According to the UK’s finest propaganda machine, the BBC, Andrew Bailey, head of the Financial Conduct Authority has warned investors of Bitcoin that they should expect to ‘Loose all their money’. Why you may ask?
Well it seems Mr Bailey is doubtful of Bitcoin because ‘neither central banks nor the government stood behind the “currency” and therefore it was not a secure investment.’
As we all know, the central banks and Governments are the most trusted institutions known to mankind, they have never committed fraud, they have never intentionally crashed entire economies, inflated entire economies or committed war crimes at a genocidal level for the purpose of more power and thus wealth.
How Andrew Bailey can spit out this nonsense while holding a straight face is quite something. The very reasons he gives for being wary of Bitcoin are the very reasons Bitcoin is eating up the Fiat currencies all around the World. Decentralized and secure, no Government, no Banks – just you and your wealth.
As Barack Obama put it, Bitcoin is like allowing everyone to have a Swiss Bank account in their pocket – he was right it is, only it’s far better than that!
But wait for it, here is the best part of this ridiculous article from the BBC:
If the price falls rapidly then many investors could be left with big losses, particularly as it can take as long as 15 minutes to execute a sale……
In my experience, unless you’re putting in a limit order in above the highest buy order sales are instantaneous, Bitcoin has been pretty liquid in this respect for sometime. Such comments are to put it frankly, lies or a reflection of the writer’s understanding of Bitcoin (very little).
Governments and Banks HATE Bitcoin
As is to be expected, the big banks and Governments do not like Bitcoin, it is a problem they hoped would go away, they have been hoping it would go away for years. However, regardless of Bitcoins multiple deaths over the years, as reported by the Mainstream media, Bitcoin lives on and is stronger than ever.
They cannot ignore it any longer and whether we like it or not, they will try to crush it – watching them try should be interesting and extremely entertaining to see!