Making Sense of Crypto-Currency – Part I

“The few who understand the system, will either be so interested from its profits or so dependent on its favors, that there will be no opposition from that class.” Rothschild Brothers of London 1863

banking 1 small town bank

BANKING is one of the most controversial topics since before our country began. It is greatly needed if people want a safe place to store their valuables, either monetary or real. We go there for a myriad of reasons such as to borrow funds to add to holdings, to start up new companies, or buy property. It has become a necessary force of good or evil in everyone’s lives.

We choose banks often near our homes as a convenience, even though most do not have their home bases in the locality anymore. We do this as much for reassurance, as for quality and convenience. We count on regulating agencies and laws to monitor and control these entities in order to feel more secure in approaching and using their services.

At one time long ago, banks were locally owned with like-minded entrepreneurs looking for ways to grow their wealth and local residents needing a safe place to hide their dollars. Both benefited for as the banks grew so did a few ways grow for the average customer to make a bit of earnings on their hard-earned dollars. Banks evolved as any industry must do to continue to grow.

But, events over the years took a toll. Depressions, mismanagement, stocks, poor internal investments claimed many, until finally owners sold to bigger and bigger banking systems. Locally owned banks became a thing of the past as those banks sought faster, more complex ways to account to their shareholders and turn a better profit.

banking 2 big bankAs we have seen, a few now hold the accounts of many and not just in this country but around the world. Faster computers, more complex codes, shady or creative deals, like highly complex card games, have placed some of these banking giants in the “too big to fail” category–or at least the world believes this is true. Could these giants be reduced back to lower levels of holding and reduce the risk of a world-wide financial failure?

The banking world is peopled with number-crunchers, extremely talented risk takers, legal beagles and others. There is a darker side, one where competition, rumors, innuendos, and even at its darkest, murder abounds. Yet for all that, there are legal entities, government agencies, and private monitors which have had access to paper and computer records. Each has become adept and determined to trace events and records in order to monitor and bring to justice, if need be, those who attempt to abuse customers and government.

Banking, for all the grumbles and uproar has remained for the most part a vital and viable force for consumers and industry. We can see, feel, talk to someone living in our locality (mostly) and if needed talk to credit bureaus, state officials, or lobby congress about those in banking. Yet for all that, banking to the average consumer remains like a magician. With prestidigitation, slight-of-hand and a Carnie’s midway spiel, banks run our daily lives, help us plan for events, and provide for the world’s financial needs every minute of the day, week, or month. We have come to rely on them just like health providers and government.banking 3 computer banking

In the banking evolution of the last years, we are able to monitor online our own bank accounts and carry out other activities. We now can photo send checks directly to our account. Many other activities like credit and debit cards have made the need to carry those pesky, nasty coins and bills obsolete. Consumers and banks have embraced this enthusiastically. Paper trails amount to only computer printouts and bits of information allowing far less time-consuming audits or in some cases hiding the more nefarious uses or abuses of profit and industry.
With that has sprung up a new, more difficult and dangerous form of bank robbery.

banking 4 onlineWhere digits and personal data is mined for profit by hackers and shadowy villains. Banks are constantly revising and finding newer ways to entrap the elusive digital, nameless thieves. Governmental agencies are having to review, rewrite, and out-think at a pace that boggles and bogs down in their old systems. Villains find ways to skirt their efforts as fast, if not faster than those determined to bring them to justice. Yet for all that, there are paper trails and eagle-eyed defenders who can track them down.

 

“Whoever controls the volume of money in any country is absolute master of all industry and commerce.” James A. Garfield 1881, assassinated September 1881.

 

Enter the hyperactive computer generation whose agile minds and nimble fingers have created an alternate world out of thin air. They feed off the visions of others and energize random concepts into something the early science films could only imagine. They are responsible for an explosion of ideas and uses for older products and concepts through their vision and collaboration across waves of energy around the world in milliseconds rather than months.

It was inevitable that into this whirling cauldron of energy some visionary would pop up to challenge the banking industry. Enter the world of crypto-currency. First came the challenge of need, then actions, and finally the creation of a new language that befuddles the unenlightened and short-hands ideas for users.

banking 5 encrypted

I am as unenlightened as a dinosaur, therefore relying on others to make sense or add information on a concept which is far outside my comfort zone, but relatively familiar in workings of banking.

In part 2, I will be exploring the history of these currencies and try to make sense of them. By the end, I hope to have supplied enough facts so that others like me have at least a minimum of understanding of a phenomena that needs a great deal of professional monitoring and extremely cautious buy-ends by industry, retailers, and consumers.

Why do I do this you might ask? First, because knowledge is powerful and insightful if applied with a mature attitude. Second, because I am staggered and truly frightened by the opening of a door to one-world dominance by an industry needing an entire one-world government in order to run it. I see a great deal of capability for evil outweighing good intent both in the world of data and in our actual physical world. To help understand I will be relying heavily on online sites as well as legal determinations.

Next part – history and relevant “facts”.

–Uriel–

About Uriel

Retired educator and constitutionalist
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6 Responses to Making Sense of Crypto-Currency – Part I

  1. Hardnox says:

    Great topic Uriel. I’m looking forward to the next one.

    Right now the banks of the world are rearranging the deck chairs on the Titanic. The politicians are playing the music. Iceberg straight ahead…

  2. clyde says:

    Good post, Uriel, and thanks for pursuing this. Looking forward to the next part.

    • Uriel says:

      I know upace. This whole issue is unbelievable! That Anyone would willingly invest in this smoke and mirrors is unreal