US and Canadian Securities Regulators Coordinate ICO Probe in ‘Operation Cryptosweep’


US and Canadian state and provincial securities regulators have opened probes into potentially fraudulent crypto investment programs in what has been dubbed “Operation Cryptosweep”, according to a press release May 21. The latest crackdown on suspicious crypto investment products is reportedly the largest such coordinated investigation by state and provincial officials.

Regulators from across 40 jurisdictions coordinated by the North American Securities Administrators Association (NASAA) have initiated up to 70 investigations, with more to come in the following weeks. Securities regulators have reportedly warned as many as 35 companies about violations of state securities laws with some cases resulting in cease-and-desist actions.

NASAA, which released a warning for Main Street investors regarding the risks associated with crypto and ICOs early this year, said the probe is focusing on suspicious cases of initial coin offerings (ICOs).

According to the Washington Post, investigators discovered about 30,000 crypto-related domain names in recent weeks, most of which were registered last year when the Bitcoin (BTC) price reached its all-time-high of around $20,000.

Alleged scams have reportedly used fake addresses, flashy marketing materials, and guarantees of up to a 4 percent daily interest rate, while failing to report the potential risks of crypto-investments. Some fraudulent ICOs even used fake celebrity photos to endorse their product.

The president of NASAA Joseph Borg stated that regulators do their best to stay one step ahead of potential security violations, noting that not every ICO or cryptocurrency investment is fraudulent.

"We’re putting ourselves in the shoes of investors. We’re seeing what’s being promoted to investors. And then we’re taking the next step and then we’re finding out whether they’re complying with securities laws."

Founded in 1919, the NASAA is an association of state and provincial-level securities regulators in the US, Mexico, and Canada. Through the association, state securities regulators can coordinate and take part in “multi-state enforcement actions,” as well as share information.

Earlier in May, the US Securities and Exchange Commission (SEC) launched a fake initial coin offering website to increase awareness of the typical warning signs of scam ICOs and to promote investor education.

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Global Cell Med is on a Mission to heal the World

Global Cell Med is not a household name, but someday that could change. The organization, based out of the Bahamas, under the direction of Dr. Alejandro Mesples has been working on a procedure to treat Diabetes Type One, a global epidemic currently affecting more than 30 million adults and children in the US alone.

We are pleased to be sharing their important work and look forward to helping them reach their goals once we launch our Einsteinium Accelerator later this summer.

To learn more about the organization and their cutting edge procedure, you can read their project summary here:




Global Cell Med USA is a medical biotechnology company that is involved in the treatment of type 1 diabetes in humans. Specifically focused on the diabetes treatment protocol created by Alejandro Mesples, M.D., an internationally recognized researcher in regenerative medicine who specializes in the treatment of diabetes and vascular diseases.


Diabetes is a growing epidemic and it is global. In the United States alone, 30.6 million children and adults (10-13% of the population) have diabetes. Currently, one in three newborns in the U.S. are projected to be diagnosed with diabetes during their lifetime. The World Health Organization claims diabetes is an epidemic without control. It is one of the leading causes of mortality in the world, causing over 6 million deaths annually. Diabetes is the 7th leading cause of death in the US.

Current treatment for type 1 diabetes does not have any healing outcomes and is very disruptive to quality of life. Diabetes can cause vascular disease that causes cerebral infarcts, heart disease, blindness, kidney failure that can lead to dialysis, and neropathy of the lower limbs that can lead to amputation.

It also creates massive costs and expenditures for individuals and healthcare systems. In the U.S., the total annual economic cost of diabetes in 2015 was an estimated $245 billion.

In the time it takes to read this summary, 161 diabetics have died and 1200 have lost a limb.

