Is North Korea's nuclear sabre-rattling a smokescreen for their Bitcoin efforts?

So far in 2017, North Korea has launched no less than 12 missiles which it has claimed throughout, to be capable of delivering nuclear warheads into the territories for it's nations. The expected reaction from the international community is that of condemnation, but what if this posturing and sabre-rattling by the rogue nation is a smokescreen for it's efforts to be connected to the international economy in a means which makes it immune from economic sanctions? All possible through digital currencies, namely cryptocurrencies in the forms of bitcoins.

What is a cryptocurrency?

A cryptocurrency is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency. Bitcoin became the first decentralized cryptocurrency in 2009. Decentralized cryptocurrency is produced by the entire cryptocurrency system collectively, at a rate which is defined when the system is created and which is publicly known.

What is an Auroracoin?

Auroracoin is a peer-to-peer cryptocurrency launched in February 2014 as an Icelandic alternative to bitcoin and the Icelandic króna. They stated that they planned to distribute half of auroracoins that would ever be created to all 330,000 people listed in Iceland's national ID database beginning on March 25, 2014, free of charge, coming out to 31.8 auroracoins per person. Auroracoin was created as an alternative currency to address the government restrictions on Iceland's króna, in place since 2008, which severely restricts movement of the currency outside of the country. Auroracoin was the first of a number of country-based cryptocurrencies. By using the Kennitala national identification system to give away 50% of the total issuance of Auroracoins to the population of Iceland, a process dubbed the "Airdrop", the developer hoped to bootstrap a network effect and introduce cryptocurrency to a national audience.

DPRK mined (or stole) 11,000 bitcoins in 2017

The DPRK have been very busy in 2017, mining or stealing an estimated 11,000 bitcoins worth an estimated $200 million USD. There have been numerous reports of South Korean based BitCoin exchanges being hacked or compromised through social engineering attacks, aimed at infiltrating the seemingly secure network perimeters.

What is a Bitcoin?

Named in homage to bitcoin's creator, a satoshi is the smallest amount within bitcoin representing 0.00000001 bitcoin, one hundred millionth of a bitcoin. While wallets are often described as a place to hold or store bitcoins, due to the nature of the system, bitcoins are inseparable from the blockchain transaction ledger. Ownership of bitcoins implies that a user can spend bitcoins associated with a specific address. Bitcoin creator Satoshi Nakamoto designed bitcoin not to need a central authority. Bitcoin is pseudonymous, meaning that funds are not tied to real-world entities but rather bitcoin addresses.

What is Bitcoin Cash?

Bitcoin Cash is a hard fork of the cryptocurrency bitcoin. On July 20, 2017, the bitcoin miners voted, 97% in favor, on the Bitcoin Improvement Proposal 91. The proposal, by Bitmain Warranty engineer James Hilliard, was to activate Segregated Witness. Some members of the bitcoin community felt that adopting BIP 91 without increasing the block-size limit would simply delay confronting the issue and that it favored people who wanted to treat bitcoin as a digital investment rather than as a transactional currency. They announced implementation of Bitcoin Cash as a hard fork for August 1. It inherited the transaction history of the bitcoin currency on that date, but all later transactions were separate.

What is BitConnect

Bitconnect (BCC) is an open-source cryptocurrency which has been described as a high-yield investment program and as a Ponzi scheme.[3][4] Bitconnect experienced a major crash in January 2018 in which the market capitalization (supply multiplied by the unit price) went from $2 billion USD to $20 million USD.

What is BlackCoin

BlackCoin is a peer-to-peer cryptocurrency. BlackCoin uses a proof-of-stake system and is open-source. BlackCoin was created by the developer Rat4, with the goal of proving that BlackCoin’s way of disabling proof-of-work is stable and secure. BlackCoin secures its network through a process called "minting". Transactions in BlackCoin were called "significant" in a Citibank whitepaper.

What is Burstcoin

Burstcoin (also called Burst) is a digital cryptocurrency and payment system based on the blockchain technology. Burstcoin was introduced on the bitcointalk.org forum on 10 August 2014 as an Nxt-based currency. Burstcoins are mined using an algorithm called proof-of-capacity (PoC) in which miners use computer storage instead of the more common energy-expensive method proof-of-work (PoW) which involves permanent computational operations.

What is Dash (formerly Darkcoin and XCoin)

Dash (formerly known as Darkcoin and XCoin) is an open source peer-to-peer cryptocurrency. On top of Bitcoin's feature set, it currently offers instant transactions (InstantSend), private transactions (PrivateSend) and operates a self-governing and self-funding model that enables the Dash network to pay individuals and businesses to perform work that adds value to the network. Dash's decentralized governance and budgeting system makes it a decentralized autonomous organization (DAO).