We are told that the end is coming. Cryptocurrency is going to zero or is a scam. Blockchain, on the other hand, is well liked with great potential as long as it is controlled by the establishment.
That is the mantra we are fed.
This should be a lesson to every single Steemian. Anything you hear from the mainstream media is presented from an agenda and is not true.
The recent price action should alert all of us to what is going on in the cryptocurrency world. We are not seeing the end of crypto but, rather, the beginning. Wall Street is not going to destroy crypto; they are going to make it.
We are witnessing a grand manipulation. This is classic. It is crucial to remember the banker playbook.
- Attack it to scare people away.
- Send in the government hacks to regulate it.
- Buy it with their fiat.
We can see all three in play. The market is being manipulated by the establishment. Why are they doing this?
Obviously, to buy up all they can.
Do you think it a coincidence that the reports are not coming out that an ETF will be approved in February. That will be the beginning of liftoff. Between now and then, they will buy up all they can.
Once again, why are they doing this if cryptocurrency is going to be worth nothing?
The reality is that cryptocurrency is here to stay and blockchain is going to change most industries over the next decade.
Make no mistake, this is not a small market that is developing. Wall Street is aware of how big it will be. We are seeing the tokenization of the world starting. This means every asset class will be liquid. It will also be decentralized.
In the past I wrote how the market for cryptocurrencies will hit a quadrillion dollars. Now, this is not only the currencies as we know them today. There will be security tokens which amounts to hundreds of trillions of dollars. We are also going to see what I term "Income" tokens. These tokens will represent the cash flow on a piece of real estate, as an example. Hence, we could have two different tokens on the same property (actually 3 when you consider the main digital asset which the other tokens are tied to).
This will also apply to earning potential of professional athletes. They will tokenize their future earnings. Movie studios will tokenize big budget films. Even the record companies will do that with concert tours of big names. The possibilities are endless.
My view is not alone. Recently I came across an article that essentially discussed Ethereum. Nevertheless, the author pointed to the derivatives market all being on blockchain in addition to cryptocurrency and other assets. I agree with this idea.
https://level01.io/2018/07/30/blockchain-enable-quadrillion-dollar-derivatives-market/
We are not even aware of how much will be created over the next 10-15 years. The derivatives market is enormous yet it basically excludes the average person. Essentially, it is a closed ecosystem which only the elite insiders and a select few can play in.
What is ironic is that the establishment attacks cryptocurrency as being worthless and having no inherent value. They conveniently overlook the fact the derivatives market is worth hundreds of trillions of dollars and is created out of thin air. They are nothing more than products that used other assets as a basis. The problem is that many of the assets used are nothing more than derivatives themselves. This process is repeated over and over.
Cryptocurrency has no less inherent value than most financial products on the market. The major difference is that the average person is now allowed entry unlike the present system. This is something that is overlooked by many. It is also why I believe the major FUD launched at it. The elite do not want the average Jane or Joe involved. They want to monopolize the way to build massive wealth. Trust me, central banks are not the only ones "printing money". Every major Wall Street firm does the same thing.
And now, the ability is offered to all. Is it any surprise that the establishment is attacking the daylights out of it?
We are looking at a quadrillion (or multi) dollar market and they do not want to share. They will do everything they can to maintain their control.
Fortunately for us, they will fail.
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I agree 110%, all the markets are rigged, all the markets are dropping. Now we know that in Japan they are printing and printing and openly propping up the market. They won’t let the markets fall they have stops, and when they have filled there pockets..... the markets will rally!
Resteemed 👍
The level of debt that’s been built up in Japan is insane. And this in an economy that’s gone sideways for decades.
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I believe in the Us we are doing the same, just Japan is open about it.
I totally agree with it. I'm just new to crypto((about 80 days) and struggling to understand it and your article really helped me to understand its potentials.
Thank You!
