Authored by Michael Snyder via The Economic Collapse blog,
Demonization is the first step toward making something illegal.
Over the past couple of months, Bitcoin and other cryptocurrencies have experienced a tremendous surge in popularity. Personally, I was completely floored the other day when my nephew wanted to ask me questions about investing in Bitcoin. It seems like the whole world is getting caught up in the cryptocurrency revolution, and needless to say, the powers that be cannot be thrilled about this. Independently-controlled cryptocurrencies represent an existential threat to the global debt-based central banking system that we have today, and so the elite have a very strong incentive to bring about the demise of Bitcoin and other emerging cryptocurrencies.
So it is no surprise that one of the key mouthpieces for the elite, the Washington Post, has begun to demonize Bitcoin. And if you are going to demonize something, one of the fastest ways to do that is to link it with racists. The following is an excerpt from an article that the Post just published entitled “Bitcoin’s Boom Is A Boon For Extremist Groups”…
Even before Charlottesville, Richard Spencer, a prominent member of the alt-right, a group that espouses racist, anti-Semitic and sexist views and seeks a whites-only state, had gone as far as declaring bitcoin “the currency of the alt right.” But far-right political leaders and experts on extremist movements alike say the adoption of bitcoin gained new urgency after Charlottesville as extremists looked for ways to operate beyond the reach of government control and the shifting policies of U.S. tech companies.
For those of us that are accustomed to thinking critically, we see right through what the Washington Post is trying to do. The Bitcoin phenomenon has absolutely nothing to do with Richard Spencer and his ilk, but every time the liberal elite want to demonize someone or something they trot out their favorite boogeyman once again.
Just like every other currency, Bitcoin can be used for good purposes or for bad purposes. But the Washington Post article would have us believe that Bitcoin is at the core of some great “racist conspiracy” that is about to take America by storm…
Extremist figures who invested in bitcoin as a bulwark against efforts to block their political activity now find themselves holding what amount to winning lottery tickets. The proceeds could be used to communicate political messages, organize events and keep websites online even as most mainstream hosting services shun them, experts say.
The truth, of course, is that these sorts of racists are a very, very small fraction of one percent of the U.S. population. They are so small in numbers that they are not even worth mentioning, but the Washington Post and other liberal outlets love to give them attention because they make the perfect enemies for the narratives that they are trying to promote.
Later on in the article, there was an effort to link Bitcoin to drug traffickers, money launderers and those who use the Internet for other dark purposes…
Extremists are hardly alone in benefiting from surging bitcoin values. Early buyers include cryptography enthusiasts, libertarians and professional investors – as well as drug traffickers, money launderers and others who regularly conduct transactions on the “dark Web,” a part of the Internet only accessible using specialized software that helps shield online activity.
The “logical conclusion” that many on the left are going to come to after reading such an article is that Bitcoin must be banned.
In the months and years ahead, I would expect to see a major push to crack down on cryptocurrencies. And once independent cryptocurrencies have been dealt with, the elite will promote their own versions as the long-term solution.
According to the Post article, the Southern Poverty Law Center is currently tracking 200 Bitcoin wallets that they believe are owned by extremists. Apparently, every single transaction that involves these accounts is being monitored…
Public blockchain records make such monitoring possible. Researchers can study the times, dates and amounts of any transaction, along with what accounts are involved. That does not include the actual names of account holders, but such records can illuminate identities. The SPLC, for example, looks on the donation pages of extremist websites for bitcoin accounts that are seeking contributions.
If the elite are ultimately able to convince the general public that Bitcoin and other cryptocurrencies are for racists, criminals, tax evaders and drug dealers, that will make it much easier to crack down on them.
But of course blockchain technology is here to stay. Once the elite are able to move the public away from “unregulated cryptocurrencies”, they will simply introduce “Fedcoin”, “Utility Settlement Coin” or whichever other digital currency that they want to promote at the time.
For the moment, however, the cryptocurrency revolution is still raging. Even as I write this article, the price of Bitcoin is flying all over the place. At the moment it is sitting at $14,730, but that will change in a few moments.
I would anticipate even more volatility as we head into 2018, and other experts seem to be of the same opinion. For example, just consider what Nick Colas is saying…
Nick Colas, co-founder of DataTrek Research, has been following the bitcoin phenomenon for at least four years. Looking ahead to 2018, he sees more volatility for an asset that has soared nearly 1,600 percent over the past year.
In fact, he figures bitcoin could slosh in a range between $6,500 and $22,000; it was around $15,750 in Wednesday morning trade.
“Bottom line: bitcoin can rally to $22,000 and still be reasonably priced, or plummet to $6,500 and also be correctly valued,” Colas said in his daily note. “We expect to see bitcoin trade for both prices in 2018.”
But as I have said before, the key to this phenomenon is not how high the price of Bitcoin can climb.
Rather, the key is if Bitcoin or other cryptocurrencies can truly become methods of exchange that are widely used outside of the control of national governments and global central banks.
