My take on Bitcoin.
Launched in mysterious circumstances by some supposedly lone geek 'Satoshi Nakamoto' as a free market libertarian solution to central banks inflating the money supply to death. 'Digital Gold', which would be run on a p2p system, consisting of all the wallets running the Blockchain, making it 'unsinkable' much the same way as piratebay has proven unsinkable. A real revolution for the little man. Giving power to the people, and cutting the evil corrupt banksters out of the transaction process.
10 years down the line, it should now be clear to anyone with half a functioning brain, that this wasn't some unknown renegade libertarian launching some new fangled technology that threatened the establishment monetary system. This was the establishment, pilot testing a new technology that they had many cryptographic experts, working for many years on developing. Slipping it out a 'libertarian' 'stick it to the man' back door, making sure it pumped, dumped, and then pumped and dumped again, but each time considerably greater than before, attracting increasing levels of mental and financial capital into the space, getting the free market to flesh out the technology, for a planned global digital currency/ledger system, which the globalist establishment will control.
It is not digital Gold. It is something that can be killed tomorrow, if certain powerful governments ordained it. China control 65% of the hash rate, and the US could cut ban any financial institution from transacting in it, much the same way as they impose sanctions on entire nation states whose regimes they don't like. And if Bitcoin really was such a big threat, they would have killed it off long before now, as they did with E-Gold in the early 2000s. Instead, despites Bitcoin's only real world uses being online black market transactions and money laundering, Bitcoin has been given an easy legislative ride, and the crypto space has flourished, resulting in what will become the most immense speculative bubble in human history.....but 'they' can pull the plug on it all anytime they want, and one day, they will.
So know what you are playing with and know the danger signs to look out for, as one of these pumps, will be the last. As soon as the central banks are ready to start imposing their own crypto currencies on their jurisdictions, based on greatly enhanced levels of Blockchain technology, the days of the current ocean of contenders, are numbered....but in the meantime, I expect the pattern of pump and dumps to continue, each one bigger than the last, with each one attracting an ever greater pool of capital to it....
....and whilst Joe Sixpack is piling his stimulus cheques and half his pension fund into crypto, the mega wealthy will be busy buying up things like Land, and Gold, because they know what is coming.
