Bitcoin Is The Second Greatest Scam In The History Of Mankind – CHAPTER[1]

90% people investing in Bitcoin either don't understand the difference between 'Money vs. Currency' or they are driven by 'Greed'.

Our research on Bitcoin and Blockchain technology, is based solely on rationality and objectivity. It won't only help the internet community to decide whether or not to trust cryptocurrencies but it will also educate everyone about the second biggest scam in the history of mankind after paper currencies.

Both scams are engineered ideas of one common global organization that we will expose later in this chapter. 

Note: You can give any powerful meaning to the word Elite used in this research. To avoid censorship or banning of this valuable research by the very elite forces, we are using a more careful term intentionally.

Some specific details which can not be shared in this online edition of my research book have been included inside the contents for the physical copy.

The physical copy of the book will be published on BitcoinIsScam.com

The PDF version of that book will be shared once I receive enough constructive feedback, to get an idea whether you are ready enough to hear more about this darkest side of the world that is forbidden to be discussed in academia or mainstream media.

If you read both Chapter#1 (40% research) and Chapter#2 (60% research) thoroughly with patience and open mind, then you will discover several hidden secrets of how mankind fells a prey to the same trickery and deception time and time again. This combo if read chapter-by-chapter will help you understand almost everything behind this Bitcoin saga.

You will also find far secure options of investment than these bogus cryptocurrencies and a lot more knowledge regarding cryptology and origins of money dating back to Hitler’s Nazi Germany (WWII, 1939 to 1945), World War I (1914 to 1918), and 9000 BC, but if you are a bitcoin user and you intentionally skip reading it in detail, then greed and ignorance leads one to nothing but self-destruction.

Bitcoin is the second greatest scam in history of mankind

You can access all parts or sub-chapters of this in-depth research via this uniquely designed Contents Blockchain that I designed exclusively for better accessibility. It could also be the first “Blockchain of Contents (BoC)” UI created using pure CSS/HTML contrary to “Table of Contents (ToC)” that we often use to give a quick look at the main contents.

For those of you who may find the above Blockchain of Contents a bit confusing, I have shared below the simple list of all sub-chapters for Chapter#1 :

JOURNEY STARTS HERE

  • Chapter#1: Bitcoin Is The Second Greatest Scam In The History of Mankind
  • Chapter#1.1: It all Started With 'Gold Is Worthless!'
  • Chapter#1.2: From Barter To Bits – History Of Money
  • Chapter#1.3: Why Banking Elite Hates Gold?
  • Chapter#1.4: Major Differences between Gold Vs. Bitcoin Vs. Paper
  • Chapter#1.5: Who Actually Created Bitcoin and Who Did not?
  • Chapter#1.6: Meet The Silent Genius Who Created Bitcoin
  • Chapter#1.7: How Did We Hunt Down 'Nick Szabo' To Be 'Nakamoto Satoshi'?
  • Chapter#1.8: Where Did 'Nick Szabo' Code Bitcoin Software?
  • Chapter#1.9: Unveiling The Bitcoin Team Led By Nick Szabo
  • Chapter #1.10: Banks Don't Hate Bitcoin Because They Funded It
  • Chapter #1.11: Bitcoin, RFID and The Cashless Society Agenda
  • Chapter #1.12: No Crypto Company Can Operate Without Complying with N.S.A

JOURNEY CONTINUES TO

CHAPTER#2

Bitcoin Is Scam & Fraud

This Research Is Not Against Blockchain Technology

Yes, I love blockchain technology as much as you do because its indeed one of the biggest scientific breakthroughs and a result of 20 years of research in distributed systems. Indeed credit goes to Bitcoin’s inventors who introduced this revolutionary new technology by practically implementing the first decentralized consensus mechanism based on Proof-of-Work (PoW) algorithm, which has solved the long stuck problem of double-spending. 

Thus making digital transactions and smart contracts a possibility without the need for an intermediary or central authority, to act as trust authority.

Blockchain technology will indeed give way to a wave of innovation in financial services, economics, distributed systems, voting systems, medical records, digital identity, corporate governance, and legal contracts provided that this technology is not misused.....

The idea of a decentralized shared ledger impressed me so much that I started learning its core basics (creating a simple blockchain in Node.js with PoW and mining rewards features) ever since I heard about blockchain after completing my graduation in Computer Information Systems Engineering in 2013.

CIS graduation ceremoney 2013

For die hard crypto-fans, Blockchain technology is one of the biggest Internet revolutions that is as big a technological breakthrough as was the steam engine for the industrial revolution in 18th century.

For me I would rather choose to be more realistic and say that blockchain technology is as important development to the Information Age as was the first web browser written by English scientist Tim Berners-Lee in 1990, who also invented the World Wide Web in 1989.

World Wide Web is the primary reason why billions of people today can easily interact with each other on the Internet. In future, Blockchain technology will play a similar role to become the new gateway to a lot of creative innovations that are currently beyond human imagination.

With that said let me now explain why I created this in-depth research paper to prove Bitcoin as the mother of all scams and frauds in monetary history.

What I don't trust or can’t buy as a student of monetary history and programming, is the lack of transparency and the lies being told to the internet community by the Bitcoin creators and its sponsors.

