Monday, August 21, 2017

Take Another Look At What Happened In Charlottesville! (Part 3)

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The Real Deal: Ole and Jim From Virginia to Spain
Gary King
Published on Aug 18, 2017
Jim and Ole Discuss the most current events of the third week of August 2017
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The Charlottesville Psy-Op with Jim Fetzer & Dean Ryan
Truth Be Told TV
Published on Aug 16, 2017
Truth Be Told Special Report looks into the Charlottesville incident and what is really happening, who's really an informant and what will happen next.
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What the media won't tell you about the Charlottesville accident
Story Time with Jesus
Published on Aug 13, 2017

Paypal/Prayers: storytimewithjesus@gmail.com
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Dr Paul Craig Roberts: Charlottesville
Mrmot
Published on Aug 16, 2017
Dr Paul Craig Roberts: Charlottesville and “Trump the white supremacist” to the real issue, the powerful oligarchic interests that are fomenting conflict with Russia.
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Jeff & David Duke - Exclusive Talk With David Right After Charlottesville
Jeff Rense
Published on Aug 15, 2017
.The Jeff Rense Radio Archives contain interviews with over 18,000 people over a period of 24 years. Access and listen to some of the most stunning people of our times in often unforgettable interviews just like this one
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CHARLOTTESVILLE
Stefan Molyneux
Published on Aug 14, 2017
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When people stop talking, inevitably, unfortunately and predictably violence escalates. Virginia Gov. Terry McAullife declared a state of emergency leading to riot police shutting down the “Unite the Right” rally in Charlottesville, Virginia. The violence escalated from there with many being pepper sprayed, hit with rocks, physically assaulted and most shockingly - event attendee James Alex Fields, Jr. drove a vehicle into a crowd of counter-protesters, killing at least one person and leaving countless more injured. 
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Charlottesville Stinks of a Democratic Party Psyop
By Patricia McCarthy
(abridged by henrymakow.com)
August 20, 2017

