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The American society has devolved into a heartless “dog eat dog” world where it is every person for themselves. I have blamed the progressive “improvements” on this trend, but in truth there are many reasons, and many causes. And a simple black and white card-board cutout will not provide all the answers.
When I see American women today, I feel sad.
It’s almost like they are trying to perpetually trying to stay in their 20’s. In looks. In actions. In dating. In relationships. In everything.
They are not moving on. They are not considering families, generational growth. Growth as a person, and growth in spiritual, mental and emotional venues. They are somehow entranced in this idea of a perpetual “Springtime”, and not looking at the beauty of Summer, Fall and Winter.
There’s a lot that I can say on this level and on this subject, but as a man I am restricted in speaking about what I know. And what I know is this… As a man, you don’t actually start living life until you pass your 50’s. It is there when you really come into your own.
Now…
That’s for men.
For women, it’s different.
Women go through stages of growth. And I find that the woman in her 30’s and 40’s much more “rounded out” and healthier (emotionally and physically) when they were younger in their 20’s. And if they take care of themselves, maintain an active (face to face) social life, can extend this attribute (characteristic) up and into their very senior years.
But that is just me, and a 20-year old won’t have any understanding what I am talking about.
Sigh.
Anyways, there’s a bunch of articles out there about women who have foregone raising a family and having long term relationships in favor of a career or a life of eternal flings. These are sad people. They are lonely, shallow and fucked up in the head.
People, it’s our relationships with each other that enables us to grow.
You don’t have relationships…
…you don’t grow.
Here’s a good article titled “She needs more men!” and posted way back in November 18, 2012 by Dalrock. It is reprinted as found, but modified to fit this venue. I included the pictures of drag-lines for nostalgic purposes, but note that all credit to the original author.
Badger writes about a woman at a dinner party who recently tried to enlist him in her friend’s quest to keep her dating hopper filled with new men:
“Do you have any normal friends for my friend to date?”
Vaguely confused by the hasty presumption that I was a dating sourcer, but detecting an opportunity for a silent manosphere laugh, I replied “you’d have to tell me more.”
“Well, she’s been dating guys from OKCupid and says she just can’t find any normal guys there.”
Now I was irked. It would have been one thing if she said her friend worked long hours with all women and just wasn’t meeting men, or had had trouble getting back on the carousel horse after a breakup.
But she’s swimming in men and is striking out wildly.
And I happen to know that a significant portion of the young men in my city are on OKCupid, so I know there’s a few good fish in that pond.
As Badger points out, the woman is presuming quite a lot in expecting a stranger to fix her friend’s dysfunctional dating strategy:
The fact that she saw me as a possible conduit for her issue of the day smacked of a combination of megalomania and an appeal to the male instinct for problem-solving – “maybe you can help me fix this!”
Expecting me to leap into the coat closet and re-emerge in my Captain Save-A-Ho suit, ready to line up cannon fodder for her chica amiga who couldn’t generate her own romantic sales leads.
What strikes me even more is the widespread denial of the larger issue. Once a woman sets out with a strategy other than one and done marriage, she all too often becomes a ravenous beast with a need to constantly fill her hopper with more men.
Most of these men will be either outright rejected or (worse) added to her stable of beta orbiters.
Strip mining for men.
Strip mining machines are typically stuck for life in the very pits they create. While younger prospectors are starting up in rich ground, as a strip miner for men ages she ends up forever reprocessing less and less promising tailings.
Strip mining for men. A drag-line.
Eventually nearly all of the most promising ore has been lost forever in an unintended environmental impact or has been snapped up by more astute miners.
Even if she does come across a promising nugget, the years and hard mining operations have taken their toll; her battered sluice box can no longer even slow down most nuggets, let alone retain them.
This is why if you come across a site focused on single women (or single mothers), there is a never ending obsession with feeding the hopper. More men. More men. Must find more men. Anyone and everyone is enlisted in the obsessive task of devouring through mountains of men in an attempt to relive the glory days of their early mining experience.
To be fair, the constant need for new romantic prospects isn’t limited just to choice addicted women in today’s Sexual Marketplace (SMP).
Those men who find themselves repeatedly in the first 2-3 stages of the strip mining operation have little choice but to look for new hoppers to throw themselves into.
