A Deep Dive into the Petro

General Milan writes about financial technology and cryptocurrency for the Earth Alliance, a loose-knit global alliance working for the benefit of humanity.  The battle over the future of Planet Earth has in many ways always been a financial battle.  As time passes and technology advances, that financial battle is increasingly being fought out in the cryptocurrency arena.
Follow General Milan on Twitter:  @generalmilan

In early December of 2017, just before cryptocurrency markets started to crater, President Nicolás Maduro of Venezuela announced the creation of the Petro cryptocurrency backed by Venezuela’s oil and gas reserves.  This was both an attempt to both circumvent the financial sanctions placed on the Maduro regime and a desperate effort to patch up the Venezuelan economy, the complete collapse of which was an entirely predictable outcome of Venezuela’s decades-long experiment with authoritarian socialism.

In this article we trace the development of the Petro from Maduro, to his Russian cryptocurrency consultants, to the Japanese/Malaysian blockchain technology upon which the Petro is based, all the way back to the Esalen Institute of California—the heart and center of socialist ideology.

Venezuela has quickly gone from being one of the richest countries in South America, with the largest proven oil reserves in the world, to having a humanitarian refugee crisis on par with the war in Syria.  As in almost all cases of mass human suffering, very dark forces are behind it, and indeed the oil industry itself is obviously at the heart and center of many wars and global environmental problems.

The story of the Petro is far from over, however, and the real battle over the financial future of Planet Earth is probably still just beginning.  In this, the happenings in Venezuela have major geopolitical implications.

On August 5th, 2018 President Maduro was the target of of an apparent assassination attempt by drone, a bizarre false flag-ish event that was seemingly produced on a very modest budget.

Then, on September 8th, 2018 The New York Times ran an exposé describing how officials from the Trump administration had met with opposition forces in Venezuela to plan a potential coup against Maduro.  The article can be seen as both a critique of the Trump administration’s tactics and as a form of support for Maduro’s claim that he a “good guy” battling against imperial American forces.

We expect the geopolitical battle to continue in the weeks and months ahead, but for now our focus is on the Petro cryptocurrency.  In fact it remains to be seen whether or not the Petro is successful in any way.  On August 30th, 2018, Reuters ran a special investigative report entitled “In Venezuela, new cryptocurrency is nowhere to be found.”  The report describes the fact that the Petro is based on oil reserves located underneath a barren patch of land that would require an investment of at least $20 billion to retrieve, money that the bankrupt Venezuelan government does not have.

Thus, in many ways the Petro is nothing but a pipe dream.  The article quotes the exiled former Venezuelan Oil Minister Rafael Ramirez as saying, “The Petro is being set at an arbitrary value which exists only in the government’s imagination.”

The Petro is based on the NEM blockchain.  The idea for NEM originally came from a Bitcointalk user named UtopianFuture, but NEM was developed by an Osaka company called Tech Bureau, led by a character named Takao Asayama.  The NEM Foundation is domiciled in Singapore and physically located in the oil-rich nation of Malaysia.

Takao Asayama is said to be closely connected to Takafumi Horie, a notorious character in Japan who is deeply connected into the Asian underworld.  Horie is a kind of a Japanese Elon Musk—an aggressive technology businessman who was criticized for his M&A practices and actually went to jail for market manipulation tactics.  It’s said that when Horie went into jail he may have been “grey,” but when he came out he was fully “black” and 60 pounds lighter.  Horie is the founder of a rocket company called Interstellar Technologies which has unfortunately experienced two failed launches.

The logo for NEM is a combination of counterclockwise-rotating Japanese mitsudomoe symbol and a shield representing the Reuleaux triangle shape used inside of the internal combustion engine.  NEM stands for New Economy Movement, not to be confused with the New Economic Model (NEM), an affirmative action plan developed by the former Malaysian prime minister and the Malaysian Chinese Association.

The NEM cryptocurrency is based on a consensus algorithm called Proof-of-Importance, which is an attempt to improve upon the rich-get-richer characteristics of Proof-of-Stake algorithms.  In Proof-of-Importance, accounts are assigned a “reputation” or “importance” score, such that accounts that are deemed to be more important to the NEM ecosystem are awarded with more new currency units.  We fear that over time NEM’s consensus algorithm may need to be renamed Proof-of-Maduro’s-Importance.

