Cryptocurrency

A cryptocurrency is a digital currency based upon cryptographic ciphers for creation and security. Thus far, they have proven resistant to control by any single party.

Bitcoin

Bitcoin was the first cryptocurrent trading and is currently the most popular cryptocurrent available with national news coverage and known world wide. The Bitcoin protocol was created by Satoshi Nakamoto, which may or may not be single person or a group of people. Bitcoin is often referred to as BTC.

For a good overview of what Bitcoin is and what it means to the world at large watch the following video from Stefan Molyneux.

Litecoin

Litecoin is a peer-to-peer Internet currency that enables instant payments to anyone in the world. It is based on the Bitcoin protocol but differs from Bitcoin in that it can be efficiently mined with consumer-grade hardware. Litecoin provides faster transaction confirmations (2.5 minutes on average) and uses a memory-hard, scrypt-based mining proof-of-work algorithm to target the regular computers and GPUs most people already have. Litecoin is often referred to as LTC.

Others

There are a number of cryptocurrencies available, but Bitcoin and Litecoin are the top two most popular currencies.

How cryptocurrency works

Steven Gibson has an excellent, technical podcast about the subject of cryptocurrency: http://twit.tv/sn287

Quotes

• "Paper money eventually returns to its intrinsic value --- zero." Voltaire (1694-1778) -- The same could be said for Crypto-currency.

• "Gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants and debt is the money of slaves." -- Traditional

• "The one aim of these financiers is world control by the creation of inextinguishable debt." - Henry Ford

• "Give me control of a nation's money and I care not who makes the laws." - Mayer Amschel Rothschild (Head of the Jewish Rothschild elitist banking-finance family)

• "The issue today is the same as it has been throughout all history, whether man shall be allowed to govern himself or be ruled by a small elite." - Thomas Jefferson

See Also

• Cash Currency
• Dollar (U.S.)
• Euro
• Chinese RMB
• Russian Rooble
• Indian Roopie
• BRICS - Brazil Russia India China South Africa
• Cryptocurrency
• Bitcoin
• Gold
• Silver
• Barter
• Gold standard
• Precious metal
• Inflation hedge - Hedge against inflation
• Invest in tangibles

• Investments
• American economic history

Common Financial Investments

• Bonds
• Certificate of deposit or Money market
• Commodities
• Individual retirement account or IRA, 401K, 403B
• Stock market securities and mutual funds

Common Investments in Survivalism

Main article Invest in tangibles

• Food - Food storage, Backyard Food Production, Growing your own food
• Water - Water storage, Water capture, Ponds-Lakes
• Gardening via Permaculture and other gardening techniques
• Precious metals - Silver, Gold, Platinum, Palladium and Copper-jacketed lead (ammunition with steel -- meaning firearms)

Risk to Investments

• Economic collapse: Inflation, Agflation, Deflation, Stagflation, Hyperinflation, Panic of 1907, Panic of 1893, Panic of 1837, Eurozone Crisis

• Stock market crash (Stock market crash of 1929) leading to Bank runs and Great Depression (Economic depression)

• Economic bubbles: The Coming Derivatives bubble, Real estate bubble (Subprime loans, Bailout, Obama administration corporate bailouts), Dot com bubble (Tulip mania)

• Financial Crisis of 2008 leading to Recession of 2008 (Recession), Economic stimulus, American Recovery and Reinvestment Act of 2009, Recovery Summer 2010

• Obamanomics: Obamunism Economic planning of the Obama administration fiscal policy, Obama administration monetary policy, Obamacare, Federal funding via Crony capitalism (Obama donor list), Deficit spending, Similarities between Communism, Nazism and liberalism, Obamageddon

• National debt: Federal Reserve System's Ponzi scheme of Quantitative easing-Debt monetization devaluation of Fiat currency through Money supply-Treasury bills bought mostly by China and Japan

• Big Government-Welfare State-Nanny State-Police State: Globalist-Statist-Socialist-Communist Naughty States

• John Maynard Keynes' liberal Keynesian economics of Barack Obama

versus:

Support for your Investments

• Ludwig von Mises' conservative libertarian Austrian economics and Fiscal conservatism -Capitalist Conservative economic policies of Ron Paul
• Modern Survivalism: "if times get tough, or even if then don't", Debt is financial cancer, Tax is theft, Renewable energy, Financial security, You are in control of your life
  • Invest in tangibles - Precious Metals, Copper-jacketed lead and Firearms
  • Permaculture: Growing your own food, Food and water storage, PermaEthos, Permie Kids, Permaculture Principles and Design Series with Jack Spirko
  • Vote with your feet - Strategic relocation: Owning land is true wealth and Personal-Localized-Regional-State-National-Global - Move to a Free state with Firearms freedom and free markets
• American Redoubt - Idaho, Montana, Wyoming, Eastern Oregon, Eastern Washington
• Free State Wyoming - Molon Labe! by Boston T. Party and Free State Project - New Hampshire
• Strategic Relocation-North American Guide to Safe Places by Joel Skousen
• Rawles on Retreats and Relocation by James Wesley Rawles
• Cumberland Redoubt - Tennessee and Kentucky - M.D. Creekmore
• Texas Redoubt - Jack Spirko's State
• If I wanted to save America

External Links

Relevant TSP Episodes

• TSP Episode 1293 - Listener feedback explaining why Bitcoin can by pass capital control measures
• TSP Episode 1320 - John Bush on Bitcoin
• TSP Episode 1321 - IRS and Bitcoin