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‘Bitcoin Revisits $13.5K’


Bitcoin (Unsplash)

COGwriter

A reader sent me a link to the following:

What is Bitcoin (BTC)?

Bitcoin is the first decentralized cryptocoin ever built on top of a blockchain. It was created by an anonymous person or group of people with the nickname Satoshi Nakamoto in 2009 as an open source project.

To understand the Bitcoin blockchain we can imagine a book, where each page number contains a signature that can validate the content of that page and its previous one. This signature is computed by an algorithm known as SHA-256 and cannot be reversed. In other words we can calculate the A-256 signature from some content, but we can’t get content if we know its SHA-256 signature. Back to the example with the book: if we tear out a page from the book, we can easily understand that a page is missing. The same is with adding an inexistent page. All the pages are copied between members of the chain, and this is why the Bitcoin Blockchain is considered a distributed network.

Bitcoin is an open source project maintained by a developer team with over 580 active contributors. The code of the chain is available on Github. The main purpose of Bitcoin was decentralized but trusted, low fee money transactions between people and businesses around the world. Nowadays over 100.000 vendors accept Bitcoin for payments. https://www.cryptocoinsociety.com/bitcoin accessed 11/02/20

As far as the value placed on Bitcoin, it is very high. And current interest in it seems to have risen in the past month or so:

Bitcoin Revisits $13.5K After Posting Best Month Since April

November 2, 2020

Bitcoin’s bulls are taking a breather after a double-digit price gain in October.

November 2, 2020

The 2020 U.S. election has put the country on course for its highest turnout in a century—with campaigns and candidates dominating headlines.

The bitcoin price has soared in the run up to the election, adding a massive 30% through October and riding a raft of positive news to hit highs not seen since early 2018. https://www.forbes.com/sites/billybambrough/2020/11/02/bitcoin-is-braced-for-a-us-election-earthquake-this-week/?sh=65ab77154c1f

Bitcoin has been doing well. But Bitcoin can be stopped.

And unless it is taken over by the Beast of Revelation 13, it will be stopped.

Bitcoin itself is a bit of a Ponzi scheme. It has been going up in value, because it has been going up in value. That gets more and more people interested in it.

Here is more information related to it:

November 29, 2017

A world of its own

Cryptocurrency proponents argue that the digital coins are a safe investment because they have a “zero correlation” to the stock market. As a result, a dose of cryptocurrency makes investors’ portfolios less volatile.

“We’re starting to see bitcoin as a disaster hedge to the traditional market,” said Chris Burniske, co-author of Cryptoassets: The Innovative Investor’s Guide to Bitcoin and Beyond. “Even though there’s a bull market now, it doesn’t mean that’ll be the case in 2018.”

But David Yermack, who teaches classes on bitcoin at New York University’s Stern School of Business, said the digital coins’ uniqueness brings its own risks. …

In 2013 then Federal Reserve Chairman Ben Bernanke wrote in a letter to Congress that bitcoin “may hold long-term promise, particularly if the innovations promote a faster, more secure and more efficient payment system.”

There’s one big reason the government likes cryptocurrencies, Yermack said. “It takes away the ability of people to launder money or evade taxes, because you have a ledger of everyone’s activity,” he said. “This whole asset class is the dream of government.”

Yes, Bitcoin and other cyrptocurrencies can give governments the ability to control buying and selling.

So is Bitcoin related to the ‘Mark of the Beast‘?

The following, from Jim Rickards, hints that it might be:

Interest in Bitcoin is red hot at the moment. It’s impossible to open a website, listen to a podcast, or watch a video in the financial space without hearing about the meteoric rise in the price of Bitcoin. …

Yet the crypto-hysteria is distracting you from a scary truth no one is talking about. There is every indication that governments, regulators, tax authorities, and the global elite are moving in for the crypto-kill. The future of Bitcoin may be a dystopia in which Big Brother controls what’s called “the blockchain” and decides when and how you can buy or sell anything and everything.

Furthermore, cryptocurrency technology could be the very mechanism used by global elites to replace the dollar based financial system. …

Governments have been patiently watching blockchain technology develop and grow outside their control for the past eight years.

Libertarian supporters of blockchain celebrate this lack of government control. Yet, their celebration is premature, and their belief in the sustainability of powerful systems outside government control is naïve.

Governments don’t like competition especially when it comes to money. Governments know they cannot stop blockchain, in fact they don’t want to. What they want is to control it using powers of regulation, taxation, and investigation and ultimately more coercive powers including arrest and imprisonment of individuals who refuse to obey government mandates with regard to blockchain.

Blockchain does not exist in the ether (despite the name of one cryptocurrency) and it does not reside on Mars. Blockchain depends on critical infrastructure including servers, telecommunications networks, the banking system, and the power grid, all of which are subject to government control. https://dailyreckoning.com/global-elites-secret-cryptocurrencies/

Jim Rickards’ comment about “Big Brother” controlling buying and selling is consistent with biblical prophecies. Before going further, let me mention that I tried to explain the points that are in his last paragraph above to someone this week as I asserted that governments can control cryptocurrencies. And I asserted that on this page over four years ago:

There is no way governments will intentionally allow a system that gets around all of their financial espionage. China is starting to publicly state that, and the government of USA has also began to try to figure out how to handle Bitcoin (Congress has held one or more hearings).

FWIW, I have never traded in Bitcoins or other alternatives like that.

“Big Brother” will work for more and more financial controls.

Related to financial controls, there are some who have believed that Bitcoin will become fully regulated/taken over to the point that it will be associated with the ‘mark of the beast.’ Here is one such comment from several years ago:

If I’m allowed to get Biblical…”Rich man or poor man, free or bond, will not be allowed to buy or sell unless he accepts the mark of the beast.”

Bitcoin is a very smooth end run to achieve that objective.

The “mark of the beast” scripture is from the Book of Revelation which makes the following statements concerning the financial controls of the coming Beast power:

16 He causes all, both small and great, rich and poor, free and slave, to receive a mark on their right hand or on their foreheads, 17 and that no one may buy or sell except one who has the mark or the name of the beast, or the number of his name.

18 Here is wisdom. Let him who has understanding calculate the number of the beast, for it is the number of a man: His number is 666. (Revelation 13:16-18)

The Bible is clear that the time is coming when the Beast power will have implemented some type of strong financial control. (Watch also Sweden going to ‘666’ cashlessness?)

As far as what Bitcoin is, here are comments from what Bitcoin’s website said about it in the past:

Bitcoin is an innovative payment network and a new kind of money.

Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.

Here is something once on Bitcoin’s home page:

Bitcoin is different than any currency you’ve used before, so it’s very important to understand some key points. Unlike government issued money that can be inflated at will, the supply of Bitcoin is mathematically limited to twenty one million bitcoins and that can never be changed.

Bitcoin is backed by nothing. And although there is a type of limit on it, that is no assurance it will be worth anything. Especially since other cryptocurrencies and alternative forms of electronic payment are also available.

Of course, the USA dollar is backed by nothing. And unlike Bitcoin, there has not been a real limit to how much of that has been made.

There are also other cryptocurrencies.

Former German Economics Minister Karl-Theodor zu Guttenberg has been involved with the Ripple cryptocurrency, which made a deal with American Express three years ago (see Amex launches blockchain-based business payments using Ripple: Prelude to the Beast and 666?). Ripple has been a financially valued cryptocurrency (see https://www.cryptocoinsnews.com/300-billion-crypto-market-cap-surges-past-bank-of-americas-total-valuation/).

Much is happening with these blockchain cryptocurrencies.

We also made a video related to blockchain cryptocurrencies:

12:29

American Express just announced a deal with Ripple related to using its blockchain technology. No longer confined to Bitcoin, blockchain technology is moving towards the mainstream. Former German Economic and later Defense Minister, Karl-Theodor zu Guttenberg has long been an adviser to Ripple and has plans for internationally-expanding the use of blockchain money. Jim Rickards, Doug Casey, and others have expressed concerns that blockchain money will give governments too much control over buying and selling. Could any of this be related to biblical prophecies in the Books of Daniel and Revelation? Could any of this help fulfill the prophecies related to buying and selling and 666 in Revelation 13? Dr. Thiel addresses these issues and more.

Here is a link to our video: Blockchain, Karl Guttenberg, and 666.

The time of controlling buying and selling-666-is coming.

Bitcoin has never been backed by anything other than the desire of many to use it to trade or speculate with.

There are ways gold differs from cash and crypto currencies:

Crypto has made its own place in the world by making an amazing leap forward as a medium of exchange, with thus far unrivaled capabilities. But crypto is not gold, and can never be gold. I suggest that BTC and Crypto are better as a medium of exchange, while gold is a better medium for storing value.

This is not because of some dogma I have for the metal. Some will trot out “you are just talking your book” when I mention this.

The simple fact is, out of the near 185,000 tons of estimated above ground gold, someone owns, all of it. Every fine gram of gold above ground belongs to someone already, whether that be in the form of bars, coins, jewelry, the thin layer on astronauts helmets that protect them from solar radiation, or the gold plated contacts in the mining rigs used to mine crypto. New gold mined from the ground is usually spoken for before it ever hits a refinery. My job as a physical gold fund manager is not to convince people to buy gold, that job has already been done.

The reason crypto can never replace gold lies in physics: Gold cannot be destroyed

Everything else can. Computers. Exchanges. Mining Pools. Wallets. Powergrids. Internets. Nations. You name it. If you blew up the planet earth, the gold atoms would still be there.

