Bitcoin uses peer-to-peer technology to operate, with no central authority, or banks, managing transactions and the issuing of Bitcoin is carried out collectively by the network .
Bitcoin is open-source, its design is public, nobody owns or controls Bitcoin and everyone can take part.
Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.
It’s an innovative payment network, and a new kind of money, which has the power to release people from the shackles of the banks, the financial institutions and the insidious web of consensus thinking that oppresses them.
It’s predicted that a third of all millennials will be invested in Bitcoin in 2018.
A Ponzi Scheme is a fraudulent investment operation where the operator generates returns for older investors, through revenue paid by new investors, rather than from legitimate business activities or profits of financial trading.
Fiat Currencies are those backed by regulation or law. They are not backed by anything tangible and depend entirely on consumer confidence and the belief of the people that their Government, or Central Bank, has the financial strength to back up their promises.
Bitcoin is definitely not one of them, nobody owns or controls Bitcoin and everyone can take part, although it too is not backed by anything else remotely tangible.
How can it possibly be, that we now have a Bitcoin Futures market?
There is no direct link at all between the Bitcoin market and the Bitcoin futures market!
Speculative bets, denominated in dollars, that will never be settled in Bitcoin, are now the reason that we should be concerned about the price of Bitcoin!
This is not even a real futures market, as no contract will ever be fulfilled, or settled, in the actual currency or commodity, Bitcoin, that is the subject of the contract.
So, the danger isn’t Bitcoin, or any of the people who use Bitcoin. The danger is the speculators and the futures traders, making enormous long and short term bets on what will happen to the Bitcoin price, in the months to come.
They’ll soon be doing it again, betting billions every day on whether Bitcoin’s price will go up or down, and how much they will try to manipulate the Bitcoin market to make sure they win.
Listen to Andrew Maguire – Whistleblower, Independent London Metals Trader and Analyst.
The risk, as it has been for decades, is in the derivatives markets, not Bitcoin.