A bit about bitcoin, bitpay, and this bit-ch's regrets.

I listen to Clif High's reports over at Halfpasthuman.com.  Clif is a brilliant linguist, geek, and explorer of the universe who leaves people like me gasping for breath as they try to keep up with his research, dot connecting abilities and his over-the-top mental gymnastics.  

Because I know in my heart of hearts and my mind of minds that he's lots smarter than me, I took notice when he started talking about bitcoin a year or two back. However, I am, I now realize, so stuck in my habitual thinking and modes of viewing the world, that I did not exercise the rigor it would have taken for me to understand why he was so excited about bitcoins.  Plus, I'm a technophobe...though not really a ludite.

Bitcoins, in case you haven't heard, are a crypto-currency, whereby anyone in the world can make an exchange with anyone else in the world, no matter how distant, through the use of a bitcoin.  Bitpay is one way of executing such transactions.  Imagine having your wealth, or some of it, stored in a "cloud," a term refering to the technology of having data stored, not in some computer somewhere, but in the ethernet that can be accessed by millions of computers.

Bankster bashing rebels like me rejoice at this idea, because it cuts out that greedy, grubby little middle-men banksters who loan money to governments desirous of costly war making machinery (they fund both sides when it suits their purposes...hello!), who scim off fees, manipulate interest rates, and who are now even threatening to take a portion of your deposits to feed their malignant money junky habit.

At any rate, Clif starting recommending buying bitcoins when they were under a dollar.  Recently they went over $200 a piece, then retraced with a greater than 50% loss, then rebounded a bit...and now, I'm not sure where they are.

However, if you're like me, and you're curious about what your fellow humans are up to in order to try to, at the very least, maintain their standard of living as our brilliant central bankers print our fiat (paper) currencies out of thin air at an ever increasing rate (the US Treasury is now issuing $85 Billion in bonds per month...and the Fed is the only one buying!!!)  Can you say "Inflation?"  How about "Weimar Republic?"  "Deutsche Mark?"  "Zimbabwe?"  Rome?"

Obviously, none of those guys goes shopping for anything like gasoline or groceries. 

Not only do they believe they can control inflation, they believe they know how to run the entire world economy...and they do...INTO THE GROUND, that is!

So yes, this bit-ch has regrets that I did not buy a bitcoin or two when Clif started talking about it.  Now it could be volatile for a while, at least until some really smart guys get a bit better technology (Bitpay may be stepping up to the plate) in place so the bitcoin market becomes a bit more stable, and able to fend off pump and dump schemes and other shenanigans favored by the criminal financial elites...who would love to see you shun bitcoin and watch it go the way of the precious metal-backed currencies.  They need your unending faith in "THEIR" currency.  This is, to them, the only religion that counts.  But time may be running out for the banking elite. 

In GOD we trust...written right there on the bill in your wallet.  Gas, Oil, and Debt.  GOD...well, the Russians and Chinese don't trust in that GOD anymore...as they are starting to trade oil and gas, not for American "petro" dollars, but for gold or precious metal backed currencies of their own.  

This is a kick in the teeth for the supremacy of the dollar and the supremacy of the Federal Reserve...so yeah, things are going destabilize a bit...so a bitcoin might be a good idea...even if you only buy one.  

With just that action will come a bit of understanding as to how this works.  With just that action, you can be yet another drop in the ocean of people looking to build a more just and "horizontal" world.  Enough of this top down stuff.  My neck is stiff from looking up.

At any rate, here's a fun way of learning a bit more about bitcoin.  Watch both segments.  Long live Max Keiser!  Long live Stacey Herbert!  Long live Bitcoin!

http://www.youtube.com/watch?v=IbSOHwCOnG0&feature=player_embedded