Our Correspondent Ifafunke Balogun, the Sage of Shoreditch, reports on the WannaCry ransomware outbreak and why things don't really add up.
It may come as no real surprise the supply of the ransomware was the trick services of the United States – NSA. Apparently, these were also hacked and the malware that targets Windows was taken.
A national security agency hacked?
As reported, the attack widely impacted many countries. I felt the brunt of the attack when I was at Essen Train station looking to get to Dusseldorf airport on Friday 12 when all hell broke loose.
The German rail network on that rare day didn't run in time, yet additionally they didn't admit the problem before red outline of the ransomware sign appeared on platform screens.
Of countries, Russia and China were hit the hardest and yes the USA was hit minimal with only Fedex apparently reporting an issue. With Edward Snowden mentioning the NSA may have prevented this attack there remain many unanswered questions.
A ploy led by the US government?
You've got to suspect this can be a big ploy by the US government led by the SEC and other concerned parties to discredit Bitcoin, by association. The ransom is Bitcoin after all. Ignoring the actual fact probably the most used currency that funds disruption and bad things could be the US dollar.Yes, Bitcoin was chosen for payment of the ransom because it's supposedly easy to setup and is technically anonymous, but those in the neighborhood all know this isn't true. And all Bitcoin transactions leave a trail.
Is the actual fact the NSA might have prevented this and the truth that the US wasn't really impacted the biggest clue of most?
The accusations that China and Russia are hacking the entire world and concentrating on the USA seem to operate counter as to what we've witnessed this weekend.
Strange, the malware targets those computers with Microsoft, still probably the most popular computer software. And yes, probably the most hacked given age a few of the implementations at the UK's NHS that run Microsoft XP, can you believe, and then a UK Government's claim they are buying the NHS and hospital care.
All of it seems somewhat odd and doesn't resonate with the punters which have had their operations delayed and left hanging on, stressing something that's already creaking at the edges, the sides, the guts and the core.
And yet, these ransomware attacks and the fines being asked pale in significance in comparison to bank crimes by those inside and the fraudsters that attack them every day. Billions taken, lost and removed but then a money they take isn't a real money as we know.
Scaring people off
So, it is just a ploy to discredit Bitcoin, the crypto community.
A community that's now vast, growing rapidly and touching everything. Some sort of that provides desire to individuals and spells problems for anyone trying to help keep power.
It's overwhelmingly a ploy especially given the SEC's position since they are those who find themselves pushing the EU and ECB to start blocking (regulate) users of cryptocurrency, in a vague try to regulate it, to manage it, to scare people off.
Yet, this isn't the very first nor can it be the last time when something of the type arrives for the main benefit of individuals and not those that want control.
Yes they fail
Remember these same authorities tried to manage, regulate and influence the Internet, regulate trusted old fashioned TCP/IP and YES they failed after many attempts.
Crypto economics is for individuals, it isn't owned or controlled and it's fundamentally liberating.
It gets the potential to help the world and offer a lifeline to those disadvantaged, poor people, the less well educated.
But then a white elite don't want this as there could be nobody to complete the job and bail out the banks again as the following financial bubble hits.
With the build-up of new subprime – car loans, student loans and yes housing - it will be upon us.
Central banks are in on it
So this is actually the thing, the German central bank told everyone not to purchase Bitcoin as it isn't real.
A little rich given they've allowed Deutsche Bank to be much more than 40 times over-leveraged and on the verge of collapse that will bring down the euro considering Lehman Bros was just 30x and we all know what happened to them. BOOM!
They're stating, adhere to the euro and dollar “to guard purchasing power.” Are they mad? These currencies are falling, devaluing due to the overuse of QE and central banks that don't understand the present climate as their models don't work anymore and they know these currencies is likely to be worthless very soon.
Just how many central banks hold negative rates? A whole lot, and it's clear fractional reserve banking doesn't work and people want answers.
Cryptocurrency future is bright
The overarching strategy is apparently the authorities wanting to scare people far from Bitcoin and other cryptocurrencies, mentioning the danger, that they're not real currencies, they're the explanation for ransomware and a bubble planning to go pop.But why then are most central banks, governments and larger banks associated with cryptocurrencies, investing heavily with many citing it as the ongoing future of capital markets?
Are we really to trust anything the FED, SEC, EU, ECB, BoE and FSA says in the era of “fake news” or politically aligned agendas?
They know the “worm has turned,” demonstrated by Trump and Brexit effects, where the great majority of middle classes which have been asked to close the deficits and buy bailouts are disillusioned with decision making, have lost faith and trust in the political systems and won't take the “mess” anymore.
End of banking
As I've said before, another crash will spell the conclusion of banking in its current form. The final nail as people won't stand because of it, as few are held accountable as nothing changes once we go from crisis to another, and governments are apparently asleep at the wheel - with one eye open.Crypto is really a new hope, an equalizing effect clear of government tampering, with no idea of credit or debt where all transactions are transparent, guaranteed and auditable, leaving no room for the boys club and mates to take advantage of a rising or falling market.
It's time to Buy more Bitcoins, not less, if for no other reason than organizations and governments who're now stockpiling the crypto to have the ability to pay ransoms, because they continue steadily to leave their systems vulnerable and open for the private data to be hacked and our lives altered.
Organizations run by bureaucrats whose only remit to try to stay power and have no idea what's really coming.
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