Flatten the Curve. #18. The current cold war between China and America explained. And how China was behind the 2008 Wall Street financial Crash. World War 3 is coming.
China, the USA, and the Afghanistan war are linked. And in order to get here, we will start there. 9-11 happened. Most of the planet mistakenly understood terrorists had struck a blow against Freedom and Capitalism and Democracy. It was time to invade Afghanistan. Yet all of the terrorists were linked to Saudi Arabia and not Afghanistan, that didn't make sense either. Yet they invaded to find Bin Laden, an ex CIA asset against the Soviet Union and it's subjugation of Afghanistan. The land in the middle of nowhere in relation to North America and the West. It was barren. A backwater without any strategic importance or natural resources. Or was there? The survey for rare earth elements was only made possible by the 2001 U.S. invasion, with work beginning in 2004. Mirzad says the Russians had already done significant surveying work during their military occupation of the country in the 1980s. Mirzad also toes the line for U.S. corporations, arguing, “The Afghan government should not touch the mining business. We have to give enough information to potential investors.” Rare Earth Elements. The elements that make the information age possible. People could understand the First Gulf War and the Geopolitical importance of oil. That was easy, but it still didn't sound morally just to have a war for oil. It was too imperialist and so they fell in line and supported a war for Kuwaiti freedom instead, despite the obvious and public manipulation at the UN by Nayirah. This is some of her testimony to the Human Rights Council. While I was there, I saw the Iraqi soldiers come into the hospital with guns. They took the babies out of the incubators, took the incubators and left the children to die on the cold floor. It was horrifying. I could not help but think of my nephew who was born premature and might have died that day as well. After I left the hospital, some of my friends and I distributed flyers condemning the Iraqi invasion until we were warned we might be killed if the Iraqis saw us. The Iraqis have destroyed everything in Kuwait. They stripped the supermarkets of food, the pharmacies of medicine, the factories of medical supplies, ransacked their houses and tortured neighbors and friends. There was only one problem. She was the daughter of Saud Al-Sabah, the Kuwaiti ambassador to the United States. Furthermore, it was revealed that her testimony was organized as part of the Citizens for a Free Kuwait public relations campaign, which was run by the American public relations firm Hill & Knowlton for the Kuwaiti government (fun fact, Hill & Knowlton also have extensive ties with Bill Gates). So the public was aghast at her testimony and supported the war against the mainly Soviet backed, but also American supported and Soviet backed Saddam Hussein, in his war against Iran, after the Iranians refused to Ally with American interests after the Islamic Revolution. But that was oil, this was Rare Earth Elements. There was a reason the war was called, Operation Enduring Freedom. This natural resource was far more important in the long run. You couldn't have a security surveillance apparatus without it. And what was supposed to be a war on terror was in actuality a territorial occupation for resources. Sleeping Dragon China is next, and where there's smoke, there's fire. Let's go point form for clarity. • China entered the rare earth market in the mid-1980s, at a time when the US was the major producer. But China soon caught up and became the production leader for rare earths. Its heavily state-supported strategy was aimed at dominating the global rare earth industry. • 1989 Beijing’s Tiananmen Square spring. The U.S. government suspends military sales to Beijing and freezes relations. • 1997. Clinton secures the release of Wei and Tiananmen Square protester Wang Dan. Beijing deports both dissidents to the United States. (If you don't understand these two were CIA assets working in China, you need to accept that not everything will be published. America wouldn't care about two political activists, but why would care about two intelligence operatives). • March 1996. Taiwan’s First Free Presidential Vote. • May 1999. America "accidently" bombs the Belgrade Chinese Embassy. • 2002 Price competitiveness was hard for the USA to achieve due to low to non-existent Chinese environmental standards; as a result, the US finally stopped its rare earth production. • October 2000. U.S. President Bill Clinton signs the U.S.-China Relations Act. China's take over of the market share in rare earth elements starts to increase. • October 2001. Afghanistan war Enduring Freedom started to secure rare earth elements (Haven't you ever wondered how they could mobilize and invade so quickly? The military was already prepared). • 2005. China establishes a monopoly on global production by keeping mineral prices low and then panics markets by introducing export quotas to raise prices by limiting supply. • Rare Earth Elements. Prices go into the stratosphere (for example, dysprosium prices do a bitcoin, rocketing from $118/kg to $2,262/kg between 2008 and 2011). • In a September 2005. Deputy Secretary of State Robert B. Zoellick initiates a strategic dialogue with China. This was presented as dialog to acknowledge China's emergence as a Superpower (which China probably insisted on), but it was about rare earth elements market price. • October 2006. China allows North Korea to conduct its first nuclear test, China serves as a mediator to bring Pyongyang back to the negotiating table with the USA. • September 2006. American housing prices start to fall. (At some point after this, secret negotiations must have become increasingly hostile). • March 2007. China Increases Military Spending. U.S. Vice President Dick Cheney says China’s military buildup is “not consistent” with the country’s stated goal of a “peaceful rise.” • Mid-2005 and mid-2006. China bought between $100b and $250 billion of US housing debt between mid-2005 and mid-2006. This debt was bought using the same financial instruments that caused the financial collapse. • 2006. Housing prices started to fall for the first time in decades. • Mid-2006 and mid-2007. China likely added another $390b to its reserves. "At the same time, if China stopped buying -- especially now, when the private market is clogged up -- US financial markets would really seize up." Council on Foreign Relations-2007 August • February 27, 2007. Stock markets in China and the U.S. fell by the most since 2003. Investors leave the money market and flock to Government backed Treasury Bills. I've never seen it like this before,'' said Jim Galluzzo, who began trading short-maturity Treasuries 20 years ago and now trades bills at RBS Greenwich Capital in Greenwich, Connecticut.Bills right now are trading like dot-coms.'' We had clients asking to be pulled out of money market funds and wanting to get into Treasuries,'' said Henley Smith, fixed-income manager in New York at Castleton Partners, which oversees about $150 million in bonds.People are buying T-bills because you know exactly what's in it.'' • February 13, 2008. The Economic Stimulus Act of 2008 was enacted, which included a tax rebate. The total cost of this bill was projected at $152 billion for 2008. A December 2009 study found that only about one-third of the tax rebate was spent, providing only a modest amount of stimulus. • September 2008. China Becomes Largest U.S. Foreign Creditor at 600 billion dollars. • 2010. China’s market power peaked in when it reached a market share of around 97% of all rare earth mineral production. Outside of China, there were almost no other producers left. Outside of China, the US is the second largest consumer of rare earths in the world behind Japan. About 60% of US rare earth imports are used as catalysts for petroleum refining, making it the country’s major consumer of rare earths. The US military also depends on rare earths. Many of the most advanced US weapon systems, including smart bombs, unmanned drones, cruise missiles, laser targeting, radar systems and the Joint Strike Fighter programme rely on rare earths. Against this background, the US Department of Defense (DoD) stated that “reliable access to the necessary material is a bedrock requirement for DOD” • 2010. A trade dispute arose when the Chinese government reduced its export quotas by 40% in 2010, sending the rare earths prices in the markets outside China soaring. The government argued that the quotas were necessary to protect the environment. • August 2010. China Becomes World’s Second-Largest Economy. • November 2011. U.S. Secretary of State Hillary Clinton outlines a U.S. “pivot” to Asia. Clinton’s call for “increased investment—diplomatic, economic, strategic, and otherwise—in the Asia-Pacific region” is seen as a move to counter China’s growing clout. • December 2011. U.S. President Barack Obama announces the United States and eight other nations have reached an agreement on the Trans-Pacific Partnership later announces plans to deploy 2,500 marines in Australia, prompting criticism from Beijing. • November 2012. China’s New Leadership. Xi Jinping replaces Hu Jintao as president, Communist Party general secretary, and chairman of the Central Military Commission. Xi delivers a series of speeches on the “rejuvenation” of China. • June 2013. U.S. President Barack Obama hosts Chinese President Xi Jinping for a “shirt-sleeves summit” • May 19, 2014. A U.S. court indicts five Chinese hackers, allegedly with ties to China’s People’s Liberation Army, on charges of stealing trade technology from U.S. companies. • November 12, 2014. Joint Climate Announcement. Barack Obama and Chinese President Xi Jinping issue a joint statement on climate change, pledging to reduce carbon emissions. (which very conveniently allows the quotas to fall and save pride for Xi). • 2015. China drops the export quotas because in 2014, the WTO ruled against China. • May 30, 2015 U.S. Warns China Over South China Sea. (China is trying to expand it's buffer zone to build a defense for the coming war). • January 2016. The government to abolish the one-child policy, now allowing all families to have two children. • February 9, 2017. Trump Affirms One China Policy After Raising Doubts. • April 6 – 7, 2017. Trump Hosts Xi at Mar-a-Lago. Beijing and Washington to expand trade of products and services like beef, poultry, and electronic payments, though the countries do not address more contentious trade issues including aluminum, car parts, and steel. • November 2017. President Xi meets with President Trump in another high profile summit. • March 22, 2018. Trump Tariffs Target China. The White House alleges Chinese theft of U.S. technology and intellectual property. Coming on the heels of tariffs on steel and aluminum imports, the measures target goods including clothing, shoes, and electronics and restrict some Chinese investment in the United States. • July 6, 2018 U.S.-China Trade War Escalates. • September 2018. Modifications led to the exclusion of rare earths from the final list of products and they consequently were not subject to import tariffs imposed by the US government in September 2018. • October 4, 2018. Pence Speech Signals Hard-Line Approach. He condemns what he calls growing Chinese military aggression, especially in the South China Sea, criticizes increased censorship and religious persecution by the Chinese government, and accuses China of stealing American intellectual property and interfering in U.S. elections. • December 1, 2018. Canada Arrests Huawei Executive. • March 6, 2019. Huawei Sues the United States. • March 27 2019. India and the US signed an agreement to "strengthen bilateral security and civil nuclear cooperation" including the construction of six American nuclear reactors in India • May 10, 2019. Trade War Intensifies. • August 5, 2019. U.S. Labels China a Currency Manipulator. • November 27, 2019. Trump Signs Bill Supporting Hong Kong Protesters. Chinese officials condemn the move, impose sanctions on several U.S.-based organizations, and suspend U.S. warship visits to Hong Kong. • January 15, 2020. ‘Phase One’ Trade Deal Signed. But the agreement maintains most tariffs and does not mention the Chinese government’s extensive subsidies. Days before the signing, the United States dropped its designation of China as a currency manipulator. • January 31, 2020. Tensions Soar Amid Coronavirus Pandemic. • March 18, 2020. China Expels American Journalists. The Chinese government announces it will expel at least thirteen journalists from three U.S. newspapers—the New York Times, Wall Street Journal, and Washington Post—whose press credentials are set to expire in 2020. Beijing also demands that those outlets, as well as TIME and Voice of America, share information with the government about their operations in China. The Chinese Foreign Ministry says the moves are in response to the U.S. government’s decision earlier in the year to limit the number of Chinese journalists from five state-run media outlets in the United States to 100, down from 160, and designate those outlets as foreign missions. And here we are. You may have noticed the Rare Earth Elements and the inclusion of Environmental Standards. Yes these are key to understanding the Geopolitical reality and importance of these events. There's a reason the one child policy stopped. Troop additions. I believe our current political reality started at Tiananmen square. The protests were an American sponsored attempt at regime change after the failure to convince them to leave totalitarian communism and join a greater political framework. Do I have proof? Yes. China, as far as I'm concerned, was responsible for the 2008 economic crisis. The Rare Earth Elements were an attempt to weaken the States and strengthen themselves simultaneously. This stranglehold either forced America to trade with China, or the trade was an American Trojan horse to eventually collapse their economy and cause a revolution after Tiananmen Square failed. Does my second proposal sound far fetched? Didn't the economy just shut down in response to the epidemic? Aren't both sides blaming the other? At this POINT, the epidemic seems to be overstated doesn’t it? Don't the casualties tend to the elder demographic and those already weakened by a primary disease? Exactly the kinds who wouldn't fight in a war. Does this change some of my views on the possibility of upcoming catastrophes and reasons for certain events? No. This is Chess, and there are obvious moves in chess, hidden moves in chess, but the best moves involve peices which can be utilized in different ways if the board calls for it. Is all what it seems? No. I definitely changed a few previously held beliefs prior to today, and I would caution you in advance that you will find some previously held convictions challenged. After uncovering what I did today, I would also strongly suggest reading information cautiously. This is all merely a culmination of ending the cold war, and once I have events laid out, you will see it as well. At this moment, the end analysis is a war will start in the near future. This will be mainly for a few reasons, preemptive resource control for water and crops, population reduction can be achieved since we have too many people, not enough jobs, and upcoming resource scarcity. Did you notice my omission of rare earth elements? This is because of Afghanistan. I would wager China or Russia is somehow supporting the continued resistance through Iran. But events are now accelerating with China because the western collation has already begun to build up their mines and start production. Do you remember when Trump made a "joke" about buying Greenland? Yeah. It turns out that Greenland has one of the largest rare earth mineral deposits on the planet. Take care. Be safe. Stay aware and be prepared. This message not brought to you by the Bill and Melinda Gates Foundation, Microsoft, Google, Facebook, Elon Musk, Blackrock, Vangaurd, the Rockefeller Foundation, Rand Corporation, DARPA, Rothschilds, Agenda 21, Agenda 30, and ID 2020.