NEM was at the center of the Coincheck hack of January 2018.  In that event, hackers broke into a Japanese cryptocurrency exchange called Coincheck and stole over $500 million dollars worth of NEM, making it one of the largest thefts in the history of the world.  The hack cast a pall over the cryptocurrency market in Japan and contributed to the global sell-off that became the cryptocurrency bear market of 2018.  The hack also reduced the number of exchanges trading NEM in Japan to only one—the Zaif exchange owned by Tech Bureau itself.

In March 2018, the Japanese FSA issued a business improvement order to Zaif and several other exchanges over their security and anti-money-laundering practices.  This put Zaif and NEM in the awkward position of being close to complete shutdown in Japan.

Then on September 20th 2018, Zaif announced that it had been hacked to the tune of $60 million, but also announced that a bailout loan was being arranged through a Horie-connected Japanese investment advisory firm called FISCO.  As part of the deal, FISCO would take a majority share ownership in Zaif.  Since FISCO already operates its own cryptocurrency exchange in Japan and is already partnered with Zaif, the bailout could be seen as a way for FISCO to subsume Zaif and start fresh with a clean regulatory record.

Just one day after the Zaif hack was announced, cryptocurrency investors were left scratching their heads as the price of the Ripple cryptocurrency surged by more than 60%.  But as one Twitter user keenly noted, “Anyone attempting to explain this Ripple move should also explain why Monacoin is up roughly the same amount.”  In fact, Monacoin, billed as “the first Japanese cryptocurrency,” was among the cryptocurrencies stolen in the Zaif hack.  If the hackers of the Zaif exchange wanted to unload their stolen Monacoin, it would make a lot of sense to pump up the price first.

But back to the topic of the Petro, how and why did Maduro decide to base the Petro on the NEM blockchain?  After all, Venezuela is a world away from Japan.  To answer that question, we need to look at some of Maduro’s cryptocurrency advisors.

The first character of interest is the 27-year-old Venezuelan Gabriel Jimenez.  After Jimenez’s father was charged for defrauding investors in the collapse of a Dominican bank, Jimenez went to work in Washington, D.C. as a congressional intern for one of Maduro’s strongest critics.  In that role he was a “spirited anti-government crusader who helped organize a caravan… in which thousands of Venezuelan exiles traveled by bus to Washington to pressure the Obama administration to slap sanctions on Maduro’s government.”  But soon after, he returned to Venezuela and quickly rose to became one of the top strategists behind the Petro.  We can only assume that he is either a spy or a complete sell-out.  In any case, to find the real masterminds behind the Petro we need to look father afield, to Maduro’s Russian consultants.

In March 2018 after President Trump issued an Executive Order banning Americans from transacting in the Petro, Time Magazine published an exclusive article entitled “Russia Secretly Helped Venezuela Launch a Cryptocurrency to Evade U.S. Sanctions.”  Of course, as with all mainstream media articles about Russia, it is mostly an attempt to demonize Russia and link everything back to Putin, which is a little bit like saying that Trump controls everything that happens in the United States.  The author’s other Time articles include “To Understand Russia, Read A Terrible Country” and “How I Learned to Love the German Nanny State After Leaving Putin’s Russia.”

In any case, the Time article does a good job of detailing the Russian consultants behind the Petro.  It’s worth noting here that the symbol for the Petro, ?, is exactly the same as the symbol for the Russian Ruble that was newly chosen in 2013 via a process organized by the Central Bank of Russia.

The main two Russian consultants behind the Petro are Fyodor Bogorodsky and Denis Druzhkov.  According to the Time article, “Bogorodsky moved to Uruguay around 2009 and became an informal ambassador of Russian culture across Latin America.”  Bogorodsky’s personal website details his family’s long history in Russia from its beginnings among “eminent Tatars,” to “military service in the Crimea campaign,” to the development of banking in Kazan province.  Bogorodsky’s contributions to Maduro were apparently run out of a shell company called Aerotrading, which is only really notable for using the Illuminati lefthand OK symbol as its logo.

