P.S. I stand by my expectation of a revisit to $400 and probably a bottom under $300. The chart resembles silver's fall. Why? Because pigs get slaughtered in permabull markets (of tinfoil hat white males) where everyone wants to buy always.
All the things I've been warning about have come true.
http://www.theregister.co.uk/2014/03/28/bitcoin_china_pboc_ban/
Take that news together with the analysis that the IRS has just placed an April 15 deadline margin call on all USA Bitcoin miners by ruling they must report and pay income taxes on newly mined coins, and doesn't it seem a little bit too coincidental that both try to force a massive selloff before April 15?
Then we have the main stream media bringing out other news about the threat of Nemo dat quod non habet confiscation or regulation of Bitcoin as follows.
http://www.telegraph.co.uk/technology/news/10728809/One-in-twenty-have-bought-illegal-drugs-with-Bitcoin.html
So it appears that my demographic analysis has been correct (don't forget my upthread refutation of the erroneous BS "1 in 3 Kenyans use BTC"). In the seminal whitepaper Satoshi clearly targeted high tech goldbugs by saying Bitcoin is similar to gold but better than gold in some ways. And it is clear that Bitcoin is useless for the masses due to the list of problems I had provided (e.g. 10 min transactions, no refunds nor chargebacks nor consumer protection, too easy to be defrauded, etc), but the white male demographic is fanatic about Bitcoin because they want to break free from being the slaves to the collective system they are now.
So the feature they need most is the one Bitcoin doesn't have, which is strong anonymity, but they are so fanatic that they can't even put their delusion on pause to think rationally about this. They are just too excited about "finally being not a slave any more" combined with the intoxicating "I can become rich while helping the world to be free".
The problem is that it won't work. Because Bitcoin doesn't have anonymity thus all the white males using it can be targeted by the tax authorities, financial regulation authorities (FinCEN), and law enforcement in general. And it won't be adopted by the masses unless it becomes an offchain system wherein those needs I enumerated can be fulfilled for the masses. But once it is offchain, then the supply will no longer be limited to the 21 million coins and instead be controlled by reserve requirements dictated by regulators, i.e. we will be back to fiat again.
The only things that will be accomplished are:
The elite could never beat us if we were united with the correct design and technology. The way the elite beats us is by getting us to chase non-solutions and fight those who offer real solutions. That is why the beta-males here on this forum resist me, because they are by definition slaves and will always be. Even as much as I try to help them, they will resist because their minds are under control of the honey pot traps that the elite lay out for them.
Adoption of Bitcoin will continue because the white males are fanatic about it.
But remember this reasonably affluent white male demographic (which funded by global $223 trillion debt socialism has spare time for masturbation hobbies and cargo cult movements) will eventually become saturated (just in time for the confiscations after all the intended prey have entered the trap) thus $1 million per BTC will not happen.
They will believe that they can profit off of this but they will be fully identified to the authorities and later come the confiscations.
This was the way to fool this otherwise astute group of men who resist the NWO.
These white men will become very boastful during this time (before the confiscations), as BTC goes to $10,000+.
Due to their greed and their erroneous thinking that they are strong united (when in fact they are weak in the designed trap), they will boastfully ridicule and resist all alternative lifeboats rendered unto them.
They will be lead by false prophets who will repeat the same trapdoor slogans, "the adoption is increasing" (ignoring that they are isolated from the masses).
They will ignore the facts that one pool controls more than 50% of the mining. They will ignore the facts of how regulation has destroyed any chance for Bitcoin to become a currency (except for those irrational white males who will force themselves to use it to try to justify their honey trap delusion).
The white men will bow to these false prophets to confirm they are good slaves.
Scenario analysis forward is there is a possibility that offchain services will increase mass adoption of Bitcoin. They might lobby the government for say an exclusion to capital gains for up to say $600 per year of gains due to transactions or say up to $100 per transaction. In return, they would offer the government regulators control over the offchain solvency. This could come in stages as Bitcoin transitions from an ideal of non-fiat, on chain currency to an offchain, fiat currency.
The early adopters will not gain from this (see quote below). The institutional players will. These white beta-males will be slaughtered once again by the collective system. The institutional players know how the game is played to manipulate the masses to the desired outcome so that control remains in the elite hierarchy.
http://armstrongeconomics.com/2014/03/27/obama-lagarde-destroying-the-world-economy-a-lethal-combination/
http://armstrongeconomics.com/2014/03/24/the-real-conspiracy-the-imf-tax-agenda/
The point I am making is that when you are isolated from the masses and identified doing some financial transactions, you are the first ones Hitler goes after because the masses will not complain, especially given that you are doing drug trading!
