Origins of Bitcoin??? Who is changing the world of currency???

Let us get a collection of imagination and ideas of this topic here please, as the world of currency exchange as humans know it is literally being flipped on its head by a completely mysterious entity in Shatoshi Nakamoto. I will list some of my thoughts on the matter as an entry, but its fair to say that all angles of input have to be at least partially viewed as credible, because the mystery in facts exists. I just find it odd as all hell that the world is jumping onto a system that seems legit and logical, but is seemingly too important for people to stop and wait for Shatoshi to be exposed prior to self investments made into crypto. Anyway... off to my rabbit hole entry...

en.wikipedia.org...
Shatoshi means wisdom... ok. Next item please.

www.ancestry.com...

Nakamoto means central origin.

Combine the 2, and what do we come up with? Central Intelligence. Hmm... things just got interesting.

Okay, since we don't know who this person is and they are essentially more of a technology than a person, maybe we should look there? Bitcoin operates on an algorithm called SHA 256... SHA (Secure Hash Algorithm). Let's look at what entry level research of this tells us, shall we?

en.wikipedia.org...

Well, now my attention is on full alert here. It may be off base, but how do these surname meanings and the technologies all point to the CIA and NSA? A bit too much lines up here for me to ignore... I want to learn more.

socioecohistory.wordpress.com...[/exnew s]

www.newdawnmagazine.com...

Well, I am starting to be at a loss for words here, so its time to pass this conversation onto the ATS group I suppose. I look forward to the comments and will get involved with questions and thoughts when the talk starts to fizzle. Thanks for reading and maybe even contributing!

a reply to: ttobban

Interesting connecting of the dots.

a reply to: ttobban

Ive heard a theory that it is the creation of AI.
Incentive for humans to get involved and build more and better machines.

Just a theory but there we are.

a reply to: ttobban

Wow, great thread.

Could the CIA and NSA have created the entire crypto world because they can see the petro dollar is no longer a viable currency?

Can someone explain what mining actually is?

From what I understand, it is breaking encryption.

Sounds like using the weakness of greed to pool everyone's computers together to break the internet.

While creating a record of transactions that can't be erased.

Btw, sha 256 was made by the nsa.

a reply to: Mandroid7

Think of the digital universe as a landscape. On this landscape lays a grid called block chain technology. Block chain is essentially transparently building digital blocks. These blocks contain transaction data of digital currency, and its off to the block chain to be verified/built.

Mining is nothing but transaction verification or authenticating a transaction using computing power. It's expensive to mine and verify transactions. Smart contracts put on block chain eliminate all the middle men that get fees for stuff that is handled by computing power.

Another coincidence as a side note. The U.S. holds about 5% of the world's gold reserve. Shatoshi Nakamoto supposedly owns about 5% of all Bitcoin that exists. From that 2009 article, I bet it would just so happen to line up that the initial budget for the so called global currency sits at around 5% of the total crypto market cap.

Keep the good ideas flowing please... this stuff is very important to clear the air on!

a reply to: ttobban

I've been under the impression for quite some time that the unsustainable debt, bond and stock buyback programs and suppression of economic numbers (such as unemployment, inflation, etc.) would all come to a head sooner rather than later.

I thought 2017 would be the year for a large correction, but it just didn't happen. Even worse, the markets have gone even more crazy since the fall.

I think we may be in for a bumpy ride in the next 11+ months...

a reply to: ttobban

Yeah, it still doesn't make sense to me.

Why would massive computer power be needed just to verify and authenticate?

That would make all transactions too slow.

The youtube videos say mining is doing complex math and when it is solved you get a bitcoin.

Complex math, until it's solved sounds like cracking to me.

a reply to: Mandroid7

It's done on purpose to give mining the bitcoin and thus the bitcoin itself some sort of inherent value. In this case the value of computing power.

a reply to: Mandroid7

The block chain usage is what makes it transparent and the electrical power usage and pricey hardware is what removes the trust factor that fiat currencies rely on. It's a back door way not make it unnecessary to include a loan administrator, a lawyer, a bank, a licensing agency, etc. in the processes of commerce.

Whoever is using their electrical power/cloud power to mine is acting as the middle man of old, and ends up getting rewarded for assisting in the work of building a block.

Bitcoin is slow... it's the 1st generation. Etherium & Litcoin is the 2nd generation. There's platforms like Cardano that arre set up to pick up where Bitcoin stalls... getting easier and smarter as time goes, instead of getting bogged down.

