B I T C O I N

THE MONEY REVOLUTION

A Private Currency For a Free Society
By David MacGregor
Copyright - SovereignLife.com - All Rights Reserved
Bitcoin: The Money Revolution - Page 1
Anonymous digital cash. The peoples money. True private banking. Real nancial
privacy. Worlds rst crypto-currency. The ultimate offshore bank account. True
global money. Peer-to-peer transactions. No company control. No government
control. No central bank. No ination. No corruption. No manipulation. Instant
account opening. No ID or name required. Available to anyone from any country.
No background credit checks. No references required. A debt-free money for free
people. A monetary game-changer. Digital asset protection. Solid Ination hedge.
Encrypted security. Easy to use. Open source development. Instant transactions from
your computer or smart phone. Download apps for iOS and Android devices.
Capital appreciation assured. Private income opportunities. Buy and sell privately.
Virtual reserve currency. Private Investment potential. Easy merchant account setup.
No charge-backs. Instant payments. Business-friendly. Global commerce. No Fees.
Freedom
The Evolution of Money
Money is nothing more than a means of exchange. In pre-monetary societies there was
barter - the direct exchange of goods and services between people. Barter gave way to
various forms of commodity money - objects that most people wanted and were willing to
exchange for their goods and services. And as a result, all sorts of things have functioned as
money during its long history, including salt and tobacco.
Money evolved over time and gravitated to the most suitable form, silver and gold. These two
commodities naturally arose in the marketplace as ideal forms of money because they had
the required attributes - that it must be durable, divisible, convenient, consistent, have
perceived value, limited supply, and be widely accepted.
Later in the evolution of money people deposited their gold and silver in banks, in exchange
for paper receipts which were negotiable - meaning they could be used as money. This paper
money was acceptable because it was in effect backed by gold or silver.
Even later in monetary evolution, bankers noticed that not everyone wanted their gold and
silver back at the same time, and realised they could make loans in excess of the gold and
silver on deposit, and earn interest on them. And so fractional reserve banking was born.
The most recent stage of monetary evolution was when governments granted central banks
the authority to issue paper money, or legal tender, with no gold or silver backing at all. This
type of money is often termed at money, or money by decree.
Of course, even this form of paper money works as a means of exchange, provided people
accept and trust it. Trouble is, the nature of at paper money is such that it can easily be
manipulated and devalued by those issuing it, simply by expanding the supply. This
mechanism has provided governments with a virtually unlimited supply of money with
which to bribe their way into power, stay in power, and generally act irresponsibly.
Before the invention of limitless at money, a King was severely constrained as to his options.
For example, if he wanted to go to war with another country he would need enough gold on
hand. Soldiers had to be paid and armaments purchased, and if the treasury was empty, then
war was not an option. But in latter days, the new kings- democratic governments - have
been able to borrow whatever they like, for whatever purposes they deem necessary.
Trouble is, this uncontrolled money creation and abuse has brought us to where we are today
- indebted to the point of no return. You see, all money enters the economy as a debt, so
constant borrowing and monetary expansion can only lead to more and more debt.
Our debt-based money system has nally run its course, and is no longer capable of meeting
the legitimate needs of people, if it ever did. Fact is, we are literally being destroyed by debt.
Bitcoin: The Money Revolution - Page 2
The Game Changer
What most people dont understand is the monetary system is incapable of correcting itself.
We have accumulated debt upon debt, until we are being buried under mountains of it. This
is exactly what is happening now in Europe, where national debts cannot be paid off and the
only apparent option is a constant diet of austerity along with debt renancing. And what is
happening there is only a foretaste of what will happen across the developed world.
This whole economic mess has been caused by one irrefutable fact, that we have been
hoodwinked into allowing a particular class of people - bankers, in cahoots with politicians -
to issue our money as debt. This debt-money is created out of nothing and lent into existence
at interest. What better way to build a fortune and control the world?
The founder of the famous Rothschild banking dynasty, Mayer Amschel Rothschild, knew
what he was talking about when he said: Give me control of a nations money and I care
not who makes its laws. That says it all really.
