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The Decade in Blockchain — 2010 to 2020 in Review

2010

February — The first ever cryptocurrency exchange, Bitcoin Market, is established. The first trade takes place a month later.
April — The first public bitcoin trade takes place: 1000BTC traded for $30 at an exchange rate of 0.03USD/1BTC
May — The first real-world bitcoin transaction is undertaken by Laszlo Hanyecz, who paid 10000BTC for two Papa John’s pizzas (Approximately $25 USD)
June — Bitcoin developer Gavin Andreson creates a faucet offering 5 free BTC to the public
July — First notable usage of the word “blockchain” appears on BitcoinTalk forum. Prior to this, it was referred to as ‘Proof-of-Work chain’
July — Bitcoin exchange named Magic The Gathering Online eXchange—also known as Mt. Gox—established
August —Bitcoin protocol bug leads to emergency hard fork
December — Satoshi Nakamoto ceases communication with the world

2011

January — One-quarter of the eventual total of 21M bitcoins have been generated
February — Bitcoin reaches parity for the first time with USD
April — Bitcoin reaches parity with EUR and GBP
June — WikiLeaks begins accepting Bitcoin donations
June — Mt. Gox hacked, resulting in suspension of trading and a precipitous price drop for Bitcoin
August — First Bitcoin Improvement Proposal: BIP Purpose and Guidelines
October — Litecoin released
December — Bitcoin featured as a major plot element in an episode of ‘The Good Wife’ as 9.45 million viewers watch.

2012

May — Bitcoin Magazine, founded by Mihai Alisie and Vitalik Buterin, publishes first issue
July — Government of Estonia begins incorporating blockchain into digital ID efforts
September — Bitcoin Foundation created
October — BitPay reports having over 1,000 merchants accepting bitcoin under its payment processing service
November — First Bitcoin halving to 25 BTC per block

2013

February — Reddit begins accepting bitcoins for Gold memberships
March — Cyprus government bailout levies bank accounts with over $100k. Flight to Bitcoin results in major price spike.
May —Total Bitcoin value surpasses 1 billion USD with 11M Bitcoin in circulation
May — The first cryptocurrency market rally and crash takes place. Prices rise from $13 to $220, and then drop to $70
June — First major cryptocurrency theft. 25,000 BTC is stolen from Bitcoin forum founder
July — Mastercoin becomes the first project to conduct an ICO
August — U.S. Federal Court issues opinion that Bitcoin is a currency or form of money
October — The FBI shuts down dark web marketplace Silk Road, confiscating approximately 26,000 bitcoins
November — Vitalik Buterin releases the Ethereum White Paper: “A Next-Generation Smart Contract and Decentralized Application Platform
December — The first commit to the Ethereum codebase takes place

2014

January — Vitalik Buterin announces Ethereum at the North American Bitcoin Conference in Miami
February — HMRC in the UK classifies Bitcoin as private money
March — Newsweek claims Dorian Nakamoto is Bitcoin creator. He is not
April — Gavin Wood releases the Ethereum Yellow Paper: “Ethereum: A Secure Decentralised Generalised Transaction Ledger
June — Ethereum Foundation established in Zug, Switzerland
June — US Marshals Service auctions off 30,000 Bitcoin confiscated from Silk Road. All are purchased by venture capitalist Tim Draper
July — Ethereum token launch raises 31,591 BTC ($18,439,086) over 42 days
September — TeraExchange launches first U.S. Commodity Futures Trading Commission approved Bitcoin over-the-counter swap
October — ConsenSys is founded by Joe Lubin
December — By year’s end, Paypal, Zynga, u/, Expedia, Newegg, Dell, Dish Network, and Microsoft are all accepting Bitcoin for payments

2015

January — Coinbase opens up the first U.S-based cryptocurrency exchange
February — Stripe initiates bitcoin payment integration for merchants
April — NASDAQ initiates blockchain trial
June — NYDFS releases final version of its BitLicense virtual currency regulations
July — Ethereum’s first live mainnet release—Frontier—launched.
August — Augur, the first token launch on the Ethereum network takes place
September — R3 consortium formed with nine financial institutions, increases to over 40 members within six months
October — Gemini exchange launches, founded by Tyler and Cameron Winklevoss
November — Announcement of first zero knowledge proof, ZK-Snarks
December — Linux Foundation establishes Hyperledger project

2016

January — Zcash announced
February — HyperLedger project announced by Linux Foundation with thirty founding members
March — Second Ethereum mainnet release, Homestead, is rolled out.
April — The DAO (decentralized autonomous organization) launches a 28-day crowdsale. After one month, it raises an Ether value of more than US$150M
May — Chinese Financial Blockchain Shenzhen Consortium launches with 31 members
June — The DAO is attacked with 3.6M of the 11.5M Ether in The DAO redirected to the attacker’s Ethereum account
July — The DAO attack results in a hard fork of the Ethereum Blockchain to recover funds. A minority group rejecting the hard fork continues to use the original blockchain renamed Ethereum Classic
July — Second Bitcoin halving to 12.5BTC per block mined
November — CME Launches Bitcoin Price Index

2017

January — Bitcoin price breaks US$1,000 for the first time in three years
February — Enterprise Ethereum Alliance formed with 30 founding members, over 150 members six months later
March — Multiple applications for Bitcoin ETFs rejected by the SEC
April — Bitcoin is officially recognized as currency by Japan
June — EOS begins its year-long ICO, eventually raising $4 billion
July — Parity hack exposes weaknesses in multisig wallets
August — Bitcoin Cash forks from the Bitcoin Network
October — Ethereum releases Byzantium soft fork network upgrade, part one of Metropolis
September — China bans ICOs
October — Bitcoin price surpasses $5,000 USD for the first time
November — Bitcoin price surpasses $10,000 USD for the first time
December — Ethereum Dapp Cryptokitties goes viral, pushing the Ethereum network to its limits

2018


January — Ethereum price peaks near $1400 USD
March — Google bans all ads pertaining to cryptocurrency
March — Twitter bans all ads pertaining to cryptocurrency
April — 2018 outpaces 2017 with $6.3 billion raised in token launches in the first four months of the year
April — EU government commits $300 million to developing blockchain projects
June — The U.S. Securities and Exchange Commission states that Ether is not a security.
July — Over 100,000 ERC20 tokens created
August — New York Stock Exchange owner announces Bakkt, a federally regulated digital asset exchange
October — Bitcoin’s 10th birthday
November — VC investment in blockchain tech surpasses $1 billion
December — 90% of banks in the US and Europe report exploration of blockchain tech

2019

January — Coinstar machines begin selling cryptocurrency at grocery stores across the US
February — Ethereum’s Constantinople hard fork is released, part two of Metropolis
April — Bitcoin surpasses 400 million total transactions
June — Facebook announces Libra
July — United States senate holds hearings titled ‘Examining Regulatory Frameworks for Digital Currencies and Blockchain”
August — Ethereum developer dominance reaches 4x that of any other blockchain
October — Over 80 million distinct Ethereum addresses have been created
September — Santander bank settles both sides of a $20 million bond on Ethereum
November — Over 3000 Dapps created. Of them, 2700 are built on Ethereum
submitted by blockstasy to CryptoTechnology [link] [comments]

The Meaning is the Ruse

I just wanted to take the time to extend u/rrockwe1's interpretation of the game, as it was succinct and similar to where I instinctually landed. Actually, this turned into more of a provocation - I'm looking as to whether this is even the right direction rather than if I've stuck all the details. Sloppy, I know.
https://www.reddit.com/NeverBeGameOvecomments/bfzd79/the_ruse_is_the_lack_of_ruse/
Conspiracy is the "heart of the MGS" series, but I would add - as it's flavored by the technological mediums we partake in. The games are not traditional games but loosely connected simulations to discover a conspiracy and the power dynamics of those involved at the top of it. Not unlike our own world.
Setup:
To start, I would highly recommend everyone on this sub to check out Dan Carlin's SuperNova in the East episode 1. The "incidents" he talks about each play out like a Metal Gear game. We can't forget that Kojima, born in 63, is reacting to events that happened in the immediate generation prior, as we all do. Think Marshall McLuhan's idea of the rear-view mirror while listening. For this interpretation, the relevant takeaway from the podcast is that due to the changes in communication technologies from the industrial revolution, the equilibrium for conflict settled into subterfuge. It was when Japan became sloppy with this new normal (like a winning poker player staying at the table for too long) and accidentally ushered this country towards the most important identity-altering period (WW2) since the Meiji Restoration. For Kojima, I'm imagining/empathizing that if you don't understand this phase shift you don't understand your reality, an American reconstructed post-nuclear Mc-Meiji mess.
Now how does this relate to us internetted folk with our new communication mediums? Id love to also introduce this sub to Jordan Greenhall. In the linked post, he goes on to analyze the QAnon phenomenon and is able to abstract some properties that are very reminiscent of what I experienced through NBGO.
Q is the most recent and most important example of a widely distributed self-organizing collective intelligence. We’ve actually seen many precursors. Cicada 3301 is a famous example. Even the I Love Bees ARG for Halo 2. Perhaps Bitcoin is the most important precursor to Q.
These “self-organizing collective intelligences” (SOCI), are a new kind of socio-cultural phenomenon that is beginning to emerge in the niche created by the Internet. They involve attractive generator functions dropped into the hive mind that gather attention, use that attention to build more capacity and then grow into something progressively real and self-sustaining.
The Q SOCI is, for the most part, about sensemaking. It is combing through the billions of threads of “what might be real” and “what might be true” that have been gathered into the Internet and it is slowly trying to weave them into a consistent, coherent and congruent fabric.
I, like u/rrockwe1, think this ruse was designed. Meta-gaming design is not unheard of in videogames before as another favorite game of mine, FEZ, pulled a similar move in a simpler form.
Also a Gamasurtra article on the design style:
"There's a fourth really big influence that I haven't been honest about," Fish continued. "Myst. There's a lot of Myst in Fez, in fact I'd call it a 'Mystroidvania.' It's a huge open nonlinear world, with lots of super obtuse metapuzzles everywhere. The world has its own alphabet and numeric system."
"I don't know if that is still going to fly today, that's a school of design that's really very old school. There's a high barrier of entry for that second part to the game, and I hope there will be things that will take internet forums weeks to decipher. I want people to talk about that weird thing that they don't think they were supposed to find in Fez."

