I knew once the likes of the Wall Street Journal and New York Times started writing about Bitcoin it was only a matter of time before the Government initiated its plan to discredit and eventually make the anonymous and decentralised currency illegal.
"We need a way to publicly discredit this non-controllable currency alternative without raising suspicion"
"Well sir, I have a plan. How about we tell the public only criminals are using Bitcoin to launder money, criminals are selling guns and drugs to students and paedophiles are using it to sell child pornography. We'll make the public eventually beg us to ban this currency and when people complain we are being unreasonable or have ulterior motives we can proudly say we are only doing what you asked us to"
First and foremost money laundering isn't a new practice. Mobsters in the 20's were laundering money, Laundromats, cafes and nightclubs are perfect fronts for money laundering operations as well. Yes, no doubt Bitcoin is being used for nefarious purposes (look at Silk Road for a perfect example), but lets not lose our cool over this.
What we are starting to see is a coordinated effort by the US to remove the threat that is Bitcoin. While I have no conclusive proof that is the case, it's not rocket science that too many people benefit from the current monetary system to not want to see it become less relevant or have its dominance threatened in any way, way or form.
The powers that be didn't think much of it in the beginning, but Bitcoin is starting to gain a lot of traction, not to mention we are starting to see the currency stabilise.
i hate to admit it, but where there is smoke, there is fire.
I predicted that the financial elites who owns the banks and control cashflow (such as the holders of shares of the privately owned fed reserve) would not want a form of currency they cannot debase at their will. Gold was first to go in the 70's, and now bitcoin, having similar properties of gold, is on the crosshairs. I can only just hope the general public has enough sense to see through propaganda. Bitcoin survival depends on it going mainstream, and its the one weakness no technology can solve.
"We need a way to publicly discredit this non-controllable currency alternative without raising suspicion"
"Well sir, I have a plan. How about we tell the public only criminals are using Bitcoin to launder money, criminals are selling guns and drugs to students and paedophiles are using it to sell child pornography. We'll make the public eventually beg us to ban this currency and when people complain we are being unreasonable or have ulterior motives we can proudly say we are only doing what you asked us to"
First and foremost money laundering isn't a new practice. Mobsters in the 20's were laundering money, Laundromats, cafes and nightclubs are perfect fronts for money laundering operations as well. Yes, no doubt Bitcoin is being used for nefarious purposes (look at Silk Road for a perfect example), but lets not lose our cool over this.
What we are starting to see is a coordinated effort by the US to remove the threat that is Bitcoin. While I have no conclusive proof that is the case, it's not rocket science that too many people benefit from the current monetary system to not want to see it become less relevant or have its dominance threatened in any way, way or form.
The powers that be didn't think much of it in the beginning, but Bitcoin is starting to gain a lot of traction, not to mention we are starting to see the currency stabilise.