To reverse this cycle of debt, economic depression, poverty and enslavement, it is necessary
to come to grips with the primary cause - the very debt-based money system we have all
grown up with, and accept without question. But the times are changing. People are waking
up, and the internet is enabling the rapid transmission of knowledge and information.
Add to this the fact people are suffering, economies are imploding, unemployment is rising,
wealth is being destroyed - and you have a social reality that is ripe for fundamental change -
revolution even. And the one thing that could literally change everything, would be to
challenge the money system itself and discover a way out of the debt trap and consequent
enslavement to our money masters.
There are essentially two types of people in this world: those who simply want to be left
alone to manage their own affairs and get along with people as best they can, and those who
want to control others and boss them about.
What most people dont realise is that control over money is the perfect means of control
over people, especially when the money system itself has been designed to that end. So its
necessary to understand that to really be free, we need to be free of the debt-based money
system that oppresses us.
This is where Bitcoin comes in. Its the worlds rst digital, debt-free crypto-currency - a
money system with no corporate head ofce, no bankers, no government shenanigans, no
central bank, no boss, no branches, no restrictions - and no limits.
To understand the revolutionary nature of Bitcoin, its necessary to look at what it is, how it
can be used, and how you can literally free up your life by making use of it.
Bitcoin: The Money Revolution - Page 3
The rst thing to understand about Bitcoin is that it comes into existence without debt. It is in
fact a debt-free currency.
So how is it created and how does it come into circulation? This is done through a process
called mining, where individuals all over the world can participate by hooking up their
computers to the network which enables the Bitcoin system to process and verify all the
transactions. By contributing this processing power, miners are rewarded with Bitcoins.
The second thing to understand is that there is a strictly limited supply, with no more than 21
million Bitcoins (or BTC) in existence. And in case youre wondering how this works, they are
divisible to 8 decimal places, meaning you can have 1 BTC or 0.1, or 0.001, or 0.0001 BTC,
and so on. As the Bitcoin economy grows, and because the supply is limited, the effective
unit of account simply gets smaller to accommodate the increased economic activity.
Bitcoin, contrary to the inationary at paper money we are used to, is by comparison
deationary. What does that mean? Think of it this way: as economic activity and wealth
increases the actual price of stuff when quoted in BTC will decline. This is not something to
worry about, but rather to celebrate. For just as we are used to high-tech items getting
cheaper each year (just think how much computers used to cost!), it is entirely realistic to
expect prices to drop across the board, provided economic progress continues.
The Bitcoins in your wallet will actually rise in value, and buy more stuff in the future. This
has the effect of encouraging people to save (without the need for interest payments) because
a year from now, Bitcoins will likely buy more than today. In other words, it encourages
capital formation. And thats a thought well return to later in this report.
The third thing to understand is that Bitcoin runs on a peer-to-peer network of computers,
which collaborate with each other to process and verify all transactions being conducted
by the system. Unlike traditional banking, there are no clearing houses, no banks, no central
authority - nothing in fact. The whole system is decentralised and distributed.
Opening an account does not require you to prove who you are, provide ID or a Social
Security number, supply references, or disclose your nancial information. You can
immediately become part of the Bitcoin economy simply by making a decision to do so.
There are many different ways to get started, and these will be discussed in greater detail in
the next part of this report. Sufce to say, its as simple as downloading the Bitcoin wallet -
which resides on your computer or smartphone - purchasing some BTC and joining in the
fun and freedom.
There is a wealth of information on Bitcoin out there, so I have no intention of repeating it
verbatim here. Rather, I will use the rest of this report to point you in the right direction by
providing links that will answer every possible question, and hopefully get you motivated.
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Getting Started With Bitcoin
For a quick overview of the concept, watch this short video.
A good place to start is Bitcoin.org - where you can also download a range of BTC desktop
wallets. Your wallet is where you store, send and receive Bitcoins, and operates like your own
private bank account. You have a number of choices regarding the type of wallet you use,
including Bitcoin-QT, MultiBit, Armory, Electrum and Bitcoin Wallet. You will nd them all
on the software download page at Bitcoin.org
Bitcoin-QT is the original software wallet as written by developer Satoshi Nakamoto. But be
aware, it downloads the full block chain and can take hours to set up. So you may prefer
using one of the simpler options when rst getting started. These include both desktop wallets
like MultiBit and Electrum, as well as web-based wallet services like EasyWallet and
Blockchain. I recommend Blockchain as a secure web-based service and Electrum as a quick
and easy desktop wallet. Both of these are secure, well-tested, and will serve you well.