Unlike anything else you can invest or store money in, gold doesn’t rely on any external force for this to continue to be true over time. It is sort of like a battery with no expiration date.

Gold exists as atomic number 79 on the periodic table. It is chemically inert and does not interact with oxygen. It is the only element with properties that make it completely immune to the forces of entropy. The only way to destroy it would be to fire it into the sun, or somehow put it in the middle of an equivalent fusion reaction that took the atoms apart at a subatomic level. (Stanczyk A. A Gold Guys View of Crypto, Bitcoin, and Blockchain. Medium.com, December 10, 2017 https://medium.com/@alex.stanczyk/a-gold-guys-view-of-crypto-bitcoin-and-blockchain-26e42eeab6b7)

As far as gold and prophecy go, check out the article: The Plain Truth About Gold in Prophecy. How Should a Christian View Gold?

So, yes, Bitcoin, unless adopted by the Beast, will become worthless.

The time is also coming when the USA dollar will be worthless. And yes, the Bible tells that for a time gold will be worthless, but that does not happen to gold until years after the demise of the US dollar. But placing too much confidence in gold, currencies, or alternatives like Bitcoin will not truly save anyone (cf. 1 Peter 1:7). Yet, true repentance and turning to the Jesus of the Bible can.

Although the USA is not likely to repent to nationally to prevent its prophesied demise (c. Habakkuk 2:6-8; Daniel 11:39; Isaiah 10:5-11), nor can Bitcoin prevent it, personally you can repent as well as physically take steps before the dollar-based economic system collapses.

Some items of possibly related interest may include:

