Gold, and to a lesser extent silver, is the traditional hedge against fiat currency debasement. Debasement is the essential policy (both by design and by necessity) of pretty much every central bank in the world. The hard money advocates and gold analysts have been talking about this for decades, ever since President Nixon ended the last vestige of gold backing for the USD by unilaterally taking the country out of the Bretton Woods agreement in 1971, on the advice of Milton Friedman and future fed chairman Paul Volcker. (That this counsel was some of the most horrifically bad economic advice…

Fixing Broken Money to Fix a Broken World

The War on the World

As you read this, governments around the world have declared war on their own people and economies in the name of fighting a germ. They've dropped the policy equivalent of a reverse neutron bomb: something which destroys the economy while supposedly leaving human beings unharmed. Small business, the middle class, and the value of the currency will be among the casualties, not to mention civil liberties. But what if there were a way to hedge against these dire events that actually becomes even more effective the worse things get?

Well there is…

We’ve started a YouTube channel for Ascension!

Some people prefer to read about ideas and issues which interest them. Others prefer to hear about them. We prefer to write, rather than make speeches. But thanks to the fast-evolving ability of text-to-speech engines, we’re actually able to write video scripts which are translated into animated videos with understandable voice-overs, and sometimes even decent delivery.

Our first two videos are now up on YouTube. The first is a short intro to the second:

The main video, which we’re calling Episode 1, is the first in a series of Socratic dialogues between two characters named Rosencoin and Guildenchain (with…

Is the US Federal Government Truly Relevant to the Future of the Crypto Industry?

Feds Running Scared

Our previous article detailed our evaluation of Facebook’s Libra currency proposal. We see it as both providing some validation for our own project, as well as an opportunity to make our own Lyra much better than Libra ever could be. The US government wasn’t far behind in offering its own opinions, which amount to the kind of threats issued by bullies who are frightened their dominance is being challenged. Treasury Secretary Stephen Mnuchin held a crypto-fearmongering press conference, calling cryptos “a national security issue.” The G7…

Lyra is Libra Done Right

What’s In a Name

More appears to be in common here than just a name starting with L and ending with -ra. It’s almost enough to make us think the folks at Facebook read our Dec. 2017 white paper. (Perhaps they did, but we don’t flatter ourselves.) Still, there are clearly a number of common aspects. Like Lyra, Libra is an asset-backed stablecoin purchased into existence by customers, which uses a blockchain for specific purposes (but as a means, not as an end in itself), and circulates among wallet clients linked together by a federated XMPP network. …

The Problem We Can All See

Today one singular assertion is accepted across the political spectrum, from progressives to alt-righters: the current economic system works only for the top 1%, and essentially fails everybody else. This is very easy to see. In fact, it’s almost impossible not to see it, which explains the broad agreement. All you have to do is look back 40–50 years to perceive what’s happened with economic outcomes. For example, here are wages in the USA from 1964–2018:

Why did this happen? The short answer is: because of financialization and inflation.

What We Have

This is the inaugural posting for the blog of the Ascension Foundation, e.V. We are a long-established project in the cryptocurrency space, but not just another blockchain company or altcoin. We began our earliest design work in 2008 (before Satoshi’s Bitcoin paper!), and today our technology stack includes:

  • A private digital cash clearing system, in which cryptographically signed vouchers represent assets and can be spent between wallets without leaving tracks on any blockchain or in any database. This transaction system centralizes clearing for speed, but also protects privacy by dividing the clearing function between the validating node and the individual…

Ascension Foundation

This is the blog of the Ascension cryptocurrency project.

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