Once you have your wallet set up, your next move is to fund it by purchasing some Bitcoins.
And you have many options for doing so. These range from buying them with cash from a
local vendor, trading them for various alternatives, or using an exchange service to transfer
funds in, then purchase your Bitcoins as required. This is what I did myself, using Mt Gox
which is perhaps the best-known exchange service.
Mt Gox provides a marketplace and trading platform for the buying and selling of Bitcoins.
You can fund your Mt Gox account in a number of different ways, and once funded you can
purchase the number of Bitcoins you want. Once you have acquired them, you can choose to
leave them in your Mt Gox account or transfer them to your desktop wallet (if you have one).
Personally, I recommend using a desktop wallet and moving all your BTC to there, for
additional security.
Mt Gox also offers merchant tools to enable any online business to accept Bitcoins. I do this
myself for my SovereignLife membership service. In fact I go one step further and offer a 50%
discount on an unlimited membership if paid by Bitcoin. Its really easy to set up and you
can create instant payment buttons which you simply add to your web page, as with other
payment processors. It works perfectly. Think of it like PayPal, but without the hassle!
Heres a few more options for purchasing Bitcoins:
Local Bitcoins Trade Your Bitcoin Buy Bitcoins in Australia BitInstant BTC Near Me
If you have questions regarding anything to do with Bitcoin, or are skeptical and have
concerns, then a great place to get intelligent answers is here.
Bitcoin: The Money Revolution - Page 5
How To Spend Your Bitcoins
The good news is, there is a growing market of Bitcoin-accepting merchants - places you can
spend your BTC. And certainly more can be expected in the future.
To get some idea as to what you can currently buy with Bitcoins, have a look at Bitcoin Wiki
and Spend Bitcoins. You can buy and sell stuff via auction at Bitmit, buy gold and silver at
Coinabul, pay for a holiday at Bitcoin Travel, get a computer or TV at the Bitcoin Store, play
poker at Seals With Clubs, order some coffee at BitBrew, or register a domain at BitDomain.
The possibilities are endless, and as the BTC market grows, so does the value of Bitcoin.
As more and more products and services are able to be purchased using Bitcoins, the more
people will participate and increase demand for them. Like all good ideas, its only a matter
of time before more people catch on and push it to greater acceptance. And this fact raises
another very interesting subject, and a unique opportunity.
How to Make Money With Bitcoin by Doing Nothing
One of the things which makes Bitcoin unique is its xed supply. This means as more
Bitcoins come on to the market, and more people start using them, you have a supply and
demand situation which can affect the price.
Ive witnessed this myself. Back in May 2012, I purchased US$1,000 worth of BTC at the
current rate at the time, which was around US$5 per BTC - meaning I received 200 BTC in
exchange. As of writing this report in December 2012, the quoted price at Mt Gox was
$13.40. That means my original 200 BTC was worth US$2,680 just six months later - a return
of 168% based on essentially the growth of the Bitcoin market.
If youre a trader, you can play the BTC market using the Mt Gox platform, and buy and sell
Bitcoins at opportune times. No doubt many people are doing this, because there is a ready
and growing market for Bitcoins.
Given the dynamics of this market, it is a reasonable assumption that the price of BTC will
continue to rise in relation to the USD and other major currencies. Why? Because these
paper (legacy) currencies are all suffering from over-supply, or in other words devaluation. So
if you are looking for alternative ways to protect the value of money you already have, then
purchasing Bitcoins is certainly one option, and one I am making use of myself.
Given the Bitcoin market is still in its infancy, it is reasonable to expect signicant returns to
early adopters, as supply and demand drive the BTC price up in future. And as many
commentators have noted, Bitcoins have even out-performed gold in this regard.
But there is another very protable way you can boost your Bitcoin balance...
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How to Earn Bitcoins and Build Your Own Freedom Fund
Okay, Ive talked about how to create your Bitcoin wallet, how to fund it, how to spend it -
and even how to prot from it, just by holding on to it. But what if you could also earn
Bitcoins and build up your own private stash of debt-free crypto-currency? Well the good
news is, you can.
