Don’t be fooled… there is a war going on for bitcoin.
I posited to TDV subscribers months ago that factions of Bitcoin Core and Blockstream are a globalist attempt at taking over or destroying bitcoin. Or at the very least, an attempt to profit from it being slow and expensive.
How else can you make sense of a group that thinks it is totally fine for bitcoin to have transaction fees in the hundreds of dollars. In fact, they prefer it to be expensive!
Bitcoin Segwit2x was purported to be the answer to speed and cost issues. And, as we know, that fell through this week.
At first, the cryptocurrency space did not know how to react. Bitcoin surged to nearly $8,000 on the news and then quickly retraced back to near $7,000. Altcoins soared as much of the crypto money was waiting to ensure they retained their bitcoin through the fork before deploying other bets.
How quickly things change.
Today, bitcoin sank below $6,500 and the alts got demolished. Only one cryptocurrency stood out in the green today… and big time.
Bitcoin Cash soared more than 50% and peaked over $1,000 earlier in the day trading nearly $5 billion in volume… almost the same as bitcoin.
That’s a stunning 200%+ gain from $320 where it sat one month ago.
I recommended strongly to TDV subscribers (subscribe HERE) in August not to sell Bitcoin Cash.
The reason? It may end up being the real bitcoin.
What is the “real” bitcoin, you ask? That’s a tough question to qualify.
But if you thought bitcoin was an anarcho-capitalist digital currency meant to make the current central banking fiat currency system obsolete by being able to handle transactions of millions or billions of people for little cost and with digital age speed… then bitcoin is Bitcoin Cash.
I don’t know how to explain the actions of many of the Bitcoin Core developers.
Blockstream is the biggest funder of Bitcoin Core and employs many of the developers.
Who owns Blockstream? Well, one of the main shareholders is insurance giant AXA. CEO and Chairman of both the Bilderberg Group and AXA are the same person, Henri de Castries.
Yes, essentially, the person most in control of bitcoin development is the Chairman of Bilderberg; the place that I have gone for the last three years to expose from the outside! And, even one time, briefly, from the inside.
If the globalists wanted to destroy bitcoin, they would do exactly what they are doing with Blockstream.
Does this mean that I think some of the top developers of bitcoin code are part of the globalist agenda to destroy bitcoin? Only they know.
But, I wouldn’t be surprised if they’ve been duped.
No offense, but I know techies. They are wonderful and incredibly necessary to design code.
But, when it comes to understanding how life works, economics, money, marketing or even how to pick up girls… well, forget about it.
In any case, whether they are aware or complicit or not, the anarcho-capitalists are now making a strong move to take back bitcoin and leave it and everyone alone.
Anarcho-capitalist and USSA defector Roger Ver of Bitcoin.com has been a very important part of this process.
He tweeted today:
Rick Falkvinge, founder of the Pirate Party and author of Swarmwise, has also chimed in.
And, you know me. Anarcho-capitalist and one of the biggest proponents of bitcoin since 2011.
Here I was at a hockey game last night in a third world country, always staying on message.
And, yes, I support Bitcoin Cash.
Does this mean I’ve sold my bitcoin and bought Bitcoin Cash?
No. But I did retain all the Bitcoin Cash on the August 1st fork and recommended that all TDV subscribers also HODL and not sell their Bitcoin Cash.
What is happening today is why.
This isn’t over. In many ways it hasn’t begun.
Roger Ver, Rick Falkvinge, myself and hundreds if not thousands of ancaps will be at Anarchapulco and Cryptopulco this February discussing the future of a stateless money intended to rid the world of governments and central banks.
Either you are with us or against us. If you are with us, register now to be part of the evolution.
If you are against us, get ready for a fight.
It begins.
Curious to see what will happen in the end
Meanwhile Litecoin has 0 forks, 0.01 fees and Charlie Lee!
litecoin rocks but i have none... should get some...
Few year later a man come to me and try to sell his 10 bitcion in just 1000 pound i said i m not intrested now i m thinking i m idiot lol i all aboute fate
litecoin will be awesome again soon
Is that a fart-powered train? What is that brown shit? No pun intended-
the ride might be shitting bitcoins :D
Nice logo, dude. Haven't seen that one before, but probably because I haven't really seen you on here at all in quite some time.
thank you very much, made it when busy announced their updates :)
logo was due as well :D and it's 2k now :D a bit too big for a logo :D
https://busy.org/art/@j3dy/updating-my-logo-for-the-beta-test
the root post :D
it basically took me a few hours to render out a few versions.
and yeah I was out of steemit for a bit, got really disappointed a few times and bored and left out and all that ...
or shitcoins
Lmao
I'm bummed that litecoin has segwit though. It seems like a good idea but under the surface it makes it possible (still unlikely) for someone to threaten the security of the blockchain. segwit basically allows bitcoin to break its own rules thus allowing someone to exploit it if they have enough power (ie government)
Yea I agree but it's open source and a decentralized coin so user consensus could reject any changes. At the end of the day it's up to the users to decide
Segwit allows for things like recovering loss funds and miss payments which are huge to mass adoption
super duper
Wouldn't the same threat apply to P2SH addresses?
lol a very good point there are plenty of alternatives out there
Lol God Point
It has Segwit and will eventually have the Lightning Network., So why buy Bitcoin. It makes more sense to buy Bitcoin Cash.