To begin:
Now we all know Kojima has had mixed feelings towards his own series as he's intended every MGS from 2 onward to be the last in the series (most likely returning due to corporate pressure).
This quote from 2014 about MGSV is telling:
"So in a way I guess I'm taking advantage of that to try new things, because every time I work on any game, be it Metal Gear or something else, I try to make new things. So for me, my challenge right now working on Metal Gear is, while preserving the elements that make it Metal Gear, to do all the new things I really want to do."
He's kept things new by innovatively making marketing Metal Gear part of the game experience; bringing an added self-awareness to gaming, fandom, and technology. While the Fez Meta-game was designed to solve newly enabled internet-forum-oriented puzzles, the metal gear Meta-games have been much more difficult to interpret, as they are often part of the artistic statement. However, Kojima has deliberately moved "the game" aspect to encapsulate before, during and now After release*.* Thus as this relates to MGSV, I believe NGBO and similar sensemaking forums will go down as part of "the game" just as much as we can easily state that Metal Gear Marketing before release has been part of each other game in the series. What is MGS2 if you didn't pay attention to the codec briefing marketing of the game.
For me though, MGSV is an artistic attempt whose meta-game is an attempt to implode the series's own need for more Canon while simultaneously commenting brilliantly on the reality around him.

Imploding Canon - Kojima on Fandom
Can the quest for further interpretation fuel and mask different needs (like a need to simulate violence) and can that devolve into self-defeating patterns or as Skullface put it "an endless loop of action and reaction?"
Do we play metal gear to gain an understanding of Kojima's critical worldview (anti-war, anti-nuclear, anti-authority themes) or to get gratifying rushes of pixelated violence that glorify what he condemns?
These questions are what have plagued the metal gear universe, with the "action and reaction" being fan adulation of a new installment in the series -> leading to corporate pressure -> leading to another unplanned sequel with an intended aesthetic to make us realize the absurdity of the universe he's constructed -> only for our interpretations to fall partially flat on release -> leading to fan adulation...
However, this exact dilemma we fans face when playing a metal gear game is nearly identical to those the characters face in MGSV. The need for more canon becomes self-defeating for the likes of Kaz, Venom, and SkullFace trying to enact revenge. Kaz and Venom need the canon to continue so they can manifest new objects for their revenge - which is the intent of the drawn-out nature of the second act. We, as players, seek something as deeply unmet as the characters in MGSV's need for revenge is. This juxtaposition is an attempt at making you self-aware about this - to reflect back the tragically flawed state its characters inhabit on to you and draw the connection to your fandom.
This is a game not lacking in canon but is anti-canon. Canon that consumes the need for further canon.
The only constructive answer he gives is "to exit", which is embodied via Quiet's character. Quiet, written, displayed, and expressed with purposeful alignment to nearly every stereotypical Videogame trope on women, is a prisoner of the medium she's embedded within. She exits her role within the canon when sexually assaulted by a soldier (a proxy for videogamers at large) or to put it another way, when her role was taken to it's extreme (shock therapy). We need to do the same as Metal Gear fans who are cast within the game as Venom.
With his anti-canon deployed, Kojima can now "exit" in peace that the series is put to rest psychically for fans. Instead of clamoring for more.

How "to exit" - or how Kojima prepared me for the 21st century
MGSV's narrative is bare bones on the surface but speaks volumes to hardcore Metal Gear fans.
You, as part of the most knowledgable/obsessive sect of Metal Gear fans, know something is up with this game. Something hasn't sat right in your gut and it continually doesn't sit right. Thus, you naturally sought solace and understanding within a place like NGBO. We came together and exhausted every possible interpretation we could think of as to what this game is. We started doing the homework, building our best ideas and challenged simplistic notions. This collaboration via learning to definitively seek truth as a group is the point of the Ruse Cruise and serves as the antithesis of MGS2's outlook. Now if you are Kojima, what would build this muscle the best within your fans?
  1. Create a conspiracy, reveal its truth, and reward fans for their hardcore vigilance
  2. Fabricate all the necessary parts for the facade of a conspiracy yet deliberately having none to force fans through the emotional ringer of figuring out what is true. A gaslighting job.
For me, I settled on it being the latter which truly pushed me as to what was healthy, valid, and useful to believe in. The meaning and wisdom from this game was transmitted/felt for me once I "exited" and realized the insanity I let myself believe. In this interpretation, we serve as art form to others - showing what happens when a fanbase loses its collective mind and pieces it back together again.
Now, why would anyone want to encourage this group behavior? Marshall McLuhan has another nifty quote that points us in the right direction with this:
"World War III is a guerrilla information war with no division between military and civilian participation."
There's this running joke within the ChapoTrapHouse fan community (not a fan, I just observe where metal gear gets talked about) that life is beginning to resemble a Metal Gear game. Biologically genetically altered dystopia, check. Insider leaks of grand governmental conspiracies, check. Zany political characters seizing power, check.
Metal Gear Solid V's Ruse cruise was a simulation for a reality that's to come/is here like how MGS2 was a simulation for MGS1. We know we are lied to by authorities and we know the internet is a mess at being an alternative. Thus, Chaos. For Kojima, my guess is that he wanted to kickstart a version of grassroots behavior that will be important in combatting this "truth recession," because telling us via MGS1-4 doesn't seem to work in changing people's behavior, we have to actually crash and burn in doing it. WW3 is here, we got a slice of training.

Thanks For the Read :)
Also,
(my edgiest take is that I think he's embodying his own vision from MGSV. Kojima is Ahab/Venom for Death Stranding's development).
submitted by badco37 to NeverBeGameOver [link] [comments]

Blocknet 2018: What to look forward to!

With 2017 coming to an end, we wanted to provide the community with some updates regarding what is on the horizon for Blocknet in 2018, but first let’s take a look at what this community has accomplished so far.
2017 was a busy year for Blocknet! With the launch of the new production chain, the Service nodes launch on mainnet, the partnership with VSA to build the Blocknet UI (as well as the UI Reveal) and the implementation of the Community Governance System, it has been a very productive year. This is what was achieved…
Blocknet in review 2017:
BitBay (BAY), Bitcoin (BTC), Bitcoin Cash (BCH), Blocknet (BLOCK), Dash (DASH), Decred (DCR), Digibyte (DGB), Dogecoin (DOGE), Dynamic (DYN), GameCredits (GAME), Faircoin (FAIR), HShare (HSR), LBRY Credits (LBC), Litecoin (LTC), Monacoin (MONA), MonetaryUnit (MUE), Namecoin (NMC), NavCoin (NAV), Particl (PART), Peercoin (PPC), PIVX (PIVX), Potcoin (POT), Qtum (QTUM), Sequence (SEQ), Stratis (STRAT), Syscoin (SYS), Vericoin (VRC), Verge (XVG), Vertcoin (VTC), ViaCoin (VIA).
Recent Developments
In addition to the above, there are some other recent developments we would like to mention:
What is on the Horizon for Blocknet in 2018?
Moving forward into 2018 there are many exciting developments to look forward to:
Note 1: Upcoming milestones are subject to change, and some require new ground be broken in crypto, and thus are to be interpreted as intents, not commitments. Development is in an agile manner and so is not to deadlines; Rather, continual progress is to be expected.
Note 2: All names are Rocketchat community handles.
A very merry Christmas and a happy and prosperous new year to the community! 2018 will be fantastic!
submitted by Blocknet to theblocknet [link] [comments]

Transcript of George Webb Video Series Part 307 "Hillary's Leakers, Hackers, and Henchmen" [@Georgwebb / #HRCRatline]

