Bitcoin Going The Way Of The Dollar?

Do you want FREE Bitcoins?Now considered a virtual souvenir, Bitcoin was once hailed as “…the new gold standard for online transactions…”.  With more than 90% of the Bitcoin market still to be made available, and the process of “mining” them becoming exponentially more difficult and expensive as time progresses, those ethereal trinkets are not only losing value in the durable goods market, but even in the virtual goods market(porn, online gambling).

As the difficulty level continues to rise along with price of the equipment necessary for processing information(mining Bitcoins), it’s a wonder the federal government  hasn’t set up a few grants to a few big time universities to take on the task of mining up all the available Bitcoins left.  With unlimited funds to disperse as a result of being, well, those who manufacture money themselves, they, the “government”, could commission a lightning speed mining machine capable of “finding” the rest of the un-mined  Bitcoins.  A facility with as much computing capability as NASA might do the trick… wait a minute… isn’t NASA undergoing some sort of dormant stage as a result of “funding cuts”?  What a perfect opportunity to put all that unused equipment to work, aye?

The main contenders in the market for pushing the Bitcoin scam on weak-willed individuals are the porn industry, online gambling industry, and the few e-bay-ish sites that trade exclusively in Bitcoins.  Then of course there are those “advertising” websites which are more like paid to click or paid to watch sites, and the “get paid to complete offers” websites as well.Pay for your website's advertising with BITCOINS!

Bitcoins, in reality, are bought, not mined.  The real winner in the Bitcoin bubble is the Federal Reserve.  When Bitcoins are purchased with Federal Reserve Notes, and are then spent on virtual items such as video game upgrades, software, porn, advertising, or gambling, and “black market” items, it’s just like buying poker chips from the beginning, with the credit card companies right there waiting for you to click “purchase” on a Bitcoin exchange marketplace site, as arms of the Federal Reserve with their hands out.

What isn’t realized by the free-marketeers who love the idea of this currency, is that there are going to be some dramatic, deliberate manipulations of it, by the very same entities which manipulate all major currencies around the world.

This can be done in several ways:

  • Re-wire NASA to become a mining machine; this can also be applied to any other government agency with lots of dormant hardware, thus becoming the owner of Bitcoin, and all of it’s users, more or less.
  • Simply set up a bot which purchases bitcoins all day long with unlimited Federal Reserve Notes via a Federal Reserve Bank company credit card, essentially buying up the entire Bitcoin exchange marketplace, with money it created out of thin air, and paid to itself.
  • Suppressing technological advancements that would otherwise enable hobbyists and entrepreneurs to discover and refine more efficient mining methods.  Adding a few lines of code to the FCC Regulations could take care of this.  Invoking the use of arbitrary numbers and linking them with arbitrary facts could prevent the manufacture of super high end GPU’s from ever taking place.
  • Actually regulating Bitcoin transactions, or in some way taxing known, popular mining equipment.  Requiring a permit to purchase mining equipment, and regular audits of mining software, thus enabling a tax on hashrate.

With artificial manipulation being the name of the Fed’s game, it shouldn’t come to anyone’s surprise if and when Bitcoin actually becomes a thing of the past.

Do you want FREE Bitcoins?

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8 thoughts on “Bitcoin Going The Way Of The Dollar?

  1. As you may have noticed, I looked at the bitcoin issue a bit….recently.. In any event, it really didn’t seem to make much sense to me, but it did seem that people really were using them. There did seem to be some kind of scandal, maybe that was the beginning of the end??

    On the other hand, if I had the money, I think there are ways to do something similar and make it work.

    • yes, they are definitely being used, but i think the point of it is, is the global banking “rulers elite” see it as competition, and they hate competition
      they will find some way to control it, if they haven’t already
      there are millions of forms of “bitcoins”
      think of mmorgp’s, such as world of warcraft… players build up several characters and get them all souped up over time, with a pretty ample monthly fee
      sure, one could churn out decent characters and sell them, or even within the game there is the currency based in that world that you can also buy with federal reserve notes
      guarantee the fed is printing money and buying bitcoins

  2. 5 responses to Bitcoin Going The Way Of The Dollar?

    1. Ever consider fact checking what you read? Doesn’t appear bitcoin has reduced in price in an significant amount. In fact, looks like it has continued to increase in the past year, currently at around $12 per 1 BTC:

      http://bitcoincharts.com/charts/mtgoxUSD#rg360ztgSzm1g10zm2g25zv

      • @capob made you look
        yes i fact check, did you read the entire article? or are you just commenting on the title?

        • ” those ethereal trinkets are not only losing value in the durable goods market, but even in the virtual goods market” – this would only occur if their exhange rate fell (which it has not), or it would occur if the quote were being rather duplicitous and speaking on specifically what you can directly buy with BTC.

          “The main contenders in the market for pushing the Bitcoin scam on weak-willed individuals”
          Without the argument that the BTC is going to lose most value, you have no case for calling it a scam. Without evidence or theory as to why it will lose most value (which you have not provided), you have no backed claim that it will lose value, and no backed claim that it is a scam.

          This article is all over the place; and, while I did read it fully, I considered it a piece of propaganda (which it is) and only responded to one of the points.

          • When the power goes out if or whenever it does the regular banking system will fail. The miners might be offline for a while but all offline funds will be secured and can be thrown back online when we get the rigs up and running again. Debt based currency is destroying our relations with the world.

          • @capob yes although it may be propaganda, or perhaps cynicism, all i can gather from the article is that there is a possibility that the government ie. the federal reserve bank could procure virtually all of the bitcoin market, hoard it, mine it all, just like they have with the coinstar machines you see in every supermarket across the nation
            you do realize that that machine is not there for your convenience at all… it is there to attract WEAK-WILLED people to dump their change jars into that they’ve been saving since they were a kid, and give up all their REAL money (silver) to the bank
            this is the same concept for the theory put forth in the article
            take a breather man, don’t have a heart-attack over someone badmouthing your silly video game money

  3. Pingback: A Closer Look At The BitCoin Revolution « Hegelian Dialectic

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