A revolutionary blockchain technology that could be used for the welfare of mankind is instead used to achieve the vicious agenda of a cashless society, through the introduction of cryptographically generated worthless computer bits called cryptocurrency, where its users enroll voluntarily (signing up for Digital Identity via an Immutable Distributed Ledger) to act as test dummies

The primary aim of Bitcoin creators is to use Artificial Intelligence (AI) and Data mining to study human reaction towards a cashless monetary system via a lawless / trustless (decentralized) Peer-to-Peer electronic cash system and Immutable (Un-editable) Blockchain technology on its initial testing phase.

ULTIMATE GOAL:
  1. Executing the cashless agenda through imposing Centralized Fiat Cryptocurrencies issued by central banks for Absolute Financial Enslavement.
  2. Using Editable Blockchain technology along with Biometric technologies (with faster adoption of RFID chips from 2020 onwards) for creating Universal Digital Identity (UDI) to record general data of every living human being from birth to death for mass population surveillance and thus Absolute State Domination.

Fulfillment of both these goals means violation of two basic human rights i.e. Liberty and Privacy. Both these basic rights will be systematically snatched from everyone once this testing phase ends.

None of these goals will be implemented by force because the trick is to convince people that such technologies is in their own self-interest and may even deliver personal benefits. People will be brainwashed enough to demand it themselves.

The recent incident where the European Parliament approved the General Data Protection Regulation (GDPR) in April 2016, is the first move towards programming people to demand the right to be forgotten and full ownership of their user data. That is one practical feature of an editable blockchain technology only.

It is the same trap where a rat is offered a piece of cheese, before it is hunt down.

What is so bad about a Cashless Society? Doesn’t it sound so cool?

Through introduction of puppet organizations like IMF and World bank via Bretton Woods System (1st Greatest Scam) in 1945, the global elites snatched the economic autonomy from third world countries (every developing and under-developed country). It was now possible to punish or bully any nation across the globe that may not bow down to their One World Order.

Governments who dare to oppose, are socially and economically boycotted internationally, through strict economic sanctions and are defamed via mainstream media. The citizens of such oppressed countries are forced towards poverty, unemployment and civil war.

Latest examples include Iran, North Korea, Syria and now Venezuela. Not so old examples include Iraq and Libya.

IMF’s vicious policies are scripted in Washington D.C. by the richest elites and they are simple to understand: “Comply or starve to death

Now how come is IMF or World Bank related to Cashless Agenda?

Through IMF, the globalists succeeded in controlling, tracking and dictating the financial affairs of puppet governments but what they could not control, dictate or track was the economic freedom and privacy of individual citizens.

In layman terms, they can economically boycott governments but they can’t boycott an individual from his access to food, health and education.

They know how much money do you have inside your bank account but they are ignorant of your savings at home or the pennies your kids have collected inside their money box.

With cash, they can’t trace your source but with no-cash (digital currency) they can trace every single penny that you own and where you spend them.

The central banks led by IMF want to trace and control every single penny that you own and this dream can only come true when the society is forced to become cashless.

banking the unbanked - cashless india

Following are the voodoo and hoodoo of a Cashless Society:

  1. In a cashless society, tangible cash will be replaced with intangible digital cash.
  2. Everyone’s wealth will be in the control of the banks, who will work as tax collectors for governments.
  3. You will no longer have the freedom to store your wealth outside the system.
  4. Governments can impose Negative Interest Rates (NIRP) on your money. Which means, government can confiscate your wealth from bank deposits whenever they want.
  5. You will be an easy victim for all bank bail-in scenarios. You will face all loses if your bank goes bankrupt.
  6. Governments can cause inflation or deflation more easily with the saver having no ability to even react. 
  7. Your money might be set to "expire" and be worthless if not spent in specific ways or by specific times.
  8. Government can block(boycott, off-chain) you out of the cashless system or confiscate all your wealth with a click of a button.
  9. Government will be able to watch and track all your savings, income information and transaction records through a centralized transaction log a.k.a blockchain.   
  10. Your wealth will be more vulnerable to fraud, scams and hacking that could destroy your life savings in seconds. Online data breaches is already expected to reach $2.1 trillion by 2019....
  11. Governments and corporations can use data mining to create consumer profiles based on their spending patterns. Thus your eating and spending habits will be 24/7 in strict surveillance. 
  12. The aged, poor or near poor population neither have the power nor knowledge to understand this high-tech cashless system. Their insecure wealth will become easy target for hackers and cyber criminals.
  13. People will become literally helpless with no control over the wealth that they once owned.

The elites will impose this cashless agenda upon every country by giving lame excuses of reducing money laundering, tax evasion, criminal transactions etc. (note that all darknet usage of cryptocurrencies is part of this plan so that it could be used as an excuse) but the sharp criminals will always find alternative ways to carry their business.

cashless society is more vulnerable to cyber crime

The wealth of those 5% criminals is of less concern to these elites (partners in crime) as compared to the hidden life savings and spending habits of those 95% hard working people across the globe. 

Governments and central banks have already started eliminating cash in dozens of countries. Visual Capitalist calls it as the Global War on Cash.

Australia, Singapore, Venezuela, the U.S., and the European Central Bank have all eliminated (or have proposed to eliminate) high denomination notes. Other countries like France, Sweden and Greece have targeted adding restrictions on the size of cash transactions, reducing the amount of ATMs in the countryside, or limiting the amount of cash that can be held outside of the banking system. Finally, some countries have taken things a full step further – South Korea aims to eliminate paper currency in its entirety by 2020.

But right now, the “War on Cash” can’t be mentioned without invoking images of day-long lineups in India. In November 2016, Indian Prime Minister Narendra Modi demonetized 500 and 1000 rupee notes, eliminating 86% of the country’s notes overnight.