Some men have figured out the business of dealing with strip miners, and deliberately set out to play the role of hookup, fling, and (as part of a soft harem strategy) boyfriend. A much larger group of men unwittingly end up playing the role of forever scraped aside top soil, beta orbiter, and the sucker who chivalrously pays for dates with the miner while she has sex with rockbanddrummer for free.
But either way there is a critical qualitative difference. Those men who are setting out for a life of sexual variety are very honest about the moral and practical reality of their choice and the continuing need for new ore in the hopper.
They aren’t pretending to be seeking the one, and therefore don’t need to lie to themselves and others about the nature of their operations.
As a result, they are able to come up with effective strategies to keep operational costs down and efficiently retain as much of what they are seeking for as long as possible.
It is worth noting that the entire process is often mistaken for something more quaint due to the denial at the core of the operation. Strip miners work hard to associate themselves with the romantic image of their grandmothers and even sisters who spent a few years in their late teens and early twenties carefully panning for a husband.
Finding a proper husband is no small task, and many women still quietly take this seriously.
They understand that devouring mountains is counterproductive, and instead work to locate rich areas to prospect and carefully sift to avoid discarding the prize or falling for the flash of fools gold.
They don’t attract the attention of the much more visible strip miners because they aren’t devouring mountains, and when they think they have found a good prospect they aren’t about to tip their hand to other miners.
Wise prospectors also understand the vital importance of holding on to their gold once they find it.
Conclusion
It’s a cute story and great narrative about dating.
All men, who have endured a divorce and then were thrust back into the later-life dating scene, has experienced these kinds of gals. Oh not everyone is out there strip-mining for men. Maybe only one in ten. But they are out there.
And it is sad.
In certain ways it’s like the little kid that that uses up a box of tissue to clean his nose. One after the other. Pull out, wipe, and then discard. Over and over again. Not paying attention that the box is running out and the fresh clean tissues are all used up.
Nothing is better in the world than having relationships.
That is with men, with women, with associates, and with colleagues. Relationships are what adds color to our lives and depth to our souls.
I, for one, have a very large and healthy collection of friendships. It was one of the things that I set out to do when I moved to China. It turns out that most people like food, many like to drink and a large percentage love music and playing around. Sure beats staring into a blue glow of a computer monitor late at night.
Men, women, we all need each other.
Don’t be a lone-wolf. Be part of something bigger.
You’ll not find any big banners or popups here talking about cookies and privacy notices. There are no ads on this site (aside from the hosting ads – a necessary evil). Functionally and fundamentally, I just don’t make money off of this blog. It is NOT monetized. Finally, I don’t track you because I just don’t care to.
Please kindly help me out in this effort. There is a lot of effort that goes into this disclosure. I could use all the financial support that anyone could provide. Thank you very much.
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One of the things that I truly appreciate is how we all somehow come up with solutions to problems. Some of those solutions are truly amazing and noteworthy. As (for example) what Eddie Van Halen did to his guitar when he couldn’t afford a wah-wah petal. And as a tinkerer, and inventor, I just cannot help but be attracted to DIY articles and stories of making… stuff and things.
Here’s an interesting article about narco-submarines. These are miniature submarines that are used to transport contraband (illegal to own objects) to a hungry clientele behind the United States grand wall of isolation. We read about these vehicles and objects from time to time, but this is the first article that I have come across that had some real depth to it.
The following article is titled “Ghost Gliders: Spanish Narco-Submarines” written by H I Sutton, on Mon, 08/31/2020 – 7:38pm. It came from the Small Wars Journal. All credit to the author. Please note that it was reproduced pretty much intact with only minor editing to fit this venue.
Ghost Gliders: Spanish Narco-Submarines
By H I Sutton
We tend to think of (so-called) narco-submarines as a Latin American phenomenon.
Properly speaking they are LPVs (Low Profile Vessels); alternatively SPSS (Self-Propelled Semi-Submersible—I do not use this term).
Locally in Latin America they are known as ‘narcosubmarinos’ or ‘semisumergibles.’ Now we have another Spanish name to add to the list, ‘planeadora fantasma,’ meaning ‘Ghost Glider.’
This is because narco-submarines are not confined to the Americas. Similar methods being used elsewhere, most noticeably in Spain.
