Daily Archives: May 8, 2020

On May 7, the decentralized finance (defi) startup General Protocols revealed the team has raised over $1 million from investors. The creators of General Protocols have introduced innovative projects on the Bitcoin Cash network such as Anyhedge, and have also participated in helping forward the Bitcoin Cash Node (BCHN) project and Flipstarter.cash.

The BCH community was pleased to hear that a startup dedicated to the Bitcoin Cash blockchain and decentralized finance (defi) has raised $1 million this week. The company called, General Protocols, is behind the Anyhedge project which is a blockchain-enforced synthetic derivatives protocol for Bitcoin Cash (BCH). News.Bitcoin.com reported on the project during the first week of April. According to the teams press release, the latest funding stems from the cryptocurrency trader Marc De Mesel and a variety of other investors. The team is thrilled to get funding to push the startups goals forward in order to deliver defi to the BCH community.

We are delighted that aligned investors are supporting us in our vision to bring defi to Bitcoin Cash, said John Nieri a.k.a. emergent_reasons, President of General Protocols. We are building a team of dedicated supporters of peer to peer electronic cash here at General Protocols.

General Protocols team members helped with the construction of Flipstarter.cash, a noncustodial fundraising platform. Additionally, the startup also volunteered efforts toward the new Bitcoin Cash full node implementation called BCHN. The project Anyhedge aims to be the first defi protocol on any branch of Bitcoin and the platform will launch in cooperation with Cryptophyls new noncustodial exchange, Detoken.

Further two former Bitcoin.com team members Marcel Chuo and Rosco Kalis have joined the General Protocols company. Kalis is well known for his work on the Cashscript protocol in order to create a new generation of smart contracts on the Bitcoin Cash network. Chuo will handle business relationships and his background includes global expansion and coordinating with well known tech firms like HTC. During the investment announcement for $1 million into General Protocols infrastructure, Kalis said he looks forward to working on the blockchain-enforced synthetic derivatives protocol for Bitcoin Cash.

Im excited to be working on Anyhedge with the great team at General Protocols, Kalis explained during the announcement.

What do you think about the $1 million dollar investment into General Protocols? Let us know in the comments below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, General Protocols, Anyhedge

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Decentralized Finance Startup Focused on Bitcoin Cash Raises $1 Million for Expansion - Bitcoin News

We are at a turning point in history. The coming months will show how institutional investors will react in the medium term to the countless rescue packages in the wake of the coronavirus crisis. One thing is certain: States and central banks have been hard-pressed for solutions. Moreover, it looks like their efforts have been exhausted already at the start. Should investors end up losing faith in the measures taken, the consequences would be far more dramatic than a short-term stock market crash.

No one can foresee today what our future monetary system will look like, but the history of money has been marked sometimes by radical system changes. Todays historical interventions in the free market are unparalleled, especially given their magnitude, and will no doubt in hindsight be seen as the beginning of the end of our current monetary system with its fiat currencies made out of nothing.

Is Bitcoin (BTC) digital gold and a safe haven currency? Yes, now more than ever before.

Bitcoin was created in 2008 in response to the financial crisis, and the present-day chaos on the global financial markets is the first major test of its ability to assert itself as an alternative and a new asset class. However, when liquidity is needed, as it is now, everything is sold, especially risky assets. John Bollinger, the creator of the so-called Bollinger Band, a technical indicator for price developments, rightly noted that in times of crisis, investors will sell whatever they can sell, and only after assets have been turned into cash is an investment made in crisis-proof assets e.g., gold.

In contrast to state-run monetary watchdogs who have been trying to safeguard a continuously functioning market by pumping in avalanches of money (and not just since the coronavirus outbreak), the pricing of Bitcoin is regulated without any intermediary interference and is solely based on supply and demand. There is also a cap to the number of Bitcoins that can be created 21 million and this means that in contrast to traditional fiat currency, no new Bitcoins can be arbitrarily printed.

New Bitcoins are mined in the same way that other commodities are e.g., gold but through a complex and clearly defined process. No one is able to alter the number of newly generated Bitcoins.

