Matthew Cox | Inside True Crime Podcast
Exposing The Government's Secret Crypto Scam | Rigged From The Start
31 Dec 2024
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Full Episode
The two most prominent Chinese corporate lawyers end up at the SEC. Both their law firms are very involved in the Ethereum project. And this guy will not apply the securities laws to Ethereum. And then a year and a half later, they turn around and the SEC sued Ripple claiming that XRP was a security. There was like a massive coordinated effort to delay that information coming out.
Crypto is born with the Bitcoin white paper, which is published on Halloween of 2009 by a unknown person or group of people known as Satoshi Nakamoto. Okay. But nobody really knows who it is. No one, well... Somebody knows who it is, but you got a lot of people projecting a narrative into the market that no one knows who it is. Oh, okay, that's what I don't understand.
It's just the, that's the mainstream thing. We don't know who Satoshi is. So he publishes this white paper. Now, it's coming out of the financial crisis of 2008, 2008, 2009, which I think you're very familiar with, the mortgage crisis and the things that occur. Madoff ends up becoming discovered, who was in line to be chairman of the SEC at the time.
So we have Dodd-Frank come out, but effectively – uh, the, the, the highest levels of finance pretty much knew that the Fiat game was coming to a conclusion as a result of that. Right.
Uh, so they turned the money printer on, they tried to come up with some regs, they bailed out the banks that the too big to fail banks, all that stuff, the big short and all these movies and what Satoshi, uh, the essence of what they, um, they get at is that by having the banks, uh, the central banks, if you will, control the money supply.
So it's basically having a centralized place where they get to decide the winners and losers, the balls and strikes, all that kind of stuff. Having a centralized umpire is a bad thing. And we need to figure out a way to basically have our monetary system be decentralized and basically owned by the people.
And if you read the white paper, he came up – there was a big problem, a couple of big problems with trying to do it digitally. One of them was called the double spin problem, which is that, you know, it's the issue you referenced before about being able to fraud, right, and just copy and paste. If it's digital, think about it being a digital picture. You can just copy it and paste it, right?
Well, that was a concern. So how do you – how do you make sure that this unit of value that's in digital code is the actual unit of value? It can't be counterfeited. Exactly. Um, so the protocol that he came up with, which was expressed in the white paper is called proof of work. And it was basically that you had a bunch of computers solving, uh, computer problems.
And once they all agreed that that was the answer, it basically printed a block. So there's a point in history of those block, uh, And then it would do it again and basically says all the transactions that occurred in that are the correct transactions. By doing this system, he solved that double spend problem. We actually know that...
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