The most widely reported Spanish narco-submarine (and I use this colloquial term unapologetically), was found on 24 November 2019 on the Galician coast. The 72 feet long craft was large and carried over 3 tons of narcotics, but it was otherwise like the ones found in the Pacific or Caribbean.
In contrast, the one found in the same area on 13 August 2006 was completely unique. And the same can be said of the latest ‘Ghost Glider,’ found on 27 August 2020. The basic difference is that the November 2019 boat was built in Latin America while the other two were built in Spain.
Different ideas, conditions and modus operandi have led to different approaches in design.
Ghost Glider designs.
Three ‘Types’ of Spanish Narco-Submaries: ‘Vigo’ FSV, ‘Transatlantic’ and LPV, ‘Ghost Glider’ LPV/GFV. Source: H I Sutton, 2020.
2006 Vigo Narco-submarine
An elaborate artisan submarine was found abandoned off Spain’s Galician coast near Vigo on 13 August 2006…
2006 Vigo Narco-submarine
This is about the time that narco-submarines, as we would recognize them today, were beginning to be interdicted in Latin America.
It was a FSV (fully submersible vessel), 36ft (11 meters) long and 6.5ft (2 meters) across. And unlike LPVs, was able to fully submerge, down to a depth of about 10ft (3 meters).
Underwater it was powered by batteries driving two electric motors.
And it had over 1,000 gallons of fuel for surface running. It was estimated to be capable to carrying about 1 ton of cargo. Other aspects were also relatively advanced, including a folding snorkel mast and radar antenna.
Despite its sophistication there is no suggestion that this tiny craft was suitable for transatlantic voyages. More likely it was intended to rendezvous with another ship offshore, pick up the drugs and transport them back to the Spanish shore.
2019 Narco-Submarine
A regular LPV of the style we see in Latin America.
There is compelling evidence that this was designed by the same master boat builder who is responsible for several others. Design details, such as a small splitter plate ahead of the cockpit windows and the V-shaped hull, create a ‘designer’s fingerprint’. This allows us to tie together multiple incidents.
2019 Narco-Submarine
The first LPV from this designer was interdicted by the Colombian Navy on 3 January 2019. Since then at least four more have been found, the most recent being found in its jungle boat yard on 6 August 2020. This last one was unusually large, being about 100 feet (30 meters) long. In fact all of the LPVs attributed to this unknown master boat builder stand out against their peers.
But we should not make too much of the particular designer. If the 2019 narco-submarine could cross the Atlantic, virtually any large LPV could. In overall terms it was not remarkable. This should be more alarming to Law Enforcement than if it was in some way special.
Current thinking, based on publicly available information, is that it was built in the Colombian jungle near the inland border with Brazil. It then sailed all the way down the Amazon to the coast before setting off across the Atlantic. It went via the Azores before heading towards Galicia.
planeadora fantasma
This latest craft sits between the go-fast vessel (GFV) category and LPVs.
Again, it is a unique design unlike those seen in Latin America. It takes a power boat hull, adds a hard RIB collar and then a built-up covered superstructure. It is not currently—based on public sources—possible to say how low it sat in the water. Possibly the collar was part of a ballast system. However we can say that it was intended to avoid detection, hence ‘ghost glider’. It was painted in a way that appears intended to deceive any observers.
Ghost Glider; planeadora fantasma.
The term ‘planeadora’ refers to a speed boat, and ‘planeadora fantasma’ has previously been used to describe the custom go-fast vessels also used off Spain. These craft are often RIBs and several have been specially modified for the task. Most famously the massive 59ft (18 m) seven engine ‘Monstruo’ stopped in 2009.
This latest vessel is about 39 ft (12 meters) long and could possibly carry a few tons of cocaine. The extensive grab rails and aft-sloping cargo hatch suggest that it is designed to be loaded at sea, which makes sense. So like the 2006 Vigo submarine, it is likely intended to meet other ships offshore and then bring the drugs ashore.
It could easy be put into the GFV category instead. But its elaborate construction and emphasis on deception (as opposed to raw speed) makes a strong case for it being a narco-submarine. It is certainly not just a typical GFV.
Going Transatlantic
The Spanish narco-submarine traffic appears to be centered, on Galician drug gangs. This may be skewed by reported incidents, but all three have been discovered in Galicia in the North of Spain. Portugal, Ireland, France and the United Kingdom also appear to be logical landing points.
