Samuel Bankman-Fried was born in 1992 on the campus of Stanford University to an upper-middle-class Jewish family from California. He made a smooth career in the investment world as a kind of miracle man who brought in a lot of money to eventually found the FTX Bitcoin trading platform after 6 years from the beginning of his career. It is, in the words of George Carlin, yet another American dream "You have to be asleep to believe it, that's why it's called a dream.
Bankman finally fried Bitcoin on "blood moon" Nov. 8 last year when its capital plunged 94% in one day, according to Bloomberg. On Nov. 11, FTX filed for bankruptcy. Everyone knows what happened to the Bitcoin exchange rate after that. That rate plummeted even further than it had over the past year, toward sixteen thousand dollars for a Bitcoin. On Nov. 11, 2022, the Bloomberg Billionaires Index ruled that Bankman-Fried had no material wealth left.
Before Bankman-Fried's wealth dwindled in November 2022, Bankman-Fried was a major donor to the Democratic Party and many left-wing political causes. He was Joe Biden's second-largest individual donor in the 2020 election cycle, personally donating $5.2 million and donating $40 million to the Democratic Party during the 2022 U.S. midterm elections.
So Bankman-Fried seems to have played an important role in frying Bitcoin for the benefit of the CBDC (Central Bank Digital Currency) that the elite are so eager to introduce. Not that the Bitcoin was the salvation for humanity, because the same thing applies to both Bitcoin and the CBDC: they are 100% traceable and thus governments can monitor every microtransaction up to million-dollar transactions in both cases. Both digital currencies are easily linked to tax collection and social credits, only the Bitcoin is a decentralized solution, while the CBDC is centrally regulated from central banks.
Does this mean the end of Bitcoin? Well, Bankman-Fried has put a big dent in confidence in Bitcoin. But you always have the semblance of salvation to launch through that other pawn of power: Elon Musk. Who has just bought Twitter and he wants to turn it into a sort of Chinese Wechat app, where you can also pay with your app. The Bankman-Fried action of (seemingly deliberately) undercutting the FTX Bitcoin trading platform, is a fine way to help push the CBDC, but was also a shock test for Bitcoin. It stumbled a bit, but did not fall.
What could be better if you could drive those people in society who don't want to embrace the CBDC toward Bitcoin via the saving angel Elon Musk and then still catch them in a Wechat-like social credit system? So Bitcoin is bound to stay afloat and it shouldn't be surprising if Elon Musk is going to lend a helping hand by setting up his own trading platform and linking it to Twitter. Signs in that direction? Yes, these tweets for example, showing that Elon Musk is giving the impression that we are dealing with a conspiracy from on high:
Salient detail: In September 2022, it was announced that Bankman-Fried Elon Musk had offered billions of dollars to finance his purchase of Twitter. According to reports released as part of the lawsuit between Twitter and Musk during the latter's proposed acquisition of Twitter, investment banker Michael Grimes (related to Musk's ex Grimes?) wrote on April 25, 2022 that Bankman-Fried would be willing to invest up to $5 billion. From that, Musk could say that it may have been an attempt by Democratic pawn Sam Bankman-Fried to infiltrate his plans with Twitter.
So we see everything being put in position where the masses are offered two sides of the same coin: the mainstream side of the CBDC and social credits and the controlled opposition side of Bitcoin coupled with a kind of Wechat (Twitter after Musk's transformation). Both roads lead to Rome and provide the ideal means of control of power.
If the dollar crashes, Bitcoin can still go peak-rising, provided Elon Musk acts as the savior of Bitcoin humanity in a timely manner. Indeed, the flight to Bitcoin is the fastest escape route for savings and bank deposits if the dollar collapses. The CBDC is still unknown and in pilot in most countries. Putting your money away to the CBDC is not something you do at the click of a button; to Bitcoin is. So that prediction of a crashing dollar and peak-rising Bitcoin (made here on Dec. 30, 2021) could still come true and very soon. Not that it matters very much, because much bigger things are about to happen, and that flight to Bitcoin is only for the benefit of power.
Link entries: wikipedia.org, yahoo.com, zerohedge.com, businessinsider.com
14 Comments
Sorry Martin,
This is where you completely miss the mark. Bitcoin on FTX were derivatives. Also what Musk is going to do with bitcoin will be derivatives. Bitcoin is by design not suitable for currency trading and that is fine.
Answer:
Yes, I understand that, but the issue is that in the media the image of crypto currencies and thus Bitcoin is taking a hit because of these kinds of reports and thus the price of Bitcoin has plummeted.
But Martin:
"FTX barely owned Bitcoin (see tweet below)."
Answer:
No, but that is totally not what this is about. The issue is that FTX has been framed in the media and the bankruptcy is linked to crypto and therefore Bitcoin.
People have been trying to destroy the BTC since its launch and every time it is sold by FUD the big boys buy it up. Those lists can be seen. Buyers with more than 1000 BTC. The BTC is indeed traceable, but it does not have to be traceable to the user, there are ways to do that. Also, you should never store Crypto on an exchange, but in a cold wallet.
