A WARNING TO THE FREEDOM LOVING BITCOIN COMMUNITY
We all see how giant hedge funds who once hated and ridiculed Bitcoin suddenly pretend to love it, and invest fortunes to buy it.
Why? Like you, I've always sensed a trap is being set.
After much thinking, I could not come up with anything, and then I appealed to God in Heaven and prayed. This is His inspiration, a WARNING to those who truly want Bitcoin to stand for Freedom and Personal Sovereignty:
Bitcoin, and by that I mean the decentralized medium of exchange, and store of value is now under a sophisticated attack that looks like good news, but it is not. This attack is headed by huge hedge-funds and corporations and is headed by Blackrock.
Let me explain at a high level how the attack is happening, and what will happen next if we don't stop it.
The attack on Bitcoin is a repeat of the pattern that happened when the US Dollar became first banned from being held by private individuals, and eventually was completely detached from Gold.
How did that start? First by capturing all the Gold by decree, President Franklin D. Roosevelt did that on on April 5, 1933 with Executive Order 6102. Next by severing completely the ability to convert US Dollar to Gold which happened in 1971 with Nixon.
What we are experiencing is a variation on that strategy.
We are entering phase 1, taking all the Bitcoin into custody of Financial Behemoths, and creating debt instruments to leverage it, pay margin to those that give their Bitcoin for custody, and financial engineering to use Bitcoin for profit, not for exchange. In all these cases the keys are held by financial institutions.
As this phase 1 grows fewer and fewer will hold Bitcoin, and instead of being decentralized it becomes captured.
Phase 1 includes the influence, or control of the developers behind Bitcoin Core by those huge hedge funds and financial institutions.
Phase 2 will be the eventual complete digitalization of Bitcoin, and a mandate that only centralized exchanges can approve its use.
We are on a trajectory to destroy Bitcoin's goal: decentralized finance, and economic power to the people.
The main way to stop this is to make Bitcoin useful as a medium of exchange again, and to make sure no political party ever endorses stronger AML controls, and laws against holding your Bitcoin yourself.
So every project that uses real Bitcoin for a medium of exchange, and decentralizes it can block this plan if it reaches critical mass, and wide adoption.