Narco Sub.
My suggestion is that the Cape Verde Islands and Azores are stopping off points for transatlantic narco-submarines. They likely meet supply vessels in the area.
ACK 3, a Spanish company specializing in defense, intelligence and security consulting which advises European and Latin American military and law enforcement units suggests that language may be a factor. Brazilian crews can communicate with the local population on these islands using Portuguese.
Some of the transatlantic narco-subs may transship their cargo to other vessels along the way. Trawlers operating out of Spain seem the most obvious candidates. But I have not seen any information in the public domain to substantiate this theory. Another possibility is that the drugs are transferred to large cargo vessels heading to Northern Europe or even to North America.
These vessels may be coming from a low-risk port so not be tainted in the way that a cargo ship crossing from Latin America might be.
Interception of a smuggling vessel.
So we can speculate that a Latin American built LPV could set off from Brazil (or Venezuela, Suriname or Guyana) and rendezvouses with a cargo ship off Cape Verde or the Azores. The cargo would be transshipped and the cargo vessel (or fishing vessel) heads north towards Europe. Off the Portuguese or Spanish coast, while still out at sea, it is met by a ‘ghost glider’ like the one seized in August 2020. The transshipping can occur at night, and the drugs are landed in a remote beach in Galicia. Local drugs gangs may only be able to control access to the landing point for a few hours. So some of the drugs may be dropped in pre-determined lurks awaiting retrieval by scuba divers at a later time.
Outlook
It seems that it is now a case of when, rather than if, another transatlantic narco- submarine appears. And even if none are interdicted, it seems a sure bet that they are out there. And together with ‘ghost gliders’ and less exotic means, drugs trafficking organizations are still able to land their products on European shores.
The narco-submarine model for cocaine trafficking presents European law enforcement with a number of challenges. Detection, tracking and interdiction may all be different compared to the Pacific and Caribbean. And the vast expanse of ocean, often in harsh weather, may stretch existing patrol forces; however, SIGINT, UAVs and new satellite technology such as the Hawkeye 360 constellation may prove powerful tools.
Conclusion
Nations and governments use “vices” to control the population. When they ban or tax, or regulate things, people find ways to engage in their vices without government interference. While dug abuse is a big problem in America, it’s not a problem in areas that don’t ban the drugs.
Mexico doesn’t have half the drug problem that America has, but it doesn’t have the same laws either. The same is true for China. Yes, smoking marijuana is seriously against the law, but that is pretty much the only thing that is. You can get just about any medication over the counter without a doctor’s prescription and there just isn’t a serious drug abuse problem there.
Anyways…
I am not advocating the use of drugs.
What I am saying is that governments use up a ton load of money, personnel and resources trying to ban things. While, instead they should be dealing with those individuals who have a physiological problem with drugs. You go after the problem. Not the symptoms.
The world needs to start looking at things in new ways with new “eyes”.
The old ways are failing left and right. The solution to the problems that ails the world isn’t more bans, regulations and restrictions, but rather a complete loss of control by the few at the PTB level.
You’ll not find any big banners or popups here talking about cookies and privacy notices. There are no ads on this site (aside from the hosting ads – a necessary evil). Functionally and fundamentally, I just don’t make money off of this blog. It is NOT monetized. Finally, I don’t track you because I just don’t care to.
Please kindly help me out in this effort. There is a lot of effort that goes into this disclosure. I could use all the financial support that anyone could provide. Thank you very much.
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"The US federal budget is on an unsustainable path, has been for some time. But this is not the time to give priority to those concerns."
- Federal Reserve Chairman Jerome Powell
The world is changing. As I have covered in other posts, the technology that mankind is adopting is causing a great deal of social change. But not like one would expect. It’s not just using a smart phone instead of a rotary dial up phone. It’s not just using a Car Ride APP instead of hailing a taxi. It’s more than that…
It is disrupting many “imprisonment” and “stratification” schemes. Schemes that have become so ingrained into society that we (mistakenly) believe that they are a fundamental part of what our society is.
A stratification scheme is one in which a sentience (or a way of thinking and acting) forces upon society a special system of control. It is a system where they have advantage over other groups of people. And they control the access to this system. They let some people in, and leave others out. It's an exclusive system. As the saying goes in America "they control what will happen, and you ain't a part of it".
