Bitcoin had been soaring in recent days on the anticipation of a ruling by the SEC on the listing of a bitcoin backed ETF. It jumped to $1279.00 in the last hour before the result was announced. Then moments later it was down to $1150.00 and later reached as low as $1060.00
The event today was an important ruling by the U.S. Securities and Exchange Commission (SEC) that rejected the proposed Winklevoss Bitcoin ETF [a trading exchange similar to Forex and the stock market]
The reason the ETF was not approved, according to the SEC, was because bitcoin is “too susceptible to fraud due to its unregulated nature.”
This is quite wry coming from the ultra-corrupt and anti-free market SEC. The market needs no regulation by an outside and violent entity (government) operating through the use of stolen funds (taxes) to manipulate, extort and attack people who do not pay enough bribes (political donations).
Bitcoin, in fact, is perfectly regulated the way it should be. By the blockchain itself. Bitcoin is 100% regulated by the blockchain which is a ledger system that is completely transparent, available to all, and unchangeable by any one entity.
In fact, “regulation” in and of itself is a tool used by branches of crime syndicates such as the SEC. Luckily, bitcoin cannot actually be regulated by the SEC, which makes it far more secure and less susceptible to manipulation and corruption.
Many in the bitcoin community were quite happy to hear that the SEC did not approve the ETF. Aside from not wanting the blessings of a corrupt, criminal entity they also said it limits the ability of some to manipulate the market, via shorting and other means that would be made easier via the ETF.
We now live in a very digital world. The largest population today is not China’s. It’s the internet. The largest economy in the world is not the United States. It’s the internet. The largest postal carrier is not the DHL, UPS or FEDEX. It’s the internet.
Bitcoin is internet’s money. It’s the defacto currency adopted by those on the internet. It has no state nor borders. No bank can control it. It’s not about “what country will adopt bitcoin first”. It’s about bitcoin not needing a country to exist.
That is what makes bitcoin so valuable. And, it is not going away anytime soon.
If you aren’t yet using Bitcoin, you are missing out on a very swift, easy and cheap way of transacting money. If you have not yet purchased any Bitcoin yet, you are missing on a massive earning potential. In the past year alone, the price of Bitcoin tripled, that’s 300% gain for those who had it already. In the coming year it will possibly reach around $2500-$3000 and then it will continue to rise due to its limited supply and ever increasing demand.
This is just a projection, but one that has been agreed and shared by almost every financial expert in the field. Make no mistake, Bitcoin is a must-have in any online entrepreneur’s portfolio. Don’t let it pass you by.