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The Bitcoin Bubble By James Reed

     Mike Adams continues his outpouring of critique on Bitcoin:
http://collapse.news/2017-12-05-federal-reserve-vice-chairman-declares-bitcoin-a-serious-risk-to-financial-stability-crypto-markets-plunge.html
http://collapse.news/2017-12-04-bitcoin-now-consuming-more-electricity-than-12-u-s-states-as-inefficient-mining-heads-for-collapse.html
http://collapse.news/2017-12-03-how-to-explain-the-bitcoin-bubble-to-young-people.html

     I have no competency on this matter, but I find his articles informative, and personally, if I had money to invest, which I do not, I would not be acting as many young people are, and having faith in this cryptocurrency, just because it is gee whiz, high tech, computer based. I do not see what prevents the entire system from collapsing. The reply is that conventional fiat currency faces the same problem.

     Yes, of course, that is the point. Just because one form of “money’ is vulnerable, does not mean that the alternative is therefore “safe.” Perhaps all of these systems will bite the dust in the coming crash?

     I support the John Steele system, of having stockpiles of physical goods that one needs now in day-to-day life, to face coming calamities. Who knows, one EMP event, and Bitcoin bites the dust, or just disappears.
https://www.naturalnews.com/2017-12-06-david-stockman-calls-bitcoin-a-runaway-bubble-in-the-throes-of-mania-headed-toward-its-own-demise.html

 

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Tuesday, 26 May 2020
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