I was 23 and had it all! A great job, had purchased my mother a house and was on the mortgage, a girlfriend of 2 years, we were saving for a house and on the verge of getting engaged. Then my addiction kicked in. I don't know what triggered it, it just happened. Started small and gradually got worse. It all started with sports betting, I'd occasionally bet on the football just for fun the odd accumulator here and there. In my role at the time gambling was a huge part of the culture, so many of the guys were doing it. Have a feeling this may be what contributed to my problem. Addiction 1 - Sports Betting Anyway, it escalated from football onto tennis. I was literally betting on who was going to win the next serve or game! This is what got me hooked. One night I managed to turn £200 into £1,500... and proceeded to lose the lot the very next morning. Just didn't know when to stop! This got worse and worse, and I ended up betting in excess of £100 per point. In the end I had this feeling the games were fixed! There was a pattern where the favourite would lose the first game, be on the verge of losing the second or third and then all of a sudden make a sudden comeback and win when the odds were all against them. It was a game involving John Isner. I'll never forget it, at the time I was about £7k in debt, with £1.5k in my betting account. John Isner was on the verge of losing, but he was breaking every serve in the match at odds of 7/1. I started betting on him breaking the serve, turned £1.5k into over £12k... I was over the moon. Withdrew £11k, left £1k in the account and thought I was clear. This was not the end. I lost and proceeded to eat into the £11k. From that point onwards I was well and truly addicted, 11 months later I had a mental breakdown in front of my girlfriend and parents. £40k in debt but promising to them I would get out and change my life. Soon after the UK released a scheme that would allow you to self exclude from every gambling website, this successfully curbed my addiction, although I did still have a few relapses. 17 months later, November 2017. I finally had my first month's wages, I was debt free and life seemed to be back to normal. My girlfriend had stuck by me and we were starting to look for a house! Addiction 2 - Cryptocurrency All was great except one of my friends mentioned to me to buy some bitcoin it was going to boom. So in the first month I researched bitcoin like crazy... having first heard about it in 2013 I felt I simply couldn't miss out on this opportunity. I stumbled across altcoins and decided to invest in Tron. £1k, turned into £5k in under a month. My addiction triggered all over again. Bitcoin proceeded to rise to £20k from £10k, the market was bullish. Then the bitcoin crash happened and over the proceeding months it fell to £3k. During that time I was made aware of a platform called 'Bitmex'. Whereby I could leverage my original investment by upto 100x. This is what ruined my life, at one point I had three bitcoins in the account and again within two weeks they were all gone! Fastforward 9 months, September 2018. My girlfriend and I were scheduled to fly to the Chicago to drive route 66 from start to finish. I broke down again, this time in £20k worth of debt, I simply couldn't handle it. This time around my girlfriend left me, I understand and had been expecting it... who would want to waste their life with an addict that simply didn't seem to want to help himself? My parents were on the verge of disowning me, this was what I thought was going to be my lowest. My parents decided to help me, they took control of my finances. Got new loans out to pay for the mess I had created, and this is the part that kills me. I betrayed my own parents in order to continue with my addiction. At the end of it all upto £50k in debt, all thanks to Bitmex. It killed me, I couldn't self exclude and the company simply refused to do anything about it. I felt helpless to this brain draining addiction. No idea how but I kicked the habit over time. In March 2019 I moved out of the family home I helped to purchase and moved 5 hours north for a new job, in a new town. We had a plan, I was throwing every single penny I had at the debt. It was slowly going down and I was happy! Addiction 3 - stocks and shares At this point I had my own allowance to live on. Instead of living a normal life I saved every penny, lived off the cheapest of microwave meals and was putting everything into my share portfolio. I was investing in cryptocurrency with low leverge and doing well, this is what I knew! Then, news broke that Thomas Cook was going bust. I thought that there's no way the government would let such a large company go into administration. I had a friend that worked there in the accounts department, decided to reach out to him. He gave me information that the company was set to be recovered and they had nothing to worry about. I invested at the lowest of prices! HE WAS WRONG. I proceeeded to lose my entire portfolio on this one mistake. For over 6 months I had put everything into this portfolio which amassed to just over £6k. September 2019. This crippled me, I was addicted again. I proceeded to take out loans and max credit cards in order to get my portfolio back. I then decided to short WHSmith as it was at it's all time high. It rose and rose, I closed my position losing over £3k. This was over the course of three months and in that time I got a new job and moved home. Christmas once again, can't buy my family presents as I've no money. Life sucked, I didn't know what to do - there was nothing I could do! Fastforward to March 2020. I'm now in £37k worth of debt, my parents know about £31k of it. Coronavirus is really starting to affect the world. Little did I know it would rock the stock market so much. I discovered oil, a reasonable price of $32. It had just crashed from $50. I thought surely it can't go any lower. It could... I lost my entire portfolio, then took out my final £4k loan. Proceeded to lose the lot in oil. By this time oil was priced as low as $7. I scrambled to throw my last £100 at the account. It bounced right as I bought at around $8. Upto $16... all the way up I kept closing and reopening. Within 8/9 hours my account had a balance of £24k. Yes!! I could pay off all of my hidden debt, give my Mum £10k to pay off that and I'd be left in debt of circa £20k. I withdrew £2.5k and left the balance ready to withdraw the next day. The next morning I went to work. Normal as can be, nothing invested just £20k sitting there. I made the mistake of investing more in oil. I got greedy! £15k... £21k... £15k... £10k... £4.8k... £6k... £3k... £2.2k... gone. Just like that, the entire balance gone. I was devastated. My last £2.5k in the bank, deposited... gone. Wages, deposited... gone. Sold my laptop, deposited... gone. Addiction is real the worst thing you can do is to make a big gain... what follows is often devastating and life destroying. I'm now in £42k worth of debt. Have admitted everything to my parents and am now working my way out of this mess. I will work towards a risk free life, a life where I'm not part of any get rich quick schemes. A life where I just work hard, live normally and love myself for who I am. I've lost money, a partner and a lot of sleep over the last few years. There's one thing I'll never get back, TIME. I'm now on a journey to find myself, kick these awful habits and get my life back on track. I'm now 26, have 17 months left of my debt sentence and this has been my three year hell.
https://preview.redd.it/jm1m2g05uoy41.png?width=3800&format=png&auto=webp&s=74ed4ae1ee25ad25ec0f03c03e6f6e8cea86e30b When I was young, I remembered my teacher asked: “Hands up to those who think money is not important.” I raised my hand and he asked why. Being a naive 9 year old, I hesitantly answered “There are many other things that are far more important than money – health, clean air, etc. He then answered “True. But, you need money to build a mechanism with the purpose of maintaining clean air. You need money to buy medicine to recover your health. The list goes on. It’s a painful truth. But, the world revolves around money – whether we like or not.” It taught me the meaning of “value” and the impact money had on the world as well as external factors that impact the value of money. Currently, we are facing a global pandemic that threatens our precious lives. Coronavirus started to create panic in China around November 2019. Little did we know that it had the power to cause such drastic changes especially towards the economy with multiple currency downturn. The most affected currency is the China dollar as well as China’s largest trading partner Australia and New Zealand, affecting their currency drop. Cryptocurrency has been taking a major hit as well with the market crash that happened early in March. The cause of the market crash was, however, unclear. In other news, Bitcoin, a cryptocurrency that was initially perceived as a “safe haven” asset that is expected to retain or increase in value was seen to be a risky asset. For some, Bitcoin was bought at a low price to be resold at a higher price. Whereas some genuinely utilize it and consider it as a substitute to fiat currencies. Sadly, due to recent events, Bitcoin is once again seen as a risky asset that takes investors in a worry-joy roller coaster ride. According to experts, the crash was due to a general panic on the stock exchanges. Consequently, some investors began to rethink their investment strategies by selling their cryptocurrency assets most probably to pay off urgent debts and prepare for the pandemic by preparing for food and supplies. History will record the occurrence of global panic buying, deaths, and peculiar drastic trends such as masks, cleaning supplies, and shockingly, a rise in digital wallet usage. As people become more health conscious while the government and doctors learn to contain the spread of coronavirus, thankfully, the economy is slightly improving. Analysts predict that the market will begin to recover gradually in the coming months, following a similar pattern to the SARS outbreak in March 2013, as the currency markets went back to normal after 2 months SARS was under control. However, as the economy slowly reverts, what will happen to consumer’s trend of making digital payments?
Digital Payments Post-Pandemic
When experts revealed that cash is able to transport live virus for up to 17 days, people have immediately switched to digital payments in fear of spreading or getting infected by the virus from money transference. On the other hand, the U.S. Federal Reserve increased the minimum holding period for bills coming from Asia and Europe in an attempt to contain the spread. China and South Korea take it to another level by disinfecting money and burning it. Multiple banks have also encouraged the use of contactless payments such as online banking to avoid overcrowding of ATM terminals to withdraw money. These incidents have led experts to believe that digital payments are the future. A world without cash. Canada, Sweden, and the UK are among the top cashless countries. But, what would happen if other countries follow their footsteps? The absence of cash could attract many benefits such as crime reduction. People are able to eliminate the risk of being a target by not carrying cash as debit and credit cards can be easily reported and canceled if reported stolen. Whereas, if cash is stolen, it’s impossible to retrieve it back unlike digital currencies such as Bitcoin and online banking that enables you to keep track of your transactions. On the other hand, a complete cashless world is impossible as the poor remain dependent on cash. It might even cause a return to barter among the poor to exchange one thing for another in order to survive. This could, however, be avoided if there is a global strategic plan transforming the way humans live. Is it possible, though?