While Indians could theoretically exchange 500 and 1,000 rupee notes for higher denominations, it was only up to a limit of 4,000 rupees per person. Sums above that had to be routed through a bank account in a country where only 50% of Indians have such access.

...there have now been 112 reported deaths associated with the Indian demonetization. Some people have committed suicide, but most deaths come from elderly people waiting in bank queues for hours or days to exchange money.

What started in USA and Europe has now entered Asia. The experiment has been forcibly deployed in India overnight and it will now move towards Bangladesh, Pakistan and middle east in no time.

Those 20%-40% discounts on your credits cards during Ramadan, Christmas or Diwali is your gradual mind programming by transforming your spending habits towards a cashless medium.

They have already tested several digital currency systems like Paypal, Square, Visa, and MasterCard but they will ultimately make centralized cryptocurrencies as the primary digital currency for all day-to-day payments once its testing phase ends.

Bitcoin which is their test-dummy, is probably made in-efficient intentionally with energy intensive mining algorithms such as Proof of Work (PoW) so that when the final version of the centralized cryptocurrency is introduced, the bitcoin problems of scalability and energy cost could be used as an excuse to propose a far better solution to existing problems faced by crypto community worldwide.

Cryptocurrencies that are based on public blockchain such as Bitcoin, that is believed to be a revolutionary digital currency created by an unknown(will be exposed shortly) Jesus-like Messiah (Satoshi Nakamoto) to fight central banks, is surely a nice fairy tale but it has more cruel long-term impact on an individual’s freedom and privacy than one can possibly imagine.  

I consider all fiat & unregulated digital currencies created using public blockchain technology as a corporate scam, fraud and a white lie, controlled by crypto(hidden) players and sponsored by secret agencies and corporations(will be exposed shortly).

Not just words! We have over 60,000 words of research to prove it..

Note that I have used the word “corporate scam” rather than simply using the word “a scam” because this research article does not aim to prove bitcoin as a “pump and dump” scheme but to prove bitcoin as a corporate scam having a magnitude far bigger than that of fiat paper currencies.

Cryptocurrencies rising support by the mainstream media match the exact same pattern when the first corporate scam (paper currency) was imposed upon us back in 1945 through the Bretton Woods System (giving birth to foreign exchange market rate system, bogus convertible currencies and ultimately World Bank and IMF) and our true wealth was corrupted due to the greed and ignorance of early adopters.

Paper dollar corrupted money and Bitcoin will make it worse.

This time the early adopters are crypto-enthusiasts driven by greed worldwide but the big players/inventors are the same who corrupted the monetary system by introducing cotton & linen i.e paper as money.  

Cryptocurrencies are a speculation and just electronic scripts that can never be money, based on the facts and figures that you will discover today.

The Tactic Of Deception

The second greatest economic crisis in the history of mankind after the Great Depression of 1930s is just a few years away or it can happen anywhere between 2020-2022. This is not what we believe but economic analysts and corporate investors worldwide. Coincidently or may be intentionally made symbolic, 2021 and 2022 are also the domain expiry dates of bitcoin.org and bitcoin.com respectively.

Throughout history the elites have deceived mankind through one simple tactic of deception i.e:

Problem (Created by them)Reaction (Given by us)Solution (Offered by them)

Wisdom says that if you want to fool the fool, tell him fairy tales and he will blindly follow it. But if you want to fool the wise, bring mathematics in your discussion.

Human mind by nature favors simple calculations but resist complexity. With math, you can do wonders and fool almost the entire world just like how the Elite powers have played our Governments till today with a bogus monetary system.

This time as they know the U.S dollar is going to collapse, they are preparing to roll down the curtains for a cashless society to achieve maximum population control through a new monetary tool.

Is is the future’s One-World-Currency, Bitcoin, Fedcoin or RScoin? A straight answer would simply mean throwing mud on walls with no logics. Read it to believe it, as we unfold the darkest secrets of mankind's lust for power.

Today there are more than 1,800 cryptocurrencies available over the internet as of 25 May 2018 and growing. The total market cap of all these cryptocurrencies now mount over $340 billion USD.

Anyone can create a new cryptocurrency in less than 2 hours, you just need to apply the “Greater Fool Theory in convincing people that these worthless computer bits are as precious as gold just like how its been done today through Initial Coin Offering (ICO) crowdfunding programs.

These new cryptocurrency startups introduced every month, match the exact same pattern of e-commerce startups during the dot-com bubble period. Some did survive but most of the companies ended up worthless.

Surprisingly about 50% of all ICOs sold in 2017, failed by Feb 2018. Details will be shared in Chapter#2.

Our focus would be mainly on proving Bitcoin is scam because currently its the first and most popular cryptocurrency with highest market capitalization of $128 billion dollars. Bitcoin is currently the largest blockchain network with a strong mainstream media coverage. Bitcoin has many serious red-flags as we will unfold, than just problems of scalability, regulation and security.

Two wrongs don't make a right. This article will prove:

  1. Paper Currencies and Banks are the First Corporate Scam.
         1% owns 50% of all Word Wealth - Source
  2. Crypto Currencies and Exchanges are the Second Corporate Scam.
          1% owns 90% of all Bitcoin Wealth - Source: Chapter#2

Same script, same audience and same players. The humanity is led to financial enslavement once again through the art of deception and human greed.

Before proving bitcoin is scam, let us first discuss the interesting history of "Gold" which is loved by the poor but hated by the Elite.