Denis Druzhkov is the co-founder of a Russian cryptocurrency exchange called the Zeus Exchange.  We note here that Zeus was not known to be a kind god.  The Zeus Exchange is based on the NEM blockchain and is partnered with the NEM Foundation.

Druzhkov’s Twitter account is enlightening.  He is a follower of the Latvia-based anti-Kremlin news agency Meduza, named after the snake-headed monster from Greek mythology.  He is also a follower of “the Kremlin’s leading critic-in-exile” Mikhail Khodorkovsky, the oligarch who looted Russia’s oil industry after the fall of the Soviet Union and a close colleague of Henry Kissinger and Jacob Rothschild.  Druzhkov also follows Shaltai Boltai, an anonymous hacking group that targets the Kremlin.  Needless to say, Time appears to have been completely wrong in portraying Druzhkov and Bogorodsky as puppets of the Kremlin.

Druzhkov is also a Twitter follower of the Esalen Institute in Big Sur, California.  It is worth digging into this relationship a little bit, because readers may not be aware of the Esalen Institute’s prominent position in the global Satanic hierarchy.  But remember that while the 60’s produced a lot of love, freedom, and liberation, it also produced horrible events such as the Manson family’s murder of Luciferian movie stars, all of whom hung out around Esalen.

According to The Magic of Esalen:  “At its essence, Esalen culture is organized almost like a Masonic Lodge or Secret Society, with concentric orders of initiation and status.”  In fact, Esalen was influential enough during the Cold War to have arranged United States visits via its Soviet-American exchange program for several prominent Russians just before the collapse of the Soviet Union.  This included a visit for one of Mikhail Gorbachev’s chief economic advisors, and also included Boris Yeltsin’s first trip to the United States to meet with George H.W. Bush and other political leaders.  We wonder if the Esalen Institute would be as welcoming to Vladamir Putin today;  somehow we doubt it.  Those interested in reading more about the history of Esalen are encouraged to take a look at “How Darwin, Huxley, and the Esalen Institute Launched the Psychedelic Revolutions” or the associated map.

Following President Trump’s executive order banning the Petro, the Zeus Exchange appears to have cut ties with Druzkov, at least nominally.  But having structured at least two major projects around NEM (the Zeus Exchange and the Petro), it is a safe bet that Druzkov and colleagues still are heavily invested in NEM and perhaps even actively promoting it.

Indeed, NEM has been making headway among some interesting groups.  In August, at the 100th Annual Crow Fair for the Crow Nation of Montana, NEM systems were demonstrated to tribal leaders: “Good Guy NEM? – Helping Native Americans Get into Crypto! – Great Idea!”  The Crow Nation—or the Black Lodges, as one of its subgroups is called—is located in a major oil-producing region, but NEM’s interest in collaborating with the Crow likely also extends to the tribal casino business.

Historically, the Crow tribe worked together with the U.S. Army against their enemies the Lakota Sioux.  This is notable in the sense that the Lakota Standing Rock reservation was major news in recent years due to protests over the Dakota Access oil pipeline.  We have a feeling that the Lakota would not be as eager as the Crow to embrace using a cryptocurrency with deep ties to the oil industry.

Further south in Las Vegas, NEM recently signed an informal agreement with Kind Heaven, a new multimedia theatrical experience created by Peretz Bernstein, a.k.a. Perry Farrell, the frontman of the rock bands Porno for Pyros and Jane’s Addiction.  Taking a page from The Hangover film series or even the Vietnam war, the event will be Southeast Asia-themed, complete with betting on virtual monkey wrestling:  Inside Perry Farrell’s Wild Vegas EDM Musical: Sex, Drugs and War.  It will also run exclusively on cryptocurrency.

Another project building on NEM is Eterly, the “artificial intelligence platform for life extension.”  The logo for Eterly looks like the symbol for a biohazard.  We could go on, but you get the idea…

To summarize, while the Venezuelan Petro may collapse into a failed experiment, the cryptocurrency upon which it is based, NEM, is slowly seething its way into the oil and gambling industries and beyond.  The two most important commodities in the world are gold and oil.

