Bitcoin versus Banks

The understanding of a vitual method of payment is complex and somewhat elusive to the layman. So let us escort you round the Rich Man’s Money.
What is a Bitcoin?

The Bitcoin is not tangible it does not exist in a physical form such as coins and notes. Its creator Satoshi Nakamoto, perhaps a pseudonym for a man a woman, a band of programmers: has born their offspring and named it Bitcoin. Could this offspring unite the residents of the world in the hope of a more equal economic society?

Bitcoins are secluded by cryptographic codes; it permits users to transact directly with one another. Peer to peer. This is unlike the third party involved in the banking system as we know it to be today. This intangible money may go as far as biometric authentication or is this too similar to government interference? However, that would give demise to their cryptographically signed transactions.

This virtual exchange is a de-centralised electronic virtual currency for the people by the people and can be used to pay your By de-centralised I mean it is not controlled or interfered with by governments, central banks, big organisations the FED or the Treasury. There is no middle man to escort you through the system and therefore transaction fees are minuscule and I mean minuscule. But let’s do the comparison. So, for example, should you wish to transfer a £1,000 to in England to a friend in Paris France, and you do this via bitcoins it will cost you as little as 50pence, if that. Now do it through the system you are currently using which has to go through the London Escorts of the banking system. The banks will charge a percentage of what you are sending then add on their bank fees.

Should you choose to use the method offered by Paypal and you are a merchant in Manchester or indeed anywhere in the world accepting a transaction of £1,000 you will be charged £30 approximately plus the fee to be a merchant using the PayPal system. Lest we forget the buyer has their fees also to use the PayPal system. The financial organisations make money both ways! So choosing this virtual exchange is a no brainer.

This method of payment is a proletarian dream. Now that’s what you call Democracy. You could say democracy has its heart beating in the virtual currency.

The United States and China are in fact somewhat disgruntled at this No. 1 virtual transaction. Do they see it as a threat to their own economy eventually? Not only would the banking system lose billions in transactions fees, but the technocrats, governments and financial institutions will lose so much more. They lose control of where and whom the transactions are going to. Can you imagine the entire global bonus’s of the bankers coming back into the system to be share amongst those who generated it in the first place? Yes! Us!

The Central Bank of China and its Ministries has told financial companies in China not to process virtual currencies. China is the world’s biggest market for this new method of money transaction by volume and its users cannot fund their trading with China’s national currency the Yuan. It has been forbidden!

One of the first Western agencies who are this moment in time considering the economic demise of their continent in the growth of the virtual method is the European Central Bank. The white paper of 2012 has suggested the central banks would have to guard against losing control of the monetary system. Could this suggest the implications that virtual currencies could become a global currency? Would it be catastrophic to the western world and therefore the rest of the globe?

Ben Bernanke who was Chairman of the US Federal Reserve and other US politicians acknowledged the rising interest in this new money transaction and “When the dollar is in trouble, it will be one of the alternatives, and the more Bitcoins are used, the worse it will be for the US dollar.” And may I add, as the author of this little piece the financial power and all it brings to the Exclusive Company of the United States of America.

Now is not this a verbal sign of worry from the politicians of the USA, China and Europe? The penny has dropped for the likes of the financially elite (sorry about the pun). The wealth which is propagated by government and financial intuitions and is paid to bankers stockbrokers and the like in colossal salaries and bonuses from the working people will actually stay with the working people and that means us the general public.

Not to add more insult to injury but may I inform my reader that Bitcoin is not subjected to inflation. There can only ever be twenty-one million bitcoins in the system and this cannot increase as the equation which is built into the algorithm forbids it to do so. No matter what the Hackers say. This therefore makes the bitcoin a much predictable currency. The bitcoin is an open source, meaning it is open to the entire world to view its trading unlike the monetary system we have come accustom to.

With new users everyday it can only get stronger. Once countries such as the USA, the EU and China understand a virtual electronic currency, such as Bitcoin cannot be controlled by any organisation anywhere in the world it will bring a revolution to the financial system. This in turn will endorse a much fairer financial system to the haves and have nots of this world. The gap between the rich and the poor will inevitably shrink. Is this what they call a democracy?

Obtaining bitcoins is not too difficult. You can either Mine for it, become a merchant or open an account with a virtual wallet to buy and spend as you wish anywhere in the world. Does that includes escorts agencies alongside all other services offered from business owners? Yes most certainly so. And should you be in the vicinity of this sexy city of Manchester please contact Exclusive Company Manchester Escorts and lets enjoy the exchanges of this elite currency. By choosing it you will pay at a fraction of the cost compared to using any of the old fashioned methods which are still in use today.

Do you need to ask the question again “What are Bitcoins?” I hope not!

In researching this fascinating subject, of which I knew absolutely nothing about and I mean nothing, I have lost a whole weekend from Friday day to Sunday evening at 11.15pm. I am finacially richer and it was worth taking the time to line my pockets rather than the institutions of the Banking system and its Cronies.