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Decentralized cryptocurrencies render banks completely obsolete. They deliver the control of the financial system back to the people.

Bankers are smart enough to know this and today, in China, the banks ‘decreed’ that Bitcoin may not be used as currency.

And people are smart enough to know this, and nobody cares. Bitcoin in China isn’t even down 15% after the news broke.

In my opinion, what we are witnessing here is the popular rejection of the old financial system. This is only the beginning for cryptocurrencies.

Read more news and propaganda.  You decide which is which:

http://www.nytimes.com/2013/12/06/business/international/china-bars-banks-from-using-bitcoin.html

http://money.cnn.com/2013/12/05/investing/china-bitcoin/

http://www.bloomberg.com/news/2013-12-05/china-s-pboc-bans-financial-companies-from-bitcoin-transactions.html

UPDATE 12/7/13

Cryptocurrency markets have tumbled since the original posting.  I remain bullish on Bitcoin and other cryptocurrencies.  We are in for very interesting year in 2014, as central banks continue to be exposed for their crimes against humanity.  Bitcoin and cryptocurrency is, so far, the most viable solution.  I’m betting on that.

 

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2 Responses

  1. Chinese Banks Say No to Bitcoin: And Nobody Cares

    […] News Link  •  Bitcoin 12-05-2013  •  The Local Voluntary  Decentralized cryptocurrencies render banks completely obsolete. They deliver the control of the financial system back to the people. Bankers are smart enough to know this and today, in China, the banks ‘decreed’ that Bitcoin may not be used as currency. And people are smart enough to know this, and nobody cares. Bitcoin in China isn’t even down 15% after the news broke.  Read Full Story […]

    Reply
  2. Dallas Clarke's Jewish News » Chinese Banks Say No to Bitcoin: And Nobody Cares

    […] News Link  •  Bitcoin 12-05-2013  •  The Local Voluntary  Decentralized cryptocurrencies render banks completely obsolete. They deliver the control of the financial system back to the people. Bankers are smart enough to know this and today, in China, the banks ‘decreed’ that Bitcoin may not be used as currency. And people are smart enough to know this, and nobody cares. Bitcoin in China isn’t even down 15% after the news broke.  Read Full Story […]

    Reply

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