The Second Phase of the Crypto Beat Down
The Second Phase of the Crypto Beat Down by Rory – The Daily Coin
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The first phase was getting the bankers to route bitcoin through “futures contracts” with a cash settlement. So far that operation has worked like a charm. Ever since the CME Group got their clutches in bitcoin the price has done nothing but move down, down, down.
When we first saw this story published at ZeroHedge we just shook our head as we have been warning people about all the cheerleaders saying cryptos are the magic bean elixir to beat the banksters. We have shown over and over the exact opposite is true. Will cryptos help us to beat the banksters – it is one of the tools we will be use against them, but it is not THE tool that will beat them.
The alleged trader, who uses the screenname Thoway, explained that he bought eight bitcoins for $7,200 in January 2017 then cashed them out in December for about $120,000. Here’s the catch: his altcoin investments quickly sunk, eating away most of his bitcoin profits. But unbeknownst to him, by selling his bitcoin, Thoway had inadvertently triggered a “taxable event”. Source
This person actually believed the IRS was going to allow him to keep #120,000 of income without paying taxes? What about the 13,000 CoinBase accounts – I hope they all paid their taxes.
Now we are seeing the end result of people listening to a bunch uneducated, no nothing “investment advisors” cheerleading on YouTube and a host of websites across the internet. When people listen to, and believe, the banksters have been beaten it’s time to take a step back and really dig in.
Chris Duane and myself have been two of the loudest voices against being involved in cryptos at all. If you look at the origins of cryptography, blockchain technology and torrent browser (dark web) you see a theme – banksters and deep state/shadow government operatives were behind the development of these technologies. That should be the biggest red flag known. But, people want to believe in something for nothing.
Wonder what phase three will bring to the table. If you are still HODLing these illusions good luck.
Below is Chris Duane’s latest – this time it’s not a warning, but a reminder of what happens when a person enters into a contract with bankers.