Cryptocurrency is knocking on the door of half a trillion market cap. All of us who have had our crypto for a while are doing exuberant little dances right now. But, I have to say there's a bit of me very worried.
No, i'm not worried about bubbles, or operation donkeyfingerer, or any of that stuff.
I'm concerned that suddenly, out of nowhere, Bitcoin is all over the mainstream media, and it's getting people interested.
And the reason that concerns me is that the cynical part of me knows that the mainstream media has always been about programming people in what to think.
After the last few years of (especially in the last couple of years or so) of telling everyone that Bitcoin is the evil that should never be spoken of, suddenly Rupert Murdoch's newsfiddlers are all over it like a rash.
In the past, if ever you heard a story about Bitcoin, it was all how evil only criminal hoards of gang-raping drug barons were using bitcoin to hide their ill gotten gains from the lovely tax man, and this of course meant that the NHS couldn't afford to give little Jonny that injection that would stop his arms from falling off.
Either that, or Malware nasties were all about extorting Bitcoin from poor unsuspecting government organisations, probably caused by the Russians or the North Korean bogeymen.
In fact, it was hard to find a mainstream story about Bitcoin that wasn't scaring the bejesus out of good honest people. When I used to talk to people about Bitcoin, normally they looked at me as if I was a cross between Pablo Escobar and the Child Snatcher from Chitty Chitty Bang Bang. But now, everyone is talking about it. And that concerns me.
So why in the world is the mainstream suddenly telling everyone about it?
I genuinely would like to hear your thoughts. Especially if they are silly, great conspiracy theories, or pure fantasies.
A bounty for the best answer....
All right let me break it down for you.
The US government is knows the dollar is on the brink of collapse. And they know they will lose out big if another global currency rises up to take its place. So they have the media hyping bitcoin to get as many people invested into it as possible. Bitconnect is a ponzi. That we all know. But it is also a false flag operation orchestrated by the Federal Reserve. Thats why there is ZERO transparency with Bitconnect and seemingly endless money that makes no sense. At the right time of saturation Bitconnect will implode leaving devastation in its wake. Bitcoin will end up being the scapegoat as the reverberations are felt across the US economy. The media will spin the death of the dollar and implosion of the economy on this misunderstood crypto currency i.e. Bitcoin. Think of it as pump and dump to misdirect our attention away from the abysmal handling of our economy for generations not to mention our 21 Trillion debt. This will lead to Government completely overtaking and regulating crypto currency for our "protection" and co-opting blockchain technology to issue the first Gov.Coin, the only approved legal coin of the realm.
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I was thinking along similar lines but I just said Bitcoin is going to go shitwards because typing is not my gig - trick is to time milking Litecoin and Etherium now - any thoughts of timing on the next crash?
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I think it will be a little while yet...get some more of the fish in the barrel before the sharks begin feeding.
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I agree. They can't crash it just yet for the same reason we are not in a bubble yet. Not enough market saturation. We got a year out or more.
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Holy fucking shite!!!! But I tend to agree that the banksters and their government mafia puppets aren't going to sit idly by and do nothing about crypto..... although my sense is that some interesting anon coins like monero will do very well in this scenario. Thanks for your outlook man. I sure hope you're wrong, and actually everything will be all rainbows and bunnies and ferraris, but that's just the idealistic part of me...the pragmatic me tends towards the cynical.
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Hahah that is mostly conspiracy dribble. But like with any technology there exists the opportunity to use it for evil. Government will most certainly try to co-opt what they can because blockchain threatens the power structure.
But they will not be able to kill it in its entirety. Blockchain will thrive despite government and possibly change the world in the process.
I'm serious about Bitconnect though. The fallout from that is gonna suck.
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First and foremost because its a zionist plot to create a one world currency.
I'm making $ but have no delusions that Bitcoin is the peoples money. It is jacob rotchilds next plan!
PS - giving you a full strength upvote because you had the balls to say "FUCK" and jesus I'm bored with nerdfest crypto posts...
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Jacob Rothschilds next plan is bumming a goat. There. I said it. It's on the blockchain now!!!
Thanks for the comment, a good rumination!
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I suspect in between goats he has a few minions working on cryptos!
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Dude. That is some magnificent wordsmanship.
Y'all eloquent as shit.
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Thank you brother! I've always both loved and reviled 1984 (the novel, not the year, although the year was a pretty rough year for some, and not bad for others, which is a nice allegory, befitting my original comment). Anyway, I digress. The reason for both my love, and my hatred of the novel is that at the heart of the programming of the people is the loss and supression of language and history. Ergo, I have always thought it important to love language and history, and to write as if you were publishing in a story, which can never be untold. And for the first time in humanity, we have the ability to record our thoughts in a way that can never be undone, or censored. It's the loveliest thing about the blockchain, and I feel it is our right and our duty to fill it with what will one day be echoes of the past.....
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1984 wasn't all bad.....
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I was contemplating a 'Do it to Julia' tattoo, just to keep me on my toes.
My brother dated a Julia though, so it might be mis-read.
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Price of curse, but could also be because it's no longer useful in the same sense as it used to be. As such it is much less of a threat. The speculation is also rubbing off on Litecoin a great deal.
Bitcoin Cash is getting some mainstream spotlight as well though, but few understand it or have even heard of the split in the community. Other cryptos are only mentioned briefly still and a anonymizing crypto is a little taboo.
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Yes, and this is why I'm so into Steem. I think this little crypto will pass by the new people riding the FOMO train to a fucking massive spanking by some sharks. We are still in the mostly unseen world of really useful cryptos with a thriving community, and a ton of features which can change the landscape. Thanks for the reply. Nice to hear your thoughts!
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Nice post @anarcotech
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@anarchotech you might lack a proper conspiracy theory. May I offer you one?
https://steemit.com/bitcoin/@globalresearch/evidence-points-to-bitcoin-being-an-nsa-engineered-psyop-to-roll-out-one-world-digital-currency
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I've seen a disturbing correlation between what the media says and what ends up happening. Most of the times it's "Bitcoin has broken through this many thousands and next it'll hit this many thousands" and it does. Then they say "it'll end badly, it'll crash" and that could be the plan. To get so many people to blindly buy in while artificially driving the price up themselves (they can just print dollars and buy Bitcoin at will you know), before crashing it to levels where a lot of people will get burnt. Then they'll say we need a government backed crypto or something.
And it irritates me how they call Ethereum, Litecoin and even Dash Bitcoin's rival. CNBC does that all the time. It's not a competition. Besides, things only compete when what they offer is the same, and they're not the same. Now that I think about it, Steem seems a whole lot more useful than people realize. I think it's seriously underestimated. Though I think some are catching on, looking at SBD value right now. SBD can be used to transfer money just like Litecoin and Bitcoin Cash or Dash, and even faster. Plus, there's a community behind it.
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they are already making a few weak moves like sending letters to people exchanging on coinbase, but mainstream doesn't take initiatives they follow alphas, they have to talk about it in a negative way just following their protocol of manufacturing consent.
My concerns is not the mainstream but their owners, their moves towards crypto in regulations / law enforcement and threatening it's eco system to take ownership of blockchain and trades. mainstream will back them up and most people will follow bhaa bhaa
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