Topic: Bitcoin: Honeypot? (Read 2533 times)

conspiracy theory, one of many ... dont belive in conspiracy theories

Yeah, cryptography is without a doubt the provenance of intelligence agencies and
one person can't create something like that, frankly the idea that an anonymous individual created it is ridiculous. Simply doing enough testing to get a barely functional prototype out in the wild would require 1000s of man hours. I dismiss that notion out of hand.

Consider this, economic activity is a form of communication, it's how one segment of society signals its needs for resources to another segment of society. Just as we aren't going back to the pony express to communicate over distance we aren't turning our back on the idea of digital currency. It's going to happen, just as the widespread adoption of other major technical developments was a foregone conclusion, the only question is how. Clearly very few organizations have or can acquire the specialized resources necessary for such an effort, this means a state is behind it.

I've been thinking about why an intelligence agency would do such a thing and I think the theory I outlined is a good possibility. We've been misusing keynesianism by using our own domestic currency, for the reasons previously stated, as the world's reserve currency instead of instituting an objective international unit of account, such as Keyne's Bancor. This allows us to devalue our own currency while continuing to borrow yet defer the negative effects to the rest of the world by imposing very expensive external costs on the rest of the world's economic development via repressive economic scheming coupled with interventionism to counter resistance. This "guns and butter" principle is the basis of our economic philosophy for domination of global markets. However, the new financial system that began with the Nixon shock and came out of the demise of Bretton Woods is starting to break down and has resulted in an economic meltdown of epic proportion. This is causing big problems to emerge, politically speaking.

Introducing a new electronic international unit of account that is rigged with backdoors would solve a host of problems in the the economic and diplomatic arenas, yet allow US to maintain covert control if things go south.

So...it's gotta be a gag, however, Russia and China obviously didn't buy it because both banned cryptos as soon as they figured out what was going on.

Still digital currency isn't going away, and for this I am extremely interested in it and think it can be of use. All this doesn't mean that cryptos don't have all of the possibilities being imagined now. We just need one that is provably not compromised by any state agency.

My theory about it coming from a gov. org  is that Bitcoin solves a major globalization problem. Currency devaluation, if it is from a government I think it has something to do with devaluing currency and the like. Can't really devalue a currency you aren't in control of, therefore you can't create a trade imbalance in your favor.

If this is the case it is most likely a test for when something similar is really needed in the future.

I wouldn't be surprised at all if crypto turns out to be a covert US effort to make the USD and the current failed reserve currency system obsolete and replace it with a digital currency protocol that they have built all kinds of controls and backdoors into.

That's pretty much what they did with electronic computer and phone networks, why not do the same thing with electronically implemented financial networks?

Why do this though?:

The Bitcoin could work in much the same way that the Keyne's Bancor was supposed to work to mitigate the Triffen dilemma. China has been pushing to institute special drawing rights to negate the negative effects on the rest of the world of using the US domestic currency as the world's reserve currency (possible only due to the so-called Triffen dilemma). The USD's use as the world's reserve currency allows the US to keep borrowing and printing dollars while the negative effects of doing so are diverted into various externalities that the rest of the world absorbs, thus allowing the USG and the economy it controls to benefit from devaluing it's own currency. However the jig is up and the world is demanding SDR.

However, what if instead of the Bancor or SDR, which the US would not control, a digital substitute that was controllable was instituted as the unit of international monetary exchange? China and Russia would never go for it unless the USG wasn't behind the currency. Thus the tale of Satoshi Nakamoto is born.

It would be a work of near-genius if that was what was going on.

Donated? Hardly. Satoshi is estimated to own around 1 million bitcoins. Some say he only created Bitcoin just so that he could profit immensely from his invention. Others say he really does want to make the world a better place. I think it's a little from column A, a little from column B.

beneficial technology donated to the word by an anonymous "genius"?

http://en.wikipedia.org/wiki/Honeypot_%28computing%29

?

Research honeypots are run to gather information about the motives and tactics of the Blackhat community targeting different networks. These honeypots do not add direct value to a specific organization; instead, they are used to research the threats that organizations face and to learn how to better protect against those threats. Research honeypots are complex to deploy and maintain, capture extensive information, and are used primarily by research, military, or government organizations.