Money has historically been backed by gold, but that ended in 1971 when Kissinger and Nixon detached the U.S. dollar from gold, and attached it instead to an oil and military agreement involving Saudi Arabia and Israel, the origin of the petrodollar.  The result has been the greatest debt bubble in human history, a global environmental catastrophe, and non-stop war in the Middle East.  Clearly, the days of the petrodollar are numbered, but nefarious forces are already experimenting with creating new forms of petro-currency.

Gold is created through the super-energetic collapse and collision of stars.  Oil, known as black gold, comes from deep within the Earth.  While gold has been very useful as the basis of money throughout human history, and while a return to the gold standard would go a long way toward preventing bankers and politicians from printing too much money and giving it to themselves to wage endless warfare, the real problem with the financial system is the centralization of control over the creation and distribution of money.  To put it another way, even under the gold standard, the central banks are still in control of the creation and distribution of money and generally have the power to debase their currencies when it suits them to do so.

What is really needed is a new economic system where the power to create and distribute money is truly decentralized, or in other words, put back into the hands of the people.  Bitcoin was a major innovation, but it replaces control by banks with a strange new system where all new money is rewarded to those with access to cheap computers and electricity, which happens to be a few people in China.

To understand the real potential for cryptocurrency as a new method of currency creation and distribution, we recommend the excellent article “Why Everyone Missed the Most Mind-Blowing Feature of Cryptocurrency.”  NEM was an attempt to create this kind of next-generation cryptocurrency, but it is flawed and is completely controlled by nefarious forces in any case.

Rest assured, alternatives are being created.  For now, we can only advise the citizens of Venezuela as well as the rest of the world to avoid both the Petro and NEM like the Black Plague.

The post A Deep Dive into the Petro appeared first on Weekly Geo-Political News and Analysis.

Earth Alliance Cryptocurrency Report, Q3 2018

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It has been some time since our last reports (Q1-2018 and Q4-2017).  That’s okay—we are strong believers in taking a long-term approach to investing.  It’s well documented that overactive trading is detrimental to investors’ financial health, let alone their mental health.  The best thing to do is often… nothing.  Patience is a virtue.

Tech entrepreneur Naval Ravikant has said that “99% of all effort is wasted.”  This principle applies doubly in the world of investing, where over-trading can result in real financial losses stemming not only from bad trading decisions, but also from trading fees.  Just as it is in the best interest of the news media to stir people into a frenzy, so is it in the interest of the financial establishment, including the growing cryptocurrency establishment, to encourage investors to over-trade their accounts.  The real beneficiaries of all that trading are the exchanges, brokerages, and market makers who collectively skim fees and take a percentage of every trade, in the same way that casinos take a percentage of all gamblers’ bets.

In fact, the main organizations making money from the cryptocurrency markets so far are those which are facilitating trading.  We are reminded of a conversation with a top trader at a global investment bank in which he attempted to explain what it is exactly that investment banks do.  “We are the casino,” he said.  “Our clients are the gamblers.”

Make no mistake, the world is a giant casino.  People are human and are strongly attracted to things with addictive power.  We wonder what the world would look like without any businesses based on alcohol, caffeine, sex, or gambling.  It would surely be a very different place.

Where we have advocated trading before is in the rebalancing of a carefully constructed portfolio.  Rebalancing—or constantly buying low and selling high—is a way to harvest volatility.  The burgeoning cryptocurrency markets are extraordinarily volatile, so there is an extraordinary opportunity to harvest volatility, which is a kind of wealth transfer from short-term trend-followers and day traders to rebalancers.

However, there are two issues with this approach.  The first issue is taxation, because from a tax perspective, constantly selling winners and reinvesting the proceeds into losers is exactly the wrong thing to do because it maximizes realized gains.  Thus, the effectiveness of rebalancing depends a lot on one’s tax jurisdiction.  There is no point in rebalancing if the gains harvested must be paid to national governments and used to help them delay their inevitable bankruptcies.

