Coincidence or War?
I’m not a big believer in coincidence. Sure, I’ve been in the thick of coincidence, where I think of someone and my phone starts ringing and it turns out to be that very person.
But when it comes to business, coincidence is not something you count on. In fact, coincidence is often paired with Murphy’s law, and the best thing you can do is PLAN on Murphy showing up on a regular basis.
In the financial world, coincidence is most-often planned, because finance is more than just numbers. Its capital, its emotion, its game-theory.. did I mention emotion?
The Beginning of the Storm
On September 11th, 2017 Bloomberg Markets reported that “China plans to ban trading of bitcoin and other virtual currencies on domestic exchanges”. Of course, this statement wasn’t actually factual (China only banned Yuan trading for Bitcoin) but it came on the heels of the news that China had banned ICOs in China.
One Day Later
1. Jamie Dimon, of JP Morgan & Chase called Bitcoin a “Fraud”, comparing it with Tulip Mania and predicting a collapse. “Still”, he said, “It’s a good option for murderers and drug dealers”
2. The SAME DAY, CNN reported that North Korea hackers are trying to steal Bitcoins online to fund their “War Chest”
The crash of bitcoin the same day was quite a coincidence. If you’d seen the article about North Korea, or heard Jamie Dimon’s comments, it probably would have made your day.. After all, there’s nothing like the ENEMY, MURDERERS, and DRUG DEALERS, losing money to get everyone’s spirits up.
If I weren’t so cynical, I could probably swallow that all the events and comments were coincidence; A catastrophic alignment of the planets against bitcoin. A perfect storm.
Except, you can’t plan a storm..
The FED has recognized the enemy and they’ve declared war.
Bitcoin survived, and some may say, thrived through the attack. Coincidently, Dimon was on the scene, again, comparing Bitcoin to Airline miles. “Governments will close down bitcoin and cryptocurrencies if they get too big”, he claimed.
What was most disturbing, though, were the headlines joining Bitcoin with the military strategies of North Korea, it may be more than the FED who is planning on War. If the enemy uses Bitcoin, then Bitcoin is the tool of the “ENEMY”.
Bitcoin will survive, but the road just got a little rockier. There is massive wealth accumulated amongst fewer individuals than ever before in this country.
We have no idea to what extent those people are willing to go to preserve their positions of power.
Stay Humble, Keep Your Ears to the Ground... and Decentralize!
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