Last week, I was offered an opportunity to write an opinion piece for The Hill. I took advantage of the offer and put something together addressing the whole “is Bitcoin a bubble” debate, and I’m pleased to say it was published earlier this morning.
It’s important to me that I don’t just preach to the choir when it comes to my unconventional views, and I hope this will help me reach a wider and more mainstream audience.
Below are a couple brief excerpts from the piece, published in full at The Hill:
For one thing, bubbles don’t do what bitcoin has done since its inception in 2009…They don’t come right back a couple of years later and soar again to a new price 10 times greater than the previous bubble’s high, which is what bitcoin has done after each one of its three or four previous “bubbles” burst.
The real bubble is larger and far more dangerous, and it lies at the heart of the global financial system. If anything, bitcoin and other crypto assets are merely providing an escape hatch from this legacy system, while simultaneously offering an opportunity for a better and more decentralized future.
Please read and share.
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In Liberty,
Michael Krieger
Donate bitcoins: 35DBUbbAQHTqbDaAc5mAaN6BqwA2AxuE7G
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Both Bitcoin and the current (western&US-controlled by the Global Private Banks) financial system is a bubble. Solution: Create a real PUBLIC banking system in each country that is accountable to the PEOPLE and not controlled by the global private banking cabal.
Ok.DSK, you have my vote! We are on the same page! Article 1 section 8 Clause 5!
bitcoin is no longer one monolithic entity
now it has 2 branches with very different use-cases:
BTC is corporate and middle class friendly the other BCH is 3rd-world and low-income friendly
Totally agree, DSK. In addition, we need to have multiple, locally controlled currencies that are directly traceable and accountable to those whose labour and creativity underlies their worth. I love your work, Michael, but your argument is a false dilemma.
Agree 100%
Even Bitcoin climbs a “wall of worry” on the way to its blowoff top.
great article, any plans to accept bch for donations ? [1 cent fees]
No, I will not be accepting BCH donations.
However, if you’d like to send Litecoin instead of Bitcoin, you can send it here: LRNDUai817ZpjiKhbsBsbpAh4uMTe3CJ4e
Well Well Mike Krieger congratulations on making it to MSM! Ladeeda! Massive achievement. Good for you!
The Markets Are Saying That Everything Is So Overpriced, That They Would Rather Pay $15,000 For Nothing, Than Any Offered Price for an Ounce of Anything – Andrea Iravani
https://rebel0007com.wordpress.com/2018/01/08/the-markets-are-saying-that-everything-is-so-overpriced-that-they-would-rather-pay-15000-for-nothing-than-any-offered-price-for-an-ounce-of-anything/
Peace,
Andrea Iravani
Lol! See the irony there!
Wonderful Article. keep up the good work. We need more people like you to get people out of the MATRIX
Cryptocurrancy is a Ponzi scheme
Great insight. Unfortunately there will allways be the flat earth’ers …. or people who simply can’t be bothered to listen , or thoes who believe Opra will be president!
Nevertheless when you look at debt and government. It’s a no – brainer , thanks again !
The money system, is unsustainable as anyone knowledgeable long knows.
great article.
I would like to donate some bitcoin but would prefer it if you change your address to a segwit native bech32 address.
Or get in touch with this guy and have lightning tipping enabled on your site.
https://tippin.me/