What’s The Latest In Cryptocurrency ? (New Digital Dinars)

[DinarThug]

CNN. Broadcasting While Preparing To Overwhelm The World !

 

 

 

What’s the latest in cryptocurrency? (Part II)

 

Published December 8, 2017, 10:00 PM

By Nelly Favis-Villafuerte

In my article last week (Part I), I mentioned that “the latest cryptocurrency soon to overwhelm the world is the New Digital Dinars originating in the Moslem countries.  An Internet report reveals that on January 24, 2018, the global network for processing Digital Dinar transactions goes online – although, the initial coin offering of digital dinars was held last May on the first day of Ramadan.  The difference between the new Digital Dinars and the other major crypto-money in the market today is the fact that Digital Dinars are 100% backed by real, in-the-bank gold bullion.”

Actually, this is not the first time that gold dinar was launched in Muslim countries. Gold dinars had been existing for over a thousand years ago.  But the early gold dinars were not 100% digital.  Nor were they encrypted by an uncrackable algorithm. Nor were they limitless in terms of exchange or portability. Some years ago, there were dictators in Muslim countries who created their own gold dinar.  To name two (2): remember dictator Saddam Hussein who created his own gold dinar ahead of the Iraqi invasion of Kuwait.  At that time the gold dinar of Saddam Hussein traded 3-to-1 over the dollar.  But after the invasion, the Hussein dinars collapsed… trading 3000 to 1.  Another dictator Muammar Gaddafi in Libya, also pushed his own version of gold-backed dinar in 2009.  Gaddafi attempted to have Africa to adopt his gold-backed dinars.  He was assassinated instead.  Other Islamic countries tried also to introduce their own version of gold dinar (like Indonesia in 2000, Malaysia in 2006). ISIS tried to issue its own physical gold dinar in 2015. Still there were other versions of gold dinars that came and went in Islamic communities in UK, Pakistan, South Africa and even in the US growing Islamic community but did not last.  Today, the performance of this new digital dinar is still being watched.

One may ask: Is the digital dinar being introduced by Muslim countries a threat to the supremacy of the US dollar?  All the cryptocurrencies including digital dinars are a threat (insignificant it may seem at the start) to all kinds of physical money including the US dollar. Considering too, that eight (8) of the fourteen (14) countries in OPEC (Organization of the Petroleum Exporting Countries, the organization that dictates the oil prices for the world) are Muslims.  There is always that looming threat that OPEC leaders may be tempted to replace the US dollar in pricing the oil (referred to as petro-dollar) with the more modern, gold-back, digital alternatives.

One may ask: how the so-called petro-dollar came about?  It will be recalled that sometime in 1873, when oil prices were skyrocketing, US (under the late President Richard Nixon’s administration) negotiated with Saudi Arabia on the purchase of oil.  As a result, Henry Kissinger, the US Secretary of State forged an agreement with Saudi Arabia requiring that in return for the military protection and weapons to be provided by US, Saudi Arabia would sell oil to US and thereafter all future sales in oil to US would be denominated in US dollar.  The other OPEC countries (Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, the United Arab Emirates and Venezuela) agreed then to the same arrangement.  Meaning, that the oil will be priced in US dollar.  In short, every oil export around the world (considering the US dominance as a global oil importer then) followed the practice of pricing oil in US dollar.  However, today China is now the world’s largest importer of oil.  This is how the term petro dollar came about.

The main competitive advantage of the new digital dinar is that it is backed by gold which none of the world’s most tracked currencies can claim or can boost.  Not even bitcoin which is the leading cryptocurrency (which existed only in 2009) is backed by gold.  Today, bitcoin registers over 350,000 digital free transactions per day.

Incidentally, the US dollar was backed up by gold before 1971.  But since 1971, the entire US monetary system has been based only on trust.

It will be recalled that before 1914, the global monetary system was based on the gold standard.  Including the US dollar which was then backed 100% by gold.  By 1914, the global monetary system changed into a Gold Exchange Standard in which the US dollar was only partially backed by gold.  In 1945, a new Monetary system known as Bretton Woods came about.  Under this system, world leaders agreed to have the US dollar as the global reserve currency and linked it to gold at the rate of US$35 per ounce. Later in 1971, however, then President Nixon put an end to the direct convertibility of the US dollar to gold.  As a result, the US dollar had no more backing in gold – and consequently the US dollar being a fiat currency depends solely on trust.  The fiat status/system of the US dollar is already over forty (40) years old.  So far no “crisis of trust” has yet happened. (To be continued)

link

[NEPatriotsFan1]

Who's gonna get shot for this idea?! 