Type 1 Diabetes

The human body has a complex system to convert digested food into energy, which is necessary for survival. The body’s digestive system converts digested food into glucose, often referred to as blood sugar, and it is deposited into the blood stream. The glucose in the blood stream is taken into cells where it is converted to glucagon, the body’s energy source. Insulin is the key enzyme in this process and it is made primarily in the islet cells within the pancreas. Type 1 diabetics have none or very small amounts of naturally produced insulin in their bodies. They cannot convert blood sugar into glucagon so they have no way to produce life supporting energy.

Unfortunately, type 1 diabetics are predisposed to diabetes. It is a generic disease so one cannot be naturally infected with the disease. Generally some kind of trigger, either internal and/or external, signals the diabetic’s autoimmune system to treat their islet cells in their pancreas as an antigen or foreign invader to the body. The autoimmune system then destroys the insulin producing islet cells and the process for creating energy for the body.

The only current effective strategy for treating type 1 diabetics and preventing death is to inject diabetics with insulin throughout the day on a predetermined schedule. Insulin treatment is invasive, complicated to use, and very expensive.

Dr. Alejandro Mesples’ Type 1 Diabetes Treatment Protocol

The therapy strategy invented by Dr. Alejandro Mesples is patent pending. It is based on the utilization of a diabetic’s own stem cells within their bone marrow. A patient’s bone marrow is stimulated using a drug called Filgrastim and then the stem cells are aspirated from the iliac crest bone. Those bone marrow stem cells undergo another regime of preparation before they are reintroduced back into the patient. The aspirated and prepared bone marrow stem cells are then transplanted into the patient via intravenous injection – an ambulatory procedure. Dr. Mesples’ treatment does not use autoimmune suppressant drugs or cell culture.

Three governments, Argentina, Chile, and Bahamas, have approved this therapy. The University of Miami Medical Stem Cell Division completed an Independent Review Board Opinion on the efficacy of the treatment protocol, approving the treatment as a consultant for the Bahamian National Stem Cell Committee. Dr. Mesples’ treatment protocol has been peer reviewed by international medical journals and sponsored by one of the largest stem cell researchers in the world, Beike Biotechnology.

Dr. Mesples’ treatment protocol of transplanting autologous bone marrow stem cells, without immuno suppression, into chronic type 1 diabetic patients, is a treatment that drastically improves the health and quality of life of the diabetic patient. This treatment manages to recover the function of the injured pancreatic islet cells and increase the production of insulin in 75% of patients within 4 months after treatment. Allowing treated patients to achieve metabolic stabilization, requiring lower doses of insulin or becoming insulin free for 3 to 5 years. The treatment does not cause lesions in the bone marrow, which recovers quickly after transplantation, so the treatment can be repeated as many times as necessary to continue or improve metabolic stabilization.

Currently, there is no approved diabetes treatment like this available in the US. Through his company Stem Cell Bahamas, Dr. Mesples is conducting a clinical trial at Doctors Hospital - Bahamas Medical Center in Nassau, The Bahamas. This trial is open to any type 1 diabetic and chronic type 2 diabetic worldwide.

The Science of Stem Cell Therapy

When a diabetic’s adult stem cells that have been treated using the Mesples’ process are injected into the diabetic, the treated stem cells are directed to the damaged pancreas using chemokines. The stem cells that migrate through the action of chemokines biologically reach the designated pancreas and secrete mediators. This action causes local stem cell activation, differentiation, and the damaged cells in the pancreas are transformed by the human body into healthy islet cells.

Stem cells are special cells in our body that can replicate and differentiate – meaning they can transform into a myriad of healthy functioning cells found in your body. Dr. Mesples’ treatment protocol uses a diabetic’s adult stem cells that already exist in their bone marrow are small protein molecules that act as chemattractants, leading the migration of treated stem cells to the damaged pancreas.

Through his research Dr. Mesples has confirmed that adult stem cells can provide a replacement source of cells to treat serious diseases. This ultimately means that virtually any disease that results in cellular and tissue destruction can potentially be replaced by adult stem cells.