Just see that image of Risto upthread that makes him look bad. Whether you are bad is irrelevant. You can be associated with the drugs by implication and the mass politics will says "yes going after those cheats and evil do-ers".
You see the elite can turn you into the bad guys in the eyes of the masses, you white male unconformists. Then the elite can say, "those Bitcoiners who are not evil will prove it by registering and holding balances in the regulated offchain services".
You see there is no chance in hell of winning against the elite for as long as they can identify who you are.
The only way the rebels ever win is by guerrilla warfare wherein they can't be targeted.
There is probably more that I could say to make this more convincing, but let me close by saying...
I am not a slave. Join with me if you want to win.
I won't be holding your hand advising you when and what to do. You won't even hear from me. But I will silently be making sure the technology is correct.
I would love to see us take the internet back. I believe "we" will win, where the "we" are those who adopt the very high tech solutions.
I doubt any more talk will be effective. I am confident that soon others will be talking on my behalf. Those who want to win will hopefully hear. Good luck to everyone, including my detractors (peace).
All the things I've been warning about have come true.
http://www.theregister.co.uk/2014/03/28/bitcoin_china_pboc_ban/
Quote
Chinas central bank has ruled that all banks and payment service providers in the country must cease dealing in Bitcoin.
The ruling, effective from April 15th, basically shutters all Bitcoin trading sites in the Middle Kingdom and means cash purchases will soon be the only way to buy into the virtual currency.
The Peoples Bank of China (PBoC) has not officially announced the ruling, although Chinese business site Caixin claims to have seen an internal document stating that any banks failing to comply would be punished.
Said document apparently lists 15 trading sites which are set to be closed.
The ruling, effective from April 15th, basically shutters all Bitcoin trading sites in the Middle Kingdom and means cash purchases will soon be the only way to buy into the virtual currency.
The Peoples Bank of China (PBoC) has not officially announced the ruling, although Chinese business site Caixin claims to have seen an internal document stating that any banks failing to comply would be punished.
Said document apparently lists 15 trading sites which are set to be closed.
Take that news together with the analysis that the IRS has just placed an April 15 deadline margin call on all USA Bitcoin miners by ruling they must report and pay income taxes on newly mined coins, and doesn't it seem a little bit too coincidental that both try to force a massive selloff before April 15?
Then we have the main stream media bringing out other news about the threat of Nemo dat quod non habet confiscation or regulation of Bitcoin as follows.
http://www.telegraph.co.uk/technology/news/10728809/One-in-twenty-have-bought-illegal-drugs-with-Bitcoin.html
Quote
One in twenty have bought illegal drugs with Bitcoin
New research reveals that five per cent of those aware of Bitcoin have used it to buy drugs, while a third of Britons believe it to be the "currency of the future"
New research reveals that 18 per cent of those who know about the digital currency have used Bitcoin to buy goods or services online, and five per cent admit to having used it to buy illegal drugs.
New research reveals that five per cent of those aware of Bitcoin have used it to buy drugs, while a third of Britons believe it to be the "currency of the future"
New research reveals that 18 per cent of those who know about the digital currency have used Bitcoin to buy goods or services online, and five per cent admit to having used it to buy illegal drugs.
So it appears that my demographic analysis has been correct (don't forget my upthread refutation of the erroneous BS "1 in 3 Kenyans use BTC"). In the seminal whitepaper Satoshi clearly targeted high tech goldbugs by saying Bitcoin is similar to gold but better than gold in some ways. And it is clear that Bitcoin is useless for the masses due to the list of problems I had provided (e.g. 10 min transactions, no refunds nor chargebacks nor consumer protection, too easy to be defrauded, etc), but the white male demographic is fanatic about Bitcoin because they want to break free from being the slaves to the collective system they are now.
So the feature they need most is the one Bitcoin doesn't have, which is strong anonymity, but they are so fanatic that they can't even put their delusion on pause to think rationally about this. They are just too excited about "finally being not a slave any more" combined with the intoxicating "I can become rich while helping the world to be free".
The problem is that it won't work. Because Bitcoin doesn't have anonymity thus all the white males using it can be targeted by the tax authorities, financial regulation authorities (FinCEN), and law enforcement in general. And it won't be adopted by the masses unless it becomes an offchain system wherein those needs I enumerated can be fulfilled for the masses. But once it is offchain, then the supply will no longer be limited to the 21 million coins and instead be controlled by reserve requirements dictated by regulators, i.e. we will be back to fiat again.