[DinarThug]

The risk of "decomposition"

Author: Mohamed Sherif Abu Maysam  12/12/2017 12:00 AM  The virtual world on the World Wide Web is slowly approaching the real world. Those who do not believe in the reality of electronic payment systems today are not dealing with cash and only carry payment cards used in ATM units around the world.  Those who do not believe in e-shopping are inclined to shorten their time and effort. They are familiar with the details of goods and products, identify consumers' opinions on brands and prices, and sit in his office using computer and bank cards.  In other words, technologies are approaching absolute dominance over transactions and trades to be an electronic payment alternative to cash payment, which means lower rates of use of cash in financial transactions towards the reduction of paper currency and may be removed from the trading arena in the near or distant future.  Thus, there is an urgent need for virtual currencies that are compatible with the development paths of technologies that are monopolized by countries and companies that dominate the knowledge economy. This knowledge economy is a zero economy, which is dominated by the major industrial countries, without giving the inhabitants of the world a knowledge economy. Only knowledge, which is zero because it constitutes an element of absolute superiority depends on the monopoly of knowledge similar to the game of traction, which often draws more rope at the expense of the knockout secrets of the secrets of knowledge and runs the affairs of all economic sectors in the world.  Hence the need for a virtual currency to establish a global payment system that swallows all trades and transactions in favor of those who monopolize the knowledge economy. On this basis, many virtual currencies have emerged on the Internet to prepare a new exchange system in virtual world markets that will approach the real world in the future, Soon, the "Betkin", which was initially surrounded by a lot of ambiguity, emerged to crystallize its existence in line with the real world.  "Bettkin" is a hypothetical currency not issued by a central bank but can be compared with other currencies, such as the dollar or the euro, with several fundamental differences as an electronic currency trading on the World Wide Web only, without physical presence. On the Internet by those who monopolize knowledge and thus warn of a monopolistic global financial system that will wipe out national currencies and create a massive chaos that will establish the confiscation of the world. Will the warning benefit from the circulation of the "pettin" of central banks, as did Saudi Arabia and Morocco? As it happened In Egypt, the answer is that you need to know what knowledge economy has reached so that we can read Horoscope. link

[TLHUBER]

13 minutes ago, NEPatriotsFan1 said:

Who's gonna get shot for this idea?! 

Good Question.  Keep Hillarious away from Crypto’s and everyone should be ok.  lol 

[DinarThug]

20 minutes ago, NEPatriotsFan1 said:

Who's gonna get shot for this idea?! 

 

I Volunteer Maliki !  

 

 

 

 

I’ll Even Light His One Last Cigarette ...

 

 

 

With A Backfiring Camel ! 

     

[NEPatriotsFan1]

49 minutes ago, DinarThug said:

 

I Volunteer Maliki !  

 

 

 

 

I’ll Even Light His One Last Cigarette ...

 

 

 

With A Backfiring Camel ! 

     

I’ll second that motion.....

 

meeting adjourned 

[markb57]

so crypto could eliminate the physical dinar we hold?

[DinarThug]

1 hour ago, DinarThug said:

I Volunteer Maliki !  

I’ll Even Light His One Last Cigarette ...

 With A Backfiring Camel ! 

     

 

14 minutes ago, NEPatriotsFan1 said:

I’ll second that motion.....

 

meeting adjourned 

 

For A Cigarette Break !  

 

 

 

Has Anybody Got A Pack Of Camels ...

 

     

[DinarThug]

2 minutes ago, markb57 said:

so crypto could eliminate the physical dinar we hold?

 

The Dinar Is Just Our Pipe Dream - With Respect To Crypto I’d Be More Concerned About The Dollars We Hold !  

 

     

 

 

 

Of Course I’m Just A Clown And I’m Not Offering Any Professional Financial Advice - As Evidenced In My Investment In An Exotic Foreign Currency ...

 

  

Edited December 12, 2017 by DinarThug

[10 YEARS LATER]

16 minutes ago, markb57 said:

so crypto could eliminate the physical dinar we hold?

 

 If that happens  I'M declaring WAR !  

[Rmc10]

That would really suck if we've been focusing so much on the dinar that we missed out on cryptos and then they replace the dinar with crypto dinar. Lol. 

[DinarThug]

3 minutes ago, 10 YEARS LATER said:

 

If that happens  I'M declaring WAR !  

 

At This Point In This Super Lame Investment I’d Just Declare The Loss !  

 

 

 

However, With Respect To Crypto If Anything Catastrophic Would Ever Happen To The Dollar - Then I’m All In Against The Deep State !  