It will be a clear advantage for our traditional monetary system to have alternatives to fall back on in the likely event of hyperinflation. Creative instruments, such as helicopter money and similar interventionist measures, are not possible in the same way with Bitcoin, and neither governments, (central) banks nor other institutions are able to manipulate and/or change the parameters of this new decentralized asset class.

Since the hegemonic power of the United States has been also weakening, the topic of reserve currency will at some point be on the table. Already today, it is foreseeable that Bitcoin and other cryptocurrencies will compete with digital currencies issued by state governments.

Is Bitcoin a global digital currency? This might sound like science fiction, but it is actually not that unfounded.

Meanwhile, institutional investors have started to see the attraction of crypto assets. However, in times of crisis, they are often quick to withdraw their capital from risky investments, and Bitcoin is still classified as such by the majority.

Personally, I am convinced that Bitcoin, as well as other digital assets, can only benefit from the current developments and their dramatic long-term consequences.

The views, thoughts and opinions expressed here are the authors alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

This article was first published in German by the Swiss monthly magazine Schweizer Monat

Marc P. Bernegger founded his first online company in 1999, followed by several tech companies, which he later sold. He got into Bitcoin early in 2012 and has been involved in digital assets ever since. He is a board member at Crypto Finance AG and the Swiss Blockchain Federation, and he is a co-founder of the Crypto Finance Conference in St. Moritz.

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Bitcoins Gut Check: The Time of Crisis as the Moment of Truth - Cointelegraph

Also known as a web wallet, an online wallet is a way ofstoring your bitcoinon the internet. In other words, its a wallet that runs on your browser, just like a website. Online wallets are regarded as more vulnerable to hacks than other types of wallet, but they are very convenient as you can access your wallet anywhere as long as you have an internet connection.

Web wallets are designed to be very user-friendly. You begin by signing up with your preferred provider, which is simple and quick. You will then access your account with a username and password. Sending or receivingbitcoinis easy because all you need is your wallet address (for receiving money) and the address you want to send bitcoin to (for transferring out).

Yes, online wallets are very much like online banking portals for bitcoin. Like online banking, you can log on with your password and carry out transactions, see your balance, and look at your transaction history on the website of your wallet provider.

When it comes to bitcoin wallets there are a number of options from which to choose:

Yes, online wallets are completely free. All you need to do is choose your preferred provider, sign up, and start using your wallet.

There are no additional fees that you have to pay to the provider in order to use your online wallet. However, theres a small transaction fee charged when you spend bitcoin (but not when you receive it). These transaction fees are to pay the miners who verify the movement of bitcoin on the blockchain. Typically these are very low, usually around 0.2mBTC (which means two thousandths of a bitcoin under 2). Most wallets will also give you an option of paying a higher amount in order to motivate miners to verify your transactions faster.

There are many different web wallet services to choose from, heres a small selection of some of the best known:

Yes, you will find online wallets, such as Blockchain, that support a variety of different cryptocurrencies includingEthereumand bitcoin cash. The widest variety of coins, however, will usually be able to be held in web wallets that have integrated exchanges, such as Coinbase.

In some cases, online wallets are exchanges. If you use an option such as Coinbase, you can not only store your coins, but also buy andtrade other cryptocurrenciesthat are then automatically held in the wallet. Other online wallets that hold multiple currencies will often allow you to transfer different currencies between each other (for instance changing bitcoin into litecoin) within the wallet.

Yes, but exactly how will depend on your chosen platform. As a web wallet is like an online account, each company will have security features that allow you to gain access in case you forget your password. Wallets such as Blockchain allow you to set up your recovery seed and enter the 12-word recovery phrase when you lose your password in order to create a new wallet with your balance. Others such as Coinbase have an option for resetting your password, where you get an email with a link to set up a new password. Just to be safe, its better you write down your password somewhere and keep it safe in case you ever forget it.

