How you can easily tell bitcoin is now a govt backed scam

[realr0ach]

So guys, serious question, if cryptocurrency is not a govt backed scam, why are paid govt shills telling people to dump metals and buy the DOW + cryptocurrency?   Cryptocurrency is obviously a govt backed scam at this point now that the banks are completely loaded up with it.  The banks own the majority of the ETH IPO, and entities like In-Q-Tel own tons of BTC bought for $1 each:

The r0ach report 36: Paid govt shills spotted telling people to dump metals and buy DOW + cryptocurrency

http://steemit.com/bitcoin/@r0achtheunsavory/the-r0ach-report-36-paid-govt-shills-spotted-telling-people-to-dump-metals-and-buy-dow-cryptocurrency

[Yakamoto]

<snip>

You know those are probably just retarded boomers with a lot of time on their hands and a lot of money in investments that they probably don't want to have right now, right?

People who show up and start posting the same things over and over are commonplace on the internet now, and they aren't anything more than people trying to shill their own investments and trying to convince other people that they are right. It's some retarded power fantasy basically, where they think that they're actually influencing markets and matter on the larger stage because a majority of them didn't do much else in their life.

Plus they talk just good enough for boomers, but maybe I'm overestimating their ability to type.

[realr0ach]

You know those are probably just retarded boomers with a lot of time on their hands and a lot of money in investments that they probably don't want to have right now, right?

Nice try, but no.  I'm not a fucking moron.  Ever since it was clear that the bottom was in for metals, these "people" immediately descended upon the metals sites like locusts out of nowhere a couple months ago.  "Baby boomers" did not magically come out of thin air to all complain about metals at the same time.  When the bottom for bitcoin was in at the $200 range, these same paid shills were all over this site posting the exact same stuff.

Whether they're paid by the govt or banks is semantics.  The banks are the govt so it's all the same difference to me.  But it's pretty damn clear, these people want you to buy their overpriced DOW and cryptocurrency and sell them your metals that are at the floor cost of production.  

[realr0ach]

The real reason the price of bitcoin reached where it currently is.  The only question is WHO is the identity of "the Bitfinex spoofer":

THREE coin dealers here in my city have confirmed to me personally that "Bitcoin is sucking the oxygen out of the room" re physical gold buyers.  But, this is perhaps fashion.

Of course it's "fashion".  The overwhelming majority of people are completely clueless when it comes to economics or investing and simply fall back on human herd mentality.  Since they know nothing, they see an asset rise and then believe, "well, there must be people who are more knowledgeable than me investing in this and I will thus defer to their opinion and buy some too since everyone else is".  

This is why pump and dump scams never cease to stop working.  Humans have a finite lifespan so there literally is a sucker born every minute.  The price of bitcoin has been controlled almost entirely by a single entity painting the tape and spoofing walls mostly operating on Bitfinex ever since the price was $200.  I'm probably the first person to talk about this, and then later even Zerohedge wrote articles about it calling him "the Bitfinex spoofer".  One scammer can create an army of zombies to follow him.

Just like all artificially rigged pump and dumps, bitcoin will fall out of fashion, the lemmings will sell their bitcoin post-collapse at the same price or lower than what they bought in, and then say "darn, I wish I bought metals before gold went up 10x and silver went up 20x. I guess i'll buy some now!".  To actually make money, you have to be somewhat of a contrarian investor and buy cold markets while immediately dumping any market full of dumb money lemmings.

[felipe04]

Here in our country even it's like backed scam still government here have benefits in crypto in our country because the wallet here that we use to cash out our money is regulated by the government here so that's not issue and it's authorized with having permit also by paying them to run our wallet here,i think we don't govern by others here but still we need a permit by running so they still pay.

[Tyr808]

So roach you think bitcoin is a govt/banks orchestrated scam to make a few billion $ off the average joes?

[improvegoup]

I'm not an idiot. "Baby Boomers" did not magically escape the thin air so all complained about the metal at the same time. Whether they are paid by govt or bank is semantically. But it's quite obvious, these people want you to buy their expensive DOW and electronic money and sell them your metals at the cost of producing flooring.

[10c]

One can understand exactly that bitcoin is not fraud, because a lot of people got a lot of benefits from it, if there was fraud, many people just got burned and ended up participating in bitcoin.

[Ucy]

Your post are funny.
Wonder why you think they're government shills. Why exactly would government shill Bitcoin. I have gone through the steemit article and didn't see any connection.
You mean thesame government people who come out once in a while telling us why they think Bitcoin will be worthless soon will shill Bitcoin?