Need Quick Help within 24 Hours? ASK NOW

If you don't want to get yourself into Serious Technical Trouble while editing your Blog Template then just sit back and relax and let us do the Job for you at a fairly reasonable cost. Submit your order details by Clicking Here »

32 comments

PLEASE NOTE:
We have Zero Tolerance to Spam. Chessy Comments and Comments with 'Links' will be deleted immediately upon our review.
  1. M Shocked after reading your article...

    ReplyDelete
    Replies
    1. yes it is unlike a blogger tutorial.

      The funny part. Bitcoin creator Nick Szabo blogs on Google blogger too! ;)

      Delete
    2. @admin

      Nick Szaboa is not necessarily creator of Bitcoin. He is just in a long list of people who might be Satoshi Nakamoto.

      Delete
  2. I just read the chapter one you created and to be honest it was all full of information that I already knew and was kind of boring alot.

    Most of your research contains allegations without any proof. Like the one in start "The primary aim of Bitcoin creators is to use Artificial Intelligence (AI) and Data mining" Because there is no proof of you saying this, no bitcoin company has yet started working on AI & Data Mining, Neither available in their career opening nor publicly announced. That would be another story if you have worked over there and you know the secret sauce.

    I will still wait for your chapter#2 but what you mentioned everything here is weird.

    The economy is moving to cashless. I know, that's why so many mobile wallets etc are opening even here in Pakistan. Can you do something about it? Can you stop it? Why its good & bad to have a cashless economy.

    Look brother, it's nature. Anything you see on this world has two sides. Bad & Good. Take an example of your mouth, you can either eat and talk to people or you can use foul language with people.

    Cashless economy is bad on one side and good on the other side. Bad is that you don't have real money, everything is in computer bits and you can be dumped anytime they want but at same time it stops money laundering, illegal use of money, makes everything in track etc. At same time it gives you features, hassle-free transactions.

    We both know, banking is the biggest SCAM of history but you and me still keep money in the banks KNOWING that it is scam. Because, Because, Because there is no other way or solution to send money to a guy 1000km away from you. There is no way to purchase something thats in another country. There is no way to keep your money safe in your home.

    IF you have a solution, tell me I will be the first to say NO to these scams. Infact, you are also a hardcore user than me.

    Let's accept, FIAT currency was scam, Bitcoin is scam and so on. But if FIAT is scam and you rely on it, people will also rely on "SCAM BITCOIN". Thats how everything works.

    I would accept such allegations etc from a person who dont use mobile wallet, who dont use banking, who dont use any of these scams what so ever.

    Warren Buffet considers bitcoin as scam but he doesnt consider FIAT as scam? Why, infact he got billions of it.

    I am not a die hard fan of crypto, as I am not even working in it but I work on blockchain.

    NSA can track your email etc anything they want, but they cant track your SHA-256 bit encrypted email's you can do.

    ReplyDelete
    Replies
    1. Thank you for commenting on the blog and leaving your queries here which could help everyone accessing the research read and decide for themselves who is right and who is wrong.

      Lets do a breakdown of your so many arguments and allegations one by one:
      =====================================

      "I just read the chapter one" and then you said "was kind of boring alot."

      Yes sir because you missed the remaining 90% of the research and jumped straight to your keyboard. You deserve an applause on this.

      You said: "Most of your research contains allegations without any proof."

      In the start of your comment you said you have just read Chapter#1 then how come you came to the conclusion that the remaining 12 sub-chapters that you haven't yet read are all allegations with no proof? I guess the biggest allegation is your statement itself!

      You said: "no bitcoin company has yet started working on AI & Data Mining,"

      Really? Looks like you really haven't then heard about "Ben Goertzel", the Chief scientist and CEO of SingularityNET whose decentralized blockchain network lets anyone create, share, and monetize AI services at scale.

      The blockchain protocol implemented successfully by the same elite is now used by them to study AI and they just built the world’s first decentralized AI network and you are telling me no bitcoin (crypto company) has yet started working on AI?. Brilliant!

      They have not only implemented the first decentralized AI network globally but they are taking in more test dummies on board through their cryptocurency tokens called "AGI".
      Their new bogus cryptocurrency has so far raised $62 million dollars out of peoples pockets. Please wake up!

      Sophia, the world’s most expressive robot, is first successful use case of the SingularityNET AI modules. They just build a living robot out of AI. This is their potential and you doubt these facts as allegations?

      If incase you don't know how AI and machine learning is used to do data mining then please read it on wikipedia.

      The same SingularityNET network is working behind curtains to provide a more reliable P2P solution to the bitcoin's current scalability and Proof-ofwork algorithm which I just pointed above in my research by saying:
      Bitcoin which is their test-dummy, is probably made in-efficient intentionally with energy intensive mining algorithms such as Proof of Work (PoW) so that when the final version of the centralized cryptocurrency is introduced, the bitcoin problems of scalability and energy cost could be used as an excuse to propose a far better solution to existing problems faced by crypto community worldwide.

      Now Read their post to see for yourself how the new algorithm of proof of reputation has been proposed and advertised by ridiculing the previous algorithm of proof-of-work used in bitcoin.
      See the image to understand the exact concept:
      [img src="https://cdn-images-1.medium.com/max/800/1*L8ON-4pE6bmKNWLv52RfJw.png" width="90%"][/img]

      The new protocol will be demanded by people themselves and this is exactly what they want. They intentionally made the test version weaker so to first study human behavior and then gradually roll down the curtains for the more reliable one.

      continues...