Setting up an online bitcoin wallet is much like registering for an account on any other online service. Every provider will be slightly different, but usually this is how it will go:

Web wallets are the least secure type of wallet and are not recommended for storing anything more than a small number of bitcoins. The major risks associated with them are being targeted by hackers, as their servers will hold the information of a lot of different bitcoin wallets. This isnt to be alarmist, all online wallet providers will have strong security, but the risks are there.

The main advantage is being able to access your bitcoin wallet anywhere and on any device, provided you have an internet access. Also, the fact that many online wallets are exchanges means you can change your coins into othercryptocurrenciesand react quickly to market fluctuations to cash in on the profits.

It depends. Yes, if you want to be accessing your coins quickly for the purpose of making payments and exchanging; no, if you are looking for a safer option to store a large amount of coins. If your goal is long-term investment, you are better off with a hardware or paper wallet. An online wallet is only recommended for holding a small amount of bitcoin.

Right here. We have reviewed all the options to help you narrow down to the best online wallet for your needs. Go ahead and read through our reviews to find your perfect web wallet. Or continue to the next lesson.

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What is an online bitcoin wallet? - iNVEZZ

Governments and law enforcement agencies have been alerted to the possible illicit use of the pseudonymous Bitcoin (BTC) and cryptocurrencies ever since the notorious darknet marketplace Silk Road was shut down permanently by FBI, which seized more than 144,000 BTC derived from transactions made in the marketplace. This has led to governments and relevant authorities enforcing Know Your Customer (KYC) and Anti-Money Laundering (AML) compliances on the cryptocurrency market and services. However, many law-abiding Bitcoin users are concerned for their rights to privacy due to such measures.

Users who are privacy conscious have sought out privacy tools which could protect their personal information and Bitcoin transaction activities. It is through the growing demand that Bitcoin privacy add ons such as Bitcoin mixers have seen a positive growth and usage in recent years, as more people looking into buying the pseudonymous cryptocurrency are increasingly suspicious of government surveillance and the trust with Fiat currencies such as US Dollars. As a result, MyCryptoMixer (MCM) saw a surge of Bitcoin mixing volumes in less than 12 months since its inception.

It is important to note that privacy should not be strictly associated with illicit use. According to a report by blockchain analysis firm Chainalysis, a mere 10% of funds sent to mixers come from criminal activities, while the rest were mixed for personal privacy reasons.

Priority tools for the privacy conscious

To the average user, the process of KYC and AML could infringe the fundamental privacy rights amid tightening regulations from governments seeking to comply with Financial Action Task Force (FATF) recommendations and enhanced AML requirements on regulated centralised exchanges like Binance and Coinbase, and even payment applications which accepts cryptocurrencies. Fortunately, there are a few privacy tools (such as VPNs, TOR browsers and privacy Bitcoin wallets) that can obfuscate a users transaction, making them fully anonymous and private. In particular, the Bitcoin mixer has been gaining traction due to its gradual learning curve, suitable for everyone to utilise.

Similar to cryptocurrency exchanges, it is known that there are some Bitcoin mixers, putting up a facade of protecting the users identity but were actually created to steal the Bitcoins from their victims. Therefore it is crucial to perform some due diligence checks on the mixing service provider before proceeding with the service. Reputable bitcoin mixers like MCM are known to offer effective and easy-to-use privacy features that offer an additional layer of privacy and anonymity for the users Bitcoin transaction, since all transactions on the public Bitcoin blockchain are transparent and accessible by anyone through a blockchain explorer.

MyCryptoMixer The Preferred Bitcoin Mixer of 2020

MCMs meteoric rise in the Bitcoin mixer market is likely due to its trusted and user-friendly platform when compared to other mixers in the market. Plenty of measures are in place to ensure that every mixed Bitcoin transaction is untraceable, thus promising its users by upholding complete anonymity and privacy in the process. They have garnered a decent fanfare of crypto advocates who valued privacy through Bitcoin mixing. According to anonymous feedback by their users, MCM has gained rapid recognition due to its user-focused and highly responsive customer service support.

