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courtesy of Northridge Corporation

That’s right, not a misprint.

On March 28, 2022, G-101 algorithm presented a position, to wit: “Bitcoin is the most overvalued intangible asset since tulip mania in 1634. A single bulb sold for the astonishing price of $50,000 (in today's dollars). By February 1637, tulip traders could no longer find new buyers willing to pay increasingly inflated prices for their bulbs. As this realization set in, the demand for tulips collapsed, and prices plummeted—the speculative bubble burst. Doesn’t that sound like today’s Bitcoin? …. At $46,827 per Bitcoin, new buyers would be hard pressed to ‘invest’ in an asset class as reliable as the lowly tulip bulb. Indeed, the parallels are too obvious to ignore.”

When our G-101 algorithm suggested that the interim high of $46,827.50 will never happen again, we received hostile responses. Be as it may, Bitcoin UDA (BTC-USA) will never be higher, and today it’s $29,806.86, a loss of $20,020.64 from the day G-101 “suggest” selling.

Bitcoin is a Ponzi scheme since the value created for the holder is a network that collects verifiable data regarding the transactions of buying and selling the coin on a digital network. This simply means that the blockchain has no other function than to support a closed network to keep the Ponzi scheme going.

How Bitcoin and the other digital currency promoters explain the blockchain network.

A blockchain network’s transactions (buyers and sellers trading Bitcoin) are composed of sequential groups of data that are packaged together into “blocks” strung together linearly. Each block also contains a set of transaction data that is processed once the block is finalized. The individual blocks that make up the larger blockchain contain crucial information for the functioning of the network. Each new block contains cryptographically verifiable data regarding transactions, as well as a numerical challenge that must be completed for the current block to be approved and added to the blockchain.

In simpler words: The blockchain is not an anatomical structure of a block, merely a crib sheet or cheat sheet to keep track of buyers and sellers.

What is Bitcoin and how does it work?

Bitcoin is a digital currency which operates without central control or the oversight of banks or governments. Instead, it relies on peer-to-peer software and cryptography. A public ledger (crib sheet) records all bitcoin transactions and copies are held on servers around the world.

What is Bitcoin used for?

Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middlemen – meaning, no banks! Bitcoin is only good if the seller wants to accept it for goods and services.

Is Bitcoin real money?

Bitcoin (BTCUSD) is often referred to as digital currency and as an alternative to central bank-controlled fiat money. Central banks are more reliable because they are issued by a monetary authority and are widely accepted, while digital currencies are not regulated, and depend on the willingness of buyers and sellers to exchange perceived value for tangible value.

Can I convert Bitcoin to cash?

Converting bitcoin to cash and ultimately moving it to a bank account requires an open cryptocurrency exchange, without guarantee it will function in the future, while sovereign currencies are made legal tender by a government decree or fiat.

Is it smart to invest in Bitcoin?

Cryptocurrency is not a sound investment, which is elevated risk gambling and a strong chance you could lose all your money.

Do Bitcoins have a future?

Bitcoin's future is still very uncertain, and not acceptable by the mainstream financial community. Material issues over custody, security, and capital efficiency are major headwinds for digital assets of all kinds. As for the current blockchain network’s transactions matrix, faster algorithms are making the current “mining” technology obsolete.


Are you smart enough to use it?

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