'Bitcoin bomb may blow up banks' bondage, hence US attacks'



the Bitcoin system was developed by an unknown programmer barking 2009 to take part users download and online wallet onto a computer or mobile device they then get an address for this wallet from which they transfer bitcoins to the wallet of another user actually for free usually for free and without the supervision of any banks the whole transfer process is encrypted to prevent the money from being stolen the currency can then be exchanged into hard cash or used in a growing number of stores that accept them to buy goods and services the total number of coins that can ever be creative is limited by the original program design 221 million and now amid turkey a Bitcoin software developer is with us right now live from London Amy turkey thank you very much indeed for a time for being about here you actually at the heart of the Bitcoin system and dough can you explain to us how it works the whole system and why anyone would want to take part in it yeah why it's I can't explain it in like under a minute but the basic gist of it is that there is this network of people worldwide and any person that joins to the Bitcoin network is responsible for upholding it the bitcoin is actually a form of money like the dollar euros or pounds but it's virtual currency in the internet this type of currency which is not overseen by central banks or governments or states and there's no restrictions on how you can use you can send it to anyone anywhere in the world like a person in download Bitcoin software get set up within five minutes and start accepting payments from Iran or North Korea its proper free trade not the not the fake kind where you need to register corporations or special companies and then your shoutout the market because of regulations no its kind of money where anybody in the world can participate it might be alright in the west where anybody can set up her account and get a visa or mastercard but it's not the same like PayPal alone is blocking access from over 60 different countries worldwide bitcoin doesn't have any of these restrictions or limitations and the payment system is used as a political tool to shut down speech on the internet and that's why the bitcoin is so important yeah probably it is but it's still too many people like me for example the whole system the whole Bitcoin idea it seems to be very complex how do we know that it's saved how can we trust it actually the Bitcoin system i think is really simple system because it's based off this concept open source so i can download the source code for bitcoin and you can read through it and you know like how someone can speaks French or Spanish or English I can read source code and I can read the source code and see that it does exactly what it says it does it's something really powerful where I have Bitcoin sort on my computer and I send it over the Internet direct to someone without any middleman whatsoever using software that I wrote myself completely when I have a bank account I don't know what happens in that bank account I don't know who is dealing with or all the middlemen in institutions there with bitcoin is none of that it's total control over your money and as we heard the US government has raided a business involved in Bitcoin transactions could it stop Bitcoin altogether if it was determined to do so no and this is actually great news because so far they've been moving overtly in the shadows who know pushing Bitcoin here and now and this is the first time they've actually played their hand and she made a move against Bitcoin that's actually out there in the public and so you bitcoin is is some is at all which threatens the powers of all of these institutions the are have the economy rigged against them yesterday I was in Canary Wharf and there's there's Easter police and they have they're not even real police they look like police they dressed like police but they're not their security guards and they were going around two rushing us when we were going to the FCA toss about questions and it's like the whole thing is is that they will make moves against Bitcoin and because it does frettin this power that they have this monopoly they have over the economy but bitcoin is at all which if done right it can't be censored you can't stop people like doing trade of each other its proper tool for free trade the I've been saying for a long time that we need to build Bitcoin in the underground market and things like this have just happened in the u.s. prove this is that this is true we need a foundation for Bitcoin and and the underground economy does not mean only drugs or guns or wet but it means normal things like people doing trade with each other local businesses sending goods to each other and trading and there is a lot more to the underground economy than just the common picture thats painted out there it's it's something which allows people to progress and allows people to to actually create the kind of welfare and business sir all right should be possible in a truly free market I mean thank you very much and it it's really interesting indeed thanks for sharing your ex-husband with us thank you

29 thoughts on “'Bitcoin bomb may blow up banks' bondage, hence US attacks'”

  1. Give me the power to issue global currencies and I will set all men free with Infinitology and Freenomics through the Infinite Freedom Foundations.

  2. And like sheep, people will believe the dumbasses against bitcoin and start trying to destroy it in any way possible….

  3. You guys should check out this EXTRAORDINARY website called FIREPA.COM . You can make money online and start working from home today as I am!

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  4. ofc it does. unlimited it doesn't mean there is no specific number in it, in this case it means you can type any number in it as many times you want when you need it.

  5. This guy makes a lot of sense. Therefore he will likely be squelched and possibly assassinated for saying too much, as truthful as it is. Respect to such a fearless, ingenuitive trail blazer! Hope his effort is not in vain.

