Price: $10,613 | Block: 650861
Owners of BitMEX, a Leading Bitcoin Exchange, Face Criminal Charges - News like this that demonstrates how bias the media is towards the government's interests. This article is clearly insinuating Bitcoin & crypto-currency is only used by criminals. Most people still can't see that Bitcoin benefits them & their current financial system only robs them. BitMEX simply failed to enforce KYC/AML requirements. These 'criminal charges' don't look very criminal against banks & central banks, laundering & counterfeiting trillions as a day job. It's just all swept under the rug inside the boys club & called something different. We all knew the BitMEX guys were cowboys, it should be this way though - an open free capitalistic market. They still had to build their business & brand, it has become a very popular platform (kind of like a casino). The recent price crash was merely the result of some large liquidated longs - a domino effect, cascading the price momentarily. Fundamental nothing has changed with Bitcoin AGAIN, just more time for hungry whales to stack your sats cheap. Every time someone sells, someone buys. If they seize the 193k Bitcoins & dump it on the market, I'll be buying. Again not worried. There's more incentive for regulators to keep the Bitcoin for themselves. They'll have to seize it first, which will no doubt be extremely challenging.
Fiat inflation has cost Bitcoin hodlers 20% over the past decade - Probably a lot more than 20% if you want to make that argument. This year with COVID-19 (In my opinion mostly used as an excuse to print money for an already collapsing system), the US dollar has seen ~50% monetary expansion alone. Money is created in many forms, all at the cost of your savings & buying power. Since the GFC, the money printers have been hot (In a digital sense), this year - over-drive. I think it's difficult to measure inflation by comparing Bitcoin & fiat. There's no known fixed supply to measure anything by. The value of fiat is an illusion, a house of cards. 1 BTC = 1 BTC is all that truly matters. Bitcoin would have to ~100x from here to match the size of the US dollar. Doesn't matter though, when the time comes & the black-hole begins to vacuum, things will happen fast. Bitcoin is a life boat, except there's no limits to the allowed passengers onboard. I think there will be a polarizing-effect at some point, where everyone jumps, purely just out of fear & because all their friends are doing it. It probably won't happen until the inflation becomes extremely noticeable (Like $10 for milk) & people start losing faith in their government. Although, I can see this trend starting now. Hyper-inflation isn't a conspiracy theory, it's purely inevitable & simple math. If you create more of something it loses it's demand & value. As we progress further into this collapse, merchants/companies will need to account for more inflation in advance & it will have a compounding run-away effect. This is what hyper-inflation did to Venezuela.
This doesn't end well unfortunately, protect yourself & your family with Bitcoin. In my opinion, things will get far worse before they get much better. Luckily we have an option for the great reset & transition. DCA stack sats weekly. Even $1 per week could make a massive difference one day. Bitcoin is true savings technology. Hard money needs to have a cost, mining gives each Bitcoin value by using coal/electricity to create it. Most alts these days are staked/farmed - now people can create money out of thin air too. What lost term costs come with this? surely it can't have lasting value.
'$2.6 Trillion' Stimulus Bill With Second Direct Payments to Americans Ready for Voting - Every time you see Stimulus, it means inflation. They've already had the audacity to say that it doesn't cause inflation - bullshit. You're being taxed at the cost of your dollar. Every Stimulus Bill released increases demand & value proposition for Bitcoin. These stimulus checks are only slowing the inevitable collapse. There's no such thing as a free lunch. This free money is coming at a cost to your future. The money comes from the people. This isn't some charity, just more theft. But they're destroying the money & making it deflationary, this would increase the dollar value right? Yes in theory, but don't worry, you keep losing. More debt means they need more taxes elsewhere. It's a finely manipulated machine with many cogs. History shows us deflation is the precursor to hyper-inflation. Deflation slows economic demand - you can already see this playing out now. How do you create an incentive for people to spend? stimulus - print more money. It's a vicious cycle that continues to drain the wealth from citizens and make the 1% richer. All you need to know is rape from every angle. Think about it, they don't accept Bitcoin & crypto as a currency, & put it on the same level as the dollar. The dollar gives them control. Taxes/regulation slow adoption for Bitcoin and give people less incentive to use it. For me, income tax would be OK if there wasn't 100 other ways they profit from you. Don't stress, all fiat currencies will go to zero. Yes, these will be extremely dark times. But when the Bitcoin circular economy truly ignites outside of government control, now you're able get shelter & food without losing your rights, privacy & dignity due to your government. I sound like a negative gloom & doomer, but I'm really positive because of Bitcoin - Fix the money, Fix the world.
To subscribe to future blog posts & claim 1000 FREE sats - www.bitcoin2009.com
If you'd like to donate:
Bitcoin: bc1qse0rhdkcutnejc7kacpjhkhepcgkmh3lrkz8tg
Lightning: https://tippin.me