In fact, simply spending the cryptocurrency itself is a taxable event in most jurisdictions.  Germany is the exception, and that country has moved to recognize Bitcoin at least as legal tender.  But in most other jurisdictions, buying a cup of coffee with Bitcoin would technically trigger a capital gain or loss.  This is obviously an untenable situation, and very few investors would even have the ability to keep track of all such dispersals to comply with the tax reporting requirement.

The situation is even worse if you imagine a future world of micro-transactions where cryptocurrency users are spending the equivalent of one cent here and there to pay for various services like data storage.  We joked that cryptocurrency investors should start dumping million-page Schedule D forms onto the front lawn of the IRS.  If spending cryptocurrency triggers capital gains, then it is much better to just HODL and never spend it, but that would kind of defeat the purpose of it—cryptocurrency was originally envisioned to be a medium of exchange and not simply a store of value.  This is just one of many ways in which cryptocurrency is pitted in a battle against governments, and in which government regulation is, as always, lagging far behind technological innovation.

On the topic of tax, we will mention here that the large capital gains realized by active cryptocurrency traders in 2017 are one possible explanation for the brutal cryptocurrency market sell-off that began in December 2018 and accelerated into the first quarter of 2018.  Anyone wanting to take some profits out of the market at that time would probably not have wanted to sell until the new year so as to delay owing taxes by at least one more year.  But knowing that many investors might sell out in January could in theory cause a sell-off in December, as investors willing to foot the tax bill sooner tried to get out before more widespread systematic selling began—and a sell-off starting in December is exactly what we saw.

The market peak also coincided with the launch of the Bitcoin futures trading that many market participants feared that would allow large-money interests to systematically short the market, thus driving it down.  In reality, initial futures volumes were very low, but remember that markets are often driven more by fear and expectation than by actual events.

In any case, speculating on the causes of the sell-off is beside the point.  Markets have a mind of their own (are they sentient?) and our job as long-term investors is to ignore the short-term fluctuations, however painful they may be.  The history of cryptocurrency is fraught with huge sell-offs, so it is really par for the course.

We need to examine the market with a wider lens.  The always-entertaining John McAfee put it succinctly: “Okay, people:  Can we please get real?  One year ago to the day, Bitcoin was at $2,560.  Today it is over $6,000.  That is a 140% increase.  This year-to-year increase has been accelerating significantly.  Stop the short-term thinking.  Get real.”

Back to the topic of portfolio rebalancing, there is also an argument that rebalancing a portfolio of small tech startups is not a correct approach, given that tech startups tend to follow a power law distribution, meaning that a few companies (or coins in this case) come to dominate and the rest fail miserably.  In such a market, the best approach is to diversify but to let the winners ride, instead of rebalancing out of them and into the losers.  Of course, there are those “Bitcoin maximalists” who feel that Bitcoin itself is the only real long-term winner and that the ICO market is a land of empty promises.

The Bitcoin maximalists were not right in 2017, as the price-performance of Ethereum trounced that of Bitcoin itself and Bitcoin market dominance declined dramatically, but it remains to be seen if this trend eventually reverses.  Bitcoin maximalist (and voracious carnivore) Saifedean Ammous published a book called The Bitcoin Standard, which makes a strong argument that Bitcoin improves upon the central banking gold standard, or in other words, that it is like Gold 2.0.  The book was well summarized by a former advisor to the French prime minister.

However, gold bugs like Jim Rickards often point out that Bitcoin is not backed by anything real and is a far cry from gold.  Gold is a very special element of the universe that is probably only produced in massively energetic neutron star collisions.  We have a feeling that this debate will not be resolved anytime soon, which is probably a boon for Bitcoin, given that it is still just a small fraction of the size of the gold market.

Somehow we are reminded of the recent film Ready Player One.  While the virtual world is certainly not a nirvana, it is pretty obvious at this point that it is ever-increasing in size and importance.  This probably bodes well for virtual currency.  But zooko from the Zcash project put it well when he said, “I’m a maximalism minimalist.  The universe is always at least an order of magnitude bigger than what you can see.”