Computers are doing the math... when I mine I am letting my cloud land be accessed for putting newly minted coins into the block chain. I just log on and press play... I let their resources be used and take a small fraction for what is already free to me. Adding to the mining network adds efficiency.

a reply to: ttobban

HOW TO MAKE A MINT: THE CRYPTOGRAPHY OF ANONYMOUS ELECTRONIC CASH

Laurie Law, Susan Sabett, Jerry Solinas
National Security Agency Office of Information Security Research and Technology
Cryptology Division
18 June 1996

groups.csail.mit.edu...

a reply to: Jubei42

I think the block chain grows longer the more (for example bitcoin) coins that are mined. In other words the 1st bit coin mining computer did not need to go through the huge amount of data because there was only one node (computer/server) in the block chain. As there are more nodes and a longer block chain it takes huge amounts of time and or power to do the equations. If I understand this process correctly.

And this makes the coin worth more, and when the 21,000,000 bitcoins are done being mined there are no more. Now this could lead to huge gains in bitcoin, but we are seeing for real competition to bit coin. Look for Ripple or eth to take the top spot this year.

In 1983 [David Chaum] suggested a fundamentally new kind of cryptography” that would enable a better form of money: third parties could not determine payee or the time or amount of the payment. Individual privacy and anonymity was guaranteed, as when paying cash at a gas station or in a drugstore. At the same time, individuals could provide proof of payment, and they could invalidate payments if someone stole their medium of payment, as when using old-fashioned credit cards.

Chaum combined the best of both worlds: the anonymity of cash and the security of plastic. The article that spelled out the idea became one of his most influential papers, Numbers Can Be a Better Form of Cash Than Paper.” But using this improved form of cash was not only about convenience and security. If crypto cash would not be adopted widely, Chaum feared, invisible mass surveillance” would be inevitable, perhaps irreversible.”

Chaum’s idea was magically simple and powerful. Steven Levy, a perceptive chronicler of the grand cryptography debate of the 1990s, called him the Houdini of crypto.” So powerful were Chaum’s ideas that an entire movement arose. That movement believed crypto was en route to making the state as we know it obsolete.

Many of these early cryptographers had been exposed to a powerful streak of American culture: civil libertarianism with its deep-seated distrust of the federal government — or of any government. Counterculture, with its focus on free speech, drugs, and sexual liberation, was constantly pushing the boundary of what was legal. Meanwhile, the NSA’s hysterical reaction to basic crypto scholarship amplified this hostility toward government in the emerging computer underground of the 1980s. So it was no coincidence that Bay Area cryptographers unearthed what would become one of the most potent political ideas of the early 21st century.

***

In mid-1988 ... May penned the Crypto Anarchist Manifesto,” whimsically modeled on another famous manifesto with revolutionary ambitions: The technology for this revolution — and it surely will be both a social and economical revolution — has existed in theory for the past decade,” May wrote, but only recently have computer networks and personal computers attained sufficient speed to make the ideas practically realizable.”

The possibilities were extraordinary. Two persons may exchange messages, conduct business, and negotiate electronic contracts without ever knowing the True Name, or legal identity, of the other,” May wrote in his manifesto, using capital letters in honor of his favorite science fiction author. Then May mobilized that most powerful American myth, the Frontier. Barbed wire, a seemingly minor technical invention, had enabled the fencing off of vast ranches and farms in the open rangeland of the West. Barbs on wire had altered forever the concepts of land and property rights in the frontier states, and it had caused the Fence Cutting Wars a century earlier. May sided with the wire-clipping cattlemen and cowboys. On the electronic open range, the barbed wire need not be accepted as immutable fact.

The comparison was odd, but it sounded powerful: Crypto was a game changer. It also emerged as a seemingly minor technical invention at first, from some obscure branch of mathematics. But this time, technology worked for freedom and liberty, and against those who wanted to build fences around their property. For May, crypto was like the wire clippers” that would dismantle the illegitimate fences around intellectual property. The federal government, he observed with horror, wanted to slow or halt the spread of this technology, and Washington justified the clampdown with vague references to national security. And yes, just as in True Names, criminals would abuse it and take advantage of the renewed liberties. But none of this would stop the rise of crypto anarchy, May knew. He ended his pamphlet with this battle cry: Arise, you have nothing to lose but your barbed wire fences.”

The Crypto Anarchist Manifesto” already contained the seeds of what would become a potent political ideology: technology itself, not humans, would make violence obsolete. May distributed his pamphlet electronically and in print among like-minded activists at the Crypto ’88 conference in Santa Barbara and again at the Hackers Conference that year. But something was missing. The message didn’t quite get out.

projects.csmonitor.com...

Crypto Anarchist Manifesto
A specter is haunting the modern world, the specter of crypto anarchy.

