Let me start off by saying that NOTHING written below is financial advice. I merely have a LOT of questions about Bitcoin and/or crypto currencies, and I’m looking for answers.
It seems that everything which is fake and phoney is attracted to Trump like flies are attracted to shit. I already wrote a little bit (here, here and here) about how I think that Trump is just another neocon puppet regarding his ‘peace’ plan for Ukraine, his extensive connections to the Swamp/Establishment and how he is draining filling the Swamp, but let’s now talk a little bit about Bitcoin.
Let me spoil the fun by saying that I am not a Bitcoin fanboy, simply because so far nobody has been able to convincingly explain me how it exactly works or what exactly is so great about it. Furthermore, most judging from my (former) circle of friends colleagues, where the common denominator is that they are quite gullible souls who were also easily fooled by the ‘pandemic,’ and the ‘science’ regarding masks and vaccines, in addition to being people who generally don’t think too deeply about things and lazily trust the mainstream narrative which is shoved down their brains. It’s rather the opposite: some friends and colleagues seem to justify their ‘love’ for Bitcoin and other crypto currencies with a superficial veneer of ‘libertarianism’ which barely disguises their desire to ‘hit the jackpot’ and ‘get rich quickly.’
When I ask these friends and colleagues to convince me of Bitcoin and/or explain me what exactly I’m missing, they usually react in the following cult-like two manners;
first they spit out some rehearsed platitudes that they read on a website somewhere about “fiat money,” “the technology,” and how “Bitcoin will change everything or fix the world’s financial problems” without going into specifics. When I then push them harder on the specifics (see the scenario titled “The Utopian Libertarian Bitcoin World…” below) and challenge them with a real world example, they react in the second way,
they become defensive [“you don’t (want to) understand”] or they simply ghost me regarding this topic and don’t reply to long voice mails or text messages. Again, zero specifics are addresses in their criticism. To me, passionately debating about something makes us all smarter, but it seems that most people (regardless of their political, religious, financial, moral or other beliefs) have been conditioned in the Snowflake mentality of avoiding all possible conflicts/discussions/disagreements, and instead retreating into their little safe space/echo chamber.
To me there are a number of reasons to be very skeptical of Bitcoin, the main ones being;
this whole thing smells incredibly fake and seems like a huge con and PsyOp.
the sheer endless list of mainstream/mainstream ‘alternative’ media outlets and dubious persons that pump, support and endorse Bitcoin. When major financial news outlets like CNBC, Bloomberg, ZeroHedge, and high profile charlatans and liars like Donald Trump, Elon Musk, Michael Saylor, and Howard Lutnick (who at the time of writing is the presumed Trump nominee for US Secretary of Commerce) start promoting Bitcoin, I get even more suspicious. Even a good and critical thinking guy like
seems to have been ‘converted’ by Lawrence Lepard.
The PsyOp.
First of all, what exactly is a PsyOp? PsyOp stands for “Psychological Operation” and is usually initiated by a government institution (like an intelligence agency) in order to change the behaviour of the target audience. They want the audience to either think, believe in, or be skeptical of something or someone, and is usually part of a bigger plan in order to psychologically demoralise the target audience.
So how does Bitcoin fit into the Western ideological Utopia that the World Economic Forum, NATO, the European Union, the Club of Rome, the Bildenberg Group BlackRock or any large Western institution want to impose upon the world?
First of all there is the acute awareness among Globalist elites that the current Western financial system is slowly reaching the end of its usefulness. The current system is a system based upon the US dollar as the world’s reserve currency and it relies on endless (over)consumption financed by exponentially growing debt, and as with all exponential Ponzi schemes, the perpetrators know that this can not go on forever. These same Globalist elites also know that they do not want to return to a gold standard because the main disadvantage of gold is that it provides anonymity.
So whichever system will end up replacing the current system, they will have to make it look like gold, while in fact it’s a Trojan Horse.
Similar to how the Covid ‘pandemic’ was very conveniently preceded by Event 201 in September 2019 a few months before the actual ‘outbreak’ of the ‘pandemic,’ the Bitcoin PsyOp started, very conveniently in August 2008, a few months before the outbreak of the GFC, the Great Financial Crisis which was triggered by the bursting of a giant housing and credit bubble in the US.
