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    Author Topic: Why The Bitcoin Price Going Higher Means Bitcoin Will Fail  (Read 1316 times)
    Currency Of Light (OP)
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    December 03, 2015, 05:12:17 PM
     #1

    We know one of two things, in the beginning;

    - Bitcoin was created as a solution to poverty by allowing people to mine them and thus all have a relative equal share of global equity and have personal sovereignty

    or

    - Bitcoin was created with a sinister function by a group of corporate thieves designed to extract money from other countries of the world to pay off a nations debt

    I have been mining Bitcoin for two years, participating in the "Bitcoin Econony" for two years and in that time, the sheer amount of schemes and scams to extract money from newcomers to the Bitcoin scene has been astonishing, even now POS coins are being created by just a few people, amazingly making it on to cryptsy and then only a handful of the inner circle are benefitting from the only way in which you can make profit (mine a coin within the first 24 hours) the rest is a loss.

    So here are a number of reasons why the Bitcoin economy is going to fail;

    - Bitcoin holders, people who have thousands do not distribute that wealth to other people participating in the economy
    - The creator of Bitcoin still holds $300million (1million) of Bitcoin, and could be any person, agency, corporation, bank with any number of motives
    - All of the altcoins, even at the current prices, are artificially inflated, demonstrating that the Bitcoin economy is no different that the fiat economy
    - Whichever you look at it, oil is money, money is fiat, fiat is Bitcoin, therefore oil is Bitcoin, and oil propogates and is responsible for war
    - Banks and finance organisations are not investing in Bitcoin they are investing in private blockchains.

    Any modern economist knows that to have an economy and to keep it moving you have to;

    - ensure money circulates by taking it from one person (bankruptcy, fines etc) and redistributing (benefits, grants, etc) -  not hoarding Bitcoiners
    - ensure money is given away to ensure participation (nobody would work if it wasnt for fiat money/bribery/blackmail)
    - provide confidence that even the smaller participants and currencies retain a stable base value

    These are just some of the things, a few more things you should know;

    - In the event of a global economic collapse, currency values will decline, so will Bitcoin (Bitcoin is not immune from an economic collapse)
    - Bitcoin value is not the actual Bitcoin value (you can estimate that even with 10,000 sold or dumped, the price would drop significantly
    - Bitcoin money is fiat money in disguise, actually it is helping the one world government rather than acting in any real libertarian fashion

    So after 2 years of seeing Bitcoin be hoarded by jus a handful of people, very few giveaways, continual declining altcoin values, and a significant drop in "pumps" (not to mention the dump of altcoins whenever the Bitcoin price increases) that I am very suspicious about the Bitcoin community.

    I must add - I know not everyone has motives of greed - however people that by thousands of Bitcoins from the US government (corporations?) and sits on them waiting for Joe Public to invest their money before cashing out later on does not provide me with any confidence.

    Bitcoin is no longer libertarian, even Bittrex takes coins from their exchange if the current trading volume is below 0.1 BTC for a set period of time, anyone in favour of the libertarian movement and the support of wealth being distributed and used by millions rather than the few would not do this.

    Are there any stories or evidence of Bitcoiners for example aiding curing poverty, helping homeless off the street? Do you have any stories? Who is doing good with Bitcoin?

    You guys started with nothing and ended up with $millions, only to be kept waiting for a higher cash out, do you think people will invest in Bitcoin knowing that?

    Let's see some evidence that the Bitcoin community is indeed libertarian, is looking to reward others in the community, post up your photos , stories and lets see some evidence of how you are using your new founded wealth to help others and not using it to scam money out of newcomers to the cryptocurrency community.

    P.s. I was a latecomer but priveleged to start just in time for the launch of Dogecoin and Mooncoin, #tothemoon

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