The caste system in India is a good example of this. But there are many others.
Most especially in America.
Think of any system where you need to go through a "gauntlet of approvals" to get something done. And then discover that the ones who "had it easy", and did not need to fight through that gauntlet (such as the wealthy and the "well connected") were sitting here smug when you finally (after many hoop jumps) arrived. These systems have saturated America today.
It is at a point that a "diversity" movement has organized to give others (who normally are restricted from entering these stratified societies) a chance to "break through" those invisible "glass walls".
These schemes…
… such as the Banking System, and the University System, and the Media System are all under stress and being replaced. (There are many others, such as the Judicial system, the Professional Registration System, and the Internet Paywall systems.) These schemes developed over time as a way for one group of people to have benefit over others. It was a way to control others (not overtly) but through quiet manipulation.
However, they point to some other nation. A nation that they read about in the “news”, and repeat loudly “America is the best nation on the earth!”. “America has problems” they retort, but it is not as bad as the rest of the world.
How do they know this mantra?
The American “news” media told them. That’s how.
Just stay in your little prison you mindless, deplorable debit serfs. Be content with your pathetic way of life. And work! Work! Work! If not, then the system will keep you so drugged up that you will be incapable of rising up and rebelling.
True, to some degree, more or less, the rest of the world engages in petty corruption. A cup of tea here, a few dollars there. However, in America, it is institutionalized and legalized at an enormous wholesale level. All by serious long-time crooks and con-artists.
The Presidential election of 2016 was a choice between two "mafia" bosses;
[1] Democrat - The Clinton Crime Syndicate. Hillary Clinton.
[2] Republican - A New York Casino Owner - Donald Trump.
But, people fought back…
The control of the media was the first battle.
Seemingly overnight, in the 1990’s, all sorts of alternatives to the mainstream media popped up. And the PTB were ending up exhausted trying to fright this “wack a mole” phenomenon. But they eventually won. The alternative media tended to cluster in groups by political extremes. So the PTB, and their government bodies, just simply ended up controlling the multiple media outlets. They now control the narratives for all Alt-Left, Alt-Right, and Mainstream media. And, the battle is not over. They are tightening their control over this medium in all sorts of ways.
The control over who works and who doesn’t is controlled by “the University System”. Over time, now a days, almost all positions except for semi-skilled and unskilled work requires a university degree. It’s pretty bad when a receptionist position needs to have a four year college education to work.
Well, that system is starting to fracture and crash.
And as I see it, it is going down in flames, and very little in the way of alternatives (in America) are replacing it. Overseas, in Europe and China, it’s a completely different matter. I think that I will cover this issue later on in another post, as it is interesting, and very complex.
And the control of the money / Banks is what I just talked about in my latest post. The systems have been set up to permit a small number of people great control over the lives of the rest of us, and it has resulted in ridiculous levels of wealth and poverty. And other nations (better run, stronger, and more capable) are coming up with solutions. Solutions complete with armed police to prevent corruption and abuse of the system.
Key to these new replacements for the paper-backed (not gold backed) banking industry is something called Cryptocurrency.
The following is a complete reprint of the article titled “What is Cryptocurrency?” written by Adam Levy (TMFnCaffeine) on Mar 11, 2018. It was edited to fit this venue. All credit to the author.
What Is Cryptocurrency?
Everything you need to know about this new form of electronic cash.
Cryptocurrency went mainstream in 2017 as the price of bitcoin, the most popular cryptocurrency, soared over 13-fold during the year.
It’s often called “digital gold,” as some of the characteristics of bitcoin and other cryptocurrencies are similar to the precious metal often used as a store of value. But that comparison doesn’t do it justice.
Cryptocurrency is an electronic cash system that doesn’t rely on central banks or trusted third parties to verify transactions and create new units. Instead, it uses cryptography to confirm transactions on a publicly distributed ledger called the blockchain, enabling direct peer-to-peer payments.
That definition might seem downright cryptographic right now, but by the end of this overview, you won’t need a decryption key to understand crypto.
Today we’ll cover:
The creation of bitcoin and the blockchain, the underlying technology of all decentralized cryptocurrency.
How the blockchain solves the problems associated with prior virtual currencies.
How cryptocurrency transactions work without central banks.
The function of cryptocurrency “miners.”