Of course, establishment economists such as The Financial TimesIzabella Kaminska have long argued that, as a currency, Bitcoin is even more untenable than gold.  The argument is based around the idea that money supply should expand and contract fluidly as needed to maintain price stability and avoid dreaded deflation.  In fact, Bitcoin could be even more deflationary than anticipated, given that approximately 5% of cryptocurrencies are irretrievably lost annually according to one estimate.  That is a lot of forever-sunken gold.  In any case, readers of The Financial Times might now be kicking themselves for having missed out on the entire blockchain revolution so far.

Keynesians aside, if gold and cryptocurrency are the two main contenders for a global store of value, then what about gold-backed cryptocurrency?  There is an argument to be made that it would be the best of both worlds, but it’s not that clear.  For one thing, gold-backed cryptocurrency reintroduces the need for trust.  Bitcoin maximalists love the fact that Bitcoin is fully decentralized and trust-less (putting aside the fact that most mining is controlled by a couple of people in China).  With gold-backed cryptocurrency, there is obviously a need to believe, or trust, that there is actually some amount of gold located somewhere and allocated to every unit of the cryptocurrency.

Moreover, while we have argued for real asset-backed cryptocurrencies in the past, it is far from clear how some of them would function practically.  One major issue was well summarized in a recent tweet:  “If I buy a tokenized house and lose my private key, have I lost ownership of my house?  Can I never sell it again since I can’t technically transfer the key?  Who can issue me a new key?  Where is the real ownership ledger?  What is the use of the token?  Honestly wondering.”

We recently mused that the ideal global currency might simply be micro-shares of the global all-asset portfolio.  One unit of the currency would represent a small ownership stake in every publicly tradeable asset in the world in proportion to the asset’s size.  Thus it would be a recursive system where the currency itself would have an earnings yield, as opposed to cash or gold which naturally yield nothing, or which often actually have a negative yield in the form of inflation or storage costs.

Anthony Pompliano, or Pomp, is a big proponent of the idea of “tokenizing the world,” and is one of the most incessantly positive cryptocurrency commentators.  But he recently decided to take a break from the negativity of the online world following a thread for which he was criticized for being over-enthusiastic about the potential of tokenized securities.

Many people pointed out that re-implementing existing securities in the form of tokens will not necessarily be as large of a wealth transfer event as the invention of a new gold-like asset (Bitcoin).  But it remains to be seen how it all plays out.  It is quite possible that the very concept of equity, or of shared corporate ventures, will be transformed by the advent of cryptocurrency.

Indeed, ICOs have recently overtaken other forms of fundraising even though they do not convey typical equity rights to investors.  So it remains to be seen how ventures are funded and earnings shared with investors in the future.  Remember that we are already living in a world where many of the leading tech stocks do not own much in the way of hard assets and do not typically pay out dividends to investors.  Tech stocks are already quite “virtual” in a sense, and have already evolved a long way away from the more traditional idea of what a stock should be.  This process is bound to continue as cryptocurrency continues to revolutionize Silicon Valley.

We take Pomp’s temporary departure from online commentary—just before the summer solstice—to have coincided with a low point for the market.  Cryptocurrency’s most enthusiastic and incessantly positive commentator could not withstand the negativity and he surrendered.  And while we generally shy away from all forms of market timing, as described above, our sources indicated that this year’s summer solstice marked a turning point not only for the crypto markets but also for the more general ongoing battle for control of planet Earth.  We shall see.

We were very happy to see Pomp return to active commentary—on the Friday, July 13th new moon.  The numerology of this date is a bit counterintuitive, since we are taught by Hollywood that only bad things happen on this date.  But remember that Hollywood is well known to be chock-full of disinformation anyway, and the interpretation of dates and numerologies is much more complex subject than one might expect.

In other esoteric crypto news, John McAfee spent the summer solstice in a coma induced by apparent poisoning, but awoke thereafter in good spirits.  Shortly thereafter, he was forced to avoid a live speaking appearance due to “credible death threats.”  McAfee is planning to run again for U.S. president in 2020, this time on a cryptocurrency-based platform.

