theintelhub.com February 3 2013
One result has repeated itself without fail throughout history. Every fiat currency ever created has dropped to zero and ended in horrible failure for the majority of its users, while benefiting those that destroy it. The reins of this economic self destruct mechanism are carefully tended by the worlds power structure while they position their own assets in such a way to profit from the fire sale as the rest of the world struggles to survive.
This pattern has repeated itself ever since the first cuneiform tablet was forged, just after the abstract concept of money was created. Since that time society relied completely on evolving technology to verify and preserve the institution of money as it was originally intended, and others continually worked to break that system for personal gain. Because this has been an expensive and complicated task in the past, people have always relied on a centralized institution to control the common wealth. This has always left people vulnerable to this central point of control being hijacked and used against the common wealth, until now.
The creation of Bitcoin is a historical landmark in the evolution of money. For the first time in human history there is a system of trade that is not under the control of a centralized system, and is in fact designed to prevent such controls. It also includes a few never before seen features enabling people to use publicly known open source mathematical calculations to ensure that the Bitcoin can only be spent once. A finite number of Bitcoins will be created, and the probability of generating them decreases as new users join the system. These are the key tenets of the Bitcoin system.
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PayPal created quite a stir this weekend when reports emerged that it could soon be charging users as high as $2,500 for taking part in the spreading of “misinformation.” Reaction online was swift and savage as many users announced on social media that they were closing their accounts.