The date was June 10, 2018. The sun was shining, the grass was growing, and the birds were singing. At least, that’s what I assumed. Being a video game and tech obsessed teenager, I was indoors, my eyes glued to my computer monitor like a starving lion spying on a plump gazelle. I was watching the E3 (Electronic Entertainment Expo) 2018 broadcast on twitch.com, a popular streaming website. Video game developers use E3 as an annual opportunity to showcase any upcoming video game projects to the public. So far, the turnout had been disappointing. Much to my disappointment, multiple game developers failed to unveil anything of actual sustenance for an entire two hours. A graphical update here, a bug fix there. Issues that should have been fixed at every game’s initial launch, not a few months after release. Feeling hopeless, I averted my eyes from my computer monitor to check Reddit (a social media app/website) if there were any forum posts that I had yet to see. But then, I heard it. The sound of music composer Mick Gordon’s take on the original “DooM” theme, the awesome combination of metal and electronic music. I looked up at my screen and gasped. Bethesda Softworks and id software had just announced “DOOM: Eternal”, the fifth addition in the “DooM” video game series. “DOOM: Eternal” creative director Hugo Martin promised that the game would feel more powerful than it’s 2016 predecessor, there would be twice as many enemy types, and the doom community would finally get to see “hell on earth”. (Martin) As a fan of “DOOM (2016)”, I was ecstatic. The original “DooM” popularized the “First Person Shooter (FPS)” genre, and I wished I wouldn’t have to wait to experience the most recent entry in the series. “DOOM(1993)” was a graphical landmark when it originally released, yet nowadays it looks extremely dated, especially compared to “DOOM: Eternal”. What advancements in computer technology perpetuated this graphical change? Computers became faster, digital storage increased, and computer peripherals were able to display higher resolution and refresh rates. “DooM” 1993 graphics example: 📷(Doom | Doom Wiki) “DOOM: Eternal” graphics example: 📷 (Bailey) In their video “Evolution Of DOOM”, the video game YouTube Channel “gameranx” says that on December 10, 1993, a file titled “DOOM1_0.zip” was uploaded on the File Transfer Protocol (FTP) server of the University of Wisconsin. This file, two megabytes in size, contained the video game “DooM” created by the game development group “id Software”. (Evolution of DOOM) While not the first game in the “First Person Shooter” (FPS) genre, “DooM” popularized the genre, to the point of any other FPS game being referred to as a “Doom Clone” until the late 1990s. (Doom clones | Doom Wiki) The graphics of the original “DooM” is definitely a major downgrade compared to today’s graphical standards, but keep in mind that the minimum system requirements of “DooM”, according to the article “Doom System Requirements” on gamesystemrequirements.com, was eight megabytes of ram, an Intel Pentium or AMD (Advanced Micro Devices) Athlon 486 processor cycling at sixty-six megahertz or more, and an operating system that was Windows 95 or above. (Doom System Requirements) In case you don’t speak the language of technology (although I hope you learn a thing or two at the end of this essay), the speed and storage capacity is laughable compared to the specifications of today. By 1993, the microprocessor, or CPU (Central Processing Unit) had been active for the past twenty-two years after replacing the integrated circuit in 1971, thanks to the creators of the microprocessor, Robert Noyce and Gordon Moore who were also the founder of CPU manufacturer “Intel”. Gordon Moore also created “Moore’s law”, which states “The number of transistors incorporated in a chip will approximately double every 24 months”. (Moore) Sadly, according to writer and computer builder Steve Blank in his article “The End of More - The Death of Moore’s Law”, this law would end at around 2005, thanks to the basic laws of physics. (Blank) 1993 also marked an important landmark for Intel, who just released the first “Pentium” processor which was capable of a base clock of 60 MHz (megahertz). The term “base clock” refers to the default speed of a CPU. This speed can be adjusted via the user’s specifications, and “MHz” refers to one million cycles per second. A cycle is essentially one or more problems that the computer solves. The more cycles the CPU is running at, the more problems get solved. Intel would continue upgrading their “Pentium” lineup until January 4, 2000 when they would release the “Celeron” processor, with a base clock of 533 MHz. Soon after, on June 19, 2000, rival CPU company AMD would release their “Duron” processor which had a base clock of 600 MHz, with a maximum clock of 1.8 GHz (Gigahertz). One GHz is equal to 1,000 MHz. Intel and AMD had established themselves as the two major CPU companies in the 1970s in Silicon Valley. Both companies had been bitter rivals since then, trading figurative blows in the form of competitive releases, discounts, and “one upmanship” to this day. Moving on to April 21, 2005 when AMD released the first dual-core CPU, the “Athlon 64 X2 3800+”. The notable feature of this CPU, besides a 2.0 GHz base clock and a 3.8 maximum clock, was that it was the first CPU to have two cores. A CPU core is a CPU’s processor. The more cores a CPU has, the more tasks it can perform per cycle, thus maximizing it’s efficiency. Intel wouldn’t respond until January 9, 2006, when they released their dual-core processor, the “Core 2 Duo Processor E6320”, with a base clock of 1.86 GHz. (Computer Processor History) According to tech entrepreneur Linus Sebastian in his YouTube videos “10 Years of Gaming PCs: 2009 - 2014 (Part 1)” and “10 Years of Gaming PCs: 2015 - 2019 (Part 2)”, AMD would have the upper hand over Intel until 2011, when Intel released the “Sandy Bridge” CPU microarchitecture, which was faster and around the same price as AMD’s current competing products. (Sebastian) The article “What is Microarchitecture?” on the website Computer Hope defines microarchitecture as “a hardware implementation of an ISA (instruction set architecture). An ISA is a structure of commands and operations used by software to communicate with hardware. A microarchitecture is the hardware circuitry that implements one particular ISA”. (What is Microarchitecture?) Microarchitecture is also referred to as what generation a CPU belongs to. Intel would continue to dominate the high-end CPU market until 2019, when AMD would “dethrone” Intel with their third generation “Ryzen” CPU lineup. The most notable of which being the “Ryzen 3950x”, which had a total of sixteen cores, thirty-two threads, a base clock of 3.5 GHz, and a maximum clock of 4.7 GHz. (Sebastian) The term “thread” refers to splitting one core into virtual cores, via a process known as “simultaneous multithreading”. Simultaneous multithreading allows one core to perform two tasks at once. What CPU your computer has is extremely influential for how fast your computer can run, but for video games and other types of graphics, there is a special type of processor that is designed specifically for the task of “rendering” (displaying) and generating graphics. This processor unit is known as the graphics processing unit, or “GPU”. The term “GPU” wasn’t used until around 1999, when video cards started to evolve beyond the literal generation of two-dimensional graphics and into the generation of three-dimensional graphics. According to user “Olena” in their article “A Brief History of GPU”, The first GPU was the “GeForce 256”, created by GPU company “Nvidia'' in 1999. Nvidia promoted the GeForce 256 as “A single-chip processor with integrated transform, lighting, triangle setup/clipping, and rendering engines that is capable of processing a minimum of 10 million polygons per second”. (Olena) Unlike the evolution of CPUs, the history of GPUs is more one sided, with AMD playing a game of “catchup” ever since Nvidia overtook AMD in the high-end GPU market in 2013. (Sebastian) Fun fact, GPUs aren’t used only for gaming! In 2010, Nvidia collaborated with Audi to power the dashboards and increase the entertainment and navigation systems in Audi’s cars! (Olena) Much to my (and many other tech enthusiasts), GPUs would increase dramatically in price thanks to the “bitcoin mania” around 2017. This was, according to senior editor Tom Warren in his article “Bitcoin Mania is Hurting PC Gamers By Pushing Up GPU Prices'' on theverge.com, around an 80% increase in price for the same GPU due to stock shortages. (Warren) Just for context, Nvidia’s “flagship” gpu in 2017 was the 1080ti, the finest card of the “pascal” microarchitecture. Fun fact, I have this card. The 1080ti launched for $699, with the specifications of a base clock of 1,481 MHz, a maximum clock of 1,582 MHz, and 11 gigabytes of GDDR5X Vram (Memory that is exclusive to the GPU) according to the box it came in. Compare this to Nvidia’s most recent flagship GPU, the 2080ti of Nvidia’s followup “Turing” microarchitecture, another card I have. This GPU launched in 2019 for $1,199. The 2080ti’s specifications, according to the box it came in included a base clock of 1,350 MHz, a maximum clock of 1,545 MHz, and 11 gigabytes of GDDR6 Vram. A major reason why “DooM” was so popular and genius was how id software developer John Carmack managed to “fake” the three-dimensional graphics without taking up too much processing power, hard drive space, or “RAM” (Random access memory), a specific type of digital storage. According to the article “RAM (Random Access Memory) Definition” on the website TechTerms, Ram is also known as “volatile” memory, because it is much faster than normal storage (which at the time took the form of hard-drive space), and unlike normal storage, only holds data when the computer is turned on. A commonly used analogy is that Ram is the computer’s short-term memory, storing temporary files to be used by programs, while hard-drive storage is the computer’s long term memory. (RAM (Random Access Memory) Definition) As I stated earlier, in 1993, “DooM” required 8 megabytes of ram to run. For some context, as of 2020, “DOOM: Eternal” requires a minimum of 8 gigabytes of DDR4 (more on this later) ram to run, with most gaming machines possessing 16 gigabytes of DDR4 ram. According to tech journalist Scott Thornton in his article “What is DDR (Double Data Rate) Memory and SDRAM Memory”, in 1993, the popular format of ram was “SDRAM”. “SDRAM” stands for “Synchronous Dynamic Random Access Memory”. SDRAM differs from its predecessor, “DRAM” (Dynamic Random Access Memory) by being synchronized with the clock speed of the CPU. DRAM was asynchronous (not synchronized by any external influence), which “posted a problem in organizing data as it comes in so it can be queued for the process it’s associated with”. SDRAM was able to transfer data one time per clock cycle, and it’s replacement in the early 2000s, “DDR SDRAM” (Dual Data Rate Synchronous Dynamic Random Access Memory) was able to transfer data two times per clock cycle. This evolution of ram would continue to this day. In 2003, DDR2 SDRAM was released, able to transfer four pieces of data per clock cycle. In 2007, DDR3 SDRAM was able to transfer eight pieces of data per clock cycle. In 2014, DDR4 SDRAM still was able to transfer eight pieces of data per cycle, but the clock speed had increased by 600 MHz, and the overall power consumption had been reduced from 3.3 volts for the original SDRAM to 1.2 volts for DDR4. (Thornton)The digital size of each “ram stick” (a physical stick of ram that you would insert into your computer) had also increased, from around two megabytes per stick, to up to 128 gigabytes per stick (although this particular option will cost you around $1,000 per stick depending on the manufacturer) in 2020, although the average stick size is 8 gigabytes. For the average computer nowadays, you can insert up to four ram sticks, although for more high-end systems, you can insert up to sixteen or even thirty-two! Rewind back to 1993, where the original “DooM” took up two megabytes of storage, not to be confused with ram. According to tech enthusiast Rex Farrance in their article “Timeline: 50 Years of Hard Drives”, the average computer at this time had around two gigabytes of storage. Storage took the form of magnetic-optical discs, a combination of the previous magnetic discs and optical