dollar_backWell, adding urine to horseshit in a concert of demonizing the Bitcoin, one of the mainstream thiefs a.k.a the banksters a JPMorgan Chase’s “big shot” has been deployed to the battlefield by the Cabal order.

Jamie Dimon JPMorgan chief-criminal-executive has strongly accused Bitcoin, or effectively any other non-bank a.k.a “Private-blockchain” and non-government  crypto-currencies, are all  “fraud”. 

I assume that my readers are all well informed people. Thus I am not going to  explain in details what my readers would find abundance in you-tube about money-fraud,  but just emphatically remind people that modern banking system is itself a fraud. As a matter of fact, the federal reserve system with its exclusive fiat printing  is the mother of all monetary and financial fraud in all human history. This fraud and robbery system has enslaved people around the world and destroy billions of lives with wars and crises since its creation.

Whereas, the Bitcoin was born as a respond to that destructive system of fraud in the wake of “2008 financial crisis”, which was the result of government and banking corporation ‘s fraud. a true fascist work if you know Mussolini well enough.

Since its birth, Bitcoin has not caused any destruction to anyone, but on the contrary has helped many find employment, and particular gain financial freedom and successfully escape  from the brutal and unlawful oppression of governments and corporations Wikileaks Julian Assange, Edward Snowden are cases in point.

Bitcoin is not a fraud, but an existential threat to fraudulent banking system, and most importantly to the fraud of exclusive violent force of Government. Bitcoin has gradually been taking away the most  powerful destructive weapon  from Government and Bankster: the exclusive right to print money from thin air, to create money by imposing debt on people, and the total control of it.

That’s why the concerted assault on the Bitcoin started years ago and now  has intensified. They have failed and will fail.

Free or public crypto-currencies are here to stay as long as people’s freewill, people’s desire for liberty still exist. They have learn no lesson from the so-called “Prohibition”, marijuana. Well they did not read their fucking Bible and learn a hard lesson from their God, the Controlling Freak. At the very beginning of this stupid book of Genesis, the almighty silly cranky God ruled, governed, and tried to  control only two simple-mind human beings living very simple lives without technology, indulging things whatsoever.. However there was a fruit of knowledge in the middle of the garden, and God issued a ban, or say God made it illegal eating that  special fruit. You know all the rest of this damn silly story. The fucking God  failed, and kept failing miserably in his big controlling project  to this day as I am writing these blasphemous words!

Anyway, talk about the fluctuation of Bitcoin in term of fiat “value”. I did explain this sometimes ago somewhere in this site. I don’t want to repeat myself with obvious things, but only want to remind people that:

Since people- Bitcoin users- are still forced to use different fiat papers for transaction in many important areas, which are heavily regulated and controlled by governments,   the need for Bitcoin/fiat conversion is still in high demand. That’s where the exchange market exists!

And that Governments around the world, particularly the USA and its main vassal states, have the power to print out their fiat currencies at will to buy all of the Bitcoin available in the exchange market and flush Bitcoin back out at any point in time. In one word, it’s government sabotage is the main force that deliberately  causes the fluctuation of Bitcoin-fiat price- not the Bitcoin value. The value of Bitcoin is determined by the will of its users willing to use Bitcoin as their medium exchange in doing business among themselves.

The fact that Wikileaks successfully survive the financial assault concerted by the US-led governments and financial institutions, and the “news” that “Kim chi the Fatboy” has got away successfully from the dumbshit sanction of the West, have proved beyond any doubt that Bitcoin is the best universal currency, the most superior mean of exchange of all.  Bitcoin has given humankind, us back a large part of our liberty that has been totally lost to Government and corporations.

Bitcoin is not a fraud, but a mean of freedom, a common vehicle of people liberty, thus an existential threat to the statist system, the current fraud and destructive paradigm that favors crony capitalists and criminal such as Wall Street, Military Industrial complex  and kosher nostra criminals such as “the confefe clown in tweet of Jamerika”.

Bitcoin will survive. It is and will crush the fiat papers on its way, if people, you and me keep using it, circulating it as our mean of exchange with one another. All the deflationary fiats are failing and falling and  will be falling even if and despise the support of government brute force.

PQC

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Bitcoin a ‘fraud’ that will ‘blow up’ according to JPMorgan Chase boss

Updated

Bitcoin has had a more than five-fold increase in price since the start of the year.

Key points:

  • Bitcoin surged in value since start of the year, but has now dropped in value by more than 15 per cent
  • JPMorgan chief has labelled bitcoin a “fraud”, saying it will eventually “blow up”
  • British watchdog issued warning on initial coin offerings after Chinese government banned ICOs

It’s hit a record high price of just below $5,000 at the start of the month.

And it’s been the main driver of a boom in a value of all cryptocurrencies, which started the year valued at $17 billion and are now worth close to $180 billion.

So why has bitcoin lost more than 15 per cent of its value in the last 10 days?

There have been grim warnings from people in the know

Specifically from JPMorgan chief executive Jamie Dimon.

He told a New York investor conference that bitcoin was a “fraud” and will eventually “blow up“.

Mr Dimon said if any of his traders were found trading bitcoin he would “fire them in a second”, and that currency was “worse than tulips bulbs,” referring to a famous market bubble from the 1600s.

James Butterfill, head of research and investment strategy at ETF Securities in London said Mr Dimon’s comments could be the “tipping point” for bitcoin.

“He joins a long line of market commentators that have been critical of bitcoin and it potentially being in a bubble,” he said.

New rules in China and a warning from the UK didn’t help

First the Chinese government banned the issuance of new digital coins for fundraising purposes — a phenomenon known as initial coin offerings, or ICOs

Then on Monday the Wall Street Journal reported Chinese authorities were planning to ban domestic bitcoin exchanges.

An anonymous source told the Journal that the Chinese Government wants to shut down the cryptocurrency because of “too much disorder“.

Britain’s financial watchdog issued an official warning on ICOs the day after, raising fears of a wider crackdown.

“You should be conscious of the risks involved … and fully research the specific project if you are thinking about buying digital tokens,” the warning from the Financial Conduct Authority read.

“You should only invest in an ICO project if you are an experienced investor, confident in the quality of the ICO project itself (e.g. business plan, technology, people involved) and prepared to lose your entire stake,” .

So it bitcoin definitely doomed?

Not everyone is convinced the sky is falling in on bitcoin.

ThinkMarkets analyst Naeem Aslam said the cryptocurrency had been on a remarkable run.

“This is not the first time that Jamie Dimon has spoken against the currency — the last time he had a similar go on the currency was in November 2015,” he said.

“Most importantly, given that the CEO does not think that shorting this trade would yield a more favourable outcome shows that the cryptocurrency has a lot more room to run.”

Reuters/ABC

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