Regards,
Dayyan Khan
Interesting perspective. What is the evidence of the buy in by these interests? Do we have stats? Not doubting you but looking for facts!
yes institutions investment are buying in like Grayscale which now owns 1% of all the circulation bitcoin.
https://www.newsbtc.com/2018/12/05/institutions-still-bullish-on-crypto-grayscale-owns-1-of-all-bitcoin/https://www.longhash.com/news/short-take-grayscale-continues-to-buy-btc-now-owns-over-1-of-circulating-supply
Ok time to buy everyone!
I clicked on the link and it didn't open the specified article :(
It's interesting to see it play out along-side all the "hypothesese" (or whatever the plural of hypothesis is).. I'm curious to see how it all ends up. At the very least, it's a low risk high-reward scenario if people choose to stick in it and buy in when it's low.
Ah dude, I think you missed the most important sentence here:
At my friends Thanksgiving that we crashed a couple of weeks ago, I got talking to her Dad who is in Finance but nearly retired, upon learning I was in IT mentioned Bitcoin and Tulipmania in the same breath. So. much. sigh.
Sounds like he is retiring just in time, before all he has learned goes topsy-turvey. This is my third crypto bear market and each time tulips have been one of the main sources of FUDs. The big difference is that you can grow as many tulips as you like; while there will only be 21 million BTC/BCH ( not counting the countless wallets that have been lost).
It doesn't change the fact that you can spool up a new bitcoin fork with a different amount of units. It's artificial scarcity, just like controlled housing markets and everything else that's going on today. It doesn't make a whole lot of sense, on the face of it.
Personally the tulip defence doesn't cut it with me. Forks can dilute, yet coin holders get increased amount of coins in the process and unless the coin has a genuinely different approach than what it forked from it is unlikely to have the needed network to survive the dreaded 51% attack. We have seen that recently with the ABC/SV fight for the BCH ticker dominance. We shall see, in due time, if your friend's Dad is a dinosaur of finance or not.
It's my friend's dad... but honestly, yeah... I think he'll retire just in time to be honest. He's done well for himself... but I'm sure the next decade is going to be very, very different.
Change is coming -- and my money is on that it's coming in a direction that most people (including crypto early adopters) don't see coming.
Every time I see someone write "HODL", it strikes me as "hoarding" which is aligned with scarcity. Given the fact that this is an accounting system that we, as a community, are creating -- it seems to be reasonable to any scarcity is "built in" or "artificial", as a means of letting people accumulate "wealth" from some weird, intangible, "non-existent" value... Pulling something from nothing...
Most of what I read is old-school thinking applied to new technologies while avoiding new economic theories, and it doesn't make any sense (at least not to me -- but again -- I've been drinking for a few hours now).
Wow doesn't he know that Bitcoin has spiked like this multiple times? How many times did Tulipmania happen?
One half of me is a true crypto believer (for the way it works) the other half is truly doubting if the manipulations gonna kill the faith... (it's probably just my human nature speaking up :))
The end of your post says it all...Our prosperity golden age is kicking in...
Obviously, there are many new wonderful dApps and blockchains appearing like mushrooms in a forest after rain :)
Actually I preffer to call them networks ;) My main vision is for the terrestrial Internet to be fully connected to the Quantum one. Maybe our devices are too old school (petroleum based)
Do you think we should be buying in now or do you think we should be waiting for a more stable bottom?
Steem is one of the few crypto that you can make more tokens with the more you have, from 2.5-ish% interest on vested steem to greater reward share the greater the stake. This makes the bottom less critical to me.
Bought my Minnowhood for 0.00024 BTC yet made 20% in tokens in a few short months. Bought Dolphinhood recently at 0.00008273 BTC and have been feeling great vibes helping noobs with delegations since the HF20 RC Squueze. Hopefully will get another buy in before Febuary 2019 at an even better rate.
Man if things continue this downward trend through February I'm not going to feeling good about that.
My feeling is that the manipulation will continue until Wall St. is ready to release the bulls; though time will tell.
