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I think not unless they are in on it in some fashion.

Powell's comments saying BTC is a replacement for gold and not the dollar might of been nothing more than public deflection of private concerns.

The question is when are they going to kill it? My guess would be at the top.

I think not unless they are in on it in some fashion. Powell's comments saying BTC is a replacement for gold and not the dollar might of been nothing more than public deflection of private concerns. The question is when are they going to kill it? My guess would be at the top.

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[–] • 0 pt

They are more likely to push central bank digital currencies (CBDC). China is already rolling out a digital yuan. The likely path of the control freaks at the Fed is a digital shitcoin tied to an app as legal tender.

I consider it a possibility that bitcoin is a deep state creation but it won't replace the USD. Bitcoin is inherently deflationary and so at odds with central banks. If it is DS they may be using it as an inflation sink that they can flip the switch on when the moment is right. If it is not something they can control expect them to criminalize it at some point. I'm not sure how this would affect it. People would be locked out of the exchanges but it would create a black market in cryptos.

[–] • 1 pt

Well BTC had close to a trillion dollar market cap here recently. If they killed the US market for crypto they could effectively remove 10-20 trillion from the greater economy. Maybe that's it?

[–] • 1 pt

Maybe they are using it to prepare the way for FedcoinTM The MSM shill pretty hard for bitcoin. It is only a brand after all. MSM point to its mooning while denigrating it as a tool for criminals. When the Fed introduce their own CBDC normies may be primed to accept it more readily thinking they are getting a bitcoin equivalent rather than a shitcoin.

Just had a thought, maybe they confiscate it like they did to gold in the 1930s. There are some big corps in the space now who would have to be compensated. It couldn't be made illegal overnight.

Anyway, Bitcoin is not the future, Cryptos may well be but Bitcoins value is in its brand and its network. I don't think it has the legs that the true believers do. I wish I had thrown a tenner in the pot back when it was less than a dollar a coin but I would have cashed out long ago. I thought about it in 2017 but saw MSM starting to shill and took that as a warning sign and I was correct. I thought about it again last year, even told people it was a good time to buy, but opted for PMs instead so I called that one wrong, possibly. Yes BTC 10x'd and my PMs are monkey hammered daily but I own my PMs. They are physical and have near universal recognition as valuable. The 10xing of bitcoin is possibly abberant and it may tumble at any point and the exit will be very quickly crowded. I am hoping PMs are the tortoise in this race