The only game in town is Cryptocurrency: But when will the final whistle blow?


Christine Lagarde called BTC "worthless". It’s also something the UK government is now calling, "property".


I have also heard people compare BTC to a commodity. But quite frankly, I cannot go with that either.


Whatever your view is on Bitcoin, and the World is awash with optimistic opinions, it has become a strange product whose future is unknown.


I am not trying to piss on everyone's cornflakes because the upside potential of BTC remains very attractive, but at some point, what is this all about. What are we trading, and what value does it have?


Look. I like BTC; the whole concept of BTC as a currency beyond the control of governments and central banks is genuinely inspirational. But where do people use BTC as a currency outside of a few novelty establishments? WE just do not use it like a currency, and so for me, that represents failure because the prime reason Nakamoto created BTC was for it to be a usable currency..


Players in BTC and a host of Altcoins have generated massive amounts of interest in crypto, and since the advent of Eth, the business has flourished beyond anyone's dreams.


There have been untold billions spent on developing the crypto industry, and there is no doubt that there is a big future for blockchain technology and De-Fi. But that doesn't mean certain cryptocurrencies, indeed, most cryptocurrencies, will have any value in the future. Furthermore, what measuring stick can we use to value this stuff?

The current scramble to buy BTC is because of the purchasing needs of an ETF operated by a multi-trillion-dollar company working hand-in-glove with every government in the World. While we opt to close our eyes to this because of the rampant value increases their purchases are causing, how can we be sure a political game is not ongoing, and at some point, these politicians will destroy any product that works in a decentralized manner?

Sure, we can go with the flow and enjoy the ride on the rocket, but we should keep sight that for a rocket to have value, it needs to have a destination. And no one making a loud noise about cryptocurrencies seems to know the destination.

We hear the same drum being banged daily about what is in the BTC white paper, i.e., it's a currency for the people to use that the authorities cannot manipulate. But, if we think about it, the whole industry is bending backwards to comply with government demands. And governments, such as the EU and the Chinese, will never relinquish their power over our financial capabilities.


It irks me no end that the governments of the World are acting in an increasingly authoritarian manner, And even though many talk about freedom and democracy, year after year, we see our freedoms curtailed. Moreover, our young, brainwashed generation now believes, rightly or wrongly, that their vote will never affect how the political elites will rule in the future.


I could go into a long monologue about the changes in our society and how we have lost our way, but that would be for a different day. But today's young people's aims and aspirations differ from those of past generations, which must cause future problems. Gone are the days when the aim was to build a business and create a wholesome family. And the idea of sacrificing today to make a better tomorrow is no longer considered virtuous.


Individuals' lack of long-term focus allows our governments to do whatever they want long-term. And in regards to BTC, young people are looking at what is happening today and cheering on anyone who can push the prices higher. Still, they need to realize that those pushing values higher are doing so to take control of the whole industry and, ultimately, the profits that those cheering have made.


Currently, the crypto industry is worth around 3 trillion dollars, and whilst this is a massive number to us, mere mortals, It is actually a drop in the ocean for those who control our nation's coffers.


We know most of our rules come from WEF or UN from diktats, whose objective is to create a world where the public "will own nothing but be happy!" Then, we should be more aware and alert to what is happening.


Most of us are totally against Central Bank Digital Currencies. However, our governments are spending billions investigating how to introduce them. Why? Because CBDC is good for those who want power.


Having power is all that matters to current global leadership, so if cryptocurrencies represent freedom for us, is it too much to believe these same leaders would not do whatever is necessary to control or destroy cryptocurrencies?

And who better to do the dirty deed than the Kings of ESG and DEI, Larry Fink's 10-trillion-dollar Black Rock Corporation?


Whatever many crypto fanatics believe, it is tough to say Black Rock came into the crypto space for any reason other than political.

The kids in crypto can look at institutional involvement in BTC with starry eyes if they wish, but that is not what the World wants or needs.


If BTC is going to be a success, we need to see mass interest from the global public. But how is the public going to become more involved if every spare coin is hovered up by institutions? (which is also causing whales and others not to sell their holdings).


I love young people's enthusiasm for these currencies and enjoy the rampantly bullish comments from small guys who own 10 or 15 Satoshi's, or perhaps a whole Eth. But institutional buying, albeit short- to medium-term bullish, is not good for the industry.

And if I am right about this, the long-term outlook for BTC should be considered by all of us as highly questionable.


My view is straightforward. If you want to buy BTC, put it in your wallet.

If you want to speculate in BTC, use futures, CFDs, or other traditional mediums suitable for speculators.

But if you invest in a Bitcoin ETF, all you are doing is supporting the aims of Governments and Central Bankers.


My argument will be ignored by those who have become blinkered by the amount of money they have already invested in cryptocurrencies, especially those making a good income from the crypto industry. But IMHO, by chasing short-term profits in crypto, we have sold control of the BTC to those people Bitcoin was created to defend us from.


As I see it, it is because most players do not view BTC like I do. It is still an excellent market to speculate in, and it remains a product extremely worthy of speculation. But, it does have a sell-by date, and we should keep sight of that, especially when values go ballistic or rocket, as many are forecasting.


Please do not mistake my long-term view of BitCoin for a short or medium-term bearish opinion. Indeed, I remain extremely positive concerning the value of cryptocurrencies and believe those investing in any of the top 20 cryptocurrencies will make money over the coming year or even longer.


However, as governments become more powerful and individuals lose their freedoms, decentralized blockchains and cryptocurrencies will see increasing efforts by those in power to destroy them.

Unlike a commodity, the whole reason behind the success of BTC is public confidence, as well as how easy it is to get involved. Many people will lose interest if crypto is too expensive or the government makes buying, selling, or exchanging cryptocurrencies difficult.


Over recent years, we have seen a massive drop in interest in NFTs and the Metaverse. These are now little more than games played and tokens exchanged in student dorms. To say this cannot happen to cryptocurrencies is hardly guaranteed.


To summarize.


Bitcoin was the most significant financial invention made in over a century.

However, it worked because it was beyond the control of governments and bankers.

As that is no longer the case, it doesn't matter what positive spin we put on this product or how loud we shout about its future; this future is far less bright and much more short term, than many today believe.

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