In addition to that, MCM is available in both clear web and TOR networks, catering to the users preference of anonymity level. The user-friendly mixer does not require any account registration for obvious reasons, and that the log of every mixing process is automatically wiped off the database to further conceal each and every mixing done within MCM. Also, the user may select up to five different receiving Bitcoin addresses for the mixed coins, and he or she may customise the time delay and fund distribution to each receiving address.

The straightforward 3-step mixing process

MCM is known to have the most straightforward mixing process in the market, in which the entire process can be completed in about five minutes or less. As mentioned in the earlier paragraph, the user will have the option to select up to a maximum of five receiving Bitcoin addresses, adjust the time delay and fund distribution across the selected addresses. Unlike other mixers, the negligible service fee of between 0.5% to 5% is determined by the user.

Users are prompted to deposit a unique amount of BTC based on the mixers randomised mixing algorithm to make the transaction and activity pattern difficult to track by blockchain analysis tools for every mix. Once that is done, the user could download a letter of guarantee which serves as a warranty or status sheet on the exact details of the specific mix.

About MyCryptoMixer

Launched in 2019, MCM is a highly reliable and secure Bitcoin mixer designed to achieve full anonymity and privacy for anyone that engages with Bitcoin transactions. Within a year since its inception, it has seen a significant growth in the weekly mixing volume. As one of the most user-centric Bitcoin mixing service providers in the market, they are empowered to assure their privacy conscious users with a peace of mind amid tightening KYC and government surveillance in the digital age today.

For more information about MCM, you may refer to their walkthrough guide on how to get started with Bitcoin mixing.

Supporting Linkshttps://www.mycryptomixer.comhttp://mymixerxtukle6mo.onion

Contact Email Addressmycryptomixer@protonmail.com

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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MyCryptoMixer 2020 - The Best Bitcoin Mixer Necessary To Protect User's Anonymity and Privacy | Press release - Bitcoin News

The Shanghai No. 1 Intermediate Peoples Court made a public announcement on May 6, 2020, about an appeal involving a Bitcoin (BTC) foreign property damage compensation dispute.

The second Court trials investigation into the matter confirmed that Bitcoin may be considered a digital asset. Therefore, it must have full protection under the law, the court ruled.

It added that all Bitcoin acquired via illegal transactions must be returned or compensated at a reduced rate.

As mentioned in the report, an ex-pat married couple living in Shanghai (Pete and Xiaoli Wang) were reportedly robbed at their apartment by four individuals a couple of years back.

The thieves had managed to force the couple to send their cryptocurrency to the attackers digital currency accounts.

The incident report stated:

These four (robbers) used methods of controlling the couples mobile phones, restricting their freedom, beating and threatening them and forcing the two to transfer all the 18.88 bitcoins and 6466 Skycoins they own.

At the time of the first court hearing, the accused had said they would return the Bitcoin and the Skycoin cryptocurrency stolen from the couple.

The court had sentenced the criminals to between 6 months and 15 days to 8 months in prison for the crime of illegally detaining the couple.

The court stated (at the time of the ruling) that if the offenders cannot give back the same cryptocurrency stolen in June 2018, then they must return the equivalent in local currency.

The robbers allegedly refused to accept the courts ruling and proceeded to appeal the decision.

They argued:

The current Chinese laws do not recognize the property attributes of Bitcoin and Skycoin, and do not regard Bitcoin and Skycoin as objects or property in the legal sense of China. Therefore, Pete and Wang Xiaoli do not have the right to request the return of property rights.

Nearly two years of battles in court led to the couple giving up on the possibility of getting their Skycoin holdings back. However, they still tried to get their Bitcoins back. The court has again ordered the thieves to return the couples Bitcoins.

In July of last year, Bitcoin also received legal recognition by a second Chinese court.

The Hangzhou Internet Court said Bitcoin qualified as virtual property.

The ruling came after a dispute between a cryptocurrency exchange and one of its customers who had allegedly lost the BTC they deposited on the trading platform.

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Chinese Authorities Continue to Recognize Bitcoin (BTC) as A Digital Asset Entitled to Protection Under the Law in Latest Court Case - Crowdfund...