      Delete
    2. Then you said: "The economy is moving to cashless.....Can you do something about it? Can you stop it? "

      Yes I can and I am to the best of my ability and resources by writing 60,000 words of research, spending days and nights gathering information and putting it in layman style so that everyone could be educated before hand.

      The best way to fight it is awareness and educating others about its disadvantages as as I mentioned in my bullet-ed 13 points .

      Is sitting dumb and waiting for the enforced enslavement prefereable for you then taking up stand and at least raising awareness against it? I prefer the later at least.


      Then you said: "at same time it stops money laundering, illegal use of money, makes everything in track etc. At same time it gives you features, hassle-free transactions."

      You are saying the exact same thing the banking elite will use to brainwash people. This is why I have already mentioned in my article:

      The elites will impose this cashless agenda upon every country by giving lame excuses of reducing money laundering, tax evasion, criminal transactions etc. but the sharp criminals will always find alternative ways to carry their business.

      Those who do tax evasion or money laundering are not middle class people like me or you but the most powerful ruling elite of the society. They will always invent new ways to continue their crime. Who will this cashless system enslave at the end of the day, us who can't afford to escape it or the elite who can always afford to escape it?

      Please get realistic buddy. This world is more darker than the colorful gardens of Disney.

      Then you said: "IF you have a solution, tell me I will be the first to say NO to these scams."

      If you had honestly read the full research sub-chapters, you would not have raised this question. I wrote almost 4 sub-chapters from Chapter[1.1] to Chapter[1.4] emphasizing on the importance of Gold(Dinar) and Dirham(Silver) and how a monetary system backed by gold is the only solution and was the only solution for thousands of years. No one is asking you to keep gold coins in your pockets but a system backed by gold will ensure transparency and safeguard your two important assets 1. your time and 2. your energy.

      Your purchasing power is secretly leaking today thanks to this corrupt monetary system of worthless fiat currencies that are created on will including cryptocurrencies. Bitcoin has 4-5 different versions which one of it is the true digital gold according to you?

      Yes I am using banks and debit cards today because my elders did nothing when this scam was being imposed upon us back in 1945. But today I at least want to stand up against the second biggest scam of electronic currencies with a hope if it can not be stopped then at least it can be prolonged through awareness. Didn't RFID's manufacture stopped in 1990s as soon as people stood united to condemn its use??


      You said:"NSA can track your email etc anything they want, but they cant track your SHA-256 bit encrypted email's you can do."

      This is exactly what people said about SHA-1 and after almost 20 years Google found collisions in it and the world was shocked to discover you could use two inputs to create a single output in SHA-1. SHA-256 is just another lollipop given by whom, its creator the National security agency who coded it.

      Please read about Dual_EC_DRBG in Chapter[1.12] which was accepted as a so-called secure algorithm worldwide but after 7 years the world got to know thanks to NSA contractor Edward snowden that NSA bribed RSA security with over $10 million to include the algorithm which had secret back door only known to NSA. This is the 21st century reality not allegations!

      Bitcoin software helps its users to create 256-bit long private keys using the Operating System’s default pseudorandom number generator (PRNG) which works a lot similar to Dual_EC_DRBG to create a random number and you are telling that NSA (who created it) can't decrypt it??

      Delete
    3. Since you said you are working on blockchain can you tell me if the entropy generated by PRNG of your OS deterministic or Not? If yes then how are you so sure your OS provider isn't bullied by NSA to include encryption back doors by bribing such companies with over $250 million?

      I would wait for all these answers. Its easy to read 10% of a research and jump straight at keyboard calling it weird and baseless but difficult to read remaining 90% of the research and respecting the struggle for awareness.

      You may kindly reconsider your statement "it was all full of information that I already knew". Because I was taught in school to always stay and hungry for knowledge with the principle that "I know less"

      In the end I leave you with this advice:
      -----------------------------------------
      No one is more crueler than the one who attains silence to injustice by choice.

      Delete
    4. Funny no response even after a week? :)

      It is easy to raise baseless allegations but difficult to digest truth.

      Delete
  3. MashaAllah. Good work. I am an undergraduate student, interested in reading all your research. Started reading this blog yesterday, found some difficult vocabularies, which I have to them google separately. Do add a separate vocabulary section, if possible. I hope you will take this positive.

    ReplyDelete
    Replies
    1. I am so glad you liked it Yumna.
      Since the subject matter is such technical, I tried my best to make it as simple as possible in layman terms.

      I will surely try to make it even easier in coming upgrades.

      Delete
  4. میں ایک کروڑ سیلوٹ بھی ماروں محمّد مصطفیٰ احمد زئی کو تو کم ہے ، مجھے یقین نہیں تھا کہ دنیا میں کوئی شخص ایسا بھی ہوگا جو اس بٹ کوئین کی دھججیا اڑا دیگا ، اس فراڈ نظام کو چیلنج کرے گا ، مجھے اتنا آئیڈیا نہیں تھا( بٹ کوئین) اسکے بارے میں مگر پورا آرٹیکل پڑھ کر دماغ کے چودہ طبق روشن ہوگئے ہیں. اپنی کتاب کو انگریزی کے علاوہ اردو زبان میں بھی چھپوانا اور اس میں اسلامک بلینڈ بھی شامل کرنا .

