2018-01-10 / Special

Internet In Bloom For The Layperson

By Ted J. Bloom

Ted Bloom, MLS., MSEd., CPL.,CKMI., NP has been a published columnist in New York since 1999. A CDCR law librarian and instructor with two graduate degrees, some of his credentials include, creating and running a career preparation computer lab for at-risk youth through the U.S. Department of Labor, as well as being a NYS Notary Public, SUNY Communications Instructor, a YMCA Director and a Certified Krav Maga Instructor.  His first book The Librarian's Guide to Employment in the Information Age is now available on Amazon.comTed Bloom, MLS., MSEd., CPL.,CKMI., NP has been a published columnist in New York since 1999. A CDCR law librarian and instructor with two graduate degrees, some of his credentials include, creating and running a career preparation computer lab for at-risk youth through the U.S. Department of Labor, as well as being a NYS Notary Public, SUNY Communications Instructor, a YMCA Director and a Certified Krav Maga Instructor. His first book The Librarian's Guide to Employment in the Information Age is now available on Amazon.comJanuary 2018 is here and with it we have some fascinating predictions.  For example, Max Keiser of www.RT.com's financial program bar none, the Keiser Report, believes bitcoin will play a big role in reshaping our economy in 2018.  See www.maxkeiser.com and www.RT.com/shows/keiser-report for ongoing details.  To grasp this one has to understand what bitcoin is.  The following partial encyclopedia definition is made possible courtesy of www.the freedictionary.com--your free source online for multiple dictionaries:  "Bitcoin A peer-to-peer digital currency and electronic payments system introduced by Satoshi Nakamoto in January 2009. There is no central repository. Bitcoin is a decentralized virtual currency that is not
controlled by any government.

Bitcoin is also known as a cryptocurrency, because transactions are encrypted and published in a chained list known as blockchain. Constantly expanding, the blockchain is duplicated in nodes  through the Bitcoin network.

Bitcoin transactions cannot be altered or reversed, and this results in a system with built-in trust.
There are many organizations on both the Web and the dark Web (underground or illegal web) that accept Bitcoins, and many people will do work in exchange for Bitcoins.

Bitcoins can be divided into minuscule fractions of a single coin (0.00000001 Bitcoin is equal to 

one Satoshi), and every Bitcoin fraction has a unique address.

Bitcoins can also be bought and sold for real money at a Bitcoin exchange that fluctuates like a share of stock.

For example, on January 1, 2013, one Bitcoin was worth $13.38 in United States dollars. By late2015, it was worth around $230 but two years later topped $4,000 with a market cap greater than 70 Billion dollars.

Keiser predicts, along with other economists, such a Dr. Richard Wolff, that we are past due for a market adjustment--aka, large crash.  Bitcoin, just like Max Keiser's show has been around for nine years this January.  Max predicts that Bitcoin's widespread use will strengthen investment in gold because the Bitcoin cryptocurrency eliminates our underground economy as Bitcoin is highly traceable as a digital currency would be expected to be.  Hence we will see the beginning of the end of untraceable cash currencies--a blow to organized crime and corrupt banking everywhere.

Return to top

Copyright 1999-2018 The Service Advertising Group, Inc. All rights reserved.