Hey, What’s This Bitcoin stuff all about?? Bill Gates and others explain in this “BTC 101 Video”.

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Texas Constitutional Amendment

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This amendment tabled March2nd, 2017 and sponsored by Representative Matt Schaefer, would alter Article I of the Texas state constitution to enshrine the right to use any “mutually agreed upon medium of exchange”.

“Article I, Texas Constitution, is amended by adding…the right of the people to own, hold, and use a mutually agreed upon medium of exchange, including cash, coin, bullion, digital currency, or scrip, when trading and contracting for goods and services shall not be infringed. No government shall prohibit or encumber the ownership or holding of any form or amount of money or other currency.”

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Micro Economies

A key premise in my books in building sustainable economies, has been the premise of multiple currencies (vs. the present central, sovereign-based mono-currency system).

Venture adviser William Mougayar of Toronto has recently posted on article on what he calls “the circular economy” with his accompanying illustration shown here.

Circular-Blockchain-EconomyWilliam’s article illustrates what I refer to as the  “elephant in the room”. i.e. the ability to generate value within a smaller economic unit, then be paid in Multiple Currency formats, with a link to external economic units via Exchanges. A multiple currency system includes the present centralized system, so there still can be applications for sovereign currencies though central currency will no longer be essential and the only option, in generating things such as food, shelter and clothing. Variations on these systems in the form of complimentary currencies have been around for many decades (see WIR from Switzerland and LETS “Local Exchange Trading Systems”.) The big difference today is the unfolding of internet-based technologies in the creation of the Exchanges – the new “on and off ramps” in the world of multiple/digital currencies. Entrepreneurs are creating this infrastructure today, just as in the most early days of the Internet, pre-Email; pre-Google; pre-EBay; pre-Facebook. I remember first being introduced to e-mail in 1989. My response was … “why would I use that? I have a fax and a telephone.”

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BTC Traction

BTC accepted here

This morning Bitcoin cracked $700 U.S. – advancing from $450 about a month ago.

Large buying in China as a means of transferring funds out of the country and a hedge against currency devaluation is credited for the advances, as well as the anticipated “Halving Event” toward the end of July – a built in software limitation to the number of BTC coins that can be created.  This will top out at 21 million coin somewhere around 2030.

 

 

 

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Former J.P. Morgan Exec on Blockchain

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“I would say, as someone said earlier, ignoring or trivializing what other people are up to is a very dangerous trade. It makes you feel better when you dismiss your competitors. It feels good when you’re talking to yourself, but the risk of ignoring the opportunity is gigantic.”

Blythe Masters, former  J.P. Morgan banking executive and now  CEO of Digital Asset Holdings of N.Y. – a blockchain based settlements and ledger services company – quoted yesterday at the Depository Trust and Clearing Corporation’s (DTCC)  Blockchain Symposium.

 

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Bitcoin Primer Book Now Available

currency by bolt cover- Aug. 1

Your timing is right.  For almost 2 years I have been working on a book that would be a practical handbook and “on ramp” for you, to the new and now fast unfolding world of cryptocurrencies and in particular the “proof of work” blockchain protocol.

Image it were 1990 and someone asked you for a book that would explain the internet and how it might be beneficial and widely used in the future.  CURRENCY By Bolt is that type of book, introducing you to how you can benefit from currencies that are now independent of the central banking system – a system now openly acknowledged as outdated and unable to address the needs of country-based economies – now crushed under central banking debt.

Your copy of CURRENCY By Bolt can be (currently only) ordered directly on line.   See http://www.professorlancebolt.com.

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IMPORTANT

new-writing-wall-72

Bank of Canada: Bitcoin Could Create ‘New Monetary Order’

| Published on November 16, 2015 at 16:35 GMT

News

Central banks would “struggle” to implement monetary policy in a world where digital currencies are more widely used, a senior official from the Bank of Canada said in a speech last week.

During an appearance at the Rotman School of Management and Munk School of Global Affairs in Toronto, senior deputy governor Carolyn Wilkins spoke about innovation and the changing face of central banking in a post-financial crisis world.

 Wilkins pointed to bitcoin as part of a landscape of alternative financial technologies and concepts that she said are pushing more and more financial activity “outside the traditional financial sector”.

She said in the speech:

“This would create a new dynamic in the global monetary order, one in which central banks would struggle to implement monetary policy. And, central banks couldn’t act as lenders of last resort as they do for their own currencies. This means that households and businesses could suffer important losses if such an e-money were to crash.”

“We need to anticipate this and manage the risks and benefits that could arise from the broader adoption of e-money,” she concluded.

Last week’s speech wasn’t the first by Wilkins to address bitcoin. Wilkins said during a speech last year that the Bank of Canada was watching industry developments “closely”, and that one possible outcome of the technology is a reduction in capacity to conduct central bank policy.

“In the unlikely situation in which cryptocurrencies were used broadly, a significant proportion of economic transactions would not be denominated in Canadian dollars,” she said at the time. “This would reduce the bank’s ability to influence macroeconomic activity through Canadian interest rates.”

The comments echo those that have been formally issued by Bank of Canada itself, as the central bank said last year that digital currencies may pose a threat to central bank stability.

 

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