On the topic of security-like tokens or security tokenization, we will mention here that we are generally dividend lovers, and this is reflected in our affinity for proof-of-stake cryptocurrency systems.  One view is that proof-of-work is an “absurdly inefficient” version of proof-of-stake, given that in either system those with a lot of money are capable of coming to dominate through investment—the only difference being that proof-of-work requires much more energy expenditure and the setup of warehouses, etc.

While we concede that Bitcoin may remain on top indefinitely, our general view that cryptocurrency will continue its evolution towards proof-of-stake platforms that offer tokenization and programmability, a process exemplified by Ethereum’s great success in 2017.  In light of that, our favorite investment at the moment is Waves, a fully-functioning proof-of-stake system that is already technologically more advanced than Ethereum in many ways but which stills trades for a fraction of Ethereum’s price.  In addition, the Waves platform already includes a fully-functional decentralized exchange allowing for the secure trading of arbitrary crypto-assets without restriction.

We list our portfolio of recommendations below in rank order of our preference for each investment at the current time.  The order represents conviction, pricing/risk, and also a time preference, in the sense of some investments being more likely to mature sooner than others.  While we have advocated for an equal-weight portfolio in the past, the rank ordering information below could, for example, be used to overweight higher-conviction positions.

Note that our first three positions are all blockchains which either already are, or have some plan to become, some version of proof-of-stake chains.  Of further note is the fact that the top two positions are both using the Bitcoin Next Generation (Bitcoin-NG) consensus algorithm from Professor Emin Gün Sirer.  As one of the world’s foremost blockchain academics, Emin’s new Avalanche consensus algorithm is also one to keep an eye on.

  1. Waves
  2. Aeternity
  3. Quantum Resistant Ledger
  4. Ethos
  5. Stellar
  6. 0x Protocol
  7. Basic Attention Token
  8. Edgeless
  9. Substratum
  10. Maecenas
  11. Swarm City

As a reminder, we are providing information to the public simply out of a desire share our views and the results of our research. The battle for control of planet Earth has always been a financial battle, and within the realm of finance, cryptocurrency is the latest battleground for control of the future.

There are actually some strange theories that Satoshi Nakamoto was a time traveler. We don’t put much stock into such ideas;  however, there are many bizarre occurrences in the world of cryptocurrency that can perhaps only be explained as manifestations of the greater ongoing battle.  These apparent attacks and counterattacks can give us some insight into the future, as they give us a glimpse of some of the possible futures that certain forces are attempting to either prevent or facilitate.

Of course, we take a position alongside the forces that we feel to be benevolent.  This is our somewhat more esoteric idea of “socially responsible investing,” which is a topic of growing importance even on Wall Street.  The only problem with social responsibility is that it is a very subjective concept.  We are speaking here from the perspective of the Earth Alliance, a loose-knit collective of global organizations working for the benefit of humanity that includes the Asia-based White Dragon Society.

The post Earth Alliance Cryptocurrency Report, Q3 2018 appeared first on Weekly Geo-Political News and Analysis.

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????????????Bitcoin ??Bitcoin????????????????????????????????????????????????????????????????????????????Bitcoin????????????????????????????????Bitcoin?????????????????????2017???????????????????Bitcoin???????????????????????

Bitcoin??????2.0????????????????????????????????????????????????????????Ethereum?Waves?Stellar???????????????????????????????????????????????????

Stellar?????????Jed McCaleb?????????????????????????????????????????2015??New York Observer??????The Race to Replace Bitcoin.?Bitcoin????????????????????????McCaleb????????????????????????????????????????????????????????????????????????McCaleb?????????????????????McCaleb?????????????????????????????????????????????????????????????????????????????McCaleb??????????????????????????????????????????????????????????????????????????????????

McCaleb???Ripple??????? Ripple??????????????????????? Stellar??????2017???Ripple???????????????????????????????????????GoldMoney????Roy Sebag???????????????say?: ?XRP [Ripple]?????????????????????????????????????????Ripple???????????????????????????Ripple??????????

????Ripple?????????????????????????????SWIFT???Sibos?????????????????Ripple???????????????Ben Bernanke?????????????????????????Stellar??IBM???????????????Stellar ??????????????????????????????