History of Dr. Mesples Diabetes Treatment Protocol

Dr. Mesples research into diabetes treatment began in Argentina. There he created a diabetes treatment that involved infusing a diabetic’s own stem cells, collected from the diabetic’s bone marrow, into the pancreatic system to stimulate the regrowth of islet cells in the pancreas. The treatment was non invasive and did not utilize autoimmune suppressant drugs. In 2005 the Argentinian Government authorized Dr. Mesples to conduct clinical trials, using his new treatment protocol. The results were very promising. There were no adverse side effects or health events. The treatment was shown to improve blood glucose control, insulin secretion, reduce insulin injection requirements, and not require autoimmune suppressant drugs. The new treatment protocol showed a strong potential to become a primary or supplemental treatment for type 1 diabetes sufferers, improving their quality of life, avoiding complications of diabetes such as kidney failure, blindness, and lower limb neurological damage.

The results of the Argentinian clinical trials for Dr. Mesples new diabetes treatment protocol attracted the attention of the largest biotechnical company in China, Beike Biotechnology. Beike is a world leader in stem cell research and medical applications. Over the next decade Dr. Mesples conducted research and clinical trials in China, substantiating his original results and improving on the treatment process.

Dr. Mesples and his team at Stem Cell Bahamas have begun a clinical trial at the Bahamas Medial Clinic. The current trial was approved by the government’s National Stem Cell Committee and confirmed for efficacy via an Independent Review Board Opinion by the University of Miami Medical Stem Cell Division. (The Bahamas clinical trial is similar to a Phase 3 FDA trial in the US ) The trial is being conducted at the Bahamas Medical Center, owned by Doctor’s Hospital Health Systems of The Bahamas. Doctors Hospital is accredited by the Joint Commission International (JCI).

JCI is the international arm of the U.S.-based Joint Commission on the Accreditation of Healthcare Organizations (JCAHO); the same body that certifies more than 21,000 hospitals in the United States. Fewer than 850 hospitals outside of the United States have earned the accreditation and Doctors Hospital remains one of only two acute care hospitals in the Caribbean region to be recognized for its consistent adherence to international quality standards.

The new trial in the Bahamas will utilize a larger patient base and develop a standard protocol for the stem cell re-transplantation process. At the conclusion of the Bahamas’ clinical trial, Dr. Mesples will apply for a marketing permit from the Bahamian Government to begin selling his treatment to medical practitioners that treat diabetic patients from around the world.

Historical Clinical Trial Results for Dr. Mesples’ Treatment Protocol

Within the last three years, 3 meta-analyzes were published in medical journals concerning the transplantation of different types of cells and techniques to treat type 1 diabetics. This analysis included over 1500 patients from around the world (outside the US).

The meta-analyzes showed that adult hematopoietic stem cells are the ones that show the best results in terms of the peptide c elevation and the decrease in daily insulin use. Dr. Mesples came to these same conclusions in his research 10 years ago.

The complete clinical results of Dr. Mesples’ clinical trials are not provided here because they are lengthy and very technical. The complete research documentation (clinical results) provided to the Argentinian Government about Dr. Mesples’ initial clinical trials, research and clinical trial results with Beike Biotechnology, and similar information provided to the National Stem Cell Committee of the Bahamian Government is available to qualified recipients after signing a Non Disclosure Non Circumvention Agreement.


Medical research and treatment protocols of diseases in the United States are a multi billion dollar industry. By law all new drugs and medical treatments must be approved by the Food and Drug Administration (FDA). This process is arduous, can take 10 years or more, and is very expensive. The FDA approval process has become a typical government bureaucracy that is controlled by the largest drug companies, medical research facilities, and political philanthropic organizations through political persuasion. Although factions of the medical industrial complex have noble objectives to cure diseases, it rarely happens. Diabetes is a classic example.