On August 18th 2008 the domain bitcoin.org was registered and a few months later, and on October 31st 2008 a few weeks after the dramatic bankruptcy of Lehman Brothers and the sub sequential crash of the global stock markets, a White Paper was published on bitcoin.org by someone who called himself/herself(?) Satoshi Nakamoto.
Who this Satoshi Nakamoto actually is remains unknown to this very day, another major red flag that the fanboys conveniently ignore, but then, most Bitcoin fanboys were still struggling with acne, hormones and puberty when the GFC unfolded. They simply brush this aside with “who cares who invented it, it’s here and it will revolutionise everything?!” That’s some really good ‘scientific’ thinking…
So now let’s look at how Bitcoin is pumped to appear as gold;
Bitcoin is almost consistently portrayed as a golden coin with a ₿ stamped on it.
Bitcoins aren’t “created” or “calculated,” (which would be a much more accurate description), no, they are “mined” by “miners.” Call me old-fashioned, but when I think of a “mine” or a “miner,” the first things that jump to my mind is a dark hole in the ground or some yellow painted heavy duty machinery with “Caterpillar” written on it, not rows of graphics cards.
the proponents endless go on about how ‘Bitcoin is digital gold.’ Why? Because it’s limited of course, which is of course reason for Bitcoin’s “value.”
And more PsyOps examples;
Similar to how the Covid vaccines were pumped by the government as “trust the science,” Bitcoin is pumped as “trust the technology.” People constantly talk about “the technology” but most appear to be technological noobs and are just seem to be parroting the same talking points over and over.
Similar to during the ‘pandemic,’ Bitcoin uses QR codes which are being promoted as representing ‘value’ and ‘freedom’
if Bitcoin is so “revolutionary” and such a ‘threat to the system,’ then why are financial mainstream media outlets like CNBC, Bloomberg, or Yahoo constantly talking about Bitcoin? Somehow I don’t remember them talking about our natural immune system or Ivermectin during the ‘pandemic.’
We all know how uncertain and shoddy the ‘science’ behind Covid and the Covid vaccines was (remember the media lies about “100% efficacy?”) yet we’re supposed to blindly trust the “trust the technology” narrative from the Bitcoin Pumpers? When looking at a real life example (see below) of a Utopian Bitcoin World would actually work, I see a lot of potential for serious issues. Yet when I ask my Bitcoin friends and colleagues to explain me where I’m wrong (seriously, I’m open to suggestions), I receive the second answer I listed above: crickets…silence…ghosting…
The Utopian Libertarian Bitcoin World of financial privacy, the BTC cycle.
Assumption: we live in a world where Bitcoin is the sole form of money and the only way people can make financial transactions to pay for good and services.
so let’s start the financial cycle with you receiving your salary on a BTC wallet address ending in “123abc,” so your employer already knows that this BTC address is linked to your person/identity
as per Bitcoin ‘philosophy,’ every salary payment is permanently recorded on a decentralised ledger. Bitcoin fanboys think that this is a great idea…
from your BTC address ending in “123abc,” on which you receive your salary, you can of course send BTC to different wallets, nevertheless all those transactions are again permanently recorded
let’s assume that (similar to the way most people have only 1 bank account) you pay for other goods and services from the same BTC address ending in “123abc on which you also receive your salary
many of those goods and services are again linked to your person/identity, for example health insurance, mortgage or car payments, utility payments, payment of taxes and/or fine. Opening another BTC wallet, transferring money (from your ‘known’ salary BTC wallet address ending in “123abc!”) in order to pay for good and services linked to your identity won’t make any difference. Once stuck into this system, it’s impossible to break this endless cycle, ‘thanks’ to the permanent and decentralised ledger
so more and more government and private corporations will get to ‘know’ that the BTC address ending in “123abc” belongs to you, and of course (as is already the case with internet sites and social media selling your data!) this data can be sold to 3rd parties
now let’s assume that I would want to spend some of my head earned Bitcoin on something that isn’t socially accepted, for example drugs, gambling, or prostitution. For example, let’s say you wanted to pay a sex worker (in some countries of the EU prostitution is a legal profession) for her libertarian services, we’re all adults, right, and Bitcoin provides perfect anonymity, right? The same logics goes for drugs, illegal gambling or any other ‘vice’ you can think of, but I’m merely using the sex worker case as an example here.
