2 votes

Bit Coins Can End Banksters Currency Monopoly!

Posted this in another thread but thought it deserved its own thread because I had an epiphany here...

"Under European laws, the deal means Bitcoin-Central becomes a Payment Services Provider (PSP) that has an International Bank ID number. This puts it on an equal footing with other payment networks such as PayPal and WorldPay. As a PSP it will be able to issue debit cards, carry out real-time transfers to other banks and accept transfers into its own coffers."


In the other thread some of the proponents of Bit Coin have convinced me to start accumulating Bit Coins. I researched them when they first came out and liked the concept however being in the computer/network business was skeptical that they could not be hacked.

I am still skeptical especially with government super computers but lets face it we are heading for electronic currency anyway and these are decentralized untraceable and nontaxable that is better then the dollar.

There biggest vulnerability seems to be if we had a sustained power black out. So why not continue to invest in gold and silver to hedge against that but in the mean time lets move the economy to Bit Coins and make the dollar crash irrelevant? We now have the power to do it with bit coins so lets do it?

My idea is to promote bit-coins in your local area as a local alternative currency like Ithaca hours or Berk Shares etc. Why not promote bit coins the same way? Get local stores and merchants to except them and screw the dollar it is nothing but a wealth killer for the middle class to steal the wealth and funnel it to the banksters?

A few people in most major cities and towns could change the country doing this? I think the guys who started Ithaca hours wrote a book on how they did it may be worth reading? They had to print a currency though, with bit coins the currency is ready made just start an exchange or what ever it takes?

We sit here and listen to people bitch and moan about the goddamn republican party and try to work with all that corruption. Here is something we can do right now and take matters into our own hands and cut the banksters out of the deal! You don't need a bank to store bitcoins for you! If paypal and world pay gets in on the act it's over we will have a new free world currency untraceable nontaxable etc. of course with bitcoin who needs paypal? We won't need all their banking networks to transfer money just a computer and a thumb drive to plug it into. Shit this is bigger then I thought??? Jeeze we can cut the banks out of this whole thing if Bit coin catches on.

Of course morons will still use the banking networks because that is what they are used to doing and programmed to do. That is why theses banks are jumping on the band wagon now before we cut them out completely. All you need is a computer for bit-coins. We need to strike while the iron is hot here...

What are we waiting for. Fuck these assholes and their currency monopoly lets take it from them we have the tools now lets do it. Damn people this is big really big. We have an opportunity here time to study up on Bit coins and how to accumulate them and use them and promote them as your local currency. Death to the dollar and all fiat currencies!

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Cyril's picture

I sincerely think Bitcoin isn't a bad idea

I sincerely think Bitcoin isn't a bad idea.

Its token inflation (out of its "computational mining") is not only predictable, it is deterministic and completely described by a single function over time and the total available computational power.

The amount of cryptography and decentralization built in it are also appealing vs. threats of any central authority manipulating the former.


And that is the ONLY reason I am still uneasy with it as an alternate exchange medium to represent wealth transfer thru trade :

it doesn't, IMO, make any sense, any longer, to back it up with any of the legacy fiat currencies, including those not collapsing as fast as the US dollar does. Soon or late all are doomed and until then they are but a mere instrument of grand theft and large scale usury against the peoples who PRODUCE real wealth and who DESERVE real money.

Bitcoin could be a truly powerful gem if its proponents would agree once for all to back it up EXCLUSIVELY in terms of two parallel spots :

Bitcoin/gold and Bitcoin/silver.

There would be a tremendous opportunity for gold / silver / Bitcoin investors, merchants, and consumers to defeat quietly and ineluctably the central bankers once and for all, bringing them to their KNEES.

Please, Bitcoin : drop EVERYTHING but silver and gold to value yourself with, and the people WILL have more trust again.


"Cyril" pronounced "see real". I code stuff.


"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Breathe into the bag....

Of the 30 business related purchases I make every month, none can be purchased with bitcoins. Chips from a corner casino are a more universally accepted form of payment.

I almost never need unicorns or alpaca sox.

Years have gone by now and this doesn't seem to be expanding much.

Piling up bitcoins is silly if they don't buy anything you really want at the best price.

If it becomes the currency of drug deals, bitcoins may be killed because above ground users may not want to come under additional scrutiny from the myriad government agencies.

"Timid men prefer the calm of despotism to the tempestuous sea of liberty" TJ

Good Point

I am unsure of Bitcoin also. It does seem a viable alternative in some cases, and I will be looking into them further.

I would disagree with the assessment of its failure from being tied to drugs. Has that hurt the petro-dollar in any way? In fact, if they start using if for drug deals, that would actually stabilize the Bitcoin, and bring it into the big time. If it's safe enough for large drug transactions, it’s safe enough for me (no, I’m not a drug dealer). ;) I do wonder how they will roll one into a cocaine straw though. lol.

Just open the box and see

Bottom Line

Bitcoins can be created out of thin air. Buyer beware. There have also been instances where people have had their bitcoins stolen from hackers. If you choose to use bitcoin, that is your choice, and I approve of your choice to do so.

Bitcoins have never been hacked!

People did not encrypt their wallet and their computer/server was hacked and the coins transferred. It was human error no one has cracked the bitcoin algorithm

End The Fat
70 pounds lost and counting! Get in shape for the revolution!

Get Prepared!

Can you point us to some

Can you point us to some evidence of bitcoins being hacked? I seriously doubt it. No one has ever hacked PGP and the bitcoin algorithm is supposed to be even better.

End The Fat
70 pounds lost and counting! Get in shape for the revolution!

Get Prepared!

I question peoples commitment to the cause of Liberty

If they rather use Dollars than Bitcoins.