  • Day 174.2. Chicago Live - Essential To Mention The Menschels - YouTube
    • Good morning Chicago good morning Chicago you can see that the snow is still very much a part of the ball game here in Chicago
    • And I wanted to do a little bit of a live stream
    • Task Force is of course we've got a water taxi just leaving now
    • I wanted to do a little bit of a live stream while Task Force I'm not I don't smoke, but somebody left them wanted to do a little bit of a talk about some of the different things going on here
    • And kind of this kind of Deep State war that's not necessarily obvious
    • But I believe it's going on
    • And just catching our breath before we all jump to war like we did in Iraq where we ended up there like 11 or 12 years
    • Or in Afghanistan where we ended up there 17 years and we're still fighting that war
    • It seems very much like building a hotel like Trump Tower which just around the corner he can't quite see
    • Now, they coming for you Rahm this early
    • Now, a lot of people mentioned when I mentioned when I did the salute to the Fire ambulance yesterday that Rahm may very well have been just as a woman and trying to make his exit again, out of the city
    • So there was that possibility and I'm sorry I didn't allow for that
    • I just was saluting the people that were driving the ambulance I wasn't thinking about Rahm hiding in the back as a nurse
    • Bo but you could see if you were trying to build rail cars in China China China instead of Chicago where you might want to have to use that kind of escape
    • But let's get back to the issue at hand here what we're really talking about today is the power of the press
    • The power of cable news the power of mass media to send a whole nation plunging into war without really thinking about it
    • And of course is as there's other channels that have described how much I am a descendant of the Hearsts
    • So I had a chance to call William Randolph Hearst this morning
    • Of course William Randolph Hearst had a whole consortium a whole network a whole syndicate of papers
    • I remember grandad when when I would get up in the castle
    • And he would have 15 phones all cradled on each side
    • And he was telling different news editors in different cities what that title is gonna be
    • So no no respite for Spain and--Spaniards out of Cuba
    • And he would have a slightly different angle on all the different titles
    • I'm wondering if that's not what we have now, only it's just called the Broadcast Board of Governors, right
    • {{ 911: George I love your silly schoolplay segues }}
    • It's the broadcast Board of Governors
    • And Governors in the worst sense of the word: meaning we're gonna tell you what to write
    • And indeed there is a lot of talk about a 4:00 a.m. cut sheet that goes out to all the Victoria or excuse me the I can't remember her name right now, at CNN, wife of Tom Nides, to tell them hey here are the big talking points this morning--I saw Adam Kitzinger from Illinois I want to say 14
    • But I'm guessing
    • From Kankakee Adam kissing her from Kankakee saying hey Trump doesn't need Trump doesn't need authorization from Congress he can just go plunge right ahead plunge the nation straight into war
    • Forget about the War Powers Act--and forget about informing Congress and having a debate or anything like that let's just go ahead and start bombing weather weather--Russia did the attack or not or or Iran did the attack
    • But you start bombing like Israel did
    • (Well I think Rahm I think they're cleaning out the whole cabinet--that's not just one or two Rahm they're coming for everybody...everybody who called in the Mossad airstrike...I think they're cleaning out the whole top deck there Rahm)
    • We'll get down to the Flamingo and the Picasso there
    • (There's good reason to believe here that...Is Weiner in town as well? as Debbie Wasserman-Schultz did they have a United Center super box event )
    • {{ WEHEEEEEEEEEEEEE Sirens }}
    • Now, there is an ugly rumor going on in Chicago right now, that Rahm has learned to drive a fire engine
    • And he is making his way around the city, and he's got a very long handlebar mustache
    • Let's see if we can pick him up as he comes by {{ REEEE }}
    • He seems to need a little bit of a booster seat
    • I have to believe that wasn't Rahm a guy had pretty wide broad shoulders, so I'm gonna go ahead and just say right now, I don't think that was Rahm
    • But if you and I don't really mean to pick on the Sun I really wanted
    • I don't want to talk about old Mossad maybe that's Rahm entourage
    • I really want to talk about kind of the business interests of war
    • I remember when Grandpappy Hearst would talk about that and the money the spoils of war
    • Oh so many years ago at San Simeon
    • But the we were yesterday we filmed down at Federal Plaza
    • And as you all know they were closing in and demanding documents from the DOJ to go over to Bob Goodlatte in the House Judiciary
    • And also over to Devin Nunes in-house Intel
    • And we successful or we showed the relationship of how close the guy who was put in charge of that activity a guy named LAUSCH was to the head of the counterterrorism division in the FBI bill Priestap
    • I mean very close
    • But it goes deeper than that and--he's married to someone named Sabina Menschell
    • Now, you might say [[Sabina Menschell]] Sabina Menschell Sabina Schmentzyl and what does that mean to me?
    • Well it goes back to what I've been saying about privatizing, like CrowdStrike
    • Privatizing our Intelligence community for private profit
    • And Sabina Menschell is one of the top lawyers at a kind of a Fusion GPS type firm called [[Nardello]]
    • Nardello has a lot of ring to--of other words that rhyme with Nardello
    • But Nardello is kind of one of these covert operative kind of attorney-client privilege base--spy firms in Washington DC
    • I don't think anybody doubts that I think if you Sabina Nardello was right here we had her say that she'd say well you left out the part about super spy--she would be the first person to say yeah we're super spies
    • Well if you look at who Sabina Nardello's parents are or yeah is one of them is Celine Selene Menschell M E N S C H E L
    • And Celine Mitchell was Goldman Sachs
    • She was VP Goldman Sachs--and when you're at Goldman Sachs you can invest in a whole panoply of things
    • It's hard to really pin you down and to--oh that was depleted Uranium oh that was whatever that was this spoils of war investment
    • That was that swells war investment, but the real player is Bob Menschel
    • Bob Menschel was is a billionaire he's one of the top guys he has an endowment at the Council on Foreign Relations in New York
    • He has an endowment at the Museum Modern Art in New York
    • He's he's based here in in in Chicago though
    • But anyway he's quite a wheel
    • He's got the like the philanthropy prize from Carnegie
    • And in 2015 he's quite the investor
    • So he's quoted a lot in Forbes...and it talks about value based investment...but he's a billionaire
    • Now, when when they want to go to war what they do is they pick up the phone, and they call Rahm
    • And say Rahm you've got some guys at the lower levels of the Israeli Air Force IDF
    • Why don't we just put a little fire on--T4 over there in the middle part of of Syria
    • Let's let's get this to be a shooting war
    • Let's try to get Trump all jacked up and make this a shooting war
    • Is that happens?
    • Yeah that's what happens
    • Because there's all sorts of business for Nordello at that point to do covert operations overseas...it's a real Rainmaker
    • So this is not like 18 steps removed to Mossad--you know Avi Bravermans Masada then
    • Again,--this is like one hop from Bill precept when he I mean he his uncle I mean hey Uncle Bob: where do we invade today?
    • How do I--exfiltrate a whole bunch of business to my wife today?
    • That's where we're we're talking about so I think it's time to kind of peel back the onion a little bit
    • And look at the motives of the people involved here
    • And stop with this kind of knee-jerk reaction saying oh--Spaniards out of Cuba--Remember the main--All that kind of stuff
    • Although--I remember when we used to have tea up here at the top of it--of the Wrigley building with Grandpa Grandpa Hearst it was it was well it was quite a quite a thing
    • So everyone wonders where Task Force's
    • Task Force's doing her thing: she researches crazy crazy crazy in the morning
    • She's just up early and she's always researching
    • So we're gonna have a lot of stuff on the south side of Chicago a little bit later today
    • So we're not gonna talk about that right now
    • But I wanted to mention the Menschels because if you don't mention the Menschels, you don't get the essentials
    • So to really understand this war and what's behind this war you have to mention the Menschels and understand the essentials
    • These are the essentials of war, not the trimmings not the--grandpa Hearst with all the phone saying this is what the headline is gonna read today
    • You've got a look beneath the headlines beneath the story and get the true story, which is there's a lot of business interests that make a lot of money
    • And as I did my first piece this morning there's also a way this kind of a cleansing action--you have a war or and then you have a big flood it kind of cleanses everything
    • That's why they always at the end of the war want to break the dams, it just kind of cleanses everything out
    • Same kind of thing here there are 50 I think it's 57 sites where chemical weapons were used by Isis
    • Again, we funded it, by Isis in Iraq, excuse me it's still very cold here in Chicago, still a whole bunch of sites in Syria where we took oil fields in Syria
    • And what it what a great thing to go back in with all the same--cast of characters that John McCain loves to meet with surreptitiously right before gas chemical weapons attacks or Mark Rubio
    • And wait--we did it with in Libya with Qaddafi why not do it over here--with Isis and the king king of King Abdullah in Jordan
    • Why not do it again, gee whiz it sounds like a lot of fun
    • So the big that's the big thing I wanted to say this morning let's catch our breath let's think about it just because Adam kid singer--wrote around in a Humvee for a little bit doesn't mean he he declares foreign policy in the United States
    • We do have something called the War Powers Act we do have a balance of powers
    • We should have a debate about this going to war
    • We should look at it who's really driving this?
    • Is it really because the coup didn't go so well--isn't that what really is happening here?
    • The coup didn't go so well the Comey Lynch McCabe Rosenstein Priestap coup kind of fell on its face
    • So what do we have now, we have Bill Priestap basically over at the Federal Plaza here in in Chicago where don't worry we'll broadcast later
    • And he's--calling the shots he's calling over to Rahm a couple of blocks away--Calder to Picasso Calder to Picasso there's a Calder her artwork it looks a lot like a Picasso
    • And there's Rahm has a Picasso over by City Hall he's saying hey what can we do to get like I push Trump push Trump into this kind of knee-jerk reaction well I know we'll hit we'll hit a site and kill a bunch of Iranians
    • well great I mean maybe that's the response that we need
    • But maybe maybe we need to sit back think about this
    • All the targets are gonna stay right where they are
    • You can't move a missile base or you can't move you can move ships
    • But you can't move all these fixed targets--you can move some trucks around
    • But I mean for the most part the bombing targets are the same when Obama had the same decision
    • And Obama if you remember correctly I don't want to make anybody mad
    • But he said to Fadan, Turkish Intelligence "we know it's you. We know you were the guys who did the chemical weapons attack in Aleppo, and we're not gonna do it"
    • I'm not gonna cross this red line because it's a fake red line Trump
    • Should do the same thing I've got to think about this before we plunge the whole country into war
    • So I'm gonna take a few questions here
    • And then we'll wrap it up here very bright
    • So all right Wow
    • So it's impossible to read
    • So I'm gonna give up on that
    • But later we'll be broadcasting from Hearst Castle
    • We'll be going through all of our inventions for the time phone
    • I'm just kidding no actually--I want to say that that episode that Quinn did was actually pretty good about my dad
    • There was a lot of facts that were covered initially before you got to the time phone and before you got the Hearst Castle that were actually really right on the money
    • {{ 911: George You dum dum dodo head. Stop lying. Everyone knows that a "Time Phone" can be used to talk to someone in the future, wirelessly through an etheric, booz-weinstein condensate bridge to refuckulate biophotons through a rare noibium doped baby tailbone crystal and neptunium element 93 scalar antenna, using icosocarbon nanotech to matrix stem cell microtubules in an n dimensional manifold across a lambda time dimension. It's not invented for another 33 yrs...Quinn exposes all of this. And you've been talking to Granddaddy Hearst who didn't die, but instead went into the future using Emperor Barron Trump's Tesla Time Machine Apparatus developed by his uncle Dr John Trump and given to Donald; and THAT is how you're so prescient in all these investigations. You're getting help FROM THE FUTURE, you cheater! Stop Lying, George Norbert Luuk Hearst III, Prince Wakenhut of Gildenbourg We're on to you! }}
    • And a lot of those did actually go into an investment firm here in Chicago in it I do believe that's one of the reasons they bought the patent
    • And got the patent for Google for Motorola first been to Google
    • So we'll talk about that later
    • I'm gonna leave it right there thanks everybody it's been a great having my morning cup of joe with you all
    • And I can't read the questions unfortunately otherwise I would answer them
    • But you've got to mention the Meschels
    • I guess the essentials are you got to mention the Menschels, because if you don't understand the Menschels, you're not gonna understand actually who's calling the shots why
    • And I didn't mean to say Rahm called in to some Colonel running some air base and did the T for attack I'm sure it in Homs
    • I'm sure Bibi had to sign off on
    • And they said baby we're gonna run you up on--charges if you don't--sign off on this one
    • But this is the old Mossad wisdom, where you go look why why do you want to do this?
    • We're gonna make money just go into southern Syria sit down with Cheney and Woolsey and the whole crew and Rothschild child
    • And say we're gonna take 30 miles of Golan Heights
    • We're gonna give you fitty you get fitty
    • Here's your fitty and--be happy with the fit otherwise we're gonna--start bombing--
    • If you're gonna just be strong Arming, because you want the Golan Heights there's no reason to kill all these women and kids just go in there strong, and say hey we're gonna make the bigger Israel play
    • We're gonna take 30 here's your fitty you were done
    • Trump's a dealmaker we don't need to draw this bombing where then
    • You know what? Let's leave Raytheon out of this
    • And let's leave McCain out of this
    • Just do it at the business table
    • Do it at the table--when when Trump built Trump Tower
    • He didn't say hell I got a great idea let's build Trump Tower No it's a
    • <
  • Day 174.3. Trump Attorney Raid Coughs Up Pinchuk and His PinchBears Hacking Team - YouTube
  • Rahm? Rahm? Rahm? It looks like he may be in the back
  • I do see a gray-haired older gentleman in a nurse's outfit
  • It looks like he may be held in traffic now
  • I do think somebody spot him spotted him here on the bridge
  • And I was trying to get the I was trying to get the Bitcoin to him
  • But I do think Rahm Emanuel was cited
  • So I did see someone a white-haired gentleman in a nurse's outfit duck in with a handlebar moustache, duck into the, duck into the ambulance
  • We'll see if he gets out of the city safely
  • We'll see if he gets out of the city safely
  • We'll have an update for you a little bit later we're worried
  • well we're back live Chicago I thought I might have been able to get the thing to him
  • I had him just to meet me on the corner with an uber but he was clearly sighted
  • Now, he was already pre dressed Rahm was already pre dressed in a nursing outfit EMT outfit
  • So anyway Pinchuk
  • [[Pinch Bears]] Pinchuk
