Be aware, digital ID's and the cashless society are still very much on the agenda of governments worldwide. This has to be opposed by all right-thinking people. Banks appear to be on board with the moves, and if you've been awake you'd have seen all kinds of new measures being introduced, to keep you safe of course. What banks don't seem to realise, is they're bringing about their own extinction as once the complete system is introduced, governments will have complete control and banks will become pointless.
Showing posts with label digital currency. Show all posts
Showing posts with label digital currency. Show all posts
June 27, 2025
May 07, 2023
Texas Proposal: 100% Gold and Silver Backed Currency
An interesting development from the Texas Legislature:
On May 2, a Texas House committee passed a bill to create 100% reserve gold and silver-backed transactional currencies. Enactment of this legislation would create an option for people to conduct business in sound money, set the stage to undermine the Federal Reserve’s monopoly on money, and possibly create a viable alternative to a central bank digital currency (CBDC).
August 04, 2022
Reject Personal Carbon Credits
Your personal carbon footprint and digital ID will be linked. This stupid idea won't go away until we all say enough, and make it go away.
June 20, 2022
Central Planning Never Works
They started with the scamdemic, that trained everyone to obey.
Now they're coming for:
1. Food supply, then;
2. Energy, then;
3. Money.
New Zealand is well advanced. The lockdowns drove many small retailers and farm producers to the wall. Food prices have been rising steeply, in a country that has more food than it can possibly consume - which is kind of strange right there.
Then, NZ shut down its one oil refinery. The fuel being imported is rubbish, I've had to go to using 'Super' to get any kind of performance. Without fuel, NZ has no energy, the farms shut down, and the country starves.
Then, the Reserve Bank is working on a Central Bank Digital Currency (CBDC) that is programmable. They'll control how you spend your money, it will have an expiry date, rather like topping up your prepaid phone. The government will assign you a carbon score, use too much, they cancel your money. Call these carbon fines.
Key here is the government will control how you think. It is for your health and the planet. Don't like this structure - tough titties, as there will be no real democracy, all elections are now shams.
Of course, this is a recipe for disaster. Central control never works, but economists always think it will. For evidence - check out the USSR and how that turned out. By the 1980's, more food was produced by small holdings in the backyard than by large farms. The profit motive and individual endeavour is what works. These globalist shills are complete fools.
See this substack for how it will apply overseas, but NZ is not that different: https://threadsirish.substack.com/p/did-you-know-that-on-july-28-2020
March 15, 2022
June 13, 2016
Ken Horlor's Digital Currency
Okay, after criticising bitcoin yesterday, what would I do?
The following is my outline.
Link a digital currency to the production of silver. Silver is a finite resource that is readily mined. We know how much has been mined thus far, and how much can be produced each year.
If you like, this system could work in a decentralised way, with the bitcoin type of mining operation. Alternatively it could be centralised and run by a charitable foundation. Either way works, but I'll go with decentralised for now, just to describe what I'm thinking about:-
1. There have been 40.5 billion ounces of silver produced since the beginning of time, according to the US Geological Survey. We take a small proportion of that to form the core of what may be mined virtually. Let's say 40,550,000 ounces or coins.
2. Each coin at the current price would be nominally worth $17.22, which is the current silver price each ounce.
3. At current rates of extraction silver is mined at about 887 million ounces a year. This forms the rate of inflation, on top of the starting figure of 40.55 million, 887,000 coins (or ounces) would be added each year. You'll notice that I'm dividing production by one thousand.
4. This is where it gets interesting, I'd link the success of mining these units to the actual cost of mining the same resource in the real world. Overburden ratios, process costs, distribution - the lot. The more scarce silver becomes or more uneconomic to mine, so too goes the digital currency. If real output of silver falls globally then the amount of inflation of the virtual currency reduces.
Also, mining the virtual silver would have a skill factor included. This is so that those with just computing power could not dominate the 'industry.' Just as in real life, a small operator who is a good miner would be able to produce.
5. Then the secondary market kicks in and the currency is traded and exchanged amongst users.
With this decentralised model, the digital coins are created by virtual miners who are faced with the same uncertainty real world miners face. I'm starting with a figure to reflect where civilisation is at to this point, but adding to it each year to reflect progress. There is an element of intervention, in the case of how many coins to add at an anniversary each year, but this could be done through an auction or consensus model, and of course this wouldn't take too long as it only involves determining how much silver has been produced the previous year.
Derivatives could come into play as well. Miners could sell their output forward just as real miners do. This would create price stability.
What about tangible backing for the currency? In the decentralised model this would be very hard to achieve. But if centralised, then a charitable foundation could tax the miners and create a reserve of real silver and of derivatives. The proceeds of the charity could go towards anything worthwhile.
The underpinning of any system like this is trust. My model attempts to establish trust by pinning the creation of the currency to real-world values.
We could call this digital coinage bitDenarii. Derived from the Roman coin.
The following is my outline.
Link a digital currency to the production of silver. Silver is a finite resource that is readily mined. We know how much has been mined thus far, and how much can be produced each year.
If you like, this system could work in a decentralised way, with the bitcoin type of mining operation. Alternatively it could be centralised and run by a charitable foundation. Either way works, but I'll go with decentralised for now, just to describe what I'm thinking about:-
1. There have been 40.5 billion ounces of silver produced since the beginning of time, according to the US Geological Survey. We take a small proportion of that to form the core of what may be mined virtually. Let's say 40,550,000 ounces or coins.
2. Each coin at the current price would be nominally worth $17.22, which is the current silver price each ounce.
3. At current rates of extraction silver is mined at about 887 million ounces a year. This forms the rate of inflation, on top of the starting figure of 40.55 million, 887,000 coins (or ounces) would be added each year. You'll notice that I'm dividing production by one thousand.
4. This is where it gets interesting, I'd link the success of mining these units to the actual cost of mining the same resource in the real world. Overburden ratios, process costs, distribution - the lot. The more scarce silver becomes or more uneconomic to mine, so too goes the digital currency. If real output of silver falls globally then the amount of inflation of the virtual currency reduces.
Also, mining the virtual silver would have a skill factor included. This is so that those with just computing power could not dominate the 'industry.' Just as in real life, a small operator who is a good miner would be able to produce.
5. Then the secondary market kicks in and the currency is traded and exchanged amongst users.
With this decentralised model, the digital coins are created by virtual miners who are faced with the same uncertainty real world miners face. I'm starting with a figure to reflect where civilisation is at to this point, but adding to it each year to reflect progress. There is an element of intervention, in the case of how many coins to add at an anniversary each year, but this could be done through an auction or consensus model, and of course this wouldn't take too long as it only involves determining how much silver has been produced the previous year.
Derivatives could come into play as well. Miners could sell their output forward just as real miners do. This would create price stability.
What about tangible backing for the currency? In the decentralised model this would be very hard to achieve. But if centralised, then a charitable foundation could tax the miners and create a reserve of real silver and of derivatives. The proceeds of the charity could go towards anything worthwhile.
The underpinning of any system like this is trust. My model attempts to establish trust by pinning the creation of the currency to real-world values.
We could call this digital coinage bitDenarii. Derived from the Roman coin.