by Jeff Berwick, The Dollar Vigilante:

A few days ago, cryptocurrencies sold off quite dramatically.

Bitcoin fell around 25% on average and Ethereum fell around 15% on average across major exchanges.

And as a whole, the entire altcoins market capitalization fell over 20% excluding bitcoin.

At the same time we put out our article, “The US Government Clamps Down on Ability of Americans To Purchase Bitcoin”

This was enough to get every jealous bitcoin hater out of their basement and gleefully typing that “We were right, bitcoin is a scam! Looks it’s down a few hundred dollars!”

Like this guy.

On this chart I’ve noted the small dip where Green Machine and many others proclaimed victory that all cryptocurrencies had collapsed.

And then cryptocurrencies hit another new all-time high again today above $115 billion.

But the people who hate bitcoin have to make up their mind. They seem to hold two opposite beliefs. The definition of cognitive dissonance.

Many of them seem to believe that bitcoin will fail because government will outlaw it, like this guy.

Of course if any government outlaws bitcoin it will slow down its growth in that region controlled by that criminal group called government.

But, if you believe that to be the case then you must also believe gold and silver have the same risks. In fact, even bigger, because gold and silver are physical. And, it’s not like owning gold wasn’t illegal for four decades in the 20th century in the land of the free.

I’m not sure what the people making this argument are really trying to say.

To paraphrase them, “We are slaves and are so enslaved that our slave masters will make sure we have a hard time using bitcoin! Haha! LOLZ!”

If that’s what you really believe then why don’t you do something to get out of your bondage? Why just laugh at how enslaved you are? What kind of man sits in his basement in his underwear eating cheetos and just laughs at how enslaved he is but does nothing about it?

Not a real man is the answer, Ralph.

But, realistically, the chances of every government on Earth all outlawing bitcoin is pretty slim. It’s already been accepted and used by too many people. There’d be at least a minor uproar if the government came in with their guns and started kidnapping and extorting everyone involved in bitcoin.

And, if there was even ONE country that didn’t, that country would all of a sudden find itself receiving billions of dollars of investment into the country and thousands of very intelligent people would be moving there.

Perhaps this is why Theresa May, Angela Merkel and globalist Donald Trump all want to make “global rules” for the internet!

And this is not to mention that the more governments try to outlaw bitcoin the more the demand for bitcoin will likely increase as anyone who can still buy it will be running to get it before it is too late.

And, not to mention, it’s not very easy to track who actually owns bitcoin. If you are smart it is impossible. And there is no way to confiscate it without your keys. This is probably why Morgan Stanley recently said they want the “master keys” to bitcoin!

And, furthermore, many other altcoins like Dash and Monero are built with extreme privacy in mind. If they really manage to hamstring bitcoin then watch cryptos like Dash and Monero skyrocket in value… and there will be nothing the globalists can do.

So, all those expecting that big government will put its boot down on cryptocurrency don’t understand cryptocurrencies. It’s just math. There’s nowhere for the government boot to smash.

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