now of course you do not want to let the whole world (permanent and decentralised ledger, remember?) to know that you paid a sex worker for her services, so what to do?
setting up another ‘anonymous’ BTC wallet is useless, see point #6
the sex worker in question will have the same problem: her wallet(s) are also traceable back to her identity because she will also need to pay for certain goods and services (insurance, rent, mortgage etc) that are attached to her identity
even if it’s not known that the sex worker’s BTC wallet is attached to her profession (although she will probably will also need to file a tax return and will need to confess her profession to the tax authorities and the source of her income, therefore she’ll need to reveal her BTC ‘salary’/income wallet address so that every transaction can be appropriately taxed), but let’s assume that you don’t care. You’re single and you don’t care, so you decide to trust the prostitute when she tells you ‘don’t worry honey, nobody knows what I do for a living,’ and you trust that your BTC spent on her will remain anonymous to the rest of the world.
despite the above ‘guarantee’ in point #11, your transaction with this girl will be PERMANENTLY recorded on a DECENTRALISED ledger, so if for some reason the profession of this girl is revealed or perhaps made illegal by adopting a new law, every single transaction and interaction between you and her can be traced back…forever!
now how’s that for ‘anonymity’ and ‘libertarianism?’ 🤡 How is this Bitcoin system any better than going to an ATM, taking out a few hundred Euros, and paying her directly in cash?
I know what you’ll say next: “just use a CoinJoin or some Whirlpool/Mixing program” that will digitally defuse the source and destination of the Bitcoins/Satoshis. Well, first of all: similar to P2P (person to person) encryption for WhatsApp or Telegram messages, what can be digitally mixed up (encrypted), will also need to be digitally reassembled again. Are you (not a computer programming expert) going to look, line for line, through the code of these mixing/whirlpool services to see if they don’t share their data with anybody else like the government or a criminal enterprise looking to blackmail you? Alternatively, the government can simply coerce the makers (as already happened with the CEO of Samourai Mixing Service) of these programs to get a backdoor into their programs, and the whole issue of “Bitcoin is privacy”) is completely dead in the water…
the same goes for the Lightning Wallet: simply removing the app from the Apple App Store or Google Play Store, or forcing crypto exchanges to hand over the data in order to reveal your identity is enough. Remember when the free speech social media app Parler threatened the ‘monopoly on Truth’ by Facebook, Twitter and YouTube/Google? A concerted effort was quickly launched and its servers blocked and the app simply removed from Play Store and the App Store.
In my opinion Bitcoin is an inherently totalitarian wolf, disguised as a libertarian sheep for dumb suckers who can not think a few steps ahead.
I’m not per se against BTC or any money, but please stop pretending that this is “anonymous” or “private” or “freedom” or that this will the dawn of a libertarian financial system.
Bitcoin offers a perfect way to permanently and irremovably (decentralised!) record ALL transactions, which in time, can and will be traced back to you as inevitably more and more BTC addresses will be linked to a person’s identity because they will need to pay bills that are associated with their natural personal identity.
p.s. as an experiment, I have included a BTC wallet address below all my articles, so feel free to send me a donation! 🤡 😘 skillednation31@walletofsatoshi.com
Let me discuss another example of how Bitcoin is NOT revolutionary.
