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Fort Bitcoin

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posted on Jan, 11 2014 @ 03:23 AM
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Insurance and storage offered for Bitcoin (Virtual Bitcoin Vault)

This BBC article reports that Insurance and safe storage (through encryption) is being offered for Bitcoin. This is the first of its kind.

I suspected years back that Bitcoin had a very bright future. I believe it could be the future globalist currency or a precursor to an evolved digital currency.

China are worried by it as you may well know after the recent stance they have taken regarding this currency. After their decision the Bitcoin value dropped sharply, but then quickly recovered.

One day we may see a huge debt amnesty between states with the advent of a shared digital currency. The debt game I'm sure will continue between those who offer credit and those who have to pay interest; refined to a streamlined "supermarket" literally.

I wonder what would happen in the event that the world did move over to a universal digital currency? Would it be possible to have just one stock market and one central bank? Would it just be trade between private corporations and their shares measured in one Index?

Make no mistake. Bitcoin's future is bright. It was never the alternative currency that would make everything right. I've read enough history to know that the Bitcoin phenomenon has begun in the way that many other revolutionary ideas began that became the tools of state.

You bet all prospect banking and investor eyes are on this currency and they are (if they have not already) going to steal it for themselves.

I'm not actually an enthusiast, just an observer.

Thanks for your time.
edit on 11-1-2014 by Revolution9 because: rearranged sentence.




posted on Jan, 11 2014 @ 03:48 AM
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reply to post by Revolution9
 


I really cannot see why the world would not move to a digital currency, money is #ed it is literally cheap paper.



posted on Jan, 11 2014 @ 03:58 AM
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reply to post by kangajack
 


Exactly, it makes logical sense and would afford huge opportunities on a universal scale. It would "cut a lot of crap" for sure (sorry for the ruthless phrasing).

It is on your assumption that I am conjecturing this development.

I have no real attitude to it as such. It just struck me as plain as day this morning that there are some mighty big intentions.

You know double entry book keeping (the very thing that Capitalism thrives on) was invented by a monk of all people. Hehe!!!



posted on Jan, 11 2014 @ 04:06 AM
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reply to post by Revolution9
 


If I had $5 million dollars right now I would buy $1 million worth of Bitcoin. That's how sure I am of its future.

I am sure there is already a Rothschild involved in Bitcoin if you know what I'm saying, lol.



posted on Jan, 11 2014 @ 07:23 AM
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kangajack
reply to post by Revolution9
 


I really cannot see why the world would not move to a digital currency, money is #ed it is literally cheap paper.


I'd say that's a simple answer. The move to a digital currency requires unquestioned and unshakable faith in the integrity of the digital world remaining intact and functional through and beyond our lifetimes.

For kids and 20 somethings who have never known life without the digital reality? I can see how this can come to be. I've yet to meet someone of my generation, let alone older, who does more than chuckle or smirk at the idea of the net or the entirely 'reality' we see in computers...somehow being taken as rock solid in perpetuity.

Paper money sucks...but paper money doesn't become non-existent by electronic failure, either? It's value might....but the physical representation of that value exists with or without electricity. It's still there in a safe deposit box from 100 years ago ..or 100 years from now..no matter what has happened before or since in the world. Money parked is money sitting dormant. Digital currency becomes ..."You had what?" if the digital world should falter.

I'm thinking this will ultimately reflect generational lines of trust in the world of ether. Some can and some never will.



posted on Jan, 11 2014 @ 08:03 AM
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reply to post by Wrabbit2000
 


That is the same stance i would take when thinking about Bitcoin. I would reluctantly give into the change if change was inevitable.



posted on Jan, 11 2014 @ 08:42 AM
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reply to post by Wrabbit2000
 




Paper money sucks...but paper money doesn't become non-existent by electronic failure, either? It's value might....but the physical representation of that value exists with or without electricity. It's still there in a safe deposit box from 100 years ago ..or 100 years from now..no matter what has happened before or since in the world. Money parked is money sitting dormant. Digital currency becomes ..."You had what?" if the digital world should falter.


You can store you bitcoins on a usb drive that does not need a constant flow of electricity to keep them safe. But if you are suggesting we loose all electricity and never have it again then society would be destroyed and paper money worthless anyway.



posted on Jan, 11 2014 @ 09:05 AM
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reply to post by Revolution9
 


I believe the same thing. However, the globalist would have to make their own digital currencies that will work in their form of system. They would need to implement a centralize digital currency that can be traceable.