discs. (Farrance) This format of storage is still in use today, although mainly for large amounts of rarely used data, while data that is commonly used by programs (including the operating system) is put on solid-state drives, or SSDs. According to tech journalist Keith Foote in their article “A Brief History of Data Storage”, SSDs differed from the HDD by being much faster and smaller, storing data on a flash memory chip, not unlike a USB thumb drive. While SSDs had been used as far back as 1950, they wouldn’t find their way into the average gaming machine until the early 2010s. (Foote) A way to think about SSDs is common knowledge. It doesn’t contain every piece of information you know, it just contains what you use on a daily basis. For example, my computer has around 750 gigabytes of storage in SSDs, and around two terabytes of internal HDD storage. On my SSDs, I have my operating system, my favorite programs and games, and any files that I use frequently. On my HDD, I have everything else that I don’t use on a regular basis. “DOOM: Eternal” would release on March 20, 2020, four months after it’s original release date on November 22, 2019. And let me tell you, I was excited. The second my clock turned from 11:59 P.M. to 12:00 A.M., I repeatedly clicked my refresh button, desperately waiting to see the words “Coming March 20” transform into the ever so beautiful and elegant phrase: “Download Now”. At this point in time, I had a monitor that was capable of displaying roughly two-million pixels spread out over it’s 27 inch display panel, at a rate of 240 times a second. Speaking of monitors and displays, according to the article “The Evolution of the Monitor” on the website PCR, at the time of the original “DooM” release, the average monitor was either a CRT (cathode ray tube) monitor, or the newer (and more expensive) LCD (liquid crystal display) monitor. The CRT monitor was first unveiled in 1897 by the German physicist Karl Ferdinand Braun. CRT monitors functioned by colored cathode ray tubes generating an image on a phosphorescent screen. These monitors would have an average resolution of 800 by 600 pixels and a refresh rate of around 30 frames per second. CRT monitors would eventually be replaced by LCD monitors in the late 2000s. LCD monitors functioned by using two pieces of polarized glass with liquid crystal between them. A backlight would shine through the first piece of polarized glass (also known as substrate). Electrical currents would then cause the liquid crystals to adjust how much light passes through to the second substrate, which creates the images that are displayed. (The Evolution of the Monitor) The average resolution would increase to 1920x1080 pixels and the refresh rate would increase to 60 frames a second around 2010. Nowadays, there are high end monitors that are capable of displaying up to 7,680 by 4,320 pixels, and also monitors that are capable of displaying up to 360 frames per second, assuming you have around $1,000 lying around. At long last, it had finished. My 40.02 gigabyte download of “DOOM: Eternal” had finally completed, and oh boy, I was ready to experience this. I ran over to my computer, my beautiful creation sporting 32 gigs of DDR4 ram, an AMD Ryzen 7 “3800x” with a base clock of 3.8 GHz, an Nvidia 2080ti, 750 gigabytes of SSD storage and two terabytes of HDD storage. Finally, after two years of waiting for this, I grabbed my mouse, and moved my cursor over that gorgeous button titled “Launch DOOM: Eternal”. Thanks to multiple advancements in the speed of CPUs, the size of ram and storage, and display resolution and refresh rate, “DooM” had evolved from an archaic, pixelated video game in 1993 into the beautiful, realistic and smooth video game it is today. And personally, I can’t wait to see what the future has in store for us.
February — The first ever cryptocurrency exchange, Bitcoin Market, is established. The first trade takes place a month later. April — The first public bitcoin trade takes place: 1000BTC traded for $30 at an exchange rate of 0.03USD/1BTC May — The first real-world bitcoin transaction is undertaken by Laszlo Hanyecz, who paid 10000BTC for two Papa John’s pizzas (Approximately $25 USD) June — Bitcoin developer Gavin Andreson creates a faucet offering 5 free BTC to the public July — First notable usage of the word “blockchain” appears on BitcoinTalk forum. Prior to this, it was referred to as ‘Proof-of-Work chain’ July — Bitcoin exchange named Magic The Gathering Online eXchange—also known as Mt. Gox—established August —Bitcoin protocol bug leads to emergency hard fork December — Satoshi Nakamoto ceases communication with the world
January — One-quarter of the eventual total of 21M bitcoins have been generated February — Bitcoin reaches parity for the first time with USD April — Bitcoin reaches parity with EUR and GBP June — WikiLeaks begins accepting Bitcoin donations June — Mt. Gox hacked, resulting in suspension of trading and a precipitous price drop for Bitcoin August — First Bitcoin Improvement Proposal: BIP Purpose and Guidelines October — Litecoin released December — Bitcoin featured as a major plot element in an episode of ‘The Good Wife’ as 9.45 million viewers watch.
May — Bitcoin Magazine, founded by Mihai Alisie and Vitalik Buterin, publishes first issue July — Government of Estonia begins incorporating blockchain into digital ID efforts September — Bitcoin Foundation created October — BitPay reports having over 1,000 merchants accepting bitcoin under its payment processing service November — First Bitcoin halving to 25 BTC per block
February — Reddit begins accepting bitcoins for Gold memberships March — Cyprus government bailout levies bank accounts with over $100k. Flight to Bitcoin results in major price spike. May —Total Bitcoin value surpasses 1 billion USD with 11M Bitcoin in circulation May — The first cryptocurrency market rally and crash takes place. Prices rise from $13 to $220, and then drop to $70 June — First major cryptocurrency theft. 25,000 BTC is stolen from Bitcoin forum founder July — Mastercoin becomes the first project to conduct an ICO August — U.S. Federal Court issues opinion that Bitcoin is a currency or form of money October — The FBI shuts down dark web marketplace Silk Road, confiscating approximately 26,000 bitcoins November — Vitalik Buterin releases the Ethereum White Paper: “A Next-Generation Smart Contract and Decentralized Application Platform” December — The first commit to the Ethereum codebase takes place
January — Vitalik Buterin announces Ethereum at the North American Bitcoin Conference in Miami February — HMRC in the UK classifies Bitcoin as private money March — Newsweek claims Dorian Nakamoto is Bitcoin creator. He is not April — Gavin Wood releases the Ethereum Yellow Paper: “Ethereum: A Secure Decentralised Generalised Transaction Ledger” June — Ethereum Foundation established in Zug, Switzerland June — US Marshals Service auctions off 30,000 Bitcoin confiscated from Silk Road. All are purchased by venture capitalist Tim Draper July — Ethereum token launch raises 31,591 BTC ($18,439,086) over 42 days September — TeraExchange launches first U.S. Commodity Futures Trading Commission approved Bitcoin over-the-counter swap October — ConsenSys is founded by Joe Lubin December — By year’s end, Paypal, Zynga, u/, Expedia, Newegg, Dell, Dish Network, and Microsoft are all accepting Bitcoin for payments
January — Coinbase opens up the first U.S-based cryptocurrency exchange February — Stripe initiates bitcoin payment integration for merchants April — NASDAQ initiates blockchain trial June — NYDFS releases final version of its BitLicense virtual currency regulations July — Ethereum’s first live mainnet release—Frontier—launched. August — Augur, the first token launch on the Ethereum network takes place September — R3 consortium formed with nine financial institutions, increases to over 40 members within six months October — Gemini exchange launches, founded by Tyler and Cameron Winklevoss November — Announcement of first zero knowledge proof, ZK-Snarks December — Linux Foundation establishes Hyperledger project
January — Zcash announced February — HyperLedger project announced by Linux Foundation with thirty founding members March — Second Ethereum mainnet release, Homestead, is rolled out. April — The DAO (decentralized autonomous organization) launches a 28-day crowdsale. After one month, it raises an Ether value of more than US$150M May — Chinese Financial Blockchain Shenzhen Consortium launches with 31 members June — The DAO is attacked with 3.6M of the 11.5M Ether in The DAO redirected to the attacker’s Ethereum account July — The DAO attack results in a hard fork of the Ethereum Blockchain to recover funds. A minority group rejecting the hard fork continues to use the original blockchain renamed Ethereum Classic July — Second Bitcoin halving to 12.5BTC per block mined November — CME Launches Bitcoin Price Index
January — Bitcoin price breaks US$1,000 for the first time in three years February — Enterprise Ethereum Alliance formed with 30 founding members, over 150 members six months later March — Multiple applications for Bitcoin ETFs rejected by the SEC April — Bitcoin is officially recognized as currency by Japan June — EOS begins its year-long ICO, eventually raising $4 billion July — Parity hack exposes weaknesses in multisig wallets August — Bitcoin Cash forks from the Bitcoin Network October — Ethereum releases Byzantium soft fork network upgrade, part one of Metropolis September — China bans ICOs October — Bitcoin price surpasses $5,000 USD for the first time November — Bitcoin price surpasses $10,000 USD for the first time December — Ethereum Dapp Cryptokitties goes viral, pushing the Ethereum network to its limits
January — Ethereum price peaks near $1400 USD March — Google bans all ads pertaining to cryptocurrency March — Twitter bans all ads pertaining to cryptocurrency April — 2018 outpaces 2017 with $6.3 billion raised in token launches in the first four months of the year April — EU government commits $300 million to developing blockchain projects June — The U.S. Securities and Exchange Commission states that Ether is not a security. July — Over 100,000 ERC20 tokens created August — New York Stock Exchange owner announces Bakkt, a federally regulated digital asset exchange October — Bitcoin’s 10th birthday November — VC investment in blockchain tech surpasses $1 billion December — 90% of banks in the US and Europe report exploration of blockchain tech
January — Coinstar machines begin selling cryptocurrency at grocery stores across the US February — Ethereum’s Constantinople hard fork is released, part two of Metropolis April — Bitcoin surpasses 400 million total transactions June — Facebook announces Libra July — United States senate holds hearings titled ‘Examining Regulatory Frameworks for Digital Currencies and Blockchain” August — Ethereum developer dominance reaches 4x that of any other blockchain October — Over 80 million distinct Ethereum addresses have been created September — Santander bank settles both sides of a $20 million bond on Ethereum November — Over 3000 Dapps created. Of them, 2700 are built on Ethereum