As you can read in my bio, I live partly in the EU and partly in Russia because I have a relationship in Russia. Due to the heavy economic sanctions that the Western world has imposed against Russia, making payments between the EU and Russia is extremely difficult. One would think that this would be the Black Swan event for Bitcoin and that this would be an enormous boost to ‘free’ the world from the clutches of the Central Banks right? Let me give you a real life update: nobody in Russia accepts Bitcoin (or any other crypto currency): not the banks, not the insurance companies, not the utility companies, not the landlords, not the hotels, not the restaurants, not the bars…absolutely NOBODY! 😃 Of course the Bitcoin pumpers, peaching to an audience of naive and ignorant Americans and Europeans who will most probably never visit Russia, sure loves to create a PsyOp about how ‘Russia is fighting the Globalists with Bitcoin’ (🤣) but again, from a practical point of view (I’m in Russia as I type this) nothing could be further from the truth.
By the way, the Russians know that most ‘coins’ are monitored by Western intelligence agencies, so they indirectly confirm my suspicions above. Here is an interview with Russia’s Deputy Finance Minister Aleksey Moiseev on rt.com from May 1st 2023, in which (emphasis mine) he states:
Digital currencies have a set of benefits such as no correspondent accounts, instant transactions and practically no compliance procedures, and these benefits should be taken advantage of, for example, in foreign trade, the deputy minister suggested.
Cryptocurrencies cannot be used to circumvent sanctions, however, as transactions carried out in the most popular coins are monitored by financial intelligence in all countries, he added.
Furthermore, again, emphasis mine:
There is limited regulation of cryptocurrencies in Russia, although there is a ban on payments for goods and services.
That was in May 2023, and today it’s November 2024 and next to nothing has changed despite all the false promises and hopium spread around by the Bitcoin fanboys… 😉
(If you are lucky enough to live in the ‘free’ West and can not access rt.com because you don’t have a VPN, then I provided screenshots below. Just clock on the footnote: 1)
To me, Bitcoin has Western intelligence agencies and PsyOp written all over if, so an often heard counter-argument is that ‘intelligence agencies could never be behind Bitcoin because they love/need cash to bribe people and to finance illegal operations.’ These people obviously miss the implications of a cashless society which revolves around privileges, not cash.
As we (again!) saw during the ‘pandemic,’ in a totalitarian cashless society, privileges can simply be removed to punish bad behaviour and reinstated when people comply. These privileges can even be expanded for the elites, as we saw during Covid when politcians were openly flaunting the very rules they imposed on ‘their’ citizens, going to restaurants, having a wedding reception without any social distancing.
The future totalitarianism is all about privileges, remember the scene in The Matrix of that guy getting bribed with a steak?
In a cashless world, no cash will be needed for bribes. People will be bribed/rewarded with the removal, reinstitution, or expansion of privileges!
You want that juicy steak, that nice vacation, that nicer apartment, or that hot sex worker? You better be a good boy/girl, and then the Deep State will reward you by changing your score in their centralised Social Credit System, no amount of decentralised Bitcoin will be able to change that! Quite to the contrary, the permanent and decentralised nature of Bitcoin is the very foundation of and source of inputs for a rigid Social Credit System because nobody (not even the totalitarian government!) can erase that transaction with a sex worker or a drug dealer…assuring 100% compliance. 😉
Unlike a non-permanent and centralised ledger (remember how Ferris Bueller changed his sick days in the school database? see embedded video below), in a permanent and decentralised system NO WRONGDOING can be forgiven! It will be a PERMANENT record!
You can be the richest person on earth measured in Bitcoin and you can have 1 million or 10 million Bitcoins in your wallet, but the government can track every Satoshi and if the government doesn’t like the way you spend your Bitcoins and Satoshis, then your purchases will simply be confiscated and/or you will be put in prison.
Please tell me where I’m wrong, but don’t give me the standard “you don’t understand” or the esoteric (= hopium) “well…this problem still needs to be solved” bullshit! It’s the very nature of Bitcoin (a permanent decentralised ledger) that is inherently EVIL!
The Shady Supporters of Bitcoin.
Where the first Trump 1.0 Regime Administration seemed to be a warmup session with warmongers like John Bolton and vaccine pushers like Antony Fauci, the Trump 2.0 cabinet is shaping up to be the Real Deal; warmongers, Zionists, and neocons (“Zeocons”) for as far as the eye can see, and Deep State contractors, charlatans and Bitcoin fanboys such as Elon Musk, Vivek Ramaswamy, and Howard Lutnick whispering into Donny’s ear.
