In the old days of cryptocurrencies, which was 2015, if a group of violent criminals called “government” somewhere in the world, “outlawed” bitcoin, it would cause a fairly serious drop in the price of bitcoin. And it would often take weeks or even months for the price to recover.
So much for that! Vladimir Putin followed China’s lead in trying to use violence to aggress against peaceful people and “outlawed” bitcoin exchanges today.
In the moments after the announcement around 4:00 am EST, bitcoin crashed around $600 according to CoinDesk’s price index (an aggregate of Bitstamp, Coinbase, itBit, OKCoin).
And, within 10 minutes, it had recouped around 90% of the losses!
There are theories online that this was an attempted manipulation of the price. But, if it was, it failed miserably.
And if it wasn’t, it’s a testament to bitcoins resiliency. What used to take weeks or months to recover from is now recovered in 10 minutes.
Some conspiracy theorists online say that bitcoin is a globalist invention to destroy the entire globalist system! But, their theory is that it will get everyone online where they can be tracked - except thanks to countless cryptocurrency innovations, that is impossible.
Many of those theorists assume that if more governments try to outlaw bitcoin exchanges it will kill bitcoin. If anything, today, we saw that it may be the opposite.
And, why wouldn’t it be? If you are a slave here on Earth (and you basically are unless you are in one of about 100 families) and you see that all your options for banking are being taken away and your extortion (tax) rates already have you on the edge of poverty, why wouldn’t you rush to buy bitcoin BEFORE governments outlaw it and make it very difficult for you to get with your ever declining fiat currency?
I know that if you told me today that every bitcoin exchange in the world would be closed tomorrow, I’d rush to buy more. It might be my last chance to have a modicum of financial sovereignty in the future!
After all, you don’t want to end up living in a dystopian future where you only own gold and have to do what this guy did to try to get around all the bureaurats and order followers.
And, without bitcoin, good luck taking advantage of the cryptocurrency/blockchain/ICO evolution that I think hasn’t even begun yet (but will have major crashes along the way to shake out the weak hands).
If you still haven’t taken the time to learn about bitcoin I recommend checking out my free four- video webinar where I talk about the importance of bitcoin and even offer to send you $50 in bitcoin from my personal wallet if you accept our offer to get more information!
You can check it out here.
And, by this weekend, the next issue of the TDV newsletter will be out where we provide our analysis and recommendations on bitcoin, cryptos and ICOs in the space! And an in-depth analysis of what you should do about the upcoming bitcoin fork in November! You can get full access to that here.
Bitcoin isn’t going away and it has shown, yet again, that it is the honey badger of money by barely flinching at Russia’s attack. They don’t get it; bitcoin don’t care about your illegitimate “laws.”
Love the website, love the DV's work. The Pivx prediction he made earned me a tidy packet and later helped me with crippling vets bills during a bad time. Awesome Anarchist making the world a better place. Steem on crypto Nostradamus!
Just remember everything China and other governments have banned have ended up being wildly successful, the more they ban the higher it will go!! #honeybadgerdontcare
Yea, the cobra effect, the more they want to ban, the more people will try means and ways to do it.
Yo ,
Very interesting read, Thanks you for sharing it!
I am all about the bitcoin/crypto revolution, but it's made me question the most basic assumption that is critical for crypto survival - that internet and steady electricity are a forgone conclusion in the future.
I do not believe that anything is guaranteed. We are in a strange blip in history right now and experiencing greater chaos and disruption along with dwindling natural resources. Tell me, if you were living in Puerto Rico right now and had a massive stash of Bitcoin, what good would it do you?
The dependence upon reliable electricity and telecommunications is the Achilles heel of Bitcoin and crypto. I should know - I've torn both of mine! And while I certainly hope this experiment continues for a good long while, I encourage you to entertain this possibility and work on acquiring hard assets and learning hard skills that will persist in the face of technological collapse.
Good insights and for sure bitcoin is here to stay. So many governments and exchanges have been trying to manipulate prices already but the system is proving rather resilient. But we do have some major percent swings for me I am in for the long haul till we hit some nice numbers like 20k + per
the russians can try, and they will fail
just like the Chinese are already slowly backpedaling on their decision and they have the great firewall to back them up which Vlad does not
I have to agree, when I saw that Russia was outlawing crypto I watched to see if the market would crash, sure enough bitcoin was barely affected by it.
