Is the Value of Bitcoin determined by Tech Billionaire Oligarchs
🛑 STOP THE STEAL 🛑
The headline today is that Bitcoin and other crypto-currencies lost $200 Billion today - over 12%. Will Bitcoin exchanges be taken off line or manipulated by the same fascistic mentality that is crushing free speech? What controls are there that keeps these investments safe from the capricious and punishing actions of the ruling class when they have no putative backstop to prevent it from happening?
The headline today is that Bitcoin and other crypto-currencies lost $200 Billion today - over 12%. Will Bitcoin exchanges be taken off line or manipulated by the same fascistic mentality that is crushing free speech? What controls are there that keeps these investments safe from the capricious and punishing actions of the ruling class when they have no putative backstop to prevent it from happening?
Them: "Hey, they are devaluing the dollar, buy bitcoin!!!
Me: WTF do they think those price increases in bitcoin come from?
Well, the whole point of bitcoin is that it's distributed and that the rulers cannot block it. You can take the exchanges offline, but other ones will pop up internationally that they won't be able to block.
At some point you will still need to bring that crypto back into a tradable currency (ex: USD). Until stores take crypto as a form of payment the gov will always have the ability to crush it regardless of what people say. If you cant cash it out into a tradable currency, its worthless.
Hard assets.
What a great way to funnel money from bitcoin to their company stocks. Keep feeding the BEAST. Greed is the BEAST.
They can and certainly do manipulate the price, they can control the fiat on and off ramps and they can control various services of the ecosystem. They do not, however, have any control over the Bitcoin in your own wallet. That is the key point of BTC, it is not perfect, but so far it's the best I have seen in regards to personal financial freedom
Bitcoin grew 200% percent in past two weeks - natural healthy growth. Bitcoin dropped 12% - fascistic manipulation by deep state.
Bitcoin is not an investment, it is a speculation and gambling, it can go to 100k tomorrow or to 0. If you want a low risk investment bitcoin is the opposite of that.
There are no preventative measures against that action, no. Sleepy and Heels Up could come out on day one and say that 'wyte popo' were the only ones that were able to invest in crypto so any exchanges into USD will carry at 75% tax on all gains as reparations. What are you going to do then?
The government is wanting to set regulations on crypto so ...
I know one thing, the owners of the central banks didn't ignore btc over the past several years.
Wasn't there just some massive crypto-mining operation uncovered?
I wouldn't touch Bitcoin with a 10-foot pole.
Buy land instead.
BTC cannot be "taken down" or directly manipulated by any government or corporation. However it is still a market, with a supply and demand. Anyone with a significant amount of wealth can impact prices by buying and selling large quantities.
Additionally, the government can restrict your ability to legally trade BTC and tax it using existing banking and FTC and SEC laws and they're working on new ones.
All this to say, the fascists can certainly manipulate BTC (and probably do), but it takes considerably more effort and cost.
The idea of not trusting something "purely digital" or "that I can't touch" makes sense, however consider that if you have a credit card, bank account, mortgage, 401k, stocks, etc, that concept applies to those as well. And cash isn't much different now either. As far as the manipulation factor, try to get $11,000 of your own money out of the bank without the US government getting involved.
I don't think anyone should invest in anything they don't understand. But rather than avoid BTC entirely, I decided to educate myself on it a few months ago and it's changed my opinion on things.
Even then, definitely don't put all your eggs in one basket.
Everybody keeps saying it's not a pyramid scheme. 🤣🤣🤣
I believe BitCoin is part of the plan for digital currency and the Great Reset -- my tinfoil hat theory.
Friday, Bitcoin hit around 40k and has since touched 30k.
I'm at a point where I don't trust anything technology/digital. If I cannot hold it and touch it, it ain't really mine.
When the dollar was taken off the gold standard, it was enormously volatile for a couple decades. Now gold has become the "hedge" against uncertainty and volatility in the world. The sage advice in the investment world regarding gold is: "If you've got none, get some. If you've got some, get a little more"
What's happening today in Bitcoin land, is major financial firms are aware that the fed is destroying the dollars buying power. Everything is played out; land, debt, stocks, precious metals... except Bitcoin. Bitcoin is the hardest money ever created. Crypto currency is a technological revolution that will do to money what the Internet did to information. Institutional investment is the part of the adoption curve that happens prior to public adoption. Public adoption is the biggest phase of the technological adoption curve. So, with the fed money printer going full speed ahead, do what they people with money are doing: buy hard assets, buy Bitcoin.
You want to get what rich people get; learn what rich people learn, and do what rich people do.