I figured that it would be best to start the New Year putting everyone's mind at ease.
The banksters are dead...done...finished....the head of the snake was cut off, now it is time for the body to die. It might take a while but it will happen.
Unfortunately, the banksters are lying to you. This is nothing revolutionary.
Do you know what is revolutionary? Blockchain.
Before going any further, perhaps it best to look at what blockchain really is. Most often we get confused because we do not know exactly what something means yet we think we do. This is what allows us to be misled.
According to Wikipedia, Blockchain:
is a decentralized and distributed digital ledger that is used to record transactions across many computers so that the record cannot be altered retroactively without the alteration of all subsequent blocks and the collusion of the network. This allows the participants to verify and audit transactions inexpensively. They are authenticated by mass collaboration powered by collective self-interests.
https://en.wikipedia.org/wiki/Blockchain
The key words are:
-decentralized
-distributed
-across so many computers
-mass collaboration
-self interest
You can also add open and the idea that verification comes according to a set of rules that were reached by consensus.
What is revolutionary about blockchain is that it is a new medium of trust. Trust no longer requires a third party. It is the blockchain itself that is trusted.
Let us now contract that with what the banksters are doing.
Do you recall the latest mantra: "Bitcoin is a scam but we like blockchain"?
This is a total lie. The banksters do not like blockchain. They hate it. It is their downfall. Anything that replaces them being the third party trusted system is a threat. This simply is a case of more misdirection.
Remember, what a bankster states is usually opposite from the truth.
The banksters want to eliminate the Clearing House that settles all money transfers around the world. This third party verification system is slow and expensive. It costs the banksters hundreds of millions of dollars (if not billions) in fees to settle. Ironic that they complain about how expensive third party verification entities are since they collect billions in fees to act in that capacity.
Blockchain is the ideal solution for this. It will speed up the process, lower costs, and increase the amount of trust from all participating since each transaction is open for viewing.
Sadly, this is not what is being set up. What the banksters claim to be a blockchain is nothing of the sort. Instead, the 5 banks involved are establishing is a centralized, controlled, closed system spread across a few computers which the verifying parties are named and use rules they set up themselves for verification.
That is not a blockchain, it is a database. And there is nothing trustworthy about a database.
In essence, the banksters want to eliminate a third party verification entity which is not a participant in the markets for them who are involved as market makers. And to boot, they want the world to trust them that they will act accordingly.
It is best to remember that we are talking about those institutions that were at the heart of the financial crisis 10 years ago and, who, at every turn, have shown they lack any moral compass when it comes to their behavior. They will act only in their own self interest to maximize the money they make including entering into the illegal arena. This is a fact they keep proving on a regular basis. Even when there is an entity looking over their shoulder, they take every opportunity to cheat.
And now they want to eliminate the third party verification entity on settlements and have it under their domain. Call me crazy but, for some reason, I do not trust them. I mean, can anyone say for certain that they will even block the transactions and then chain them? Why would they? Who is going to know if they did or not? With a closed database, nobody can see anything other than what they want you to see.
That is, until they get hacked which is the other piece of the equation. Databases get hacked all the time. Nobody is immune from it. These institutions have been hacked on numerous occasions. When they put together their settlement database, it is only a matter of time before it gets hacked. And where do you think those documents end up? My guess is Wikileaks will have a nice expose that day.
This is just another con job by the banksters. Here are entities that were shown to be selling their customers a long position while another part of the bank was placing leveraged short positions on the same assets. Now, they are looking to kill the one entity of trust in the settlement of financial transactions. Does anyone seriously think this will end well?
The one major difference this time, there are alternatives out there. As the banksters are exposed, further eliminating the trust other entities have in them, companies can move their business elsewhere. By that time, blockchain use for transactions will be commonplace. Entities all over the world will flee the bankster system for one it can rely upon.
Remember, the most revolutionary aspect of the blockchain technology is how it changes where we place our trust.
In the future, it will not be with the banksters.
If you found this article informative, please give it an upvote and a resteem.