Vivek Ramaswamy has a ‘coloured’ history of pumping shares in pharmaceutical companies, Elon Musk has a history of straight out lying about Full Self Driving or taking his company public in his infamous “Am considering taking Tesla private at $420. Funding secured” tweet. Then there is Howard Lutnick who is chairman and CEO of Cantor Fitzgerald, a huge Wall Street firm that specialises in trading/selling fixed income (= bonds), and is one of the only 24 US financial institutions (see at 8m05s in the video embedded below) that are “Prime Dealers” and are authorised to buy US bonds directly from the US government.
Also see a brief description starting at 12m55s of Howard Lutnick’s dealings also will the Clinton campaign on
, if this is not the Swamp then I don’t know what is….but somehow we are being told 24 hours per day by the MainStream Media/MSM and Mainstream ‘Alternative’ Media/MAM that they are ‘a major threat’ to The Establishment and will spend the next 4 years ‘draining’ the Swamp and fighting government waste. Sure… 🤡Probably because I am not a Bitcoin enthusiast, I had never heard of Howard Lutnick before, but the following video made the hairs in the back of my neck stand up while the “conman” and “fraudster” and “Enron” alarm bells were ringing loudly in my head:
Especially the part at 08m48s about how he is shouting that “so I can tell you with absolute certainty, absolute certainty, that Tether, USDT has every Penny,” gave me a huge ‘second hand car salesman’ and “Bear Stearns is fine” from Jim Cramer vibe. Sure thing Howard, Scout’s honour and all that… 🙄
With his dramatic shouting he seemed almost desperate to instil CONfidence in the stable coin Tether, which according to quite a few crypto skeptics, is a very murky and opaque financial instrument, and just more digital air which is used to inflate the Bitcoin price.
Tether is, as already mentioned, a stable coin and is according to their own statement backed 1:1 by fiat currency.
in other words, if you or I buy 1 Tether (abbreviated USDT), then Tether (which is owned by iFinex which in turn is registered in the tax haven the British Virgin Islands) then buys 1 dollar in US government bonds, or the equivalent in other fiat currencies, precious metals or Bitcoin as can be seen on page 4 of their quarterly statement issued on September 30th 2024.
As of recent (November 8th 2024), Tether has also entered the commodity market, and has financed a $45 million crude oil trade.
Please pardon my childish naiveté, but is Tether simply replacing the US dollar as world reserve currency by placing an (artificial?) bid under US Treasuries, US Bonds, ‘friendly’2 fiat currencies, and commodities?
So let me get this straight: people spend worthless fiat currency (Dollars, Euros, Yen etc.) on a worthless digital token (Tether), and then Tether buys US government debt, more fiat currency, Bitcoin, and commodities with the proceeds which is then called the Tether Reserve? Or what am I missing here?
Is Tether (similar to how Bitcoin could potentially work in a world where Bitcoin is the sole currency as I described above) a digitised/tokenised version of the US dollar, US government bonds/treasuries, commodities, and fiat currencies, that can be frozen, revoked, and tracked?
So the combination of both Bitcoin, Tether and the people who support BTC and USDT that Trump is surrounding himself with, seems extremely Swampy and totalitarian in nature, yet most people continue to pretend that Trump is ‘one of the good guys’ and that he will drain the swamp.
Just in: Trump has nominated Scott Bessent for Secretary of Treasury. Bessent is yet another Swamp billionaire who has worked with George Soros in the past, and, similar to Trump 1.0 Treasury pick Steve Mnuchin, comes straight from the Wall Street banking Swamp.
Looks like more “#winning” for Team MAGA… 🙄🤡
For a number of years, people have been talking about the Everything Bubble when referring to the rising prices of shares on stock exchanges, government bonds, housing, commodity prices and other financial assets.
