Thursday, August 17, 2017

The Bitcoin saga has morphed into the same intolerance among individuals that is occurring within the progressive left

Earlier this morning I received a comment on one of my podcasts from an individual who has become so thoroughly disgusted with Bitcoin evangelists that he has disconnected and unsubscribed from their writings, opinions, and channels completely.

"You stick to the numbers Ken. All the crypto pumpers and zealots are in full vitriol over any questioning of their "god" like by SG and Zhang... but you, you stick to the numbers and let them do the talking... That is why after unsubbing jsnip, Bix, Rogue money cliff high and such I still follow you... keep up the good work man!"
Now, I did not post this comment to pat my own back, or to make the assertion that I am correct in my opinion of Bitcoin and other cryptocurrencies, but instead to show that the debate over Bitcoin has morphed into something along the lines of the same intolerance and vitriol that we see coming from the Antifa's of the world, and many in the progressive left.

Image result for bitcoin mania

Over the past couple of months I have begun to notice that there is now a dividing line between Bitcoin advocates, and ANYONE who dares question the validity of cryptocurrencies being the future of all money.  And indeed, this debate only got hotter following the honest discussion that took place between Peter Schiff and Max Keiser a week or so ago over on RT.

For someone like Max Keiser, Jeff Berwick, and a few others, I will give them all the credit in the world because they were out there talking about the potential of cryptocurrencies for at least five, if not all nine years of their existence.  However for the vast majority of Bitcoin evangelists, they love to claim they were touting its potential for years but it is near impossible to find any evidence of this prior to 2015.

Additionally, the majority of these cryptocurrency advocates should not be telling anyone what they should or shouldn't buy, nor should they be vilifying anyone for wanting to do all the necessary due diligence before taking the plunge.  This is because the majority of those analysts are not licensed certified financial planners or fiduciaries, and it is illegal for them to give investment advice, or to put pressure on those who have not yet bought into the asset.

We here at The Daily Economist have tried to do our best to give both sides of the coin (pun intended) when it comes to Bitcoin and cryptocurrencies, and have never specified any buy, sell, ignore actions for our readers, or investors.  And no matter what choice one makes in the cryptocurrency sphere, our sincerest hope is that you always are able to turn a profit and not get compromised.

Bitcoin has almost turned into a cult by the way many analysts and followers have turned the idea of an investment into a vehicle for social change and rebellion against the current monetary system.  And while cryptocurrencies do very much have the potential to one day replace sovereign control over the printing of currency, it is not up to anyone to tell you how to think or feel, and certainly not to vilify you if you have a differing opinion on the topic.


here-here!! Excellent report - diplomatic and well done

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