Used to respect, but after Charlie went on a rant against Bash, it's suspiciously simple he feels his whole project is totally threatened. Litecoin: Faster blocks Yes. 4X. 4X coins Yes. New tech? Yes viz-a-viz Segwit + Lightning. But alas, Bash came in August, and now even Lite + Dash combined is lower in total cap.
What is the “real” bitcoin, you ask? That is NOT a tough question to qualify.
BCH is the real deal, it follows Shitoshi's white paper BTC does not!
It is time to hold btc cash. Nice information @dollarvigilante
Did you really think BTC was just going to rise parabolically and not be challenged???
The bigger they are, the harder they fall...and Bitcoin is a behemoth (I'm not saying it's going to fall, just pointing out that the bigger they get, the bigger the target they become).
But Goldman Sachs said that the bitcoin will consolidate at $8,000
I think people are going to see quickly how limited BCH is as well. I also really believe a big part of the sell off was from news that bitcoin classic is no longer being supported and instead they support BCH. Well hearing bitcoin classic I think most people thought of BTC which ITS NOT! perhaps people will realize this soon or maybe its already happened as we seem to be on a steady increase again in BTC.
Whats scary is simple misunderstandings and news can alter the value of a coin by that much it almost makes me want to cut my profits here soon and run because honestly a majority of people are real dumb when it comes to investing and trading sorry to say.
On that note, I'm wondering how much BTC will keep being pumped up simply because main street just knows "Bitcoin" and at which point will main street flip to Bitcoin Cash - will $2,500 be enough or will it have to surpass Bitcoin? Or will it just be a news event like Coinbase switching the designation?
I just dont see it overtaking it, there is to much infrastructure etc backing BTC compared to others like BCH. Correct me if I am wrong but all the systems out there and ETFs etc all work on the BTC blockchain and it would take some effort to convert them over to BCH ?
I think it is relatively simple to switch to BCH because it has virtually the same code as bitcoin... I could be wrong though
Well it might not be but what everyone fails to realize is BCH does 1/10th the transactions that BTC does. So their example of low fees is flawed simply because people are not using it as much as soon as they do it will run into the same exact issues and the only thing they know how to do is increase the block size from 2MB to 4MB which is murder on miners lol
They are at 8mb right now and they are testing doing 1gb blocks. Just to prove it can be done. I don't know if that's the answer, I think faster block times would be better but I'm not an expert...
How much does the news really affect market sentiment? BTC made huge gains and is having a healthy normal correction. Just seems this coincided with bch btg etc kabooms... yes it a time for alts. while btc corrects.
Is there any reason for Bitcoin holders, other than trading, to split their Bitcoin Cash. Is there a time frame for splitting or are they safe so long as u held BTC at the time of the fork? Same for Gold?
Nope as long as you hold your private keys from before the fork then you have your coins on both chains.
Thanks Patrick.
thanks to the Koreans who are pouring their money into BCH...
Korean exchange market doesn't necessarily mean Korean people. Anyone can create an account in Korbit or Bithumb. Recent US exchanges have been plague with questionable decisions of freezing account, maintenance, btc stolen (Bitfinex) and other mishaps (Bittrex, Coinbase). These users would try to use other options.
ha ha ha so love this. You're awesome Jeff
Hopefully BCH can also make use of the lightning network when it comes online. What LN does is take most transactions off chain so that it's used like a court system. The question is which court system is better: the 1MB block court or the 8 MB block court?
LN uses game theory to settle transactions off chain with similar ideas to mining bitcoin that makes it very costly to cheat. Therefore submitting blocks to "blockchain court" for settlement would be done only when necessary.
All I can say for now is that if LN comes online, this issue about block sizes may be moot and it will also make it much more difficult for chain analysis tools to work, enhancing privacy.
this is the best movie i've seen in a while
i'm holding both ;-p
I'm sure that Bitcoin ($BTC) will go up.....this might be the time to get in.... Buy now and wait for it to go up.
Jeff's always strategy, buy as much as you can when it is low :) I remember his phrase from past videos on utube
Bitcoin this Bitcoin that. Just keep your BTC and keep buying more since the price is low!
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I'm more, and more convinced towards BCH. It is better.
You have a very large audience. You would do better to be informing them of the dangers of blockchain technology instead of manufacturing a "war" because an altcoin got a pump.
BCH is in the midst of an extended pump and dump, just like every other coin. You can speak of war when a major exchange removes BTC for a BTC fork.
Waaaa....i just sold my bch last month....
Could someone say pls, how to store BCH in blockchain wallet ? I'm not clear the point that BTC address can also support BCH , like that ?For example , I 'll buy BCH from exchange site by PM and then can I transfer to Blockchain BTC wallet address ,Pls.
