Guest Post by Martin Armstrong
“Could governments seize bitcoin?” That is a common question, and much to the dismay of many, my opinion does not match the typical analysis. I have lost clients due to my honesty regarding crypto. I understand many firmly believe that Bitcoin will one day become the alternative to USD, but it is unwise to believe that it is a safe haven to park money. I will not sugar-coat the truth, as feelings must be removed from trading. The answer is an astounding YES – governments can seize Bitcoin and all other cryptocurrencies.
To begin, there is much speculation around the founder(s) — Satoshi Nakamoto – who created bitcoin (BTC) on June 3, 2009. The mystery person or group (or government agency) has been MIA since 2011. Yet 1 million bitcoins remain in their original account, untouched. His wallet is estimated to be up to $73 billion, and if this is indeed an individual, he or she is one of the top 15 richest people in the world. They have never moved a fraction of a BTC from their account. So, one wallet contains 5% of all mined bitcoin. Will this person or entity perpetually hold?
Only 2.3% of bitcoin owners own a full bitcoin, while 74% own less than 0.01 BTC. Bitcoin was initially a way to remain under the government’s radar, with people using cash to fund their anonymous accounts. The majority no longer use this method and favor platforms that are required by governments to collect and verify all user data.
Bitcoin’s price is akin to the problem that existed when the bubble burst in 1966 with mutual funds because they were listed back then. The value of can change at a volatility rate of 10x that of the dollar, making it a highly dangerous instrument as a store of wealth. It is solely a trading vehicle until they weigh it and the value is changed.
In 1966, investors bid the mutual funds up beyond net asset value so during the crash, people lost everything when they thought it was a secure investment. The net underlying assets may have dropped 20%, but they paid 20% over the net asset value and then sold at 50% of the net asset value. Many mutual funds crashed 70-90% whereas the Dow drop was 26.5%. Ever since, mutual funds have no longer been allowed to be listed. You go in and out at net asset value. Bitcoin must change its structure, or it will never become a valid currency with a stable store of value, which is supposed to be the whole point. It is just an asset class of high volatility.
Countries with strong currencies do not want bitcoin in existence. There are numerous ongoing efforts to regulate all cryptocurrencies, as politicians claim people are using it to either bypass taxes or commit crimes. Governments have reached the end of their rope and are actively on the hunt for additional taxes. They will default on all their debts, and the new monetary system they are planning will give them total control.
Governments in Europe and the Middle East prohibited my company from selling their clients REPORTS on bitcoin. We spoke with the regulators and explained we were merely selling a report and not currency, but they threw it all in the same bin. The same exact thing happens when we ship ancient coins as governments consider them currency despite them not being in circulation for numerous lifetimes.
Those who call Bitcoin “digital gold” are onto something, as governments have seized gold in recent history. Herbert Hoover admitted in his “Memoirs” that the investigation that led to the creation of the SEC was on the back of a phone call where he was told it was a conspiracy against his administration to create the stock market crash.
Governments will impose capital controls as they always do. That will mean that they will have no intention of allowing people to buy and sell cryptocurrencies. They will most likely do that as well when it comes to gold and silver. A black market in precious metals may exist with a supply that cannot be increased. They might even seize gold mines.
Governments are allowing cryptos like Bitcoin to exist because they can trace the transactions far better than paper currency. Bitcoin is a trading vehicle and nothing more. Just follow Socrates. That gives at least an unbiased viewpoint. What goes up comes down, and what goes down eventually goes up. That is just the law of the market.
Every major central bank has said they plan to move to CBDC. The entire purpose of the CBDC is to impose COMPLETE capital controls. So, how will you buy and sell anything that they deem to be a threat to their totalitarian world?
It is my sincere desire to provide readers of this site with the best unbiased information available, and a forum where it can be discussed openly, as our Founders intended. But it is not easy nor inexpensive to do so, especially when those who wish to prevent us from making the truth known, attack us without mercy on all fronts on a daily basis. So each time you visit the site, I would ask that you consider the value that you receive and have received from The Burning Platform and the community of which you are a vital part. I can't do it all alone, and I need your help and support to keep it alive. Please consider contributing an amount commensurate to the value that you receive from this site and community, or even by becoming a sustaining supporter through periodic contributions. [Burning Platform LLC - PO Box 1520 Kulpsville, PA 19443] or Paypal
-----------------------------------------------------
To donate via Stripe, click here.
-----------------------------------------------------
Use promo code ILMF2, and save up to 66% on all MyPillow purchases. (The Burning Platform benefits when you use this promo code.)