Iranian lawmakers have reportedly approved a plan to slash four zeros from the national currency, the rial, which has been falling sharply in value amid chronic inflation and the U.S. sanctions. The official currency will also be replaced. Economists are skeptical about how the changes will affect the Iranian economy.

The Iranian parliament has reportedly passed a bill to allow the government to cut four zeros from the national currency, the rial. The countrys weak currency and persistently high inflation have led to street protests since late 2017. According to Irans Students News Agency ISNA, a major news agency in the country:

The bill to remove four zeros from the national currency was approved by lawmakers.

Ali Rabiei, a spokesperson for the government of Iran, said in a tweet, Eliminating the four zeros is a necessary action to simplify financial transactions. According to reports, the Guardian Council of the Constitution is expected to ratify the law before it can take effect. Irans state TV noted that the Central Bank of Iran (CBI) will have two years to implement the changes removing rials from circulation and issuing tomans instead.

The governor of the Central Bank of Iran, Abdolnaser Hemmati, has promised to implement the reform as soon as possible, the Financial Times reported. He told the countrys parliament on Monday:

Currently, our money has a horrifying difference with euro and [one rial] equals 0.000006 The efficiency of the national currency has declined due to chronic inflation over five decades.

The changes are the outcome of a draft bill that Hemmati introduced early last year. The central bank governor noted that his countrys currency had been devalued 3,500 times since 1971. According to reports, the idea of removing four zeros from the national currency has been discussed since 2008, but it became a priority after the U.S. imposed sanctions on the country in 2018.

The value of Irans currency has been steadily declining since the Islamic Revolution in 1979 but that drop has accelerated in recent years fueled by U.S. sanctions. Since the Trump administration exited Irans 2015 nuclear deal and reimposed sanctions on the country in 2018, the value of Irans currency has fallen by roughly 60%. The Iranian currency was trading at about 163,000 rials per dollar on unofficial markets at the time of this writing. In addition, the coronavirus pandemic has contributed to a further devaluation of the rial since February. To evade sanctions, Iran has also turned to cryptocurrency. The country has approved more than 1,000 bitcoin mining licenses, including Iminer recently.

Under the plan, Irans official currency the rial will also be replaced by the toman, with one toman being equal to 10,000 rials, the central bank governor said Monday. While the rial is used in official documents, Iranians have always referred to their currency in daily conversation and business transactions as the toman, with one toman being equal to 10 rials.

The move has psychological significance on people who do not recognize the rial and always use toman, a senior businessman was quoted by the Financial Times as saying. Otherwise, it almost has no economic or financial impacts on the country other than bringing down the costs of issuing notes and coins. Saeed Laylaz, another economist, is skeptical about the plan, stating:

The change of the currency as well as dropping too many zeros will inadvertently create unnecessary fluctuations in the economic and social structures and will even fuel the inflation The central bank will drop four zeros but the inflation will quickly bring back two of the zeros.

Some people have also raised concerns that the changes would add extra expenses at a time when the government was already facing a budget deficit of between 30% to 50% for this coming fiscal year.

Paris-based Iranian economist Fereydoun Khavand explained that usually governments resort to changing the national currency as the last stage of an economic overhaul, citing examples such as what European countries did after World War II or Turkey in recent years. However, he pointed out that Iran has done the opposite due to the crippling effect of U.S. sanctions, which have severely limited the countrys ability to sell oil or to conduct international financial transactions, the media quoted him as saying. The economist added that under those circumstances, it is difficult for the Iranian government to make other basic economic changes, elaborating:

You typically fix the economy first and then change the currency The government is in a financial bind with no prospect of financial aid coming from outside or from inside so they are trying this.

Meanwhile, U.S. President Donald Trump is fighting Congress over a resolution requiring him to get approval before engaging in further military action against Iran. The nonbinding congressional resolution was introduced after Trump launched an airstrike that killed Iranian Gen. Qassem Soleimani.