 

 

 

And I Can Promise U That They Won’t Want To See Me And An Angry Mob Of DV Peeps When I’m Thugly !

 

     

[markb57]

i see a possibility for crypto becoming the new world currency and that is kinda scary. NWO.

[Rmc10]

1 minute ago, markb57 said:

i see a possibility for crypto becoming the new world currency and that is kinda scary. NWO.

 

It most likely will be. They can record every transaction that way. Until then nothing we can do about it anyway so no worries here. 

[3n1]

3 minutes ago, markb57 said:

i see a possibility for crypto becoming the new world currency and that is kinda scary. NWO.

 

exactly friend ........ thats been my thought for quiet some time now # mind blown

 

Many people are extremely wary of a one-world currency. I didn't know until recently that this fear among Christians is due to a passage in the Bible itself. The Book of Revelation, chapter 13:16-17 says:

“And he causes all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: and that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.”

The topic came up during a drive through the country. Some friends and I utilized Craigslist to pay for a 1000-mile rideshare, and during the drive I had ample time to proselytize to our new driver friend about digital currency. After hearing my synopsis, he said, “So ... is Bitcoin kind of like the mark of the beast?”

“What's that?” I asked. He explained his take on the Book of Revelation passage — that his prophets of old were warned that the highest tyranny would come to the earth in a form of biometrically-enforced and perfectly traceable money.

What with Elliptic's recent privacy-smashing “blockchain map” and the fact that a man has already had a Bitcoin wallet implanted in his hand, one can see that my driver friend made an excellent point: if the Bitcoin maximalists get their way, and the whole world uses Bitcoin in its current form, the “compliant” masses could seriously usher in the “mark of the beast.” Here’s how:

1. Bitcoin would be the perfect currency to be declared the only “legal tender.” States have failed miserably at producing and maintaining stable currencies. They just can't resist dipping their hands into the piggy bank. Look no further than Greece for a perfect example.

But digital currency provides a way for states to save themselves from themselves. A currency with a non-manipulatable inflation rate is a brilliant way for monopolists to present a viable, long-term monopoly currency.

“Legal tender” laws have been used for 100 years to successfully corral people into using a monopoly currency. If the masses who've been obedient continue to be obedient, who's to say “legal tender” wouldn't be enforced with one digital currency as well? Just look at what's happening in Ecuador -- the state says all banks must accept a new state-run cryptocurreny. . . or else.

2. Each person's Bitcoin addresses would be tied to identity. If Bitcoin were to be declared the new “legal tender” — which may become a more popular idea as more fiat currencies begin to fail around the world — the politically obedient would be all too easy to convince that identities must be tied to payments. The usual “terrorism-financial-stability-national-security-the-children” would be used as selling points. Coinbase would probably be the biggest cheerleader.

In an ironic twist of fate, Bitcoin would become the new fiat.

Then every person's expenditures could be checked for “compliance” right from the blockchain. Addresses of “criminals” could be blacklisted and mandatory offerings (taxes) could be verified for all transactions. Your entire economic life could be tracked, verified, measured and controlled, all via the blockchain.

3. Because the blockchain is transparent, it would be extremely easy to condemn those who don't comply. Failing to include your tax payment on every transaction, or doing any business with “economically sanctioned” individuals, would land you directly on the “Trade Sanction” list.

Anyone found by the Bitcoin blockchain to trade with you henceforth would be imprisoned or worse. You may eventually starve, not for lack of food, but for lack of people willing to sell some to you. Or as Revelations would say, “No man might buy or sell.”

The relative IP address of where transactions are made is broadcast by the blockchain, so this makes for an excellent geo-tracking scheme when everyone's identites are tied to their Bitcoin address. Or as Revelations would say, “The number of his name.”

When Bitcoin becomes the new fiat, you can run, but you can't hide.

Bitcoin-related projects like DarkWallet have known these risks for a while. Mixing services like BitMixer have served to mitigate the problem, too. Even the Sidechains Elements project proposes a half-measure solution that would mask exact amounts transferred on the Bitcoin blockchain, but not the sending and receiving addresses. Such solutions are a step in the right direction, but don't really solve the inherent problem.

If “mark of the beast” fears are to be avoided in the future, it will be thanks to a market in currency — you know, the thing that Bitcoin maximalists hate. In the new film Ulterior States, Andreas Antonopoulos states that he predicts there will be tens of thousands — potentially even millions — of digital currencies created and used in the future. Bitcoin offshoots like Dash have already taken the privacy issue into their own hands, building anonymity — not just pseudonymity — right into their protocol and masternode network.

