The ‘Digital Cash’ phenomenon has neatly divided the world into three groups, the largest of which has no idea what on earth is going on with this Bitcoin business, is it too early to get, is it too late, could I have had Ferrari if I listen when Mike tried to convince me to ‘invest’ my pension like he did.
The second group, of course, are the ones who did ‘invest’, and are now multi-many moneys. Good for them. The third group will be the miners, the ones who invested in technology to play the numbers game. They are now threatened by the principal of diminishing returns: the fractional coin earned per transaction and the energy and hardware cost of processing that fraction, becomes uneconomical. There are virtually no new players, although small-time (crooked) players are using unused time on idle computers to mine tiny fractions, which are then hijacked without the computer owner even knowing they are miners.
There is a fourth group that still wonders when the large, soft, squishy orange fruit will connect with the blades of the gigantic turbine that is the International Bankster club. You see, not only are these bitcoiners trying to use money without borrowing it at interest, they think they can do this without banking fees! Do you know who else tried that? Gadhafi, Hussein, Assad, Hitler. Yamamoto had his entire High Command waiting on a flight deck ship in the Pacific, ready to sign the surrender as negotiated with the Americans. …then Hiroshima happened, then Nagasaki. Where exactly did those two bombs fall? That’s right, on the banking district and financial headquarters of Japan. Not army bases, or airfields, no, banks.
Do you still feel like participating in a scheme where you can buy things all over without paying banking fees, duties, taxes, bank charges, excise duties, finance charges, insurance fees, credit charges, exchange rate differentials… Do you really think you want to shove the finger to an industry that killed Muhammar Gadhafi because he announced his willingness to sell oil for gold or any other useful currencies? You still think Saddam Hussein had such big cannons? He was trying to convince Saudi Arabia and other Arab countries to join the growing group of countries signing up for a Dollar-independent economy. Alsooo...they were not going to ‘automatically’ renew oil licenses, everything was to be put on auction. This club included, at the time, Iraq, Iran, Syria, Libia, Tunisia and Egypt. Does this list of countries look familiar? Today, March 20 2018, what is going on in all those countries? The only reason America has not attacked Iran yet, is that Iran might have nuclear weapons, but this time no-one is going to slip up and give it to the Yanks, thank goodness and send a prayer, but the Yanks are not giving up. Turn on CNN right now, if it takes more than 20 minutes to insult or threaten Iran, let me know and I’ll send you a million.
Okay, so let us not talk about war. Let us say that, tomorrow, JP Morgan wakes up with a smile and announces we are allowed free and unfettered use of Bitcoin. In South Africa, you have to pay provisional taxes on Capital Gains every six months. Do you realise what that means in back taxes? All those transactions you made with your virtual currencies; did you declare them at the border, paid your taxes and duties? Even if just from a Joe Soap Taxpayer point of view that knows nuthin’ of finance, where are my taxes? We could be ‘building schools’. My kid goes to the shop to buy soda and sweets, and she pays 15% tax, right there and then, where are those hundreds of billions of Bitcoin Billionaire profits…and the income and capital gains taxes from that? Hmmm? You think no-one is going to come after that?
Of course, the player most upset by this Bitcoin nonsense, is The Bank. The only solution for this potentially murderous and catastrophic bank-disinterventionism, would be for The Bank to take over the game. They can buy it all up, but only after they have crashed it to worthlessness; The Bank did not become The Bank by buying dear. Remember what happened on the London Exchange the day Waterloo ended? Some say that was The Bank’s first success at taking over World Finances, which they still administer through The IMF, the World Bank, World Wildlife Fund… what? Yeah, they are big, they are clever, and they have Resources; At the 2017 Davos Summit, the question of Bitcoin was first ‘taken seriously by the establishment.’ Not my words. The result was that a think-tank was to be set up to ponder the question. After all, Davos is merely a presentation of Words To Use In Front Of The Public. Our second-tier leaders get together for a moerse party and presentations by ‘experts’ and ‘business leaders’ and Hollywood starlets and whomever is trusted to deliver keywords and indoctrinatory concepts to be implemented by our governments as ‘progress’. Sustainability. Non-correlated Assets. Economic Growth. Population Control. De-radicalisation of the Conversation.