Physical Preparation Scriptures for Christians. We all know the Bible prophecies famines. Should we do something? Here is a version in the Spanish language Escrituras sobre Preparación física para los Cristianos. Here is a link to a related sermon: Physical preparedness for Christians.
The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold? A video of related interest may be: Germany, Gold, and the US Dollar.
The End of US Dollar Dominance Is the USA losing its economic status? What about the petro-gold-yuan? A related video is also available: US Dollar being challenged by Gold-Petro-Yuan.
Is God Calling You? This booklet discusses topics including calling, election, and selection. If God is calling you, how will you respond? Here is a link to a related sermon: Could God be Calling You? A short animation is also available: Is God Calling You?
Christian Repentance Do you know what repentance is? Is it really necessary for salvation? A related sermon is also available titled: Real Christian Repentance.
Just What Do You Mean — Repentance? Do you know what repentance is? Have you truly repented? Repented of what? Herbert W. Armstrong wrote this as a booklet on this important subject.
When You Sin: Do You Really Repent? This is an article by Charles F. Hunting. A related sermon is Confess to God and truly repent.
USA in Prophecy: The Strongest Fortresses Can you point to scriptures, like Daniel 11:39, that point to the USA in the 21st century? This article does. Two related sermon are available: Identifying the USA and its Destruction in Prophecy and Do these 7 prophesies point to the end of the USA?
Who is the King of the West? Why is there no Final End-Time King of the West in Bible Prophecy? Is the United States the King of the West? Here is a version in the Spanish language: ¿Quién es el Rey del Occidente? ¿Por qué no hay un Rey del Occidente en la profecía del tiempo del fin? A related sermon is also available: The Bible, the USA, and the King of the West.
Blockchain, Karl Guttenberg, and 666. American Express just announced a deal with Ripple related to using its blockchain technology. No longer confined to Bitcoin, blockchain technology is moving towards the mainstream. Former German Economic and later Defense Minister, Karl-Theodor zu Guttenberg has long been an adviser to Ripple and has plans for internationally-expanding the use of blockchain money. Jim Rickards, Doug Casey, and others have expressed concerns that blockchain money will give governments too much control over buying and selling. Could any of this be related to biblical prophecies in the Books of Daniel and Revelation? Could any of this help fulfill the prophecies related to buying and selling and 666 in Revelation 13? Dr. Thiel addresses these issues and more in this video. A related written article is also available: Amex launches blockchain-based business payments using Ripple: Prelude to the Beast and 666?
Some Doctrines of Antichrist Are there any doctrines taught outside the Churches of God which can be considered as doctrines of antichrist? This article suggests at least three. It also provides information on 666 and the identity of “the false prophet.” Plus it shows that several Catholic writers seem to warn about an ecumenical antipope that will support heresy. You can also watch a video titled What Does the Bible teach about the Antichrist?
Might German Baron Karl-Theodor zu Guttenberg become the King of the North? Is the former German Defense Minister (who is also the former German Minister for Economics and Technology) one to watch? What do Catholic, Byzantine, and biblical prophecies suggest? A video of related interest would be: Karl-Theodor zu Guttenberg and Europe’s Future.
Two Horned Beast of Revelation and 666 Who is 666? This article explains how the COG views this, and compares this to Ellen White. Here is a link to a prophetic video Six Financial Steps Leading to 666?
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe? Here is a link to a video titled: Can You Prove that the Beast to Come is European?
European Technology and the Beast of Revelation Will the coming European Beast power would use and develop technology that will result in the taking over of the USA and its Anglo-Saxon allies? Is this possible? What does the Bible teach? Here is a related YouTube video: Military Technology and the Beast of Revelation.
Must the Ten Kings of Revelation 17:12 Rule over Ten Currently Existing Nations? Some claim that these passages refer to a gathering of 10 currently existing nations together, while one group teaches that this is referring to 11 nations getting together. Is that what Revelation 17:12-13 refers to? The ramifications of misunderstanding this are enormous. A related sermon is titled Ten Kings of Revelation and the Great Tribulation.
Germany’s Assyrian Roots Throughout History Are the Germanic peoples descended from Asshur of the Bible? Have there been real Christians in Germanic history? What about the “Holy Roman Empire”? There is also a You-Tube video sermon on this titled Germany’s Biblical Origins.
Germany in Biblical Prophecy Does Assyria in the Bible equate to an end time power inhabiting the area of the old Roman Empire? What does prophecy say Germany will do and what does it say will happen to most of the German people? Here are links to two sermon videos Germany in Bible Prophecy and The Rise of the Germanic Beast Power of Prophecy.
Must the Ten Kings of Revelation 17:12 Rule over Ten Currently Existing Nations? Some claim that these passages refer to a gathering of 10 currently existing nations together, while one group teaches that this is referring to 11 nations getting together. Is that what Revelation 17:12-13 refers to? The ramifications of misunderstanding this are enormous. A related sermon is titled Ten Kings of Revelation and the Great Tribulation.
Who is the Man of Sin of 2 Thessalonians 2? Is this the King of the North, the ten-horned beast of Revelation 13:1-11, or the two-horned Beast of Revelation 13:12-16? Some rely on traditions, but what does the Bible teach? Here is a related link in Spanish/español: ¿Quién es el Hombre de Pecado de 2 Tesalonicenses 2?; here is a link to a video in Spanish: ¿Quién es el ‘hombre de pecado’? Here is a version in Mandarin: N;ÿ Œf/’Y’jNº’ÿ Here is a link to a related English sermon video titled: The Man of Sin will deceive most ‘Christians’.
Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies for the Great Monarch point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States? In the Spanish language check out ¿Quién es el Rey del Norte? Here are links to two related videos: The King of the North is Alive: What to Look Out For and The Future King of the North.
Sweden going to ‘666’ cashlessness? Sweden continues to reduce the amount of currency notes and coins in circulation as more and more Swedes turn to digital forms of payments. Even ‘farmers’ markets’ take debit and credit cards. Will this eliminate crime or lead to the rise of the Beast and Antichrist power? Could what is happening in Sweden be a prelude to the control of buying and selling that Revelation 13:16-18 associates with 666? Dr. Thiel addresses these issues from Stockholm, Sweden. This is a video.
Eliminate the $100 bill? Various ones, like Harvard economist and Trilateralist Larry Summers have called for the elimination of the USD$100 bill and the 500 Euro note. In Asia, South Korea is heading towards cashlessness by 2020. Electronic currencies are information and subject to monitoring. Did something God inspired the Apostle John over 1900 years ago now able to come to pass? This is a video.
Does God Have a 6,000 Year Plan? What Year Does the 6,000 Years End? Was a 6000 year time allowed for humans to rule followed by a literal thousand year reign of Christ on Earth taught by the early Christians? Does God have 7,000 year plan? What year may the six thousand years of human rule end? When will Jesus return? 2028 or or 2031 or 20xx? There is also a video titled 6000 Years: When will God’s Kingdom Come? Here is a link to the article in Spanish: ¿Tiene Dios un plan de 6,000 años?
The Great Tribulation: What Happens First? What events have happened? What are some events that are now happening? And what events need to happen for the Great Tribulation to start? Here is a link to a related sermon video: Counting Down to the Great Tribulation.
When Will the Great Tribulation Begin? 2020, 2021, or 2022? Can the Great Tribulation begin today? What happens before the Great Tribulation in the “beginning of sorrows”? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language: ¿Puede la Gran Tribulación comenzar en el 2020 o 2021? ¿Es el Tiempo de los Gentiles? You can also see the English language sermon videos: The Great Tribulation from the Mount of Olives and Can the Great Tribulation begin before 2020? A shorter and newer video is: Could the Great Tribulation Begin in 2020? Here is a link to the Spanish version of that video: ¿Podría la Gran Tribulación comenzar en 2020?

This entry was posted on Monday, November 2nd, 2020 at 4:00 pm and is filed under Prophecy.



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