I am a true believer in Gold as wealth, not sure I would go through the lengths of sticking it up my rear as this guy did, but one thing seems certain, Bitcoin marches on and stronger.
This guy is an awesome example of what an anarcho capitalist should be. Straight forward, yelling loud against the unfairness that most refuse to see due to the seductiveness or adopting a normalcy bias. But above all he's putting the tools for breaking free of the prison of the mind that our government half day education camps (schools) lock us in. Chief among those tools is financial liberation and being able to participate in a free market. As always, great work from a solid bloke. Rock on Bitcoin. Rock on Dollar Vigilante.
Wow this article very informative thanks fro sharing.
What a lovely time to be alive. We just might see some of the biggest changes in the economic history if this keeps up. And to be honest, I don't see any signs of it stopping.
Russia ain't shhhhhhhh!
Thank you !
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Free sounds good of course. Free for how long can you mine ?
My only regret is I paid more attention to those ads on the P2P sites I was using back a few years and actually bought a bitcoin or two. Then I could laugh at China and Russia as my money kept growing despite them. And hiding gold in your what???
Quite informative. Bitcoin is here to stay whether people like it or not. The exchange rates are going up as we speak. This is the currency of the future!
I am here for the honey badger.
.I can't imagine your thinking.you have get some serious writing skills.you can write on any point.
great post and thinking...
Thanks you..
Funny to see how the market didn't care much about Russia. That should be hard for they ego haha. I guess they will attempt to make noise later on again as China did during a whole month.
But doesn't matter to us, if one government ban the crypto, an other one will step in to take over it =D
We are on the good train haha
1
I am active on Steemit and whoever wrote that to you IS NOT ME!
Thats a very interesting News
Thank you for share information about bitcoin
Next weekend ? Oh my GWAD..its like..what.. the equivalent of 2 or 3 weeks in crypto life span!?
This space move so fast, it make the rest of the world looks like snails while we are going at ludicrous speed (like in Spaceballs :D )!
Your life looks epic, very much like to listen to your opinion, thank you
Has anyone signed up on The Dollar Vigilante site above? How is it?
perfact side is bitcoin so i need create a new bitcoin account
Good info. Thanx for posting.
Hi @dollarvigilante, This is great post. You have rejected the speculations and conspiracy theories surrounding Bitcoin revolution in a very convincing way. Also, this offer made me intrigued to check it:
Sympathies for this Srilankan guy. Someone should tell him about Bitcoins.
I can't agree with you more on your sum up:
Great post with lots of valuable information.
Keep sharing, caring, guiding and inspiring.
Stay awesome man. You got my support.
Steem On!
TDV Bitcoin rap song playing in the background... again
Your post caught the eye of @jbbasics in a Steem drive-by.
It received a 33.33 % upvote from @steemcondenser. Steem on my friend!
While Russian and Chinese government keep trying to cement a conspiracy against bitcoin and crypto, the beautiful island of Vanuatu just regulated to accept bitcoin as one of the payment options for people who want to apply for their citizenship, way to go bitcoin, the power of "wide acceptance from the masses" cannot be overrun.
There's a growing number of things we can do with Coin.I'm really looking forward to it.
Bitcoin is pandoras box, once it was unleashed and used to get around the current financial paradigm there was no going back. Once enough of humanity breaks the chains in the mind and realizes we don't need rulers. Where we are going, we don't need roads.
https://steemit.com/ico/@time-to/disney-ico-update-dragonchain
Just use Bitshares Decentralized Exchange, nobody can tell you what you can or can't do.
And if you don't like Bitshares, you can still store your Bitcoin on the Bitshares DEX (Decentralized Exchange). You can send bitcoins from an account to another in just 3 seconds, no need to wait for 20 min for your Bitcoins to get trough. And with little to no feeds! (unlike bitcoin).
Still wondering why you are not talking about this, after all you did interview the main designer Daniel Larimer. The guy who designed steemit and is working on EOS ... Yea, that one.
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Nice post sir 👍
Thanks for sharing and and very useful information and good job
Upvoted, re$teemed & following!
love your arctile , all your words are true , keep the good work
Its time to start using decentralized exchanges like Bitshares, which I might add is very affordable right now @ .05 usd.
Bitcoin has finally broken the resistance and its trading higher at 5100, and looks to be heading higher, no stopping it now , this is news for those who said it cant rise but will fall,