(Start at 2 min. Many contradictions. Eg. James Fields was filmed in the uniform of this group but they denied he was a member )
We don't have a smoking gun but circumstantial evidence indicates that Charlottesville was another staged psyop designed to polarize the nation and stigmatize Donald Trump as a Nazi. It's disgraceful that YouTubers have to explode these psyops because MSM and police have been subverted. But in light of  9-11 and Sandy hook, what else is new?
The ridiculous campaign by virtually every media outlet, every Democrat and far too many squishy Republicans to label Trump some kind of racist and Nazi sympathizer is beginning to have the stink of an orchestrated smear. The conflagration in Charlottesville is beginning to feel like a set-up, perhaps weeks or months in the planning.
Planned by whom? Time may tell. We know that Michael Signer, the mayor of Charlottesville, declared his city to be the "capital of the resistance" just after Trump's inauguration. We know that Gov. Terry McAuliffe is a corruptocrat, joined at the hip to the Clintons. He pardoned sixty-thousand felons in order to ensure he delivered his state to the presidential election of Hillary Clinton. We know he would like to run for president himself.
We know that Obama and his inner circle have set up a war room in his D.C. home to plan and execute resistance to the Trump administration and his legislative agenda. None of these people care about the American people, or the fact that Trump won the election because millions of people voted for him.
They suggest those deranged persons who gathered in Charlottesville as members of one of several fringe groups, Unite The Right, neo-Nazi or KKK, are Trump's base -- as if there are more than a few hundred or thousand of them throughout the country. There are not enough of them to affect anything or elect anyone. Those who are actual members of these small groups are most likely mentally ill to one degree or another. Trump has disavowed them all, over and over and over again.
Liz Crokin, an entertainment reporter and no fan of Trump, wrote in 2016 that she had covered Trump for over a decade and in all that time, no one had ever suggested he was racist, homophobic, or sympathetic to white supremacists. That all began after he announced his campaign. It is as fake a narrative as the "Russia collusion" meme. The left set out to defame Trump from moment one. When he won the election, their shock, dismay and intolerance for every opinion that differs from their own shifted into hysterical overdrive. They mounted their crusade to destroy his presidency on Nov. 9, 2016.
(Jewish Unite the Right organizer Jason Kessler was organizer of Occupy Wall Street)
What if Signer and McAuliffe, in conjunction with Antifa and other Soros-funded groups like Black Lives Matter, planned and orchestrated what happened in Charlottesville and meant for events to unfold roughly as they did? If they did, it was icing on their sick, immoral cake. If this was all part of a plan, one would hope those behind it suffer for their part in and responsibility for the tragic death of a young woman, Heather Heyer. The "founder" of Unite The Right, Jason Kessler, was an activist with Occupy Wall Street and Obama supporter.
He sees himself as a professional provocateur. What if he was a ringer, a phony who revels in riling up some crazy people for some political purpose? We know the left is skilled in all manner of dirty tricks. That sort of thing was Robert Creamer's job for the Hillary campaign, hiring thugs to incite violence that could then be blamed on Trump supporters. Think of Ferguson, Baltimore, Berkeley, etc. Antifa and BLM are every bit as fascist as any of the supremacist groups; they are more violent and there are more of them. Why is the left so afraid to admit this fact? Even Peter Beinart did in the Atlantic, written before last Saturday.
Since that day, the call to remove the statues on display that honor any members of the Confederacy has become shrill and frenzied. Erasing American history benefits no one and only condemns us to repeat past mistakes. The supremacist groups had a permit; they had applied months earlier. The Antifa and Black Lives Matter groups did not have a permit. The local police at some point, on whose order we do not know, turned the pro-statue groups toward the Antifa and BLM groups, many of whom were armed with lethal weapons - soda cans filled with cement, bottles filled with urine, baseball bats and boards with screws protruding to do maximum harm, and improvised flamethrowers.
(Was Fields, lower right, really the driver, left?)
