How much Crypto can you carry in your pocket?

Hackers Linked to North Korea Stole $200 Million in Crypto This Year: Report

Quote: North Korea-linked hackers have allegedly stolen over $2 billion in cryptocurrencies over the past five years, with $200 million stolen this year alone, according to a U.S.-based blockchain intelligence firm.

TRM Labs reported on Aug. 18 that North Korean hackers were responsible for over 20 percent of all cryptocurrency thefts this year.

The amount of cryptocurrency stolen by North Korean hackers this year is down from the $800 million stolen last year, but their cyberattacks are still “10 times larger” than those made by other actors, it stated. Unquote

The Physics of Fiat Currency

How much Crypto can you carry in your pocket? You can easily carry the same amount of Biden’s CBDC (Central Bank digital currency).

Here is a principle of physics: Nothingness has no mass. It cannot be seen with the naked eye. Why? Because both Crypto and CBDC are imaginary numbers, made-up numbers have no intrinsic value. The value of a fiat currency is stipulated by the government that produces it. Think: Soviet Rubles, Cuban CUC, Peruvian Soles, U.S. fiat Dollars

What is the difference between the aforementioned ‘currencies’ and outer space? I can think of none.

No hacker can rob the U.S. Treasury. Right? Wrong!

Chinese hackers stole $20M in COVID relief funds, feds say, New York Post, December 5, 2022. As mentioned above from another news source, that was a theft of money stolen from the U.S. Treasury Department.

So, are gold-backed digital currencies susceptible to theft by hackers?

Hackers can defraud merchants, but they cannot steal the physical gold. We have a GLINT account. We spend gold with a Mastercard, not U.S. currency. GLINT stores gold in a Swiss bank. The gold is insured by Lloyds of London.

Legislation to establish a GLINT-like gold-backed digital currency failed to get out of the State Senate in this 2023 Legislative Session. Lt. Gov. Dan Patrick allowed the Senate bill to die in Sen. Joan Huffman’s committee, where the bill never got a hearing.

The House bill passed easily with bipartisan support. The Senate bill, sponsored by Sen. Bryan Hughes (SD 1), was a duplicate of the House bill.

Few Texans know we have a Texas Gold Bullion Depository in Leander, Texas, north of Austin. The Texas Legislature authorized the Texas Comptroller to construct and operate the Depository in 2015.

Sen. Bob Hall (SD 2) said the big turnoff in the Senate was the idea of a digital currency. If there had been a hearing on the Senate bill, the Senate body would have approved it, and Gov. Abbott would have signed it.

Those Texas senators who feared a ‘digital currency’ are unfamiliar with the difference between a crypto digital currency and a gold-backed digital currency.

Who in his right mind would sell insurance to protect anything that does not exist in nature? Crypto does not exist in nature. It is massless and weightless.

However, a Texas gold-backed digital currency insured by Lloyds of London would protect the gold depositor from loss. Merchants that may fall victim to fraud would suffer, but not the depositors.

Former Texas legislator Tom Glass, now a candidate again for House District 17 (HD 17), understands the Texas gold-backed digital currency and labors to get it passed in a (miracle) Special Session this year. I believe in miracles.

God bless Texas. God bless Tom Glass.

John White (SD 2) (HD 33)
Rockwall, Texas