    ReplyDelete
    Replies
    1. Sarwan your comment made my day and literally means a lot.
      It is because of you people who give us the courage to keep working harder.
      Thank you a lot dear Sarwan and I will surely keep your advice in mind.
      I have contacted some people to translate it in Urdu, lets hope I live up to it.
      God bless you man :)

      Delete
  5. U really unveil the Bitcoin scam which surely is enculcating in our society.

    ReplyDelete
    Replies
    1. I am thankful. Thank you. Chapter#2 is much more detailed and have over 29 chapters and 47+ reasons to prove bitcoin as scam and fraud.

      Hope you will like it too.

      Delete
  6. Hello bro mustafa,

    Great work! I don't know much about how cryptocurrency works or anything about Bitcoin for that matter, all I knew that it was a digital currency, still I always suspected it wasn't a legti and also some muftis gave a fatwa against it, so this article really proved to be an eye opener for me
    Since I am a bloggger myself, recently I have been thinking alot of AdSense is permissible in Islam or not and if showing women pictures in your blog post are also against Islam, let me know what's your take on that.

    ReplyDelete
    Replies
    1. I am so glad Saima, this research was helpful to explain the Bitcoin saga in plain simple terms to you. I am sure you will enjoy Chapter#2 even more which will take you on a journey of 47+ reasons with over 29 Chapters to technically prove bitcoin as the greatest scam and fraud in history.


      About AdSense, as long as you have disabled the adult category and gambling/casino categories using your Google AdSense account, you are good to go.

      And then it would be halal to make a living from displaying ads.

      Since we can't control every ad on our page, you are thus not accountable a lot as long as you have played your part by disabling adult category ads.

      Women pictures are fine as long as they are not explicit.

      Delete
  7. The secrecy around the founder of the bitcoin had made my mind repeatedly think that something is not right. Then the act of people measuring worth of a bitcoin in terms of paper currency dollar also made me think that something is not right.

    But from these paragraphs I've now clearly understood what is wrong:

    "In layman terms, they can economically boycott governments but they can’t boycott an individual from his access to food, health and education.

    They know how much money do you have inside your bank account but they are ignorant of your savings at home or the pennies your kids have collected inside their money box."

    Thank you for this wonderful article.

    ReplyDelete
    Replies
    1. Thank you Adil for taking out time and thoroughly reading the first chapter. Indeed the billion dollar investment on crypto-startups is not done to help us buy "popcorn" online but it's aimed at snatching the our two important assets i.e. liberty and privacy.

      I am hopeful you will enjoy Chapter#2 even more. Thank you for your kind comment. It means a lot. :)

      Delete
  8. gr8 research mustafa bhai mashallah good work
    really appreciate the effort u have put
    well a must read for everyone i must say.
    jazakallah again

    ReplyDelete
    Replies
    1. Thank you dear Musab for the kind feedback. I am so glad you liked it. Chapter#2 Is even more interesting. Stay tuned

      Delete
  9. Hi brother,

    I read your article on the same day but just now I had time to replay. I pretty much agree with what you said. I would like to suggest the book The History of Money by Jack Weatherford. In short, we can’t walk around with pockets full of old, and paper money came to put an end to it. It’s not a great idea to walk full of paper money either, so we created check, debit card, etc. As soon as I understood the history of money, I started thinking about the future of money. The world is richer than never before, we are finally ready for the next step, which is to abolish paper money.

    Contrary to what you may think, I’m not a Christian. I’m a theologian and study all sorts of religion. My blog is about Christian theology because that’s the main topic when comes to religion here in Brazil.

    In daily life, I like to use the Bible as a wise literature. There is a bible text where Jesus said: “Lay not up for yourselves treasures upon the earth, where moth and rust consume, and where thieves break through and steal. but lay up for yourselves treasures in heaven, where neither moth nor rust doth consume, and where thieves do not break through nor steal.” (Matthew 6:19-20)

    I bring this text up just as a metaphor. Perishable money will always be a bad idea. People can rob, falsify, embezzle, wash, etc. We can do away with this problem if we store up some kind of unperishable money (like the treasures in heaven), like digital money we are discussing.

    Brazil is passing through a very hard time and this is one of the reasons I’m moving from here. Corruption everywhere. We can’t track physical money, so corrupt politicians here take money in cash and hide. One of them bought and entire apartment just to store up his dirty money.

    If you’ve got a kind of money that can be tracked down, this can walk side by side to global enrichment. Imagine if all the knowledge today were still in paper… as things go bigger, we need to create intangible ways to accommodate it.

    The problem with Bitcoin and others, I would say, is much more related to the morality behind it than the idea of it per si.
    The Civil Law in Brazil is incredibly beautiful, amazing, but why we don’t see it working? Because people in power is corrupt. People are crazy about money, sick for it, seek desperately for it… it is a greed beyond imagination.

    One of those days I saw very rich people eating chicken with powdery GOLD, can you believe that?

    So, for me, it doesn’t matter the idea, the plans, the law… even if God himself came down from heaven and gave us a perfect monetary law, we wouldn’t live safely because of people’s corruption.

    All the wealthy in the world if centered with a group of 1% of the population. Who has nothing wants something, who has something wants something else and the only ones who have this something else, want it all. We start from nothing to everything and this desire never ends. It is like salty water, the more you drink thirstier you get.

    It’s a sickness. There is another bible text which says: “For the love of money is a root of all kinds of evil.” (1 Tim. 6:10)
    I pretty much agree with that. The problem is not money, physical or intangible money. The problem is the love for it.
    So, when you see banks, entrepreneurs, governments creating such a thing as Bitcoin, I never imagine there is a loving purpose behind. The idea will always be in favor of the richer ones.

