Best of the Week
Most Popular
1. Five Charts That Show We Are on the Brink of an Unthinkable Financial Crisis- John_Mauldin
2.Bitcoin Parabolic Mania - Zeal_LLC
3.Bitcoin Doesn’t Exist – 2 - Raul_I_Meijer
4.Best Time / Month of Year to BUY a USED Car is DECEMBER, UK Analysis - Nadeem_Walayat
5.Labour Sheffield City Council Election Panic Could Prompt Suspension of Tree Felling's Private Security - N_Walayat
6.War on Gold Intensifies: It Betrays the Elitists’ Panic and Augurs Their Coming Defeat Part2 - Stewart_Dougherty
7.How High Will Gold Go? - Harry_Dent
8.Bitcoin Doesn’t Exist – Forks and Mad Max - Raul_I_Meijer
9.UK Stagflation Risk As Inflation Hits 3.1% and House Prices Fall - GoldCore
10.New EU Rules For Cross-Border Cash, Gold Bullion Movements - GoldCore
Last 7 days
Bitcoin Crash Sees Flight To Physical Gold Coins and Bars - 18th Jan 18
The Interest Rates Are What Matter In This Market - 18th Jan 18
Crude Oil Sweat, Blood and Tears - 18th Jan 18
Land Rover Discovery Sport - Week 3 HSE Black Test Review - 18th Jan 18
The North Korea Quagmire: Part 1, A Contest of Colonialism and Communism - 18th Jan 18
Understand Currency Trade and Make Plenty of Money - 18th Jan 18
Bitcoin Price Crash Below $10,000. What's Next? We have answers… - 18th Jan 18
How to Trade Gold During Second Half of January, Daily Cycle Prediction - 18th Jan 18
More U.S. States Are Knocking Down Gold & Silver Barriers - 18th Jan 18
5 Economic Predictions for 2018 - 18th Jan 18
Land Rover Discovery Sport - What You Need to Know Before Buying - Owning Week 2 - 17th Jan 18
Bitcoin and Stock Prices, Both Symptoms of Speculative Extremes! - 17th Jan 18
So That’s What Stock Market Volatility Looks Like - 17th Jan 18
Tips On Choosing the Right Forex Dealer - 17th Jan 18
Crude Oil is Starting 2018 Strong but there's Undeniable Risk to the Downside - 16th Jan 18
SPX, NDX, INDU and RUT Stock Indices all at Resistance Levels - 16th Jan 18
Silver Prices To Surge – JP Morgan Has Acquired A “Massive Quantity of Physical Silver” - 16th Jan 18
Carillion Bankruptcy and the PFI Sector Spiraling Costs Crisis, Amey, G4S, Balfour Beatty, Serco.... - 16th Jan 18
Artificial Intelligence - Extermination of Humanity - 16th Jan 18
Carillion Goes Bust, as Government Refuses to Bailout PFI Contractors Debt and Pensions Liabilities - 15th Jan 18
What Really Happens in Iran?  - 15th Jan 18
Stock Market Near an Intermediate Top? - 15th Jan 18
The Key Economic Indicator You Should Watch in 2018 - 15th Jan 18
London Property Market Crash Looms As Prices Drop To 2 1/2 Year Low - 15th Jan 18
Some Fascinating Stock Market Fibonacci Relationships... - 15th Jan 18
How to Know If This Stock Market Rally Will Continue for Two More Months? - 14th Jan 18
Everything SMIGGLE from Pencil Cases to Water Bottles, Pens and Springs! - 14th Jan 18
Land Rover Discovery Sport Very Bad MPG Fuel Economy! Real Owner's Review - 14th Jan 18
Gold Miners’ Status Updated - 13th Jan 18
Gold And Silver – Review of Annual, Qrtly, Monthly, Weekly Charts. Reality v Sentiment - 13th Jan 18
Gold GLD ETF Update.. Bear Market Reversal Watch - 13th Jan 18
Stock Market Leadership In 2018 To Come From Oil & Gas - 13th Jan 18
Stock Market Primed for a Reversal - 13th Jan 18
Live Trading Webinar: Discover 3 High-Confidence Trade Set-Ups - 13th Jan 18
Optimum Entry Point for Gold and Silver Stocks - 12th Jan 18
Stock Selloffs Great for Gold - 12th Jan 18
These 3 Facts Show Gold Is Set to Surge in 2018 - 12th Jan 18
How China is Locking Up Critical Resources in the US’s Own Backyard - 12th Jan 18
Stock futures are struggling. May reverse Today - 12th Jan 18
Three Surprising Places You See Cryptocurrency - 12th Jan 18
Semi Seconductor Stocks Canary Still Chirping, But He’s Gonna Croak in 2018 - 12th Jan 18
Land Rover Discovery Sport Panoramic Sunroof Questions Answered - 12th Jan 18
Information About Trading With Alpari And Its Advantages - 12th Jan 18
Stock Market Investing 2018 - “I Hope I’m Making a Bad Buy” - 11th Jan 18
S&P 500 Fluctuates As Stock Market May Be Topping, Or Not? - 11th Jan 18
SPECTRE Microprocessor Security Flaw - Big Brother = You - 11th Jan 18
7 Market Forecasts 2018 from the Brightest Financial Minds I Know - 11th Jan 18
It’s Not Enough to Be Contrarian - 11th Jan 18
Stocks That Take One for A Roller Coaster Ride Through the Thick And Thin Of Every Single Investment Made - 11th Jan 18
Police Arrest Tree Protester on Meersbrook Park Road, Sheffield - 10th Jan 18
Stock Market Aggressive Sell Signals - 10th Jan 18
The 2018 Decline in Precious Metals - 10th Jan 18
Gold Hits All-Time Highs Priced In Emerging Market Currencies - 10th Jan 18
TMV : 3X Leveraged Short on US Treasury Bonds - 10th Jan 18
Here are the Key Levels in Gold & Gold Miners - 10th Jan 18

