Role of Crypto/Cybercurrencies in the PTB's loss of control?

Menna

The Living Force
I am sorry. I realize that I obviously came across as angry or somethin. I am not. And things like climate change I did only add because there IS also a hidden agenda, as well as in crypto, and in "health" (Holmes, Gates), and as in computing in the wider sense (Musk, Gates, Bankman). I did not intend to offend!

maybe i should add that I am german, so english is not my mothertoungue and maybe a little clumsy. I am sorry.
My only point is that Musk and Gates created things that work and do have some value in current day(This does not make them good or bad)...Thoranos and Sam not so much. Its not black and white that everyone here mentioned is the same but I do get your point that there are agendas behind the curtain. I also wanted to point out that I did not say anywhere that these things give life meaning but remember we do live here on earth and paypal or cars or computer tech does HELP people get things done to live in societies and on a planet that we are forced to live in is my point...Musk and Gates tech giving meaning not so much the tech giving us tools that we can choose to use to get things done faster so we can spend more time with family or other more esoteric pursuits...yes...Are there hidden agenda behind tools that are given that help...also YES!!!! they need you using for their own info gathering...Something can be useful and have a hidden agenda at the same time we are on Earth (3D STS) thats the majority of dynamics here no???

In my experience its rare that you use something useful... engage with it and on some level it doesn't take from you at all...Let me know if you come across this lets create a thread. "Things that provide value that want absolutely nothing from you" - Ill go first... The Sun
 
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axj

The Living Force
If there are no exchanges there is no value as there is no offramp into fiat of your country.
There will most likely always be ways to convert crypto into real-world goods or fiat. Even if a country completely bans crypto, you can still convert it through other countries, including directly buying gold and silver with crypto.

It can of course get much more difficult in countries that ban cash and force everyone to use the totalitarian CBDC's instead. Whether people will actually accept that is a big question mark. I think that this may actually be one of the main reasons people will start resisting in earnest.

CIA created Bitcoin for reconnaissance and counter intelligence
The thing is, even if Bitcoin was created by the cabal it does not necessarily mean that they can fully control it. There are also crypto projects like Monero that are completely anonymous and more or less the actual equivalent of cash.
 

Menna

The Living Force
There will most likely always be ways to convert crypto into real-world goods or fiat. Even if a country completely bans crypto, you can still convert it through other countries, including directly buying gold and silver with crypto.
And then pay your mortgage or buy a car in gold or silver? Yes, sure ppl may always exchange valuable metals or antiques for crypto and then to make that useful in society you have to engage in a transaction again to sell metals or Antiqes. If you can’t sell and exchange for paper money that is accepted readily by many institutions then the crypto industry becomes even less practical and slower by orders of magnitude as a use case in society I believe
 

Menna

The Living Force
The thing is, even if Bitcoin was created by the cabal it does not necessarily mean that they can fully control it. There are also crypto projects like Monero that are completely anonymous and more or less the actual equivalent of cash.
Recon and intelligence is not strictly about full control it is information gathering and with that you can shape, mold, avoid or attempt to fully control something. The powers at B don’t FULLY control an individually but with the info and resources they have they sure do a great job of quarter controlling people and or molding, manipulation, molding, guiding… Full control requires the thing trying to control to be too overt…Thats not the CIAs style. And the Cs said CIA created Bitcoin however their correct rate I believe is 80+% or so because things are consistently changing and dynamicing my comments are based on what they said being true.
 

axj

The Living Force
If you can’t sell and exchange for paper money that is accepted readily by many institutions t
Major fiat currencies are already experiencing high inflation due to too much printing and this will most likely get worse, possibly into hyperinflation and collapse of currencies over the next years. That is one of the reasons why cryptocurrencies may become viable alternatives.

When the totalitarian CBDC's come out, I think that a lot of people will refuse to participate in that system. It may even get to the point where the “official“ economy becomes smaller than the “inofficial“ one.

But it is difficult to make any predictions.
 

Honzap

Padawan Learner
The most surprising thing is that people think crypto is actually good for the monetary system. OK, but you know it is literally based on nothing, not even GDP...nothing.

- it is easy to track...
- you know who has what, where, how much...
- yes, it can be lost...(but that`s a bonus)

And the best part for the last. Blockchain is the holy grail of control.
 

hlat

The Living Force
FOTCM Member
Vox reporter Kelsey Piper – who interviewed Bankman-Fried through direct messages on Twitter – said to the former FTX CEO, "You were really good at talking about ethics for someone who kind of saw it all as a game with winners and losers."

SBF responded, "Ya, hehe. I had to be, it's what reputations are made of, to some extent. I feel bad for those who get f***ed by it. By this dumb game we woke westerners play where we say all the right shiboleths [sic] so everyone likes us."

When asked if his "ethics stuff" was "mostly a front," SBF replied, "Yeah. I mean that's not all of it but it's a lot."

In the summer, SBF said that companies should not engage in unethical practices. However, when pressed by the Vox reporter, he admitted, "Man all the dumb s**t I said."

Speaking about investors focusing on Environmental, Social, and Governance (ESG), he declared, "ESG has been perverted beyond recognition."

SBF exclaimed, "F*** regulators. They make everything worse. They don't protect customers at all."

Bankman-Fried said it was "never the intention" to squander away investors' money, but "sometimes life creeps up on you."

"I f**ed up big multiple times," he added.

FTX founder Sam Bankman-Fried admits masquerading as 'woke Westerner,' says ESG has been 'perverted beyond recognition,' reveals biggest regret

PAUL SACCA November 17, 2022

Sam Bankman-Fried, the founder of collapsed cryptocurrency exchange FTX, revealed that the woke appearance that he and his company displayed was all a "dumb game." In a new interview, Bankman-Fried confessed that the fake window dressing of altruism was mostly a front and that the performance was done "so everyone likes us."

The collapse of FTX
FTX CEO Bankman-Fried saw his company collapse on Election Day. The 30-year-old also saw his net worth of nearly $16 billion wiped out in days.

Until last week, FTX was the world’s second-largest cryptocurrency exchange and was valued at $32 billion in February. However, the digital coin exchange filed for bankruptcy last Friday after a failed takeover by rival Binance.

In addition, between $1 billion and $2 billion in customer funds reportedly vanished from the FTX cryptocurrency exchange.

Investigations into FTX have been launched by the Securities and Exchange Commission and the Department of Justice.

Sam Bankman-Fried was a Democrat megadonor

Bankman-Fried was a Democrat megadonor. He reportedly contributed more than $5 million to Joe Biden in the 2020 presidential campaign. He was the second-biggest individual donor to Democrats in the 2021-2022 election cycle – donating $37 million. In May, Bankman-Fried said he planned to donate "north of $100 million" to Democrats in the 2024 presidential election, but pledged to have a "soft ceiling" of $1 billion in donations to Democrats if former President Donald Trump ran again.

SBF became the biggest donor to the Democratic Protect Our Future PAC that only launched in May. Gabe Bankman-Fried, SBF's brother, who handles the billionaire's political operations, declared that the PAC was formed to "stop the next pandemic."

In February, the Bankman-Fried brothers gave a $5 million grant to ProPublica to financially "support investigations into ongoing questions about the COVID-19 pandemic, biosecurity and public health preparedness."

SBF ties to the WEF, Clinton Initiative, and New York Times
Until this week, FTX was promoted on the World Economic Forum's website.

In May, SBF was one of the featured speakers at World Economic Forum 2022 in Davos, Switzerland. Topics at the event included sustainability, diversity, equity, inclusion, cryptocurrency, and Web 3.0.

In September, Bankman-Fried was a featured speaker at the annual meeting for the Clinton Global Initiative. The event covered subjects such as vaccine development, the implications of climate change, and transforming philanthropy for "equity, justice, and impact."

SBF is slated to be a featured speaker at a summit hosted by the New York Times on Nov. 30, along with BlackRock CEO Larry Fink, New York City Mayor Eric Adams (D), and Ukrainian President Volodymyr Zelenskyy. Tickets for the event cost $2,499.

Bankman-Fried claimed he was an 'effective altruist,' and the media fawned over him
Bankman-Fried, a self-proclaimed “effective altruist," was hyped up by the media.

CNBC investment personality Jim Cramer championed SBF as "the JP Morgan of his generation."

"Shark Tank" star investor Kevin O'Leary previously said of FTX, "If there's ever a place I could be, that I'm not going to get in trouble, it's gonna be at FTX."

CNBC reporter Kate Rooney lauded Bankman-Fried as the "Michael Jordan of crypto."

Bloomberg previously said of the FTX founder, "Sam Bankman-Fried drives a Corolla, sleeps on a beanbag, and has a Robin Hood-like philosophy."

SBF admitted masquerading as 'woke Westerner'
In a new interview, Bankman-Fried confessed that he used his virtuous stances as a front to win the game.

Vox reporter Kelsey Piper – who interviewed Bankman-Fried through direct messages on Twitter – said to the former FTX CEO, "You were really good at talking about ethics for someone who kind of saw it all as a game with winners and losers."

SBF responded, "Ya, hehe. I had to be, it's what reputations are made of, to some extent. I feel bad for those who get f***ed by it. By this dumb game we woke westerners play where we say all the right shiboleths [sic] so everyone likes us."

When asked if his "ethics stuff" was "mostly a front," SBF replied, "Yeah. I mean that's not all of it but it's a lot."

In the summer, SBF said that companies should not engage in unethical practices. However, when pressed by the Vox reporter, he admitted, "Man all the dumb s**t I said."

Speaking about investors focusing on Environmental, Social, and Governance (ESG), he declared, "ESG has been perverted beyond recognition."

SBF exclaimed, "F*** regulators. They make everything worse. They don't protect customers at all."

Bankman-Fried said it was "never the intention" to squander away investors' money, but "sometimes life creeps up on you."

"I f**ed up big multiple times," he added.

SBF said his biggest regret was FTX filing for bankruptcy. He believes that "everything would be 70% fixed right now" if he hadn't declared bankruptcy. He calls the bankruptcy his "biggest single f***up."

Bankman-Fried said if he could do it all over again, he would have "more careful accounting" and separated his hedge fund Alameda Research from FTX.

The new CEO of FTX said he has never seen such 'complete failure'

John Jay Ray III – a bankruptcy expert with more than 40 years of restructuring experience who liquidated Enron – was appointed the CEO of FTX.

In a filing with the U.S. Bankruptcy Court for the District of Delaware, Ray said, "Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here."

"In the Bahamas, I understand that corporate funds of the FTX group were used to purchase homes and other personal items for employees and advisors," Ray wrote in a 30-page document. "I understand that there does not appear to be documentation for certain of these transactions as loans, and that certain real estate was recorded in the personal name of these employees and advisors on the records of the Bahamas."

Bankman-Fried is reportedly selling his Bahamian penthouse dubbed "the Orchid" in the exclusive private community of Albany, located in Nassau, for nearly $40 million.
 

axj

The Living Force
The most surprising thing is that people think crypto is actually good for the monetary system. OK, but you know it is literally based on nothing, not even GDP...nothing.

- it is easy to track...
- you know who has what, where, how much...
- yes, it can be lost...(but that`s a bonus)

And the best part for the last. Blockchain is the holy grail of control.
If you use anonymous cryptocurrencies like Monero, nobody can track anything. And even with Bitcoin, they need to find out who owns what wallet address - which can also be prevented.

Cryptocurrencies have many advantages too, such as making banks and central banks potentially obsolete. That is also the reason why the owners of the banking and central banking system will most likely try to “crush“ decentralized cryptocurrencies at some point, or try to impose heavy regulations.
 

Menna

The Living Force
Major fiat currencies are already experiencing high inflation due to too much printing and this will most likely get worse, possibly into hyperinflation and collapse of currencies over the next years. That is one of the reasons why cryptocurrencies may become viable alternatives.
My point is that it is very hard and slow to pay for every day life things in crypto thus if you get rid of an off-ramp into everyday medium of exchange money then it hurts the industry… collapse and such is not a month or so away it’s years so at our current timeline fiat or plastic (credit cards) helps ppl engage in commerce…I agree with the if then statements that may happen in the future hence why crypto is popular now
 

axj

The Living Force
My point is that it is very hard and slow to pay for every day life things in crypto
Most cryptocurrencies are faster than Bitcoin, some take just a second or less for payments. There are also credit cards that have crypto wallets and automatically convert the crypto holdings into fiat currency on each purchase.
 

Honzap

Padawan Learner
Food for thought. Who gets to play in the big fish pond? Meaning, big tech companies and big banks do not allow just anybody to cut into their profits. Never have, are not and will not. Literally you don`t get to play without a pay. What would the pay in terms of crypto be? Maybe a level of control, hierarchically superior privileges in the system, etc.
So the algorithms a specific crypto is using may be the best in the world, ditto to the security, you still have to pay to be allowed to the big game table.

If the charade is true (we will find out in next few weeks) then all bets are off.

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Now out of curiosity I have checked my work contract. It gives you the usual stuff, job description, work hours and salary. Well the devil is in details. Nowhere it says how am I going to be paid. In coins? In bills? In checks? Direct deposits to the bank? Nope. Not a word.

How many companies do reimburse their employees in cash? Few and the number grows smaller every day.
Big tech and big banks already work on digital solution. Seeing the above, they are in beta testing phase right now. So one day we will wake up into a brave new world. An email will be waiting for us in our mailboxes changing the EULA for our bank accounts. Then one more even shorter email with your new password to your new digital existence created by the big tech, and game is over.

Pls excuse me being overly pessimistic. It may be the bronchitis and the meds I am taking to fight the critter at the moment.
 

