A few days ago, cryptocurrencies sold off quite dramatically.
Bitcoin fell around 25% on average and Ethereum fell around 15% on average across major exchanges.
And as a whole, the entire altcoins market capitalization fell over 20% excluding bitcoin.
At the same time we put out our article, “The US Government Clamps Down on Ability of Americans To Purchase Bitcoin”
This was enough to get every jealous bitcoin hater out of their basement and gleefully typing that “We were right, bitcoin is a scam! Looks it’s down a few hundred dollars!”
Like this guy.
The Green Machine may have spoken a little too soon.
On this chart I’ve noted the small dip where Green Machine and many others proclaimed victory that all cryptocurrencies had collapsed.
And then cryptocurrencies hit another new all-time high again today above $115 billion.
But the people who hate bitcoin have to make up their mind. They seem to hold two opposite beliefs. The definition of cognitive dissonance.
Many of them seem to believe that bitcoin will fail because government will outlaw it, like this guy.
Of course if any government outlaws bitcoin it will slow down its growth in that region controlled by that criminal group called government.
But, if you believe that to be the case then you must also believe gold and silver have the same risks. In fact, even bigger, because gold and silver are physical. And, it’s not like owning gold wasn’t illegal for four decades in the 20th century in the land of the free.
I’m not sure what the people making this argument are really trying to say.
To paraphrase them, “We are slaves and are so enslaved that our slave masters will make sure we have a hard time using bitcoin! Haha! LOLZ!”
If that’s what you really believe then why don’t you do something to get out of your bondage? Why just laugh at how enslaved you are? What kind of man sits in his basement in his underwear eating cheetos and just laughs at how enslaved he is but does nothing about it?
Not a real man is the answer, Ralph.
But, realistically, the chances of every government on Earth all outlawing bitcoin is pretty slim. It’s already been accepted and used by too many people. There’d be at least a minor uproar if the government came in with their guns and started kidnapping and extorting everyone involved in bitcoin.
And, if there was even ONE country that didn’t, that country would all of a sudden find itself receiving billions of dollars of investment into the country and thousands of very intelligent people would be moving there.
Perhaps this is why Theresa May, Angela Merkel and globalist Donald Trump all want to make “global rules” for the internet!
And this is not to mention that the more governments try to outlaw bitcoin the more the demand for bitcoin will likely increase as anyone who can still buy it will be running to get it before it is too late.
And, not to mention, it’s not very easy to track who actually owns bitcoin. If you are smart it is impossible. And there is no way to confiscate it without your keys. This is probably why Morgan Stanley recently said they want the “master keys” to bitcoin!
And, furthermore, many other altcoins like Dash and Monero are built with extreme privacy in mind. If they really manage to hamstring bitcoin then watch cryptos like Dash and Monero skyrocket in value… and there will be nothing the globalists can do.
So, all those expecting that big government will put its boot down on cryptocurrency don’t understand cryptocurrencies. It’s just math. There’s nowhere for the government boot to smash.
Those same people, though, also seem to believe that governments created bitcoin to enslave us all, like this moron:
So, cryptos were a trap set up by the US government to create a new form of money that can destroy central banking and, by proxy, big government that no one had ever thought about before so they went ahead and created it to make countless anarcho-capitalists very wealthy and create a form of money that is impossible to stop, seize or track (if you are smart).
And, this fostered countless other cryptocurrencies that are literally impossible to track like Monero?
And they did this… Why?
Even if you think they created it, it’s open source code. So anyone can see there are no government backdoors built into it. And the market has ran with it and it is now so out of the ability of governments to control that the only way to stop it is to turn off the internet.
Whoever came up with that plan for the government must’ve been fired if he did!
But, the real issue is that most of the bitcoin haters out there actually hold two totally opposite beliefs in their head.
Either the govt will destroy bitcoin by outlawing it… which I showed above is highly unlikely and even if they did it would likely drive the value of bitcoin far higher as people realized just what a prison we live in.
Or government created bitcoin to enslave us. Which, as I pointed out, doesn’t really matter if they did. The market is using the technology to free us from government and central banks.
Given how quickly these bitcoin haters declared victory when bitcoin was down slightly a few days ago, I’m going to make a guess.
I’m going to guess that these bitcoin haters are full of jealousy to those of us who saw the value of cryptocurrencies years ago and have profited massively from it. And for that reason they feel the need to try to discredit bitcoin whenever they can to feel better about their own stupidity.
That’s really no way to live. Being jealous of others who are better than you is never a recipe for success. You’ll end up how many of you are now, in your mother’s basement, single, obese and writing pathetic Youtube comments anonymously to try to make yourself feel better.