The proposals in this article may sound far-fetched, but 200 years ago, today's monopoly currencies sounded pretty far-fetched, too. Many new things sound far-fetched before they materialize.

Only by envisioning potential futures can one actively work to prevent them.

[Lucky Dragon]

Cryptocurrency will replace all other currency. A one world currency will put everyone on an even playing field.

No more currency manipulation. Trade will flow more easily. Laundering and black market will be reduced if not eliminated. Digital Dinars will come to pass. Being gold backed could truly increase the value. 

This will become a reality. For a while.

This was predicted back in 1988 in the "Economist" magazine. A one world currency called the Phoenix

Edited December 12, 2017 by Lucky Dragon

[Lucky Dragon]

PS, if you have a smart phone down load a digital wallet app. They are free at play store. Get prepared.

[jeepguy]

6 hours ago, DinarThug said:

In other words, technologies are approaching absolute dominance over transactions and trades to be an electronic payment alternative to cash payment, which means lower rates of use of cash in financial transactions towards the reduction of paper currency and may be removed from the trading arena in the near or distant future

 

6 hours ago, DinarThug said:

is an urgent need for virtual currencies that are compatible with the development paths of technologies that are monopolized by countries and companies that dominate the knowledge economy. This knowledge economy is a zero economy, which is dominated by the major industrial countries, without giving the inhabitants of the world a knowledge economy. Only knowledge, which is zero because it constitutes an element of absolute superiority depends on the monopoly of knowledge similar to the game of traction, which often draws more rope at the expense of the knockout secrets of the secrets of knowledge and runs the affairs of all economic sectors in the world.

this will be the rise of the machine , the fall of humans ...   terminator !       

[jeepguy]

if they do go crypto -  I would imagine it have to be for the bigger guys in the money world ,   bank too bank ,   other wise the   part  where knowledge ,  is  master  ,  will be  for those who can keep the lights on , power on too the computer ! 

[SocalDinar]

8 hours ago, markb57 said:

so crypto could eliminate the physical dinar we hold?

Doubt it. They do not trust banks or even use electronic transactions to any real degree. No way they will take up Middle East bitcoins anytime in the near future if ever

Edited December 12, 2017 by SocalDinar

[Synopsis]

8 hours ago, DinarThug said:

 

 

For A Cigarette Break !  

 

 

 

Has Anybody Got A Pack Of Camels ...

 

     

 

 

 

 

 

 

Hey, Winston Tastes Good Like A Cigarette Should!!! Remember THAT???!!!

 

Well, OK, we learned alot about tobacco or at least paid attention to what tobacco can do and should now avoid all THAT!!!

 

Brings back memories, though, doesn't it?

 

Go Moola Nova!

[NEPatriotsFan1]

8 hours ago, 3n1 said:

 

exactly friend ........ thats been my thought for quiet some time now # mind blown

 

Many people are extremely wary of a one-world currency. I didn't know until recently that this fear among Christians is due to a passage in the Bible itself. The Book of Revelation, chapter 13:16-17 says:

“And he causes all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: and that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.”

The topic came up during a drive through the country. Some friends and I utilized Craigslist to pay for a 1000-mile rideshare, and during the drive I had ample time to proselytize to our new driver friend about digital currency. After hearing my synopsis, he said, “So ... is Bitcoin kind of like the mark of the beast?”

“What's that?” I asked. He explained his take on the Book of Revelation passage — that his prophets of old were warned that the highest tyranny would come to the earth in a form of biometrically-enforced and perfectly traceable money.

What with Elliptic's recent privacy-smashing “blockchain map” and the fact that a man has already had a Bitcoin wallet implanted in his hand, one can see that my driver friend made an excellent point: if the Bitcoin maximalists get their way, and the whole world uses Bitcoin in its current form, the “compliant” masses could seriously usher in the “mark of the beast.” Here’s how:

1. Bitcoin would be the perfect currency to be declared the only “legal tender.” States have failed miserably at producing and maintaining stable currencies. They just can't resist dipping their hands into the piggy bank. Look no further than Greece for a perfect example.

But digital currency provides a way for states to save themselves from themselves. A currency with a non-manipulatable inflation rate is a brilliant way for monopolists to present a viable, long-term monopoly currency.

“Legal tender” laws have been used for 100 years to successfully corral people into using a monopoly currency. If the masses who've been obedient continue to be obedient, who's to say “legal tender” wouldn't be enforced with one digital currency as well? Just look at what's happening in Ecuador -- the state says all banks must accept a new state-run cryptocurreny. . . or else.

