03-10-2013, 02:14 PM
Bitcoin Is Here To Stay
Reads: 1,806|Likes: 2Published by Bitcoin Sachs
After today's attack on the Bitcoin community via the raid of The Silk Road, we have become stronger, more powerful, and should command more investor respect.
Bitcoin Is Here To Stay
Investors, traders, and users of bitcoin should be thrilled to death with the FBI's raid of the SilkRoad. They should rejoice and celebrate this monumental victory. For a brief moment, everyoneheld their breath and it led to a quick sell off then a triumphant recovery. The message should bevery clear by now. Bitcoin isn't going anywhere.The FBI and the DOJ have now taken two serious swipes at Bitcoin now. First, the attacked Mt.Gox via Dwolla money freeze which I accurately predicted days before it happened. All that didwas give rise to alternative exchanges and it ultimately grew the community. Today, the FBI tookdown The Silk Road which is the underworld for all things illegal to buy and sell. The arrestedthe founder and operator who will be looking at decades in prison.Each time, the price of Bitcoin quickly dipped. Each time this happened, the dip has becomeincreasingly less. When I reported the Mt. Gox raid, they price roughly halved itself. This time itlost less than a quarter of it's value. People in the community are becoming more sure-handed.The confidence should be beaming right now.Investors should be excited. They should be thrilled to death to be honest. Right now, the onlyreal knock on Bitcoin was it's illegal use implication which has shadowed it from it's infancy. Thepopular theory was that Bitcoin was only being used illegally. That only criminals wanted to useit. That banks didn't want to deal with it for this reason. Look at what just happened. The busiestof all illegal marketplaces was shut down and it created a mere blip in the ultimate storyline for Bitcoin. It's great that Silk Road was shut down. This will allow more people to invest withconfidence. The currency will remain intact. These shut downs won't end it. People won't trulypanic. The price isn't going to completely tank without recovery.This is a day the FBI and DOJ should mark down on the calendar and remember forever. Theharder you hit something you don't understand, the worse you're going to make it. Basically, allthey did to bitcoin was make it ultimately more valuable, encourage growth, investors to take onnew projects, and divided up Silk Road's business onto dozens of new players who will fill thevacuum left behind. They learned nothing from piracy, obviously.The Bitcoin community owes a thank you to the US Government for strengthening thecommunity. A debt of gratitude no doubt. On this news, the price of Bitcoin should spring boardto $300. We are now legitimate. We now no longer have The Silk Road hanging over us. Wesurvived two serious attacks on the currency. We survived both, and here we are thriving. Let'sface it, we have built a community that can withstand anything.Today is a day to celebrate. Today is a day to buy. Today is a day to mark on our calendars. Weare more than illegally operations. We are more than drugs. We are more than counter-culture.We have the focus on the FBI and the DOJ yet here we stand. Tomorrow we will have newproblems to solve, and a journey to take. That will be to new heights, new investments, and newstartups.
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"The philosophers have only interpreted the world, in various ways. The point, however, is to change it." Karl Marx
"He would, wouldn't he?" Mandy Rice-Davies. When asked in court whether she knew that Lord Astor had denied having sex with her.
“I think it would be a good idea” Ghandi, when asked about Western Civilisation.
"He would, wouldn't he?" Mandy Rice-Davies. When asked in court whether she knew that Lord Astor had denied having sex with her.
“I think it would be a good idea” Ghandi, when asked about Western Civilisation.