A diabetic can live a long life with diabetes if they take insulin correctly and do a reasonable job of controlling their blood sugar levels. However, the longer a person has diabetes the probability of kidney failure, eye problems, and nerve damage to lower extremities increase significantly. This is the perfect disease for the medical industrial complex. Drug companies make billions selling insulin and blood sugar testing equipment. Philanthropic entities like the Juvenile Diabetes Research Foundation (JDRF) raise tens of millions of dollars a year from well meaning donors for diabetes research and then provide grants to medical research facilities to find a cure. JDRF has been doing that for over 30 years and are no closer to a cure than when they started. Medical research about diabetes is fragmented and old concepts are rarely challenged. When Global Cell Med USA contacted JDRF about discussing Dr. Mesples treatment protocol, they declined. There are no FDA approved medical treatments for diabetes using stem cells and no immuno suppression drugs available in the US market.

Dr.Mesples’ research in Argentina was not hampered by the bureaucracy and financial agendas inherent in the US. Thus he was able to create a treatment for diabetes using stem cells that does not require autoimmune suppressant drugs. Do to the successful results of Dr. Mesples’ previous clinical trials, Global Cell Med USA should be able to enter the FDA approval process as a mature Phase 3 stem cell treatment clinical trial, eliminating years of clinical trials and millions of dollars in expenses. As soon as the minimum number of patients are treated and the results approved by the FDA, Global Cell Med USA could have a treatment for diabetes on the market in the US in less than 2 years that is non invasive, economical, and effective.

Business Plan

Global Cell Med USA is an affiliated company of Stem Cell Bahamas, which desires to expand into the United States, the largest market for type 1 diabetes in North America with over 3 million diagnosed sufferers.

The objectives of Global Cell Med USA are:

  1. To help heal type 1 diabetics, utilizing Dr. Mesples’ diabetes treatment protocol in the United States.

  2. The first step is to obtain a New Investigative Drug Number (IND) from the US Food & Drug Administration and enter their approval process at Phase 3. This is the last clinical phase before the stem cell treatment is approved for mass marketing as a medical practice.

  3. The next step is to obtain an Independent Review Board Opinion (IBR) on the efficacy of Dr. Mesples’ treatment protocol for treating type 1 diabetics.

  4. Then Global Cell Med USA will be in a position to contract with hospitals and other diabetic treatment facilities to use Dr. Mesples’ treatment protocol, expanding its Phase 3 clinical trials for new stem cell treatments.

  5. Once the Phase 3 clinical trials results have been examined and approved by the FDA, Global Cell Med USA will obtain a permit to market Dr. Mesples’ treatment protocol to qualified medical practitioners that treat diabetes in the US.

Global Cell Med USA intents to present to the FDA the clinical trial data from Argentina, China, and Bahamas and use that data to get credit for completing Phases 1 and 2 in the FDA’s new stem cell treatment approval process. If approved the US clinical trial will begin as a final Phase 3 trial.

Once Global Cell Med USA has obtained an IND from the FDA, it will partner with medical providers in the US that qualify to conduct clinical trials for type 1 diabetes treatment. These initial partnerships will be located in population centers so they can service as many type 1 diabetics as possible.

Global Cell Med USA will use the clinical trial results from the Bahamas in combination with the results from Phase 3 clinical trials in the US and partition the FDA to shorten the number of patient requirements for a Phase 3 clinical trial. If successful Global Cell Med USA will substantially shorten the timeline for applying for a marketing permit to sell Dr. Mesples stem cell treatment to a large number medical practitioners that treat diabetics. This would be the first a non evasive, economical, and effective treatment for type 1 diabetes that can help heal millions of type 1 diabetics within the United States.


