In the current global financial turmoil, Bitcoin has taken the world by storm by creating an alternative to our current currency model that can easily be manipulated by global financiers. It is an online digital commodity that’s based on an open-source, peer-to-peer encryption protocol.
(I know…nerd language.) But really you just need to understand the concept.
What makes Bitcoin so appealing to people is that it is not managed by any government or central issuing authority the way the dollar is. Instead, it relies on an Internet-based network. The creation of new bitcoins is automated and given to servers aka “bitcoin miners” that confirm bitcoin creation.
So as more people buy Bitcoin, more are issued. The Bitcoin network is programmed to increase the money supply as a geometric series until the total number of Bitcoins reaches 21 million BTC.
Currently there are 25 Bitcoins generated every 10 minutes. And this amount will be halved to 12.5 BTC within the year 2017 and halved continuously every 4 years after until a hard-limit of 21 million Bitcoins is reached within the year 2140.
Interesting, right?
So it’s a system to create a currency that should always have real trading value, instead of creating exponentially more of the currency so you get inflation and less trading value. I suppose it is similar to gold and silver but gold and silver can still be massively manipulated.
But here is the situation…..
This currency has exploded in value creating a Bitcoin bubble. One has to wonder if that was the goal of the creators OR if the system was intentionally blown up by the global financiers in order to destroy it’s credibility and the future for any currency that dares to stray from the clutches of the global financial controllers.
OR, is The Bitcoin Conspiracy a conspiracy in itself. Perhaps the goal is to get people to think global financiers destroyed Bitcoin to get momentum and support behind Bitcoin. Afterall Bitcoin would be a “global” currency and isn’t that the goal of the NWO?
Who controls the creation of Bitcoins? And can’t the value of Bitcoin easily be manipulated with flash trading. So isn’t it a terrible idea to begin with?
Originally I supported Bitcoin, but I no longer do. It allows a handful of unknown people to have way to much control over the value of our labor aka our money. It is actually even more dangerous than our current fiat currency.
The price of Bitcoins has plunged more than 70% in the past two days, and now trading platforms can’t even handle the number of people scrambling to sell.
Bitcoins were down to $77.56 as of 3 p.m. ET Friday. Prices reached as high as $266 per Bitcoin on Wednesday. But the price started to fall through the rest of day and Thursday morning.
The massive spike and crash of the currency proves that even an online open source model independent of the IMF is very vulnerable to manipulation right?
Yeah, it does, but did someone intentionally sabotage the currency? The big banks obviously have the money and resources to start buying up Bitcoin and driving up the price and then dumping the currency creating a massive panic.
Mt.Gox is a Japan-based exchange that claims to handle 80% of Bitcoin trade worldwide. They issued this statement Friday:
“The rather astonishing amount of new accounts opened in the last few days…made a huge impact on the overall system that started to lag,” the exchange said. “As expected in such situations, people started to panic, started to sell Bitcoin in mass…resulting in an increase of trade that ultimately froze the trade engine.”
Contributing to the idea of conspiracy the exchange had to shutdown from the cyber attacks that hit Bitcoin sites earlier this month.
When trading resumed on Bitcoin prices continued to fall. Since the peak on Wednesday, owners of Bitcoins have lost more than $2 billion combined.
The chilling prediction one day before
I actually was listening to Mike Adams of Natural News on InfoWars the day before the crash happened predicting the imminent massive free fall. Mike Adams has been an incredible investigator and news source about ongoing global situations like this.
Bitcoins have been surging beyond $200 amid mass speculation and bandwagon investment, but as of this writing bitcoin value has dropped from $266 to a low of $105 — a crash that was predicted verbatim just several hours before by Mike Adams of NaturalNews.
…as predicted by Mike Adams just several hours beforehand in his article “How the looming bitcoin crash will be exploited by globalists to outlaw decentralized crypto currencies”, bitcoin holders have entered a nightmare scenario sparked by what appears to be individuals purposefully attempting to devalue the currency…
“Eventually it’s going to crash hard. I bet my reputation on that, Alex. I am 100% sure we are going to see a massive bitcoin crash at some point with an ultra-accelerated velocity. It will be the fastest crash of any currency in the history of human civilization. It will be a high-velocity crash. People are buying bitcoins who don’t know what bitcoins are and who have no use for them. These are speculators.”
Who created Bitcoin?
In 2008, Satoshi Nakamoto published a paper on The Cryptography Mailing list at metzdowd.com describing the Bitcoin protocol and in 2009, the Bitcoin network came into existence.
It appears that Satoshi Nakamoto is just a Japanese pseudonym so it’s a bit curious that we don’t have the name of an actual person.
But we know that MtGox has been the most widely used bitcoin currency exchange market and MtGox was originally started by Jed McCaleb in July 2010, and was sold to Tibanne Co. in Japan in March 2011. So that may be a clue.
Keep an eye on this situation. There is a lot going on here.
Update 2:10:2014: Bitcoin crashes
So the geniuses behind Bitcoin claim they have no clue where all your money has gone. The collapse of the Mt. Gox bitcoin exchange on February 10th was very predictable. The currency has even LESS transparency than our current currency.
And now there is talk of ‘regulation’ and ‘supervision’. Whenever regulatory agencies get involved, it’s all over. Regulators always work for the industry they regulate. They also give a false sense of transparency. So the crash gives great rationale to ‘regulate’ this global digital currency.
“We still have not had a clear grasp of the situation,” Finance Minister Taro Aso said on Tuesday after a cabinet meeting. “(We) don’t know if it was a crime or just a bankruptcy.”
Mt. Gox filed for bankruptcy protection in Japan on Friday, saying it lost 850,000 bitcoins due to ‘hacking’ into its faulty computer system.
So this currency billed as “Libertarian” and the answer to our corrupt Federal Reserve is global and is very easy to manipulate by malevolent would-be dictators.
Welcome to the New World Order….
Many years ago in, ’72, I read a book, “None dare call it conspiracy”. I was young and it shocked me to the core… but I soon got back to surviving and growing as an artist in a well known art colony. In the ensuing years I followed a national radio talk show host… that was a great ‘diversion’ to help me forget about that scary little book. Several years ago several things came together to bring me back to the ugly facts of history and our present world first exposed in to me that book. Now, I don’t give a hoot if you think my views are typically crazy on the obvious conspiracy (a word charged with programmed responses) that are at work throughout the globe. This has all been an introduction to my saying that knowing what I do now, my first hearing of Bitcoin gave me goose bumps and not the good kind. I had been waiting for the digital, debit card, setup that would render us totally vulnerable to absolute control… well only if you need to EAT, have shelter, transportation, clothing, medicine.. well you get the picture. To me thie could be any number of things… first and foremost it seems a Beta test for a global-digital monetary system. I find it hard to believe any Libertarian could find it desirable… there’s not a lot of thinking going on out there. Come on people!