What do you think about the changes Iran is making to its currency? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, The Jewish Press

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Iran to Cut 4 Zeros From Its Currency Amid Chronic Inflation and US Sanctions - Bitcoin News

A recent report from Rand (Research And Development) Corporation, an American non-profit global policy think tank thats funded by the US government (and private endowment corporations, universities, and private individuals), claims that Bitcoin (BTC), the flagship cryptocurrency, is being used to carry out a relatively large number of dark web transactions.

Rand Corporations study looked into the use of privacy-oriented digital currencies, such as Monero (XMR) and Zcash (ZEC), to facilitate dark web transactions.

The Electric Coin Company, the firm behind the development of Zcash, had commissioned the research study, which was published on May 6, 2020.

The report says that Zcash has only a minor presence on the dark web, which suggests that it may have been seen as a less attractive option to dark web users and is used less often compared to other cryptocurrencies, particularly Bitcoin and Monero.

The report acknowledges that there may be some indications or anecdotal evidence that Zcash could have been used or promoted for use in illicit activities.

However, the report claims there is no evidence of widespread illicit use of Zcash. It goes on to clarify:

[The] absence of evidence does not equate to evidence of absence enduring vigilance against malicious use of this cryptocurrency is nonetheless important.

Erik Silfversten, an analyst at Rand Europe, says that there wasnt any significant evidence that the Zcash had been used to carry out illicit transactions, however, he admitted that it doesnt mean that the cryptocurrency isnt used for illegal activity at all.

Silfversten added:

We have to look at technology as a neutral, that it could be used for a wide variety of applications, and then we have to look at the actual evidence.

In January 2020, Chainalysis, a leading blockchain analytics and cybersecurity firm, reported that it traced $2.8 billion in Bitcoin (BTC) being transferred to criminals via cryptocurrency exchanges in 2019. The company claims that most of these transactions went through Binance and Huobi, two of the worlds largest crypto trading platforms.

Chainalysis management noted:

While exchanges have always been a popular off-ramp for illicit cryptocurrency, theyve taken in a steadily growing share since the beginning of 2019. Over the course of the entire year, we traced $2.8 billion in Bitcoin that moved from criminal entities to exchanges.

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Bitcoin (BTC) Remains a Widely-Used Cryptocurrency for Dark Web Transactions, a New Report Claims - Crowdfund Insider

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Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

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Global lockdowns ease, but is a credit crisis looming? And Bitcoin's halving is just around the corner - Finfeed

Bitcoins pre-halving performance is starting to attract serious attention around the world, and especially in India. The coins recent price surge took it past the $10k mark, and while it only happened briefly, it had a strong impact.

In fact, Bitcoin became one of the most common terms on Indian Twitter, with around 86.2k tweets earlier today. This was enough to get Bitcoin to trending, and even allow it to exceed Netflixs hit show, Money Heist.

As some may remember, Money Heist itself became a massive hit during the two-month lockdown in 2020. The lockdown caused by the coronavirus outbreak disrupted the world, but it did wonders for Netflixs viewership.

Interestingly enough, the show in question focuses on a criminal gang that is planning the worlds biggest banking robbery. Their plan comes down to printing billions of EUR inside the Royal Mint of Spain.

In the real world, the coronavirus-caused feats led to the global economic meltdown. Millions upon millions of people were left unemployed as businesses shut down due to the virus. The stock prices crashed, and people were sent home in self-isolation.

As a result, central banks had to start printing trillions of dollars to provide short-term relief. Meanwhile, while it did experience a brief crash, Bitcoin quickly started returning back to normal. In other words, it managed to beat the money-printing in the real world over the past two months. Now, by surpassing the show on Indian Twitters trending, it did the same for the fictional money-printing.

Another thing worth noting is that Paul Tudor Jones, a billionaire hedge fund manager, announced a Bitcoin futures investment. Mr. Jones stated that his decision for his fund to invest in the coin came after the Feds money printing decision.

After the statement went public, Bitcoin saw a major rally almost immediately. This was impossible to ignore, even for Indian media, which usually focuses on the coins alleged criminal tendencies. Bitcoin is slowly but surely spreading, and its benefits are becoming apparent to all. With the halving approaching, the following 12 months will undoubtedly be a very interesting period in crypto history.