Crypto: the issue of planetary adoption

In his recent article Why Everyone Missed the Most Mind-Blowing Feature of Cryptocurrency, Daniel Jeffries makes the point that the true power of crypto-currency technologies lies in its ability to disintermediate the issuance and distribution of money i.e. to replace the 400 year old banking cartel that runs the world, and the attendant violence that keeps it in power

He correctly points out that money flows from the top, down through controlled channels that limit the amount of power any individual is allowed to have, and cleverly identifies that whilst crypto(-currencies) have done very well with issuance (the “printing” of money, in his parlance), they’ve done less well with adoption (distribution)

It’s true. Buying bitcoin is and has been, since inception, a path for the persistent and clever, but most importantly, for those fortunate enough to possess the requisite resources

I agree with Daniel that crypto will only bear fruit as a function of world-wide adoption and, as I argued in my article BTC Ad Astra, this adoption is less likely to happen as a function of the transnational value of crypto, than it is from its investment (store of value) quality, simply because from a comparative perspective, the average man can reach the conclusion of his need for participation more readily by viewing the price on a screen, than by observing advantages in the spending efficiency of the currency

At present there is a great deal of thinking devoted to the issue of adoption, including models where money is literally given away. Of course, no one can say for sure what will work and what won’t — there are no guidelines and we are walking in undiscovered country — but in thinking more deeply about how money is distributed we necessarily arrive at the corporate structure

If we’re going to change the world, we have to start with the corporation

Unlike what is widely believed in certain circles, corporations are not evil. They have become evil as a function of the perversion of their mechanisms, but the basic premise of the corporation is still valid and useful: that a man who provides value to the world and captures that value (money), can redeploy it in the service of others (investment), facilitating growth, discovery and the betterment of society (economic activity) — in exchange for a reward (dividends)

As I’ve recounted elsewhere, investors no longer even know what dividends are, and CEOs collect as much of the profit as they can (and particularly in the US, that is quite a lot) at the expense of shareholders, employees and customers. The management of modern corporations consists of manufacturing substandard products, lobbying governments so they can manipulate markets, cooking the books and generally bamboozling the public to keep sales high — all with the single aim of amassing as much value into the hands of the few (management), at the expense of the many (shareholders)

So the modern corporation is a funnel by which the ruling élite controls how much of the value produced by men is actually kept by them, and the rule of thumb is to allow as little as possible of the power to trickle down, even to the point of starvation. In other words, corporations are a tool of enslavement

Unfortunately, changing this behavior, as much as has been tried, is not within the realm of possibility, simply because those structures have amassed sufficient power to retain their status quo

So if corporations are to become part of the solution, perhaps they need to be tricked into doing so. It’s not difficult to imagine how, given that they are completely driven by profit motives

The Ubiquicoin project, for example, is contemplating such a path by mimicking the mechanisms of the vast hawala networks that currently operate throughout the Middle East, North Africa and the Indian sub-continent. These systems are used to transmit money internationally at lower costs than their Western counterparts: SWIFT and the Visa network. By putting these mechanisms on the blockchain and tapping into existing markets, Ubiquicoin could bootstrap operations and create a vast opportunity for the deployment of crypto internationally. Corporations would flock to the coin by virtue of the savings offered, but due to the project’s approach in creating a currency stable with respect to fiat, they could also potentially come to rely on the coin as a reserve currency — reserves are, after all, primarily used as temporary caches in the management of cash-flow. As their dependence on the coin increases for transacting with vendors, it is conceivable that eventually the coin also becomes useful for paying management, and finally, employees

But old habits die hard

So we need to start fresh

The Aragon Network is due to go live by year’s end. The product, currently in alpha, is already very user-friendly and comprehensive in terms of features, the most immediate consequence of its use which will be the creation of (hopefully) a tidal wave of decentralized autonomous organisations (DAOs)

A DAO is, in essence, a corporation, but without the trappings of corruption i.e. without law, litigation, judges, jurisdictions et cetera. It is a corporation whose bylaws are embedded in the heart of a cold, perfectly logical and totally inhuman machine that enforces the proper and just distribution of value

