SHORT Bitcoin - A Prophecy of the Future (Round III)
What you think can happen and what is actually happening are two entirely different things.
This thread is only a repost of the original because time.
That being said, I no longer have any confidence whatsoever in crypto. In fact, I'm pretty sure the VC/Banking sectors have been establishing ways to do everything crypto does but with fiat money.
So, really, it's only gamblers and the delusional who spend all their time on the Internet that think this is going to be the "new global currency".
You're being extinguished.
Stop the Organ Harvesting Persecution of Falun Gong Practitioners by the Chinese Communist Party
2. Blockchain for infrastructure isn’t awesome. It’s slow transactions, hard to grasp real latency. Peernova runs the banking ledgers for the USA and it does 1.3million transactions per second at minimum.
3. Institutional players have been in crypto for a long time. Mostly in arbitrage and and HFT. Some people point out JPMorgans adversity to BTC. JPMorgan has an ETH fork and has been using Jump for HFT against BTC for a long time.
4. Anyone whose studied block transfers, actual fiat trades patterns for ICO liquidation’s, exhange short plays would realize this bear market is part of the cycle.
5. Over 80% of BTC of walkers with over 900 BTC have made less then 20 transactions.
6. While several people bought BTC at 17-19k, very few if have done an analysis on why it reached that high by looking at actual trade data.
7. Anyone who has worked in technical network infrastructure at scale understands the challenges all these blockchain projects have. While some of the progress has been awesome which teams actually come from building globally distributed infrastructure? Few of any from what I can tell. This is a problem as many investors got sucked into hype.
8. Even if you have blockchain scalability and security infrastructure worked out then integration into real world systems is hard. Legacy protocols, regulations and businesses/industries that treat IT and tech as an expense not a product.
9. Decentralization is a myth in reality. It’s trivial for ISP’s to port block 1. Crypto is not a threat to banking post 2012. In fact fiat is more a threat to US BANKING. Please try to take out 100k in cash from your bank. How about 10k? It’s close to impossible. Over 90% of US fiat is used outside the country.
10. It amazes me that in an open system with so much data the thing people care about is price analysis. The whole financial price theories were born in markets with limited public data.
Unfortunately the things you are saying are true. Crypto was identified as a threat by the Enemy and now they are trying to destroy/control it as much as possible. Bitcoin is permanently capped at a 1mb blocksize, completely destroying it's utility as a currently. The BCH crowd simply does not have enough strength behind them to advocate bitcoin cash to become something that can compete with FIAT. Bitcoin could have done it, but the community was destroyed and fractured and divided through censorship, manipulation and propaganda. In the long run though, I still believe in Bitcoin Cash.
It was fool hardy to think that those who have trillions of $$$, the central banking industry who can literally print out unlimited money for themselves, as well as the Military Industrial Complex, an industry which makes billions off of war and off of slaughtering millions of innocent people, would just allow this Magic Internet Money to come along and steal their multi-trillion $ lunch. It was child's play for them to take control over Bitcoin's development cycle through blockstream, and now they are manipulating the market by crashing the price and taking control over the majority of the supply. This will allow them to permanently suppress the entire crypto market, since everything follows bitcoin.
The people trying to destroy and control crypto today have a very obvious agenda. That is domination, control, and endless war. They will not allow this fledgling technology to upset their plans for the future. At this very moment, plans are being made for war with Iran and further in the future, probably also Russia. Although Crypto is still a useful tool to fight them, it won't be enough on it's own. We have to find a way to stop these people from destroying this entire world, because at this rate, it looks like there is nothing that can seriously stop them. I hope Crypto will be able to break free from the controlling grip of these extremely hostile actors, but it will take time, and it's going to be a difficult fight. We are literally in a fight for the future of the human race and of this entire planet, and Crypto is just one piece on the chessboard.
Good luck friends, we're gonna need it.