Seems like a State sales tax on buyers and/or a capital gains tax on sellers would kill BTC in the US. Either could be imposed with regulation changes. Estimate those to be 6% and 30%.
If the electrical grid goes down all digital transactions will cease. The only thing left will be bartering or hard currency. I opt for lead being the major hard currency.
Ditto for toilet paper,rice,and beans.Government,or your neighbors will seize your shyte if times get tough enough. Have some lead to defend your stash. Better yet,keep your damn mouth shut about your preps.
Only 57 seconds…wait for the last 5 seconds…just saying…
WE’RE NOT ONLY IN THE FOURTH TURNING, WE ARE ALSO IN THE QUICKENING
Cryptos = Finite supply of nothing
infinite suppy of different cryptos LOL
What would the dollar be worth if it were listed on the stock market (USD)? Also, what does one use to buy Bitcoin (BTC)?
Nobody ever answers these questions.
I notice I’ve never seen a sign advertising “cash your Bitcoins here”. What’s up with that? I never get on or in anything until and unless I’m sure how to get out or off.
Scru- I agree with you but that doesn’t answer my question. Let’s list the dollar then hype (USD) as the ULTIMATE safe haven to secure your wealth. After 6 months, where would the charts be on (USD)
Isn’t BTC just a proxy for USD being held out of circulation for safety? Really, does anyone here know anyone that made a killing on BTC? ( I mean personally, not someone you read about)
Bitcoin, like the U.S. dollar is fiat…every other Jewish Central Bank currency in the world isn’t money either. Only gold and silver are money.
100% agree, Anon. My point is you buy into BTC (yes, just a fiat non-currency) so you have trade the label USD for BTC…… A rose by any other name. In the end all that has happened is a shit ton of USD’s were sidelined in the name of safety, which is not really safe.
Would have been safer in gold but where would the price of gold be after that much USD exchange took place in lieu of buying Bitcoin?
I don’t, but I don’t know anyone who bought AOL way back in the day, same thing for Microsoft, Apple and list of other companies. Other than people who I have seen news stories on.
And wouldn’t you consider people who buy Land or Metals using them as proxies to hold wealth out of circulation ?
The point is, Bitcoin is a smoke and mirrors illusion bought with USD’s. It is no safer than USD’s held in any other market instrument and could vaporize as easily as anything else in the market. USD’s are far more useful as they are easily used for transactions as a currency.
In other words, BTC is an illusion and TPTB have successfully gotten millions of people to park USD’s in the illusion sidelining a ton of money that would otherwise be in circulation. Bottom line is there is no safety there and it limits the use of otherwise easily used currency. Brilliant.
They are wizards I tell ya, wizards. I love to watch them work, and I will feel sorry for those who feel safe and are not.
BL,
“Would have been safer in gold but where would the price of gold be after that much USD exchange took place in lieu of buying Bitcoin”?
Yep!
It is one of the major distractions to help keep Gold and Silver contained.
Mark not only that, but the magick joos at the Fed have come up with more creative ways to hedge inflation by redirecting and vaporizing USD’s than I EVER gave them credit for creating. In other words, sidelining a shit ton of USD’s in ways like Bitcoin keeps a gallon of milk from costing Joe Average $20-$30, $18 for a dozen eggs.
Let’s hope the wizards can keep levitating this flaming turd a lot longer or we are screwed.
BL,
I have said this before…I never, ever, ever thought TLPTB (L=Luciferian) could have held this Everything Bubble, Ponzi Scam, fraud, massive deception together this long.
The 57 second link ‘The 4th Turning and The Quickening’ above says it all as far as the pace…not only are they out of road…but the can is a block of cement, and their fiat leg is weakening, withered, and heading toward worthlessness.
1. The Great Culling?
2. The Great Reset?
3. The Great Taking?
4. The Great Awakening?
5. The Great Pushback?
6. The Greatest Story Ever Told Part 2?
All six? (I’m up for 5 & 6).
TICK TOCK!
Plus, there is no economic (cultural or political as well) solution to the SPIRITUAL crisis that has engulfed the world.
God didn’t show up until the three believers were in the fire, or until Danial was in the Den, or until the sea had to parted…etc. etc. etc…
I don’t pretend to know His timing…but like the dog said when they cut his tail off… “It won’t be long now”.
I bought a stock that split 5 times and I held it for 3 of those splits…took the profit and put much of it to get out of debt and the rest into Gold and more Silver in 99.