If we can create a truly autonomous financial system that is independent of the current debt-based system, that would be a wonderful thing for humanity.
Unfortunately, the elite are going to fight very hard to keep that from happening, because control over currencies is one of the main factors that allows them to have so much control over the entire planet.
* * *
Michael Snyder is a Republican candidate for Congress in Idaho’s First Congressional District, and you can learn how you can get involved in the campaign on his official website. His new book entitled “Living A Life That Really Matters” is available in paperback and for the Kindle on Amazon.com.
Comments
Little known fact: All Confederate Statues were made with melted-down Bitcoins.
War on Cash
War on Gold
War on Bitcoin
anything that takes you out of the FED fractional reserve nirp zirp QE monopoly money system
will be deemed "suspect" and need to be surpressed.
they can't go too hard on gold because of its history. everything else is fair game.
and where does trump stand on the war on cash?
oh yeah - fucking silent
but he's got a million words about Mika's face and other bullshit
In reply to Little known fact: All… by E.F. Mutton
I bought a bag of weed with Federal Reserve notes once, should they be banned?
In reply to War on Cash… by Bes
Ha ha ha so did I. LoL
In reply to I bought a bag of weed with… by JimmyJones
Up arrow
In reply to Ha ha ha so did I. LoL by Mike Masr
ditto
In reply to Up arrow by Badsamm
They will wait for more morons to sell their gold bullion and switch the proceeds into bitcoin. Then comes the big crackdown. Not necessarily banning it, but just introducing a FED-approved version of it.
Until then, enjoy the crypto-party . I certainly will. And I will keep my gold, that's for sure.
In reply to ditto by Schmuck Raker
>Implying anyone can use bitcoin for anything
In reply to They will wait for more… by fx
$650 billion of US $100 bills (65%) are in foreign hands.
In reply to >Implying anyone can use… by tmosley
The Southern Poverty Law institute is an extremist group, they need to be shut down.
In reply to I bought a bag of weed with… by JimmyJones
upvote
In reply to The Southern Poverty Law… by JimmyJones
Ban the bag or the notes?
In reply to I bought a bag of weed with… by JimmyJones
I sold a bag of weed for Federal Reserve notes on multiple occasions.
Standard Bitcoin Disclaimer: I sold you something for FRN's that grows for free. I sold you something completely virtual for FRN's, and you can't even smoke it...
In reply to I bought a bag of weed with… by JimmyJones
Just an FYI for ya'll! The Washington Post is A terrorist front organization posing as a media group for the CIA.
How is that for demonization?
In reply to War on Cash… by Bes
Like more ZHers, we all long for the day when Obama's 50 ft golden statue will be built in South-side ChiTown...
In reply to Little known fact: All… by E.F. Mutton
Count me in as extremist then. I feel at ease around people of the same skin color as me. Of course naggers are going to be the last to understand bitcoin. They were to busy stealing, shooting and world-staring to pay attention.
I am very interested in crypto, because I am tired of feeding these morons while they claim racist, affirmative action, and vote for white guilt.
In reply to Little known fact: All… by E.F. Mutton
Apparently you were also "to" busy to go to get an education.
In reply to Count me in as extremist… by atlas_crumbles
Upvote
+1 General Lee
In reply to Little known fact: All… by E.F. Mutton
Ever wonder where all the inflation went? First it went to the sick market. Now it's in bitcoin. Fiat/Dollar denominated assets are toast. Happy Friggin New Year.
'Bitcoin is being used by fools.'
Fixed it.
In reply to Little known fact: All… by E.F. Mutton
Little known facts about Finance, Criminals and Terrorists, that's ignored & suppressed by Academia, the MSM and the Governments:
1. By far the most common currency used by criminals and terrorists, is the USD. Then the EUR. The remaining ones are chump-change, by comparison.
2. By far the most powerful and dangerous Criminal consortium, is the Private Cartel of fiat Bankers, that have hijacked the Central Banks of almost all countries. They are led and dominated by the Supreme Leader: The US Federal Reserve and its hidden, private shareholders.
They are the "Enemy of Mankind", that must be eliminated for the good of all mankind ("Hostis humanis generis. Delenda est").
If you're going to clean house and eliminate all the cockroaches, you remove all your non-sealed foods, tent the house and fumigate it. So it is with these rentier Parasites: Clean, Tent & Fumigate! Not one cockroach escapes, that would create a new colony of financial Parasites. After that, no CB shall be private. Only a country's Treasury may issue Money -- Debt-free money -- that may be distributed on a 1-time miniscule fee to all banks and trust companies.
In reply to Little known fact: All… by E.F. Mutton
Who fucking cares, there's thousands of other crytpos and BTC is going back down to test it's lows, it's so 2010, the cool kids are using darksend, stealth addresses and shadowcash.
https://www.tradingview.com/chart/BTCUSD/w8PdXlsX-Be-aware-2nd-intense-…
In reply to Little known fact: All… by E.F. Mutton
So called "elite" scumbags have already lost.
