from The Daily Coin:
Another bitcoin expert, Peter van Velckenberg, spills the beans and perfectly describes the “decentralized” “private” aspect of owning bitcoin, or any other cryptocurrency that lives on a blockchain, and uses said cryptocurrency to conduct any transaction via blockchain technology. Remember, it’s all about blockchain technology.
Now the non-traceable is the other aspect I wanted to address. We talked about the fundamental innovation as to how this thing (bitcoin) works. It works because there’s a ledger. Not only is that ledger traceable, with perfect fidelity, and there’s only one version of it; not a bunch of records kept by five different international correspondent banks that don’t record beneficial ownership of shell companies that open accounts. There’s one ledger it’s called the blockchain. If you know that someone received a payment at an address on that blockchain you see with perfect fidelity every transaction into and out of that address and this is exactly the type of technological tool that law enforcement has used to apprehend the people that have used these networks for bad purposes. Ross Ulbrecht, the guy that created the Silk Road he was caught with his laptop in front of him. They opened it up, they found the public address where he was receiving payments from the Silk Road drug market and that’s unimpeachable evidence that he benefited from every single atomistic transaction for drugs or heroin that happened on that website.
There is nothing more that needs to be added to this information except – if you think for one second that your blockchain transactions are private, decentralized and untraceable please re-read the above or listen to the words coming out of Peter’s mouth in the video below. We have been warning people for months and months to stay away from this NSA/MIT created nightmare and if you want private, decentralized money and a store of wealth then you should acquire gold, silver or diamonds. You can always use your favorite wholesaler, but there would be a record of that transaction – but, you could store your physical gold/silver/diamonds off shore in a gold/silver safe region. If you want true decentralized, privacy acquire gold, silver and/or diamonds with cash conducted with another person face-to-face. Remember handshakes? Well, those are 100% decentralized and untraceable. Blockchain transactions, no so much.
Gold and silver have been stores of wealth for multiple millenniums. NO cryptocurrency can even say multiple decades, much less any real time line. Just know that most of the people reading this article are 5+ times older than bitcoin! If a person acquires real money or real stores of wealth from an off grid location well, what happens off grid, stays off grid, unlike “every single atomistic transaction” conducted on a blockchain which carries “perfect fidelity” traced right back to you, your phone, your laptop, your zip drive, your stick drive or whatever you happen to have your wallet stored upon. If you keep the address in your head, well, good luck with that as those cryptocurrencies will be lost forever. We are not advocating that anyone break the law or do anything that is illegal what a person does with their cash should be their business and their business alone. Governments and banks want to make every transaction their business and not yours. Governments and banks want to dictate who, what, how much, when, where and with whom we conduct business. Cash, gold, silver, diamonds allow people to conduct business privately. Online transactions, especially transactions, according to Peter van Vecklenberg, conducted on a blockchain, do not.
Peter Schiff does a great job of defending his position. The panel members continually cut him off but that’s okay, because Peter V., the bitcoin guy, makes a great assistant to Peter Schiff and doesn’t even realize what he is doing.