So I wrote CIA PROJECT BITCOIN early this summer warning that the whole bitcoin thing was an intelligence project and most likely backdoored since the ECC crypto it uses has ties to the NSA since Neal Koblitz is thought by many to be a NSA/CIA spook.
I also pointed out that Satoshi Nakamoto (creator of Bitcoin) is a code word since it means CENTRAL INTELLIGENCE in Japanese.
While I’m probably the only mathematician that understands the whole crypto end of bitcoin along with the real world economic fundamentals I revealed I revealed in my book, as to how the quasi wanna be currency unit known as Bitcoin has some very sound economic fundamentals you can chart and I even released an algorithm that explains the exponential growth of its user base could make it hit $5,000 bucks when the user base increases ten fold from where it was at the end of 2013.
However, as I warned in my book, the whole bitcoin project revolves around a fuzzy economic fundamental called consumer trust.
What the average bitcoin geek doesn’t understand is that the huge drop since my book was released when btc was around 660 bucks and it was as low as 290 bucks recently was due primarily to the downward pressure put upon the exchange value of btc due to how mainstream the currency is getting with all the major global retailers starting to embrace btc as an option for the public to consume their products and services with.
These late to the game players in btc (global corporations) do not hold btc like the hardcore believers in the currency do, big companies accept it and then dump the currency the same day and thus far there are not investors to gladly take the coin which was created through so-called bitcoin mining and has penetrated into the world of consumers through either exchanges or online trades in bitcoin.
While bitcoin was started as a geek intelligence project to track possible terrorists and also large narco currency movements, the swell in its user base was tied to vice activity such as drugs (Silk Road) and even petty bitcoin casino players (Satoshi Dice).
The huge billion buck value FREE PR in the major media that bitcoin got with the arrest of the Silk Road founder/operator, the crash of a major bitcoin exchange and the fast acceptance of btc by global companies fascinated with a crypto digital public ledger concept all merged for a perfect storm to bring btc to the 1,000 buck range at the end of 2013.
Wild-west mentality ‘investors’ also fueled the news about Bitcoin as did knee jerk suggested governmental regulations that threatened to regulate a global currency that was created to have no regulation nor centralized control. The fact is you cannot regulate something that was built upon non-regulation and no centralized control.
The fact is also, that if you are not involved in mining or involved in a tech related business the idea of converting real world fiat into such a volatile unproven currency is to say ‘highly speculative’ at the least.
If you are involved in creating ‘money’ from the ether of cyber space, bitcoin is a viable way to create sales using a future potential high worth currency if it continues to grow its user base and continues to have global corporate outlets to spend bitcoin on.
An example of how btc integrates with the backbone of the net is that large hosting companies have the resources to do so-called ‘bitcoin mining’ on their network and these companies can easily take btc for hosting services as many now do.
Even with ‘regulation’ imposed on localities where major hosting networks are located, the act of mining for bitcoin and taking it in exchange for goods and services will not make the currency ‘illegal’ as some are incorrectly suggesting, the imposed regulations actually legitimize bitcoin as a defacto currency.
Even the sale of btc by the DOJ in the Silk Road case only added a legitimate value to the whole concept of bitcoin when a government agency held an auction for millions of dollars of the currency they seized.
The whole concept of a secure underground net currency is what fueled the rise of bitcoin a couple of years ago as vice consumers interested in the goods sold on Silk Road (drugs) sought to acquire the crypto currency in order to perform the type of vice transactions that ‘cash’ usually is used for.
Had the operator of Silk Road not been arrested while his bitcoin wallet was open the coins could not have even been seized by the DOJ.
While the actual crypto used inside the bitcoin software is secure against all hackers but a possible backdoor that the NSA may have for it, the average ‘hacker’ will never break the crypto used in bitcoin without having knowledge of the special relationships in the crypto seed keys issued by Koblitz Curve ECC that the NSA should indeed have. That statement is based upon my very educated opinion on cryptography and also global intelligence agencies since I have vast experience in both areas.
Very few people can securely use bitcoin since most people are clueless about technology and many ‘smart’ and even ‘tech’ savvy consumers have infected computers where any bitcoin wallet is probably wide open to two bit malware hacks.
So the average consumer will always have a ‘problem’ trying to use bitcoin or any ‘crypto based currency’ since it is the dumb average computer users that open their computer up to malware that make the use of bitcoin something that only super tech savvy people should try to do if vast amounts of bitcoin are involved.
In fact the #1 rule for bitcoin in my opinion is locking down so-called bitcoin wallets on a virgin laptop that is used for only one thing, the transfer of larger bitcoin movements from so-called cold storage to less secure wallets used on general use technology.
If you do illegal activity, and are big enough to warrant major focus by the NSA or CIA, bitcoin in my opinion bitcoin is not for you.
That fact is bitcoin uses ECC crypto and that whole branch of crypto was the fundamental reason as exposed in the Snowden Wikileak documents that the NSA can backdoor pretty much any encrypted messages. There is no secure ECC crypto in my opinion and the ties of Neal Koblitz (creator of the crypto used in Bitcoin) to either the NSA or CIA or both are well founded IN MY OPINION.
So what is the future of bitcoin?
In my opinion it is a great currency for petty vice activities and it has always been so. It is this petty vice potential of bitcoin that has fueled its growth in the past and will fuel it into the future.
However, if you become the king of a vice industry such as the operator of Silk Road was, then you will become a Fed guest in their Fed vacation p
rtals around the country as the Silk Road operator now is.
However, vice is vice, people do drugs, the CIA has been connected to large scale drug operations and it makes sense they created their own vice currency IN MY OPINION.
So if you are a lost soul with a drug habit, pick your currency, cash or bitcoin, both are ideal for you, if you do illegal drugs.
Regulated vice industries are also perfect for bitcoin, such as casinos. While online casinos were tracked down once again by the Feds due to the way ‘money’ is handled and all online casinos eventually have to either take currency from a bank regulated industry such as a wire or credit card, so the anonymous use of bitcoin for online casinos is probably what will fuel major adoption around the world by real world consumers who simply like to GAMBLE.
Gambling is not illegal, it’s highly regulated, but it is now almost universal in acceptance. Many states even run lotteries, that’s how accepted gambling is.
So the rise of well-funded and properly licensed bitcoin casinos is about to happen and it will be centered around the Cayman Islands, as will many other bitcoin vice industries soon as well as the future of bitcoin exchanges and even bitcoin banks.
There is no treaty between the US Gov and the Caymans and it has been a haven for decades for drug cartel money and even Mitt Romney had his wealth stashed there for years.
I myself founded my religious non-profit organization in the Caymans decades ago, so I know what I’m talking about as to why high wealth companies, drug dealers and individuals are all sitting with large Cayman Island wealth. Forty years ago some major wealth was stashed in Swiss Accounts but that country now has treaties with the US Government as to banking info etc. So some of that Swiss Bank wealth was moved to the Cayman Islands, that’s a historical fact.
Drug cartel money has been stashed in the Caymans for years, as have wealth of people like Mitt Romney.
It wouldn’t surprise me to find out that NSA bitcoin hordes from NSA super computer mining projects is being funneled into bitcoin cartel accounts.
So bitcoin will be used by the 100 new Silk Roads that have popped up since the demise of Silk Road occurred a year ago.
Hundreds of million bitcoin wallets may soon be used to fuel the worlds vice craving for online gambling. That online gambling will be centered out of the Cayman Islands in my opinion.
At the moment the most popular bitcoin poker room is SEALS WITH CLUBS (SWC) that openly allows USA IP Addresses to move bitcoin anonymously in and out of their casino.
Most players at SWC are fraction bitcoin players, and micro fractions are the norm if you have watched the live poker rooms anyone can view at SWC.
Satoshi Dice is already the dominant transaction on the bitcoin network. Just look at all the micro bit transactions that Satoshi Dice has daily, it bogs down the whole network as well.
Traditional casinos are too regulated to venture into the grey mist of online gambling and the Feds have seized traditional currency online casinos where the funds or operators were inside the USA.
Yet outside the USA online gambling is done by a huge segment of the world’s population.
Have you been inside a US casino in the last 20 or so years, how do they cater to the world’s largest segment of the world’s population (Asians)? So in Asian areas and population centers online gambling like casino gambling is accepted and done by a much higher percentage of its population than the traditional Caucasian population of the US or the UK does.
I predict a very popular viral explosion in bitcoin will soon occur as a viral growth sports book and or live poker room chartered out of the Cayman Island appears. It will cater to the starving segment of the US population that is currently blocked out of most online casinos that use traditional banking services.
In fact I’ve already been getting email invitations to play at such ventures, so when such a venture becomes a viral presence for sports betting and live poker rooms for just US consumers, how many new bitcoin wallets will have to be opened to acquire what will soon be the major currency of all vice activities around the world.
Some bitcoin gamblers flush with their winnings will use their coin to buy stuff on Overstock and Expedia which both take bitcoin and some will exchange it for the fiat of their choice.
I also expect bitcoin to become the currency of choice for another vice industry that is huge on the net. The adult industry built the early net, now porn is free but it is used to fuel online sex sites or so-called web cam portals.
You can expect that whole industry to move towards bitcoin soon. Even adult night clubs and strippers are starting to accept bitcoin as are pretty much all types of businesses today.
Face it, vice businesses are a huge portion of the overall global economy and a huge segment of the net. So the fuel for bitcoin will be more Silk Road operations or DRUGS, online GAMBLING and the SEX trade (Adult Businesses). All of these industries exist, and they all have problems trying to use traditional banking services. Vice and banks do not get along very well.
Bitcoin will soon have major Bitcoin Exchanges, Bitcoin Banks, Bitcoin Casinos and Bitcoin Adult businesses all operating out of the Cayman Islands IN MY OPINION.
Minor digital valued products such as ebooks and music files may soon all be bitcoin purchased items, since the transactions fees for minor purchases such as .99 cent ebooks and music files has a higher margin of profit if the distributor uses the low fee currency known as bitcoin.
Bitcoin is about to turn six years old and already it has become ‘mainstream’ as is clearly evidenced by all the major global companies that now accept it, yet the user base is still relatively small, so as vice business around the world adopt bitcoin, more and more of the general population will acquire and use disposable bitcoin wallets.
Short term bitcoin values may drop to 100 or even 50 bucks a coin, however, as the user base climbs to use it in vice transactions the value will eventually rebound and the more vice you can consume online or in person with bitcoin the more value the currency will have.
Vice is as old as humanity, so vice is the fuel to grow bitcoin.
My opinion on btc is short term bear (6 months) huge bull run long term 1 to 3 years.
Cayman Island Chartered Bitcoin Projects
1 Player Casino – High Stakes BTC Casino
i Bit Deals – 10 cent legal music downloads
