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*Mike Malloy* should be Mike Maloney
https://www.youtube.com/watch?v=apmw2wFzxfM
After plenty of research on this topic, the pandora’s box has been opened. There are lots of other cryptocurrencies out there now. Even if bitcoin crashes it wll not stop the others. Never put all your eggs in one basket. Back your portfolio up with some silver and gold and a variety of cryptocurrencies. Currently the global kabal still manipulate real estate, metals and fiat system. These other cryptocurrency they don’t and can not. Check out Mike Malloy’s videos on this topic. Do your own research on this topic.
The Jews are pumping it so they can burn it all to the ground and eliminate competition.
Litecoin went up ~400% today… Just sayin…
It’s kind of Richard to warn the Altright. Some people say Bitcoin is 21st century gold: it is a store of value, only a finite number is available, it can be mined, etc and real gold is dead. But the fact is there are already hunders of other crypto currencies available, why choose Bitcoin if trhere is Etherum, Lightcoin, etc, No one can come up with or produce “another” gold on the other hand.
Considereing that Russian and Chinese central banks are buying gold like crazy in the recent years, I would bet on them and buy physical gold instead to prepare against a bigger crash. Also if bitcoin crashes mostly gold will profit from the collapse – it is also possible to profit from this if you by shares of gold mining companies.
It’s the South Sea Bubble all over again!
Spencer is absolutely right when he says that a lot of people are looking to sell, not buy, Bitcoin. In that sense it is most certainly a “bubble.” People talk their book, so people who are telling you that Bitcoin is going to keep going up are saying that because they want to cash out their Bitcoins to you.
In the long term Bitcoin, or perhaps a competing crypto, will almost certainly revolutionize finance, it’s already done so. On the other hand don’t forget that these cryto-currencies require a vast technical infrastructure. In practice it is not nearly as decentralized as people think and it’s very much not anonymous either.
Bitcoin is supposed to be a currency, but it’s not being used that way. Transaction fees are way too high and right now Bitcoin doesn’t scale even close to enough to work as a currency. It cannot compete against SWIFT nor Visa/Mastercard.
Goldman Sachs just announced Bitcoin derivatives, which is amusing. I assume that big money is going to short BTC very hard in the next year. So if you’re into it, wait for a crash then start buying the dips.
On the other hand it’s certainly possible that Bitcoin is as cheap as it’s ever going to be. That seems unlikely but it’s certainly possible.
It appears right now Bitcoin is being used to launder/hide big money. Remember that after the 2008 world wide financial crash the central banks did “quantitative easing” which meant they created vast – huge – amounts of new dollars/money to prop up the banks. Bitcoin is likely being used to shift, launder, hide, etc. a lot of that money.
Also, China is into Bitcoin in a big way and could make or break it depending on what they perceive as their best interests. Crypto-currencies are the future. I’d say the one to watch is Ethereum because it’s designed to do a lot more than be a currency.
Couldn’t agree more with Spencer about Bitcoin.
Here’s another way to think about Bitcoin. Most of the real action in Bitcoin are transactions by people who do not want their cash flows traced, or made difficult to trace. For example, international drug dealers, Chinese, Russian and other oligarchs (tax avoidance), spy agencies, politicians, etc. The question is what part of the vast world economy do these types of transactions make up? If you can answer that question then you have a handle on the value of Bitcoin.
It’s an interesting question. I know an economist who many years ago wrote a book on what he termed the “grey economy”. It led to much research on this topic of businesses that are somewhat below the radar of the government, but yet not in the “black market”. His innovative ideas spawned a whole new area of economic research.
Grey economy would include everything from drug deals to something as innocuous as a barter deal between neighbors where one fixes the others house and the other fixes the first’s car.
All these transactions are grey inasmuch as taxes are not paid on these transactions (yes, barter is technically taxable), but the transactions still contribute to the economy of the country. That is, when someone grows a pot plant in their attic or basement with grow lights, they are producing value, even if it may be illegal to do so in that locale.
Thus, Bitcoin can be a tremendous engine for economic growth even as it sows havoc by facilitating arms deals for guerilla armies.
To reword your question: which has greater value: strong economies or harmonious existence?
Being that there ain’t that much harmony right now, I would venture strong economies with a strong Bitcoin market are the best bet.
But I’m STILL not advocating investing in Bitcoin. Cave-alt Emptor
Bitcoin is tiny, almost invisible, compared to forex trading.
Interesting argument for it being a psyop: https://www.naturalnews.com/2017-12-10-evidence-points-to-bitcoin-being-an-nsa-psyop-roll-out-one-world-digital-currency.html
Anything and everything having to do with cryptography has some level of NSA involvement. It’s their job, it’s what they do. I always found it funny that Tor was started by the Office of Naval Intelligence as a way to hide the internet activity of sailors, and there are NGOs – barely disguised intel agency fronts – that fund not only the Tor exit nodes but also pay for lawyers for people who run Tor exit nodes who have any sort of legal trouble.
Crypto-currency has been discussed in finance and the academic world forever, Bitcoin was just the first to really go live.
I disagree for two reasons. One of my reasons is substantive. The other reason is silly. But it’s muh silly reason, so I like it.
(1) Bitcoin is different than a tech stock investment or a real estate investment. Bitcoin can be used to buy things. So buying Bitcoin is also somewhat analogous to putting money in the bank.
People buy government bonds and buy certificates of deposit and hold on to them sometimes for years, rolling them over when they come to maturation. If that is the mindset here, then a substantial portion of investors may be interested in a long term investment, not a quick dollar.
(2) It’s always tricky to predict a future when the pattern is so obvious. Life often plays out in wildly unpredictable ways. The Alt Right itself is proof of that.
All that being said, Richard Spencer does not need my endorsement — yet, I wholeheartedly encourage everyone thinking of investing in Bitcoin to heed Mr. Spencer’s warning.
For myself, I’d rather make money organically; slowly saving, rather than jumping on the newest craze. It’s the same thing with building my character. Slow, struggling progress to try to be a better person each day. But ultimately more satisfying than always trying to be a “super-hero” doing public acts of generosity to show how “good” I am.
Slowly saving, you realize you still risk losing because of inflation, $5,000 dollars in 2008 would have had the the same buying power as 5,700, so if you have saved that money you lost $700 and turned 5,000 into 4,300
C O P E
Greed.
Bitcoin may be many things, but one thing it isn’t is anonymous.
Not by default. I’ve heard you can ‘tumble’ it for that.
Problem with this prediction is same as with normal economy. Its growth is unsustainable, its total crash is unavoidable. But the inflation phase may still last for a very long time before this finally happens.
The immediate problem I see is when it starts going down, will any exchange have enough cash (dollars, euros, etc.) to exchange bitcoin for cash? Right now they get cash and send a bitcoin – the latter are liquid and easy to get. What happens when there is no liquidity?
The enemy likes to build things up because they fall that much harder. That is what is happening to Bitcoin. It will be destroyed this time next year.