Imagine if there was one desk that all stories could cross so that, at 4am, a media plan could be decided upon and disseminated where all news outlets coordinated to set the goalposts of debate and hyper focused on specific issues to drive a narrative to control how you vote and how you spend money; where Internet shills were given marching orders in tandem to what was shown on television, printed in newspapers and spread throughout articles on the World Wide Web. https://i.imgur.com/Elnci0M.png In the past, we had Operation Mockingbird, where the program was supremely confident that it could control stories around the world, even in instructions to cover up any story about a possible “Yeti” sighting, should it turn out they were real. https://i.imgur.com/121LXqy.png If, in 1959, the government was confident in its ability to control a story about a Yeti, then what is their level of confidence in controlling stories, today? https://i.imgur.com/jQFVYew.png https://i.imgur.com/ZKMYGJj.png In fact, we have a recent example of a situation similar to the Yeti. When Bill Clinton and Loretta Lynch met on the TARMAC to spike the Hillary email investigation, the FBI was so confident it wasn’t them, that their entire focus was finding the leaker, starting with searching within the local PD. We have documentation that demonstrates the state of mind of the confidence the upper levels of the FBI have when dealing with the media. https://i.imgur.com/IbjDOkI.png https://i.imgur.com/NH86ozU.png The marriage between mainstream media and government is a literal one and this arrangement is perfectly legal. https://i.imgur.com/OAd4vpf.png But, this problem extends far beyond politics; the private sector, the scientific community, even advice forums are shilled heavily. People are paid to cause anxiety, recommend people break up and otherwise sow depression and nervousness. This is due to a correlating force that employs “systems psychodynamics”, focusing on “tension centered” strategies to create “organizational paradoxes” by targeting people’s basic assumptions about the world around them to create division and provide distraction. https://i.imgur.com/6OEWYFN.png https://i.imgur.com/iG4sdD4.png https://i.imgur.com/e89Rx6B.png https://i.imgur.com/uotm9Cg.png https://i.imgur.com/74wt9tD.png In this day and age, it is even easier to manage these concepts and push a controlled narrative from a central figure than it has ever been. Allen & Co is a “boutique investment firm” that managed the merger between Disney and Fox and operates as an overseeing force for nearly all media and Internet shill armies, while having it’s fingers in sports, social media, video games, health insurance, etc. https://i.imgur.com/zlpBh3c.png https://i.imgur.com/e5ZvFFJ.png Former director of the CIA and Paul Brennan’s former superior George Tenet, holds the reigns of Allen & Co. The cast of characters involves a lot of the usual suspects. https://i.imgur.com/3OlrX7G.png
In 1973, Allen & Company bought a stake in Columbia Pictures. When the business was sold in 1982 to Coca-Cola, it netted a significant profit. Since then, Herbert Allen, Jr. has had a place on Coca-Cola's board of directors. Since its founding in 1982, the Allen & Company Sun Valley Conference has regularly drawn high-profile attendees such as Bill Gates, Warren Buffett, Rupert Murdoch, Barry Diller, Michael Eisner, Oprah Winfrey, Robert Johnson, Andy Grove, Richard Parsons, and Donald Keough. Allen & Co. was one of ten underwriters for the Google initial public offering in 2004. In 2007, Allen was sole advisor to Activision in its $18 billion merger with Vivendi Games. In 2011, the New York Mets hired Allen & Co. to sell a minority stake of the team. That deal later fell apart. In November 2013, Allen & Co. was one of seven underwriters on the initial public offering of Twitter. Allen & Co. was the adviser of Facebook in its $19 billion acquisition of WhatsApp in February 2014. In 2015, Allen & Co. was the advisor to Time Warner in its $80 billion 2015 merger with Charter Communications, AOL in its acquisition by Verizon, Centene Corporation in its $6.8 billion acquisition of Health Net, and eBay in its separation from PayPal. In 2016, Allen & Co was the lead advisor to Time Warner in its $108 billion acquisition by AT&T, LinkedIn for its merger talks with Microsoft, Walmart in its $3.3 billion purchase of Jet.com, and Verizon in its $4.8 billion acquisition of Yahoo!. In 2017, Allen & Co. was the advisor to Chewy.com in PetSmart’s $3.35 billion purchase of the online retailer.
Previous conference guests have included Bill and Melinda Gates, Warren and Susan Buffett, Tony Blair, Google founders Larry Page and Sergey Brin, Allen alumnus and former Philippine Senator Mar Roxas, Google Chairman Eric Schmidt, Quicken Loans Founder & Chairman Dan Gilbert, Yahoo! co-founder Jerry Yang, financier George Soros, Facebook founder Mark Zuckerberg, Media Mogul Rupert Murdoch, eBay CEO Meg Whitman, BET founder Robert Johnson, Time Warner Chairman Richard Parsons, Nike founder and chairman Phil Knight, Dell founder and CEO Michael Dell, NBA player LeBron James, Professor and Entrepreneur Sebastian Thrun, Governor Chris Christie, entertainer Dan Chandler, Katharine Graham of The Washington Post, Diane Sawyer, InterActiveCorp Chairman Barry Diller, Linkedin co-founder Reid Hoffman, entrepreneur Wences Casares, EXOR and FCA Chairman John Elkann, Sandro Salsano from Salsano Group, and Washington Post CEO Donald E. Graham, Ivanka Trump and Jared Kushner, and Oprah Winfrey.
https://i.imgur.com/VZ0OtFa.png George Tenet, with the reigns of Allen & Co in his hands, is able to single-handedly steer the entire Mockingbird apparatus from cable television to video games to Internet shills from a singular location determining the spectrum of allowable debate. Not only are they able to target people’s conscious psychology, they can target people’s endocrine systems with food and pornography; where people are unaware, on a conscious level, of how their moods and behavior are being manipulated. https://i.imgur.com/mA3MzTB.png
"The problem with George Tenet is that he doesn't seem to care to get his facts straight. He is not meticulous. He is willing to make up stories that suit his purposes and to suppress information that does not." "Sadly but fittingly, 'At the Center of the Storm' is likely to remind us that sometimes what lies at the center of a storm is a deafening silence."
https://i.imgur.com/YHMJnnP.png Tenet joined President-elect Bill Clinton's national security transition team in November 1992. Clinton appointed Tenet Senior Director for Intelligence Programs at the National Security Council, where he served from 1993 to 1995. Tenet was appointed Deputy Director of Central Intelligence in July 1995. Tenet held the position as the DCI from July 1997 to July 2004. Citing "personal reasons," Tenet submitted his resignation to President Bush on June 3, 2004. Tenet said his resignation "was a personal decision and had only one basis—in fact, the well-being of my wonderful family—nothing more and nothing less. In February 2008, he became a managing director at investment bank Allen & Company. https://i.imgur.com/JnGHqOS.png We have the documentation that demonstrates what these people could possibly be doing with all of these tools of manipulation at their fingertips. The term for it is “covert political action” for which all media put before your eyes is used to serve as a veneer… a reality TV show facade of a darker modus operandum. https://i.imgur.com/vZC4D29.png https://www.cia.gov/library/center-for-the-study-of-intelligence/kent-csi/vol36no3/html/v36i3a05p_0001.htm
It is now clear that we are facing an implacable enemy whose avowed objective is world domination by whatever means and at whatever costs. There are no rules in such a game. Hitherto acceptable norms of human conduct do not apply. If the US is to survive, longstanding American concepts of "fair play" must be reconsidered. We must develop effective espionage and counterespionage services and must learn to subvert, sabotage and destroy our enemies by more clever, more sophisticated means than those used against us. It may become necessary that the American people be made acquainted with, understand and support this fundamentally repugnant philosophy.
Intelligence historian Jeffrey T. Richelson says the S.A. has covered a variety of missions. The group, which recently was reorganized, has had about 200 officers, divided among several groups: the Special Operations Group; the Foreign Training Group, which trains foreign police and intelligence officers; the Propaganda and Political Action Group, which handles disinformation; the Computer Operations Group, which handles information warfare; and the Proprietary Management Staff, which manages whatever companies the CIA sets up as covers for the S.A.
…Those operations we inaugurated in the years 1955-7 are still secret, but, for present purposes, I can say all that’s worth saying about them in a few sentences – after, that is, I offer these few words of wisdom. The ‘perfect’ political action operation is, by definition, uneventful. Nothing ‘happens’ in it. It is a continuing arrangement, neither a process nor a series of actions proceeding at a starting point and ending with a conclusion.
CIA FBI NSA Personnel Active in Scientology: https://i.imgur.com/acu2Eti.png When you consider the number of forces that can be contained within a single “political action group” in the form on a “boutique investment firm,” where all sides of political arguments are predetermined by a selected group of actors who have been planted, compromised or leveraged in some way in order to control the way they spin their message. https://i.imgur.com/tU4MD4S.png The evidence of this coordinated effort is overwhelming and the “consensus” that you see on TV, in sports, in Hollywood, in the news and on the Internet is fabricated.
Under the guise of a fake account a posting is made which looks legitimate and is towards the truth is made - but the critical point is that it has a VERY WEAK PREMISE without substantive proof to back the posting. Once this is done then under alternative fake accounts a very strong position in your favour is slowly introduced over the life of the posting. It is IMPERATIVE that both sides are initially presented, so the uninformed reader cannot determine which side is the truth. As postings and replies are made the stronger 'evidence' or disinformation in your favour is slowly 'seeded in.' Thus the uninformed reader will most likely develop the same position as you, and if their position is against you their opposition to your posting will be most likely dropped. However in some cases where the forum members are highly educated and can counter your disinformation with real facts and linked postings, you can then 'abort' the consensus cracking by initiating a 'forum slide.'
When you find yourself feeling like common sense and common courtesy aren’t as common as they ought to be, it is because there is a massive psychological operation controlled from the top down to ensure that as many people as possible are caught in a “tension based” mental loop that is inflicted on them by people acting with purpose to achieve goals that are not in the interest of the general population, but a method of operating in secret and corrupt manner without consequences. Notice that Jeffrey Katzenberg, of Disney, who is intertwined with Allen & Co funds the Young Turks. He is the perfect example of the relationship between media and politics.
Katzenberg has also been involved in politics. With his active support of Hillary Clinton and Barack Obama, he was called "one of Hollywood's premier political kingmakers and one of the Democratic Party's top national fundraisers."
Last week, former DreamWorks Animation CEO Jeffrey Katzenberg’s new mobile entertainment company WndrCo was part of a $20 million funding round in TYT Network, which oversees 30 news and commentary shows covering politics, pop culture, sports and more. This includes the flagship “The Young Turks” program that streams live on YouTube every day. Other investors in the round included venture capital firms Greycroft Partners, E.ventures and 3L Capital, which led the round. This brings total funding for Young Turks to $24 million.
Hollywood activism long has been depicted as a club controlled by a handful of powerful white men: Katzenberg, Spielberg, Lear, David Geffen, Haim Saban and Bob Iger are the names most often mentioned. But a new generation of power brokers is ascendant, including J.J. Abrams and his wife, Katie McGrath, cited for their personal donations and bundling skills; Shonda Rhimes, who held a get-out-the-vote rally at USC's Galen Center on Sept. 28 that drew 10,000 people; CAA's Darnell Strom, who has hosted events for Nevada congresswoman Jacky Rosen and Arizona congresswoman Kyrsten Sinema; and former Spotify executive Troy Carter, who held three fundraisers for Maryland gubernatorial candidate Ben Jealous (Carter also was a fundraiser for President Obama).
Viacom, after splitting off from Les Moonves Les Moonves ' CBS , still holds Paramount Pictures, and that movie studio in December agreed to acquire DreamWorks SKG, the creative shop founded by the Hollywood triumvirate of Steven Spielberg, David Geffen and Jeffrey Katzenberg (a former exec at The Walt Disney Co.). DreamWorks Animation had been spun off into a separate company. Now it's time for Freston to make back some money--and who better to do a little business with than George Soros? The billionaire financier leads a consortium of Soros Strategic Partners LP and Dune Entertainment II LLC, which together are buying the DreamWorks library--a collection of 59 flicks, including Saving Private Ryan, Gladiator, and American Beauty.
