Today, of course, Bitcoin has fallen below $7,000 and continues its downward plunge. This reality has been utterly confusing to crypto enthusiasts who, like all other "bubble" followers, told themselves, "This time it's different."
Of course, it isn't different at all. It's the same tulip bulb mania repeated all over again in the age of cloud computing. When speculators believe they're "investors," and they think there's real value created by verbal hype, that's when you know things are headed off a cliff.
Even though Bitcoin is clearly an electricity-wasting Ponzi scheme built on zero real assets, some newbies are just now hearing about it, and they think they've discovered a perpetual motion get rich quick scheme that will allow them to acquire wealth without effort. (This is, of course, the key selling point among Bitcoin speculators, who have convinced themselves they're actually "shrewd investors.") In truth, they're just being suckered into a collapsing crypto-fairy tale that never panned out because it was based on bad economics in the first place. Remember when Bitcoin enthusiasts promised that Bitcoin transactions would be extremely low cost and almost instant? Yep, and Obama said if you like your doctor, you can keep your doctor, too. Both promises turned out to be utter nonsense.
Then again, if you disagree with this assessment, I am giving you a platform to voice your views. In about a month, I'm launching Brighteon.com, a free speech video platform that welcomes crypto enthusiasts and skeptics alike. There, you can debate the merits of cryptocurrency, post your favorite firearms videos, and even criticize pathetic snowflakes without getting banned by the "speech police" of Google / YouTube.
In fact, the video I'm posting today about Bitcoin is primarily just a demonstration of this principle. Although I believe Bitcoin is a collapsing crypto scam, other people think it's still just the opening chapter and that Bitcoin could skyrocket to over a million dollars a coin. Some people even think -- get this -- that Bitcoin is somehow better than owning physical gold. As much as I disagree with them, I agree with their right to speak, which is why I built Brighteon.com.
Check out my "7 Reasons" Bitcoin video below, and get ready to post your own at Brighteon.com. You can request a content channel right now. Account uploads are scheduled to go live before the end of this month, and public viewing of videos goes live in July (with some hand-selected videos launching July 4th).
Check out more videos at Counterthink.com.
Mike Adams (aka the "Health Ranger") is the founding editor of NaturalNews.com, a best selling author (#1 best selling science book on Amazon.com called "Food Forensics"), an environmental scientist, a patent holder for a cesium radioactive isotope elimination invention, a multiple award winner for outstanding journalism, a science news publisher and influential commentator on topics ranging from science and medicine to culture and politics.
Mike Adams also serves as the lab science director of an internationally accredited (ISO 17025) analytical laboratory known as CWC Labs. There, he was awarded a Certificate of Excellence for achieving extremely high accuracy in the analysis of toxic elements in unknown water samples using ICP-MS instrumentation.
In his laboratory research, Adams has made numerous food safety breakthroughs such as revealing rice protein products imported from Asia to be contaminated with toxic heavy metals like lead, cadmium and tungsten. Adams was the first food science researcher to document high levels of tungsten in superfoods. He also discovered over 11 ppm lead in imported mangosteen powder, and led an industry-wide voluntary agreement to limit heavy metals in rice protein products.
Adams has also helped defend the rights of home gardeners and protect the medical freedom rights of parents. Adams is widely recognized to have made a remarkable global impact on issues like GMOs, vaccines, nutrition therapies, human consciousness.