The charts below show one important point of Bitcoin beauty.The supply of bitcoins are capped, unlike government fiat money. That's one of the reasons governments hate it so. If Bitcoin becomes adopted on a broad scale, it will increase in value near globally against fiat currencies whose supplies are regularly inflated.
This is why governments may attempt to try and shutdown Bitcoin in its entirety. Bitcoin (and other crypto currencies) provide an alternative to fiat currencies which can be printed up by governments without limit and used by governments for their own purposes. It will be a cat and mouse game between government and the crypto currency world as to whether Bitcoin survives on a mass scale. Will Bitcoin and/or other crypto currencies be adopted on such a large scale that it will be difficult for the government to try a total shutdown because strong political interests will begin to benefit from Bitcoin? Or will governments use the iron fist to stop Bitcoin before strong political interests develop to support Bitcoin?
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| Money growth of the US government controlled fiat currency, the dollar. |
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| Capped growth of Bitcoin. |
Bitcoin's sole value at this point is that it is worth something in US dollars (or the equivalent in something else).
ReplyDeleteThe US government need only refuse SWIFT access to any bank that agrees to hold an account for an exchange. This will instantly cut off bitcoin because the banks cannot afford to be cut off from SWIFT and if they were, then the exchange would be useless anyhow.
This is exactly what the US is doing with Switzerland et. al. to try and catch Americans hiding money, but they have also done it for other purposes in the past as well.
Until, and unless Bitcoin becomes a medium of exchange for goods, that can buy staples like groceries and gas, the government can shut it down. And since they can easily block staples from being bought and sold in bitcoins except on the black market at any time they wish, they can take it down and make it a niche any time they wish.
This will happen when the hyperinflation that is coming starts to occur because it will create a huge black market in bitcoin.
This will be accelerated by the release of new nickel-based cold fusion power sources announced yesterday which are 1000x more power dense than gas and can produce more energy than is required to create it by a factor of 400 (Which is about 100 times more efficient than oil.) The result will be a collapse in the US petro-dollar because nothing will back it any longer as oil is quickly dropped as an energy supply.
See here for details: http://www.extremetech.com/extreme/156393-cold-fusion-reactor-independently-verified-has-10000-times-the-energy-density-of-gas?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+ziffdavis%2Fextremetech+%28Extremetech%29
James the nuclear shill is wrong. Bitcoin has inherent value outside of the worthless printed pieces of paper the US government calls money but really aren't. Money holds value over time, so USD is not a true store of value, in fact having lost 97% of its value since the inception of the jew controlled federal reserve came into existance. Bitcoin has increased in value over 12500% in the last 2 yrs, so James is just jealous that he hasn't been on board and realized the value of a apolitical, cryptographic currency that cannot be controlled by a bunch of government thugs. Let the banksters cut off the SWIFT wire transfer system to bitcoin exchanges. It will just show how desperate they are and how powerful little old bitcoin has really become.
ReplyDeleteToo late james the bitcoin has already become a medium of exchange for groceries, merchandise, gas, etc. I just purchased $2000 worth of items on amazon using BTC. If you have any internet savvy which you obviously don't, bitcoin can be used as a medium of exchange for literally thousands of online and brick and mortar retailers. so sorry james, but the horse has already left the stable. no going back now. anything the government tries to do now will only give BTC more attention and power and validate what the honest money movement has been saying all along. That since the bretton woods agreement between the international jew bankers and the United states, the dollar has lost its entire value against honest money competition like gold and silver
Oh, and james take your nickel based cold fusion and stick it up your A**. it will never happen. its just more pie in the sky hype from types like you who think fusion is just around the corner. look what they did to cold fusion James, you think these banksters and ruling elite will let "nickel based" cold fusion come to fruition. you really are naive. get a life
Wow, Bitcoin shutting down and cold fusion all in the same post. Should I believe both will happen at the same time?
ReplyDelete"The US government need only refuse SWIFT access to any bank that agrees to hold an account for an exchange. This will instantly cut off bitcoin because the banks cannot afford to be cut off from SWIFT and if they were, then the exchange would be useless anyhow."
ReplyDeleteJames, I suggest you look up Satoshi Square.
Very hopeful, but Satoshi Square is kind of like bringing a knife to a gunfight.
DeleteThe banksters are watching...
Governments will tolerate Bitcoin so long as all online transactions can be tracked. Satoshi Square is a great idea but doesn't it require a personal presence to trade? If so what's the advantage over precious metals?
ReplyDeleteGovernments in general should prefer purely digital currencies anyway, because they don't like untraceable physical currency. So they might be willing to tolerate digital peer-to-peer currencies for a while until figuring out the best ways to control digital cash, and then phase out paper money and coins altogether. Just a thought. I don't own any Bitcoin, but just contemplating how many in the liberty movement have benefited from its increase in value makes me happy.