These are the people who initiated the violence. How was this not a planned melee? Pit groups of demented racists -- all of them on both sides are certainly that -- against each other and violence is sure to occur. (Certainly, there were decent people among the protestors and counter-protesters who had no affiliation with the supremacist groups or Antifa or BLM. Heather Heyer was among them.) 
Finally, Trump's press conference on Tuesday made the left's heads explode. Why? Because everything he said was absolutely true. He does not play by their tyrannical PC rules. He said what was true and that room full of puerile reporters shouting insults at him could not handle the truth. They want what they want to be true but it just is not. This entire episode, the behavior of all those protesters in Charlottesville and the bizarre behavior of the media will likely drive future voters to Trump, not away from him.
Millions more than those who voted for him are as likely to be sick to death of the self-righteous preening of the talking heads: Chuck Todd, Jake Tapper, Don Lemon, Shep Smith, etc. There must be a contest to see who can appear to be the most egregiously triggered by what Trump did or did not say.
(Nationalists chanted "Jews will not replace us." )
So were the events of Saturday the result of a despicable plan to further undermine Trump? There was plenty of time and Charlottesville is the "capital of resistance." If it was, it was evil and deadly and the people involved need to be prosecuted. Or is this a wild conspiracy theory? Perhaps. But the pieces fit. Will the DOJ and the FBI actually investigate the many mysteries that surround the events of that day? Not likely. The left in this country has long been and seems to remain above the law. But someday, maybe someone will come forward and tell the truth. What is certain is that the violence could easily have been prevented with the common sense strategies civilized cities put in place. America deserves much better from its media and its elected officials. The only person remembering why he is there is Donald Trump.
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Something stinks about Charlottesville
By Russ Vaughn
August 17, 2017
Evidence is turning up from, of all places, the Southern Poverty Law Center, as well as Breitbart and others, that this character, Jason Kessler, who organized the suspicious and supposed Alt-Right demonstration in Charlottesville, Va. that blew up in everyone's face, is a cunning lefty holdover from the Occupy Wall Street movement and a former Barack Obama supporter.  I smell Soros money, sabotage, and Democrat dirty tricks here.
I've been suspicious of the nature of the violence at this supposed Alt-Right demonstration since the news first began breaking.  It is no secret that radical elements in the Democrat left have been routinely utilizing violence when it suits their purposes.  
We also know via secret tapings by Project Veritas that the Democratic Party has a semi-official director of dirty ops, Dick Creamer, who hires, trains, and emplaces professional disruptors to encounter, engage, and infiltrate conservative demonstrations to foment violence, assuring that the demonstrations then become the targets of negative media attention – naturally, against the conservative side.  Creamer was caught on videotape boasting about his nefarious capabilities when he thought he was in friendly company.
So here we now have another blown supposedly conservative demonstration, where violence erupts and people are killed, and guess who just happens to be a ringleader of the various ultra-right to Alt-Right organizations ranging from KKK and neo-Nazis to the kind of patriotic folks who might go to a Flag Day celebration!  Um, that would be our vaporous political will o' the wisp, Jason Kessler, whose Occupy activities may well have put him in operational cahoots with high-level Democrat operatives.  And owing to the leniency of Virginia open carry laws, too many of Jason's followers just had to parade their personal armories in all their camo combat gear, showing off their minuteman firepower.  My first reaction at seeing those clowns strutting down the street like they were in Mosul was, like that of many of my fellow NRA members and military veterans, shaking my fist and yelling at the TV, "No!  No!  No, you idiots!  No!"  And that kind of award-winning stupidity makes me wonder if the head planner for the event, Jason Soros...er, Kessler, didn't have that firepower demonstration all lined up and ready to go precisely to make those right-wing tools look just like the fools they were being, while scaring the bejeezus out of the lefties, blacks, and MSM twerps.

