Before I delve into the connections I have uncovered, I would first like to say that for me each day is an adventure in understanding the blockchain – constantly uncovering new perspectives, finally wrapping my head around a technological term, or completely changing ideas and beliefs upon discovering new information.

Me Waking Up and Checking the News: Damage Report?I have come to see Bitcoin not as a currency, but as a form of value and rebellion against the central bankers and their overgrowing lust for power over our lives. Though fiat, just like every other currency, I saw a core energy of entrepreneurs, innovators, and everyday people sick of the same day, every day 9 – 5 monotony that separated Bitcoin from all of the other fear based fiat currencies. 

Though I believe the concept of Bitcoin is unstoppable, I no longer believe Bitcoin itself will be the chisel that shatters the wall of centralization. 

Banks have taken control of Bitcoin and all subsequent forks. 

Central Banks Own the WorldThe drama we are now witnessing between Bitcoin and Bitcoin cash is a game where institutional investors are playing both sides, squeezing the average joe for everything they’ve got. 

These past few days following the news that Bitcoin would no longer upgrade to 2MB blocks, we have seen the price of Bitcoin drop to almost $5,600, then suddenly surge back up to almost $6,800. 

Bitcoin Cash went from just above $600 to nearly $2,500, then drop to nearly $1,100 in under 24 hours.

Miners profit regardless and merely switch over to the more profitable chain without skipping a beat – taking everyone else to the cleaners, which then feeds up the banking pipeline. 

Bankers Control Bitcoin

Lightening network and SegWit derive from Blockstream, as well as many of the Bitcoin core developers, including Adam Back (President, Blockstream), Gregory Maxwell (CTO, Blockstream), Mark Friedenbach (Co-founder, Blockstream), Pieter Wuille (Bitcoin Core developer), Samson Mow (CSO), and Christopher Allen (co-author of IETF Transport Layer Security).

AXA Strategic Ventures is one of the core investors in Blockstream, having funded $55 million. They are the investment arm of French insurance giant AXA Group, who are well known for refusing to honor billions of dollars in insurance claims to Holocaust survivors for several decades.

AXA Group CEO Henri De Castries also happens to be the chairman of the Bilderberg Group since 2012. (source)

The Bilderberg Group represents the banking and government power elites who would have the greatest means (and the greatest motivation) to try and destroy or control Bitcoin.

At the same time, the most popular Bitcoin reddit, /r/Bitcoin, has become almost completely censored in the last few years and only allows pro-Blockstream related content.

Blockstream is against increasing the Bitcoin block size because their entire business model is based on creating sidechains which profit from a slow or expensive Bitcoin network.

Control the coders, control the narrative, implement their own code (SegWit) into Bitcoin, which then strips it of its digital signatures and thus creates a backdoor.

Bitcoin Cash IS NOT Decentralized

Bitmain, the all time global manufacturer of Bitcoin mining hardware was responsible for the creation of Bitcoin Cash and is now the dominant miner on the BCH network. 

Excerpt from ZeroHedge

Major bitcoin mines in China’s northwest are being given access to government supported low cost wind and solar power. Powering the computer servers needed to mine digital currencies is one of the biggest financial challenges that bitcoin miners face. The Peoples Bank of China (PBOC)’s logic here is easy to spot:

The more bitcoin miners who set up shop in the China, the greater the control the PBOC exercises over the global bitcoin market.

The PBOC is the central bank of China. 

The Banking Tendrils Extend Deeper

Barry Silbert, Head of the Digital Currency Group (DCG), which was founded by the New York Federal Reserve and is now the sole owner of the Bitcoin Investment Trust (BIT) sits on the board of Blockstream.

Larry Summers, another Federal Reserve officer, also sits on the board.

DCG controls Blockstream, Ripple, ZCash, Coinbase, Bitpay, Civic, Kraken … 

… Coindesk 

According to Matt Corallo, one of the Bitcoin Core developers, DCG may be able to:

“shift significant value towards one cryptocurrency over another. As an investor in numerous bitcoin startups, DCG further has a strong incentive to encourage rule changes and adoption of cryptocurrencies that benefit their portfolio companies and their own operation. They may overrule changes that benefit the investors in the proposed [Exchange-Traded Product {ETP)].” 

Could the Bitcoin War Have Been Preplanned?

Earlier this year, a closed door Satoshi Roundtable meeting took place in a secret location that many deemed the “Bilderberg meeting” of the crypto-world, which included representatives from all of these companies DCG controls. 

This meeting also included executives from large financial operations such as IBM, World Bank, and Fidelity Investments …

Interesting to note that Coinbase and Fidelity are now teaming up … and will soon be accepting Bitcoin Cash. 

DCG quietly pushes Bitcoin Cash. 

Initially, SegWit2x was proposed by Barry Silbert (DCG) as a follow up solution to the Hong Kong agreement. Coindesk then began hinting at using BCH just before the August 1st SegWit implementation: 

“In this light, some see Bitcoin Cash as a possible backup plan if SegWit2x goes awry before the block size parameter increase expected in three months.”

Then in the statement regarding the SegWit2x suspension: 

“As fees rise on the blockchain, we believe it will eventually become obvious that on-chain capacity increases are necessary. When that happens, we hope the community will come together and find a solution, possibly with a blocksize increase.”

Conclusion

Now all of the drama and pumping and dumping over the last few days might make a bit more sense. In the coming days, if the narrative to switch over to Bitcoin Cash as the new Bitcoin begins to make headlines, you will know I am on to something. Even my last couple of articles fell victim to this bandwagon, as I too believed BCH was more in line with Satoshi Nakamoto’s original vision.

I was wrong. 

I hate to say this, but I believe Bitcoin is lost.

