Bitcoin - Freedom Or A Trap

[Stu]

So I've never been into Bitcoin, I prefer gold and silver, however I do keep an eye on the price and watch every episode of Keiser Report, and Max is really into BTC and has made a fortune out of it as he was one of the earliest adopters when it was at $1. So he knows his stuff.

Quite clearly this rally is different from the 2017 rally where it was those looking for a quick buck and FOMO that propelled BTC to 20,000. This time around there are big investors who are in it for the long haul and looking to hold rather than sell.

So my question is - was BTC really invented by some guy and a couple of mates in response to the 2008 crisis?

For me that seems almost impossible, BTC and how it functions is near perfect for what it is. Either they foresaw the crisis that was coming and created it many years in advance, or it was created by some other much larger entity like a government.

They are calling it gold 2.0 or digital gold. People are selling their gold ETFs and buying BTC, and even selling their physical gold for BTC.

But is it all just a trap to lure people in, to put their money into BTC only to have it all collapse through governments banning it worldwide.

Was it a NWO creation to get people used to a digital currency, a warm up for their one world digital currency. BTC at this point, it seems, is very resistant to manipulation so the powers that be won't like that and won't allow it to continue when their world government finally makes it's appearance.

On a side, I just think it is too similar to fiat, in that it was created from thin air, someone one day decided to create it and decided that it should have value, but it is still 1's and 0's with nothing backing it, just sentiment, unlike gold and silver.

[Philip]

Stu: it was created from thin air, someone one day decided to create it and decided that it should have value, but it is still 1's and 0's with nothing backing it, just sentiment, unlike gold and silver.

Stu, I've often wondered about BC myself. It most certainly had to be created with some effort and as well-coordinated by some mysterious group. But what you said above, it's merely backed by a whisper and a vapor - and so how could anyone have confidence in it not folding overnight?

[Stu]

Stu: it was created from thin air, someone one day decided to create it and decided that it should have value, but it is still 1's and 0's with nothing backing it, just sentiment, unlike gold and silver.

Stu, I've often wondered about BC myself. It most certainly had to be created with some effort and as well-coordinated by some mysterious group. But what you said above, it's merely backed by a whisper and a vapor - and so how could anyone have confidence in it not folding overnight?

Yeah just like fiat it's all about confidence. But at least normal government fiat is backed by government, what is BTC backed by. I mean the proponents of BTC say it is the hardest money ever created, even above gold, but I just don't see it.

Whether it's the creation of the NWO or not remains to be seen, and is pure speculation on my part, but many people are going all out for BTC and dumping everything else. I have a feeling many are going to get burned when it all comes crashing down, or maybe when the one currency is introduced the NWO will swop BTC for their currency.

Anyway it will be interesting to see where this rally goes and how high BTC goes. I wouldn't say that you shouldn't invest in BTC rather the important bit is to know when to get out.

[Philip]

Stu, guess everyone must make their own decisions about what level of risk they're willing to take on and how much they can afford to possibly lose. I have a friend who has long done day trading - and I think he's made a bit more than he's lost. But he's been constantly stressed out, checking the markets. But his wife won't let him play with family money. It takes a certain personality type to thrive on such. I used to work for a very wealthy family, and the patriarch, before he sold his company, had been broke and rich about three times - as he was always willing to roll the dice.