    What can we do? Well, I keep thinking about what would happen if the 99% of the non-rich gather together against them. So in this case, religion steps in. If you take into account the percentage of people believing in a higher power, you’ll get around 98%. All main religions have the same idea about greed and stuff like that.

    We need to wake up, help other to do the same and go against this 1%. On the bright side, we are the majority and the majority always wins. In this case we’re losing because we are so busy running after their money that we postpone it or don’t even care.


    Anyways, great article!

    ReplyDelete
    Replies
    1. Hi Eduardo,

      I read your comment on my blog and trust me this is the exact thinking I have. A digital currency can only benefit the society if the system is brought up and controlled by the honest of the society but since the 1% of the corrupt will always lead and win, no monetary system will ever help us go corruption free because of the greed of the human mind.

      Delete
    2. Eduardo email reply 1/2
      =====================
      "Thanks man, that’s exactly what I wanted to say. I wanted to give a full answer with quotes but time is always short.

      But that’s the point: Good people using a flaw system is always better than bad people using a perfect one.

      You have likely heard of Freud. He treated the symptoms but never managed to treat the cause. So the problem kept coming back. We have to eliminate the source of evil. Cutting the branches of a corrupt tree will never cease the problem. You have to pluck up by the roots so that it won’t grow again… ever!

      See, most people usually say that don’t care about what you believe, they can about what you do, but they don’t realize that what we do is always based on what we believe. Thoughts precede actions. It’s a mere reflection of it.

      Christians believe the Bible is the perfect Word of God but there has never been a perfect Christian country where everything went fine.

      Muslins believe the Koran is the perfect Law of God, but as far as I know there has never been a perfect Muslim country where everything went perfectly.

      Then we have Switzerland considered to be a godless country. No perfect law of God in there and yet it has always been a model of equality, peace, quality of life and freedom.

      There is an amazing book called The Path to Switzerland which shows what other countries can do to get “switzerlanded”.

      You know, I ain’t preaching a godless country… not at all! What I mean is that, even if God himself manifested a perfect monetary law, this is NOT a guarantee of anything because of human nature.

      Now since we moved on from the main problem, which is the human greed and corrupt heart, let’s now be realistic:

      The world is divided between rich and non-rich. I won’t be a dreamer like Karl Marx and believe that one day non-rich will overrule the rich ones. I won’t vounch for it but the probability is very low or non-existent.

      We are all stuck in the wheel. To use a Buddhist terminology, this is our “karma”. We need their money they need our labor. One form to break the chain is the entrepreneurship made possible in the digital age. Once again, digital age.

      I am my own boss. You are your own boss and there is space for everyone in between. Now that you took control of your income, you can have a voice and decide freely which way to go. Thanks to digital age!

      I personally scream to the top of my lugs to everyone I know: “embrace and live your entrepreneurship or die being a slave”. But let’s be honest brother, 90% of people are NOT that smart, sad to say.

      I can only speak for my country but by what I have seen so far, people are so worried about the wheel of need that they just don’t care. Plain and simple.

      Delete
    3. Eduardo email reply 2/2
      ===========================

      "
      True example: A car manufactured in my country is sent to a far away country (exportation) and getting there, it is almost 3 times cheaper than if I wanted to buy it here, in my own country. Why does it happen? Lots of reasons, but one of them is that because people just don’t care, they don’t wanna know why is so expensive they wanna know if they can pay the installments.

      So even if you prove 2+2= 4 that digital currency is a scam (I don’t doubt at all) I’m sure you are smart enough to know where this will all end. Banks have always been the worst scam in the world, before you and me and also our ancestors had any idea of existence. Banks have always ripped people off in their faces and here we are.

      As I said, we are heading to a digital world with digital reality and so forth. Smarter we became, paper was no longer enough to record human knowledge and now we have all stored up in digital format. The richer the world becomes (a poor person in Europe today would be considered rich in the Roman Empire, for example), the more scarce material stuff (gold, plate, money) will get.

      If we’d share all the gold in the world, everyone would have a small lump. So we started using paper and the next step will be digital, there’s no wayout.

      In the Netflix serie Altered Carbon, in a very far away human society, a regular person has billions in the “bank”. Now imagine everyone of them with all the money in paper format. You’d have to cut all trees in the world to make that possible. So, in the serie, the money is digital, like credit card because it is impossible to accommodate all this money physically.

      I feel deeply sorry because I know that people behind it is evil and greedy. Shakespeare said in Romeo and Juliet: Act 2, Scene 6: “These violent delights have violent ends. And in their triumph die, like fire and powder”.

      I don’t believe the real mentors in this scam are going to get rid of gold. I can’t imagine two billionaires arguing: “look at this fake digital numbers I’m richer than you!” EUA and Chine are fighting for the last gold resources in the world. Maybe digital currency will be supported by gold, who knows…

      Evil will never win because evil is self-destructive. I believe God is in control, brother. We must do the possible and let the impossible be done by Him."

      Delete
    4. Eduardo, you have shared some extremely useful insights to this entire research that will surely help all those reading you. I agree to almost every point that you mentioned and I loved the way you quoted example of Switzerland and especially the Shakespeare example of fire and powder.

      I would agree to this line and draw all focus to it when you said:

      "If we’d share all the gold in the world, everyone would have a small lump. So we started using paper and the next step will be digital, there’s no wayout."