Market Strategies Newsletter - Special Daily Edition For Trading December 11th FED DAY Trump Impeachment Moves Forward Questions about Tariffs Join Us Every Day, Link Below Today’s market was another boring affair with questions about the end of the week tariffs, the typical pre-Fed decision, regardless of the known result, and the general lack of any real meaning to the Impeachment moving forward. We made the low -105 within the first 15 minutes and then rallied to the high +40 by 11:15. The rest of the day was like watching paint dry with moves of 25 in each direction dominating the trading. At the close the DJIA was -27.88 (.10%), NASDAQ -5.66 (.07%), S&P 500 -3.44 (.11%), the Russell +2.10 (.13%) and the DJ Transports the big loser -46.64 (.44%). The economic numbers today were unimpressive with non-farm productivity declined by .2% while unit labor costs increased 2.5%, cause to expect margin pressures for business. Tomorrow we have the FMOC decision (yawn), CPI, and MBA mortgage applications. Market internals were as you would expect at 1:1. The DJIA was 16 up, 14 lower with the BA -21 and MMM -15DPs. On the upside we had UNH +14 and AAPL +11DPs. Our “open forum” on Discord, which allows me to interact with subscribers and others to allow direct questions and chart opinions on just about any stock, continues to grow with more participants every day. It is informative and allows me to share insights as the market is open and moving. The link is: https://discord.gg/ATvC7YZ and I will be there and active from before the open and all day. It’s a great place to share ideas and gain some insights. SECTORS: Other names in the news: We started with the news from AutoZone: AZO with a beat top and bottom and solid guidance. The stock finished $1,250 +81.00 (6.9%) followed by SFIX with good numbers last night and gave up a little of the late gains but finished the day +1.21 (4.8%). NFLX was downgraded by Needham based on their projections for a loss of up to 4 million U.S. subs. The stock, down from $385 mid-July fell another $9.38 (3.1%) to close $293.12. Conn’s, the furniture and consumer electronics retailer, was downgraded by KeyBanc after the Q3 earnings report. The stock, which went from $6.00 in late 2016 to trade higher for a 2 year move to $42.65, has made the round-trip and finished the day today $13.65 -6.85 (33.41%). FRAN, the fashion apparel firm, in the middle of a turn-around plan reported improved, but not good enough for Wall Street, fell to $12.44 -7.39 (37.27%). Also reporting after the close was GameStop: GME, the seller of electronic games and has already fallen from a peak of $57.74 in late 2013 in a steady decline to $3.28 before a brief rally back to $6.92 missed (again) and after closing $6.51, fell as low as $5.00 before finishing $5.57 -.94 (14.4%). This company looks to me like a death-spiral after missing the move away from over the counter sales to streaming of the game products. BIOPHARMA: was HIGHER with only MYL -.33, and TEVA - .33 (3.38%) the losers. The biggest gainer was ICPT +4.01 (3.62%), followed by LABU +2.00 (3.53%). The IBB was $120.10 +.69 (.58%). CANNABIS: stocks were LOWER again as GWPH, the only pharma company in the group +$6.36 (6.62%). The biggest loser was PYX -.65 (8.66%), and yesterday’s big winner CGC -1.24 (5.82%). Even KERN, the compliance software firm was lower today 11.60 -.29 (2.46%). Since mid-November, the stock has moved from $6.00 to trade as high as $13.50. MJ was $17.07 -.33 (1.9%). DEFENSE: was MIXED with LMT +2.01, GD -2.89, TXT -.27, UTX -.82, NOC +.45, BWXT -.25, TDY +2.39, ITA $226.53 -.52 (.23%). RETAIL was MIXED with the stores higher and the brands lower. M +.24, JWN + .29, KSS unchanged and DDS +1.28. RL was +.75, UAA -.03, LULU -.78, TPR -.27, CPRI -.61 and XRT $44.91 -.02 (.04%). FAANG and Big Cap: were MIXED with GOOGL -.10, AMZN – 10.51, AAPL +1.58, FB -.47, NFLX (see above) -9.39 (3.1%), NVDA +1.56, TSLA +9.47 (2.79%), BABA +1.56, BIDU -.26, BOX -.05, IBM -.22, BA -3.31, CAT +.04 and XLK $87.37 +.07 (.08%). FINANCIALS were MIXED with GS - .01, JPM - .01, BAC - .02, MS -.05, C +.45, PNC +1.90, AIG -.59, TRV +.09, AXP +.44 and XLF $30.30 +.01 (.03%). OIL, $59.24 + .22. Today’s action was mostly just a quiet day for Oil and the other energy markets. Nat Gas was a shade higher and the stocks were mixed. I’m still interested in getting long UNG, but I’d like to see a bit of stability first, or at least a test of yesterday’s low. XLE was $59.77 + .12 (.20%). METALS, GOLD: $1,468.10 +3.20. We have fallen right back down to the most recent, and most important area of support around $1,450. I think we can see another test of $1,490 -$1,500 again. Current range is between 1450 -1490. BITCOIN: closed $7,215 -105. We broke to the upside but ran into a brick wall just under $8,000. After having a GTC order @ $9.85 since we sold on 11/5, we finally got filled on the first 350 shares. I will add another 400 either higher or lower. GBTC closed $8.67 - .13 today. Tomorrow is another day. CAM
Bitcoin's Fatal Linkage To Fiat: The Number Of Bitcoin ATMs Has Now Climbed Above 5,500
http://www.cypherpunklabs.com/bitcoins-fatal-linkage-to-fiat-the-number-of-bitcoin-atms-has-now-climbed-above-5500/ Perhaps one of the fastest growing sectors of the cryptocurrency industry is Bitcoin ATMs. In November 2013 there was just a single Bitcoin ATM on the entire planet. It took until June 2014 for the number of ATMs to climb above 100, and in February 2017 this number climbed above 1,000. Since then ATMs have been installed at a rapid pace worldwide, and now the total number of Bitcoin ATMs has climbed above 5,500. Many people may look at this and say this is a good trend for Bitcoin adoption, but the reality is darker. The rise in Bitcoin ATMs is solid evidence of Bitcoin’s fatal linkage to fiat, a linkage which injects know your customer (KYC) regulations and centralization into the crypto space. First for the argument that the proliferation of Bitcoin ATMs is good. ATMs are useful for converting between fiat and Bitcoin, raising awareness about Bitcoin and making it easier for investors to buy Bitcoin, which should supposedly increase Bitcoin’s price and demand. Also, some may argue the ATMs increase Bitcoin’s use as a currency, since the ATMs allow people to quickly convert Bitcoin to cash if they need to buy food or pay rent. The truth is that Bitcoin ATMs are injecting heavy regulations and centralization into the crypto ecosystem. Anyone who uses a Bitcoin ATM generally has to turn over a full suite of identification information, including their photo ID, birthday, and social security number. This makes it so that Bitcoins purchased at an ATM can be directly linked to the individual that purchased them. Blockchain forensics, which is now a multi-million dollar industry, are then used to track how exactly these Bitcoins are used. In combination with the identification information collected at the ATM, the blockchain forensics can be used to build cases against users for illegal activity, such as if the Bitcoins enter a darknet market, or if the Bitcoins are used for money laundering and tax fraud. The worst part is that blockchain forensics can follow the Bitcoins many skips down the line, so that even if an ATM user did not illegally use the Bitcoins, they could still end up in hot water and have to divulge information to law enforcement to get out of trouble. Essentially, if Bitcoins are obtained at an ATM, and then those Bitcoins are used for anything illegal at some point in the future even if its long after the original purchaser spent them, the police at least have a lead with the person who got the Bitcoins from the ATM, and they can interrogate that person and try to find who the Bitcoins went to next and so forth. The same is true for selling Bitcoins at an ATM. Even if the Bitcoins were legally obtained, but originated from the deep web at some point, the person selling the Bitcoins could be in hot water. Another way to think of this is that Bitcoin ATMs are choking the Bitcoin economy, as well as cryptocurrency exchanges like Coinbase. Due to Bitcoin’s fatal link to fiat, Bitcoin users usually have no choice but to use an exchange or ATM to buy/sell, at which point all of their identification information is logged. This gives law enforcement and regulars an easy to use map of the entire crypto economy, with enough leads to blackmail everyone using Bitcoin, and ultimately the power to cripple Bitcoin and impose heavy regulations upon it. On a related note, the ease of using Bitcoin ATMs and exchanges in combination with regulations have destroyed the peer to peer Bitcoin dealing economy. It was far more decentralized and healthier back when there was an expansive network of individuals exchanging Bitcoin. Now the right to exchange Bitcoin has been centralized into the hands of ATM operators and exchanges who are more than happy to doxx their customers and pay millions for blockchain forensics to compromise their customer’s freedom. Quite literally, Bitcoin ATMs are poisoning Bitcoin from the inside. They are centralizing the crypto economy, making it easy to regulate, and making Bitcoin users highly dependent on fiat. Zooming out, as the number of Bitcoin ATMs has proliferated, the original dream of a decentralized peer to peer currency is decreasing. At this point Bitcoin is barely usable as a currency, there are some sites that accept it as well as a decreasing amount of individuals who exchange Bitcoin peer to peer. Generally people are forced to sell the Bitcoin for fiat if they are ever going to obtain value from it, turning Bitcoin into nothing more than another speculative asset like gold and stocks. Perhaps the dream of Bitcoin one day being a true currency is not totally dead, and maybe one day Bitcoin can be exchanged conveniently for goods and services in the mainstream. However, Bitcoin will have to integrate some serious changes to increase scalability and speed before that can happen, and if it does not happen soon enough this centralization trend will continue until Bitcoin has no potential to ever become an independent and decentralized currency.
Bitcoin, dogecoin. How I tried to make my fortune in 2014 with the sweat of my computer.
https://preview.redd.it/mv21lvsa3do31.jpg?width=1280&format=pjpg&auto=webp&s=51bf5296a06eedc178079cf0b3ab4c3cfc44f271 Make money just by working on your computer: the rise of electronic currencies, in the wake of bitcoin, can be a little dream, especially in times of crisis. We tried the experiment. Wealth at your fingertips? Not for everybody. Reading time: 6 min. We have known at least since March 2013, with the soaring Bitcoin (BTC) price during the closing of Cypriot banks: electronic currencies, it has not much virtual. Since the creation of the enigmatic Satoshi Nakamoto serves as a safe haven, a playground for speculators, interests the States and even makes it possible to pay for his trip to the space where his beer, bigger world would dare to pretend that it only serves to buy prohibited substances on SilkRoad - if it ever was. At the end of November, James Howells was mocked a lot, this Brit, caught in a household frenzy, inadvertently threw a hard disk containing 7,500 bitcoins, the equivalent of 4.8 million euros. A small fortune now lost in the depths of the Docksway dump near Newport. Nevertheless, before causing the consternation of the global Internet, Jamie still had the nose to undermine the BTC at a time when the experience mobilized a handful of hardcore geeks. Since the rise (sawtooth) bitcoin, each unit currently weighs more than 800 dollars, nearly thirty cryptocurrencies have emerged. Is it possible, this year again, to let this promising, volatile and risky train pass, or to fall into
Choose your electronic motto.