  6. Actually, transaction fees only make up a small percentage of the block reward for miners at this time. When a block is solved, 25 bitcoins are created (out of thin air, if you'd like) in the process, these are NOT tx fees.

  7. bitcoin mining isn't creating money out of thin air… the bitcoins you get from mining is a transaction fee charged to the sender. And you get this transaction fee for helping decode a "block" which helps keep people from double spending. Mining is just earning the fee from a transaction youre over seeing.

  8. High street shops need to accept Bit coin to enable it to work long term. This could be the answer to the prevention of human greed.

  9. You seem to understand more than when you posted your first post so I'll give you the benefit of the doubt in that you are genuine and not trolling. I should correct you that Bitcoin has not ever been hacked. Exchanges, services and individuals have been many times – but would you blame gold for being stolen if people left it lying around unprotected? You should also say 'the risk *for me* outweigh benefits'. Others are not as risk averse otherwise it would not remain valued at > $100/btc.

  10. The whole reason the private bankers want to shut down bitcoin is because they cannot control it.

    To me, that alone is a sign that its something good. I wonder if there's some way to link bitcoin to gold. That would give bitcoins intrinsic value – the one thing its missing.

  11. US government is trying to take down the main bitcoin exchange.

    If it succeeds, I predict the private bankers will setup their own bitcoin exchange so they can rig the bitcoin exchange market and try to destroy it.

    Beware of which exchange you trust.

  12. i see bitcoin as a freedom, as he said if the government or banks don't like you your money has no value & it's an unstable platform in banks with banks being mismanaged & shutting down. the governments do fear it because if you undermine the source of power which has been monetary control since the egyptians, then the governments no longer have true power. they become equal & undermined of their control over trade & monetary value the status quo will stop in the next 30 years watch & see.

  13. Well, it sure beats having to send money via Pay Pal or some other way where they all take a cut from the money you send… I would be interested in the value of Bit coin, and by what standard it gets it's value from!! Once that is established, and I am thinking it is still valued via the dollar… but I am hoping that there can be no inflation from it… that whatever standard it was based on does not fluctuate like the dollar or other currencies do when they print money out of thin air…

  14. Why didn't they say how you get them or anything? Do you use real money to buy them then you have online credits? Or how are they worth anything? Why don't people explain things properly. He wanted to say more but couldn't

  15. It's safe because it has been around for four or five years and no one has figured out a way to "forge" bitcoins, meaning insert unapproved bitcoins into the network.

  16. in your country you tell me watch out for certain men i tell you go london you dont trust these men ok he talk about secret police but his people have viglante sercet police too with there own laws and they mostly target british women these men are vile sick creatures dont trust a muzzie ever

  17. look at that we agree. – the answer is to work towards a better design but yes , stop participating in a system that is killing you .

  18. lol Okay that was an intelligent comment, very good. Yes at the moment Bit and others are better than reserve notes in some ways, but the bully can still take out lunchmoney if he wants to, I think instead of trying to circumvent the bully we need to gang up on him and run him out of town. We won't see progress till we do IMHO.We'll have to weaken him first by not incurring any new personal debt, using banks and money as little as possible. Barter & trade, force deflation and pop the bubble?

  19. yeah he's just an idiot ASIC owner , try to spam the site – don't worry there’s only about 12 of them, just like the Federal Reserve board of governors .

  20. LOL he had all the answers , except , if the attractive and beautiful RT host had of said "how can i get some Bitcoin?" …… long pause ……..stutter…….ah……caught off guard …..well let me tell you about a company called BFL……. ha ha ha ha ! fail.

  21. maybe you need to go back to school then and get some more education then? – they flaw is not in any code it's in the human greed. tell me how the Salsa function is flawed? go home.

  22. Sounds safe as or safer than any other currency, plus it takes the parasitical banksters out of the pictures so GO BITCOIN!

  23. The idea of Currency – Legal/ Tender is to be the oil that allows transactions of goods and services, this is the true idea of "money" – if that "money" is horded or not distributed – then it does not benefit the people that supposed to support it – you have to share the love when it comes to "currency" not be a greedy little Bitcoin Communist.

  24. Bitcoin will kill itself with greed – not enough of the general human community benifit from Bitcoin , as most of the Bitcoin was/is being mine by a small amount of people, this mean MR Bitcoin developer there basically becomes the "bank" issues the currency he so supposedtly loathes – look out for a currency that is truly community. We/I are working on it. we hope everyone can have at least some.

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