From the perspective of commerce, a DAO can compete head to head with any corporation, but with the great advantage of neither having to answer to tax authorities, nor having to retain lawyers, accountants, HR personnel, or any of the panoply of parasites that currently drain corporate profit. Most importantly, they run without executive management and the attendant “sweetheart deals”, golden parachutes and exorbitant bonuses — thus preventing the funnel effect

In other words, a DAO is the perfect instrument to distribute crypto-currencies i.e. it is through commerce and economic activity (via investment) that we find the path to the planetary adoption of crypto

Like ownership in bitcoin, participation in a DAO is open i.e. anyone on the planet regardless of income level, faith, political inclination or jurisdiction can become a token holder without requiring permission. A child in Jakarta can buy tokens the same as an investment banker in New York because the DAO serves everyone equally

To circle back to Daniel, if the bus driver weren’t chained behind the wheel, he might write that great American novel he always dreamed of. If his income weren’t crippled with overbearing taxation, if he weren’t forced by tyrannical governments to have his investments managed by Wall Street funds happy to take fees but remain otherwise unaccountable to him, if his cost of living weren’t as high as it is owing to the corruption of the system, he might have that chance

And if the coming wave of DAOs has any chance of surviving, that dear bus driver we’ve come to love may have the chance of taking his hard-earned pennies, making an investement and actually benefitting from it, like it was always meant to be

erick calder

What can Bitcoin learn from Gold's survival as a stored value instrument?


he greatest heist of the century was pulled off by central bankers when they managed to conflate the price of futures contracts on gold with the price of physical bullion

in the public eye, the “spot” price on gold is what the metal is worth, however, futures contracts are manufactured out of thin air and are rarely delivered, instead getting settled for cash

the net effect has been one which many refer to as the gold suppression scheme i.e. that by being able to create supply on demand, central bankers have maintained precious metals prices artificially low, in essence practically eliminating public interest in it

bitcoin could thus learn this valuable lesson and ensure that its audience understands clearly that the value of the coin is in holding it. buying interest in derivatives like ETFs is not the same and should not be regarded as the same

so long as stakeholders keep their coins in their possession, borrowing them (as is done by brokerage houses with stocks) to allow short positions will remain marginal and the ability of any powerful player to suppress bitcoin prices minimal

thanks for the chance to answer your excellent question

Eric Calder

What is under-hyped in cryptocurrencies right now?


Under-hyped is different from undervalued so I’m not sure that Greg Matthews’ answer quite addresses your question

with the large number of currencies in existence it’s difficult to keep up with what’s hot and what’s not but the best thing is to research and understand the activity level behind a currency and ask question. such as:

  • does the coin have an active development team?
  • what use cases does it serve?
  • how is the team marketing the coin?
  • what apps are being developed to use it?
  • is it listed on an exchange such that the public can purchase it easily?

the answers to such questions give you a perspective on whether there is potential behind the coin and allow you to compare hype against market valuations

a good example is a little-known coin called Einsteinium (EMC2). it was created a few years ago and all but died. in recent memory it has regained the market’s interest as developers and miners have begun lining up to get involved. the community is actively pursuing a number of interesting use cases and in my opinion there’s very little press about it, something that will change

currently pricing is hovering at around 3,000 satoshi/coin with a market cap of about $15M USD, but the coin could easily double or triple. only time will tell, of course, but given the Einsteinium Foundation’s agenda for growth and their active involvement with the energy sector, a super-wallet (in development) and various channels currently under exploration to provide a public on-ramp for the currency, it’s easy to see big gains coming in the mid-term

additionally, due to a technical issue where one of the exchanges (currently traded on Bittrex and Poloniex) discovered a double-spend (no one lost money but the issue had to do with under-capacity of hashpower on the network, which is being addressed as a high priority), the price at this point makes it a good buying opportunity