McCaleb?Ripple????????????????????????????Bitcoin???Mt. Gox?????????Mt. Gox ?????Magic: The Gathering?????????????????????????? ????????????McCaleb?2011?????Mt. Gox???? (88%) ??????????Mark Karpeles???????2013?/2014??????Mt. Gox????????????????Mt. Gox???????Bitcoin???????????????????????????Mt. Gox????????????

Mt. Gox ??????????????????????????????????????????McCaleb?Mt. Gox??????????????????????2011??? ??????????????????????????????????????????????????????????????????????????????????????????????????

Mt. Gox? ????????????Mt. Gox??????????????????????????????????????????????????????????????2017?????Bitcoin?????????????2017???????????????????????????????? ???Bitcoin??????????????????????????????????????????????????????????????????15 different cryptocurrency exchanges?????????????????

???????Bitcoin ???????????????????????????????set up shop????????????????????????????????????????????????????????????????????????????????????????????????

Stellar??????Emin Gün Sirer???Bitcoin-NG??????????????????????????????Waves???????????????????????Waves???????????????????????????????fastest decentralized blockchain???????????????? Substratum?????????????????????Substratum??????????????????????????????????

????????Parity wallet???????????????????????????????????????????3000????????????????????????(?????????????????????)?????????Parity wallet????????????????????????????????????????????????????????????????????????????????????????????????????

?????????????????????????Gavin Wood/Parity Technologies????????????Polkadot??????????????????Polkadot ???????????????????????????????????????????????????????????????????????????????????Polkadot ????????????????????????????????????????????????????????????????????????????????????????????????

????????bug report???????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????

???????????????????????????????????????????????? Bitcoin?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????

?????Parity wallet?????Parity???????7??????????Parity wallet????????????????????????????????????????Iconomi????????????????????Iconomi???????Parity??????????????????????????????????????????????????????????????????Iconomi???????????????????????????????????????????????????Melon??????????????????????????????????Iconomi????????????????????????????

??????????????????ChainLink????ChainLink?????????????Ari Juels??????????cult of Demeter?????????????????????????????????????????SWIFT???????????????????????????????World Economic Forum?????????????????????????????????????

Bitcoin??????????????????????????????????????????????????????????????ice-nine????????????????2018???Bitcoin???????????????????????????????????????????????????????2013?????????????Silk Road???????????????BitInstant????Charlie Shrem???????????????? ???????????Bitcoin??????????????????????????????highlighted????????????????????????????????????????????????????

Charlie Shrem ?????????????BitInstant ????????????2013????????????????????????????????Bitcoin Cash??????Roger Ver??Mark Zuckerberg?Facebook??????????????Facebook???????????Winkelvosses???Winklevoss twins???????

?????????????????2013??Winkelvosses???Zuckerberg???????????????????Bitcoin?????????????????Bitcoin ?????????????????????????? 2015???????????? Gemini??????????????????????????CBOE???????????????Bitcoin??????????????????????????????????????????????Bitcoin??????????????Bitcoin?????????????

?????????????????????????????????????????????decades???????????????

???????????????Ben Goertzel?????????AI??????SingularityNET?????????????????????????????????????????????????????????????????????????????AI(Google??)??????????????????????????WDS????????Elon Musk ????????AI ???????????????????????????????SingularityNET?????????????????????Parity Technologies???????????????????????????????????????????? SingularityNET ???????????Lord Voldemort. ?Mimblewimble??????????????

???WDS??????????????????????Ethereum???????????????????Ethereum????????????????????????????????? Ethereum ???????????????????????????Ethereum?2017???????????????????????????????????????????????????????????????????????????????????????????????

Quantum Resistant Ledger: ??????????????????????

0x Protocol: ??????

Maecenas: ??

Basic Attention Token: ?????

Swarm City: e????

Edgeless: ?????

Substratum: ??????????

Ethos: SNS??????????? (Bitquence????????????)

Stellar: ???

Waves: ?????????????????????

Aeternity: ???????????

??????????????????WDS????????????????????????????????????????@generalmilan???????????

The post ???????????????? ???????????????? ??????????? appeared first on Weekly Geo-Political News and Analysis.