Posted on 03/22/2025 3:55:41 PM PDT by delta7
Mr. Armstrong, I just had to write in to say thank you for explaining that Bitcoin was just a trading asset, not some new currency that would replace the dollar. I understand that money must be elastic to grow with society in economic booms and population. I just read a quote reported by Bloomberg: “After four years of political purgatory, Bitcoin and the entire digital-asset ecosystem are on the brink of entering the financial mainstream.”
I know a programmer who said you were correct that the Deep State created blockchain. Has this recent rise been orchestrated to get us to surrender paper money and rejoice so they can track us all?
ANSWER: I participated in a documentary that will be released soon. There is no question that the blockchain code was developed in the intelligence community. We all know that in the programming world. In 1996, the US government released a white paper entitled “How to make a mint: the cryptography of anonymous electronic cash.” Released by the National Security Agency Office of Information Security Research and Technology, this document basically explains how a government agency could create something like Bitcoin or another cryptocurrency. (SEE BELOW).
Has Bitcoin been manipulated more to make people think digital currencies are better than paper? There is a strong probability of that. This is clearly a dream of tyrants. If I give you $100 bill they do not know where I got it from. If I pay you in Bitcoin, they can trace it to everyone who has ever handled it. This is a control system. This is the END OF MONEY! A new documentary film will be coming out soon on this topic.
Here is Lagarde on digital currency. She states this object is “control” everything you do. Europe is a Marxist Paradise. Everyone is an economic slave and whatever they earn belongs to the state – not them. The state will decide how much you are allowed to keep. I really do not understand these Bitcoin people if they deliberately try to convince us to surrender all liberty. With digital currency, they can block even a donation to a political opponent like Trump.
Even when creating the Euro, the commission took the entire back row of our conference held in London in 1997. I do not understand why it is so hard to comprehend what a currency is – but then again, some have trouble defining a woman. They were selling the Euro, which would defeat the dollar. That, too, never took place. They were preaching that everyone would pay the same interest rate as in the USA. I warned them that would only take place if they consolidated all the debts as Hamilton did following the American Revolution.
Kohl took Germany into the Euro as a dictator because if the German people were allowed to vote, he admitted he would have lost 7 to 3. We do not live in a democracy. That is sheer propaganda. They make the decisions, and when they know the people will not accept that, even like war, they do it anyway. We mean nothing at the end of the day.
They sold Bitcoin as it would be free of central banks, a store of wealth, and eliminate inflation, all absolute total BS that was impossible in the real world. I have warned that this has been a fantastic sales job, and pushing the price up creates the image that it is somehow worth more than paper money, so surrender everything and go digital.
People have been braindead when it comes to comprehending what money is and love to cling to stupid theories that will only lead to a major depression. They do not even understand that because the Fed was fearful of inflation during the Great Depression, to support the dollar, they failed to expand the money supply, fearing that the dollar would crash.
Over 200 cities issued their own money because there was such a shortage of cash that businesses could not function. It was impossible to pay employees, and people had no cash to spend. This was called depression script…..
……. Bitcoin is a trading vehicle as people buy into the propaganda. In the end, the truth always prevails.
Just do not expect it to become the reserve currency or stop inflation singlehandedly.
It’s a trading vehicle because people will buy because of the propaganda – just keep it real.
In 1996, the US government released a white paper entitled, “How to make a mint: the cryptography of anonymous electronic cash.” Released by the National Security Agency Office of Information Security Research and Technology, this document basically explains how a government agency could create something like Bitcoin or another cryptocurrency.
I encourage those interested to read the contents of the link above. This document was released during the dawn of the dot.com bubble before the technology existed to create such a currency. The NSA quickly realized that it could weaponize this technology to create a cashless society.
As explained in the introduction:…..
……. The US government released this document in 1996, 27 years ago. Bitcoin was allegedly anonymously created in 2009, and numerous other blockchain-based payment coins have followed. This, paired with the push for CBDC, where the government simply does not need to pretend payments are anonymous, should make one question the security and longevity of cryptocurrencies.
https://groups.csail.mit.edu/mac/classes/6.805/articles/money/nsamint/nsamint.htm
IBTG
The Bitcoin fans are getting angry…..
