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As a “peer-to-peer currency” bitcoin could one day start a financial revolution as it means an extinction level event for banks which will no longer be a necessary middleman, Bitcoin Cash ‘CEO’ Rick Falkvinge told RT.<
In an exclusive interview with RT’s SophieCo program, he said bitcoin is the future of finance, and the key aspect is that the cryptocurrency is “permission-less.”
That allowed him to call himself a Bitcoin Cash CEO without asking anybody’s permission – “as a way to illustrate that we are not asking permission – that’s just part of our community.”
The rise in Bitcoin’s price was approaching “warp speed” above $8,200 overnight when, as so often happens, it went into another sharp reversal. After hitting an intra-day high of almost $8,265 in early trading on Tuesday, the price crashed more than $400 to $7,827, its biggest drop since November 13. This time it wasn’t another Dimon-esque rant, or the prospect of another fork (technically, these are bullish) but an old-fashioned theft in another cryptocurrency, Tether. Tether is a controversial crpto-business which provides a wallet service allowing crypto exchanges to store and convert fiat currencies to “safe” tokens (not to be confused with an ICO token) and vice versa.
So the price of $BTCUSD dropped almost $500 on the #Tether hack news. If YOU decided to panic sell your #Bitcoin (or #Altcoin) for $USDT please explain your logic. I would love to hear it ???? pic.twitter.com/79AtmgGbRo
— Tone Vays [#HODL] (@ToneVays) November 21, 2017
Tether has a market cap of roughly $673 million and is the world’s nineteenth largest cryptocurrency, based Coinmarketcap.com data. Regarding the theft, Tether alleges that $31MM of USDT tokens (Tethers trading at parity with the dollar) were stolen on 19 November 2017.
From the Tether press release:
On 31 October 2017, we discussed the announcement that the CME Group was responding to client interest and launching a Bitcoin Futures contract before the end of this year. CME stated that the contract would be cash settled based on the CME CF Bitcoin Reference rate, a once-a-day reference rate of the US dollar Bitcoin price at 4.00pm London time. In the run-up to the launch of the futures contract, the Financial Times has written a piece on the likely impact of futures trading on the Bitcoin price.
The title of the piece makes the FT’s view clear, “Prepare to bet against bitcoin as it becomes civilised”. We disagree with using the word “civilised” in this context (see below), but here is the FT’s take.
A top Deutsche Bank strategist speculates that we may be looking at the “start of the end of fiat money”.
Bitcoin was originally developed as a peer-to-peer electronic cash system that would free its users from the bondage of state-controlled currency and the erosion of wealth due to inflation. Despite its phenomenal growth, most mainstream financial analysts remain skeptical that it will ever achieve mainstream adoption – at least as a currency used for everyday transactions.
However, as Business Insider reports, Deutsche Bank strategist Jim Reid envisions that the current fiat monetary system could begin to collapse within the next decade, creating a climate that would encourage the rise of an alternative currency system.
Less than a month ago, Bitcoin was selling for less than $5000, but now it has smashed through the $7000 mark with seemingly no end in sight. At this point Bitcoin has a total market cap of more than 100 billion dollars, and some analysts are suggesting that it could eventually go as high as a trillion dollars. Cryptocurrencies overall are up an astounding 640 percent so far in 2017, and personally I regret not investing when Bitcoin was still in the very early stages. I always thought that governments would eventually crack down and regulate cryptocurrencies out of existence, and that still may happen someday, but it hasn’t happened yet.
One of the great things about Bitcoin is that it represents a medium of exchange that is not controlled by the central bankers. So when you use Bitcoin you are choosing to become less dependent on a system that is designed to financially dominate the entire planet. Any way that we can become more independent is a good thing, and so I greatly applaud the use of cryptocurrencies.
What “IF” the New World Order has been planned to be installed AFTER the coming (planned) financial collapse & hyperinflation, (planned) all-out civil war and (planned) WW3 all along?
500 million to 1 billion people are much easier to control than a world population of 7.6 billion people.
To install the NWO AFTER a massive worldwide depopulation ‘program’ has always be the plan.
“Everything calls peace, Schalom! Then it will occur – a new Middle East war suddenly flames up, big naval forces are facing hostiley in the Mediterranean – the situation is strained. But the actual firing spark is set on fire in the Balkan: I see a “large one” falling, a bloody dagger lies beside him – then impact is on impact. …”
(I’ve been informed that – right now – the Balkans are flooded with Al-Qaeda & ISIS fighters! I have also been informed – about a year ago – by another source that locals have even told their government about ISIS/Jihadi training camps, but there is no response whatsoever coming from the government.)
Destabilization is well on its way everywhere you look.
Continue to prepare for total collapse (and global cooling & empty supermarkets) and read the commentary (by reader squodgy) down below.
In November of 2014 I published an article titled ‘The Economic End Game Explained’. In it I outlined what I believed would be the process by which globalists would achieve what they call the “new world order” or what they sometimes call the “global economic reset.” As I have shown in great detail in the past, the globalist agenda includes a fiscal end game; a prize or trophy that they hope to obtain. This prize is a completely centralized global economic structure, rooted in a single central bank for the world, the removal of the U.S. dollar as world reserve currency, the institution of the SDR basket system which will act as a bridge for single a global currency supplanting all others and, ultimately, global governance of this system by a mere handful of “elites.”
The timeline for this process is unclear, but there is some indication of when the “beginning of the end” would commence. As noted in the globalist owned magazine The Economist, in an article titled “Get Ready For The Phoenix,” the year of 2018 seems to be the launching point for the great reset. This timeline is supported by the numerous measures already taken to undermine dollar dominance in international trade as well as elevate the International Monetary Fund’s SDR basket. It is clear that the globalists have deadlines they intend to meet.
Goldman Sachs CEO Lloyd Blankfein is not comfortable with bitcoin, but he says that he understands that it may ultimately prove to be the next step in the evolution of money
The investment banking executive, who last month used a rare tweet to state that he was “thinking about bitcoin” but had not formed a definitive opinion, shared his updated thoughts on cryptocurrency in an interview with Bloomberg held at the investment banking firm’s Sustainable Finance Innovation Forum in New York.
He stated that the thought of bitcoin gave him a “level of discomfort” but conceded that he felt the same level of skepticism when he first encountered the cell phone:
“I have a level discomfort with [bitcoin], as I have a level of discomfort with anything that’s new,” he said. “But I’ve learned over the years that there’s a lot of things that work out pretty well that I don’t love.”
A self-described history buff, Blankfein reflected that the evolution of money has taken paths that many people from earlier eras might not have predicted. “Maybe in the new world, something gets back by consensus. Instead of a government fiat, maybe it’s a consensual arrangement by people that agree that it’s worth something,” he stated.
Consequently, Blankfein does not intend to let his personal discomfort get in the way of a potentially disruptive technology. Perhaps this is why Goldman Sachs is considering launching a bitcoin trading operation at the same time that JPMorgan CEO Jamie Dimon is publicly threatening to fire “stupid” employees who engage in bitcoin trading.