Bitcoin does not operate in a way beneficial to the globalists because it is decentralized and works in anonymity.

However, I can see the central banks implementing something similar in the future, but it won't be bitcoin, it would need to be remodeled.



posted on Jan, 11 2014 @ 10:30 AM
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reply to post by PhoenixOD
 


So... If by chance you had a few million dollars in Bitcoin stored on that Flashdrive ......as the guy really did for a hard drive recently trashed...and you forgot while it went through the wash or your kid screwed with it and corrupted it ..whatever may happen. It's all gone. Millions...in one electronic failure. Just...gone.

No such equiv. thing can occur with value represented by physical objects, like notes, coins or bullion. This really is a fundamental difference of total world view. I think it's that core, too.

After the great depression, a whole generation stored life savings and fortunes in mason jars and mattresses. We'd think of that as silly ...but the reasons for it are as deadly serious today as they were in the late 30's. Generational difference is what defines the world views, I think. Same here.



posted on Jan, 11 2014 @ 11:28 AM
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reply to post by Wrabbit2000
 


Yes if you physically destroyed or lose (in your example) whatever you were holding the BTC in they would be gone but also if you physically destroyed or lose whatever you hold your paper money in they would be gone as well.


edit on 11-1-2014 by PhoenixOD because: (no reason given)



posted on Jan, 11 2014 @ 11:33 AM
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reply to post by Wrabbit2000
 


But heres something to think about, you can keep multiple encrypted backups of the contents of your bitcoin wallet so that you dont lose anything should there be some physical or electronic disaster. That's something you can not do with paper money.

If my house burnt down over night and my computer where i store my bitcoins was destroyed i could just re-instate an encrypted password protected backup (stored off site) in a new wallet. If your paper money is destroyed then its just gone..forever.



edit on 11-1-2014 by PhoenixOD because: (no reason given)



posted on Jan, 11 2014 @ 01:24 PM
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reply to post by PhoenixOD
 


Indeed... there are endless variations and ideas for making something new, work and overcome inherent problems that defeats it's general acceptance. We see it here.

At some point, they may well develop 100% online and digital currencies that have no form or real version outside a box of electronics. They may well find ways to insure that's secure, viable for world wide AND real world commerce as well as instill confidence in the public for it's use.

I'm not sure I'm young enough to see that point come and one may actually have a lot to do with the other, thinking about generational differences again. It could be the older generations that do run the world systems and national infrastructures will need to pass on before such a radical new thing is accepted across the general public (hundreds of millions of people ..not thousands). We'll see together as we move into the future.



posted on Jan, 11 2014 @ 03:55 PM
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I just store my bitcoin with google.
Let them both have the headache - the hacker and google.



posted on Jan, 11 2014 @ 10:26 PM
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reply to post by Revolution9
 


The world will probably never have a complete digital currency. The simple reason? .. people really like holding their money. And if you honestly think about it, all money is currently digital. For instance I go months without seeing my actual cash, it's all digital, I use a card, a bank supposedly holds onto it (which it doesn't really, because there's far, far more Dollars than there are actual physical Dollars.

And you can send cash overseas, convert it, move it to different accounts, access it via atm's etc all over the World. When I was in Europe last year I simply converted my account to Euros and used the same card (although it's a pain in the ass to explain to everyone in Europe how to use an American credit card..)

The only thing that really needs to change with our current currencies is security. I would also personally favor a universal currency, based much like the EU's Euro.



posted on Jan, 13 2014 @ 03:19 PM
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reply to post by Wrabbit2000
 


I just discovered something that was a surprise to me. You can produce a paper copy of bitcoins just like normal money. Its called Paper Wallet




A paper wallet is a mechanism for storing bitcoins offline as a physical document that can be secured like cash or anything else of real-world value. Paper wallets are generally created by printing a brand new public address and private key onto paper, and then sending bitcoins from a "live" wallet to the printed wallet's public address for safekeeping. If good security practices are followed, paper wallets are one of the safest ways to to store a virtually unlimited number of Bitcoins.


Source

But it has an advantage over normal money because you could produce more than one copy. Then if you lost one or it was destroyed you could just use the copy






edit on 13-1-2014 by PhoenixOD because: (no reason given)



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