There's still not enough evidence on the actual violence, other than the schizophrenic kid who ran over the woman, to make any kind of assessment as to who did what in the confrontations between the right-wing demonstrators and the surprisingly strong counter-demonstration.  I have to wonder if this Kessler fellow, strong Barack Obama-supporter that he is, had a hand in making sure his Alt-Right marchers were clearly guaranteed to encounter a strong crowd of riled up counter-protesters as well.  The reporting of Kessler's background, as well as that of Charlottesville mayor and Democrat activist Mike Signer and Vice Mayor Wes Bellamy, has convinced me that Charlottesville was a Democratic Party black operation, planned, organized, and carried out to its successful conclusion, to make the media portray all these conservative whites as stupid, racist, and violent.  I believe that it was done by this soulless young man, who succeeded in selling himself to the dumb-bunny right-wingers as one of them.
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Also See:

Tearing Down Statues, Blowing Up Mount Rushmore - What's Next?

19 August 2017
and

Take Another Look At What Happened In Charlottesville!

and
(Part 2)
18 August 2017
and

USA Civil War Could Start Anytime!

15 August 2017
and

Violent Left-Wing Extremism Increasing Around The World!

09 July 2017
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So ... What's With The Millennials? (Part 2)

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When Hillary lost the election...
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Brendan O'Neill: My Beef With Millennials
Published on Aug 13, 2017
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Millennials at Work
The Agenda with Steve Paikin
Published on Jan 4, 2017
Millennials, in sheer numbers, now make up the largest cohort in the workforce and they're bringing with them their own distinctive sensibilities. The Agenda examines how they are changing the workplace.
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Millennials: We Suck and We're Sorry
Stephen Parkhurst
Published on Sep 18, 2013
Finally, the terrible Millennial generation apologizes for being so terrible! We're the worst!
Directed by Stephen Parkhurst