  • So now, there's a hundred and fifty five a big raid on Michael Cohen's office is going to yield one hundred and fifty thousand dollar donation to Michael Cohen to Trump's charity for one hundred and fifty thousand dollars
  • Well how do we know Victor Pinchuk?
  • I believe this is before or maybe right about the time Trump runs for president
  • Well we know the Victor gave five hundred thousand dollars to Bill Clinton for a speech
  • And we also know that he gave quite a bit of money to the Clinton Foundation
  • We also know that he did a deal called Vero Pharm[sic] [Vero Pharma] that later became one of Rahm's partners in Abbott Labs
  • So we know about that we know about Joe Rago ending up dead
  • We know about the Pinch Bears the Pinch Bears the hacking team
  • The CrowdStrike hacking team that came from Dimitri all pair of itches Alperovich's dad, that were kind of split-offs from the Soviet Union
  • We know that these oligarchs--which are really just criminals like Deripaska and Pinchuk--get teams assigned to them
  • They get hacking teams assigned to them to do economic espionage, so that they can take over assets like the New Jersey Nets or the Brooklyn Net now
  • So that's all developing
  • Again, I want to say there's no names that you learn in this series that don't end up paying off
  • Well as Jack Nicholson said in silver dollars that you're gonna light up like a pinball machine eventually
  • Every name in this series is gonna light up like a pinball machine and pay off in silver dollars
  • Pinchuk is just yet another example of Hillary accusing someone else of something that she does a thousandfold more on the other side
  • Again, we'll wait for the next is Firtash next?
  • Trump's response to me would be to immediately sanction Pinchuk
  • Shut down the Nuge take the Brooklyn Nets into receivership
  • Take the hockey team into receivership
  • Take the Brooklyn casino into receivership immediately
  • Freeze all assets overseas overseas of Pinchuk's assets, until we get to the bottom of this pay-to-play
  • {{ 911: Chicago is a noisy ass evil place I never want to go back to. It's nasty! No wonder Rahm and Obama and all the baddies consider that their center of operations. If I were Putin I'd nuke Chicago as #1 target }}
  • Day 174.4. Hull House Horror? Did Weather Underground Bomb From There? - YouTube
    • Well here live at the University of Chicago famous for many things famous for the Manhattan Project famous for a lot of stuff before Manhattan Project
    • But the football stadium here is where the Manhattan Project was originally developed
    • So it's very famous for that
    • We're also in front of Hull House
    • Hull House the subject of many different commenters--Field OConnell[sic] [[FIELD MCCONNELL]] being one of the key commenters
    • So there it is Hull House--it's kind of like a 1856 is when this house was built it's a two-story building
    • And right on the grounds of the University of Chicago
    • So Task Force I knew I shouldn't have started good we have we we we have several McCabe zealots out on the internet that want to attack our guests for some reason that's I understand that they want to protect Andy McCabe or our big Andy McCabe fans
    • But anyway we're leaving that aside right now
    • Let's talk about it let's talk about whole house, and some of the things Field O'Connell's[sic] [[FIELD MCCONNELL]] research is done and Kristine Marcy and the SES and all that stuff
    • TF: Well Field McConnell is from [Abel Danger]
    • So give a shout out to him he's done a tremendous amount of work on this
    • But Kristine Marcy would
    • G: Now Able Danger program was a program--
    • TF: the program that was [Able Danger] was the original program run by Lieutenant Colonel Tony Schaefer prior to 9/11 that was tracking the 9/11 hijackers
    • G: Tony Schaefer track in this would blind Sheikh and all those
    • TF: all those guys and
    • So that Abel Danger that became a kind of a website of people involved and kind of exposing 9/11
    • G: 9/11 Truther Stuff
    • TF: 9/11 Truther Stuff
    • But even more than that Phil McConnell was Air Force pilot he's got his own jet in a museum
    • And it's tremendously knowledgeable guy
    • And his sister happens to be named Kristine Marcy
    • Kristine Marcy was part of starting what is now known as the SES in 1979, as Senior Executive Services
    • Something that's coming up on the internet everywhere right now
    • One of the things that Field talks about is that the SES was part--Hull House is kind of part of that there was some very controversial things that happen at the Hull House
    • And I just encourage people to research it
    • The tie-ins with Sidley Austin law firm, as well as some of the
    • G: Now [Sidley Austin Law Firm] I remember seeing the Sidley House by Tenleytown in Washington, DC
    • Any connection?
    • TF: Well I don't know...I know there's a school for children and politician that
    • G: Rahm Emanuel I think was a ballerina yeah ballet dancer well I'm not sure
    • But then there's a Sidley investments here on Dearborn right yeah in Chicago, so we'll have to do some more research
    • TF: yeah Sidley Austin Law Firm is where to the most famous people in our country first met and so you guys can research that look into that
    • G: I think you're speaking of Barack Obama and his wife Michelle Obama
    • I'm gonna go ahead and use those code names from here on in for those two individuals
    • TF: and so I'm looking at that and then also the fact that Bernardine Dohrn who was part of the Weather Underground...along with Bill Ayers
    • G: Along with Bill Ayers
    • G: A lot of people say Bill Ayers wrote the ...all three autobiographies that I read about Barack Obama, codenamed Barack Obama, as is that true?
    • TF: That's what people say I don't know, but I know that there's there's a connection with Bill Ayers, bnd Bernardine Dohrn Sidley Austin law firm, and Hull House
    • And I think it would be interesting for people to look into why did that occur why was it shut down suddenly in 2012 why is it?
    • Now, I mean what actually happened here in the tie-ins that filled McConnell's know
    • G: So I'll fill in a little bit
    • I think around 1889 is when they say that--my grandfather would have been coming through here right around that time
    • He didn't come through Chicago he came through Ellis Island in New York
    • But a lot of immigrants could not speak English
    • They didn't have any skills
    • A lot of more children
    • A lot of them had sick parents, and ended up a lot of children ended up here
    • TF: I think they have a yeah it was mostly an orphanage, so that's kind of boys house in a girl's house
    • G: And there was a young singles girls house called the Jane House as well
    • TF: Jane Addams is the founder of this place and so you can do research on her as well, and kind of get into the history of this place to be really informative for people that want to learn
    • G: Now, interesting that this is on the property of the University of Chicago, and that it's under the jurisdiction of the Chicago Police
    • As an ex-police officer you may have some comments about that?
    • TF: Well the University of Chicago has its own Police Department as most universities do
    • And So I had read an article recently that they were actually patrolling we're doing work with about 65,000 of Chicago residents which is odd for a university campus police department to be involved in
    • So I actually made a phone call earlier just doing some research on policing in America
    • And talked to a lieutenant there
    • And he advised me that no, they they only work on campus
    • But he said they do go off campus a couple blocks here and there, because he has students that are commuting
    • Which is okay, but it's kind of contradicts what the article says, so I'm just curious as to how that works
    • G: we had this shooting that occurred, and it was a it was a University of Chicago police officer going off campus
    • And shooting somebody who was supposedly breaking windows or something like that off campus
    • Now, that would have been I don't know persona non-grata
    • If you keep going this way, going west, you go through the Chicago University Medical District
    • They have a thing called University Village, which I would understand that University Village that would be--the students...but you go to the University Medical District
    • Now, all of a sudden, if you start putting a bio the two stories we've done here together Bioresource center with the--$5,000 for a body no questions asked
    • And you put it together with the Medical School District that--rush rush hospitals in there
    • There's several major hospitals just to the west of us
    • And then you go a little bit further, just a little bit further, you're in Homen Square
    • TF: Which we're going to go visit
    • I mean and there is a real
    • I mean if all of a sudden you start putting bounties on people's heads you really create a moral hazard for humans
    • That's about best way I could say it
    • TF: yeah
    • G: If they're if fresh kidneys come out get your fresh kidneys, and a kidney's worth twenty fifty thousand dollars, you could find a lot of reasons why you need to shoot your best friend, right?
    • TF: Yeah I would hope you would not want to shoot your best friend for kidneys
    • But if you create a market you're gonna have that in there has been some stories coming out about stuff like that
    • So I think people should research it
    • And look into Homen Square in Hull House
    • And University of Chicago
    • And the other the other a troubling part about Homen Square
    • And potentially potentially Hull House is the we're doing liaison operations for other countries
    • So we're actually operating potentially as a torture Center for other countries
    • So it's off-book in the UK let's say
    • Or let's say Haiti or whatever small dictator we want to prop up, like let's say Kagame in Rwanda
    • And then we send ours there, if we want to torture somebody right?
    • I mean we don't have to report that to our Congress, because it's not a US citizen
    • And they don't have to report it to their Congress that's it they're not they're not a citizen of that country
    • TF: right I don't know all the--Jack Federal laws on that, but it seems like there's definitely something to this going on
    • And this has been a niche
    • And many times then it's come out in many different articles a lot of people don't want to talk about it
    • But that there was a con air yeah that was taking the US Marshal Service and they were flying people to Homan square yes
    • And here right
    • TF: And here in the whole house some of the individuals inside of us were used for reasons that people really need a research
    • G: So there's a there's an old joke in Monty Python not necessary ...life of brian which where he comes home, and he has too many kids he's the catholic guy, and he says well medical experiments with a lot of you--
    • We're so close to university medical district yeah you just you get beauty kind of get a creepy feeling you get a creepy feeling one in the house I'll just say that
    • TF: yeah definitely creepy is the feeling that I would describea and we got a chance to visit all the original house
    • And you can see all the old buildings and stuff which--is amazing
    • But you can also see and--if you research you learn enough stories and there's not so good things that happen here as well and
    • G: So so we've got one of the university's finest rolling up on us
    • Now, and so if he draws a weapon we will probably execs it from see him right down here
    • So we will probably draw a few drawings a weapon on us for speaking we will probably leave the premises
    • And remove ourselves to a public sidewalk
    • So with that you there you have it I think I will I'm gonna get I'll give you a little perspective of Hull House
    • And make sure I don't get the person who has recently been attacked by McCabe fans on me on the wide shot here
    • But you can see it's a beautiful old stately house
    • And there's 19 of these different houses on the 19 of these different houses in the whole complex
    • So all McCabe fans out there we understand you had a lot of hate toward us I get that
    • So continue the hate campaign
    • But the one way you can fight out against people who support McCabe is by giving to different people we feature here on this channel
    • Robyn Gritz would be one of those folks
    • And of course we have our own Task Force
    • And they both have their own GoFundMe or different different oop you're not on that
    • So we're gonna leave it right there from beautiful hell house Hull House here in South Chicago
  • Day 174.6 Flashing Red Bandana Means Get the Fluck Out - YouTube
    • We're gonna live again, here at Homen Square
    • I just want to say that homeland square is trying to do stuff that rehabilitates the area...
    • You can see the smokestack on the other side from where we were and
    • So it's not I mean it's not all Chirac--and there is--we had the other night where seven were murdered in one night in a small neighborhood called South Shore
    • And Garfield Park not too far from here
    • I've watched this actually for about a year that I've done shows on Homen Square
    • And it moves around--the murders move around
    • And--they're they happen in clusters four and five at a time
    • And in these different neighborhoods
    • Homen Square typically doesn't have as many as like Garfield Park is the one I
    • And Austin is another neighborhood that it seems to have a lot
    • South Shore not so many
    • But anyway it is--we've had
    • And I mean the TransAm that rolled up on us put the red bandana on the mirror
    • And they were not I mean they were like, "hey what the fuck you doing here?"
    • Is this our Lyft?
    • TF: yeah
    • So anyway all true, Task Force?
    • TF: All true
    • G: we're gonna head out
  • Day 174.7. Lyft Driver Witnesses Cold Blooded Murder Up Close - YouTube
    • So back to downtown Chicago not a very long ride actually from Homen Square here
    • And we had a chance to talk to a young mother
    • Well I don't know if she was maybe 28 29 30 something like that
    • But five kids
    • And she was telling us a story about well why don't you take it from there
    • TF: literally her children can I even go across the street to play in a park right across the street even if it's too dangerous
    • She talked about constant shooting she's witnessed a friends was murdered in front of her the lack of response from the local police
    • But just one second while the truck goes by yeah the one word meant
    • G: the one murder she witnessed up close the guy was shot eight times
    • TF: And the person was arrested let go
    • G: And she was one of the brave ones at the park that came forward
    • So that doesn't feel very good when you are the one of the people that comes forward and all of a sudden now
    • G: and then her cousin was murdered
    • TF: she's talking a lot about the statistics now there's some reporting that the statistics are getting better on the murders
    • And she said no they're actually fudging the statistics because she said that she could count 33rd 30 that she was looking for the paper
    • And never showed in the paper
    • So talking about the train stations
    • And just had literally train train stopping in these early hard neighborhoods
    • And just--like AR is out robbing people on the trains
    • And it's real sad
    • G: you you almost I mean I hate to say this about Chicago because I love Chicago and I've spent a lot of time here
    • But I almost get Trump's idea of Nan of martial law until you get a semblance of some kind of neighborhood
    • Because I mean the guys that rolled up on us it was just straight out--we are if you don't get back in that damn car they were gonna wait til we left--it was absolutely no doubt
    • And make we were in the middle of a of a desolate Street that only had broken glass on it
    • And our driver actually was scared to be there
    • G: yeah yeah our driver did not want to go there hey
    • And I figured well who would come here to this broken glass--who's gonna be who's who's there was nothing
    • I mean nothing no reason whatsoever car would stop there
    • That guys came right up and we didn't want you to want to shoot their picture because--we kind of wanted to live--that was good
    • But the bandana was there
    • But anyway I just think that--when I can count 38 murders that I know about personally
    • She said shooting every night shooting every night
    • And they're two minutes away from a train a police station
    • >>>CONT
submitted by 911bodysnatchers322 to TruthLeaks [link] [comments]

