Guess Who Hates Bitcoin? (Picture)

The rise of Bitcoin is relevant because unlike banker-created currencies, the number of Bitcoins in circulation will always be finite (20 million). Its not like Federal Reserve notes, which can be printed as per the needs of The Powers That Be (similar to the way Ben Bernanke adjusts the speed of his treadmill). This makes the Bitcoin inflation-proof. Of course, the Bitcoin can be subjected to shock and awe by suddenly releasing Bitcoins which were hoarded for years, but even such effects are temporary. As another medium of monetary exchange, Bitcoin logs all transactions to a register, which is highly decentralised, and operates through a peer to peer network, making it very difficult to kill (They couldn’t kill illegal file sharing networks, so good luck with Bitcoin). The Powers That Be might have to kill the Internet to kill Bitcoin, which they won’t because many of their commercial and surveillance activities are now dependent on the internet. While Bitcoin does log all transactions to a register, it does aid privacy by not obligating the bearers of Bitcoins to authenticate themselves (as in the case of plastic money). And The Powers That Be are hell bent on destroying economies where people can transact freely, in the absence of predatory taxation authorities and the monetary perverts known as the banking industry, who always watch where capital is moving.

The writing is on the wall. The Powers That Be Hate the Bitcoin. But if in case that is not clear, here are some instances which indicate their dislike of the Bitcoin.

Apple Hates the Bitcoin

Apple has removed at least two Bitcoin-based apps from its App store. In other words, if you are using an iPhone, you cannot use it to transact using Bitcoins. Why would Apple do this, given the rising user base of Bitcoin? Apple has also been in the news for blocking drone strike tracking apps from its App Store. On the other hand, Apple builds in enhanced tracking features into its iPhone. To quote

In April 2011, iPhone and iPad users were surprised to discover that, not only was their device keeping track of where they’d been, it also was storing very detailed location information in a plain-text file on the phone.  The data was derived by the cell towers and Wi-Fi hotspots the devices encountered, and was added anonymously to a crowdsourced database. Apple later said the devices were keeping more information than intended due to a bug, and issued a patch that reduced the amount of data. But, because it was used to improve and speed up location services, the practice continued.

Apple has also denied an NSA backdoor, although it is strange how the NSA could be working on a closed source, internally developed proprietary software like the iOS. When Edward Snowden began leaking documents hinting at Apple’s cooperation with the NSA, Apple suddenly patched up a “Cybersecurity Flaw” which until then, had gone unnoticed by them.

Do we see a pattern here?

The Chinese Government Hates the Bitcoin

Bitcoin was all set for a golden future in the Far East, where anonymity in financial transactions is treasured, an alternatives to the highly inflated RMB are welcomed. But the People’s Bank of China shut down the ability of China’s first Bitcoin trading company to trade Bitcoins for Chinese RMB.

In other words, restrictive, totalitarian police states hate the Bitcoin.

Russia Hates the Bitcoin

The Russian government has issued a statement saying that Bitcoins are to be avoided and Bitcoin transactions will be treated as suspicious. No comment needed. Oh, but there’s this: MOREHERE