Stepping up the the link to charity for viable causes,,,outside the corporate system banking system.

https://coinbase.com/?r=52b648d7a6707c072200008a&utm_campaign=user-referral&src=referral-link

With this link you should be able to associate with CoinBase the largest Bitcoin exchange in the US. It is a cryto-curenncy…

Cryptocurrency

From Wikipedia, the free encyclopedia

cryptocurrency is a digital medium of exchange. The first cryptocurrency to begin trading was Bitcoin in 2009, since then numerous cryptocurrencies have become available. Cryptocurrencies are at bottom specifications regarding the use of currency which seek to incorporate principles of cryptography to implement a distributed, decentralized and secure information economy. When comparing cryptocurrencies to fiat money, the most notable difference is in how no group or individual may accelerate, stunt or in any other way significantly abuse the production of money, instead only a certain amount of cryptocurrency is produced by the entire cryptocurrency system collectively, at a rate which is bounded by a value both prior defined and publicly known.

Dozens of cryptocurrency specifications have been defined, most are similar to and derived from the first fully implemented cryptocurrency protocol, Bitcoin.[1][2][3][4][5] Within cryptocurrency systems, the safety, integrity, and balance of all ledgers is ensured by a swarm of mutually distrustful parties, referred to as miners, who are, for the most part, general members of the public, actively protecting the network by maintaining a high hash-rate difficulty for their chance at receiving a randomly distributed small fee. Averting the underlying security of a cryptocurrency is mathematically possible, but the cost may be unfeasibly high. For example, against Bitcoin’s proof-of-work based system, an attacker would need computational power greater than that controlled by the entire swarm of miners in order to even have 1 / 2^(# authentication rounds for this cryptocurrency – 1) of a chance, which means directly circumventing Bitcoin’s security may be a task well beyond even a technology company the size of Google.[citation needed] To date, no nation has replaced fiat money with cryptocurrency.

Most cryptocurrencies are designed to gradually introduce new units of currency, placing an ultimate cap on the total amount of currency that will ever be in circulation. This is done both to mimic the scarcity (and value) of precious metals and to avoid hyperinflation.[6][7] As a result, such cryptocurrencies tend to experience hyperdeflation as they grow in popularity and the amount of the currency in circulation approaches this finite cap. [8] Compared with ordinary currencies held by financial institutions or kept as cash on hand, cryptocurrencies are less susceptible to seizure by law enforcement.[6][9] Existing cryptocurrencies are all pseudonymous, though additions such as Zerocoin and its distributed laundry feature have been suggested, which would allow for anonymity.[10][11][12][13]

History of cryptocurrencies[edit]

Early attempts to integrate cryptography with electronic money were made by David Chaum, via DigiCash and ecash, which used cryptography to anonymise electronic money transactions, albeit with centralized issuing and clearing.[14]

The first cryptocurrency was Bitcoin, which was created in 2009 by pseudonymous developer Satoshi Nakamoto, and used SHA-256 as its proof-of-work scheme.[3][15][16] Later on, other major cryptocurrencies, such as Namecoin (an attempt at a decentralized DNS, which would make internet censorship very difficult), Litecoin (which uses scrypt as a proof-of-work, as well as having faster transaction confirmations) and Peercoin (which uses a proof-of-work/proof-of-stake hybrid, and has inflation of about 1%) were also created.[1] Many other cryptocurrencies have been created, though not all have been successful, especially those that brought few innovations.

For the first two years of existence, cryptocurrencies gradually gained attention from the media and public.[17] Since 2011, interest has rapidly increased, especially during the rapid price rise of Bitcoin in April 2013.

Proof-of-work schemes[edit]

The most widely used proof-of-work schemes are SHA-256, which was introduced by Bitcoin, and scrypt, which is used by currencies such as Litecoin.[1] Some cryptocurrencies, such as Peercoin, use a combined proof-of-work/proof-of-stake scheme.[1][18]

Notable cryptocurrencies[edit]

Further information: List of cryptocurrencies
Currency Code Year Est. Founder Active Website Value of money supply Algorithm Note
Bitcoin BTC 2009 Satoshi Nakamoto(pseudonym) Yes bitcoin.org ~7,400 millionUSD[19][20][21] SHA-256
(proof-of-work)
The first widely known decentralized ledger currency.
Ripple XRP 2013 Ripple Labs Yes ripple.com ~2,200 millionUSD[citation needed], though this cap cannot be compared with other cryptocurrencies as almost all XRP are held by the developers. Consensus, ECDSA The only widely recognized cryptocurrency that is not a fork of the bitcoin protocol.
Litecoin LTC 2011 Coblee Yes litecoin.org ~411 million USD[20][21] Scrypt
(proof-of-work)
The first Scrypt cryptocurrency.
Peercoin PPC 2012 Sunny King Yes peercoin.net ~65 million USD[20][21] SHA-256
(proof-of-work/proof-of-stake)
The proof-of-stake is designed to give Peercoin increased energy efficiency and a small amount of decentralizedinflation; however, this is mitigated by its deflationary aspect caused from destroyed transaction fees.
Namecoin NMC 2011 Vinced Yes dot-bit.org ~30 million USD[21][22] SHA-256
(proof-of-work)
Namecoin is meant to act as adecentralized DNS, which would makeinternet censorship very difficult. Namecoin serves the .bit domain.
Dogecoin DOGE 2013 Billy Markus Yes http://dogecoin.com/ ~9 million USD Scrypt
(proof-of-work)
As of December 23, 2013, 12.5% of the 100 billion total dogecoins have been mined..

Criticism[edit]

  • Some have expressed concern that cryptocurrencies are extremely risky due to their very high volatility[23] and potential for pump and dump schemes[24]
  • Some of these coins are pre-mined, meaning many of the coins are produced prior to being released to the public, some have hidden launches, or have extreme rewards for the first miners.[25][better source needed]
  • Most cryptocurrencies are duplicates of existing cryptocurrencies with minor changes and no novel developments.
  • Very few cryptocurrencies can be exchanged for fiat currencies and instead can only be traded for other cryptocurrencies. Banks generally do not offer services for them and sometimes refuse to offer services to virtual-currency companies.[26]
  • Regulators in several countries have warned against their use and some have taken concrete regulatory measures to dissuade users.[27]

Major markets[edit]

[icon] This section requires expansion.(December 2013)

Cryptocurrencies can be traded for other currencies through various online exchanges.

Other than two or three primary cryptocurrencies, most cannot, as yet, be used to purchase goods or services.

See also[edit]

  • Alternative currency
  • Bitcoin protocol
  • Cryptobank
  • Cryptographic protocol
  • Digital currency exchanger
  • Digital currency
  •  This is this wheel of new finance. Currently it is HIGHLY volitile. Deemed unsafe by many investors, but it also has the potential  to be the next big player as the paper dollar starts to decrease. Running in a bull market currently and potentialy wiping out “Money Orders” and “Wire Transfer” companies,(mainly Westen Union)it charge only pennies on the dollar with a very low pay-in.
  •     If I were not a blogger and had  more experience in code and the capital to buy a “Bitcoin Mine”  I would probably be buying all 3000
  • followers dinner this weekend if my original BitWallet could be located.
  • Just one more reason to clean up my act this year. ƒƒƒ      OCUPPY THE FARM OWS OCCUPY WALL STREET JP MORGAN RBS 
  • Any one wanting to fight against  fracking, .01 BITCOIN woujd be a $7  donation to local Frack-Fighters and get your Bitwallet set up for the future. Peace and Happy New Year.
  • http://noharmtothefarm240px-Bitcoin_paper_wallet_generated_at_bitaddress.com

Snowden’s Christmas admission…

                Just a thought….

               It is now our duty to police ourselves, to make sure our thoughts are organized and to stand fast in our commitments to one another. The far reaching arm of the Orwellien  overlookers  are indeed everywhere. On every corner, with every call for a pizza, the government has rationalized the need for the consumption of your personal existence. The fruit of the Constitution has been wilting on the vine for years, but this truly is the storm that knocks the last grape of freedom from the arbor. If you can, Check out the channel 4 interview.    ƒƒƒ

Ocuppy the farm– OWS—Occupy Wall Street

“A child born today will grow up with no conception of privacy at all,” Mr. Snowden said in a Christmas Day message shown by Channel 4. “They’ll never know what it means to have a private moment to themselves — an unrecorded, unanalyzed thought.”
“Privacy matters; privacy is what allows us to determine who we are and who we want to be,” he said.

As the year ends…..

A short plug for my home studio. Thanks, Kelly. Wishing you and yours a great day.1367197651

Dropping Out of the Cleptocracy and Oligarchy of the current sytem.

              As the year ends , my December has been pretty busy. As you can see the blog has suffered dearly! I will ntry to bring you up to speed as I myself have been preoccupied with other endeavors. My mind has hardly been still as I watch the rows  of shoppers fill their carts with things that are “on sale”. 

              That being said, do ever wonder about the “on sale” gimmick? How can a company sell something for pennies on the dollar if in fact somewhere in the Corporate structure that product is bought by them at that price? I got  75% off you say, I say if you trace that product back through the roots of the store chain, someone, somewhere purchased that product for that price and is probably making even at selling it for 75% off.

               Stop a minute and think about that shirt you just bought in Vietnam. It was produced by a major retailer. After the discount it cost $3. Now start with the production of it. It was probably made by a major retailer. One that has been in business for years. It started as fabric produced in China for Vietnam most likely. Then it was created by a Vietnamese worker, loaded on a ship by a Vietnamese worker. It was shipped across the world in a ship. A ship that burns diesel fuel. Then at a port in Californian it was unloaded and placed on a truck or train that crossed the US, now as the truck is finally unloaded, it is no wonder why the people at major retailers are starting to see a pinch. As it it is finally priced, stocked and then resold by the cashier, the company has still made billions of dollars in profit.  

                There is something seriously wrong with this scenario. Do you now understand why Corporations are fighting for an adjustment in the minimum wage? We as Americans need to fight for a reestablishment of the middle class. Without it we are headed the way of most 3rd world countries, in fact we already have one step in the door. We as Generation X are living off the Post war profiteers and a handful of entrepeneurs that were still able to harvest a business and education in th Dot.com bubble. The system is now broken. Pick up the pieces you can and run with them before you have your children of which there are fewer and likely from broken families living in your basement.

                It will only be a short holiday though from their company because in 20 years they’ll be back. Changing your diaper. Isn’t the American dream looking sweet.        NOT.     Occupy The Farm 

http://noharmtothefarm.com