Immutability and Proof-of-Work - the planetary scale digital monument by Andreas Antonopoulos

SOURCE: Immutability and Proof-of-Work - the planetary scale digital monument TRANSCRIBER DONATION ADDRESS: BTC: 1Pd9FRd5orehCLi41sVjd2oY7R5PN78fpD
 
00:00:00
 
Good evening everyone. Thank you for coming. Welcome.
 
It's really a pleasure to be back here at plug-and-play Silicon Valley. I believe this is my fourth or fifth presentation for this particular meetup, which keeps getting bigger and bigger every time.
 
Every time I come, more members. How many of you RSVP'd for this meetup? Ok, a few people just showed up. I have some good news and some bad news.
 
The good news is if you just showed up, you're welcome, stay. The bad news is that I drew names from the RSVP list, to give out ten copies of my new book "The Internet of Money". I'm going to have to ask for that one back.
 
Oh you brought it?! Ok. I thought it was from my stack.
 
** laughter **
 
Refunds and returns. So at the end of the show, I'll give out 10 copies. If you're not particularly interested or you already have a copy, just let me know and I'll just call the next name in the lot. If you're not here, you can't get the book so please stay until the end, even if it's very boring.
 
Ok so how many people here have Bitcoin? Fantastic. And how many people do not yet have Bitcoin? And the difference is the people too shy to raise their hand.
 
Okay great, the 4 or 5 people who raised your hands who said they do not yet have Bitcoin — remember the faces of the people who do have Bitcoin. And do not leave here tonight without getting them to give you some free Bitcoin. And if they won't, I will. The whole point of this is to help you install a wallet, receive a small amount of Bitcoin so you can do some transactions and try it out for yourselves, and it's always fun, the first time you experience a Bitcoin transaction will be memorable.
 
Alright. The topic of today's talk is proof-of-work and the monument of immutability. I want to talk specifically about immutability and what that means in this young era of digital currencies, what it means to have a digital system that is unchanging.
 
Immutability is a tricky concept. First of all because it doesn't really exist. Right? Everything changes. There is no thing in nature that is forever unchangeable — the universe itself, the vacuum, particles, everything changes, nothing is immutable.
 
So mutability is really more of a philosophical idea, but we use it in practical terms. So what do we mean when we say immutable in practical terms? The way I like to think of it is, if you have a scale of something that's very easy to change – all the way to the hardest thing you can possibly find to change – the most unchangeable thing, the thing that is most difficult to change. Immutability is that side of the scale.
 
Right, so for practical purposes we'll define the immutability in any sense to be the maximum of that scale, of how hard it is to change something. And on January 3rd 2009, that scale expanded significantly and a new maximum was defined. A new maximum in terms of what it means to be immutable for a digital system.
 
Nothing is as immutable as Bitcoin. So, Bitcoin defines the end of that scale at the moment. And so it redefines the term immutable. Now that has some interesting implications, including that you can't call the things to the left of that immutable. You can't call them immutable-ish. You can't call them kinda immutable. Right? Immutable-ish is like pregnant-ish.
 
Right?
 
It only makes sense as the maximum value. Not the maximum minus one. So immutable, once it's redefined, the things below it can't be called immutable anymore.
 
And so why is Bitcoin immutable? What gives Bitcoin blockchain the characteristics of immutability? What is it that makes it unchangeable? And the first answer that most people go for is the blockchain. The blockchain makes Bitcoin immutable because every block depends on its predecessor creating an unbreakable chain back to the Genesis block and therefore if you change something it would be noticed, therefore it's unchangeable.
 
00:05:26
 
And that is the wrong answer. Because it's not really the blockchain that gives Bitcoin its immutability, and that's a really important nuance to understand.
 
The block chain makes sure that you can't change something without anyone noticing, and in security we call that tamper evident. Meaning that if you change it, it is evident. You can not tamper it, without evidence of your tampering. Tamper evident.
 
But there's a higher standard security, what we call tamper-proof. And tamper-proof is something that cannot be tampered with. Not just fully visible if it's tampered with, but cannot be tempered with, immutable. And the characteristic that give Bitcoin it's tamperproof capability is not the blockchain. It's proof-of-work.
 
Proof-of-work is what makes Bitcoin fundamentally immutable and that is a really important concept to understand because a lot of people throwing around words like blockchain and claiming that these things are immutable, even though they don't have a proof-of-work consensus algorithm or any kind of consensus algorithm that gives them immutability.
 
At best, they offer tamper evidence. Meaning someone will notice, but they are not unchangeable. This distinction is going to become historically important.
 
Now you may think — historically important, that's a pretty heavy term. Why is it going to become historically important?
 
Because if Bitcoin continues to work the way it's working today, we are introducing a new concept, which is a form of digital history that is forever.
 
And if that history last 10 years, that's impressive. If it lasts a hundred, that's astonishing. If it lasts a thousand years, it becomes an enduring monument of immutability, an edifice of immutability, a system of forever history. Unshakable history.
 
And that is truly a monument of our civilization. And we have to consider the possibility that will happen.
 
I use the word monument and I want to expand a tiny bit on that and talk about proof-of-work. Proof-of-work was not invented by Satoshi Nakamoto. You can see evidence of proof-of-work systems throughout human civilization. There is some big pointy proof-of-work in Cairo, the pyramids.
 
There is some big stone proof-of-work in Paris, the Cathedral of Notre Dame. In fact, proof-of-work is something that our civilization does quite often.
 
Let's think about that for a second, the pyramids serve two purposes — the minor purpose is as a religious artifact, and tomb for the king, but even more interesting purpose is a declaration to every civilization and every human that sees it — behold, this is the measure of the Egyptian civilization.
 
This is what we can build, this is proof of work, you cannot build this on the cheap. You cannot build this in a civilization that doesn't have abundance resources. You cannot build this unless you can feed 20,000 people to not do anything but this.
 
You cannot build this unless you can guard it with soldiers. You cannot build this unless you commit resources for decades or centuries. This cannot be built cheap, and the pyramid stand today as a testimate of proof-of-work for the Egyptian civilization.
 
And anyone, without even understanding what this thing is, riding up in the desert on a camel, going over that hill and seeing a stone monument that's a few hundred feet in the air — looks at that goes — wow!
 
And wow is an expression of believing the proof of work. Right? Because they immediately and intuitively understands something great built that, and there is no cheap way to do it.
 
The Cathedral of Notre Dame is the same thing. Marshalling thousands of stonemasons over hundreds of years to build a monument, to the church, a monument of religion. That made people stand in such awe, that they could only even give it divine origin, they could but believe only a religious order to do something like that.
 
It says behold the church, what we can do. That kind of open expenditure of resources to make a point, is proof-of-work. And we see this again and again in civilization.
 
00:11:05
 
But until now we've only seen it in local environments for a specific country, organization, or civilization.
 
Bitcoin is the first planetary scale, digital monuments of proof-of-work. And to those come later, we will be able to say behold this monument of immutability built over decades. Marvel at its function as well as its elegance.
 
Because it has function unlike the pyramids and the cathedrals, it serves a purpose, a practical purpose. And that practical purpose is to become a record of history, forever. To become the definitive and authoritative source that cannot be modified. The record of truth that can not lie.
 
And once a transaction is embedded into the blockchain, the Bitcoin blockchain, and secured by proof-of-work, it becomes incredibly difficult to change.
 
This is a thing that most people don't understand. So let's break it down a tiny bit, and look at some of the technicals behind it.
 
But Andreas, what if 51-percent of the miners decide to change it? What if there's a consensus attack? What if well-funded government invests heavily in hashing equipment, in order to go back and change the blockchain?
 
So one of the interesting things you have to understand is, the difference between changing the past and changing the future.
 
The consensus algorithm as is it is, determines the future of the blockchain. If you have a majority of the hashing power on the Bitcoin blockchain you can decide what gets recorded in the future.
 
But you can't so easily change the past. And the reason you can't change the past, is because every node out there is going to still validate every block and is going to demand proof of work. That block still has to carry proof of work and there is only one way that proof of work can be generated — you have to commit energy resources to a particular block.
 
When you read all these articles in the media and they say about how wasteful Bitcoin is, because Bitcoin is created by burning energy.
 
They are completely missing the point. Mining doesn't work to create Bitcoin. That is not the purpose of mining. Mining is not used to create Bitcoin. That is the side effect.
 
And the way I can prove to you it's a side effect is that one day there will be no Bitcoin. No new Bitcoin. Guess what?
 