Starring Sara Jonsson, Nick Schwartz, Ronnie Fleming & Bridget Araujo
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Millennials aren’t taking over politics just yet
By Philip Bump
31 July 2017
Katherine Quigley, 19, of Stuart’s Draft, Va., poses for a picture with Miley Cyrus, who was making a campaign visit for Hillary Clinton and Tim Kaine at George Mason University last year. (Jahi Chikwendiu/The Washington Post)
At some point, the age of the baby boomer in American politics will end. It’s simple demographics: Boomers keep getting older and older, and that means there are fewer and fewer of them. But, contrary to two recent news articles, the boomer political era hasn’t ended yet — and it won’t end next year, either.
We will start with an article from Pew Research, which notes that, for the first time, voters younger than the boomers outnumbered baby boomers (and those older) in votes cast in 2016.
There’s an important caveat to this that we’ve noted before. Unlike “baby boomer” — people born between 1946 and 1964 — there is no set definition for “millennial” (or “Generation X,” for that matter). Generations are mostly made-up marketing gimmicks, with the exception of the boomers for whom particular demographic boundaries exist. So Pew’s definition of “millennial” isn’t necessarily someone else’s, and that’s important to remember for analysis of how the generations compare.
That same issue affects another recent article. At CNN, political analyst Ron Brownstein predicts that 2018 will be the first election in which there are more millennials eligible to vote than boomers. “That transition,” he writes, “will end a remarkable four decades of dominance for the baby boomers, who have been the largest generation of eligible voters since 1978, when they surpassed what’s been popularly referred to as the Greatest Generation (or G.I. Generation) raised during the Depression.”
But then he raises a critical point, one also at the heart of the Pew analysis: Young people vote less consistently.
Pew’s combination of Gen Xers and millennials in its comparison to boomers is important because there are more millennials than Gen Xers — but Gen Xers vote a lot more heavily.
Take Gen Xers out of Pew’s calculus and boomers are still the biggest voting bloc.
In early 2015, we used data from Political Data to graph turnout by age in California the previous November. The result was a remarkable curve in which first-time voters cast ballots more heavily than those in their 20s, after which point turnout tracked upward along with age.
That was an off-year election, which matters. We pulled exit polling data from elections since 1976 and compared turnout in that year’s presidential or House elections with the composition of the population at large. In every election, the composition of the electorate contained a lower percentage of the youngest age group (usually 18- to 29-year-olds) than the population on the whole. In most elections, the second-oldest group turned out more heavily as a percentage of the electorate than of the population.
But notice the difference between the red years (presidential) and the green (off-year) ones. While in most presidential years, the oldest age group turned out as a lower percentage of the electorate than they constituted in the population, that wasn’t the case in off-year elections. 
This a critical point for Brownstein’s thesis: Millennials (however you define the group) aren’t going to vote more heavily than boomers next year because young people simply don’t vote as much, particularly in off-year elections! And they didn’t vote more than boomers last year, either.

Again: At some point, this will change, and millennials will call the shots in our political process. But for that to happen, they need to actually vote. And for that to happen, it seems, they need to get a little older.
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Millennials' Political Views Don't Make Any Sense
That's not a harsh assessment. It's just a fair description.
Derek Thompson 
July 15, 2014
Millennial politics is simple, really. Young people support big government, unless it costs any more money. They're for smaller government, unless budget cuts scratch a program they've heard of. They'd like Washington to fix everything, just so long as it doesn't run anything.
That's all from a new Reason Foundation poll surveying 2,000 young adults between the ages of 18 and 29. Millennials' political views are, at best, in a stage of constant metamorphosis and, at worst, "totally incoherent," as Dylan Matthews puts it.
It's not just the Reason Foundation. In March, Pew came out with a similar survey of Millennial attitudes that offered another smorgasbord of paradoxes:
  • Millennials hate the political parties more than everyone else, but they have the highest opinion of Congress.
  • Young people are the most likely to be single parents and the least likely to approve of single parenthood.
  • Young people voted overwhelmingly for Obama when he promised universal health care, but they oppose his universal health care law as much as the rest of the country ... even though they still pledge high support for universal health care. (Like other groups, but more so: They seem allergic to the term Obamacare.)

This is all very confusing. Perhaps it should be when we're using a couple thousand subjects to guess the collective opinions of 86 million people. What are we sure we know about Millennials? Two big things and one small thing.
1. Millennials are more liberal than the rest of the country, particularly on social issues, but they get more economically conservative when they make more money.
The youngest voting generation today is the most liberal bloc in a long, long time for three reasons.
First, they're young and poor, and young, poor people are historically more liberal. Second, they're historically non-white. Non-white Americans are historically liberal, too. Third, their white demo is historically liberal compared to older white voters, as Jon Chait has pointed out. It all adds up to one cresting blue wave. For now.
But something interesting happens when Millennials start making serious dough. They start getting much more squeamish about giving it away.
Richer Millennials on Redistribution: No, Thanks
2. Millennials don't know what they're talking about when it comes to economics.
Young people lean way left on issues like gay marriage, pot, and immigration. On abortion and gun control, they swim closer to the rest of the electorate.
But on economics, they're all over the map. You get the sense, reading the Reason Foundation and Pew studies, that a savvy pollster could trick a young person into supporting basically any economic policy in the world with the right combination of triggers. Conservative and liberal partisans can cherry-pick this survey to paint Millennials as whatever ideology they want. To wit:
On spending:
Conservatives can say: 65 percent of Millennials would like to cut spending.
Liberals can say: 62 percent would like to spend more on infrastructure and jobs.
On taxes:
Conservatives can say: 58 percent of Millennials want to cut taxes overall.
Liberals can say: 66 percent want to raise taxes on the wealthy.
On government's role in our lives:
Conservatives can say: 66 percent of Millennials say that "when something is funded by the government, it is usually inefficient and wasteful."
Liberals can say: More than two-thirds think the government should guarantee food, shelter, and a living wage.
On government size:
Conservatives can say: 57 percent want smaller government with fewer services (if you mention the magic word "taxes").
Liberals can say: 54 percent want larger government with more services (if you don't mention "taxes").
Some of these positions suggest, rather than prove, utter incoherence. For example, you can technically support (a) reducing the overall tax burden and (b) raising taxes on the wealthy by raising the investment tax and absolving the bottom 50 percent of Social Security taxes. Somehow, I think what's happening is simpler than young people doing the long math of effective tax rates. I think they're just confused.
Overall, Millennials offer the murky impression of a generation that doesn't really understand basic economics. To be fair, neither do most Americans. Or many economists, perhaps. Or most journalists. Economics is hard.
3. Far less important, but entertaining nonetheless: Millennials don't know what socialism is, but they think it sounds nice.
I predict that any readers over the age of 30 will absolutely love this fact about voters under the age of 29. Forty-two percent of Millennials think socialism is preferable to capitalism, but only 16 percent of Millennials could accurately define socialism in the survey.
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Also See:

So ... What's With The Millennials?

(Part 1)
10 August 2017
https://arcticcompass.blogspot.ca/2017/08/so-whats-with-millennials.html
and

Older White Generation Voted Trump!

12 November 2017
and

The Me-Generation is Growing Up!

13 June 2016
and

The Precarious World of Teenagers!

02 April 2009
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Is Bitcoin in a Bubble!

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PETER SCHIFF - Bitcoin may look profitable, this is a trap that you should never be fooled by
Published on Aug 15, 2017
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Is Bitcoin in a Bubble?
Silver Fortune
Published on May 23, 2017
The value of Bitcoin (BTC) has exploded in the past month, driving the price over $2000. Is Bitcoin in a bubble, or will it continue higher in the future? Thanks for watching!
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Bitcoin SUCKERS RALLY now under way
TheHealthRanger
Published on May 25, 2017

Recorded 5/24/2017: The Health Ranger explains why the current Bitcoin bubble is a speculative "irrational exhuberance" sucker's rally that's going to burn most of the noobs who are buying in.
Learn more at 
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THE BITCOIN BUBBLE - Andreas Antonopoulos
London Real 
Published on Aug 25, 2015
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Is Bitcoin In A Bubble? Yes or No?
by Matt Sherriff
Posted on June 14, 2017
Is Bitcoin in a bubble? That is question on many peoples minds, especially those reading certain headlines.
As Bitcoin continues on a bull trend the question of bitcoin being in a bubble continues to arise. There are multiple factors attributing to this and we are going to go through a balanced argument and come to some kind of conclusion. Everybody has their own opinion in the market, some argue for the bubble, some against, others are impartial.
Bare in mind, I won’t get to my opinion until the end. I am going to highlight some main arguments being made for both sides.
So let’s look into some things pointing to Bitcoin’s bubble.
Yes, There Is A Bitcoin Bubble
Historically when asset classes, stocks, companies etc rise at an alarming rate they are in for a harsh come down. There has been a lot of talk about the tulip mania centuries ago to explain what is happening. The story in short; there was a time where tulips became very popular and a hot commodity. High value was put on them and they were being traded for goods/services and certain individuals were even paying a high price for them just to have. The tulip bubble burst and they became a regular flower once again. Some are saying this is the same type of thing with Bitcoin, a time of hype and headlines driving the price. I will explain my personal opinion later but tulips make for a terrible form of currency, so it’s much different.
There is a lot of speculative investing going on. People are not getting into bitcoin for it’s first purpose; as it’s made for transactions and illuminating the middle man when moving value digitally. It is not being used for your morning coffee or bacon at the store. Many individuals are getting involved on the premise that it will continue to rise and not necessarily understanding its underlying purpose.
It isn’t real. Gold is physical, resilient and hard to lose. Bitcoin is in digital space, easy to lose and even if you cold store it (in a offline wallet) securely and is not that easy to use. This bubble stems from a lot of hype and there will come a pop once the trend dies off.
No, There Is Not A Bitcoin Bubble
Bitcoin is a true supply and demand platform that is not manipulated like central markets. The term ‘bubble’ has been applied to centralized markets which have been stretched and over leveraged through a fiat system which operates differently.
There is a limited supply. Scarcity is built into the bitcoin framework as there will only ever be 21 million mined. As I write this, just over 16 million have been mined, so stretching this network past a certain capacity is not possible.
The security of the blockchain is high level. The decentralized network works well with security and extremely difficult to hack because of how verification works in the network through consensus of machines all over the world. Security helps with trust. Trust is the aim of the game with any currency.
The world has never seen something like this, a decentralized value of exchange, which the world is slowly waking up to. The fact the market is reacting like this is something which could not be predicted.
My Conclusion | Is Bitcoin In A Bubble?
I see an interesting pyramid that has occurred over the years. Tech people are at the top of the pyramid as they have been pushing and holding cryptocurrency because they understood its value and the fact it is a solution provider. Those people understand code and crazy computer crypto graphical stuff. The next people are not the coders, but big picture thinkers that can see the power of this and get behind it, buy it and hold it. The next set of people are everyone else who waits for it to get big, or somewhat big, and then jump in. I believe I am somewhere in the sentence before the previous one. All things considered, we are still at the very early stages on this industry. Just like the internet in the 80s started out with a lot of hardship and different views, we are in a much different place with 4G data and wifi hot spots. The same change and innovation will happen with blockchain technology and decentralized currency, it’s just a matter of where it’s heading. The future is an exciting place.
**Don’t get me wrong, it is an amazing time to get into the cryptocurrency market. Speculation comes when this happens, “I’ll throw a little money in bitcoin because it seems to be doing well, let’s see how it goes in the future”. That is all well and good, but that’s speculative. What I am trying to say is that the uninformed using this as a pure investment tool could have a speculative mindset. For me, bitcoin is a borderless currency that governs itself, I like having some of the as my currency.**
Furthermore, more and more hedge funds are getting into this space to diversify their portfolios into the digital asset space. That’s always an interesting factor when looking at trends and money being injected into the market.
In that sense, I believe that Bitcoin is in some kind of bubble as I think a lot of people that are involved don’t truly understand what they have in their hands and they are speculatively investing because they see the hype, growth, upwards trend etc. That is why I make a lot of content to hopefully help people understand this space either before or after they get involved with cryptocurrency to know that there are a lot of factors in play going forward.
At the same time, Bitcoin is a beautiful supply and demand market that reacts very authentically with the factors attributing to it as it’s decentralized and cannot be manipulated. The term “bubble”, like I mentioned above, has always been applied to over stretched markets through our centralized systems. We have never seen this type of movement or market before. The housing market in 2008 collapsed because it was over stretched and was far from authentic or transparent. If the ‘Bitcoin bubble does burst’, it will be for very different reasons which is why I don’t think the general term ‘bubble’ can be truly tied to what we have here.