Eric Calder

The ICO: an expression of Koyaanisqatsi


the Status project raised $270M this morning in under 3 hours, concurrent to Civic’s, which completed its ICO for a total of $64M in a heavily oversubscribed offering

as with the Bancor ICO of just a few days ago, which raised $150M, the process generated great congestion on the Ethereum network and left many would-be participants out in the cold

in the context of the US national debt, or of market valuations for companies like Apple or Google, these sums are tiny, but if we consider that the purveyors of these funds are not institutions but individuals, not the great occidental pools of money collected over decades from the non-thinking public, but the hard-earned capital from little peoples across the world thinking hard about the potential of these projects, we start to discern something novel in this withering period of world history

unlike the IPOs of earlier days, these currency issuance events are not the product of lawyers, months of costly due diligence, SEC filings and government accreditations for participants; in fact, often there aren’t even legally formed companies for ICOs — the groups involved instead choosing to operate as github projects i.e. loose coalitions of developers living in different continents who have never met face-to-face and contribute to the project without compensation or clear leadership

gone are the Private Placement Memorandums (PPMs), Ivy League educated CEOs, prestigious underwriters like Goldman Sachs, auditors, and panoply of parasites we’ve all grown accustomed to. gone is the ludicrous notion of investing in intellectual property, in institutions and reputations

what we’re investing in now — often conveyed via little more than a whitepaper — is disruption. we’re investing in the unknown, in anything with the potential to change the status quo, and in the faith that anyone who would build a thing on their own time and contribute it anonymously to the world must do it out of altruism instead of greed

the posterchild for the nascent zeitgeist is, of course, Satoshi Nakamoto. whoever he is, we owe him a unpayable debt of gratitude, not only for the gift of Bitcoin, but also for bright-lining the leitmotif of the open source community: that something truly valuable must belong to those it serves, that ideas aren’t property, and that if we work together we can change the world

the Hopi tribes of North America use the word Koyaanisqatsi to mean “a life out of balance” — a state of affairs that demands a change in the state of affairs

and there is little question that on a planetary level we are awakening to the consciousness that our present way of life is unsustainable. for those that never heard of crypto-currencies, expression for change comes in the form of President Trump’s election and Brexit, the Scottish secession movement, or the many occupy/resistance initiatives out there

for those of us who understand the vision behind “crypto” and the enormity of the change it represents, there are ICOs

Eric Calder

What would happen if a country converted all of its currency to Bitcoins?

The short answer: it would make its citizens instantly wealthy beyond imagination.

Adopting bitcoin as a national currency would mean exchanging all of that nation’s currency for BTC, a process that, no matter how small the nation, would represent a colossal demand for the crypto-currency.

Additionally, as most nations today use the US dollar as a reserve currency, such a move would also represent the dumping of greenbacks, which would cause an equally massive downward pressure on USD.

Together, the USD/BTC cross would see complete collapse, dealing the already moribund dollar a mortal blow that would force all other nations to divest themselves of it, lest they be left with no value in reserves at all.

In selecting a new reserve currency, no nation could, of course, steer clear from the unavoidable political choice of picking the fastest appreciating, most secure and well proven currency the world has ever seen: bitcoin.

At that point, the average exchange rate at which the posited first nation managed to bitcoinise will pale in comparison to the rates other nations will pay in their frenzy to keep whatever wealth they have collected and said nation’s citizenry will have acquired a benefit which I needn’t expound on here.

As a final note I would add that having adopted bitcoin as a global currency would in one quick blow eradicate most of humanity’s suffering: no more hunger, no more war, no more illness, no more poverty. for these are all creatures of our degenerate monetary system, which in our age we have haplessly come to believe a necessary yoke, but which bitcoin will prove wrong.

That said, I have little doubt that no sooner is there talk of any such move by a nation, than will the US dispatch a “diplomatic” detachment to quash any such thinking, for no dollar dumping can ever be allowed (another topic I need not expound upon for the already abundant precedent to draw from).

Erick Calder

convert bitcoin