      I would like to elaborate it further. How do you weigh something? Of course you weigh it against a standard so that there remains no doubt of corruption or injustice. When you buy 1 kg of rice, you weigh the rice against a metallic weight of 1 kg used as standard by the retailer. Same is the case with a monetary system backed by audited gold reserves. In a gold standard, civilians, do not carry gold coins in pockets because that would be impracticable. We live in 21st century and human civilization evolves over time. Which is just perfect. Everything must change but not the standard of monetary system that has survived over five thousand years as the perfect store of value and by that I mean precious metals such as Gold and Silver.

      Be that paper or digital currency, this system will always be misused by the ruling elite, if we have no weighing system present that could ensure that the money in circulation is not manipulated or counterfeited as its easy done with both paper and digital currencies since they are backed by nothing but trust in thin air.

      Evil does only survive when good people, stay quite to injustice. The reason why I have raised a voice against unregulated and fiat digital currencies like Bitcoin is because as a computer programmer I know how easy it is to manipulate the system and sell worthless bits as digital gold to non-techy investors.

      It is so easy to manipulate that I mentioned in Chapter#2 (Bitcoin Is Scam and Fraud) that by just using trading bots the price of BTC was artificially increased from $150 to $1,000 in 2013!

      In 2017, even worse happened, using cross-trading of bitcoins using a third cryptocurrency called Tether, BTC prices were artificially increased from $6,000 to $20,000! Can there be any greater scam than this?

      I am extremely practical man and I believe in power of knowledge. As a common men, we can do nothing but educate the layman about the pros and cons of any monetary scam that is beyond their understanding. I am the biggest advocate of blockchain technology as you might have noticed in the research above but I strongly oppose the black mafia or group of extremely greedy people behind Bitcoin who are using this productive technology to make their wildest dreams come true instead of using it for the welfare of the society.

      In the end you summarized it quite well that Evil is Self-destructive and it will always be the ultimate looser. All that we can do is to support a technology as long as it benefits the common man and oppose it when its strings are attached to the mask bearer (rich ruling elite i.e. The Bankers).

      Delete
    5. You said: “Be that paper or digital currency, this system will always be misused by the ruling elite, if we have no weighing system present that could ensure that the money in circulation is not manipulated or counterfeited as its easy done with both paper and digital currencies since they are backed by nothing but trust in thin air.”

      I said: “I don’t believe the real mentors in this scam are going to get rid of gold. I can’t imagine two billionaires arguing: “look at this fake digital numbers I’m richer than you!” EUA and China are fighting for the last gold resources in the world. Maybe digital currency will be supported by gold, who knows…”

      As I said, whatever monetary system used here further I guess it must be based on something of true value. Can you imagine true rich people getting rid of gold in exchange of digital numbers? I can’t. So, I’m leaning to what China is doing. (China and Digital Currency) They are buying sources of gold around the globe and once they get the “real thing” they now can back up the “intangible thing” which is digital currency. I’ve got some friends living in China and they almost don’t use paper money anymore… everything is made through apps. Your cellphone reads the code and pay directly through your bank account. China government says “stay away from digital currency” but they are using digital currency as I said, chinese people almost don’t touch paper money. China doesn’t trust other’s digital currency but use their own because they trust their own people and their rulers.

      I personally almost don't use paper money. I do everything through internet banking and debit card. As you know I live in Brazil and it is very close to Venezuela. They’re fleeing to Brazil because of what the country is going through right now.

      President Maduro created Petro, a digital currency based on diamond, petrol and gold. (Venezuela and Digital Currency) They are rich in commodities even though they are considered a poor country. This is the only way to get rid of the situation. USA and EU (subservient to EUA) is forbidding everyone to accept it, calling it a scam, because they want the world be ruled by dollar.

      Paper has no real value at all. The same paper that is used to print US$ 100, 00 is used to print US$ 1,00. Paper money was created by trust. Gold is not based on trust because it has intrinsic value. So as long as digital currency is created based on intrinsic valuable stuff, like gold, for instance, and used by wholeheartedly devout and honest people whom we can truly trust, I see no problem and I guess it is inevitable.

      Let’s say you created a digital currency based on your source of gold. Since I trust you and trust gold, how could it go badly?

      One day, gold sources will be over, but our richness will keep growing. What are we going to do? So movies, like In Time (2011), portray a society where digital currency is based on your life-time, your life-span, which is the most valuable thing you have… your life.

      Jesus said: “what will it benefit a person if he gains the whole world but forfeits his life?” (Mark 8:36)

      It doesn’t matter how much money and gold and petrol and stuff you have. If you lose your life you cannot use these things. So, your TIME one earth is the most valuable thing you have. So, in the movie, it is impossible to falsify this money because you can’t falsify the nature of your life-span, life time.

      You’re making an incredible job, Mohammed. I hope more people can read your research and be on guard. To sum it up, I would trust digital currency (everybody does when we use credit card and internet banking) as long as is based on something of true value and created by people of a true heart.

      Delete
  10. Usually, I never comment on blogs but your article is so convincing that I never stop myself to say something about it. You’re doing a great job Man. Best article I have ever read

    Keep it up!

    ReplyDelete
    Replies
    1. Thank you Jagbir. Feedback from serious people like you is all that matters in the end of the day. I am humbled.

      Delete
  11. Most helpfull article thanks for sharing

    ReplyDelete
  12. The best sentence of the article is this one: "Bitcoin was not created to be an investment at all".

    It is a pure scam...

    ReplyDelete
  13. you have explained it wonderfully brother.

    ReplyDelete