So under Trump 2.0 it looks like we’ll get the Everything FAKE Bubble;
fake gold in the form of Bitcoin
fake swamp draining in the form of more Zeocons and Deep State insiders, as I already wrote about in this article
fake patriotism in the form of MAGA (already discussed here)
fake health policies in the form of MAHA (cue a picture of RFK Jr sitting in Trump Force 1 with a bag of McDonalds in front of him)
a fake immune system in the form of mRNA vaccines and hiring ‘pharma boy’ Vivek Ramaswamy (Big Pharma discussed here and here)
a fake ‘peace’ candidate, who is hiring warmongers, neocons and is quiet like a mouse while Biden throws more weapons into the Ukrainian conflict (discussed here)
What could possibly go wrong by pumping Digital Nothingness like Bitcoin? At least during the Tulip Mania in The Netherlands which lasted from 1734 to February 1637, after the dust settled and prices had crashed (some tulip bulbs were trading for the price equivalent to the price of an Amsterdam canal house in February 1637) at least you would have had a few tulip bulbs as a souvenir. If the Crypto Mania Bubble bursts, your hard-earned money will have disappeared into digital air…
Can Bitcoin, just like tulip bulbs, trade for as much as the average price of a home in the US, which is roughly $420.000,-? I guess it can. Can it trade higher than that? Perhaps… Can it go down to €5,95 per bulb “coin” when the dust settles? Probably! 😃
Am I a cynic? Probably, but I prefer to look at the hard facts and think of myself as a realist.
This Everything Fake Bubble seems to be driven by financial institutions, financial mainstream ‘media,’ and now with Trump, politicians.
You can’t teach an old dog new tricks, and Trump has a lifelong history of lying, cheating, draft-dodging, making deals with Swamp Insiders, and backstabbing his creditors by declaring bankruptcy. Why would he not backstab his electoral creditors again as he did under Trump 1.0?
Oh wait, I know…we “should be patient and trust the Plan.”
p.s. don’t forget to donate to my Lightning Bitcoin wallet! 🤣 skillednation31@walletofsatoshi.com
Once again, NOTHING written above is financial advice and is merely for educational purposes. Do your own research and due diligence.
Please leave a like, some feedback, or a perhaps a subscription if you find this content interesting.
Let me know what you thought about my article;
any points I missed about Bitcoin?
do you have any answer to my questions about Bitcoin?
anything you (strongly) agree or disagree with?
anything you wish to add?
If you liked the article and you have some spare Bitcoins-Satoshis laying around, please consider sending some of it (via the Lightning Network) my way. Many thanks, much appreciated! 👍
skillednation31@walletofsatoshi.com
pro-Western and pro-Globalist
You ae pretty much right about all Bitcoin related things :)
A digital ledger with builtin-security is not *money* but it can be (re) used as a database/record for a real (depposited if you so chose) money (no counterfitting of recipts) or any other kinds of services/goods that currently government/banks have a sole monopoly on recording (e.g. property records) that have to be recorded and are of *public* interest.
The most likely path is the one of decption, after pushing CBDC and failing, they will adopt/regulate one of the popular "crypto" chains as new money .. (most likely after the crash - so there is convincing argument for need for regulation).
Trump can best be described as the false messiah whose job is to entrap as many as possible into NWO.
There are also significant architectural problems with Bitcoin. The following was lifted from "Bitcoin — The Untold Truth" by Paolo Raimondi, Jun 23, 2020
https://medium.com/@raimondi_18761/bitcoin-the-untold-truth-f125b3e3aa3a
Code Developers have the ability to build their applications down to layer 4 of the OSI model, which is locally significant to the computer system to which that particular application resides. However, if that application wants to interact with a counter-party over the internet it must speak the language of the internet, which is TCP/IP.
Bitcoin is an application layer protocol, no different than any other application layer protocol that has been written to interoperate with the internet.
It is easy to capture packets of a Bitcoin traveling though a network. Internet Service Providers around the globe can identify Bitcoin on their network quite easily and collect information about the conversation as well, there is no need for them to see the contents of what’s inside as they know already what type of conversation is taking place.
Bitcoin’s dependency on a public network acts more as a liability than an asset, as this level of exposure is enough for Internet Service Providers to begin blocking the protocol from ever being allowed access on the public network.