You're dangerously at a position to lose your coins from your statements (no offence but from what you wrote it seems you've no enough thorough understanding of how it all works and the fabric of the usage and connections) You should seek professional tech support.
bitcoin cash rise to the top
I believe it just can't be stopped
faster transaction time and lower fees
they're all gonna storm bitcoin cash like killer bees
it's heading for a moonshot
some are gon' get rich, others are gon' be outta luck
bitcoin might get chopped
get this right and you might be the next millionaire on the block
I get it! I see how this could be happening to Bitcoin Core. Can someone recommend a reliable exchange to purchase/exchange Bitcoin Cash? Coinbase does have give the option on its basic platform.
Bitcoin was in bubble situation
I was sure it would crash one day
I think you are saying the same words as Jamie or as Walid ben Talal, they saw it earlier but it didn't helped them as it seems, just a thought
very interesting info, thanks Jeff for keeping us updated at all times. Love reading your posts and staying up to date.
Damn, I wish I had been paying closer attention to what's been going on behind the scenes with the Bitcoin core team and the various forks. Nevertheless, I did make the panic decision to exchange about 40% of my BTC for BCH this morning and it's already paying off. I think I'll ride this hedge for awhile until it becomes clearer how things will shake out.
Bitcoin cash is the true bitcoin
Behind you was the former nhl ottawa foward Alexander Daigle ???
I also Say that bitcoin is anytime incrased.
Thanks Jeff, I just wrote about the impact of cancellation of BCH price, because of you Jeff that I now have BCH 1st of August, I saw that video where you talked about securing your BTC to have BCH. Here is my article
You are true about the various up and down of markert . Can I know what should I do plz suggest me should I sell my bitcoin
Winter is co
Nobody knows anything. Experts cannot predict the future. AI and machine learning do not know how much Bitcoin or Bitcoin Cash will be worth in the short term, let alone the long term. All you can do is make your best educated guess. Should I stick my money in the old system or should I stick my money in the new system with a much greater chance of larger returns? The answer is easy to me. You have to take some risks in life, YOLO!
I dont see that coming. But some exchange fiat crypto only accept
To me this is a fork play.
BTC cancelled a fork which many bought in hopes of free coins...now they are selling.
BCH is forking...people want free coins.
Now the big question, why fork after only 3 months?
At this moment, speculators are dumping BTC and pumping BCH. This minor sloshing shall continue for a short while, only a short while.
I think it is a trending sell-off and re-buy with BCC profits.. I bet with the changes in China's laws, it might decrease liquidity over time and increase market cap value.
Nyc Post!! I like your Posts!!
Now the bitcoin socialists want to rewrite the bitcoin white paper and have people take a 'bitcoin basics' course. Typical socialists wanting to rewrite history and send people to re-education camps.
With the abandonment of SegWit2x, the banksters are in full control of bitcoin through BSCore. The coup d'etat is complete.
Buy Nexus !!
As always, keeping the TRUTH alive and well...
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How does someone sleep at night after looking so stupid from posting on twiiter about looking forward to $100 transaction fees?
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superb informative post about bitcoin.
Thanks for a really informative post.
Great article man. I had no idea about the powerful hands behind Bitcoin, but got the feeling that if Roger ver was not on board, and the programmers were not interested in subverting the state and its parasitic "monetary" system, it probably was not for me.
Thanks for the information Jeff.
Gave you a mention in my SF2 roundup 👍🏾
Congratulations @dollarvigilante!
Your post was mentioned in the hit parade in the following category:
Very disappointed in your take on the situation.
Especially to someone like you it must be very clear how BCH was artificially pumped via Korean zero-fee exchanges and washtrading, and how there was a coordinated attack on Bitcoin through media, mining farms, pump&dump schemes etc.etc. - or have you actually been part of it, have you received money?
Anyway, complaining that BTC is 'connected' to 1 corporation feels like a joke when BCH is actually managed and CEO'd by a shady business conglomerate and centralized in China.
Furthermore, you as a professional must know that Bitcoin transactions are only as expensive as they are because many exchanges and services connected to said shady business conglomerate still haven't implemented cheap Segwit transactions after 4 months, and because miners are instructed to delay BTC mining in order to help the 'BTC is slow and expensive' narrative.
Bitcoin will live on, and be stronger and better than ever before after having made it past this extreme and embarrassing (to the outside world) attack and kindergarten-/villain-like behavior of some invididuals involved. It's kinda sad that you - just as Roger Ver - have changed from being a Cryptocurrency evangelist to a Corporation & Government evangelist - and that actually without even realizing it! It's always fascinating how long-term strategists like Chinese can single-handedly turn their former enemies into puppets that eat out of their hands.
There is no war. It’s just Roger Ver pumping his centralized alt coin. They just forked today and dropped the difficulty by 86%. The coin is being molded around the miners need to be profitable. And yes there’s are two main groups controlling the mining. This is a short term coin that is going to financially ruin people at the end of the day. I used to look up to Roger Ver and now I don’t trust him. I think he’s lost his mind. I’m staying far away from this bitcoin-trash until it actually becomes decentralized.
Someone asked me which university I went? My answer: J Berwick University. Just tune to Jeff's youtube both his personal one (with his dogs daily walk!) and the DollarVigilante - you'll learn 1000X more in life. Yes 1000 X your life, not just imagining trying to X up the money.