Read this before you sell your altcoins or your Bitcoin.
The elites are not afraid of Bitcoin. The elites you should be afraid of are. The elites who have no business wasting any more of our precious air breathing. Those elites, are more afraid of Bitcoin than they are Gold or Silver. Why? Even with Margin Trading there is no place they can go and sell you fake Bitcoin that don't exist anywhere. Ok maybe GOX was that place for a while but I digress. If you control your private keys. You control some real immutable fraud proof Bitcoin. Bitcoin is not just the tool that will make lots of millionaire in the coming months and years. But the backdoor in the matrix that slowly develops in to a black hole. Sucking every investor, average joe and internet nerd in to the real world by force.
Now lets get technical. JP Morgan owns the banking regulators and they think they own our politicians also. This has allowed them to go in to Silver markets and place obviously manipulative orders. Yes you can do this on a Bitcoin exchange. But you know what you can not do? Print more Bitcoin to short with. JP Morgan has carte blanche (a blank check) to print fiat. That makes the size of their silver shorts literally infinite and the manipulation permanent. Well until we all get in on Bitcoin and force them in to honesty or extinction.
But @naturalista why don't they just make a paper BTC derivative on the NASDAQ and short it? They could do that but it would not change the price of Bitcoin because less than 21 million exist. It is too scarce for the size of their fraud to even work.
If JP Morgan shorted 40 million Bitcoin it would be an admission of fraud too bold even for plebs not to understand. Because we know only 21 million can exist. Silver deals in such huge numbers and is constantly in supply flux so plebs can look past the fact JP Morgan is shorting more silver than we pull out of the earth in a year. The real exchanges would simply ignore the JP Morgancoin similar to the devaluation of BTC stuck in GOX as it's fraud collapsed. Also I suspect the volume will remain places you can cash out to your Bitcoin wallet immediately and that is far from NASDAQ.
Jp Morgan James Dimon has said before if the https://www.justice.gov/ deems it illegal.. thats it that will kill bitcoin
lol, like making drugs illegal starved cartels? I think with Trump in the Whitehouse Bitcoin has nothing to worry about in any case.
You overestimate the power of government my friend.
What about bitcoin derivatives? They can make 40 million coins on a derivative option even with only 21 million on existence. I don't think the wealthy care so much about the actual product, if they can sell you an option for that product because they're assuming the average person doesn't know enough to successfully do it
BTW great article, not disputing that. Just playing devils advocate.
A derivative option such as you are talking about would be like creating a NASAQ Bitcoin altcoin that trades on NASDAQ and it would trade according to it's supply not Bitcoin's. What they are doing to Silver is telling people SLV is one to one with real Silver. A total lie. Then shorting it with monopoly money.
I don't think a single human is dumb enough to buy "exposure" to Bitcoin from people who own none. Or from any fund claiming to have created more Bitcoins through financial wizardry. If there were that market and the real Bitcoin market would simply separate entirely.
Interesting post, 100 % upvoted from @chanthasam
thanks chan!
Excellent points!
They can't manipulate the bitcoin supply like the silver market, great content!
"can't" But yes thanks!
I update the comment ;)
Yea def some good points.
Cool posts for bitcoin!!