I understand we can not escape the use of dollars but we can severely limit us using it through bitcoins. If you rather deal in Dollars than Bitcoins and are trying to End the FED. Are you really trying to end the fed or just going through meaningless motions?

Lets see we're in a

Lets see we're in a depression with a looming dollar crash and we have a choice of a nontaxable non-traceable decentralized currency that can't be inflated can cut the banksters and government out of our lives. Cut off the purse strings for wars and deficit spending etc. etc.

Hmmmmmmm should be a no brainer here on the DP and this thread only has 5 up votes and a few comments. Wow... Amazing!

End The Fat
70 pounds lost and counting! Get in shape for the revolution!

Get Prepared!

Wow what idiots are down voting this?


End The Fat
70 pounds lost and counting! Get in shape for the revolution!

Get Prepared!

to the OP and anyone else who still doesn't get this right

Correct spelling:

Bitcoin (capital B, singular) - the open source software
Bitcoin (capital B, singular) - a peer to peer payment system
bitcoins (lower case B, singular/plural)- the digital currency within this payment system

Wow way to really win folks over

Wow way to really win folks over to bitcoin. I bet everyone just wants to jump on the bitcoin bandwagon after reading your post... Sigh!

Sort of reminds me of the how to pronounce linux argument, gee ya think we might have more important things to worry about...

End The Fat
70 pounds lost and counting! Get in shape for the revolution!

Get Prepared!

Seriously folks this is a

Seriously folks this is a window of opportunity here. If the DP cannot grasp this then what hope do we have?

End The Fat
70 pounds lost and counting! Get in shape for the revolution!

Get Prepared!

Quick Hit and Run

I did not read the article.

Please consider the concept of competition being a FORCE of nature as many individual people, naturally born human beings, each making the choice for something better instead of being forced to make a choice for something worse.

There has to be choices, like shopping at WalMart.

You see choice A, a thing.

You see choice B, the same thing.

The same thing is packaged by Brand X.

The same thing is packaged by Brand Y.

Brand X is twice the price compared to Brand Y.

Almost everyone shopping picks Brand Y because that is the FORCE of competition at work, naturally, logically, reasonably, in reality.

What if Bitcoin and PayPal and The Liberty Dollar and E-Gold, and Gold as money, and Silver as Money, and every other form of money is LEGAL?

Please get this, please get this, or please consider trying to get this, in your brain, instead of jerking your knee and refusing to see it.

If all those competitors were made Legal, or at the very least 2 competitors are made legal, then the IRS would accept payment in either/or competitor.

Those criminals at the false front "government" called U.S.A. Inc. (LLC), or The Dollar Hegemony, or The World Reserve Currency, or The World Bank (denominated in dollars), or the United Nations (denominated in dollars), or the Military Industrial Complex (denominated in dollars), or Wall Street (denominated in dollars), or Washington (denominated in dollars), those criminals, with those licenses to kill for money (denominated in dollars), with those licenses to kill for oil (denominated in dollars), with those licenses to torture for Monopoly Money Power (denominated in dollars), that they give to themselves, would inform their IRS employees, to accept both monies.


Please work with the number 3 in this case of an illustrative scenario - please - pretty please, with sugar on top.

Do that please, for a minute, before voting down the topic.

You are handed a fraudulent TAX from Central Bank Center, from the division known as Internal Revenue Service.

That is called a Federal Income Tax Liability.

If you can't recognize it, then look here, and you may then understand the meaning of a Federal Income Tax Liability:


Don't shoot me, I'm just the messenger.

Or go ahead and shoot me, but that won't stop them from giving you the bill.

So, instead of the bill handed to you denominated in only Dollars, what does competition do for you?

The IRS is told, by the people at Central Bank Center, to accept payments in 3 forms of money instead of just one.

Think back to the illustration of the person shopping at WallMart, and now there are 3 Brands on the shelf that will accomplish the same thing, and each Brand has a price on it.

You have a BILL, and you will pay that BILL, and you will do so without question. You WILL pay your Federal Income Tax this way or you will pay your Federal Income Tax another way, either way you WILL pay YOUR Extortion Fee.

So, instead of NO COMPETITION, now, you have 3 choices to pay your Federal Income Tax Extortion Fee.

Which 3?

Court fees, Fines, Prison
You resort to deceit, become that which you supposedly abhor, and you commit fraud to avoid paying tax

Oooooooops That is reality, sorry.

I am looking for a way to communicate to you the FORCE of competition instead of MONOPOLY CENTRAL BANK CRIME MADE LEGAL RULE.


The choices illustrated so as to illustrate the value of the FORCE of competition are:

Pay the Extortion Fee, honestly, in one of the following denominations of Legal Money:

Federal Reserve Notes
Utah State Gold or Silver Backed Money (or actual gold or silver)

So...put on your thinking caps, and think, and think in terms of Joe average person, shopping at WalMart, and having 3 things to choose from on the shelf, where prices are known, and a thing wanted is known, and the idea pops into your head, naturally, to pay less and get more.

If you can't grasp the concept of Legal Competition then you may be infected with the falsehood that there can be no such thing.

Poor, poor, poor, people.


If you did not read the

If you did not read the article why are you commenting? And WTF are you talking about?

End The Fat
70 pounds lost and counting! Get in shape for the revolution!

Get Prepared!

How about a deal?

You read, before jerking your knee.

I've read about Bitcoins, and I just read more of your words just now, so this is now not a Hit and Run.

Things worth their weight in gold, or exceeding their weight in gold, sell themselves.

We The People are on the verge of tipping over the Money Monopoly Cart, in a big way.

Does that compute?

I write in English, but I don't use the false words, so maybe that is the problem?