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Indian Twitter is more interested in Bitcoin than in Netflixs hit show - Invezz

Jeff Berwick is an entrepreneur with a lot to say these days and hes released a number of videos discussing the coronavirus pandemic and the government-induced lockdowns. Berwick is the founder of The Dollar Vigilante, an anarcho-capitalist media outlet focusing on gold, silver, mining stocks, cryptocurrencies, and offshore banking. News.Bitcoin.com chatted with Berwick this week in order to get his perspective on the current events tied to the Covid-19 outbreak, the stay-at-home orders, the financial turbulence, and what he envisions will happen next. Berwick chats about precious metals like gold, his thoughts on a few digital assets, and the concept of self-ownership. He believes that humans are faced with a choice Either continue down the nasty road of manipulation and fraud or break the invisible chains of subordination and authority figures.

Bitcoin.com (BC): Can you tell our readers your thoughts on the Covid-19 pandemic, the government lockdowns, and the media surrounding this event?

Jeff Berwick (JB): To put it bluntly, there is no pandemic. Even if you take the numbers given out by the WHO and CDC, which are absolutely not to be trusted, this supposed pandemic has fewer hospitalizations and less deaths than even the 2017-2018 flu seen. Ive been researching and following the activities of what you could call the elite or globalists for nearly two decades and this has been long planned for as a type of false flag event in order to bring in a dozen or more globalist agendas.

BC: Your recent videos have been raising awareness about certain elements of the pandemic that are not natural. Would you say that the central banks and politicians are in the midst of a financial reset?

When I started The Dollar Vigilante in 2010, I said that by the end of this decade the financial and monetary system would be in collapse. I even began predicting last summer when I saw the first signs of it hitting that it would happen in days, weeks, or months. The modern monetary and financial system has reached the end of their rope. The entire world, whether it be governments, businesses, or individuals are beyond the point of no return in terms of indebtedness. I believe the pandemic, which I call a plandemic was all a part of collapsing the system and blaming it on anything but the real culprits, governments, and central banks. In many ways, the 2020 crisis is no different from 9/11 which was a pre-orchestrated and planned false flag event to crash the system and bring in a massive reduction in civil liberties that continue on to this day.

BC: Do you think that the lockdown or stay-at-home measures are deliberate in order to halt the economy and the supply chain?

Yes. The Rockefeller Institute, in 2010, after David Rockefeller had met with Bill Gates and George Soros in something they called the Good Club. They put out a document called Lockstep which outlines using a virus pandemic scenario to bring in worldwide totalitarian control, break down the supply chains and essentially bankrupt most of the world and have them all go on Universal Basic Income (UBI) and become not much more than destitute slaves much like in places like Cuba and Venezuela.

BC: If you were to give a timeline in months or years, how long do you think the USD will last as the globally dominant fiat currency?

Its really just a race to the bottom now for all fiat currencies. Nearly every government in the world is beyond bankrupt and nearly every central bank in the world is counterfeiting up trillions of new fiat currency units at unprecedented rates which all but ensures a total collapse in them all. This too is part of the plan as they intend to destroy nearly every governments finances and hyperinflate all the currencies in order to bring in a one-world, digital currency which will track, and tax, every single thing that people do with it. As for the timeframe, it depends on a lot of factors.

But we are talking just a few years likely. I see hyperinflation coming to nearly all fiat currencies in the next few years. Hopefully a lot more people begin using cryptocurrencies now. If so, many can avoid the total destruction coming.

BC: Equities, commodities, oil, and many other investments have pretty much crapped the bed or are on life support. However, Bitcoin has done surprisingly well since Black Thursday March 12. In fact, it has performed better than any asset or equity since then. Where do you see bitcoin (BTC) going from here price wise or as far as a safe haven asset like gold?

