While the media is obsessed with Trump bashing, the world of business continues to turn. One such turn is cyrptocurrency which is smashing the markets right now and getting very little media attention that is positive. In fact, the major banking institutions missed the boat, and curmudgeons that they are, they are determined to ignore reality. And reality is:
Bitcoin – up 2125% in 12 months
Litecoin – up 9800% in 12 months
Ethereum – up 7266% in 12 months
And still! The major outlets either ignore these stats, or refuse to acknowledge that they happened and claim it is all a crash and die bubble.
Maybe. But – maybe not.
Some of the bigger companies already accepting Bitcoin include; Microsoft, Overstock, Subway, WordPress, Reddit, Expedia, Virgin Galactic, Wikipedia, etc… Russia recently announced that in response to the continued sanctions, they may team with Iran and Venezuela to drop the US dollar as their primary currency for trading oil and revert to cryptocurrency. They did not specify which one.
As of December 10th, futures trading on the Cboe Exchange was launched creating a frenzy of buys and sells. This is not for the faint of heart. When a correction occurs, which is frequently now, it easily shapes into a 20-25% curve. Exchanges crash temporarily unable to hold up to the massive volume, and the ride continues.
So why did the major banks and financial institutions avoid the crypto surge? The most obvious reason is because they don’t have control. It is outside of the Federal Reserve heavy hand, outside of government’s Big Brother hand, and thus a free reined Bronco!
In addition, the existence of money outside of cash may ultimately effect lending and mortgages as money can be made available through an open source peer to peer market without interference, or hefty interest rates.
More importantly, Cryptocurrencies undermine the Soros Cabal because they are no longer in control of the economy, the spending, and the flow of money. While claiming that cryptocurrencies promote money laundering, the truth is, money laundering is already well entrenched in the offshore banking industry in which Soros is well ‘funded’, avoiding taxes, and hiding – money. So the argument is relatively benign.
Cryptocurrency should be the story of the year, and yet the media is dragging it’s feet, and instead promoting stories in their Business Section like: Sexual Harassment and HR, St Louis Reconnects With The Gateway Arch, The Alternate Right Created A Parallel Internet, Will Robots Take Our Jobs, Alabama’s Election Reshaping Washington, Trump Escalates Criticism of Media, etc… BORING.
And the DOW went up .56%…
There are currently roughly 125 Hedge Funds investing in cryptocurrencies as of October. The top five crytpocurrencies now have a market cap of over $406 billion. DAILY trading volume of just the top five is well over $29 billion. But hey, this is just a bubble?
There are 1344 cryptocurrencies with more coming online as the concept of a free market explodes. Millennials are driving the trading as they pour every available dollar into what they see as ‘the future’. And the codgers will be left behind because as currency trading shifts from standard currencies, the dollar, the Euro, the Yen will take a nose dive.
Futures trading will impact crypto trading simply because it offers the ability to short the market, something Soros may manipulate. In the meantime, CME, the world’s largest futures exchange is slated to launch futures trading in Bitcoin December 18th. It is thought this will usher in the ETF’s and an entirely new platform of trading.
LET THE GAMES BEGIN!
Great Post!
Yes, Swamp will manipulate all they can. Central banks will try to keep control. No doubt in between issuing warnings about it they are scrambling
Bitcoin is indeed the rage, but you have to try to keep a kind of skeptical perspective with everything. I am kicking myself for not jumping in really early, only because the bitcoin value has exploded so dramatically to now.
BUT right now almost all the value increase in the last year or so is from investors only to profit by selling later. The It is in a bubble stage right now for that reason. It has other value as a “currency” independent from the dollar. There’s no credit bubble here, I haven’t heard of any banks lending on interest. That probably has something to do with the volatility.
In countries with runaway central bank-fueled inflation, it’s being used to preserve value and more so for international movement of value.
Bubbles pop, and bitcoin has some volatility. Bitcoin likely has a good run still ahead of it, and good chance it will stabilize at a value higher than it is now. As it goes up and up, transactions will become more and more fractional.
A major plus with Bitcoin is that it is evolving independent of the central banks.
The best thing Bitcoin has contributed is probably the idea of blockchain to secure transactions and agreements. At the one meetup I was at about bitcoin, there was one businessman who said he was most interested in that aspect.
Russia is talking about a blockchain-based ruble. Russia, Iran, Venezuela are also discussing going to e-coin. Maduro already said they were going to go to a petro-coin or some name like that.
Hard to say how things will go. Seems Ron Paul is now into bitcoin. That’s pretty big, he’s of the Austrian school of economics. Other Austrian economists have not said much about it that I have seen.
Yes on Russia -Iran – Venezuela convergence, I did mention that, which is also what is shaking the boots of Soros and his Cabal, as well as the future value of all currencies. Has the possibility to eradicate/drastically alter VISA and credit cards, as well as Mortgage Lending. Control is the major factor. Can the people win? Can people become the government? Can this be the fall of the Soros?Rothschild Empire? Perhaps. You can bet, they are busily mastering their art of manipulation to somehow squelch this people frenzy!