Like hitler, getting an ass whipping on all fronts.
ass whipping on all fronts?
you know what I mean
In reply to So called "elite" scumbags… by wisehiney
Already lost? What did you put in your coffee this morning; and, I want some.
In reply to So called "elite" scumbags… by wisehiney
Multi-bullion dollar banking industries aren't going to just rollover and say "ok, you win bitcoin"
Who gives a fuck what WaPo says?
WaPo glows in the dark.
If Trump and people in this forum didn't constantly bring it up, I wouldn't even know what "huffPo" was; honestly. I also would have forgotten about Rosie O'donnel (much like memories of assholes from high school slowly dissolve) and other sjw's that constantly get discussed.
In reply to Who gives a fuck what WaPo… by e_goldstein
it is...clintoon/boosh crime famblies.
As per Tyler,
We have already said this 3 times today:
We are currently upgrading our Drupal server software and there may be some glitches in the transition over the next day or two. We are aware of the loss of the comment voting and we are working to restore it shortly. Please bring to our attention any function losses or other glitches during this transition.
-Tyler Durden
At first I thought I was banned.
Then I realized the Fed or the Russians are behind this
In reply to As per Tyler,… by Chupacabra-322
+1
In reply to At first I thought I was… by U4 eee aaa
+1 Chupacabra.......Comments are not worth it today, think I'm gona let the software update dust settle and just come back tomorrow.
In reply to As per Tyler,… by Chupacabra-322
Privacy coinz bitchez......
Hell yes, most still broadcast your IP, trying to figure out which ones don't
In reply to Privacy coinz bitchez...... by FreeShitter
This is just the beginning of the greatest hostile takeover in world economic history.
Stock up on popcorn, get comfy and watch the show boys & girls, it's going to be epic.
Somebody start killing people already.
It is the duty of the man who recognizes a need to be the one who carries it out.
In reply to Somebody start killing… by EcoJoker
Funny how big banks like HSBC can launder drug cartel money and get a slap on the wrist - and barely any press about it.
Yet somehow Bitcoin is the problem.
LOL
Fiat has been dirty for a long time, but let's ignore that, eh? Fucking morons.
+1 exactly
Its different spending bitcoins when they can't print more.
Fiat is the money of choice for every vice, but oh lets all focus on BTC because it can't be manipulated or seized easily.
In reply to Funny how big banks like… by Exponere Mendaces
The way the global financial system (global fiat Ponzi) works, is FBO its (((Owners))) and Shareholders. They run national Plantation of Taxation & Debt, and you are their Subject, their Vassal, their Slave. They may trade/recycle each other's fiat, but it all stays in their Global System.
What you -- as a Subject, Vassal or Slave -- may NOT do, is to "leave their plantation". You may not "Opt out", unless you join the destitute Homeless millions. You may not use alternate form of money or currency that remains uncoupled from their System.
If you elect to "Go Galt" -- to create your self-liberated Parallel Economy -- you compete with them, and that they will not allow. To (((Them -- "They Live"))), you are a Rogue agent, a Pirate, a Free Colony, that must be contained and re-enslaved or exterminated. To set an example for others.
Since they will fight you to the death anyway, you might as well pick a side and plan accordingly. (Not "picking", means that you're staying on the Plantation -- having identified yourself as a cowering chickenshit or Stockholm Syndrome idiot).
In reply to Funny how big banks like… by Exponere Mendaces
WaPo hit piece will just bring more awareness to the digital currency space.
Bitshares is decentralized.
The largest bullion dealer in my state no longer accepts cash.
It's too much hassle, they said.
Wire transfers or cashiers checks only.
The war on cash is almost over and cash will lose.
many still do... screw that guy and move to the next one
In reply to The largest bullion dealer… by directaction
Is Richard Spencer on the WaPo payroll? They quote him more than their own fools
Bitcoin is used by drug dealers, this is well known. It was the primary means of paying for drugs on the Silk Road. Marijuana shops can't open bank accounts, the banks won't allow them, Bitcoin is the perfect currency for them. Marijuana is being legalized in many states, and Bitcoin will be their currency. It records transactions, unlike cash, so if you are buying and selling Bitcoin, you are at risk of being associated with an illegal activity.
Pot shops use Pot Coin. Check it out.
In reply to Bitcoin is used by drug… by PitBullsRule
Most drug dealers use 200 EUR notes, or USD $100 notes.
In reply to Bitcoin is used by drug… by PitBullsRule
Demonization Begins - WaPo Ominously Warns That Bitcoin Is Being Used By "Extremist Groups"
Old news; dont forget virgin Millennials buying love dolls on the Dork Web...LOL...
Bitcoin is discovery what drug dealers have known for 100 years. Its not that the government does not want you to have a currency. They want you to have THEIR currency. Same thing with drugs.
Pagination