Bitcoins have been surging beyond $200 amid mass speculation and bandwagon investment, but as of writing bitcoin value has dropped from $266 to a low of $105 — a crash that was predicted verbatim just several hours before by Mike Adams of NaturalNews.
If you’ve been following BitCoin mania to any degree, you may be aware that the virtual currency exhibits many substantial pros and cons. For starters, bitcoins exist independent of the United States dollar, or any nation’s currency for that matter. Regulated by an extremely strict internal algorithm that controls the inventory and overall issuance of the currency, bitcoins are not controlled by the government nor the federal reserve banking system. It is for this reason that the US government absolutely despises (and fears) bitcoins.
The fact is that the big banks are funded with $83 billion in taxpayer money annually, and if the public switched to bitcoin this would cease to be the case.
And there’s more positives to bitcoins of course, like the ability to use bitcoins in many commerce scenarios that protect privacy and come with major purchasing power, but there’s also negatives that many hardcore bitcoin proponents like to ignore.
For starters, bitcoins are a virtual currency and are therefore subject to the availability of the internet. In the event that internet connectivity is not available, you simply cannot trade your bitcoins for cash or merchandise. In the larger event that the internet is attacked and dismantled through cyber warfare or a solar flare hits, you also will lose all of your investment. This is not really an issue for most users who have what equates to only a few hundred or a few thousand dollars from their portfolio in bitcoins, but for those pumping tens of thousands or even millions into the coins it’s a serious concern.
But beyond the availability of the bitcoins is the almighty factor of speculation and PR. Bitcoins have gained major attention following the Cyprus bank scandal in which accounts were dipped into by major bankers and the nation’s government, who decided that private citizens would pay for the nation’s bailout. Since then, both citizens of Cyprus and those around the world came to realize that they need a ‘scandal-proof’ currency like bitcoins to protect their assets.
Big Banks and The Bitcoin Plunge
As a result, the value of bitcoins grew tremendously. But now, as predicted by Mike Adams just several hours beforehand in his article ‘How the looming bitcoin crash will be exploited by globalists to outlaw decentralized crypto currencies’, bitcoin holders have entered a nightmare scenario sparked by what appears to be individuals purposefully attempting to devalue the currency.
Furthermore, we’re seeing the exact scenario from the article take place. In the article, Mike explains the step-by-step process of devaluing the bitcoin currency to where we stand currently:
- Step 1: Central banks buy up massive quantities of bitcoin currency… encouraging millions of people around the world to jump on board the “get rich” bandwagon
- Step 2: Once bitcoin valuations reach a sufficient level of insanity, start a massive selloff by dumping the bitcoins you already bought onto the market
- Step 3: Watch panic take hold as the bitcoin crash accelerates, ending in a catastrophic wipeout of “valuation” of all bitcoins.
Sound familiar? If it doesn’t right now, it’s about to. We’re seeing this exact playbook right now in the news.
Whether it’s attempts by megabankers to take down the competing currency or not, DDOS attacks and bizarre bitcoin dumps on Reddit have culminated into a collapse. One Reddit user named ‘Bitcoinbillionaire’ gave away $13,627 dollars worth of Bitcoins to random users today as the DDOS was completed that destabilized the process. Likely connected, the ‘Bitcoinbillionaire’ even signed off with a patriotic Ron Paul quote that was most likely used to pinpoint the event on Ron Paul supporters and those suspicious of the government.
The megabankers simply cannot allow bitcoin to exist if they intend to continue their complete control of the current financial system. If the citizens of Cyprus had all been using bitcoins, the banksters could not have dipped into their private accounts at will. And more importantly, if US citizens turn to bitcoin the banks would not receive their $83 billion in taxpayer funding each year.