If bitcoin hits $20,000, a price past its all time high, before the new year, crypto as we know it today will not survive.
Permabull YouTube shills seem to be shilling in the same direction — advertising a BTC ATH by the end of 2020. Other than yelling something about a replay of 2017, there is very little technical evidence that bitcoin will hit this number. The shills seem so focused on this event, however, that you might assume that they have some personal reason for making it happen.
They do, in a sense. These are folks selfishly looking for their bags to pump quickly. They’ve been holding the backside of 2017 since the Big Fall and they are impatient to see returns on the crypto they didn’t get rid of in time. They believe that because they held strong during the 3 year bear market that they deserve some payback, and 2020 is a nice, round year with plenty of mysticism behind it.
News flash, shills. The market owes you nothing, and saving humanity’s economic system is more important than pumping your individual bags. If bitcoin hits $20k by 2020, that means adoption is happening too quickly. Adoption that happens too quickly puts too much power in the hands of centralized institutions that government or tradfi can killswitch at any point.
Pumping Shillbags and the Death of Bitcoin
There are far too many centralized projects in crypto attracting the attention of less informed investors. These investors are trained to give up their financial sovereignty and digital information without question. The shills, who have the ear of tens of thousands of people and serve as the marketing onboard for the newbies, don’t say a word about custodianship. They just permabull everything and say “number go up” to entice the new guys to pump the shill bags.
Because the shills have been beating the drum about 2020 20k so loudly, if it actually happens, they look like geniuses. The new investors will continue to follow them blindly into centralized, custodial projects because those projects are the easiest to get by regulators and scale quickly. Not coincidentally, those projects are also the easiest for the government to mine for data and shut down at a moment’s notice.
Centralized Volume and Hypercustody
You might say, “What these newbies do has no effect on me, so let them follow the shills.” Nothing is further from the truth. As we’ve seen many times before, if the majority of a project’s value falls into the hands of a centralized few, it usually spells big trouble for that project.
For instance, an enemy government doesn’t have to custody all bitcoin to engage a 51% attack on the network. If the majority of bitcoin sits in centralized locations that the government can killswitch or confiscate, then that government has hypercustody over those funds. The 51% attack may not be direct or come from one wallet, but it will come from one source. Those of us who value sovereignty will be powerless to act at that point, as our bitcoin will either be blacklisted out of the currency flow or marked for death and confiscated as soon as it tries to move to act as currency or collateral.
An overbearing government can also begin to identify crypto holders and attack them personally, intimidating them into submission. As the dominoes fall and news reports come out, weak hands will capitulate, reducing the decentralization of the network even more.
Seem far-fetched? I’m sure bullion holders didn’t believe the government could confiscate their gold until it happened. Entire wars have been fought over completely false events. I’m in disbelief that people won’t actually consider that the primary purpose of government is to control as many people as possible, and the people within government are always moving towards that goal either consciously or subconsciously.
I had a commenter on a previous post about centralization say that as long as the code for a protocol is open source, it can be endlessly forked. Therefore, according to him, it would be impossible for a government to take his decentralized coins sitting on a decentralized network. This is technically true. Congratulations on the complete control of your BitcoinZ.
The Worse Case Scenario Must Occur for Government to Maintain its Status Quo
Knowing this, what makes you think they won’t collude using centralized volume for a 51% attack or to manipulate prices like they already do in tradfi markets? And they’ll do it using the same resources they’re using now — money that’s technically yours because your time and energy earned the value, but money that they have control and custody of. Why do they have this control and custody? Because people blindly (and willingly) gave it to them (AGAIN).
If you’re in the US, it’s more difficult to see these kinds of actions in your own government, kind of like it’s impossible to smell yourself. Look to the actions of China and Russia — their subterfuge against their citizens will be easy for you to pick out because your perspective is outside. The US is doing the same thing to you under the guise of protection and democracy.
And these shills that crypto is listening to — they don’t care about any of this as long as “wen lambo.” Silencing the shills is where it starts. Call them out. Question their philosophy when they hawk a different coin every day. Demand accountability for their under the table relationships. If we don’t self govern, we invite government to again control us.
I’m ok waiting on 20k until 2022 to see humanity move forward.