More looting?
Mr. Armstrong,
A few years back my wife was going to buy a bitcoin but following your advice I talked her out it. She divorced me and took half my pension so now I work as a Walmart greeter.
Aren’t we most of the way there to a cashless society, regardless of bitcoin?
Every time you use a debit card, credit card, or write a check, the transaction is traceable somewhere.
My understanding is at the vast majority of transactions are not using actual currency or coins.
So even if we’re not cashless, at least not yet, many of our transactions are in a database somewhere. Or can be pulled together to create a financial dossier on all of us .
A lot of definitive statements.
Tell me how AI has “hacked” the bitcoin blockchain.
Tell me how 95% of all dollar denominated transactions are not dependent on the grid.
If you don’t want to buy into the whole Bitcoin thing, thats fine. But using definitive false statements or misleading ones at best, is simply disingenuous.
This guy spouts a lot of gibberish. Satoshi was demonstrably at the other end of the spectrum (a full bore libertarian and anti-statist cypherpunk). The whole point of bitcoin was to provide an alternative to government fiat currency, which it is doing.
You are correct. You don’t “hack” a blockchain. I suppose you could break one if you setup enough servers to get to 50.1% of provenance. Or maybe not. What do I know. More than Armstrong at least.
1. Bitcoin provides anonymity so long as a link between your public keys and your real-world identity is not established. By contrast all electronic fiat transactions (which is about 95% of all fiat transactions) are tracked and recorded by central authorities (banks, credit card agencies and governments, etc.). Moreover, fully anonymous cryptocurrencies like monero provide heightened anonymity for those who seek it.
2. "most definitely vulnerable to a host of elements" - such as? The greatest vulnerability are the centralized exchanges that are gateways between the old fiat world and the crypto space. Once you are in the crypto space and move your funds to your own wallet you are not exposed to the thefts/hacks that CEX's are subject to. Note that those vulnerabilities are precisely the same as banks and other traditional fiat institutions are vulnerable to. Once in the crypto space you can rely on decentralized exchanges (DEX's) that never have custody of your funds and are thus much less of a vulnerability. The fiat world has nothing to match this, even in principle.
3. " especially hacking as our supercomputers can “ crack the code” with the help of AI." This is just gibberish. The value of bitcoin would go to 0 five minutes after such a hack or even if it was a realistic fear. Instead it has gone from 0 to ~$84,000/bitcoin precisely because it is so secure.
Or even if you use cash, but use a store discount card/ membership card. Or if they scan your driver’s license like they now do in my state for a liquor purchase.
Good thing I’m not an alcoholic, because I don’t buy any booze anymore due to the intrusion.
I am not opposed to Bitcoin or all the other electronic currencies, ( there are other more “ successful “ E currencies” out there)and If people want to spend their USD’s on thin air, fine with me.
The concept of electrons on a screen being “money”, is laughable. It can never be money, nothing more than a speculative instrument. The older and wiser simply aren’t buying into it.
“This guy spouts a lot of gibberish.”
How dare you challenge the legendary Mr. Armstrong. You must not be aware that he was the only one that predicted the US civil war that began in January 2025.
Money is a medium of exchange. No more no less. It can take many forms. Bit-whatever is just the latest.
The government is not going to give up its monopoly over money. No government ever has and never will. Coinage is too profitable.
The fact that it’s digital and new and supposedly “mysterious” doesn’t make it invincible or inevitable.
As Buffet said it’s logical value $O.
The value of bitcoin would go to 0 five minutes after such a hack.
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Never say never.
And here is dinosaur me telling people to go to their ATM, take out $100, $200, $500, and USE it!
Do your part to keep the anonymity of cash alive.
They need to get rid of the cash to get ready for the mark of the beast.
“The concept of electrons on a screen being “money”, is laughable. It can never be money, nothing more than a speculative instrument. “
Does that mean that I checked my bank account online I really have no money in the account?
Money is a medium of exchange. No more no less. It can take many forms.
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True, Just ask the Dutch how their Tulip bulbs worked out. At least they had a few pretty flowers left after they lost everything.
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