Natus Videre

Jedi Council Member
How many companies do reimburse their employees in cash? Few and the number grows smaller every day.
Big tech and big banks already work on digital solution. Seeing the above, they are in beta testing phase right now. So one day we will wake up into a brave new world. An email will be waiting for us in our mailboxes changing the EULA for our bank accounts. Then one more even shorter email with your new password to your new digital existence created by the big tech, and game is over.
I think they will bundle our "collective bankruptcy" with another makeshift "catastrophic" event that will justify the reinitialization of the world. Suddenly rolling out a new system without the populace demanding it would backfire big time. Maybe this time it will backfire anyway due to Earth Changes.
 

hlat

The Living Force
FOTCM Member
Crime in progress, in plain sight.

You guys catch this other tidbit? "The Office of Foreign Assets Control (OFAC) can sanction the address where they are holding the hacked ETH and thereby make the ETH worthless... As 76% of validators (and rising) enforce OFAC sanctions". This shows it's wishful thinking that crypto is outside their control.

FTX Hacker Starts Dumping Massive Haul Of Ether Tokens
BY TYLER DURDEN
SUNDAY, NOV 20, 2022 - 01:00 PM

Last weekend, we reported on the mysterious $662 million outflow of tokens that suddenly hit FTX.

At the time, Nansen's Alex Svanevik said, "It's unclear exactly who's making the transactions, but you wouldn't expect to see these on-chain trades at this time."

He said FTX's main wallet was entirely drained of FTT.

Additionally, Reuters reported that SBF had a "backdoor" in FTX's book-keeping system, which allowed him to move customer money around without triggering internal compliance or accounting red flags.

During the week, more details came out that suggested at least some of this outflow was in fact an apparently sanctioned transfer from FTX to Bahamian regulators - who rejected the exchange's US bankruptcy filing and took possession of some of the assets.

"[There is] credible evidence that the Bahamian government is responsible for directing unauthorized access to the Debtors' systems for the purpose of obtaining digital assets of the Debtors—that took place after the commencement of these cases," read the filing, signed by new FTX CEO John Ray, famous for handling the liquidation of Enron.

The company went on to say that its co-founders Sam Bankman-Fried and Gary Wang were recorded saying that Bahamanian regulators instructed the pair to make "certain post-petition transfers" and that such assets were "custodied on FireBlocks under control of [the] Bahamian government."

However, although initial reports suggested that all of the funds in question might be in the custody of securities regulators in the Bahamas, Chainalysis poured cold water on this theory however, stating:

“Reports that the funds stolen from FTX were actually sent to the Securities Commission of The Bahamas are incorrect. Some funds were stolen, and other funds were sent to the regulators.”
And as Bloomberg reported earlier in the week, the hackers who stole the funds have become one of the world's largest holders of the Ether token.

According to security specialists PeckShield, a wallet linked with the exploit swapped about another $49 million of stablecoins - mainly Dai - for Ether on Tuesday. That lifted the attacker’s Ether haul to 228,523 or about $288 million - the 35th largest stash of the coin, according to data from analytics platform Etherscan.

The hacker reportedly transferred some funds using the crypto exchange operated by Kraken, which said it had been in touch with law enforcement about the matter.

But now, as Coinpedia.org reports, the FTX hacker has begun to liquidate those holdings creating significant downward pressure on Ethereum's price.

As PeckShield further detailed earlier today, the FTX hacker is swapping ETH for BTC via renBTC bridge protocol...

You can monitor the FTX Hacker's moves here...

Notably, renBTC liquidity is not deep enough for the FTX Hacker to dump all his ETH. If renBTC minting is disabled, the liquidity can’t be refilled, so the hacker may speed up.

Which is perhaps why, as @kamikaz_ETH notes, the FTX Hacker is now steadily dumping ETH on-chain - which is why we are seeing the sudden purges in Ethereum's price.

This could be a problem for ETH as if 50k ETH drove the drop from $1220 to $1160, the remaining 200k ETH could do some more serious damage to price.

FTX itself has tweeted to urge exchanges to block these transfers from the FTX Hacker...

Finally, one source suggested that perhaps the FTX Hacker realized that The Office of Foreign Assets Control (OFAC) can sanction the address where they are holding the hacked ETH and thereby make the ETH worthless...

As 76% of validators (and rising) enforce OFAC sanctions - accordingly they wouldn't include ETH transactions from sanctioned addresses...

Hence the sudden urgency to discard the ETH for bitcoin via RenBTC bridge ...

Probably they had a tip off that OFAC is planning to do this tomorrow...

Now who would have the political connections with the administration to know that info in advance?
 
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