How to buy cryptocurrency.
The early history of cryptocurrency
In 2009, a programmer using the pseudonym Satoshi Nakamoto created bitcoin, the first ever cryptocurrency. Satoshi also created the blockchain technology, which makes all decentralized cryptocurrencies possible.
The blockchain was created as a solution to the “double-spending problem,” which arises in virtual currencies because it’s easy to duplicate digital information. A person could make a copy of his or her digital currency information and send both the original and the copy to separate parties.
Sort of like using a Xerox machine to make extra stacks of dollar bills.
Before bitcoin and blockchain, virtual currency relied on trusted third parties to prevent double spending. But Satoshi wanted to develop a decentralized currency, which meant finding a way for the network of bitcoin users to verify transactions.
“The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work,” Satoshi wrote in the abstract of the white paper announcing bitcoin.
This was the earliest description of the blockchain.
Why is it called a blockchain?
A block is a collection of transaction data on the cryptocurrency network.
It basically says Person A sent this much to Person B.
The Block-Chain Process.
As well as saying Person X sent this much to Person Y.
In a way, it is like the sales receipt that the chick at Burger King gives you when you buy a #1 Whopper Meal.
It also includes important information that allows the rest of the network to verify the validity of the block — such as the solution to a complex math problem — called a proof-of-work. While the math problem is hard to solve, it’s very easy for others to verify a valid solution. New blocks cannot be amended to the blockchain without a valid solution.
A block also includes a reference to the block that immediately precedes it. Thus, the blocks create a chain linking one to another through those references.
A “block chain” is created by linking all the blocks together.
The reference to the preceding block is accomplished through something called a cryptographic hash function. A hash function takes a set of data and maps it to a string of letters and numbers called a digest. If anything in the data changes, the resulting hash digest will change as well.
Chaining blocks together by using a hash function to reference the preceding block adds a great level of security to the system. To change a block in the ledger, a hacker would have to reproduce the entire chain of blocks following it, since it would create a chain of invalid hash values referencing the previous block.
It is sort of like making Xerox copies of your Burger King receipt and sending the copies (marked "copy") to everyone in your city.
How block-chain works.
How does a cryptocurrency transaction work?
Cryptocurrency is used for direct peer-to-peer payments anywhere in the world.
The speed of transactions varies based on currency and confirmation requirements, but it’s generally very fast compared with traditional banking systems. Where banks can take days to transfer money, cryptocurrency transfers happen in minutes.
Bank transactions = days.
Cryptocurrency transactions = minutes.
In general, cryptocurrency transactions go through the following steps before they get added to the blockchain.
A person requests a transaction, and the request is sent to the entire network.
Each computer on the network collects all concurrent transactions into a block, along with a timestamp for each transaction.
Each computer works on solving the difficult math problem to add the block to the blockchain. This process is called “mining.”
Once a computer finds a valid solution, it broadcasts the block to the rest of the network.
The network checks the solution as well as compares transactions in the block against the current blockchain to prevent double spending.
The block is added to the chain, showing the transaction was completed.
Once a block is added to the chain, that block gets hashed and is used to create the next block. The process continually repeats itself.
As such, transactions are practically irreversible, much the same way as if you give someone cash (hence calling it an electronic cash system). As mentioned, the chaining of one block to another means someone would have to edit the entire chain of blocks to change a transaction.
How the blockchain process works.
Since blocks are continually added to a chain, it’s extremely unlikely someone will be able to propagate an updated chain of blocks to the network before the rest of the network produces the next block and extends the chain further.
Every transaction needs a signature
Just as credit cards use your signature to verify you authorized a purchase, cryptocurrency uses a signature as well …
… a digital signature.
Transactions are secured through a cryptography system called public key encryption. Each user has both a public key and a private key associated with his or her account.
To authorize a transaction, users must prove they know their private key by using it as an input into a cryptographic hash function similar to the one used to link blocks together in the blockchain. That’s called signing the digest. The private key is used to write that “digital signature,” so it’s very important that the private key remains private.
Public Key = Each person in the transaction gets a copy.
Private Key = One (and only one) for each person involved.
What do miners do?
With no central banks deciding when to print more money, a cryptocurrency needs to define how to create new units of the currency. Many cryptocurrencies, like bitcoin, distribute new units to miners as an incentive for verifying transactions on the blockchain.
“Cryptominers” verify transactions on the blockchain.
They are paid in bitcoin for their labors.
Miners work to solve the difficult math problem or other proof-of-work systems within every block of the blockchain. They also work to verify the solutions. Running all these calculations have real-world costs, including buying hardware and using electricity.
The difficulty of the math problem for bitcoin blocks is automatically adjusted such that the combined processing power of the network takes about 10 minutes to solve the problem on average.
When a miner successfully adds a block to the bitcoin blockchain, that miner also earns the right to take a reward. The winning miner’s bitcoin address is recorded in the block.
For instance…
The reward started at 50 bitcoins per block.
That number is halved every 210,000 blocks (or about every four years).
The current reward for adding a block is now 12.5 bitcoins, and that number will fall to 6.25 around June 2020.
At some point, the reward for solving a block in the bitcoin blockchain will become extremely small. By 2140, miners will have mined all 21 million bitcoins that will ever be in circulation. At that point, the incentive for miners to update and verify the blockchain will come from transaction fees. Some cryptocurrencies already rely on relatively high transaction fees to offer miners incentive.
Bitcoin miners (cryptominers) used to make their money in bitcoin for mining. Now, their primary source of income is in (high) transaction fees.
Transaction fees are currently relatively small for bitcoin, but if transaction volume doesn’t climb to compensate for the decrease in block rewards, transaction fees will have to increase to compensate miners.
How to buy cryptocurrency
It’s no longer practical to use your home computer, or even a custom-built bitcoin mining computer, to mine bitcoin and most other cryptocurrencies.
Most people will get a better return by buying it through a cryptocurrency exchange.
A cryptocurrency exchange allows consumers to change their fiat currency, like U.S. dollars, into cryptocurrency like bitcoin.
Cryptocurrency trading process.
A cryptocurrency exchange works just like any other exchange, such as a stock exchange. It matches buyers and sellers based on a book of orders. As orders are added to the book, the exchange matches buyers willing to pay the same amount (or more) than sellers are requesting.
“What is cryptocurrency” revisited
To recap, I defined cryptocurrency as …
"an electronic cash system that doesn't rely on central banks or trusted third parties to verify transactions and create new units. Instead, it uses cryptography to confirm transactions on a publicly distributed ledger called the blockchain, enabling direct peer-to-peer payments."
Let’s break that down.
“An electronic cash system“: Cryptocurrency has no physical form. Ownership is determined by the digital record found in the blockchain.
“Uses cryptography“: Transaction requests are authorized and confirmed through public key encryption. The blockchain also uses encryption to link blocks to one another.
“Confirm transactions“: The chain of transaction data in the blocks allows the network to verify that a transaction hasn’t already occurred — the double spending problem — and to add new transactions to the ledger.
“A publicly distributed ledger“: The blockchain ledger is available to all the computers on the network. In fact, its publicity is essential to making the entire system work. By keeping an updated transaction ledger on every computer on the network, the system is able to protect against changes to the blockchain and verify transactions and ownership.
“Direct peer-to-peer payments“: Payments never go through a central banking system or trusted third party but instead simply move from payer to payee. This process increases the speed of transactions and reduces the fees associated with transferring money.
Cryptocurrency is a complex new form of electronic cash. With no reliance on central banks to confirm transactions or authorize the creation of new units, it can dramatically reduce the fees and time associated with moving money around the world.
Conclusion
People are still coming up with new applications for blockchain technology and new cryptocurrencies every day. With this basic overview of what cryptocurrency is, you can start developing a deeper understanding of the various currencies available.
"The only stable and viable solution for the species to survive is a new eco-civilisation, based on a global non-market economic system, in which the private tyranny of the market – a global plutocratic elite of profit mongers – and anti-democratic oligarchic political systems do no longer rule the destiny of the people,"
-Dieterich
Make no mistake, banking systems, and the way they operate is changing. Whether it will happen soon (with the e-yuan system currently in use) or in the distant future,(if the PTB that control America has their way), it will happen.
I think that it is important to understand that things are changing and the old way of doing things are being supplanted with better, fairer and more complete systems. And those that lived off the corruption of the old systems are not going to go away peacefully in the night. Instead they will fight. They will fight tooth and nail to keep the status quo.
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