Computer technology is on the verge of providing the ability for individuals and groups to communicate and interact with each other in a totally anonymous manner. Two persons may exchange messages, conduct business, and negotiate electronic contracts without ever knowing the True Name, or legal identity, of the other. Interactions over networks will be untraceable, via extensive re- routing of encrypted packets and tamper-proof boxes which implement cryptographic protocols with nearly perfect assurance against any tampering. Reputations will be of central importance, far more important in dealings than even the credit ratings of today. These developments will alter completely the nature of government regulation, the ability to tax and control economic interactions, the ability to keep information secret, and will even alter the nature of trust and reputation.

The technology for this revolution--and it surely will be both a social and economic revolution--has existed in theory for the past decade. The methods are based upon public-key encryption, zero-knowledge interactive proof systems, and various software protocols for interaction, authentication, and verification. The focus has until now been on academic conferences in Europe and the U.S., conferences monitored closely by the National Security Agency. But only recently have computer networks and personal computers attained sufficient speed to make the ideas practically realizable. And the next ten years will bring enough additional speed to make the ideas economically feasible and essentially unstoppable. High-speed networks, ISDN, tamper-proof boxes, smart cards, satellites, Ku-band transmitters, multi-MIPS personal computers, and encryption chips now under development will be some of the enabling technologies.

The State will of course try to slow or halt the spread of this technology, citing national security concerns, use of the technology by drug dealers and tax evaders, and fears of societal disintegration. Many of these concerns will be valid; crypto anarchy will allow national secrets to be trade freely and will allow illicit and stolen materials to be traded. An anonymous computerized market will even make possible abhorrent markets for assassinations and extortion. Various criminal and foreign elements will be active users of CryptoNet. But this will not halt the spread of crypto anarchy.

Just as the technology of printing altered and reduced the power of medieval guilds and the social power structure, so too will cryptologic methods fundamentally alter the nature of corporations and of government interference in economic transactions. Combined with emerging information markets, crypto anarchy will create a liquid market for any and all material which can be put into words and pictures. And just as a seemingly minor invention like barbed wire made possible the fencing-off of vast ranches and farms, thus altering forever the concepts of land and property rights in the frontier West, so too will the seemingly minor discovery out of an arcane branch of mathematics come to be the wire clippers which dismantle the barbed wire around intellectual property.

Arise, you have nothing to lose but your barbed wire fences!

www.activism.net...

www.activism.net...

So my understanding is that encrypted blockchain technology has been in development for decades, but specific coins, like bitcoin are relatively new. My guess is the intelligence agencies created some of them most likely to pump and dump in the markets like we're seeing to dissuade people from thinking they are useful.

After you lose $20,000 grand on cryptos you're likely to think they're all a scam.

Be careful out there.

Shhh....with that NSA and CIA stuff.

I mean, if you think about it...if your goal is to make a world currency that you control....it's a good plan.
Ever since I first looked into it, I assumed this could always be the case.

Don't really care. If anything, my faith in it as the future of commerce is MORE restored, even if I dislike the big brother, NWO aspects of it. No reason I can't cash in on it though....

After you lose $20,000 grand on cryptos you're likely to think they're all a scam.

Will never happen. Soon as I'm up any decent amount, I'll cash some out at a good profit, leaving just as much in. After that, any amount left in is just playing money I never had before. If it goes up again, cash out some, rinse and repeat.

a reply to: SkeptiSchism

WOW... thank you for that post... it needs a thread of its own I'd say.

As I go through that link, I read about how the bank is the middle man, but then goes on to state that the term 'bank' does not necessarily mean bank as we know it. It uses the term 'bank' as whatever financial network humans are using.

5 One should keep in mind that the term "Bank" refers to the financial system that issues and clears the coins. For example, the Bank might be a credit card company, or the overall banking system. In the latter case, Alice and Bob might have separate banks. If that is so, then the "deposit" procedure is a little more complicated: Bob's bank contacts Alice's bank, "cashes in" the coin, and puts the money in Bob's account.

Now lets go through this crazy paper again. Except this time, lets replace the word 'bank' with the term 'AI'. The second I started doing that, the paper got EXTRA FREAKY!

Hell, that's pretty much Bitcoin's patent claims you shared... quite a game changer for me, that's for sure!

Anyone been able to cash out large sums of money from bitcoin though? Never hear stories about them, which strikes me suspicious.

a reply to: Mandroid7

Have a look here. iohk.io... Click on the 'explore 3d blockchain.' See each of those blocks? Each one gets validated by mining. In those blocks contains all of the writes to the ledger.