2. Each person's Bitcoin addresses would be tied to identity. If Bitcoin were to be declared the new “legal tender” — which may become a more popular idea as more fiat currencies begin to fail around the world — the politically obedient would be all too easy to convince that identities must be tied to payments. The usual “terrorism-financial-stability-national-security-the-children” would be used as selling points. Coinbase would probably be the biggest cheerleader.

In an ironic twist of fate, Bitcoin would become the new fiat.

Then every person's expenditures could be checked for “compliance” right from the blockchain. Addresses of “criminals” could be blacklisted and mandatory offerings (taxes) could be verified for all transactions. Your entire economic life could be tracked, verified, measured and controlled, all via the blockchain.

3. Because the blockchain is transparent, it would be extremely easy to condemn those who don't comply. Failing to include your tax payment on every transaction, or doing any business with “economically sanctioned” individuals, would land you directly on the “Trade Sanction” list.

Anyone found by the Bitcoin blockchain to trade with you henceforth would be imprisoned or worse. You may eventually starve, not for lack of food, but for lack of people willing to sell some to you. Or as Revelations would say, “No man might buy or sell.”

The relative IP address of where transactions are made is broadcast by the blockchain, so this makes for an excellent geo-tracking scheme when everyone's identites are tied to their Bitcoin address. Or as Revelations would say, “The number of his name.”

When Bitcoin becomes the new fiat, you can run, but you can't hide.

Bitcoin-related projects like DarkWallet have known these risks for a while. Mixing services like BitMixer have served to mitigate the problem, too. Even the Sidechains Elements project proposes a half-measure solution that would mask exact amounts transferred on the Bitcoin blockchain, but not the sending and receiving addresses. Such solutions are a step in the right direction, but don't really solve the inherent problem.

If “mark of the beast” fears are to be avoided in the future, it will be thanks to a market in currency — you know, the thing that Bitcoin maximalists hate. In the new film Ulterior States, Andreas Antonopoulos states that he predicts there will be tens of thousands — potentially even millions — of digital currencies created and used in the future. Bitcoin offshoots like Dash have already taken the privacy issue into their own hands, building anonymity — not just pseudonymity — right into their protocol and masternode network.

The proposals in this article may sound far-fetched, but 200 years ago, today's monopoly currencies sounded pretty far-fetched, too. Many new things sound far-fetched before they materialize.

Only by envisioning potential futures can one actively work to prevent them.

Watch the movie with Justin Timberlake called “In Time” : creepy take on this idea with biometric currency.... allthough you pay in time and when your time runs out you are Eliminated.....

 

8 hours ago, Lucky Dragon said:

Cryptocurrency will replace all other currency. A one world currency will put everyone on an even playing field.

No more currency manipulation. Trade will flow more easily. Laundering and black market will be reduced if not eliminated. Digital Dinars will come to pass. Being gold backed could truly increase the value. 

This will become a reality. For a while.

This was predicted back in 1988 in the "Economist" magazine. A one world currency called the Phoenix

Guess what year that was supposed to happen on the cover!?  ding ding ding you guessed it!

 

2018!!!!!! 

 

Not to be all conspiracy theorist but..... Daayyummm!! 

[Floridian]

Good grief!  It was so hard for me to buy a little Electroneum cryptocurrency because I didn't understand how to do it.  With a lot of help from many of you, I managed to do it.  And thanks so much for that help.  I appreciate it tremendously.

 

But now, after reading above, and Googling about people that have chips implanted in their hand in order to use this crypto currency, I think it really is "the mark of the beast" that the Bible speaks of.  Seems like this is our future.

 

This is a real dilemma!  I don't want to lose out on making a lot of money, but I don't want to help the devil either.  You would think the choice would be easy.  How come it's not?  

[MyLadiesDaddy]

[Rmc10]

10 minutes ago, Floridian said:

Good grief!  It was so hard for me to buy a little Electroneum cryptocurrency because I didn't understand how to do it.  With a lot of help from many of you, I managed to do it.  And thanks so much for that help.  I appreciate it tremendously.

 

But now, after reading above, and Googling about people that have chips implanted in their hand in order to use this crypto currency, I think it really is "the mark of the beast" that the Bible speaks of.  Seems like this is our future.

 

This is a real dilemma!  I don't want to lose out on making a lot of money, but I don't want to help the devil either.  You would think the choice would be easy.  How come it's not?  

 

It's going to happen no matter what. Just don't get the mark. Until then we need to go about our lives and not be worried. It may not happen for a hundred years or more. Why do you think the Amish live the way they do? That way they will always be able to provide for themselves and trade and barter when the time comes. Being and becoming self reliant is a very important thing to achieve for many reasons.  

Edited December 12, 2017 by Rmc10