Cypherfans we love you! Don't believe Bitcoin Politics are important? Politics caused the bitcoin price crash! AND the first big bull run!!!
Gavin Andresen, in the Bitcoin XT fork, designed a "Bitcoin Constitutional Amendment," a supermajority of 75% required for adoption. Many say the politics of the fork wars almost killed bitcoin. But that's all very local, micro politics. Macro politics - like when the world's largest bitcoin mining and cybercoin exchange country bans bitcoin mining and exchanges - rules everything around. Dollar dollar bills y'all.
Take a look at the timing of the original Bitcoin pump n dump, a rollercoaster ride we have all admired, know by heart, admit it! Now let's have fun annotating some dates to the first peak of this mad mouse:
Bitcoin peaked and touched 19K in december 2017. It hit a second, lesser peak on Jan 5th, 2018 AND THEN CRASHED.
What happened on Jan 5th, 2018 ? Well the 3x moonwalking, rover buggy driving, first man to solo the far side of the moon, astronaut John Young died, after six spaceflights over 45 years. no wait we've got it that’s it CHINA ANNOUNCED THE MINER CLAMPDOWN. The bitcoin rollercoaster went free falling down more than 50% in a month. Related ? you tell me. Just a coincidence? Yessir, mr red star man. Nothing to see here. The greatest crash of the greatest cybercurrency starts on THE DAY the Chinese miners are banned and runs until the miners are resettled. That, or oh, wait, maybe it was just depression over losing John Young:
* extra data point:Jan 18th 2018. Reuters reports Canada's largest utility, Hydro Quebec, had forecast a rich 100 terawatt surplus of energy for the next decade. But now 70 new mining projects crash in the door, including Bitmain, with "dozens of new demands" every day. Hydro Quebec announces they will not be able to satisfyBitcoin prices keep crashing as miners desperately spend funds to relocate tout suite.
Is political power important to us yet? Try this - China's political will accelerated the rise and bubble of the big pump in the first place!!! When did the crazy climb to 20K start ? Let's focus on this bit of the jigsaw puzzle - China banned ICO's on Sept 4th, 2018, followed by banning exchanges a week later. Bitcoin was cruising at $4,500. This news took it down to $3500 in ten days.
Then human nature kicked in. hmmmm What happens if all new coins are banned? well, damn, now we want some of whatever's left BAD!!! Oh, well now it's very hard to buy them? This news wildfires through the people, mass awareness, and they buy, buy buy. Can we say “BULL RUN!!!” Bitcoin moons from $3500 to $19K in THREE MONTHS. Right until China kicks the miner ant hill and starts the dump!
Hell, we will even make the case that the rise in Bitcoin prior to Sept 4th was driven by the pending ban. American capital markets have a load of infrastructure in place to at least attempt to control insider trading on inside knowledge of important government decisions. Didn't work for chit to stop insider pols from dumping stocks ahead of the Corona crisis mind you, but at least we can see the pols that did it and hate them for it. Does China have effective insider trading laws in place ? Don't freaking think so. When on a NYU Stern scholar trip in China , they taught us about Guanxi, the chinese word for political power. We think a lot of global multinationals playing with Guanxi got prosecuted for paying and accepting bribes, but maybe that's just us. Anyway, could the CCP have kept the death of ICO's a secret ? or could it have leaked out, say right around the start of the big bitcoin pump a couple months before the ICO and exchange ban??!!??!
Seeing patterns where they don't exist is a basic human weakness. But not seeing patterns where they do exist is sticking our head in the sand! Bitcoin prices strongly correlate to government policy. With huge swings. There, we said it. Those political shocks to the system overrode anyone's technical chartist model.
Save Bitcoin! Free money from the tyrant hand of government! Stack sats to the moon and avoid hyperinflation! but please dear god let our views be known and VOTE FOR THE CORRECT POLITICIANS! The Pro Crypto Bitcoin Political Party has a one issue platform, but it's a huge platform, with room for everyone around the world. We advocate pro crypto candidates and try to educate those politicians who oppose us.
Be a single issue voter. Don't care about left, right, center, fringe, just stack coins and elect PRO CRYPTO politicians!
Here's the original Pro Crypto Party hall of famer politician:
In 2014, Jared raised a couple of thou in bitcoin donations on Coinbase the first week after the FEC said that was legal. AND GUESS WHAT HAPPENED ? five years later and NOW HE‘S THE GOVERNOR!! The Colorado people showed him big bitcoin love!
Let's make that a political habit. Love, Dave.
https://www.publish0x.com/pro-crypto-party/pro-crypto-political-party-manifesto-xxojjop
PRO CRYPTO PARTY GAS FUND: send gas money as ETH here and we will lobby lobby lobby and report back.
0xD24306365424f826598ee69f13fa095B8715Be9F