The solution is to stop playing their game. Invest in the alt coin you believe can actually break us free from the chains of central banking. 

 

  • Fredrik Johansen

    I keep wondering: With all this arguing back and forth between BTC or BCH, why not chose LTC as the new king instead?

  • Thank you for the read. I wrote an article 2 days ago similar to this and also provides to solutions and some of the bigotry going on between bankers and corporations.
    The beauty with open source and the blockchain ledger is, we can create and support any ledger we choose. 1 CPU = 1 Human Vote (in theory)

    Although, the bankers and big corps have finally caught on, they have no hold on your money unless we give them this power. Understanding the seed to where, what, why, and how the idea begun enables understanding. If this information is hidden, then personal agenda is on the rise.

    Check out the ZkSNARKS ZKP technology being added to the blockchain 😉 No meta data or quantum cracking allowed. True privacy. Big pockets all have nice graphs of meta data and information to track every single user and target them for sales or w/e the mind desires from that individual or CORP. The data is theirs and they own it and it is yours.

    By removing the barrier between metadata these money bag creeps have. They will not be capable of predicting or manipulating any idea or creation unless the individual or idea allows it.

    https://steemit.com/hardfork/@csharpee/my-thoughts-on-the-crypto-currency-wars

    • Justin

      Very well written article thank you for sharing. The only reason I did not go into solutions to the problem in this article was word constraint – and because everytime I think a project looks legit I find something corrupt in its foundation.

      I do still have hope that blockchain technology can evolve our society into one of limitless resources – but that is not going to happen with Bitcoin.

      I will definitely dig deeper int ZkSNARKS ZKP on the surface it looks promising!

      • Thank you for your interest and reply Justin. I will consider your thoughts.

        Yeah, I didn’t want to create bad energy, but create energy and share it without to much emotion and bias; in fact, the first version was more hate speech than intel, but I corrected it. Zcash is the oddball that has its sticky fingers for lots of money.

        JP Morgan also has his hand involved with Zcash. The main reason Hush even exists is because of the above.

        Banks are people to and have access to open source technology as all other free peoples do.

        I choose to boycott them with my fork and spoon for their central control on peoples transfer of wealth and energy.

        Most intel can be learned from here upon the above with the fork from zcash: (Keybase service uses Zcash ZKP)
        https://news.ycombinator.com/item?id=12978725

        • Justin

          Wow now I understand the simplicity and slight grasp of crypto concepts in your article. I am extremely impressed you are far more capable than I imagined. You haven’t commented to anyone in over a year what have you been doing with your time?

          My email version of this comment in your second sentence says you have my email, I’d love to talk more ….

          • I respectively decline your offer.
            Thank you for your interests.

            If you have any questions or interests in the technology, come over to the developer channels.

            I am not a firm believer in hate speech, but I do see its need. I just do not want to be affiliated with the word ‘hate’.

          • I respectively decline your offer.
            Thank you for your interests.

            If you have any questions or interests in the technology, come over to the developer channels.

            I am confident & experienced the energetic reciprocal of hate does create more exponential change without all the up in yo face type click bait.

            I will keep up with squawker and maybe change my mind once I absorb more from squawker.

  • Breanna Madore

    We hold. I wish we would have held onto the 70 coins we exchanged since 2013.It can go up or it can go down, but if we can we hold.

  • J23450N .

    You go on about how DCG et al. control Bitcoin, providing evidence and reasoning, and then just say “DCG is the primary company behind the SegWit2x push” and link them to BCH with no evidence or reasoning whatsoever. Care to elaborate?

    • Justin

      Thank you for bringing this up I definitely did not elaborate correctly. Edited version:

      Initially, SegWit2x was proposed by Barry Silbert (DCG) as a follow up solution to the Hong Kong agreement. Coindesk then began hinting at using BCH just before the August 1st SegWit implementation:

      new link: http://archive.fo/z49xR

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  • Bruno Škvorc

    Additional relevant info: https://np.reddit.com/r/btc/comments/743qb8/is_segwit2x_the_real_banker_takeover/

    We’ve also touched on this in our discussion of SegWit2x (https://bitfalls.com/2017/11/07/segwit2x-fork-can-expect-whos-behind/) and our discussion of Bitcoin Gold (https://bitfalls.com/2017/10/24/bitcoin-forks-bitcoin-gold-scam-stay-safe/)

    In essence, it comes down to this tweet: https://twitter.com/bitfalls/status/927694159527469058

    What I’m saying is, this information has been a public secret for a while, but people are in bull mode and refuse to believe that something that’s made them so much money has been corrupted. The author is right – invest in the altcoin you think has a future. Vertcoin holds promise as a currency, Monero and ZCash are doing fine as anonymous currency, and Ether is the king of utility coins. All of those will likely do quite well. Litecoin is a copy-paste scam made by Charlie Lee who just wanted something to sell on his brother’s exchange (BTCC), he’s neither a developer, nor a visionary or genius.

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  • Shaithias

    vertcoin. look it up.

  • Succ Berg

    Just how deep does this rabbit hole go?

    • Justin

      Just when you think you find that truth, another layer reveals itself. The depth of the rabbit hole is science fiction for most haha!

  • You might want to mention that sidechains is an open source project.

    Liquid Sidechains is released as an open source projects. It’s free for anyone to use. Many exchanges already use it like bitfinex and Kraken.

    If you’d like to use it or contribute to the project you can do so here https://github.com/Blockstream/contracthashtool

    • Justin

      I will definitely take a look into this. Honestly I am all for blockchain achieving its decentralizing objective and I want to bring to light those kinds of projects

  • There should be a payment network on NFC/Altcoins, as well as an open source exchange for ATM services. This would create a Fiat-Crypto bridge. Almost all exchange and payment services today are closed source and corporate.

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