Those of you who don’t understand the phenomenon of BitCoin don’t feel bad. It’s not a very easy concept to grasp. An electronic “crypto-currency” based totally and completely upon faith with no backing what-so-ever…REALLY?! Sounds like the US Dollar if you ask me! (Before I go on…all you Bitcoin lovers please don’t send me your 100 page White Paper on the virtues of Bitcoin. I’ve already read it all and I agree with you…kinda).
But I like Bitcoin for another reason…the education it offers the uneducated about money. The entire concept of a currency that is non-regulated, non-debt based, non-government sponsored and fairly hard to manipulate sounds real good…especially to a long time silver/gold bug! Just think of all the people out there who are getting excited about something other than a fiat currency. ANYTHING OTHER! It’s a GREAT education. People are learning just what a currency is and how it can be used.
And what about the FEAR factor? With governments around the world printing and taxing and confiscating with reckless abandon who’s to blame anyone for getting a little “Bitcoin Crazy”. And what about those people trying to hide and smuggle their billions and billions in fiat money? First JP Morgan bans international wire transfers and now the Europeans have CASH SNIFFING DOGS!
So the race out of fiat has begun and for the first time in monetary history there is a TRANSITION CURRENCY that may be widely accepted BEFORE the fiat system implodes! Don’t get me wrong….Bitcoin will have many gyrations as it rises and some will be artificial (Yes-banks and governments are in the Bitcoin game) but it is still better than fiat so it will continue to rise. Bitcoin will likely go to a $Million Dollars per coin as the fiat system fails because it is still much better than anything the Global Banking Cabal has to offer. But then what? What will those BitCoin multi-trillionaires do with their new found fortune?
BUY PHYSICAL SILVER OF COURSE!
And that’s the very best thing about Bitcoin – the inevitable END GAME. You already know how it will go down as EVERY unbacked currency in the history of money has FAILED. Every single one and people always, and I MEAN ALWAYS, return to using gold and silver as money. It will be no different this time with BitCoin.
These BitCoin people are not stupid. They understand currencies better than most. They know BitCoin is a very good form of money…but it is not the safest. It has no history. It has no buy in from the 7 Billion people on the planet. It requires technology and sophistication. BitCoin may not die totally until after the US returns to a physical gold/silver standard but once we do….Bitcoin will die overnight.
Today very few people understand the value of physical gold and silver except those educated in monetary history. Gold and silver prices have been massively suppressed for decades so they are “off the radar” for most. I believe, BitCoin will likely have it’s glorious moonshot BEFORE gold and silver simply because there are no derivative exchanges like the COMEX and LBMA set up to suppress the price.
What will kill BitCoin?…the return of FAITH in currencies! You see the US has had a plan in the works for decades to return to our Constitutional form of money using physical gold and silver. YES coins – but YES ALSO to an electronic form of gold and silver coin that is 100% redeemable for metal at any bank. It will have the convenience of Bitcoin but will be “Legal Tender” and be both backed and redeemable in gold and silver coin.
How’s that for competition BitCoin?!
I know the BitCoin faithful won’t believe that such a competitive currency will EVER be implemented by the Fed or the US Gov’t but take a peak down the rabbit hole and you may change your mind.
The Hidden Meanings in the New $100 Bill
So for now, while I’m stocking up on stacks of silver, I’m also getting my hands on some Bitcoin and we’ll see if I can make the GREAT SHIFT from BitCoin to Physical Silver fast enough before the entire BitCoin Universe races to do the same thing. The “BitCoin-to-Silver Race” will be an event like no other!
Oh, and in the spirit of this BitCoin endorsement, I am now officially accepting BitCoin as payment for a 1 year Private Road Subscription. I have set the price at 0.5 BTC (1/2 a BitCoin) which is currently a bargain off the $199 annual subscription rate in Federal Reserve Notes. 1 Bitcoin is currently priced around $250 and has been gyrating all the way up as expected.
Yes…you will get a silver “BixCoin” when you subscribe or renew using any method on the Subscription page:
So for now…Go Bitcoin!…Ra! Ra! Ra!
May the Road you choose be the Right Road.