Bitcoin price is extending below target as the idiocy of Gav&MikeCoin becomes apparent. Not only is Gav a limited capacity coder, but Mike has run away – leaving bright-spark Brian “Buzz” Armstrong to fend for his Silicon Valley Bank licence alone. It’s all going to end in tears.
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Bitstamp 4-Hour Chart
From the analysis pages of xbt.social, earlier today:
Sorry to say it, but Gavin Andresen is not a naturally endowed clever guy – you can look in his eyes and see that. A self-described “grumpy-old-man” he only wants to see Bitcoin compete with Visa and aquiesce to the current financial system in order for him to feel that Bitcoin has achieved status as an alternative money. Mike Hearn had managed to erode privacy wherever he engaged in the Open Source world since his late arrival in 2011. All in the name of “maximum adoption” of Bitcoin.
However, as any intelligent reader knows,the rabbit-hole goes deeper than that. By using Bitcoin and particpating in its existence every user is bringing forward the date of the end of central banking. The Fed, the ECB, the Central Bank of Timbuktu – no need to fool yourself – they will all implode as users prefer Bitcoin transactions over some centralized fiat hokus-pokus that lacks accountability.
Gold, too, will lose all meaning – being a favorite yardstick of “intrinsic value” of the banking clan – and controlled by it to the last ounce.
What to do? Spread your holdings 50:50 between the King of Cash, the US dollar and a short on Bitcoin. Be ready to buy Bitcoin when the Andresen clan […]