Here’s a better idea. Spend some time and learn what bitcoin and cryptocurrencies are all about. You’ll still be ahead of 99% of other people and can profit from its growth over the next few years and then laugh at the jealous trolls who try to discredit bitcoin.
You can get a start here. Anyone can. I have made a four video webinar which talks about the importance of cryptocurrencies and why they are and will be so valuable. Click HERE to find out more.
And, if you accept my offer for more information at the end I’ll send you your first $50 in bitcoin directly from my personal bitcoin wallet.
Then you can be on the right side of history and, who knows, you can maybe even get a girlfriend one day.
Bitcoins are looking at mass adoption around the world.. Looking at the new btc atms.. I think this is a way for the people to say to hell with the government.
Honestly it looks retarded placing a ban on bitcoins only makes the government look stupid because an economic system of the free people is doing better for 2 year's compared to the one that has developed ages.
Still much love for your work and bless you dollars guy :)
Guys, if you have / going to have some BTC, wait at least until 2020.
indeed! any country which doesn’t adopt will suffer hugely. they can’t waste their dwindling resources on regulation. they are actually fighting the loss of the petrodollar as a global standard, plus a convergence of other global issues. this is just a PR media campaign to incite fear and ignorance, per usual. and @dollarvigilante don’t forget that there are paid youtube trolls out there which are part of these info campaigns.
IMHO investing in bitcoin/(good) cryptos is like investing in Microsoft/Apple/Google a good while ago ;) the others just dont take the rocket to the moon :D (yes we are still not on the moon :P)
정말
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Whatever people think about my bitcoin does not have to bother, it is more of a negative assumption about bitcoin. The fact that I have seen that the reality of my place in Aceh, Bitcoin has been able to turn people into prosperity. Hopefully I hope if the weak side of the bitcoin itself is immediately fixed
Thank you mr @dillarvigilante
They have called the death of Bitcoin over 100 times now :)
https://99bitcoins.com/bitcoinobituaries/
I love your work Jeff, it's just too bad I wasn't acting on it years ago when you were speaking on cryptos.
Dude. You're here. Being here now is like buying bitcoin at $5.
The first million steemers will be considered visionaries in the years to come.
You're the 172,911th steemer
Your grandchildren will brag about that :)
As Jeff stated above there's still 99% of the population that are yet to discover cryptocurrency. Maybe not quite so dramatic as $3 to $3000 but getting in now really still is early adoption and a potential fortine to be made!
I just feel late with bitcoin surpassing 3k at one point. But maybe I'm earlier than I believe.
so find another alt coin and invest in it, it's not too late at all! Look at Monero
Yes, exactly! We're still in the early adopters range for every crypto-currency (maybe not Bitcoin so much - maybe an expert can chime in.) But, Dash, Ethereum - etc - they still have a LOT of growing to do.
Case in point: Ether (ETH) - is the number 1 crypto-currency among investors who use crypto-currencies for investment, worldwide. The fun's just beginning! :-)
Hahaha hylarious closing sentence. Great article as always insightful, educational and with a lot of humor. With your talent maybe time to start writing a book. No I understand your plate is already full enough. 🙏 But it would be a besteller for years!
ThisThat view actually is stupid.Government invention ment to enslave.
Come on... your content is usually better than this.It is going to fail because they outlaw it? Who cares if it is outlawed, people do all sorts of illegal things today.
EDIT: I'm an idiot. Everyone relax...
It kinda sounds like you just read the headline.
Yep. Lol... don't usually do that but I got my jimmies rustled by the headline.
Not much of a DV reader but after reading the title I just assumed Jeff went off the deep end.
Hope I can be forgiven.
Jeff is a fear-profiteer; his entire business model is centered on being off the deep end.
Well yeah...
I wish I was that blunt.
Yeah he did 😂
Turn that brain on, Kyle.
Lol.
I don't have time to read any of Jeff's opinions and freaked at the title.
More brain next time I hope...
Can't promise. There is a lot going on.
You didn't even watch the video, lol
Seriously - take 4 mins and actually read the article before posting. You missed the whole point, completely.
Okay okay calm down :).
I edited the comment. I don't have time to read DVs posts but after seeing the headline I thought Jeff had gone crazy and left a half ass comment.
Whatever. I'm not infallible.
lol
wkkkk i like your mindset.....sorry
my thoughts too, i've often wondered if its a psy-op. if not they will try to control it or destroy it before it financialy tears down countries and governments.
In the uk when internet dial up first came available the government and was against it and the media ran stories about the dangers of the internet.
A few years later when they realised they couldnt control it they started giving grants to get everyone on it...