As I said earlier, I was expecting this crisis and had told all our Dollar Vigilante subscribers (you can subscribe here) to expect a crisis of never before seen proportions at any moment now. I also told them to lighten up on our favorites, cryptocurrencies, and precious metals, as I said they would go down in the initial stages of the crisis. I stated in a number of speeches and videos over the last year that I expected bitcoin could hit a bottom near $4,000 during that crisis. And, that is almost exactly where it hit. We then pounded the tables to buy. As you pointed out, it has done incredibly well since and has proven itself as a type of safe-haven asset now. As for where it goes from here? Itll be volatile but with every central bank printing fiat currency like Zimbabwe now, precious metals and the best cryptocurrencies will skyrocket over the coming months and years in nominal terms and will do very well compared to almost anything else in real terms.

BC: BTC specifically has issues with fees, do you see other bitcoin branches or alternative cryptocurrencies doing well during a global economic depression?

I have been one of Bitcoin Core (BTCs) biggest critics of the way in which it was so slow to adapt to increased usage, particularly back in 2017 when transaction times would sometimes take days and transaction fees would sometimes be over $100. But, things have improved a lot since then. I have some doubts and issues with Segwit and the Lightning Network but I am waiting to see how that plays out. Ive said since the original Bitcoin Cash fork to hold on to all your BCH and BSV as well. There are still lots of potential pitfalls with the BTC version of bitcoin but it is by far the most widely used so I am still very bullish on it. I like a lot of the innovation and development I am seeing in BCH and BSV so continue to hold on at least a 1:1 basis with BTC and may even increase that slightly soon.

As for my favorite with the biggest potential reward, it is monero (XMR). As an anarcho-capitalist, I was drawn initially to bitcoin in 2011 as I thought it was quite a private currency. As time went on and as BTC moved even further away from a privacy focus I was thrilled to find out about Monero a few years ago. And, having a crypto team at The Dollar Vigilante and The Crypto Vigilante, they have shown just how incredible of an innovation Monero is for a truly 100% private, untrackable, untraceable currency. And, being at such a low valuation compared to bitcoin right now, I think it has the most potential to have exponential gains.

That said, governments and central banks will try everything they can to stop its usage. But, the great thing is, there isnt much they can do. And, screw them anyway, they are criminal organizations that need to find their way to the trash heap of history as a very, very, very bad, evil, deadly and stupid idea.

BC: Bank of America and many other estimates predict gold prices per ounce to jump to over $3K per ounce in 2020. Would you agree that gold will see a price increase like this due to the macroeconomic turmoil?

That sounds pretty close to what we expect for this year. Over the next 2-3 years, though, we expect much higher than $5,000. If we go right into hyperinflation, pick any number you want. It wont mean anything at that point though.

But, I dont see it rising based on macroeconomic turmoil, I see it rising as people flee hyperinflating fiat currencies for something of real value like the precious metals and some cryptocurrencies.

BC: Right now businesses are being told not to open and remain on lockdown. Many people think that their freedoms are being taken away as well. What would you tell business owners to do and average citizens who want to protect their freedoms? What should they do?

Governments should not exist. They are an illegitimate criminal organization. Every individual should make their own decisions on their own risks and rewards and act on those. Adhering to anything government tries to force on people using violence is always a horrible idea. As for losing your freedom. What freedom? The human race as a whole has never been so enslaved, tracked, and extorted. Your average person now has to ask the government for permission to do just about anything. Drive, fish, cut hair, travel. And, anyone who produces anything has more than half of it stolen by the government.

If people want any chance to have even a sliver of freedom they should immediately walk away from anything related to the government. Dont vote. Dont pay extortion fees. Dont ask for permission to do anything. Nobody owns you but you. If people ever realize that then we will have a world of peace and prosperity like weve never known it. If they dont, we are headed to something even worse than George Orwell imagined. And, he imagined a boot stamping on a human face forever. It will be worse than that if people dont wake up.

What do you think about our discussion with Jeff Berwick? Let us know in the comments below.

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Dollar Vigilante Founder Talks Covid-19 and Economic Crisis: 'The Modern Financial System Is at the End of It's Rope' | Interview - Bitcoin News