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Because Bitcoin was the first cryptocurrency, because it’s a household name, because it garners headlines, including being quoted regularly by financial news outlets, because what underlies Bitcoin, blockchain, is the technology of the future, a lot of people think Bitcoin conveys legitimacy on other cryptocurrencies
Nothing could be further from the truth.
Bitcoin is nothing more than an experiment that proves a blockchain cryptocurrency is possible.
It isn’t real currency. It isn’t a store of value. It isn’t a widely accepted means of exchange. It isn’t any of the things that it’s supposed to be, including proof that cryptocurrencies are the future of money.
Bitcoin is a false prophet of cryptocurrencies, with one exception, which will make you sick.
Beware the Fountain of Hope
Bitcoin is, or make that “was”, brilliant.
It captured the world’s attention, exploding like a meteor onto the world stage of currencies, and flowing not from the treasury of a country, and not from a central bank, but from “mining” operations of cyber-sleuths solving complex mathematical equations. Bitcoin was a beacon into the future.
If you don’t think Bitcoin put the fear of God into central banks, governments, and the global cabal of oligarchs and officers, you don’t know how potentially disruptive the crypto meteor could have been.
Because it was a threat to the powers that be, under the guise of “safeguarding” the world from terrorists and criminals on the silk road using the anonymous new form of money for nefarious purposes, government henchman and hacks nicked and stabbed bitcoin adopters who they saw employing the technology in service of the Dark Side.
But “they” didn’t stop bitcoin.
They only wanted to let the world know that they could, if they wanted to.
They let Bitcoin live for their own purposes, including not wanting to look like they were scared of the new technology, because their cabal cronies were working on their own blockchain products, and because they figured out that not regulating it to make it safe would cause it to fluctuate wildly and undermine itself completely in the process.
And that’s what happened.
Due to Bitcoin’s wild swings, it could never be a store of value, never be a means of exchange, and never be a replacement for government treasury or central bank issued currency.
Most other cryptocurrencies suffer, or will suffer, the same ultimate fate as Bitcoin or worse and will be revealed for what many of them are: Ponzi-like schemes.
The One Exception Is None Other than Facebook’s Libra
Libra’s the real deal. It’s a cryptocurrency that Facebook figured out how to anchor to the real world so its value wouldn’t fluctuate wildly, so it would be a store of value, so it could be a legitimate means of exchange and cheaper to use in transactions, so it could challenge the hegemony of the global cabal of governments and central banks who control economies and people through their money systems.
Because Libra isn’t a crazy cryptocurrency like Bitcoin, because it isn’t a Trojan Horse like Bitcoin was perceived to be, because Libra is a frontal assault on the global power apparatus, it was killed in its crib.
Like Bitcoin, all cryptocurrencies are false prophets of change and hope of breaking the corrupt world order.
That doesn’t mean the world will never see a cryptocurrency replace money as we know it.
That’s coming. And a lot sooner than you think. And guess who’s going to be behind it?
Exactly. The same global cabal that owns the money and money systems everyone uses every day will create their own cryptocurrencies to replace outdated money.
Money today in its various currency forms is now viewed as Bitcoin once was. It can be hidden, it’s mostly untraceable, and it’s easily daisy-chained to hide its origin or ultimate use. It’s a problem.
Cryptocurrencies are coming from central banks like the Federal Reserve owning America’s money supply and from governments that own their own money.
Because cryptocurrencies, whose so-called decentralized ledgers that make transactions traceable, can ultimately be centralized by their issuers, the same way Bitcoin’s miners can ultimately be traced as originators.
That’s where cryptocurrencies are headed. That’s what Bitcoin’s detractors have been working on. That’s why bitcoin wasn’t killed off, so it could be watched and perfected. And that’s why Libra was killed off, because it is what central banks and governments are bringing out.
And no one is ever going to undermine the global money cabal.
At least not any time soon.