Bitcoin Surge Explained and The Future Of Cryptocurrencies
Bitcoin prices are soaring, and today I was joined by The Dollar Vigilante, Jeff Berwick, to discuss the Bitcoin surge and the future of cryptocurrencies.
The price of a Bitcoin broke $1,000 this week, and Berwick said he has been monitoring the cryptocurrency since 2011 when it was at $3. He said he was initially intrigued by the fact that Bitcoin is the first real free market money, aside from gold and silver.
"It can't be controlled by governments or central banks, so I began covering it immediately in 2011 at $3, and made many millionaires through subscribers to the Dollar Vigilante," Berwick said. "Even last summer, I covered it very heavily when it was around $200, and I said 'this is your second chance to buy into it,' and it has been soaring ever since."
Berwick said he sees the rise in the price of Bitcoin as a reaction to the current state of the central banks, and the indebted governments around the world.
"The U.S. government is now just about to break $20 trillion in debt, going up massive amounts," Berwick said. "We have Donald Trump about to come in, that's causing a lot of confusion about what he might do. But he's definitely talking about spending even more money, so the U.S. dollar will continue to collapse."
Berwick described the current state as a "War on Cash," pointing to India's recent currency reset. He noted that today's version of cash is nothing more than paper, and said he believes that in 20-30 years, we will look back on today and be amazed at the fact that we put so much value in paper money.
"Now all of the government are so indebted that they have to move to negative interest rates," Berwick said. "So once they move to negative interest rates, a lot of people will just take their money out of the banks and say, 'Why would I keep my money in the bank if I'm losing 3 percent just be keeping it there?' So they're trying to get rid of cash now, and this is what's causing a massive demand for Bitcoin."
[Click here to check out the rest of the interview]
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We take BITCOIN too: 12HdLgeeuA87t2JU8m4tbRo247Yj5u2TVP
More and more exciting news for our cryptocurrency world uprising! Joy!!! Thanks a bunch for sharing, dedication to quality work and namaste :)
I think this bull market is going to take Bitcoin to new all-time highs because there's been a lot of organic growth under the hood since the 2014 peak. Bitcoin's becoming normalized, "blockchain" is becoming a fintech "thing", and Marc Andreessen was right when he said that cryptocurrency is the new Internet.
Who knows where Bitcoin will end up? In ten year, it might well be five figures.
Thanks for sharing. Huge fan of Dollar Vigilante. Upvoted and tweeted. Stephen
https://twitter.com/StephenPKendal/status/816797255982268418
Disclaimer: I am just a bot trying to be helpful.
You know...one thing u really should look into is bitshares. It actually made steem possible, scales like steem, lets the community vote to pay people for work on various projects the chain needs worked on...etc.
And it has a level of sep of powers that no other chain (including steem) cannot touch at scale.
Hope you are listening my friend. Great work and keep on helping. :)
I am a member of TDV for almost a year now. I allocate the small 1-5 % of my earnings to BTC as well as contribute the same to my goldmoney account. I do invest in exactly what is being preached here. If you aren't a member of TDV service, you should be. I have come up from on my way going down because of them. :) Highest recommendation!!! I will be joining luke starting today. Love him too now :)
I too invest in a Goldmoney account....think it's a good way to own gold. I acquired their goldmoney MasterCard but I never use it (usd account). I would probably use it should harder times unfold just as a mechanism for paying for necessities. I do like how schiffgold, bit gold and goldmoney came together on this one.
I am one of those guys that really....really wished I had more insight to bitcoin years ago. While I have made some cash on btc, would have liked to be one of those who invested for cents (or even a few dollars a share) compared to where it is now. Congrats to all who got in early. It'll be interesting to see what happens with all the discussion around hard-forking into btc and btu or with using segwit. I'd really like to know the benefits (or repercussions) of all this and how it will play out. Great article. It seems with economic chaos such as hyperinflation in Venezuela to the pm of India removing large bills from circulation only seems to put more power into the hands btc community. Just my two cents.