Why cryptocurrency is a failed experiment

Why cryptocurrency will fail.

Cryptocurrency is a passing fashion in my opinion like Pokemon and Harry Potter, in the end it is all hocus pocus.  Here is why.

Transaction costs. It is expensive to validate every transaction on multiple computer systems via the blockchain resulting in transaction fees.  I pay $5 for a coffee in paper money without paying a transaction fee, but if I pay $5 in cryptocurrency, I could pay $20 in transaction fees.

It favors rich people. The computer’s processing transactions via the blockchain are overloaded so there is a delay in recording transactions.  Those who pay a higher transaction fee will get priority over those who can only afford lower fees to get a transaction completed quickly, thus the system is loaded in favor of the rich.

Transactions can be slow. Payment with paper money is instant, but with the majority of cryptocurrency transactions there can be delays of hours and days to complete the transaction.

The value of cryptocurrency is unstable. Payment for a house in cryptocurrency might be worth $1million in one hour, and if not instantly transacted with high transaction fees, can be halved in one hour to 50% of the value.  Cryptocurrency moves up and down in value by large jumps in short periods of time.

Cryptocurrency is not underwritten by anyone. When individuals place money on deposit in a bank, the bank fails, some or all of the deposit is safeguarded by an external authority.  Paper currency is underwritten by governments.  There is no authority that will underwrite or insure losses of cryptocurrency for instance when an exchange fails.

Cryptocurrency has no tangible value. $10K of gold bullion, even if the value falls to zero, the individual still has a lump of gold in their hand.  $10k of cryptocurrency that falls to zero becomes no more than a unique number on a database.  Nothing tangible backs cryptocurrency.

Money laundering. Criminals and terrorists can move money across borders, switching between cryptocurrency, paper currency and assets such as property quickly, posing problems for legal authorities to intervene.  Money laundering laws is causing banks to refuse or cancel financial transactions related to cryptocurrency, they can cancel bank accounts if they cannot see a legal paper trail of where a transaction came from.

Tax man sees cryptocurrency as an investment subject to tax.  Cryptocurrency is seen as an investment subject to taxation such as capital gains tax.  The tax man will investigate cryptocurrency transactions by an individual or business, demand paper trails, issue tax demands and potentially fine or imprison people they think are evading or avoiding tax.

Speculation and gambling.  Cryptocurrency is now like pokerchips where individuals gamble or speculate on a cryptocurrency going up reducing these currencies to that of a lottery or casino. Many people will lose their money.

Currency manipulation.  Value is based on supply and demand of cryptocurrency, with a small number of players being able to manipulate prices by buying and selling cryptocurrency.

Poor security. Cryptocurrency is a hackers dream.  The systems, entities and individuals involved in cryptocurrency often have poor security allowing hackers to steal currency often worth $millions, under the cloak of anonymity they and the cryptocurrency is often untraceable.

Fraud.  Cryptocurrency encourages large-scale fraud.  Hackers use malware to get websites, servers and computers of individuals or governments to mine cryptocurrency for them.  Fake offers of goods and services, exchanges and cryptocurrencies encourage victims to part with cash then vanish leaving the victim with nothing.

People use loans and credit cards to speculate.  People are fueling their cryptocurrency purchases via loans, leaving individuals and nations open to an economic credit crisis if they are unable to pay back the loans on the back of falling cryptocurrency values.

Government crackdowns. Governments are cracking down on cryptocurrencies by banning or restricting them.

Bubbles. Cryptocurrency has no tangible value, subject to speculation based upon subjective values of consumers wildly in excess of reality, creating a bubble that will see large losses for many investors.

Climate change.  The servers that create cryptocurrency and validates transactions on blockchains consumes vast amounts of electricity, powered in part by burning fossil fuels, which promotes global warming.

Inefficient and unsustainable demands on limited water and energy supplies. The servers use large amounts of water to cool them and energy to calculate complex calculations that powers the production of cryptocurrency and the recording of transactions on blockchains.  As more and more people use blockchains the demand upon electricity and water will overburden power grids and water supplies of nation states.

Satan Hunters hijack protest about church abuse

Cuckoo Satan Hunter Jake Clarke has been sectioned into a mental hospital on two occasions after promoting The Hampstead Satanic Ritual Abuse hoax.

The bishops and clergy of the Church of England met together in London last week to open an enquiry into over 3000 reports of abuse within the church including sexual abuse of children, which they say will be a painful process.

According to the Hoaxtead campaign blog two fanatical promoters of the Hampstead Satanic Ritual Abuse hoax attended a protest on child abuse in the church outside of the meeting of the Synod, handing out leaflets and shouting out their allegations that Satanists were raping, killing and eating babies in the Hampstead churches, schools, businesses and community area of London, much to the anger of other protesters who felt their protest was hijacked by this vocal minority of fantasists.

