Anibal Jose Baez
<<Joel Kinmond: And, is there a way for me to access the credit and or use it as a medium of exchange - short of selling it - which I would not even consider, because it isn't "MINE"
Scott Duncan: NO. Stop trying to access credit that has nothing to do with you.>>
<<Scott Duncan: Bitcoin is CURRENCY. Nothing more. The BANK part is YOU.
Someone: So...... Once corporation is established and we create credits. People who need credits purchase our credits they Benefit from credits. We keep filling the atm up and eventuality the monetary system reaches a point where bitcoin has got them running?
Scott Duncan: No we keep that money (It's the GOOD stuff! Money of exchange!), only send the INTEREST back to Canada. Putting money back into circulation, gives the Canadians money they can earn to pay THEIR interest.
It will allow economic growth for an extra 30 years, and kill the banks in the process.
Someone: So that's the big deal..... That is one big benefit of sovereignty. The ability to create credit. Wow! Its good to be the King!
Scott Duncan: Yes...SO BE A FUCKING KING! Study BITCOIN MINING. Collectively the "individual" banks MINE in a cluster. Coins harvested get distributed evenly throughout. EVERYONE gets a piece of the loot. Money grows by sitting there and it is like "interest" but at 6 or 7 percent.>>
<<Scott Duncan: Watch "Money As Debt III" and stop trying to DESTROY debt, just move it elsewhere. You want your paid debt to become MONEY OF EXCHANGE.
YOU "create" money and it is endorsed by the bank, who will act as currency exchange. One mortgage/loan exists. That's where the money comes from...no surprise there. Where does the INTEREST come from? If you make YOUR bank deposit to your bank's accounts and you instead MOVE the payment into BITCOIN or another currency of exchange, that "paid" money goes BACK INTO the free market. YOU don't profit EVERYONE ELSE DOES. Get it?
You remove control of the money supply from the banks. People will still pay interest, but that interest gets returned to the "spendable" market. Taxes would be paid by people who get loans from YOU, if you ran a republic... or a trust... with people you trust... which form a community... >>
<<Scott Duncan: When you understand what money is, you can construct money through VALUE.
If it exists in the real world, it has VALUE. Any currency used to track that VALUE, when exchanging goods, is MONEY OF EXCHANGE.
Bitcoin, on the other hand, does not exist in the real world. Only its mysterious creators have any COPYHOLD on the VALUE. That's the thing about Bitcoin - in the end the guys that created it, get all the money. They get this because people volunteer to take alpha-test-grade, proof-of-concept code, and open their computers up to the Internet. They then give hardware-level access to their memory, processor, GPU and hard drive, to a rogue, autonomous process that their empty, little heads couldn't even dream of understanding, with no one paying attention to its original intent -- which is to prove that it could be done.
Don't get me wrong, there are people who are doing this on purpose, because the VALUE is returned almost immediately. For Bitcoin has all the properties of gold, without the liabilities. Bitcoin is but one cryptographic currency. AQUILAE has its own cryptographic currency. It cannot be counterfeited, and is a near-perfect accounting mechanism. AQUILAE is not even a PERSON, it's a TRUST. If a TRUST can have a currency, why can't you? What I am building for everyone here, is a method to remove the middle-man. If you have your own currency, you don't need a bank. If cryptographic currencies can't be counterfeited, then it's trade cannot be regulated. It remains within the private realm and the ease at which you can convert your currency to MONEY OF EXCHANGE anywhere in the world, is directly proportional to your VALUE. In the current economic framework, backed by debt-based FIAT currency, the only legitimate path to wealth is to produce, to make something in the real world that didn't exist before. >>