Title: From Bitcoin To Hedera Hashgraph (Documentary) Hidden Secrets Of Money Episode 8 Source:
[None] URL Source:https://www.youtube.com/watch?v=SF362xxcfdk&t=792s Published:Jan 15, 2021 Author:GoldSilver (w/ Mike Maloney) Post Date:2021-01-15 13:29:15 by BTP Holdings Keywords:None Views:386 Comments:13
Bonus Features: www.hiddensecretsofmoney. co m Today, mankind stands at a crossroads, and the path that humanity chooses may have a greater impact on our freedom and prosperity than any event in history. In 2008 a new technology was introduced that is so important that its destiny, and the destiny of mankind are inextricably linked. It is so powerful that if captured and controlled, it could enslave all of humanity. But if allowed to remain free and flourish - it could foster unimaginable levels of peace and prosperity. It has the power to replace all financial systems globally, to supplant ninety percent of Wall St, and to provide some functions of government. It has no agenda. It's always fair and impartial. It can not be manipulated, subverted, corrupted or cheated. And - it inverts the power structure and places control of one's destiny in the hands of the individual. In the future, when we look back at the 2.6 million-year timeline of human development and the major turning points that led to modern civilization - the creation of farming, the domestication of animals, the invention of the wheel, the harnessing of electricity and the splitting of the atom - the sixty year development of computers, the internet and this new technology will be looked upon as a single event...a turning point that will change the course of human history. It's called Full Consensus Distibuted Ledger Technology, and so far its major use has been for cryptocurrencies such as Bitcoin....but its potential goes far, far beyond that.
The Crypto Revolution: From Bitcoin to Hashgraph is our latest episode of Hidden Secrets of Money. It’s about the evolution of cryptocurrencies and full consensus distributed ledger technology, and how they will change our world. I believe that this video is by far the easiest way for the average person to gain an understanding of what cryptocurrencies are and how they work, but more importantly, the immense power of full consensus distributed ledger technology and the impact it will have on our daily lives.
I have an absolute passion for monetary history and economics, and I love teaching them. Cryptocurrencies are our future, and there is no escaping it… this is the way everything will be done from now on. But, we now stand at a crucial turning point in history. Full consensus ledgers such as Blockchain and Hashgraph have the power to enslave us, or free us… it all depends on how we choose to use them. If we choose to support centralized versions issued by governments and the financial sector we will be granting them more control over our daily lives. Politicians and bureaucrats will be able raise taxes instantly, whenever they want, on every dollar you make as you make them, and every dollar you spend as you spend them. If they think the economy needs stimulating they'll be able to enforce huge negative interest rates, effectively punishing you for not spending everything you earn before you earn it. They'll be able to decide where you can go and where you can’t, what you can buy and what you can’t, and what you can do and whatever they decide you can’t do… and if they don't like you, they can just disconnect you from the monetary system.
So, will the monetary system become fully distributed and help to free mankind, or will it be centralized and enslave us? The choice is in front of us right now, and our decisions will create our future. I believe that this will be a binary outcome, there is no middle ground, it will either be one future or the other. The question is, will it be the future we want? Or the future they want?
I’m a precious metals dealer and one thing I’ve learned is that gold, silver, and now free market decentralized cryptocurrencies, represent freedom. Because of this knowledge I started investing in crypto currencies long ago and also became one of the first precious metals dealers to accept bitcoin as payment for gold and silver. I would really appreciate it if you could share this video with everyone you know. I think it’s very important that as many people as possible find out about the changes to the global monetary system that are happening right now… nothing will affect us more, and everyone’s future depends on it.
I fear it will always be too complex for me to get involved in, but that's extremely interesting. Yes, the question is when the fedgoons will get obnoxious about it at some point. It's never been claimed that BTC is private as in untraceable by the IRS, though it seems a big improvement over greenbacks in that regard so far.
I heard most of this show before falling asleep. Have the tax rats ever caught up with somebody's BTC life and taxed it? The IRS states that it's taxable like money. Insanely, it's true, since the the fedgov tolerates very little competition for its FRN and smashed Liberty Dollar. I tho't it had come back from the grave but can't find any evidence to that effect.
I'm just probing the future and worst-case scenario here, since they seem to come true so much of the time now.
It's never been claimed that BTC is private as in untraceable by the IRS, though it seems a big improvement over greenbacks in that regard so far.
On that score, here's the rub with BTC. It is anonymous, but not private. Sounds contradictory, but the explanation is this: Every single bitcoin transaction ever made is available for public review. The public can see that X amount of bitcoin was xferred from wallet #12345678 to wallet #23456781. They can see when it happened and how much. The public can also see exactly how much bitcoin is in every bitcoin wallet any time they want. This includes hacked bitcoin. Everyone can see that the illicit transfer of bitcoin from the victims wallet to the hackers wallet, and they can see the hacked funds sitting in that wallet. If/when those funds are xferred to another wallet, they can see that too.
What the public cannot see is who has the keys to any wallet. There is no SSN, no name, no photo ID, no DL number or any other identifying info tied to the wallet that can be used to tell who owns what. The exception is if someone publicly discloses a deposit address on, say, a web page. In that case, if on the blockchain a transaction used an address that matches one on someone's web page, then bingo, at that point, it's very reasonably inferred that the owner of the web site also has the key to that wallet, and was involved with every other transaction associated with that wallet.
If the IRS does that investigation and makes that connection, then the guy might be considered involved with all those transactions and whatever consequences that may come with it.
Those who have hacked bitcoin also have the same problem. If they try to cash out their stolen bitcoin by sending it to an exchange, the victims will see that and, if they can identify that it was sent to an exchange, they can then contact the exchange and inquire about the ID of the person who owns the account to which it was xferred. From there they get an email address, phone number and all that, and an arrest could come soon after. That's the case even if the discovery was made many years after the bitcoin was hacked.
That is bitcoin and the same may be true for other cryptos. But some cryptos have seen that issue and have been formulated to be private so the public can't see quite so much. Monero is one such crypto. It has enough data shown so that transaction can be proven between 2 parties - necessary so both parties can plainly see a payment has been made. I don't know the details, but I believe wallet balances can't be viewed and no other transactions can be associated with any other transaction tied to the wallet. Those types of cryptos get a bit of the evil eye.
I heard most of this show before falling asleep. Have the tax rats ever caught up with somebody's BTC life and taxed it? The IRS states that it's taxable like money.
My current understand is that the IRS considers bitcoin/crypto to be potentially taxable at the point it's used to realize some gain. That is, it's redeemed for cash, then they might say it's taxable at that point, provided the redeeming yields more cash than was spent to acquire it previously.
If you buy something with bitcoin instead of converting to cash, I think they say the dollar value of what was bought is the amount that is considered taxable. Something like that. You'll have to ask them what they think. I'm not really sure, of course.
I'm just probing the future and worst-case scenario here, since they seem to come true so much of the time now.
If we get hyper inflation, then those who hedged against it by buying crypto or precious metals would be taxed on the amount they were able to shield from hyper inflation that occurred because of an incompetent government.
On the other hand, if we do have gross hyper inflation, then it also means the government has effectively collapsed, in which case, I'm not sure what what would be left of the IRS to do enforcement.
Thanks for all that, Ping. You can send the law after a BTC thief? Wow. Course that's depending on the person the thief transferred it to being 'forthcoming' with his info. Here's the IRS dope:
So how do you transfer funds to buy BTC? If it has to be from a bank acct, the govt presumably has e-z access to the record of it while auditing you. IIRC the tax goons make you swear to everything under penalty of perjury. Not trying to look for trouble here, just to follow the thing to the end of the line.