One of the fanatics alleged to be at the protest is Satan Hunter Jake Clarke who has been sectioned twice in a mental hospital in relation to his activities promoting the hoax.  The other Satan Hunter is said to be Sabine McNeill who has spent time in jail for her part in the hoax, subject to several court orders and bail conditions to prevent her harrassing innocent victims of the hoax and promoting the hoax.  McNeill faces serious charges of harrassment of her victims and breaking court orders which is set for trial in November 2018.

Primary promoter of the Hampstead Satanic Ritual Abuse hoax the Satan Hunter Sabine McNeill is subject to criminal proceedings in relation to her part played in the hoax.

McNeill recently spent a week in jail whilst her fellow Satan Hunters raised £20,000 bail money to release her until her trial.  Despite her liberty McNeill is subject to strict bail conditions, and like most Satan Hunters she has an arrogant disregard for court orders, bail conditions and the law. It remains to be seen if the legal authorities will act against the Satan Hunters behind this protest.

Comments are closed as Satan Hunter Sabine McNeill is subject to ongoing criminal proceedings.

Reverse Christians and Satanic Ritual Abuse

When Reverse Christians in the Order of Nine Angles and the Roman Catholic Church ritually abuse and harm children, it is Satanists who get the blame, and we support this impression by saying and doing nothing.

Large numbers of cases have emerged over the years of Catholic nuns, monks and priests indulging in the most perverted and sadistic abuse against children in their care, with an enquiry in Scotland revealing the horror inflicted upon orphan children at Smyllum Park by the nuns and their associates of the Daughters of Charity of St Vincent de Paul in Scotland.

Amongst the many allegations given to the enquiry by victims at Smyllum Park is that of Satanic Ritual Abuse.

‘There was quite a lot of us, with the sisters, five or six of them, maybe more. They would take us out into a big field and make us stand in a circle and dance around a tree.

‘They would take us to the back of a chapel, they would take us down the stairs – it was dingy and dark with candles. There would be a big square slab, they laid me on that.’

Janie said: ‘I was sitting on one of the nun’s knees, they gave me a lollipop. They said, “The Devil’s coming out now”.’

She said she did not know who her abuser was but ‘it was a guy in a hood – and they said it was the Devil’. She was sexually abused by the man then taken outside, where they ‘buried me alive, left me there’.

One of the nuns whispered to her: ‘Don’t worry, you will get back out.’

She said she was ‘buried in a drain’ and left overnight, and released in the morning.

Janie said the nuns dragged her upstairs in the home, where she was forced to take a bath in what she was told was blood, but now believes to be ‘red dye’.

She said: ‘They made out it was blood, they soaked me under it.’

In the context of the scale and depth of the horror being revealed at Smyllum Park I believe this is an authentic example of ritualistic abuse, however, this is by Catholic nuns rather than Satanists.

Reverse Christians, those that invert the Christian religion, but in essence are still Christians indulging in their Christian interpretation of Satan, have nothing to do with Satanists and Satanism.  It is a small step to take by the Catholic nuns at Smyllum Park after indulging in neglect, sexual, emotional and physical abuse, to include Reverse Christian rituals to torture children, then we Satanists get soiled with the taint of the depravity expressed by those of the Catholic religion.

Ritualistic abuse happens, and this is going on by non-Satanists, those connected to the Roman Catholic Church, Order of Nine Angles or mentally disturbed individuals.  Whilst the majority of Satanists and others of the Left Hand Path remain indifferent, the Reverse Christians are going to write our narrative for us that Satanists are ritually abusing, killing and eating babies.

On blockchain technology and forums

Recent technological developments like Steemit where content is posted to blockchains and rewards users with cryptocurrency will cause massive harm to individuals and society. 

In recent times a new set of technologies have emerged into the market that in my opinion is harmful rather than beneficial to humanity, I am going to deal with one of these: blockchain powered forums like steemit.

Steemit is a forum that rewards users for producing content, likes and comments on its forums.  The content after seven days is locked into a blockchain.  Forums such as Steemit encourage attention-seeking, users producing content that attracts the attention of fellow users.  The more attention the user gets, the more they earn in cryptocurrency.  Steemit has designed their forums to reward content that is popular with other users.

The problem I see with forums such as Steemit is that users will publish abusive, fake, harrassing, bullying, hateful and defamatory content in order to generate income, and this content will never be possible to remove because it is locked into a blockchain after seven days.

I have fought Satan Hunters for over three years who have attacked innocent families and children in Hampstead London with fictional stories of ritualistic rape, torture, murder and eating of children.  It has been a painful and slow process of removing abusive, dishonest, defamatory and harrassing content from social media such as Twitter and Facebook.  The Satan Hunters are now moving into Steemit and posting the same and often worse targetted content against kids and their families, but now after seven days this type of content cannot be removed from the blockchains.

We are in the early days of this new technological way of using forums which are posted to blockchains, and neither the legal authorities or the governments are yet aware of the massive challenges this type of technology is going to raise.  Already many barbarian-minded users are going to abuse this technology to profit with rewards of crypocurrency whilst hurting targetted victims, whilst their content cannot be removed without destroying the entities such as Steemit and their blockchains.