The only things that will be accomplished are:
- White males against fiat will be identified and destroyed by the honey pot called Bitcoin.
- The regulation of the offchain result must be global cooperation, thus we move to a NWO world government.
The elite could never beat us if we were united with the correct design and technology. The way the elite beats us is by getting us to chase non-solutions and fight those who offer real solutions. That is why the beta-males here on this forum resist me, because they are by definition slaves and will always be. Even as much as I try to help them, they will resist because their minds are under control of the honey pot traps that the elite lay out for them.
Adoption of Bitcoin will continue because the white males are fanatic about it.
But remember this reasonably affluent white male demographic (which funded by global $223 trillion debt socialism has spare time for masturbation hobbies and cargo cult movements) will eventually become saturated (just in time for the confiscations after all the intended prey have entered the trap) thus $1 million per BTC will not happen.
They will believe that they can profit off of this but they will be fully identified to the authorities and later come the confiscations.
This was the way to fool this otherwise astute group of men who resist the NWO.
These white men will become very boastful during this time (before the confiscations), as BTC goes to $10,000+.
Due to their greed and their erroneous thinking that they are strong united (when in fact they are weak in the designed trap), they will boastfully ridicule and resist all alternative lifeboats rendered unto them.
They will be lead by false prophets who will repeat the same trapdoor slogans, "the adoption is increasing" (ignoring that they are isolated from the masses).
They will ignore the facts that one pool controls more than 50% of the mining. They will ignore the facts of how regulation has destroyed any chance for Bitcoin to become a currency (except for those irrational white males who will force themselves to use it to try to justify their honey trap delusion).
The white men will bow to these false prophets to confirm they are good slaves.
Scenario analysis forward is there is a possibility that offchain services will increase mass adoption of Bitcoin. They might lobby the government for say an exclusion to capital gains for up to say $600 per year of gains due to transactions or say up to $100 per transaction. In return, they would offer the government regulators control over the offchain solvency. This could come in stages as Bitcoin transitions from an ideal of non-fiat, on chain currency to an offchain, fiat currency.
The early adopters will not gain from this (see quote below). The institutional players will. These white beta-males will be slaughtered once again by the collective system. The institutional players know how the game is played to manipulate the masses to the desired outcome so that control remains in the elite hierarchy.
http://armstrongeconomics.com/2014/03/27/obama-lagarde-destroying-the-world-economy-a-lethal-combination/
Quote
Obama is of the same mindset and views anyone who even tries to hide money as a criminal. Sources have been warning all along that Obama would like to see the tax rate restored to where it was before Reagan 70%. With the new technology to track money and with Lagarde, the two have been pushing to try to shut down every possible avenue to store wealth they cannot get their hands on.
Lagarde and Obama are actually pushing the rest of the G20 into destroying the world economy.
Lagarde and Obama are actually pushing the rest of the G20 into destroying the world economy.
http://armstrongeconomics.com/2014/03/24/the-real-conspiracy-the-imf-tax-agenda/
Quote
Obama is on board fully with the IMF agenda to raise taxes substantially French style. The IMF has been behind the scenes going to every former tax shelter and threatening them to turn over data. They have hit the Caribbean islands right down to Panama.
The point I am making is that when you are isolated from the masses and identified doing some financial transactions, you are the first ones Hitler goes after because the masses will not complain, especially given that you are doing drug trading!
Just see that image of Risto upthread that makes him look bad. Whether you are bad is irrelevant. You can be associated with the drugs by implication and the mass politics will says "yes going after those cheats and evil do-ers".
You see the elite can turn you into the bad guys in the eyes of the masses, you white male unconformists. Then the elite can say, "those Bitcoiners who are not evil will prove it by registering and holding balances in the regulated offchain services".
You see there is no chance in hell of winning against the elite for as long as they can identify who you are.
The only way the rebels ever win is by guerrilla warfare wherein they can't be targeted.
There is probably more that I could say to make this more convincing, but let me close by saying...
I am not a slave. Join with me if you want to win.
I won't be holding your hand advising you when and what to do. You won't even hear from me. But I will silently be making sure the technology is correct.
I would love to see us take the internet back. I believe "we" will win, where the "we" are those who adopt the very high tech solutions.
I doubt any more talk will be effective. I am confident that soon others will be talking on my behalf. Those who want to win will hopefully hear. Good luck to everyone, including my detractors (peace).