Tag: Bitcoin

Free-fall Collapse of Bitcoin an Engineered Swindle

Just how low will the financial manipulators crash Bitcoin after pushing it to $20,000? Posted on December 22, 2017 by State of the Nation Screenshot taken at 10:10 AM EST on Friday, December 22 when Bitcoin went as low as $11,465. Make no mistake about it, the engineered and ongoing crash of the crypto-currency Bitcoin was deliberately timed to begin in earnest just before the Christmas holiday.  And it has all gone down so soon after Bitcoin hit a record high of $20,000 on December 17th when the perps artificially inflated its price via high-frequency trading, futures manipulation, and...

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Cryptocurrency: Bitcoin, Ethereum, Litecoin and Blockchain

CRYPTOCURRENCY Bitcoin, Ethereum, Litecoin and the Blockchain Technology that Supports them. It’s a good day for someone who believes in cryptocurrencies.  Two of the top traded assets, Ethereum and Litecoin (LTC) spiked to records Tuesday breaking record levels as demand for cryptocurrencies reached a fever pitch while bitcoin, the most popular digital currency, took a breather.  LTC has been having a monster run over the past four days, climbing almost 150% from $100 on Friday to over $250 today. But lets put our chips on the table and ask how safe is it to invest in cryptocurrency.  Many have used...

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What Is Money? (Yes, We’re Talking About Bitcoin)

Posted on December 7, 2017 by Charles Hugh Smith WashingtonsBlog What is money? We all assume we know, because money is a commonplace feature of everyday life. Money is what we earn and exchange for goods and services. Everyone thinks the money they’re familiar with is the only possible system of money—until they run across an entirely different system of money. Then they realize money is a social construct, a confluence of social consensus and political force– what we agree to use as money, and what our government mandates we use as money under threat of punishment. We assume that our...

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Why Is Bitcoin a Big Deal?

WashingtonsBlog Posted on October 31, 2017 by Charles Hugh Smith Why is bitcoin considered such a big deal? Why has it grabbed so much mind-share, and why is it skyrocketing? And why is the cryptocurrency sector going bonkers? The short answer is that cryptocurrency is the first major innovation in money in 300+ years, back when central banks first emerged in the late 1600s as centralized clearing houses for international payments and sole issuers of national bank notes/currency. (Those who trace central banking to the Bank of Amsterdam’s founding in 1609 might say it’s the first major innovation in 400...

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Meet Charlie Lee, Inventor Of Litecoin Cryptocurrency By Leigh Cuen On 08/20/17 AT 7:00 AM If future generations buy their coffee with cryptocurrency, they will have globetrotting programmer Charlie Lee to thank for it. Lee was born in the Ivory Coast, West Africa, and immigrated to the United States at thirteen. He read a Wired article about the Silk Road black market back in 2011, when Lee was still a Google software engineer who dabbled in gold trading on the side. Intrigued, he immediately reached out to Bitcoin Core developer Mike Hearn and bought a bitcoin from Hearn. Soon Lee...

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