All are based on the same principle: to summarize (very) big features , the issuance of money is governed by an algorithm, and the new corners put in circulation reward the resolution, by participants in a network of peer and mathematical problems, including the validation and archiving of transactions, which are public . Mining a cryptocurrency is like putting the computing power of your computer in the service of the network.
Since the program is decreasing , the mining becomes more and more difficult with time (and with the increase of the number of participants): to hope to make his pelote via the only computational activity, one must either have to at its disposal a large fleet of machines, to be a miner from the first hour. Exit the bitcoin, long since out of the reach of a personal computer.
I similarly gave up the litecoin and peercoin, already well launched (they date respectively 2011 and 2012), to set my heart on one of the most recent currencies - and certainly the hippest of the moment: the dogecoin.
As its name suggests, the cryptocurrency favorite Shiba Inus from around the world is a tribute to the Doge, one of the most famous memes of 2013, with its captions in Comic Sans, the font most sorry for the web. A geek joke, therefore, except that - the unfathomable mysteries of the Internet - its value jumped 900% in the third week of December, and she suffered a Christmas robbery online.
Admittedly, at the time when these lines are written, the dogecoin caps at 0.00023 dollars  - its quite ridiculous (and quite depressing), but even if you bet on the future, so much to go frankly.
2. The hands in the engine the billboard.
From there, things get tough (a little). Installing an electronic purse on ones computer is not very complicated (the software is available for Windows, MacOS, Android or, for the more adventurous, on a repository to compile under Linux). It is also possible to use an online wallet, but it is more risky (except, perhaps, when one is called James Howells). When opened for the first time, the purse automatically synchronizes with the Dogecoin network (be careful, it can be long), which gives you a payment address (we can generate more later).
The two most common ways to undermine electronic money are to use the computing power of the computers microprocessor (CPU) or, more efficiently, that of the graphics card processor (GPU). In the first case, the program is simple to install; in the second, it is necessary to choose the most adapted to its material . There are, thankfully, a lot of online tutorials. Still, to operate the corner board requires in all cases to trade the comfort of the GUI for aridity, so confusing to the layman, command lines - we have nothing for nothing.
Finally, at work alone, we prefer collaboration. Mining is best done in groups, or rather in pool: it distributes the gains, of course, but also the difficulty. For the dogecoin as for all the crypto-currencies, the pools are numerous. A quick tour of a dedicated section of the Reddit community site can help you make your choice.
3. Extension of the field of struggle.
And after? After, we can rest, since it is the machine that works. But the truth of a cryptocurrency - even at the exceptionally high LOL and LOL rates of the Shiba Inu - is cruel and brutal: not all computers are equal. Or rather, some are more equal than others. For while you heat your CPU or your graphics card to grapple some unfortunate corners, others will sweep the game thanks to specialized integrated circuits, computing capabilities much higher.
If the game of buying and reselling corners is basically just another stock exchange mechanism, less the intervention of the central banks - what is at stake, and the big political question they ask: are we certain to prefer speculation pure and perfect to monetary policies, however questionable they may be? -, production, it is the law of the strongest (in calculation). There are even lethal weapons at $ 10,000 each, with which your processors are like mosquitoes in front of an A bomb.
And if you think it does not matter because after all, it does not cost you anything, think again: the components, like humans, wear out faster when they work at full speed, and the bill of electricity can quickly grow. The profitability of the case is anything but certain, as evidenced by the results of online calculators. (Needless to say, our laughing dogecoin does not stand up to this kind of simulation.)
Much more boring, from a collective point of view: the carbon footprint, current and above all expected, of electronic currencies worries more and more. Last spring, Bloomberg estimated that the energy consumption of the Bitcoin network was equivalent to that of 31,000 US households. Not sure, according to the site, that their emission is less damaging to the environment than have been some physical currencies.
For exciting to analyze that is the emergence of cryptocurrencies, it is better to ask now about their cost, economic and ecological. To see it as a potential source of income, except for being a very early adopter with a hollow nose, an individual with a lot of computational capital or a clever trader, you have to make a point.
If the recurrent comparison with the famous Ponzi pyramid  is discussed (after all, the decentralized currencies do not make promises), remains that, as long as the value does not collapse, the system benefits mainly to the first entrants - except James Howells.
As the Bitcoin.fr site aptly states: all this is just an experiment, invest only the time and money you can afford to lose. LOLs love was not a worse reason than another to experiment, so I finally submitted my laptop to four days and three nights of intense activity, which makes me happy. owner of a good half a thousand dogecoins. Either the equivalent of 0.115 dollar, or 0.08 euro. It is obviously not worth the electricity consumed to generate them, it increases my carbon footprint, but it amuses my entourage. But laughter is, as everyone knows, a safe bet in times of crisis, less volatile than a real bitcoin.
And then, after all, you never know.
1. For explanations more provided (the case is quite complex), refer, for example, to the series of very detailed notes devoted to blogger Turblog.
2. And as such, searchable by everyone. It is the identity of the users that is not known, unless they reveal it, hence the reputation of anonymity (relative, therefore) cryptocurrencies.
3. In the case of bitcoin, the maximum of 21 million units should be reached around 2140.
4. For a day-to-day follow-up, see the CoinMarketCap site which lists the exchange rates of crypto-currencies, based on the dollar value of bitcoin.
5. We discover then, unfortunately, that some graphics cards do not allow the mining. This is the case for the author of these lines, reduced to working in conditions of extreme computer deprivation.
6. Comparison which is at the heart of a hilarious note on the ponzicoin, signed by the economic journalist Matthew OBrien, on The Atlantic (to read if you intend seriously to invest in the dogecoin).
The Great Bitcoin Bull Market Of 2017 by Trace Mayer
By: Trace Mayer, host of The Bitcoin Knowledge Podcast. Originally posted here with images and Youtube videos. I just got back from a two week vacation without Internet as I was scouring some archeological ruins. I hardly thought about Bitcoin at all because there were so many other interesting things and it would be there when I got back. Jimmy Song suggested I do an article on the current state of Bitcoin. A great suggestion but he is really smart (he worked on Armory after all!) so I better be thorough and accurate! Therefore, this article will be pretty lengthy and meticulous. BACKGROUND As I completely expected, the 2X movement from the New York Agreement that was supposed to happen during the middle of my vacation flopped on its face because Jeff Garzik was driving the clown car with passengers willfully inside like Coinbase, Blockchain.info, Bitgo and Xapo and there were here massive bugS and in the code and miners like Bitmain did not want to allocate $150-350m to get it over the difficulty adjustments. I am very disappointed in their lack of integrity with putting their money where their mouths are; myself and many others wanted to sell a lot of B2X for BTC! On 7 December 2015, with Bitcoin trading at US$388.40, I wrote The Rise of the Fourth Great Bitcoin Bubble. On 4 December 2016, with Bitcoin trading at US$762.97, I did this interview:
As of 26 November 2017, Bitcoin is trading around US$9,250.00. That is an increase of about 2,400% since I wrote the article prognosticating this fourth great Bitcoin bull market. I sure like being right, like usual (19 Dec 2011, 1 Jul 2013), especially when there are financial and economic consequences. With such massive gains in such a short period of time the speculative question becomes: Buy, Hold or Sell? FUNDAMENTALS Bitcoin is the decentralized censorship-resistant Internet Protocol for transferring value over a communications channel. The Bitcoin network can use traditional Internet infrastructure. However, it is even more resilient because it has custom infrastructure including, thanks to Bitcoin Core developer Matt Corrallo, the FIBRE network and, thanks to Blockstream, satellites which reduce the cost of running a full-node anywhere in the world to essentially nothing in terms of money or privacy. Transactions can be cheaply broadcast via SMS messages. SECURITY The Bitcoin network has a difficulty of 1,347,001,430,559 which suggests about 9,642,211 TH/s of custom ASIC hardware deployed. At a retail price of approximately US$105/THs that implies about $650m of custom ASIC hardware deployed (35% discount applied). This custom hardware consumes approximately 30 TWh per year. That could power about 2.8m US households or the entire country of Morocco which has a population of 33.85m. This Bitcoin mining generates approximately 12.5 bitcoins every 10 minutes or approximately 1,800 per day worth approximately US$16,650,000. Bitcoin currently has a market capitalization greater than $150B which puts it solidly in the top-30 of M1 money stock countries and a 200 day moving average of about $65B which is increasing about $500m per day. Average daily volumes for Bitcoin is around US$5B. That means multi-million dollar positions can be moved into and out of very easily with minimal slippage. When my friend Andreas Antonopolous was unable to give his talk at a CRYPSA event I was invited to fill in and delivered this presentation, impromptu, on the Seven Network Effects of Bitcoin. These seven network effects of Bitcoin are (1) Speculation, (2) Merchants, (3) Consumers, (4) Security [miners], (5) Developers, (6) Financialization and (7) Settlement Currency are all taking root at the same time and in an incredibly intertwined way. With only the first network effect starting to take significant root; Bitcoin is no longer a little experiment of magic Internet money anymore. Bitcoin is monster growing at a tremendous rate!!