Thats what i think has happened with cryptocurrency.... they tried to stop peeps but now theres 2 many crypto users so they will now try to control and utilise it ... theyl prolly destroy btc but instill their own NWO coin..... ive heard they are looking a a blockchain payment system in the uk to control benefit payments..
They wont put voting on a blockchain tho, oh no, pencils and paper voting here.... easier to change and corrupt than a blockchain.....
I choose neither. Cryptocurrency is freedom.
I am happy when it's down and happier when up
Russia and India both tried banning bitcoin and they decided they was a fight they couldn't win....I think if anything they could regulate it, but never ban it. it is turning mainstream right in front of our eyes.
Best paragraph of the article:
"That’s really no way to live. Being jealous of others who are better than you is never a recipe for success. You’ll end up how many of you are now, in your mother’s basement, single, obese and writing pathetic Youtube comments anonymously to try to make yourself feel better."
You are so true Jeff and thank you for this.. I see so many people in Germany saying Bitcoin is a scam and nobody of them understands the story behind Cryptos.
Some people are so enslaved and have poisoned thoughts that they will defend their own enslavement.. Sad but true
I wonder just how many of the Bitcoin haters secretly have a teensy stash anyway just incase?! I suspect all!
Big Brother will step in @dollarvigilante
To what extent is still unknown...
Silver is my backup plan :)
Lead is mine...molon labe😳
Bitcoin is the tip of the spear for for the cryptocurrency wave to come.
Steem is flying tho, 🌟🌟🌟
My theory is that the government didn't take Bitcoin seriously until very recently, hence the attack on it/ lack of media attention. I think people who believe that this was a big conspiracy from the beginning, created by the government in order to give the illusion of freedom are being too paranoid. The media would have/would be pushing bitcoin much harder if it was their endgame for total enslavement. Now I do believe that banks are getting more and more involved in crypto, probably buying more and more during each correction. We do have to be careful of that. Can the government even stop cryptocurrency at this point? I doubt it. They can try though
"Freedom fighter against mankind's two biggest enemies, the State and the Central Banks." - You.
You, sir, just became my Steemmate with that written in your footer!
Great article. The haters need a good slap in the teeth. Then they can wipe away their tears with those once valuable, soon-to-be useless pieces of paper.
Government can't control decentralized grids, we will go to the dark net...they will drive us out of sight and even more out of their control.....
Bitcoin and Crypto's are the future of free people.
Freedom from oppressive government control and the criminal central banking cartels is what's needed now.
I, for one think we are living through an incredibly exciting time.
Keep up the good fight @dollarvigilante
Thank You Jeff for all that you do and for all the info
ditto to that
Crypto and digital assets are for the people!
The great thing about cryptocurrency is that a government can ban one or two but they can never ban them all. Infact, if they did we would just make new ones. Speaking of new ones....Jeff, what are your thoughts on the Tezos ICO that will happen on July 1st? Please throw some crumbs of wisdom regarding this exciting opportunity to your many Steemit followers. :-)
You can lead a horse (person) to water but you cant make em drink (buy bitcoin) There lost, our gain. Im still betting no girlfriend for them unless it requirs air...
I mentioned this website to a few people and most took heed but a few pretty much got defensive. One said she wasnt going to do it because she never heard of it.....can you say microsoft? But hey thats them. I wish them the best
Beautiful man!
Yes we acknowledge many negative issues to bitcoin, yes the issue is in the hembus by mouth naked mouth meaning not have reason
What is Bitcoin?
Bitcoin is a consensus network that enables new payment systems and money that are entirely digital. Bitcoin is the first decentralized peer-to-peer payment network that is fully controlled by its users without central or intermediary authority. From the user's point of view, Bitcoin is similar to cash in the internet world. Bitcoin can also be seen as the most prominent bookkeeping system currently available.
Who created Bitcoin?
Bitcoin is the first implementation of a concept called "cryptocurrency", first described in 1998 by Wei Dai in the cypherpunks mailing list, suggesting the idea of a new form of money that uses cryptography to control manufacture and transactions, instead of using centralized authority. The first Bitcoin specification and proof of concept were published in 2009 in a cryptographic mailing list by Satoshi Nakamoto. Satoshi left the project at the end of 2010 without telling much about him. The Bitcoin community is growing rapidly as the number of developers working on Bitcoin.
Satoshi's anonymity often raises false attention, mostly related to a misunderstanding of the nature of open source-based Bitcoin. BItcoin protocols and software are published publicly and developers from around the world can review the code or create their own modified version of Bitcoin software. As with current developers, Satoshi's influence is limited to some of the changes he created and adopted by other developers, and he does not control Bitcoin. Thus, finding the identity of the inventor of Bitcoin is now just like finding the identity of the inventor of the newspaper.