Analyzing trends; supply is capped, demand is rising, security is crucial, trust is paramount so it’s interesting to think what will happen in Bitcoin’s future. Keep in mind, after every bear run (increase in price over time), what happens? The bear comes rolling down the hill (decrease in price). And there is nothing wrong with that, the market goes up and down, but thinking what will happen in the years to come is the real question?
Bitcoin has a bumpy road ahead of it as developments and innovation will take place to improve what it is. All I know is we are at the dawn of one of the largest transfers of wealth in human history, whether that is with bitcoin, or something else in this decentralized space.
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Bitcoin’s Hidden Pitfalls and Dangers
By Tyler Cohen Wood
May 30, 2017
Last week brought news that Bitfinex, a leading Bitcoin exchange, lost an estimated $65 million due to a recent hacking incident. Bitfinex has stated that as a result, their users will lose 36% of their funds to make up for the losses incurred by the hack. Bitfinex is only one of the latest targets in hacks against a Bitcoin or online currency exchanges. Bitfinex has stated that they will eventually either reimburse users or offer stock options in their parent company to make up for the loss. Other exchanges have been forced out of business, leaving their users holding the bag. In the wake of the Bitfinex hack, people and businesses are getting concerned about the security and use of Bitcoins and other online currencies.
Bitcoin is an online digital currency that can be used to trade directly from person to person or from businesses or Bitcoin services like exchanges in order to purchase items. Subway, Overstock, PayPal, and many other legitimate companies accept Bitcoins and there are advantages to the online currency.  Bitcoin is the best known online currency, but it’s certainly not the only one.  Others include Litecoin, Peercoin, and Primecoin.
How Does Bitcoin Work?
Bitcoins are most commonly purchased using regular currency in “exchanges” like Bitfinex.  Bitcoin is a decentralized currency, meaning there is no one holder of all Bitcoins, which sets it apart from banks and other “brick and mortar” financial institutions.  If an exchange gets hacked and the losses are substantial, users run the risk of losing either a percentage of or all their Bitcoin balance in an exchange, as could be the case for users of the Bitfinex exchange. Cyberattacks on exchanges occur fairly regularly.
Most users access Bitcoins using a “wallet”. The wallet is a user interface that shows a user’s Bitcoin balance, can create user account addresses, and also contains the secure encryption keys that authenticate each transaction. Transactions are verified by the Bitcoin network and kept in a public ledger which is accessible to all users, sort of like a public bank statement. This ledger is called a “blockchain”. The ledger only shows the account number and the transactions but not sensitive details about the user, such as real name, credit card info or email.
Once a number of transactions have been made the block is encrypted and moves to the next block in the chain. As more transactions are made, new blocks are added to the public ledger, like a chain, hence the name “blockchain”. A blockchain is shared by all users of the Bitcoin network, so it is difficult for a middleman to tamper with a transaction without everyone being able to notice the discrepancy.
Keep in mind, the actual tally of coins or transactions is contained in the public ledger or blockchain and not stored in the actual wallet. Some Bitcoin experts recommend that a unique address should be used for each transaction to ensure the highest level of security. Most Bitcoin wallets will create a new address each time you initiate a transaction.
Why Use Bitcoin?
There are advantages to using Bitcoin.  Bitcoins can be used in any country. Also, exchanges often do not charge service fees and if they do, such fees are usually nominal. Users can send Bitcoins from person to person, without having to go through a bank or other clearinghouse. Bitcoin accounts cannot be frozen by governmental agencies or other authorities. There is no minimum balance required to maintain an account and no other monetary limits apply. When a user buys or sells Bitcoins or makes transactions using them, the transactions happens usually within 10 minutes. Another perceived advantage of using Bitcoin is that it’s anonymous, but the true anonymity of Bitcoin users depends on several circumstances, such as the wallet used, Tor and information supplied such as a fake name or email account. You do not need to register an account with a particular Bitcoin exchange or give personal details when opening an account.
Scams
Hacking isn’t the only danger to using Bitcoin.  Like most other online businesses, scammers work in the Bitcoin realm as well.  Some better known scams are:
In 2013, a New York man was arrested in the first federal securities fraud case involving a Bitcoin investment scheme.  It was a new take on an old scam—the criminal raised money from investors in the form of Bitcoins while promising incredibly high interest rates on investments, while in reality he was just repaying existing investors with new investors’ Bitcoins.
Fake Bitcoin wallet vendors seek to attract users by offering greater transaction anonymity than a legitimate wallet. But, if a user’s Bitcoin balance in a downloaded fake wallet rises to a certain level, the scammers steal the Bitcoins.
Phony Bitcoin exchanges offer better credit card processing rates than competitors but never send users the Bitcoins they purchased at the reduced rates.
Phishing schemes target and send links to people informing them that they have “won” a number of Bitcoins. The victim clicks the link and the hacker now has full access to their Bitcoin account.
It is critical that when using Bitcoin or any other online currency that you employ a security awareness mindset. If someone offers a spectacularly high return on a Bitcoin investment or very low transaction fee on purchasing Bitcoins, you should be suspicious. As with many things in life, if it sounds too good to be true, it probably is.
Also, realize that when dealing with online currency accounts, you’re not guaranteed any reimbursement protection in case your Bitcoins are stolen.  The Bitcoin industry is not regulated like mainstream banks and investment companies are.
As with any other online technology, make sure you educate yourself on the current threat vectors associated with that technology.  If you’re a business considering using online currency, make sure you and your employees know what you may be getting into.   And remember, there is no way to guarantee that your transactions will be anonymous.

For more information on how to stay cyber safe, check out our comprehensive, award winning security awareness program:
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