via Zero Hedge – Another dip to be bought as the weekend’s pump’n’dump in Bitcoin has led to yet another new record high this morning at $11,850.
Bitcoin’s market cap is now $200 billion…
This resurgence comes after a week of considerably more active propagandizing from the establishment.
As we noted previously, this week has seen a new group of establishmentarians jump on to the offensive against anti-decentralization, de-control, pro-freedom cryptocurrencies – urging bans, crackdowns, fatwas, taxation, creating their own cryptocurrencies, demanding citizens sell, and outright confiscation (this group includes governments world wide and their mainstream media mouthpieces)…
Hyperinflation has driven thousands to seek out unorthodox currency.
From The Atlantic.com – Rene Chun In Venezuela, home to some of the worst hyperinflation since the Weimar Republic, a Big Mac costs about half a month’s wages. Or rather, it did, until a bread shortage forced the burger off the menu. The annual inflation rate is expected to hit 1,600 percent. Life resembles an old newsreel: long lines, empty shelves, cashiers weighing stacks of bills.
To survive, thousands of Venezuelans have taken to minería bitcoin—mining bitcoin, the cryptocurrency. Lend computer processing power to the blockchain (the bitcoin network’s immense, decentralized ledger) and you will be rewarded with bitcoin. To contribute more data-crunching power, and earn more bitcoin, people operate racks of specialized computers known as “miners.” Whether a mining operation is profitable hinges on two main factors: bitcoin’s market value—which has hit record highs this year—and the price of electricity, needed to run the powerful hardware.
Question #1) Apple produces iPhones. Amazon produces fulfillment services for millions of products. What does Bitcoin produce?
Digital Assets produce a functioning alternative to UNLIMITED RE-HYPOTHECATION of DEBT; that is called “The Federal Reserve” and “Debt as Money Ponzi scheme.” The value is in its processes, and the ability to be TRUSTLESS.
Question #2) Bitcoin’s “value” has increased by 350% in the last 12 months. What has Bitcoin introduced in that time period that would justify a 350% increase in its value?
It’s official: Google, Facebook, etc are now using Artificial Intelligence to automate many of their functions. Most particularly, the AI scans search, comments, videos, etc for “corporate policy infringements, marks the various media, and starts removing content from public view; as it is also linked to the Search Results.
These AI engines are blocking content about AI. These AI engines also block anything that goes against the “publicly preached historical beliefs.” The American Historical Association is/was the organization tasked with “keeping official American History.” For instance, the AHA is/was the reason why 9/11 can only be crime by “al-CIAda Arab Terrorists.” Everyone with a Social Security Number must “publicly comply” with the history that only the AHA has pre-determined. (Note: look into the AHA and Smithsonian Museum “unusual artifacts” warehouse/s) Any “Artificial Person” that goes again “its” programmed history is/was deemed “legally incompetent”… which is 99.9% of all people.
This could make Nevada a hub for blockchain startups and it certainly offers agorist opportunities. In this video, Vin Armani examines a brand new law in his home state of Nevada that creates a free-trade zone for cryptocurrencies and other blockchain applications exempting them from regulations. The law prohibits taxing and regulating blockchain businesses.
The goal is to “regulate bitcoin and virtual currencies.” However, there is nothing “legal” about virtual currencies. Digital Currencies are entirely NON-LEGAL and only LAWFUL. The NY-DFS has been sneaky about it too:
A business must obtain a BitLicense if it engages in virtual currency business activity involving New York State or persons that reside, are located, have a place of business, or are conducting business in New York.
Given all the non-sense with the banking system… and that there literally isn’t enough value to go around for most people on the planet, Digital Currencies are a perfect replacement available right this very moment, NOW.