Who controls the Bitcoin network?
No one has a Bitcoin network, just as no one has email operation technology. Bitcoin is controlled by all its users worldwide. Developers can indeed improve Bitcoin software, but they can not enforce changes in the Bitcoin protocol because all users are free to choose the software and version they want to use. In order to remain compatible with each other, all users need to use software that follows the same rules. Bitcoin works only when there is full consensus among all users. Thus, all users and developers have a strong incentive to protect this consensus.
How does Bitcoin work?
From a user point of view, Bitcoin is nothing more than a mobile app or a computer program that provides a Bitcoin wallet and allows users to send and receive bitcoins. This is how Bitcoin works for most users.
Behind the scenes, the Bitcoin network shares a public record called "chain-block". This entry contains all transactions that have been processed, allowing the user's computer to verify the validity of each transaction. The authenticity of each transaction is protected by digital signatures related to the sender's address, allowing all users to have full control over the bitcoin delivery from their Bitcoin address. In addition, anyone can process transactions using special hardware counting power and get a gift in bitcoin for this service. This activity is often referred to as "mining". To learn more about Bitcoin, you can go to special pages and original newspapers.
I just started on this and I think I should know more. But bitcoin is a paradigm shift will not be well received and will be attacked. The trust of the people is what supports it. From my point of view this is just the beginning.
I wish your posts would have a TL;DR section.
Awesome post DollarV.!!!
@dollarvigilante: you are the reason, i'm here. I'm following you youtube for a while now. Keep helping people like me, We need you. Thank you so much for eveything!
Agreed. It's the typical Problem, Reaction, and Solution tactics. It can also be way of coditioning the masses into going cashless. This way, every single, private transaction is accounted for and possibly taxed. The perfect global currency.
It doesn't matter how many haters Bitcoin has, it's here to stay, whether government or so called "authorities" like it or not.
Keep up the good work Jeff!
Great article! It's hard to imagine how the government can police declaration of bitcoin at the border, let alone outlaw it outright! The government's position will slowly change to "if we can't beat'em, then let's join'em"!
Hey.....Bitcoin is here to stay.....Indian govt has lagalised the use of Bitcoin...this I believe is a huge step fwd... One of the biggest economies joining the bandwagon will only impart stability to the ecosystem...
I hope Indian govt take decision in favour of crypto currency.
ive been trying to get into crypto-currencies for awhile now but getting an account with american exchanges to buy bitcoin its just unreal , is just me?
and just an observation : the logo for ethereum is a piramid . i dont like piramids anymore !!
Congratulations @dollarvigilante!
Your post was mentioned in my hit parade in the following category:
In India govt is still thinking of cryptos.
Jeff consider Bitcoin as a Hedge against financial madness currently taking place. People should always remember countries like Zimbabwe and Venezuela and all other countries thinking about devaluing their dollar to deal with economic problems. There would come a point when the central bankers can no longer print notes to keep up and their dollars goes into free fall (Venezuela). No one is spared from this toxic debt, thank God for Satoshi, he realized the manipulation in Gold and Silver, an created a system where trust is built in and the fundamental of demand and supply (cap 21million) gives it a lasting and sustaining value base. No one country or individual has a backdoor and its as transparent where multiple confirmation secures the chain. Its the invention of the 21 century
Thank you Jeff! For your consistent input on researching and sharing your knowledge. A new post every day!
🌟🌟🌟
Viva a la Bitcoin! :-)
Bitcoin is the bomb!
Very Interesting read, Thanks
This is one thing the government will not be able to take control of, but I'm sure they will keep on trying to....
I have taken my time to understand how government can kill the existence of cryptocurrency. I did not see it's feasibility. Govt can only discomfort the users by enacting laws that will outlaw the existence of exchange houses and disconnecting their relationship/transactions with financial houses. Thus, those who have cryptocurrency will exchange them for goods amongst themselves, and settle debts amongst themselves also.
As for throwing it out of circulation is impossible. It is more private than public.
Good expository. Upvoted
The blockchain party has started. Great times. I see a better Realm starting to take shape now. There are going to be some mental storys coming up in the next few years. Peace to everyone.
Great read, thanks.
nice information, keep up
Bitcoin and all cryptocurrencies are the new world order but on people's version...so it means that big bankers and old bloodsuckers will go and die with their rotted money that they've been stealing and hiding from us in order to enslave us ....but now the world is changing...Rothchilds...Rockefellers...J.P.Morgans can go f*(k themselves...