An associate of mine, over at Keep Your Assets, has come up with an ingenious concept
where you can not only secure your assets - via his offering of an invisible New Mexico LLC
and other associated freedom services - but also spread the word about freedom, asset
protection and Bitcoins, and be paid in BTC for doing so.
If you were to apply yourself diligently to this opportunity you could make a lot of money,
especially when you factor in the likely capital growth of your Bitcoin balance over time.
Think of it as the ideal business for anyone who wants to make money outside the system
and keep their business activities private.
Essentially it works like this: You join his membership service, Free Market Income, which
provides a substantial package of freedom-related and asset protection products and services.
Theres a lot of value there, including set up of an invisible New Mexico LLC. But you get
something more. You can also promote this same package as an afliate and earn Bitcoins for
doing so. Just think of the possibilities.
Imagine being able to earn $500 each time you refer someone, and getting paid directly to
your Bitcoin wallet. Now imagine also being paid $500 again when those you refer sell this
same package to someone else. Then nally, imagine how your private BTC nest egg could
grow in one or two years, if you continued to promote it.
If you earned say $10,000 worth of Bitcoins by offering this freedom package - and simply
held on to that - then its very likely you could double or even triple the value of your BTC
holding in one to two years, just from appreciation in the value of Bitcoins.
You dont believe me? Well consider this. Back in mid-2010 you could purchase one Bitcoin
for around 6 cents. As I write this report, in mid December 2012, the price is around $13.00.
Do the numbers yourself, or let me help you. For 6 cents to become $13 it is multiplied by a
factor of 216.67. In other words, if you had purchased $10,000 worth of BTC back then, your
current balance would be worth $2,166,700 - well over two million dollars!
Sounds incredible I know, but it happened. And those who saw the potential early on
denitely made a mint. So right now you have an opportunity to cash in on the rise in value
of Bitcoins over time, and a way you can earn them also. The opportunity provided by Free
Market Income could be just the vehicle to boost your nancial freedom.
Bitcoin: The Money Revolution - Page 7
The Unique Bitcoin Advantage
You can create a Bitcoin wallet from anywhere in the world, right from your computer or
smartphone. You dont need anyones permission, or need to provide any information
whatsoever - no name, no ID, and if downloading one of the available desktop wallets, not
even your email address.
Think of it as the ultimate offshore bank account, a place where you can hold funds
outside the system. And there is a good reason to do this. For as Im sure you know, the
world is in an economic mess. Countries are going to the dogs, economically speaking, and
debt is raising its ugly head, only to be perpetuated by even more debt and enslavement.
Truth is, there is no end in sight to the economic travails. So you really do have to take
matters into your own hands, and Bitcoin provides a set of tools to achieve this.
Governments everywhere are on the lookout for more tax revenue, and also cracking down
on existing ways of protecting what is rightfully yours. So whats a sane person to do? How
are you supposed to protect the value of your savings when the currency is constantly being
devalued? How are you supposed to prepare for your old age when the economic system is
being turned on its head and nothing is certain - not even the money in your bank account?
Fortunately, you do have a choice. You can choose to ignore the warning signs and simply go
on as if nothing of signicance is happening, or you can do something constructive.
Given the prognosis on global economic affairs, I can say unequivocally that I do not trust
the government to sort this out. Not a chance. And as a result, it is imperative to think, and
think hard, about the best course of action you should take.
Of course holding gold or silver is also a good way to protect yourself against monetary
destruction, and thats something I do myself. But with Bitcoin you have another strategy
available to you. And the good news is, if you make the effort to understand it, and get to
grips with how radical it really is, youll then see the potential and be motivated to act on it.
More importantly, youll likely see how Bitcoin - as a private crypto-currency - provides an
alternative means of achieving your freedom goals. And not just for you, but for society as a
whole, looking into the future. So dont be a wallower. Grab this opportunity to be an early
adopter, take control of your nancial destiny, and use whatever tools are available to protect
what is rightfully yours, for you and your family. You really do owe it to yourself.
Yours in freedom
David MacGregor
SovereignLife.com
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