SPECULATION For the Bitcoin price to remain at $9,250 it requires approximately US$16,650,000 per day of capital inflow from new hodlers. Bitcoin is both a Giffen good and a Veblen good. A Giffen good is a product that people consume more of as the price rises and vice versa — seemingly in violation of basic laws of demand in microeconomics such as with substitute goods and the income effect. Veblen goods are types of luxury goods for which the quantity demanded increases as the price increases in an apparent contradiction of the law of demand. There are approximately 16.5m bitcoins of which ~4m are lost, ~4-6m are in deep cold storage, ~4m are in cold storage and ~2-4m are salable. (http://www.runtogold.com/images/lost-bitcoins-1.jpg) (http://www.runtogold.com/images/lost-bitcoins-2.jpg) And forks like BCash (BCH) should not be scary but instead be looked upon as an opportunity to take more territory on the Bitcoin blockchain by trading the forks for real bitcoins which dries up more salable supply by moving it, likely, into deep cold storage. According to Wikipedia, there are approximately 15.4m millionaires in the United States and about 12m HNWIs ($30m+ net worth) in the world. In other words, if every HNWI in the world wanted to own an entire bitcoin as a 'risk-free asset' that cannot be confiscated, seized or have the balance other wise altered then they could not. For wise portfolio management, these HNWIs should have at least about 2-5% in gold and 0.5-1% in bitcoin. Why? Perhaps some of the 60+ Saudis with 1,700 frozen bank accounts and about $800B of assets being targetted might be able to explain it to you. In other words, everyone loves to chase the rabbit and once they catch it then know that it will not get away. RETAIL There are approximately 150+ significant Bitcoin exchanges worldwide. Kraken, according to the CEO, was adding about 6,000 new funded accounts per day in July 2017. Supposedly, Coinbase is currently adding about 75,000 new accounts per day. Based on some trade secret analytics I have access to; I would estimate Coinbase is adding approximately 17,500 new accounts per day that purchase at least US$100 of Bitcoin. If we assume Coinbase accounts for 8% of new global Bitcoin users who purchase at least $100 of bitcoins (just pulled out of thin error and likely very conservative as the actual number is perhaps around 2%) then that is approximately $21,875,000 of new capital coming into Bitcoin every single day just from retail demand from 218,750 total new accounts. What I have found is that most new users start off buying US$100-500 and then after 3-4 months months they ramp up their capital allocation to $5,000+ if they have the funds available. After all, it takes some time and practical experience to learn how to safely secure one's private keys. To do so, I highly recommendBitcoin Core (network consensus and full validation of the blockchain), Armory (private key management), Glacier Protocol (operational procedures) and a Puri.sm laptop (secure non-specialized hardware). WALL STREET There has been no solution for large financial fiduciaries to invest in Bitcoin. This changed November 2017. LedgerX, whose CEO I interviewed 23 March 2013, began trading as a CFTC regulated Swap Execution Facility and Derivatives Clearing Organization. The CME Group announced they will begin trading in Q4 2017 Bitcoin futures. The CBOE announced they will begin trading Bitcoin futures soon. By analogy, these institutional products are like connecting a major metropolis's water system (US$90.4T and US$2 quadrillion) via a nanoscopic shunt to a tiny blueberry ($150B) that is infinitely expandable. This price discovery could be the most wild thing anyone has ever experienced in financial markets. THE GREAT CREDIT CONTRACTION The same week Bitcoin was released I published my book The Great Credit Contraction and asserted it had now begun and capital would burrow down the liquidity pyramid into safer and more liquid assets. (http://www.runtogold.com/images/Great-Credit-Contraction-Liquidity-Pyramid.jpg) Thus, the critical question becomes: Is Bitcoin a possible solution to the Great Credit Contraction by becoming the safest and most liquid asset? BITCOIN'S RISK PROFILE At all times and in all circumstances gold remains money but, of course, there is always exchange rate risk due to price ratios constantly fluctuating. If the metal is held with a third-party in allocated-allocated storage (safest possible) then there is performance risk (Morgan Stanley gold storage lawsuit). But, if properly held then, there should be no counter-party risk which requires the financial ability of a third-party to perform like with a bank account deposit. And, since gold exists at a single point in space and time therefore it is subject to confiscation or seizure risk. Bitcoin is a completely new asset type. As such, the storage container is nearly empty with only $150B. And every Bitcoin transaction effectively melts down every BTC and recasts it; thus ensuring with 100% accuracy the quantity and quality of the bitcoins. If the transaction is not on the blockchain then it did not happen. This is the strictest regulation possible; by math and cryptography! This new immutable asset, if properly secured, is subject only to exchange rate risk. There does exist the possibility that a software bug may exist that could shut down the network, like what has happened with Ethereum, but the probability is almost nil and getting lower everyday it does not happen. Thus, Bitcoin arguably has a lower risk profile than even gold and is the only blockchain to achieve security, scalability and liquidity. To remain decentralized, censorship-resistant and immutable requires scalability so as many users as possible can run full-nodes. (http://www.runtogold.com/images/ethereum-bitcoin-scability-nov-2017.png) TRANSACTIONS Some people, probably mostly those shilling alt-coins, think Bitcoin has a scalability problem that is so serious it requires a crude hard fork to solve. On the other side of the debate, the Internet protocol and blockchain geniuses assert the scalability issues can, like other Internet Protocols have done, be solved in different layers which are now possible because of Segregated Witness which was activated in August 2017. Whose code do you want to run: the JV benchwarmers or the championship Chicago Bulls? As transaction fees rise, certain use cases of the Bitcoin blockchain are priced out of the market. And as the fees fall then they are economical again. Additionally, as transaction fees rise, certain UTXOs are no longer economically usable thus destroying part of the money supply until fees decline and UTXOs become economical to move. There are approximately 275,000-350,000 transactions per day with transaction fees currently about $2m/day and the 200 DMA is around $1.08m/day. (http://www.runtogold.com/images/bitcoin-transaction-fees-nov-2017.png) What I like about transaction fees is that they somewhat reveal the financial health of the network. The security of the Bitcoin network results from the miners creating solutions to proof of work problems in the Bitcoin protocol and being rewarded from the (1) coinbase reward which is a form of inflation and (2) transaction fees which is a form of usage fee. The higher the transaction fees then the greater implied value the Bitcoin network provides because users are willing to pay more for it. I am highly skeptical of blockchains which have very low transaction fees. By Internet bubble analogy, Pets.com may have millions of page views but I am more interested in EBITDA. DEVELOPERS Bitcoin and blockchain programming is not an easy skill to acquire and master. Most developers who have the skill are also financially independent now and can work on whatever they want. The best of the best work through the Bitcoin Core process. After all, if you are a world class mountain climber then you do not hang out in the MacDonalds play pen but instead climb Mount Everest because that is where the challenge is. However, there are many talented developers who work in other areas besides the protocol. Wallet maintainers, exchange operators, payment processors, etc. all need competent developers to help build their businesses. Consequently, there is a huge shortage of competent developers. This is probably the largest single scalability constraint for the ecosystem. Nevertheless, the Bitcoin ecosystem is healthier than ever before. (http://www.runtogold.com/images/bitcoin-ecosystem.jpg)(/images/bitcoin-ecosystem-small.jpg) SETTLEMENT CURRENCY There are no significant global reserve settlement currency use cases for Bitcoin yet. Perhaps the closest is Blockstream's Strong Federations via Liquid. PRICE There is a tremendous amount of disagreement in the marketplace about the value proposition of Bitcoin. Price discovery for this asset will be intense and likely take many cycles of which this is the fourth. Since the supply is known the exchange rate of Bitcoins is composed of (1) transactional demand and (2) speculative demand. Interestingly, the price elasticity of demand for the transactional demand component is irrelevant to the price. This makes for very interesting dynamics! (http://www.runtogold.com/images/bitcoin-speculation.jpg) On 4 May 2017, Lightspeed Venture Partners partner Jeremy Liew who was among the early Facebook investors and the first Snapchat investor laid out their case for bitcoin exploding to $500,000 by 2030. On 2 November 2017, Goldman Sachs CEO Lloyd Blankfein (https://www.bloomberg.com/news/articles/2017-11-02/blankfein-says-don-t-dismiss-bitcoin-while-still-pondering-value)said, "Now we have paper that is just backed by fiat...Maybe in the new world, something gets backed by consensus." On 12 Sep 2017, JP Morgan CEO called Bitcoin a 'fraud' but conceded that "(http://fortune.com/2017/09/12/jamie-dimon-bitcoin-cryptocurrency-fraud-buy/)Bitcoin could reach $100,000". Thus, it is no surprise that the Bitcoin chart looks like a ferret on meth when there are such widely varying opinions on its value proposition. I have been around this space for a long time. In my opinion, those who scoffed at the thought of $1 BTC, $10 BTC (Professor Bitcorn!), $100 BTC, $1,000 BTC are scoffing at $10,000 BTC and will scoff at $100,000 BTC, $1,000,000 BTC and even $10,000,000 BTC. Interestingly, the people who understand it the best seem to think its financial dominance is destiny. Meanwhile, those who understand it the least make emotionally charged, intellectually incoherent bearish arguments. A tremendous example of worldwide cognitive dissonance with regards to sound money, technology and the role or power of the State. Consequently, I like looking at the 200 day moving average to filter out the daily noise and see the long-term trend. (http://www.runtogold.com/images/bitcoin-price-200dma-nov-2017.png) Well, that chart of the long-term trend is pretty obvious and hard to dispute. Bitcoin is in a massive secular bull market. The 200 day moving average is around $4,001 and rising about $30 per day. So, what do some proforma situations look like where Bitcoin may be undervalued, average valued and overvalued? No, these are not prognostications. (http://www.runtogold.com/images/bitcoin-price-pro-forma.png) Maybe Jamie Dimon is not so off his rocker after all with a $100,000 price prediction. We are in a very unique period of human history where the collective globe is rethinking what money is and Bitcoin is in the ring battling for complete domination. Is or will it be fit for purpose? As I have said many times before, if Bitcoin is fit for this purpose then this is the largest wealth transfer in the history of the world. CONCLUSION Well, this has been a brief analysis of where I think Bitcoin is at the end of November 2017. The seven network effects are taking root extremely fast and exponentially reinforcing each other. The technological dominance of Bitcoin is unrivaled. The world is rethinking what money is. Even CEOs of the largest banks and partners of the largest VC funds are honing in on Bitcoin's beacon. While no one has a crystal ball; when I look in mine I see Bitcoin's future being very bright. Currently, almost everyone who has bought Bitcoin and hodled is sitting on unrealized gains as measured in fiat currency. That is, after all, what uncharted territory with daily all-time highs do! But perhaps there is a larger lesson to be learned here. Riches are getting increasingly slippery because no one has a reliable defined tool to measure them with. Times like these require incredible amounts of humility and intelligence guided by macro instincts. Perhaps everyone should start keeping books in three numéraires: USD, gold and Bitcoin. Both gold and Bitcoin have never been worth nothing. But USD is a fiat currency and there are thousands of those in the fiat currency graveyard. How low can the world reserve currency go? After all, what is the risk-free asset? And, whatever it is, in The Great Credit Contraction you want it! What do you think? Disagree with some of my arguments or assertions? Please, eviscerate them on Twitter or in the comments!
Bitcoin Volatility Metrics Are Like November 2018 All Over Again Omkar Godbole Jul 14, 2020 Bitcoin is locked in a low-volatility squeeze similar to one seen ahead of a 40% price crash in November The above chart shows CoinDesk's Bitcoin Price Index for Dec. 1, 2013 to Dec. 31, 2013. As of Thursday, bitcoin's value was just above $16,500, according to CoinDesk.Based on that value, one Specifically, the BitCoin currency – the most popular of the digital currencies – started the year of 2013 at levels of $13 per a BitCoin and rocketed to $230 on 9 April 2013 potentially creating an absurd profit of almost 1700% in less than four months. Later the same year, the price soared even higher to $395 on 9 November 2013, which Discover historical prices for BTC-USD stock on Yahoo Finance. View daily, weekly or monthly format back to when Bitcoin USD stock was issued. Babin-Tremblay said while 2013 was an important year for bitcoin, it is just beginning. He added there are plans to eventually expand the market and create derivatives and even futures contracts.
Will Bitcoin Survive In A Stock Or Dollar CRASH? - Trace Mayer On Bitcoin's Potential
Published on Nov 11, 2018. Category ... [Bitcoin BTC Technical Analysis Price ... 10:34. Sajad Recommended for you. 10:34. Bitcoin price History 2013-2018. - Duration: 2:04. Ico ... Published on Nov 4, 2013. A thriller about a genius algorithm builder who dared to stand up against Wall Street. Haim Bodek, aka The Algo Arms Dealer. After Quants: the Alchemists of Wall Street ... Published on Nov 5, 2013 Vitalik Buterin explains what quantum computers are, what they can and cannot do, and the implications they may have to the future of Bitcoin. The lecture took place on ... Where will bitcoin go? Today (28 Nov 2013) we are in the most recent mania phase for bitcoin as the currency becomes an asset class among financial types. In the future other features will bring ... Kitco News: Metals and Stock Strategies for 2013. Kitco News: Metals and Stock Strategies for 2013 ... Published on Nov 23, 2012. Kitco News: Metals and Stock Strategies for 2013 ... 'Fake Bitcoin ...