My suspicion is that they will continue to destroy the BTC and the belief in it and lastly take away the BTC and on the other hand buy it up for a low amount, just like it happened with gold in 1933.
Oh yes and not to mention this:
https://www.abovetopsecret.com/forum/thread1321823/pg1
Musk is also a YGL affiliated with the WEF, he can use the twitter data for ze Neuralink AI project... 😉 linked to the blockchain incl CBDC.
https://archive.ph/wRCvZ
https://www.tweaktown.com/news/85842/elon-musk-will-probably-use-twitter-data-to-feed-his-neuralink-ai-tech/index.html
bankman-fried no pun intended... 🙂
maxima explains what cbdc's are, all for The Good Cause 😉
90% of all bitcoin is mimed.
Those are on the blockchain.
They are owned by the PEOPLE.
In total, just under 21 million bitcoins can be mined.
That's how.
The Musks, the "Fryers" of this world don't have them.
They are hopelessly late.
Anyone who purchases btcs through platforms and then does NOT store them in a coldwallet is at great risk.
Platform bankrupt, bye bye BTC-DERIVATES, BTC-PROMESSES etc.
There is substantial trading in bitcoin-DERIVATES (contracts), but these are NOT bitcoins.
With THIS COLOSSALE framing, attempts have been made to give bitcoin the image of speculative crypto. And thus scare people about the so-called risks of bitcoin. However: ALL cryptos are ultimately empty shells, Any clown can launch his own crypto, no dog who knows who is behind it. Worthless cryptos can be launched ad infinitum. In the end, it's all theater. Junk theater. Drama.
Bitcoin is not a speculative currency.
Oh no?
No.
Indeed. There are only 21 million of them, 90% are mined. It takes a lot of time, and energy. Once mined they are heavily encrypted on the blockchain. You as an individual can buy a piece of btc ON THAT BLOCKCHAIN. Preferably from someone else who wants to get rid of OWN bitcoin (gestored in their coldwallet). For example, in exchange for bread. Through this transaction for the purpose of buying bread, for example, I send a piece of btc (via the other person's publickey and my privatekey) to the provider of bread. C'est ça.
It is suggested by the platforms that bitcoin as a payment unit has (price) value just like all other fiat currencies. But that value is THE manipulation via DERIVATES. Bitcoin itself has no value, it is a unit of account, a decentralized means of transaction (decentralized accounting) WITHOUT SECURED PARTY'S, nothing more.
Bitcoin (read: piece of accounting locked with private) is just a transaction MEDICINE. Solely because of the fact that NON-MINERS can purchase bitcoin through platforms by paying with fiat currency IT LOOKS like bitcoin has a rate value. But, it is the purchased PROMESSE, the purchased DERIVATE that represents that rate value. Not bitcoin. Again: bitcoin IS NOT A COINS. Even though it says 'coin' in the name. That is only because 'accounts' can be used to pay for it. It would have been better called Bit unit. Or just Bit. Ok.
People also mistakenly think that because of the limited number of bitcoins in the world (ultimately no more than 21 million), because of scarcity bitcoin would be a speculative currency. This is not true: The "bitcoin central accounting system" consists of 100 million "satoshi central accounting systems. All multiple encrypted. Do the math: 21 million times 100 million Satoshi's.... There is certainly no btc scarcity.
It doesn't thunder whether bitcoin is worth "1 euro," or "160,000 euros," or a "million.
That's not an issue.
Fiat has blown up. Is nothing. Is zero. Is SHOULD.
Bitcoin is precisely designed NOT to be a speculative currency, and thus not manipulable. As long as fear rules, it can be framed away. Anything simple and up for grabs is framed away.
In fact, you could say: the derivatives are fried, the sleeping mob is frightened out of its wits - has fallen for it - may run to CBDC, and the bitcoin owners: read the People, are laughing with their fists.
Even if all the exchanges collapse: bitcoin owners will ALWAYS be able to make payments via the blockchain.
All they need for that is a coldwallet that holds the private keys to the accounts, and an Internet connection. C'est tout.
Indeed: if the Internet flips out, there's a problem.
But this has been in the works for years.
Decentralized Internet.
One is not crazy.
Bitcoin, the source code.
Exchanges: copied source codes within a crypto-simulation.
Goal: conquer source codes, copy.
FTX simulation platform dropped. A (planned) moment of destruction.
The rest will follow, there are going to be more of these moments, because one cannot do anything with just copying. And one does continue to loot.
The people created bitcoin, and put them on the blockchain.
Laggards who follow buy bitcoin through the exchange. Most cannot mine themselves. Neither can I.
Now it gets interesting: are all miners awake? Or are there vaccinated ones among them....
I.e.: which of them will continue after the "three days of darkness"? Who among them still has the original codes? I mean, the codes that Lucifer is behind, as well as the public and private keys?
Assuming Martin is correct in his thinking about the simulation domes... Then this piece becomes interesting as well.
How does one proceed...?
To deaf ears. But I don't care.
You should NOT trade with bitcoin.
Anyone who did: suckers!!!!
Lost everything?
Don't blame bitcoin. Blame yourself!
https://youtu.be/hx7NskdWsxc