Pictures by Google Images.
Bingo. Their faux-blockchain will be an irresistible target for the best hackers in the world. Black hat hackers and white hat hackers will have different reasons for hacking it, but both will be highly motivated.
The banking system is already a failure, they have ripped us off enough. The blockchain has come to our rescue and that is why the banksters will never like the blockchain. It is time for the old to give way for the new, the bankster for the blockchain.
I agree with all you wrote @edith4angelseu with the exception of time. I do not think the banksters are going away soon. They still have a number of years left in them. This will not happen overnight.
Blockchain is still in its infancy...we will see a lot of growth over the next 10 years.
I know it will take time but it is already in the making, little by little, more people are flowing into blockchain because the veil is being lifted. But like you said, it's a matter of time.
I know for sure that with time,bankster will be completely off the game.Though the government is still finding means of putting blockchain/crypto inside their cubicle due to their own selfish interest but cryptosystem has come to stay and liberate lives
The banking industry is so negative on crypto. I think it's because they cant control the market. Every banking employee I have mentioned crypto too has told me to get out now! I feel sorry for them as they don't even know what they are missing out on due to the blinkers put on them by their industry.
Most bankers have reverse psychology going in their heads. They say "get away from crypto investing" then they go home and buy a sh*tload. That's my opinion.
Haha your probably right there.
That’s a riot 😆😂🤣
Meanwhile, those bankers probably are losing money in stocks while they tell you to get out of crypto.
what a write-up simplifying what the blockchain and how it works, the bankers are out of the game this time. only the government still want to receive end task on every stack own by cryptocurrencies and they are really fighting to do it. Thups-up @taskmaster4450
I'm going to have a lot of fun when a lot of the media sources will start saying crypto is crap and maybe even blockchain is crap, and that the banks are to be trusted because their long history and bla bla bla. That will mean they feel the end coming.
I think that cryptocurrencies are probably good news for investment banks and hedge funds. With crypto derivatives now launched there's probably all kinds of investment and arbitrage opportunities, in a space with very little regulation or insider trading constraints, no clear picture of who owns what, or who is manipulating which currencies.
The disruption is likely to be bad news for retail banks, foreign currency retailers and the like: operations that make their money by fees on transactions, or charges on investments. In the same way that the internet was bad news for traditional retail shops. The fees should get whittled down pretty quickly this year.
very good article as usual. the first thing that crossed my mind when i saw the title was: "the banksters are dead, long live the banksters". the second thing was: "ignorance is bliss". the time of the banks is coming to an end, the question still is when (and not if) the system will collapse. call me whatever you want, but i am looking forward to it...
They will do their best to cling to control as long as they can. The reason blockchain is so potent is because it's progress, and it's progress away from the old way of doing things. The masses of people will always have a say, now that say can mean great change by supporting this technology.
These Banksters are fraudster and there good time is gone.. bad time starts with 2018 ..
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"
I think we were already told to keep banksters away from blockchain.
In 2017, we finally saw Bitcoin start to go mainstream. That momentum will only continue in 2018.
Clear and concise. Banksters Evil, Blockchain Good.
Agreed!
HAPPY NEW YEAR AND ALL THE BEST :))
Happy New Year 2018 @taskmaster4450
so informative post......... love to read it
I did not get a clear distinction between database and blockchain.does it mean that blockchain cannot be hack?happy new year
No it is decentralized..not centralized like a database. Hence the information is spread over hundreds if not thousands of computers.
Very nice bro
happy new year 2018...?
Let's hope the time is ripe.
so sad man.
Excellent article, it's a lot of benefit to us. Thank you very much for sharing with us.
Very sad news.
Everything was going ok, until the Fire Nation... I mean Ripple... attacked.
In all honesty, why do crypto enthusiasts support Ripple if Ripple is everything a crypto shouldn't be? Is it because of short term gains? What about the long haul?
@taskmaster4450 nice informative post because of your post I got to know clear idea and my many doubts got cleared thanks a lot fella .......keep steeming !!