We already know that Bitcoin and crypto are decentralised by nature, which means the value can never be stable, and the value heavily depends upon supply and demand.
Lets look at the supply first. Many people today hold various crypto currencies, which all have a value against Bitcoin. This means the more coins there are in existence, the lower the value of bitcoin due to dilution.
That is the interesting part, you see we have 2 kinds of people working the crypto scene. We have the Gamblers or speculators, and we have the hardcore fanatics. Sounds promising doesn’t it? I’m sorry but this is where the problem lies, there is demand for crypto but that demand has almost been destroyed by exchange site owners who seem to believe they sell us something, when the reality is, we buy from other users of the exchange sites and allow the exchange to take a fee in order to cover their running costs.
Now in the eyes of the law, the fee’s are donations which makes the exchange’s charities. Who have no need to know their donors, if they did we would not have charity cash boxes on almost every single shop counter out there.
What these exchanges are doing is very naughty and deceptive to say the least. They expect us to hand over government issued Identification in order to use their platforms, which is not going down well amongst the community. In getting a government issued ID you are accepting all the retarded legislations of that government, which at least us Brits know can not be enforced due to our very own common law. But it goes even deeper, you see the powers that once were, now have the servers of the silk roads, alphabay, hansa, valhala and we also highly suspect that dreams have also been compromised.
It certainly appears that the exchanges are assisting the terrorists masquerading as government in linking wallet address’s to real people, and here lies the problem. How do you know you have not accepted a crypto transaction that has been sent by one of these sites?, how do you know you have never sent crypto to one of these sites? There are entirely too many angles to consider when it comes to what they are doing, but the most probable is linking wallet address’s to real people which could cause real people real problems when they become the subject of some investigation or other.
If you think losing a bank account is bad news, try being investigated for any kind of alleged criminality, We can say from observations that it is no walk in the park and it will cause you day to day problems. Along with opening you up to facing questioning, some of us like our privacy, and the fact that we are innocent until proven guilty.
There is it, that is their aim and the reason crypto was created for us, yes there is the agenda 21 call for digital currency element, but it is mostly to con us into accepting guilt until proven innocent which is an absurd impossibility. Innocence can not be proven, and here is the best example.
You go to jail for BBQ’ing your neighbours dog, and as the powers that once were believe you ate all the evidence, how do you prove your innocence from a jail cell? You simply can not prove your innocence, just like you can not prove you have not send to or received funds from an underground site.
Now here are some interesting statistics for you. One year ago we did not have all this forced KYC stupidity, and one of the biggest exchange sites constantly had more than 30,000 users online and active at any one time. Today however that very same site has less than 10,000 users online and active which being honest is unbelievable, it is more likely to be under 1000 users online and active, but they have to make things appear to be popular by manipulating the statistics.
Now we have discussed the problem lets look at possible solutions, we all want to see Bitcoin increase in value but how do we achieve this? Well unless we all trade with cash in person using newspaper adverts along with other platforms, which we all know is not viable at this time due to a heavy lack of adoption. So the only other option is to outlaw KYC, we need exchange sites to get rid of this KYC stupidity and guarantee it will never return. How do we effect this? we carry on as we are, refuse to hand over ID, stop using sites that demand ID, maybe even start legal proceedings against the exchanges who are employing extortion of your ID, and continue to be vocal about our dissatisfaction with the exchanges behaviour regarding ID.
We could also make use of decentralised exchanges such as BarterDex who will never attempt to extort us for ID, and with BarterDex you remain in control of your keys.
To conclude Is Bitcoin Dead we have to look at the bigger picture. Based on the statistics of one exchange alone we can see that there has been at least a two thirds drop in active traders and trading compared to that of just 12 months ago. Bitcoin is not currently dead, but it is fighting for its life though.