Investigating the Crypto-phenomena and how best to respond, was the task given to the Think-Tank. They have already come back with some threatening suggestions, but closing the scheme down is not forthcoming. We know they have the legal means to legislate it out of the economy. We know they have the technical ability to trace every single coin, every single transaction, to every single user, EVER. That was the only promise Bitcoin originally made: Perfect Traceability. The anonymity and privacy nonsense that was later claimed, turned out to be apps and e-wallets infected with IMF viruses. That was the first recommendation of the think-tank: infesting all wallets to enable better tracking. But still, unless you have millions to steal, hundreds of millions, they seem to leave you alone. There can be only one reason they are not clamping down yet:
Elsewhere on this website we have a rant at the very many ways that cryptocurrency is a potentially disastrous model for stealing entire pension funds from right across the globe. Every day there is a ‘debate’ on the news about cryptocurrencies. Is it money, tokens, a ‘store of value’ or a currency? So far, institutional investors has steered clear of the obvious legal hurdles in spending our pensions on ethereal assets. They have, however, recently been given precedent by a JP Morgan shill investing, with the excuse that, because the price is independent of the stock market, bond market or any other market, it is a good hedge, a risk distributor, an Uncorrelated Asset. Now, the pension funds will start flowing. The day it crashes, well… bye-bye pensions. Everybody’s pensions! The most important thing to remember about a pyramid scheme is that, when it folds, the Public Prosecutor demands everybody gives back every red cent they got out, disregarding anything you paid to join, back into the pot, and after all fines and fees and finance charges are deducted, everyone gets a share of the seven bucks left, shared amongst a couple of how many people?
I see in Bitcoin, unless it is closed down immediately, the ‘financial Vehicle’ with which They are going to mop up the dregs of middle-class wealth: the meagre pensions already eroded by finance charges, inflation, currency devaluation, medical costs and new taxes. They have already spent a more-than-excusable part our future on Futures, a market where people trade in fictitious profits that they swear will appear in the future. Their next coup was creating the Derivatives Market, a scam where those with the ‘right’ to create these ‘financial vehicles’ make some stupid bet, draw up a contract, then sell shares in the future profits of the bet. If this is not enough, they convince people that this is an asset that can show growth! You can bet on the exact date of the extinction of a species of grasshopper in the Amazon. The economists did a splendid job of convincing fund managers and government regulators that these are the things our pensions have to be ‘invested’ in. So, already there is no real value left to the poor and middle classes, and what’s left in our hand, for that little we are looking for that One Thing that will save what’s left of the life we thought we are building before the ‘Financial Crisis’. We are going to be encouraged to ‘invest’ in Bitcoin for a short while still; there’s still way too much money under the collective mattress, and it all needs to belong to the One King.
So, to sum up, I will partake in cryptocurrency only after is has been okay’d by the people who feel happy shooting little kiddies using machine gun bullets made of radioactive scrap metal, just because it is so expensive to responsibly throw away depleted Uranium. The same people who did not know what to do with the highly corrosive fluoride wastes of their mega-industries, so they told us it’s good for our teeth and now we throw it into our own drinking water, willingly, begging for it… the Nazis used fluoride in the water to keep their inmates calm and subdued, you know? And it is very bad for the bones, teeth, brain, kidneys, liver, pancreas, lymph nodes, arteries, heart…
Update November 2018:
A Crypto-currency Futures Market has been set up. In other words, someone has been given legal sanction to provide us with a betting platform onto which we can dump real money in exchange for a virtual promise of artificial profits. The market is not open to you and me yet, and I quote "the contracts are still out of range for the average investor". In real terms, this means they are busy building up a "history of performance for the asset". They are putting a price on a non-existent asset, then they sell it amongst each other for a year or so, then they will "allow" a few million worth to escape into smaller funds, where they wil be allowed to "appreciate', become more expensive, and in about three years' time, you will be able to dump all your hard-earned money onto your own broker's lap, and he will go buy you those marvelously profitable crypto-based equities. Note that you wil not actually own any Bitcoin, you are not invested in Bitcoin, you are partaking in a massive institutionalised bet on the movement of the price of a non-existent asset.
Good-bye to the last public and private wealth still left outside the JPMorgan/FED mafia bankster system!
Update August 2019.
The FED has sent "tens of thousands" of warning letters to Bitcoiners, regarding the little issue of outstanding taxes. On what is essentially play money... In the meantime, Mark the Suckerbug has been dipping his hand in cryptocurrency, as has some other large pools of money, but the FED is adamant about owning that One Coin. While and whereas the grandscale theft of public moneys continue unabated, the 'Fracking Revolution" is sure to give birth to a digital derivative soon. There goes your great-grandchild's birthright.