I have been buying on the way down and will continue to do so....my next level is 20 cents.
Last week I was thinking that the bottom was going to be $0.21. However I have feeling that by this weekend we're going to see $0.17.
I tried dollar cost averaging with Cardano throughout the year and here we are looking at $0.02. The majority of that was at $1.40 - $1.00.
That makes me hesitant.
However, I fully believe in Steem so I think my buy in point might be $0.17 to start. Just for a gamble I'm going to call $0.17 by Sunday.
Steem ... they laid off 70% of their employees ... reminds me of 2001 when the company I was working for laid off 90% off it employees ... eventually 6 months later we were gone like many of the early web 1.0 companies
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For sure am getting tired of the beer market, cant wait to see bull run back in place. For sure i read your article and i feel relieved, now i remember back in 2017 when a lot of trash was said about Crypto and it later wen up and increased drastically. I know for sure this thing is been manipulated and for sure, this year has shown it. I pray the market bounce up very soon and we can all start smiling back.
The elite just looking for opportunity to always stay on top of their game but thanks to Crypto like steem which has given the poor a voice to speak.
Sorry to cut in sir, dont know if i can get your handle on discord, there is something i want to show you.
This post is amazing i must say @taskmaster4450
We are almost there! I just noticed that CNBC just turned off the bitcoin price on their evening show! While being ironic, this is the sort if things we start seeing at a bottom!
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The mainstream prefers pumping bitcoin when it's going up, then falling silent during pullbacks. Their actions help fuel crypto booms and busts, which would be less severe otherwise.
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Do not miss the last post from @steemitboard:
You appear to be making two contradictory claims, that:
1.) The elites are buying up cryptos right now.
2.) The elites are driving down the price of cryptos right now.
Just curious how you have come to the conclusion that the current crypto pullback has anything to do with elite price control, and not just a typical U-shaped correction that cryptos have always gone through since they appeared in 2011.
The futures market opened a year ago with an orchestrated FUD that was relentless throughout 2018. And most of the major Wall Street firms are opening up trading desks. Plus we know they are buying on the OTC markets.
It is not unheard of for the major banks to be doing one thing on side of the building and the completely opposite on the other.
Add in the timing on the ETF announcement by the SEC, who is squarely in the banks pockets, and I remind mysel fI have seen this story before.
It is par for the course with them.
Remember what Friedrich Nietzsche said...
You got to believe it !
A lot easier to control
Even though it is decentralized.
Stay focus and learn blockchain and buy what you can afford to lose
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In the future it would be fun to have a piece of some big blockbuster movie token or a world class athlete.
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Lucky for us when they buy out all the current tokens, because then new tokens will be created that they don't own. The world will begin to wake up from their lies.
It will be harder to cry wolf against new cryptos instead of rejecting all of them.
How can you be so sure EFT will be approved in Feb? That would be great. Way too many people have been telling me the bears will stick around for well over a year now, although Ialways thought that the bulls are around the corner.
Where can I read more on this?
love you point of view and i agree with that. the value crypto now is only temporary , i believe that the value of this crypto will grow up as many people start pumping their money to buy coin (for those who see this opportunity )
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This old USA Dollar market must fall soon.
How on earth are they (the zionists) going to fail? - they are currently buying up all the cryptos dirt cheap.
From this point on I'm hoping to ride the next wave up but I'll be doing it knowing whose coat tails I'm riding on - scum like goldman sachs! Rotchild has got this one I suspect
I 100% agree that the banks are after buying the crypto in order to ledger their economies with it and thus maintain their power with the next booming market they cant defeat, but I dont know the most about crypto in general.
Could you explain to a noob like me, if you have some free time, why the banks wont win in their quest to once again control all the wealth and keep everyone else out of the system when it comes to crypto? How can anyone join in if they end up buying most of it off the markets? wont it get harder and harder to mine, or is that just bitcoins problem?
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