Dr. Doom’ economist Nouriel Roubini trashes Bitcoin for being heavily manipulated — and blames retail investor FOMO for its recent pump-and-dump – Nouriel Roubini is an economist who can’t see Bitcoin’s value yet – He is caught in the old paradigm; a corrupt dinosaur system. Bitcoin is the pinnacle of sound economics. If you have an economics degree & you don’t own Bitcoin yet, you must still be massively brainwashed by the government, media & legacy financial system as a whole. Side-by-side to fiat & on an logical level, Bitcoin makes the world of sense to me & millions of others. If I was a betting man, I’d say the number of Bitcoiners will only continue to rise – recent trends are indicative of this.
Bitcoin is a global free market that operates with no downtime. Traditional markets operate within business hours & as we saw at the start of the year, can be switched off by a small group of people when they’re worried the market is tanking too hard. Bitcoin trading cannot be censored & it cannot be stopped. Bitcoin is highly volatile because it’s a relatively small market compared to the traditional system; a billionaire market-buying $100m worth can easily cause $1000 green candles. As it grows & matures, Bitcoin will only become more stable. As more people see it’s value, less & less people will want to sell it. I think it will get to a point where you won’t be able to buy it, you’ll have to earn it.
The traditional financial system; specifically central banks, are the biggest market manipulators in the world. Quantitative Easing – they buy assets (stocks, government/corporate bonds, mortgage backed securities etc.) to prop up the economy to create a false sense of economic confidence. This only further concentrates the wealth to 1%. It is merely just another massive hidden tax. As Jeff Booth says in The Price of Tomorrow – “They’re just re-arranging the deck chairs on the Titanic”. When you buy Bitcoin, you say NO to money printing in so many forms. You jump a sinking sink & board a life raft.
Central banks create the true manipulation – price discovery has gone out the window. There’s no free market, just monopolies. The cost of money have been lost, there’s no value, only deception. The majority of people have no idea how much they’re getting thieved – it’s easily the biggest scam of the century. Historians will look back in a hundred years in disbelief. In the future, many will just take Bitcoin for granted.
With a scarce supply of 21m coins, you cannot print more Bitcoin. When a Bitcoin whale dumps (& everyone screams manipulation) they risk losing their stash to a bigger whale ready to scoop them up – there’s a game theory & economic incentive to not sell. I think some of these whales are just cocky, their shorts will get liquidated at some point – it’s pure gambling. Bitcoin is a zero sum game & a moon mission is inevitable, there’s thin air above 20k. Once it breaks, we may never look back.
Subscribe to future posts & claim 1000 FREE sats – www.bitcoin2009.com
If you’d like to donate: