Why BitCoin isn't all it's cracked up to be.

[InfleXion]

Some say BitCoin is great because it isn't centrally managed, it has a built in deflation algorithm to help ensure the price will continue to rise over time, and it provides global real-time commerce with no middle man fees. It looks to be the slayer of the scourge of fiat currency, and will free us from the hidden tax of inflation by removing the power from the money masters.

However, the big lie about BitCoin is that it's anonymous. The block chain keeps track of every single transaction, ever. If you have ever bought or sold BTC you are forever tracked in that block chain with your IP address. Any use of BTC can be queried at any time. It is the polar opposite of anonymity.

BitCoin is currently fulfilling the role of alternative currency instead of metals, and for this reason it has become very lucrative. People think it is freedom, but it is in fact slavery. It does not function without an Internet connection and electricity, both services that the powers have control over. The executive orders are already there, minus the signatures.

There would be no need to use debt slavery to control people if the option to require grid dependency for monetary transactions was viable. Once such dependency exists they can do anything they want, because without their services your wealth would be unavailable.

I am concerned that so many stackers are on the BitCoin bandwagon. I can understand that it has been profitable, and that it's a new and exciting market, but I don't think people understand the dangers involved and the slippery slope this is.

Is the price of freedom worth being rich? For myself, there is no price high enough. I would sooner be destitute than put on a set of chains and allow my will to be dictated to me. For all our sakes I hope I am not alone, and will be keeping my metals no matter how this plays out.

[Rodebaugh]

Couldn't agree more. Furthermore I might add that I prefer FRN over bitcoin. Universally accepted (no matter the country/situation you are in) and at least I can wipe my ass, or tender a fire with them in a pinch.

Bitcoin and all of it's cyber clone currencies are a joke; a fool and his money are soon parted.....and I will not be that fool.