There will still be mining, even after the last satoshi is mined, mining continues, it must continue. Because its purpose is not to create Bitcoin. Its purpose is to provide security. Its purpose is to provide validation of all of the transactions and blocks according to the consensus rules. That is the purpose of mining.
 
And generating Bitcoin is the side effect that serves as the mechanism of reward that creates game theory incentives to make sure that the validation is done right.
 
00:15:00
 
Once you understand that and you realize what we're paying for is security, it changes the perspective slightly. But it's much deeper than that, you see, a lot of different consensus algorithms have been proposed. Proof-of-stake is one of them, and many of these algorithms use the native asset to stake into the mining algorithm, into the consensus algorithm.
 
Meaning, I'm going to commit X amount of my currency in validating the next block, and if I fail to validate it correctly i lose that currency. Right? But if I validated correctly I gained a small feat. And here's the news, proof-of-work is also proof-of-stake, but proof-of-stake is not also proof-of-work. Let me explain that to you for a second because this is a really important point.
 
When miners commit to a specific block, they're creating a candidate block, they're stuffing in all of your transactions into that block after carefully validating them and then they take that block and they commit to it. By hashing against it, by doing the proof-of-work mining algorithm.
 
Essentially what they're doing is they're saying I'm going to stake a thousand dollars worth of electricity, or ten thousands of dollars worth of electricity behind the security work I have done. And if I haven't done it right, I lose my electricity stake.
 
So proof-of-work is proof-of-stake, because what you're staking is the energy investment committed behind the specific block that you're saying I have validated correctly, and to prove that I have validated correctly, I am staking an enormous amount of electricity behind that. Electricity that costs money.
 
But it's different from proof-of-stake algorithms in other currencies, other digital currencies. And the reason is, is what you're staking is not a native asset, is not something that is intrinsic to the chain, who's value and future is determined by the chain. What you're staking is something extrinsic to the system. You're staking energy, you're staking something that has universal value on this planet.
 
The value of the currency tomorrow maybe nothing, in which case the value of the stake you made is nothing. But the value of the electricity today, tomorrow, and into the foreseeable future is something. And that means that when you're staking electricity, you're staking something that has value throughout our planet.
 
Proof-of-work is a lot deeper than we initially realize.
 
Audience Member: I have a question here.
 
Let's take questions at the end.
 
So what if the miners decide to do a 51-percent attack to rewrite the past? Instead of starting from the current block and changing the rules into the future, they can start from a previous block and mine forward. And if they have 51-percent of the hashing power, they will eventually reach the current block, in the minority chain, and exceeded it. They will win the race, eventually.
 
So then the question is – how long do they have to sustain it?
 
Let's take a simple scenario. Let's say we want to go back and change history three weeks ago. Three weeks doesn't seem like a long time in Bitcoin. It's an eternity. Everyday, 500 megawatts of electricity are used continuously to feed the mining process.
 
It's just a ballpark figure, it might be more, it might be less right now. Just use that as a ballpark figure. 500 megawatts in 24 hours is 12 gigawatts of electricity. 1200 gigawatt hours of electricity, expended, per day.
 
12 gigawatt hours of electricity over 30 days, is 360 gigawatt hours of electricity. Over 12 months that’s 3.6 terawatt hours of electricity, in a year. 3.6 terawatt hours of electricity is a lot of electricity. But it's only a lot of electricity if you take it all at once. If you take it on a daily basis, on the 500 megawatt basis, running forward, it's enough to keep the Bitcoin network secure.
 
But here's the thing — if you try to go change Bitcoin, it starts adding up pretty fast. You go back three weeks, with 51-percent of the hashing power, how long will it take to re-mine the blocks of the last three weeks? Anyone?
 
Audience Member: Six weeks.
 
Six weeks. Yeah? Not quite.
 
Some interesting things happen inbetween, the first week of blocks will take you two weeks to mine, and then at two weeks you're going to have a difficulty change which is going to drop your difficulty, and then it's going to take another two weeks to mine the next two weeks of blocks. So you're going to end up approximately at four weeks total, to mine three weeks worth of blocks.
 
Here's the problem. The other side didn't stop mining. Right? At forty-nine percent, how long does it take them to mine? So by the time you get to where you were when you stopped mining the majority chain, and you try to rewrite history... they've also mined at least two weeks ahead. If they got the difficulty change too, they've mined even further.
 
So now you have to mine a bit more, to overtake them. Meanwhile, the miners who are doing this exercise are earning nothing. Presumably, they're part of the same hashing power that mined the first time around. Presumably they already had 51 percent of the power when they were mining the first time around, and now that they're trying to re-mine the last three weeks of blocks... well they've already banked the rewards. But they've banked them on the other chain.
 
00:22:05
 
Which they're making invalid. So now they're going to get rewards on the new chain, but only if they give up the rewards they banked on the other chain. Which means effectively they're going to spend three to four weeks, at 500 megawatts mining for free.
 
Meanwhile what happens in the other chain? On the minority chain? Your 49-percent minor, and you're now mining a minority chain. It's going to be hard. First two weeks is going to be slow, you're going to be doing blocks every 20 minutes. But, your share of the mining capacity just doubled, which means your profitability just doubled. So you're getting more reward, for the same amount of mining. And if that chain still has value, you're making quite a bit of money.
 
Because you now have a bigger market share. In fact, the more people abandon the chain, the more profitable it is for the minority. And all you have to do is peel off two percent. All you have to do is persuade two percent, of the people who are mining for nothing, to come mine on the chain where we're mining for double rewards.
 
How hard is that going to be? Which means that actually sustaining a 51-percent attack, for four weeks, is brutally hard. Now of course that means you probably only do it if you had 75%, 80%. Ethereum's starting with 90, at some point they went as low as 70% on the majority chain, when they did their fork. That's a pretty big drop.
 
So you have these economic incentives that make it very difficult. Now please notice, I've been talking about three weeks. Bitcoin is seven years old. What if you wanted to change a transaction that was last year, or a year and a half ago? Well, now the math is really against you — because it's going to take you almost a year to overtake that chain. During which time you have to sustain that attack and not lose anyone from your group. Otherwise, you never overtake it, and then you make even less money.
 
So now you've mined it twice, and got a zero reward on both times. Right? And this is the point that we really need to understand about blockchains — there is something inherently interesting, about the fact that you can show someone a number, and they can calculate from that number, how many joules of electricity you consumed to create that number. And it is absolutely unforgeable. That number is in itself proof that you have done the work.
 
That is an incredible artifact for a digital system. The fact that by presenting a number, to a system that has never seen the history of the blockchain, that may have joined later, that maybe seeing a false history of the blockchain, but you show it a block that has proof in it, and you show that node that number and they know it's real.
 
And they know it took that much work to produce that number. There is no way to fake it. For additional system, that's as close to real as it gets. This is a monument of immutability, built block-by-block, and these blocks about towering into the sky. 420,000 of them containing a cumulative amount of work that is absolutely gobsmacking.
 
And it cannot be changed or forged without... not only the other person knowing it has been changed, but without you actually expending the energy all over again. There is no shortcut. And that is the difference between tamper evident and tamper proof.
You could disconnect from the blockchain today, not look at it for three years, come back three years later... I can present you a single number and say do you believe this is the actual block from the block chain?
And you would be able to say with complete confidence — yes. The amount of work evidenced by this block, could not have been produced any other way than, if during the entire time I was gone, you were expending energy at the predicted rate, and you came up with this artifact. I only need to see the pinnacle to know that it's a real blockchain.
 
Only the last block, one number, and I know how much work has gone into it cumulatively. Because it tends to have ever increasing work. The longest difficulty chain wins. Bitcoin is not just simply in a system of accounting; it is the first digital artifact that provides forever history. That provides true digital immutability. There is no other system that provides digital immutability of that level.
 
It is a planetary scale, thermodynamically guaranteed, self-evident system of immutability.
 
Planetary scale, because in order to do it, you need to marshal resources that all the exist in a planetary scale effort.
 
Thermodynamically guaranteed, because you can calculate the exact amount of energy it took to create it, and there is no shortcut. Information theory tells us that to flip that many bits takes this many joules, and there is no way to do it otherwise.
 
Self-evident because the number that is produced as proof-of-work tells you exactly how much work has been done cumulatively. And it really is a monument. Now, then the interesting question arises – can we really afford this?
 
Is this a waste of energy? There is no thing on the planet that produces a digital record that is self-evidently immutable at this scale. Nothing. It is the only platform on which you can embed data, that will be guaranteed a immutable within a few blocks. Thousand blocks after you put data in, there is no going back. That data is not going to change.
 
Ok maybe if you put it in, and it's only three blocks old, maybe you can change. Six blocks old... eeeeeh. 144... I dunno. This is getting tough. And that's a day. A week old... done. Done. It's part of permanent history.
 
Our ancestors said "this is as good as written in stone". Our grandchildren will say "It is as good as written on the blockchain". Because it is the new standard of immutability and it is globally accessible.
 
00:30:10
 
Any application can leverage that capability. Other currencies, other chains, smart contracts. They can all check point against the Bitcoin blockchain. And as long as we continue to build the monument, their little inscription, like a piece of graffiti etched into the base stones of the pyramids – will be there. Potentially for centuries, and they can import immutability for the low low price of a transaction fee.
 
That if you consider it, immutability as a service is an astonishing application. It has enormous implications for software, it has enormous implications for the internet things, for information security, for other systems of currency, for systems of record... title, registration, birth records.
 
History can be written on the blockchain for the little price of a transaction fee, and it may well be there for a very long time. But as long as it is there, it cannot be changed and everyone can validate it. That is not a waste of electricity. That is the first practical application of digital immutability and it is expensive, but it's expensive because it's giving us something on a planetary scale. And we only need one, really, and it's probably too expensive to build two.
 
And that just means that the network effect is even more awesome. Because we already have one and it's doing quite well. That one can support all of the other applications. The other applications can do much more lightweight proof-of-stake. But if they really want immutability, not tamper evident... tamper proof. They need to subscribe to a service on the Bitcoin blockchain.
 
They need to record their data on the Bitcoin blockchain. If you're a banking consortium, and you are signing transactions in a distributed ledger technology by taking turns, what is the cost of fabricating the past? What is the cost of rewriting history? Of saying WikiLeaks never received any of your funds? Any of your donations? We reversed all of those transactions. What is the cost of that? Thermodynamically? Nothing.
 
In on-chain money? Doesn't matter. We created the on-chain money, we can create more of it. As long as there is no proof-of-work behind it, the cost of re-writing a ledger like that is zero.
 
And if you can, you will. And if you can, you'll be coerced to. And if you can, when you get a subpoena, you must. And so these blockchains are not immutable. These block chains are mutable as hell. They're fickle blockchains.
 
To go to the other side of the scale... they're transient, they're meaningless. They have no weight of history behind them. They are whatever the last signer says they are. They have no weight. This year, we're at war with Oceania. Next year, we will always have been at war with East Asia. History is written by the victors. Not the Bitcoin blockchain.
 
