the word Bitcoin. They ban it on these government front sites out there that we know are government...

Max: Ok.. well.. I mean that's a good sign right.. because the globalists hate Bitcoin because it's completely.. cryptologically.. it's it's.. no cost transactions.. you can move money around at zero cost... ah it's.. the currency itself has a quote like any other currency..so it's like 11 dollars and 80 cents per Bitcoin.. but that's not the main thing, the main thing is you can zip in and out of Bitcoin for almost zero cost...

Alex: Well listen we're gonna have to get you back on.. soon to talk about that.. but ah..
(changes the subject)

...

Max Kesier is a complete

MORON.

Why?

That is a strong statment. Any reasons behind it?

Not saying he isn't, but a simple stament to call someone something without actual "proof" or something to back what you say... well it makes you look like the thing you call others!

Just say'n.

Just plain 'Happy'about the direction the world is taking! Especially if we live to reach LEV [Longevity Escape Velocity]