More Dark Secrets of The Bitcoin

By Richlion

We have all read about the digital bitcoin that has been making a lot of news recently. Part of this news people have talked about the negative side of bitcoins. However, there is more to the negative bitcoin that has not been reported that should concern people.

Many people have been attracted to the bitcoins because it sounds like a way that patriots and ordinary people can fight back at big government and international bankers. The supporters of bitcoins make a good argument of how this new digital currency can break the control of international banks like the IMF and the World Bank.

One of their arguments is that the amount is controlled and that there will only be 21 million bitcoins “made”. This is in contrast to the unlimited amount of money that can be created via the printing press and computer entries.

While all of this sounds good, there are a couple of things I have found bad.

I asked myself, what is one of the primary things that a sound currency should have? One is the value should be the same.

Think of the 100s of millions of people who have saved money for their retirement only to find out it was eaten away by inflation. When their retirement comes, they find out that their money will only last, say, five years instead of 20 years.

The question I have to ask myself is, are their banksters behind this? A bitcoin currency would fit their agenda, but that would take another article.

If you have looked at the history of the bitcoin, you will see that it is far from being a stable currency. Back in July of 2011, bitcoins went from something like $14 to 5 cents in value. Now, imagine if this price fluxuation occurred when you retired and found out that your investment went to 5 cents, how would that make you feel?

Look at the roller-coaster ride of just the recent weeks. The bitcoin dropped 60% intraday, going to $100 from an all time high of $265 earlier. Then it rebounded to $200, finally settling to $125.  Think of your retirement, you go on holiday, can you really relax if your retirement fund has huge market swings such as this?

One day you see that you can live like a king, the next day you see yourself as a poor.

Yet, we are told by the biggest supports of bitcoins that it will be stable.

Are they crazy, or do they really think that they can fool people. Unfortunately, they are fooling millions of people.

One of the many reasons why people are sick and tired of their respective governments and banks is the loss of value of their money – they can’t count on the value being the same from one year to the next.

Sure, everyone likes it when their investment goes up in price, especially as much as we have seen bitcoins go up. However, it also drops by a huge amount, too.

How in the hell can markets operate with price gyrations as this? How can store owners know what to price their goods? How can they even be sure that they will make a profit, if they sell it for, say, 5 Euros, but when they buy from their supplier to restock, the price is now 10 Euros.

This is NOT a currency, even a digital one. But the promoters want you to believe bitcoins are a good alternative currency.

Bitcoin has evolved into nothing more than speculation with people hoping to make a fast buck. As history has proven, the only people who make money in scams, which this is, are those who are promoting it.

You simply can’t use bitcoin in the market without a steady price that both customer and shop owner can rely on. Therefore, it fails miserably as a form of money. This means bitcoin is NOT money. If you can’t use it in the marketplace, what in the hell is it good for?

The second danger

We are told that the bitcoin will be created until there are 21 million. Right now there are about 11 million in “existence”. A person who works at programing at a “bitcoin office” said that this will cause rarity with no more than 21 million created. He also said that everyone is free to create a bitcoin on their computer, through what he calls “mining.”

“Mining” we are told is that there is a very difficult algorithm that your computer has to do to create a bitcoin. It takes a huge amount of computing power, it will slow down your computer and the electricity cost will be more than the bitcoin is worth.

Keep this in mind – time, computer overheating, high electricity bill, perhaps a damaged computer.

We are also told by those who support bitcoin, that as more are created, it will be more and more difficult to create more coins as it approaches the “magical” 21 million.

With that knowledge, ask yourself this – who will go to all the trouble of creating these coins? It takes months now to make a coin. And in the near future, it will take years – literally – to “mine” one simple coin.

Once people see that they are getting nowhere with creating the bitcoins, they will abandon it, as thousands have already done.

However, we are told that the number of bitcoins are slowly increasing. If this is true, and I expect it is, two questions come to mind.

Who in the hell are creating bitcoins?

How are they creating bitcoins?

Speculate

So, let’s speculate a bit.

I believe that certain hidden people who are behind this Piozzi scam are creating it. They are also setting the value to it, and they will also know when to dump their bitcoins.

Certain individuals, or perhaps one person, has the backdoor key to this bitcoin creation whereby he and he alone can create a bitcoin fast and easily, without using any time or computer power to speak of.

This has to be the case, as no one else can do it with their laptops. The average person will need access to a super computer to do it.

How are people getting their bitcoins?

They have to sell something of value. So, if you are the person who can create a bitcoin on the fly, you are getting something of value in exchange for a few electrons.

As far as we know, there could be one individual who has millions of bitcoins. He gets them circulated, get millions to have trust in them. Get people to exchange things of value for his digital coins. He will let people speculate in them, and when the time and price is right, he’ll sell them.

Even the coins he has left over that he could not sell, will cost him nothing. After all, if he created it, he has not cost involved. It will not be like the people who had actually sold something of value to get his bitcoin.

Can you make money with bitcions?

Maybe you can make money with bitcoins, if you get in early and sell early. But as you know, most people get burned. The bitcoin is like the Holland Tulip Bubble back in the 17^th century. If you don’t know anything about this, look it up in Wikipedia. Then you’ll get an idea of the scam that bitcoin will turn out to be.

At least with tulips, it can make your garden look pretty for a season but for bitcoin, it’s just electrons sitting on your computer.

You have been warned.