I have no idea how crypto currency works, i just heard this from a caller on the Alex jones show tonight and was wondering if anyone else knows more information. I think this was an overlooked discussion on the show.
It's a protocol for storage and transfer of wealth (digitally). Similar to bittorrent which is used to distribute pirate films or Linux isos over peer-to-peer network but completely decentralized.
The three components are the blockchain, which is a distributed database holding all transactions ever made in some some form.
Miners who contribute with hashing to verify blocks added to the blockchain, this is to make sure that nobody cheats because there is no central authority to monitor and take accounts against cheats.
And finally the cryptocurrency itself, which is a key pair, public key to view transaction history and balance and a private key to spend funds. Once you send cryptocurrency you pay a small transaction fee to the miners, this encourage them to keep mining which keeps the network safe.
Difference from fiat currencies, like the USD or EUR.
Limited supply, Bitcoin will only ever have 21 000 000 coins
Market value, supply and demand dictates the price, hence not debt based, hence it'll recover after a crash, hence no requirement for constant growth
No authority can confiscate your funds as long as you control your private key
No one can see how much you own, unless you explicitly tell them which wallet is yours.
Here's what I think, they know that cryptocurrency will eventually defeat any digital currency any bank could possibly come up with. And they know that their fiat currency won't survive their depopulation plans. Hence "if you can't beat them join them".
This is why they are now trying to make their own cryptocurrencies, or writing dapps on existing chains for social credit and vaccine passports for instance. They don't want people to use already established cryptocurrencies, this is why they spread so much fud all the time.
They want you to go down with fiat once they drain the last pennies out of it, that way you have no other choice than licking their asses to gain social credit in order to buy food. So you'd better do some research and get your hands on at least some cryptocurrency.
I have no idea how crypto currency works, i just heard this from a caller on the Alex jones show tonight and was wondering if anyone else knows more information. I think this was an overlooked discussion on the show.
It's a protocol for storage and transfer of wealth (digitally). Similar to bittorrent which is used to distribute pirate films or Linux isos over peer-to-peer network but completely decentralized.
The three components are the blockchain, which is a distributed database holding all transactions ever made in some some form.
Miners who contribute with hashing to verify blocks added to the blockchain, this is to make sure that nobody cheats because there is no central authority to monitor and take accounts against cheats.
And finally the cryptocurrency itself, which is a key pair, public key to view transaction history and balance and a private key to spend funds. Once you send cryptocurrency you pay a small transaction fee to the miners, this encourage them to keep mining which keeps the network safe.
Difference from fiat currencies, like the USD or EUR.
Here's what I think, they know that cryptocurrency will eventually defeat any digital currency any bank could possibly come up with. And they know that their fiat currency won't survive their depopulation plans. Hence "if you can't beat them join them".
This is why they are now trying to make their own cryptocurrencies, or writing dapps on existing chains for social credit and vaccine passports for instance. They don't want people to use already established cryptocurrencies, this is why they spread so much fud all the time.
They want you to go down with fiat once they drain the last pennies out of it, that way you have no other choice than licking their asses to gain social credit in order to buy food. So you'd better do some research and get your hands on at least some cryptocurrency.