Most everyone thought I was a fool…I was laughed at for cashing out at 49…turned out to be one of the best moves I ever made.
Two in my tribe are clinging onto 401ks (they are in their 50’s). I fear they will get their 401k’s TAKEN soon…and it won’t be GREAT for them.
I have never, ever, regretted taking profit…and always made sure it went into hard assets.
The Intelligence community created it…they can track and seize it.
.
?
Sorry about the above ILuvCO2, forgot to switch back after the sauna thread – sent you some more info.
Plus the vid link to the Watchdog USA Greg Hunter interview won’t post…but her comments are below for any interested:
BUILDING A BITOIN PRISON – Catherine Austin Fitts
By Greg Hunter On February 20, 2021 In Political Analysis 418 Comments
Former Assistant Secretary of Housing and investment advisor Catherine Austin Fitts says you have to be careful and fully understand Bitcoin. Fitts explains, “We do know they want to go to an all-digital system with central bank cryptos. The easiest way to build the prison is to get freedom lovers everywhere to build the prison for you. To me, Bitcoin has always been the prototype on the way to building the all-digital crypto system that they would love to put into place. You have $400 trillion in fiat (currency) and it needs a place to go. If you are trying to buy up all the gold, silver and farmland, the last thing you need is competition from retail. They want to shift them into crypto and get them to build the crypto train tracks. In a funny kind of way, it’s brilliant.
There is talk by big banks that Bitcoin could go to $300,000 per unit by the end of the year. Fitts thinks, “This is absolutely possible. This is pure politics. This has nothing to do with economics. How much will the central bankers, who can print as much money as they want, spend to get you into this platform? Your guess is as good as mine. The sky’s the limit as to how much they can spend.
Remember, once they decide to bring out the central bank currencies, and they have steadily been regulating the crypto currencies, Bitcoin and everything else, so the day they decide to take this to zero, they can do it. If you are going to invest into cryptos and build our prison for us, what you need to know is this thing could go to $300,000, and it can also go to zero. This is a highly speculative market, and you need to approach it accordingly.”
Fitts warns of a dark future if the central bankers get everything they want. Fitts says, “When they decide to shut down our bank accounts and say you all get on crypto, universal basic income and take that injection or you can’t transact on the financial system, this is instituting a totalitarian system through the financial system. . . . When they shut that trap door, what you need to think about is where are you going to buy food?”
In closing, Fitts says, “We are in Never, Never Land. We have two groups in our society: One group that can print money, and the other who can earn money. What we saw last year is the people who could print money declared war on the people who earn money. They basically said we are going to shut down your businesses, and we are going to suck up and take your market share or buy you out with money we print out of thin air. . . . We have no pandemic. What this is is an economic war.”
Ah, ok, thanks. What was the title of that posted article that it is under?
Even if Bitcoin is “secure”, your access to it is not. I’ll never own any computer game money.
Just digging around if you are interested:
MEET THE FOUNDER OF BITCOIN Adam Back aka Satoshi Nakamoto!
September 23, 2021
BITCOIN ITS A TRAP!
With the release of what seems to be the most compelling proof of Satoshi Nakamoto’s identity, some questions arise regarding bitcoin’s development and what the future might bring.
https://satoshihunter1.blogspot.com/2021/09/meet-founder-of-bitcoin-adam-back-aka.html?m=1
I’m I a Bitcoin guy?
When people ask me about bitcoin, I use a light switch to explain it.
You win the Internet for today, Charlie. Grrreat analogy but most still won’t get it.
Yesterday evening there was a brief 90 minute power outage. Auntie’s cash was still functioning. Trying to use Crypto without power, a computer or internet access one is screwed.
Either a super-duper quantum computing program will, sometime soon, break the encryption or the grid goes brownouts or worse.
Then there are the Mt Gox and Scam Bankster Fraud type Crypto features.
People will believe though. It’s called Blind Faith:
You can take $1 billion worth of bitcoin across borders and governments can’t stop you from doing it. But then you get to your destination and you can’t convert it to the local currency. So you really just transported nothing.
It’ll be easy to buy and sell that stuff when they introduce the Mark. No problemo.
Another reason not to own Bitcoin is because the only secure way to hold your BTC is in your own wallet, on your own computer, not in an exchange like CoinBase. Hold ing your own wallet, means you need a copy of the entire blockchain on your computer wallet. The blockchain contains other information than just transfers of BTC. Neferious individuals have inserted Kiddie Porn onto the blockchain. So… now any government can throw you in jail for possession of KP.