Sovereign Man agrees with the Health Ranger: Bitcoin has become a “tulip bulb mania” speculative bubble… and all bubbles end badly
by: Ethan Huff
NaturalNews.comThursday, June 08, 2017
Everyone is jumping on the Bitcoin bandwagon these days as the popular cryptocurrency continues to soar in perceived value relative to the dollar. But the Bitcoin bubble could be in the final stages of inflation, warns Simon Black of Sovereign Man, meaning this bubble could burst at any moment once the mad rush of speculation ends, leaving uninformed investors with nothing to show for themselves.
The concept behind Bitcoin and what it’s meant to do all make plenty of sense. For one, there’s a limited number of Bitcoin in existence, which means it can’t be endlessly printed like Federal Reserve Note fiat currency, and thus will maintain some kind of fixed value. It’s also transparent in the sense that it’s tied to a blockchain, which serves as a digital ledger of all transactions that are made using it.
By and large, Bitcoin has the potential to function far better than what we commonly think of as money because it can’t be manipulated by private elite bankers and truly embodies a decentralized medium of exchange. But the problem right now is that many people are buying and selling Bitcoin not to necessarily use it for its intended purpose, but rather to try to get rich off of it. Because of this, the value of Bitcoin is extremely volatile and unpredictable.
Our own Mike Adams warned about this in a recent article about the so-called Bitcoin “endgame.” Even though Bitcoin seems to be increasing in value with no end in sight, there are certain mathematical limitations to its growth that, if you don’t know what you’re doing with it, could catch you with your pants down.
Bitcoin is a lot like tulip mania, which was only fun while it lasted
The Rest…HERE