We don't do 1984 on the Bitcoin blockchain. History is written by the expenditure of real-world energy and there is no cheap way to forge that history.
 
Thank you.
 
Due to the character limitations on Reddit. I was unable to post the entire transcript which includes the Question and Answer portion. View the entire transcript here.
submitted by eQUIV to CryptoTranscripts [link] [comments]

[Table] IAmA: Hi, I'm Kristen Christian & I started Bank Transfer Day. AMA!

Verified? (This bot cannot verify AMAs just yet)
Date: 2013-07-26
Link to submission (Has self-text)
Questions Answers
What were some of the greatest challenges you faced when setting up Bank Transfer Day? Did any of the banks retaliate against you personally? The time commitment that was required that first month was a huge challenge. I ended up putting my life completely on hold to give the campaign the effort it deserved. There have been a handful of banking executives who have tried to discredit me, but they haven't gotten very far. There was one side effect I didn't expect— the FBI has apparently added my name to the Selectee List. I can still travel, but I'm scanned, patted, swabbed, searched & interrogated every time I fly.
That is sickening to hear. Meh. I try to keep a sense of humor about it. All you can do.
Well you annoyed the big players in the world, its a shame they have to use such tactics rather than making there companies better. Sadly, I think a sense of entitlement may be preventing these corporations from taking a hard look at how they could be more appealing to the average person.
Think of it as a pre-flight massage. Haha. Next time they pat me down I'm going to mention that I have a kink in my neck that I'd love for them to work on.
They are not entitled to anything, people can vote with their money! But you are right though. The sooner bankers realize that no one is entitled to anything he or she doesn't earn, the sooner they may be able to salvage their organizations' public image. Companies must be mindful of how their actions impact communities if they hope to receive patronage from this new civic-minded generation of consumers.
People are getting more savvy with there money. And people wont stand for any crap these days! I am from the UK and have just found one in my city that i am interested in. Thanks for doing this IAma! I didnt even knew they existed. Glad to hear from an international supporter! If you're in the UK, you may be interested in Cooperative Trust. I've been following their work since Bank Transfer Day, and it's really impressive! James Marshall, the leader of this fantastic group is based in London.
Thank you for answering this (again) I wanted it in the main Thread so everyone can see the answer. I am reviewing my options now. I am very excited to move to a Credit union and take my money away from these greedy banks. You're very welcome! Let me know if you need anything else.
Do you own or have the rights to "Bank Transfer Day?" Who owns or has rights to "Move Your Money?" CUNA owns "Everyday is Bank Transfer Day," but those other pieces? Relatedly, who maintains the Bank Transfer Day social media outlets (e.g. twitter, facebook)? Although I originated the name "Bank Transfer Day" and "Every day is Bank Transfer Day," a credit union league filed for copyright of the latter phrase without my knowledge or permission. I asked that it be turned over to CUNA so that it might be used for a national level campaign, but that never happened. I've never filed for copyright because I wanted this movement to belong to every person who supported it. Attorneys have advised that should anyone else attempt to copyright, there's adequate proof of origination. There are a couple of volunteers help curate content. They've asked to remain nameless due to the threats I've received for my involvement. I remain personally active in the social media channels as well.
Glad to hear your decision to not go the IP route. Do you have plans to formalize any sort of organizational structure? Not in the financial sector. I see access to data as a service Americans desperately need but co-operatives currently can't provide so I'm putting together a steering committee to start a national-level telecommunications co-operative. Anyone who's interested in joining the steering committee can send me a private message via Facebook.
I'm involved in an attempt to mutualize our fiber-based municipal telecom in my hometown. Are you talking about that sort of telecom, or is the aim more at the wireless market? Sort of similar. There are a handful of region-based telecommunications co-ops, but I'd like to see one on the national level to compete with the "big guys." I really like the Phone Co-op's model, and they've been kind enough to offer guidance.
What do you think about the Big Bank's lobbying Congress to remove the non-profit tax exemption from credit unions? If passed, this will crush the credit union's ability to compete against the banks. Check out Link to www.donttaxmycreditunion.org. I've been very supportive of the "#DontTaxMyCU" campaign. I think bankers must have a big brass pair to try for something like this. At the end of the day, our votes put candidates in office; no amount of campaign contributions can do that. They might have money, but 1/3 of all Americans are members of a co-operative... and that number's growing every single day.
What's it like having your first name and last name being remarkably similar? It's actually pretty awesome! People don't seem to easily forget it, telemarketers struggle to pronounce it, and people randomly sing Night Ranger at me.
Is that your married name? Or did your parents choose that combination for you? Please read back through the comments to any of the 100 times I answered this before. Thanks! :)
Why was this removed? has it been moved? I'm not sure why reddit has removed the text for other users. It's still viewable on my screen. Trying to contact moderators now.
Well when you get it figured out please let me know. Looks like they've sorted it. Phew!
Real quick, I currently have Chase, I hate them and get charged on an average of $40 in fees just to bank . How do I find a credit union to move my money to ? I am Queens , NYC I've found that the best resource for finding a credit union in America is A Smarter Choice. If you'd like, you can also comment on the Facebook wall & I'd be glad to ask for personal recommendations from other supporters.
You are super awesome , Thank you. I am looking into the A Smarter Choice now. if needed I have your Facebook added already and will post there (Facebook is how I found out about the AMA ) Glad to hear it! Please don't hesitate to ask if you need any help finding the perfect credit union for you.
Have a "big bank" contacted you and try to change your mind on your cause? I think most bankers were smart enough to know I wasn't going to change my mind or back down. The CEO of a "big bank" did call to apologize for the online behavior of one of his executives. This was after I'd emailed screenshots of the posts and proof of the person's employment to the CEO & members of major media.
Do you have a financial background? If you had a $100,000 in cash and your house was paid for, how would you invest that money? I don't have a background in finance. It seems to me that the three most important services for the next several decades will be food, finance & data access. We're blessed to have great credit unions & food co-operatives, but lack a national-level mobile phone co-operative. I would use the $100,000 to fund such an endeavor.
I don't think you have much of a concept of how little a dent 100k would make on a project like that... I don't think you realize how far I'm capable of stretching a dollar. The entire Bank Transfer Day campaign was run on $10. :)
YAY for credit unions! I used to be the marketing manager for a big single-seg credit union. Loved our members, and loved the credit union philosophy even more. Question for you... how do you feel about the idea that credit unions are starting to act more like 'banks' and the ABA's lobby to start taxing credit unions? In which ways do you feel credit unions are beginning to act more like banks? The efforts to eliminate the tax exemption status are ridiculous, at best. I see it as a last minute (and incredibly desperate) attempt to strong arm consumers into banking with them. If Senate allows this, there will be a lot of lawmakers out of work next election.
How did the experience of orchestrating BTD change you personally? I hardly recognize the person I was two years ago! I've found myself becoming more & more aware of how the simple choices I make can have a significant impact. Being in the public eye has made me appreciate every ounce of privacy I still have. Overall, I feel as if I've found my calling... to promote co-operation both as a business model & a way of life.
Hi Kristen. As you know my company did a lot of quantitative & qualitative research on the impact of Bank Transfer Day. One conclusion reached by both research methods was that many people (even the unhappier ones) ultimately stay with a large bank because the mobile or other technology is simply more advanced there. In your work with credit unions or community banks, what do you advise them about meeting the needs of people-and especially younger people-who want the convenience of advanced digital 'banking' methods? Technology is going to play a huge role in acquiring & keeping members. I recommend that credit unions take advantage of the services many of their great vendor companies offer to provide resources like shared branching, mobile banking, remote check deposit to members. With a completely branchless model, I think PSECU is a great example of the banking model of the future.
The lack of technology, remote deposit and poor shared branching (especially internationally) is what keeps me away from CUs. That's a common misconception. Many credit unions have embraced mobile banking & remote deposit as part of the frills offered. I travel internationally fairly frequently & have yet to have an issue anywhere I've gone.
It's not a "misconception", its my personal experience. Show me a CU that offers the equivalent to BofAs mobile banking app (check deposit, bill pay, xfers, etc) and doesn't require me to be a former military member or something. Off the top of my head, PSECU offers everything you mentioned.
Yep, PSECU does all of that as well as provides your credit score for free each month. Just when I think I can't love PSECU any more...
Which the average person isn't eligible for. I have no relations to higher Ed in PA. This is one of the problems of CUs in my opinion - the requirement to be part of some subset. Banking lobbyists have successfully prevented credit unions from offering small business loans or expanding membership fields beyond the last inclusion of the relative/live/work/worship clause.
Either way - regardless of how it happens. This is one of the reasons CUs don't work for many people. Instead of complaining about the symptom, why not help fix the problem?
Nothing is ever 100% positive. In your opinion, what advantages do the big banks have over the average CU? The only advantage banks seem to have currently is their ability to sway lawmakers through campaign contributions. As for my personal experiences— Banking with BofA was a nightmare, at best. It's been nothing but smooth sailing at my credit union. I have access to more conveniently located ATMs than I had with BofA, lower interest rates on my lines of credit and the profits from my banking business is used to invest in my community. All around win.
So CUs are always better for all people? Come on. I know you are an advocate, but even you can't be so naive as to think that. I believe nearly every American would benefit both for themselves & their communities by joining a credit union.
OK - nearly isn't every. What kind of American wouldn't? I've yet to come across an American who wouldn't benefit from co-operative membership, but if I do meet one I'll let you know.
What is this? A credit union for ants?... Hey, even insects deserve equal access to affordable financial services! Haha.
Do you think that the "Big" banks are starting to get the message, that the power lies with the people, or are they still on a path that is not good for most Americans long term? TRANSLATION: Do they really not give a crap about the average Joe and Jane 6-pack working hard for a living and still scraping by? Link to www.facebook.com. I think "big banks" have heard the message, but I don't think they're ready to admit that their business practices led to the largest consumer shift in American history. Instead of improving the business model, bankers are pressuring Senate to eliminate the tax exemption status of credit unions.
You are more powerful than sarah kerrigan? Quite possibly. If only there was a way to know for sure...
Funny you mention that, the CU's have been running a student loan consolidation through the cuGrad program. You know SoFi is Morgan Stanley right? I met Ian Brady from SoFi at the G8 Summit Innovation Conference. He assured me that the lending was coordinated through donations by alumni, but I will definitely dig further into this.
Very innovative group there, I will send you some info. Also, check your FB for some info I just sent on our Google Hangout series, very exciting interviews planned. Awesome! Will do.
Do I still celebrate Bank Transfer Day if I dont pay any fees to bank? What day is Bank Transfer Day anyway? It wasn't so much the fees themselves that set me into motion, but the principle behind them. To me, the policy was symptomatic of an overall problem within for-profit banking structures. Bank Transfer Day began as a Facebook event & quickly became the largest consumer migration in American history. You can learn more about it on Wikipedia or Facebook.