Market Oracle FREE Newsletter

6 Critical Money Making Rules

Bitcoin Hits $6,000, $100 Billion Market Cap As Helicopter Ben and Jamie Demon Warn The End Is Near!

Currencies / Bitcoin Oct 22, 2017 - 10:46 AM GMT

By: Jeff_Berwick

Currencies

Bitcoin rose more than 6% today to surpass, for the first time ever, the $6,000 US mark.

More interestingly, bitcoin just surpassed $100 billion in total market capitalization. Or, as Coindesk puts it, $0.1 trillion.


Yes, we are now quantifying bitcoin in the trillions.

When we start talking in the trillions we are beginning to talk about a shift in the financial and monetary system.

And, as I pointed out recently, bitcoin is still but a glimmer in the all-seeing eye, so to speak, of the overall monetary picture.

If bitcoin is truly on its way (and it’ll still be years if so) to becoming a widely used currency, then its upside is still massive.

And, while one of bitcoin’s most valuable assets is its hard cap limit of 21 million bitcoins that will ever be created (but that are divisible to the eighth decimal meaning it still has the ability to be used in the smallest of transactions) the fact of the matter is that bitcoin has been in a state of hyperinflation over the first eight years of its short lifespan.

In order to disseminate bitcoin widely it needed to issue a large amount of bitcoin over a short amount of time meaning the total money supply has increased massively in those eight years.

From the perspective of the very first satoshi that was ever mined the money supply growth has been exponential to the N’th degree.

But, as you can see, that inflation curve is now entering into the leveling off period meaning that the supply of new bitcoin will continue to be less and less as a percentage of the total.

And, demand for bitcoin has been growing dramatically… and with only about 18 million bitcoin wallets in existence, even if each of those wallets were owned by a single individual (which they aren’t as I personally have dozens of different wallets) it would mean that 0.2% of the world’s population currently owns bitcoin.

Supply is reducing dramatically while demand is and should be increasing dramatically.

What happens when that happens? Even the most economically brain dead person, like Paul Krugman, should know it means the price will have to rise.

Will it continue to rise in the short term? That’s anyone’s guess.

And, The Powers That Shouldn’t Be, will do anything they can to stop it… because if they lose control of the money system they lose control of everything.

Initial Coin Offerings (ICOs) now do more in dollar value than Wall Street’s IPOs! That’s why Jamie Demon can’t stop trying to talk bitcoin down and has hinted that the government will try to kill bitcoin and that it will “end badly.”

And, just recently, Helicopter Ben Bernanke who seriously had a plan at one point to drop Federal Reserve Notes from helicopters to “help” the economy, was speaking at a Ripple conference in Toronto. When he was asked about bitcoin competing with the US dollar he replied, “Eventually governments will take any action they need to prevent that.”

And, I have no doubt they will. It will be incredibly interesting times ahead.

The war has just begun.

Make sure you have a front row seat by subscribing to The Dollar Vigilante newsletter (subscribe here) where we cover every facet of this evolution.

Here was a recent comment from a subscriber on how much they enjoyed our coverage of the upcoming bitcoin Segwit2x fork:

And, if you still don’t own any bitcoin, check out my free four-video webinar (HERE) where I offer to send you your first $50 in bitcoin when you subscribe to our newsletter.

We began that promotion months ago when bitcoin was around $1,500… so, those people who accepted the offer at the time now received the equivalent of $200 in bitcoin, essentially getting our newsletter for free.

Stick with us here at The Dollar Vigilante where we stand at the front lines of this evolution in money and banking.

Anarcho-Capitalist.  Libertarian.  Freedom fighter against mankind’s two biggest enemies, the State and the Central Banks.  Jeff Berwick is the founder of The Dollar Vigilante, CEO of TDV Media & Services and host of the popular video podcast, Anarchast.  Jeff is a prominent speaker at many of the world’s freedom, investment and gold conferences as well as regularly in the media.

© 2017 Copyright Jeff Berwick - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Jeff Berwick Archive

© 2005-2018 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules