March 15, 2018 - Health Ranger - Mike Adams
19:31
| 
| Time | Text |
|---|---|
| Mike Adams. | |
| The climate change alarmists have brainwashed the entire public into thinking that every weather event is now caused by climate change. | |
| The Health Ranger Report. | |
| Every time it rains, they call the weatherman. | |
| Was it climate change? | |
| It's insane. | |
| It's time for the Health Ranger Report. | |
| And now, from naturalnews.com, here's Mike Adams. | |
| What you are watching now is the final suckers rally, the blowout stage of Bitcoin as new suckers come on board in a speculative manner. | |
| It's going to end catastrophically for people who are holding Bitcoins. | |
| Now, I am pro-Bitcoin, by the way, and thank you for joining me. | |
| This is Mike Adams, the Health Ranger at HealthRangerReport.com. | |
| I'm a scientist, and I'm very well informed on the mathematics of the blockchain distributed peer-to-peer Ledger systems upon which Bitcoin is based. | |
| I understand the Bitcoin system. | |
| I actually mine Bitcoins. | |
| I have a solar powered Bitcoin mining array in Arizona and I've been mining Bitcoins for a couple of years. | |
| And I have sold my Bitcoins for gold. | |
| So I have physical gold now instead of virtual Bitcoins. | |
| And that's a very smart move, as I'll explain here. | |
| So I'm not anti-Bitcoin in any way. | |
| In fact, I'm anti-central banks. | |
| So I'm pro-Bitcoin, but what's happening now is that Bitcoin has become a craze, an investment craze among... | |
| The popular masses. | |
| It's always the last group to get involved in every bubble craze, whether it was the railroad investing in the 1800s or tulip bulb mania, which I think was back in the, was that the 1600s or something like that? | |
| The South China Sea investment Ponzi schemes, more recently the dot-com bubble that ended in 2001 or the subprime mortgage bubble that crashed in 2007-2008. | |
| All of these have the same exact pattern. | |
| And we're seeing that pattern now unfold with Bitcoin. | |
| And what it means is that people are going to get burned so badly. | |
| I've done a mathematical analysis of Bitcoin. | |
| And yes, I'm very capable in mathematics. | |
| I run mass spectrometry instrumentation in the lab to analyze the quantitative chemistry of cannabinoids, and specifically cannabidiols. | |
| I, in fact, am the author of a science paper published in LCGC that developed a new method for analyzing 10 different hemp extract chemicals for their accurate quantitation. | |
| So I'm not in any way mathematically ignorant, and I've done a mathematical analysis of Bitcoin, and here's what I found. | |
| The current Bitcoin price as of this recording is about $24.25, so $2,425 per Bitcoin. | |
| It has skyrocketed. | |
| It has doubled almost, I think, in the last month. | |
| It's going parabolic at this point. | |
| There are about 16.35 million Bitcoins in existence. | |
| Now, 1,000 Bitcoins, which you will see sold or purchased from time to time if you're watching the Bitcoin transaction ledgers, when you see 1,000 Bitcoins sold, it will drop the price by about $30 to $40. | |
| Which is a significant price drop because 1,000 Bitcoins only represents about 0.006%, if I'm remembering that correctly, of the actual Bitcoin supply. | |
| What it means, effectively, is that if even 1% of Bitcoin holders decide to try to sell, it will crash the price of Bitcoin toward zero. | |
| It won't hit zero, it'll still have some value, but it will really plummet towards zero if just 1% sell. | |
| The entire Bitcoin price infrastructure now is dependent on new people buying in constantly to keep the price going up. | |
| And sadly, that has attracted speculative Bitcoin investors. | |
| And these investors are the kind of people who ruin markets through bubbles and crashes. | |
| They're not the kind of people we want to have stability for this Bitcoin cryptocurrency in the long run. | |
| We, who are promoters of Bitcoin, or I should say advocates of Bitcoin, we would rather see Bitcoin have a stable, less volatile path of growth and value as it is adopted as more of a currency of exchange by merchants and consumers who want to buy things using Bitcoin. | |
| That's what we really want. | |
| But instead, what we're getting now is a massive speculative buy-in among the masses in countries like China and Japan and Korea and even Taiwan and elsewhere, most of whom are totally unqualified to have any freaking idea what they're doing. | |
| These Bitcoin newbies are dangerous because they're clueless. | |
| They think that Bitcoin is like buying and selling a stock or buying and selling a currency. | |
| They mistakenly think that they can get out anytime they want just by issuing a sell order. | |
| So almost all of them are delusional. | |
| They think that they can buy in today by, let's say, trading dollars for Bitcoin and holding it while the price goes up. | |
| And their plan is to sell it later when it's much, much higher. | |
| But to sell it, you have to exit Bitcoin. | |
| You have to sell Bitcoin for something else. | |
| You have to, in other words, find a buyer for your Bitcoin. | |
| Well, the Bitcoin market is not nearly as fluid as currency markets or stock markets or bond markets or anything of that nature. | |
| In fact, there are only about 350,000, maybe 300,000 transactions per day in the Bitcoin blockchain, and many of those are very, very tiny for, you know, $2 or whatever. | |
| The number of transactions is small. | |
| The computational infrastructure is also relatively small. | |
| And it's so overloaded right now, even without a crash, that the average payment for transacting a Bitcoin transaction, this is the confirmation payment that's offered with every transaction, is now over $16. | |
| So just to make a trade, just to buy any amount of Bitcoin or to sell any amount of Bitcoin, you are now paying about $16. | |
| Which is way higher than what you'd pay in the stock market to buy and sell most stocks these days. | |
| You can do trades for like $5 or less. | |
| So, you know, remember when Bitcoin was described as being almost free? | |
| Like you could send money anywhere instantly and it would cost you virtually nothing? | |
| That was one of the great things about Bitcoin because there were relatively few people involved and it was fast, the blockchain was small, and the computational Resources required to process the blockchain were orders of magnitude smaller at that time, meaning it was a lot less expensive to process your transaction. | |
| You could have transactions processed for like 10 cents. | |
| Now it's over $16. | |
| And it's only going to get larger as the blockchain gets bigger and bigger. | |
| So a lot of people, almost all the newbies who are now buying in, They are completely illiterate about how Bitcoin works. | |
| They don't understand the blockchain. | |
| They don't understand peer-to-peer cryptocurrency. | |
| They don't understand mining. | |
| They don't understand that the exits for this are very far and few, and you're not going to be able to get out when you want to get out. | |
| So let me give you a metaphor for this. | |
| Remember a few months ago when there was this rave warehouse in California that burned up and killed a bunch of people? | |
| And this happens every few years because these rave dance warehouses, they love to block all the exits for some reason. | |
| And this happens, by the way, in Asia as well. | |
| I remember a big fire in Taiwan when I lived there. | |
| A lot of people died. | |
| In fact, Taiwan didn't even used to have exits on public school buses. | |
| There was like a whole school bus full of children that burned up before they realized, yeah, you should have a second exit. | |
| In any case, sadly, these rave clubs, they like to block all the exits and lock people in. | |
| For some reason, stupid young people think that's really cool. | |
| So they get locked into this warehouse, and guess what? | |
| The electrical wiring is so wildly overloaded, That it sparks fires. | |
| And then the fires turn into blazes because you've got hard liquor, which catches on fire, of course. | |
| And then you've got a blaze in a warehouse full of people who can't get out. | |
| So everybody panics and freaks out and heads for the exits. | |
| The problem is Maybe they open one exit door, but the rest are still chained shut, so there's only one exit, and you've got, you know, 300 people trying to get out through one exit while they're all burning to death. | |
| And guess what? | |
| Not everybody gets out. | |
| Why? | |
| You've got too many people who all panic together and too few exits to handle the exfiltration of panicked people. | |
| It's kind of like what would happen if there was, I don't know, like North Korea, Announced it was going to launch a nuke and hit LA, and the nuke launched, let's say, and then the US government put out a warning to all the citizens of LA, you need to leave the city because an ICBM will arrive in 3 hours and 15 minutes. | |
| How many people will get out of LA on the limited highway system? | |
| Almost none of them. | |
| Right? | |
| I mean, a small fraction, maybe 1%, 2%, something like that. | |
| You're not going to get 95% of the people out of the city. | |
| Won't happen. | |
| The infrastructure isn't there. | |
| Bitcoin has the same problem. | |
| Bitcoin has a very limited computational infrastructure to handle the blockchain ledger transaction confirmations. | |
| And as volumes increase, the confirmation times get slower and slower and slower. | |
| Or it becomes more costly to get your transaction processed. | |
| So you might have to throw in an extra $50 or $100 of a transaction fee in order to get the blockchain to pick up and confirm your transaction in a timely manner. | |
| Without that, you could be sitting on your sell trade for days, literally days, while the price is plummeting. | |
| So people don't realize that they're not going to be able to get out because they've never tried to get out. | |
| You wouldn't believe how many people have bought Bitcoin and bought Bitcoin and held Bitcoin and they've never sold Bitcoin. | |
| I think that's about 80%, by the way, of the Bitcoin holders currently because there's so many newbies in there. | |
| They've never sold Bitcoin. | |
| And so a lot of people don't understand that Bitcoin, to sell it, you have to sell it to a willing buyer. | |
| Again, a lot of people don't even understand the stock market. | |
| They think that when they sell stocks, they're selling to the house or something. | |
| They think there's just this stock market house that buys and sells all your stuff for you whenever you need to buy and sell. | |
| Well, it doesn't work that way, especially not in Bitcoin. | |
| If you want to sell, you got to find willing buyers. | |
| And who's going to buy when Bitcoin is plummeting? | |
| When you start having sellers outnumbering buyers by a huge margin like 10 to 1, the price will plummet so rapidly that it will head toward zero. | |
| It will be oversold at some point, and it'll be a good time to buy in. | |
| I mean, I might even buy Bitcoin again after this next catastrophic crash because when they say, metaphorically, when there's blood running in the streets and everybody's panicked and everybody's freaking out, That's when you buy. | |
| That's when it's oversold, and that day will come. | |
| And I'll tell you about that day when I see it happening, by the way. | |
| But right now, it's overbought. | |
| And people don't understand how it works, and they don't realize that on the day that they want to trade Bitcoin for their local currency, dollars or yen or yuan or whatever, whatever it is, the euro, they won't be able to do it efficiently. | |
| And they may... | |
| Be among the 98 or 99% who really can't get out anywhere near the high. | |
| Because again, the minute people start selling, the price, the value of Bitcoin starts to plummet, even with a tiny fraction of people selling. | |
| So by my estimation right now, Bitcoin being worth over $2,400, if 1 to 2% of Bitcoin holders decided to sell their Bitcoins, the price would plummet to about something... | |
| Something under $100. | |
| So you would lose, you know, almost everything. | |
| People don't get it. | |
| So 98 to 99% of the current holders of Bitcoin are going to lose everything if this crash unfolds, or nearly everything if this crash unfolds, as seems inevitable. | |
| Now, I can't tell you when it's going to happen. | |
| I can't tell you how high Bitcoin's going to go before it happens. | |
| For all I know, Bitcoin could go to $5,000 before the big crash. | |
| It could go to $10,000. | |
| You know, someday it could go to $50,000. | |
| It's hard to say. | |
| It just depends on how many newbies are willing to buy in and, you know, thinking that they're going to make all this money because it's a greed-driven speculative market at this point. | |
| And lots of people want to make a lot of easy money very quickly, very quickly. | |
| Seemingly, seamlessly, and they're willing to, you know, dump a bunch of real money, or, well, I should say fiat money, which isn't really real, but nevertheless, they're willing to dump fiat money into the system in the hopes that their virtual currency will become more valuable, | |
| in the hopes that later they can sell their virtual currency for fiat currency, That they hope to one day turn into real goods like a house or a car or clothing or whatever they're buying. | |
| So people are going to get burned very badly, but it's impossible to know when. | |
| If I knew when, I would short the Bitcoin market, but I'm not shorting it Because it's too risky. | |
| Because you can't logically and rationally quantify the irrational exuberance of the newbies who are buying in. | |
| For all I know, they could drive this thing up to $10,000 before the big crash comes. | |
| So if I short the Bitcoin market right now, I could lose all of my short bets very easily. | |
| And that's why I don't recommend shorting the Bitcoin market. | |
| And I'm not shorting it either. | |
| In fact, I'm pretty much out of Bitcoin. | |
| I think I have a quarter of the Bitcoin right now. | |
| Because again, I traded my Bitcoins for gold. | |
| So I have gold in a drawer. | |
| Like one ounce gold coins from the US Mint. | |
| That's what I have from my Bitcoin. | |
| I traded Bitcoin for gold. | |
| So when Bitcoin crashes, guess what? | |
| My gold doesn't vanish. | |
| The gold is real. | |
| It's real. | |
| It's an elemental, physical reality. | |
| And it cannot vanish. | |
| I mean, I guess someone could try to steal it. | |
| If they think they can get past my hail of gunfire, you know, go for it. | |
| You're going to take some hits. | |
| You might get a couple of gold coins in your mouth or somewhere in your body, but I'm going to get them back out because you're going down. | |
| You're not going to get the gold. | |
| But I understand not everybody is tactically trained in handgun combat or shotguns or what have you, so maybe you don't think you can protect your gold. | |
| But I guarantee you, you can't protect your Bitcoin because you'll lose the money virtually. | |
| You can't fight your way out of a Bitcoin crash. | |
| All you can do is try to sell. | |
| And you can try to panic sell. | |
| And you can try to sell at a lower and lower and lower price, hoping there are buyers who will take your trade. | |
| And yes, that's what's going to happen to people. | |
| And that's how people are going to lose almost everything when the big Bitcoin crash comes. | |
| And it's sad and it's frustrating to me because I'm a supporter of Bitcoin, but I can already see the headlines. | |
| I know exactly how the mainstream media is going to play this thing out. | |
| They're going to say, Bitcoin wipeout crushes credibility of cryptocurrency. | |
| That's the headline. | |
| Millions wiped out. | |
| By crash in Ponzi scheme Bitcoin. | |
| You know, those are the headlines they're going to run. | |
| Woman in Tokyo commits suicide because of apocalyptic Bitcoin loss. | |
| You know, that's the kind of story you're going to get. | |
| And it's all about discrediting Bitcoin and discrediting cryptocurrencies and maintaining the monopoly over the fiat currency systems. | |
| And by the way, if you don't think the central banks have been buying and accumulating Bitcoin just so they can panic sell into a crash, then you don't know how the world works. | |
| Make no mistake. | |
| The central banks have been manipulating this or planning to manipulate it in a very dire way from the very beginning. | |
| They have been buying and accumulating Bitcoin and just planning To fire sale it at the appropriate time to amplify a massive sell-off. | |
| That's what they're doing. | |
| That's what you would be doing if you ran a central bank and you didn't have any ethics. | |
| No question about it. | |
| So, it's coming. | |
| It's coming. | |
| If you're left holding bitcoins when all this comes tumbling down, don't say I didn't warn you because this is so easy to see. | |
| What I'm telling you is a 100% certainty. | |
| It's just a question of when or how high it goes before the crash begins. | |
| But it's going to crash. | |
| A lot of people are going to lose a lot of money. | |
| And if you're wise, you will do what I did. | |
| You will sell your Bitcoins now while you can, before the panic, and you will buy gold coins. | |
| In fact, there are some online dealers that will sell you gold in exchange for Bitcoin directly. | |
| So you don't even have to go through your bank. | |
| You just send them your Bitcoin and they ship you gold. | |
| My friends, you need to be doing that in my view. | |
| You might think I'm wrong. | |
| You might think I'm early. | |
| I'm probably early. | |
| I mean, the market could go much higher, but you can't predict when it's going to crash. | |
| So it's a dangerous game to try to play the peak. | |
| There's no way that you can know when the crash begins. | |
| So you should get out now while you can and convert it to physical gold that won't disappear when Bitcoin craters. | |
| Thank you for listening. | |
| This is Mike Adams, the Health Ranger, or HealthRangerReport.com. | |
| Learn more at HealthRangerReport.com. |
Export Selection