You don't honestly believe you've changed anything, right? I don't believe that I singlehandedly changed anything. I believe that working together millions of Americans changed a few things. First, their transfers allowed credit unions to continue offering responsible loans with low interest rates to small business owners. Second, these loans combined with how many employees were hired by credit unions, Americans saw the unemployment rate drop. Finally, we illustrated that if a girl with a laptop and $10 can reach millions of Americans then campaign funding is no longer as vital to a candidate as it might have been in previous elections.
I live in the Las Colinas neighborhood of Irving, TX near Dallas. Do you know of any credit unions in my area that would be the best to check out? I am middle class and will use direct deposit several times monthly. I do not own a home or any large assets and usually use online banking. I'm with Chase currently and want to get away from them. My credit is not the best either. I am not really sure where to start or where to find out which credit unions in my area are the best. Any suggestions? I found several credit unions near you on A Smarter Choice, but I'm not personally familiar with any of them. If you'd like, I'd be glad to ask Bank Transfer Day's supporters for a personal recommendation; they're great about that. Just send me a private message via Facebook.
When you first created the Facebook event, the location of the event was listed as "Occupy Wall Street." How important do you think the Occupy movement (which was peaking in OctobeNovember 2011) was to the success of Bank Transfer Day? It's a common misconception that the Facebook event page had listed the location as "Occupy Wall Street." The best answer I can think of is that there were several factions of OWS that created secondary event pages that people may have seen. While I appreciated the support that was received from various groups across the political spectrum, I wish that leaders of groups like OWS hadn't chosen to cause disruption & break laws in the name of Bank Transfer Day.
Now who will step up and create a bank or credit union that has LEED platinum buildings powered by renewable energy that also invests in renewable energy? There will be bike parking and the thermostat will be set to save power (my CU has it at a frigid 73 F and when I asked what they invest in they told me T bills.) ??? are you the one? Speak to your credit union about their energy usage. Start with the branch manager. If he/she doesn't listen, go up the chain of command until someone does. On the off chance no one listens, take it to the next board meeting. You're part owner of your credit union. Speak up.
How mad are you that you parents named you Kristen Christian? Not at all. Besides being memorable, it's a great way to screen telemarketers... they can never pronounce it.
Oh, and it's more than a little satisfying to overhear a FOX reporter practice your name over & over. MUAHAHAHAHA.
Haha, it is very unique! I like it :-) Me too. :)
I have a friend who is thinking about switching from a Credit Union over to Chase because "they're more convenient" with regard to locations and teller hours. What can I do to sway her back to responsible banking? It sounds to me like maybe she didn't choose a credit union that suits her needs. There's a credit union out there for every single person. I bet she'd be happy as a lark if she joins one with shared branching, online/mobile banking & remote check deposit. If she'd like help finding such a credit union, I'm always glad to point consumers in the right direction. Either of you is welcome to send me a private message on Facebook for personalized help.
How do you feel about regional banks -- specifically (if you know of it) Umpqua bank in the Pacific NW? While some smaller banks do invest in their communities in amazing ways, I'm still wary of for-profit banks for a couple of reasons. First, I want to have a say in how my financial institution is run. Unless I'm a shareholder at a bank, I have no say. Secondly, a corporate bank can buy out a community bank without customers even being informed. I believe wholeheartedly that co-operatives are the best option for consumers.
Why was the original bank transfer day on a saturday? November 5th 2011 was just a deadline goal. I chose the date as a goal because it was about a month away when I created the event & Eddie Colla had just sent his icon image of an American flag superimposed over a Guy Fawkes mask. The stars seemed to be aligning, so I went with it.
Some argue that there is no escaping shadow banking. How much impact does moving retail account money into credit unions make on the shadow banking industry? I can't give you a definitive answer, but I will say that I started the campaign with no expectations & a belief that every dollar can make a difference on the local level so I've already far surpassed my own desires for the results of BTD. Every little bit helps.
I used your organization in the advocacy section of my thesis, "Financial Speak: Unmasking the Criminal Discourse of Wall Street." Your work is a big part of the consciousness raising effort needed in finance. Thank you. That's really awesome! How was it received?
Will do. I'm looking forward to continuing our conversation. Same here!
Did you change your name for the publicity value, or are your parents totally unaware? If I was going to pick a "stage name," do you honestly think I'd choose this?
What are your thoughts on Public Banks? There is a few state level legislatures in my state that are keeping the idea a alive in the WA State congress. I think they sound great for state, county, and municipal banking needs. I think they could be of benefit to particular communities and definitely better than a "big bank," but I still believe wholeheartedly that co-operatives are the overall best option.
Did you marry into the name Christian, or did your parents not think through the mouthful that is 'Kristen Christian'? It's my given name. Funny thing is, I never realized how strange my name was until I moved to LA a few years ago & everyone asked if it was fake.
Why use a bank? They are all scum in the end. Use cash or bitcoin as much as possible. A credit union isn't a bank, but rather a not-for-profit member-owned financial co-operative... so each is only as "scummy" as its members.
They still have employees to pay, CEO's still take huge salaries. They are just slightly different than a normal bank. I'm confused. Are you advocating that people not be compensated for their time & labor? The difference between the salaries of CEOs at banks & credit unions is staggering! Check out this CUTimes article.
Wow. You sound like you are trying to do a commercial. That's a great idea! We should do a commercial to reach even more people.
Facepalm. At least you are positive. Have a good day. You too!
Do you have any examples you can point me toward? Off the top of my head, PSECU.
Why did your parents pick a first name so similar to your last? When I was adopted at a young age, my birth name had been "Cristin." My folks decided that the best option would be to change the spelling of my first name to minimize confusion & allow me to keep a part of where I'd come from. Nearly 30 years later, I think they made the right choice. I've come to really love my strange little name.
I am very pleased with your response as most people would ignore such a question but I don't know anything about banking and I was curious. Enjoy your weekend! If someone takes the time to ask a question, surely I can take time to respond. Have a great weekend too!
You are a wonderful person Kristen! When is the next bank transfer day? Thank you! I like to think that everyone is wonderful in their own way. I feel so very blessed to have this experience, but due to the violence perpetuated by groups that supported the first deadline goal, I won't be coordinating another event like the first Bank Transfer Day. I do plan to continue commemorating the original date both publicly & personally. Last year I spent November 5th speaking for Credit Union Legislative Action Committee before returning to the privacy of my hotel room to read letters & posts from supporters. It really is so touching how so many of you take the time to reach out & encourage me along the way. Something like this is too much for one person to take on alone. I really couldn't have done it without each & every single person who lent their time & talent.
I have huge commitments with a bank which include a mortgage for over a hundred thousand dollars. Can a credit union take on that kind of debt or is it just where you deposit money to get around banking service charges? Credit unions offer all of the same services that traditional banks offer. The main differences the average consumer would notice is reduced interest on loans, higher interest on checking/savings, profits from your banking business are put to work in your community and as a member-owner you have a vote in how the institution does business. On the back end that a consumer may not notice, CEOs are typically paid far less and front line staff are paid more than for-profit counterparts. If you have huge account balances or business loans, it could be tricky, but I can put you in touch with your state's league & ask them to help you find a credit union to suit your needs. Just let me know.
Just pick a credit union with branches all over the country. Both Veridian and Collins Community have branches all over Iowa, I assume they're nationwide as well. John Deere is pretty much only in Waterloo / Cedar Falls, I assume that's who you went with? My credit union has a limited number of branches. I like that their focus is specifically on the community that made me the woman I am today. Yet... I can bank anywhere in the country & even have no issues traveling outside of the US because my credit union participates in shared branching.
Cool story broah. Shared branching is pretty cool, huh?
Why do you have two first names? Why don't you?
I'm not special =[ Maybe you just haven't found that special place where your talents & passions meet. Don't stop looking!
[NEFCU 2.5% interest on checking account. ](Link to www.mynefcu.org Credit Unions are the best. They really, really are. How long have you been a member?
Switching to a local credit union is among one of the best decisions I've made in my adult life. I'm so glad to hear that! How has membership changed your life?
I don't believe they do. As a member-owner, you can ask them to! It's made banking so much easier for me.
"... people can vote with their money!" How dare you! You are now subscribed to lifelong mandatory TSA searches. In fairness, it was a bit more complex. The hacker group Anonymous claimed credit for Bank Transfer Day... effectively saying I was a member of Anonymous, which I'm not. I understood being initially investigated & even being put on the list. It bothers me that they haven't figured out yet that I'm not a risk.
Big bank employee checking in. Keep doing what you do. I really do work for the devil. Thanks for stopping by & having a sense of humor. If you ever feel like leaving the dark side... CU Insight posts about credit union jobs.
Just wanted to stop by and say hi Kristen. Bank Transfer Day is an awesome concept, There is something in it for all, regardless of political affiliation. And that the person behind it all, is one special human being who cares! Other than that.. you inspired me to join Reddit today! Hi! Thank you! You're too kind. I think a lot of people care, but just aren't sure what they can actually do to impact positive chance. I'm glad you joined reddit too! It's a great community full of thoughtful people sharing fantastic ideas.
I haven't banked with an evil big bank since I was in high school . . . and I'm not young anymore. ;-) That's great! Have any of your family or friends made the switch because of your recommendation?
No question here, just support and solidarity. I participated in the first Bank Transfer day as a part of my local Occupy encampment, and switching to a local credit union has been a decision I've only been happier for doing! Thank you for your organizing efforts! Thank you! It's been amazing to see how this simple & direct action was appreciated by so many people. There are a lot of things Americans disagree on, but I think the vast majority of us believe that our communities need & deserve our support.
I feel the same way. I feel like a total geek sometimes because if anyone ever asks anything about banks, I effuse wildly about my c.u.. That evangelism is so common amongst co-operative members, but relatively unheard of in any other sector! Kind of makes you feel all warm & fuzzy.
You do realize that the big banks are probably thrilled that they are losing a lot of accounts with small balances. If the "big banks" were thrilled, I doubt they wouldn't have rescinded the new policy two days before the original deadline goal, nor would they now be lashing out by pressuring lawmakers to eliminate the tax exemption stays of credit unions.
Is your middle name Cristian. No. No, it's not.
Quick! Say your name 5 times fast! Okay, but only if you join a credit union. Bribery.
I'm 21 and have no clue what a credit union is! =D. Check out this awesome video explaining the differences between banks & credit unions: CLICK HERE
So glad you could do this, Kristen. There's a lot of misinformation out there, but we're gaining ground! A big 'Thank You' from your friends at Alliance Credit Union in St. Louis... Thank you! I hope everyone at Alliance is having a fantastic day!
2 years ago I saw your Bank transfer day Facebook page and it encouraged me to abandon my crumby BofA account and join a credit union. Huge thanks! No, thank you! Without the support of so many folks, the Facebook event could never have turned into a full-blown movement. I'm so glad to hear you're still happy with your choice!
Last updated: 2013-07-30 14:10 UTC
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