Cryptocurrency is a scam

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Cryptocurrency: digital money scam.
What a prepper needs to know about cryptocurrency

Is Cryptocurrency a scam?
Cryptocurrency is money grown on the Internet. It shouldn't grow
there. We've been told all our lives that money doesn't grow on
trees, but why do preppers forget this conventional wisdom when
it comes to cryptocurrencies? Let the buyer beware!

Think of cryptocurrency as a multi-level marketing scheme. There
are people at the top who will make money. One of them, Satoshi
Nakamoto, who allegedly released the open-source software for
Bitcoin a decade ago, is no where to be found. That should have
every prepper doing some head scratching.

Get wise to the cryptocurrency scame. Below is everything a
prepper should know about cryptocurrencies and why they're not
an investment strategy or prepper currency worth considering...

Beware of Cryptocurrency!
A digital transformation of our economy is happening, but it got a
sleepy start with cryptocurrency. Bitcoin, the first cryptocurrency,
came into our economy in 2009. One Bitcoin back then was worth
pennies because it had little value. Fast forward to 2016 and one
Bitcoin was worth $708, by 2017 it reached an all-time high of
$19,738 and in 2019 it's still worth an astounding $7,435. Wait a
minute! How did that all that happen?

If the skyrocketing value seems fishy to you, then trust your
instinct. You're right to feel skeptical! What comes up, must come
crashing down.

Don't trust any digital currency flooding the market (there are
thousands of cryptocurrencies and not just Bitcoin). Somebody
will be making money from cryptocurrencies and it's not going to
be you because the plan is already in place and you weren't part
of it. Think of it as a multi-level marketing scheme. Only those at
the top of the chain will make money. Who's at the top? No one
really knows, but credit is given to Satoshi Nakamoto.

Ask yourself: Who is Satoshi Nakamoto?
As legend has it, a guy named Satoshi Nakamoto, planted an
Internet seed and he named his source code Bitcoin. Then he
disappeared. For more than a decade his vision of a peer-to-peer
version of electronic cash has bypassed financial institutions and
spurred hundreds of similar companies to follow his lead.

Who is Satoshi Nakamoto?
It's plausible that not even the Department of Homeland Security
knows Satoshi Nakamoto's real name. For all we know, he may
not even exist. "Who is Satoshi Nakamoto?" is the title of a
popular documentary found on Amazon. The name, Satoshi
Nakamoto, is of the enigmas of Bitcoin, and he might be the
richest man on the earth is enough to spike everyone's interest,
but does he actually exist? Instead of being an actual person,
Satoshi Nakamoto might just be a pseudonym.

You might now be fixated with Satoshi Nakamoto and want to
know his whereabouts or about the people behind the name
Satoshi Nakamoto. What is more troubling is that more than 1200
companies have worked their way into the digital marketplace to
steal your money. You need to consider one of them is Mark
Zuckerberg.

Ask why Zuckerberg wants his own cryptocurrency!
What if you could send money as easily as you could send a text,
Tweet or Facebook post? That's the concept behind Libra,
Facebook's version of Bitcoin and it seems logical until you dig a
little deeper. When you see someone as powerful as Mark
Zuckerberg partake in the massive heist, you have every reason
to worry about cryptocurrencies.

Don't be a part of this worldwide scam, even though you see Mark
Zuckerberg taking the bait and you heard that your cousins ex-
boyfriend's father made a fortune.

Stay away from Cruptocurrencies and here’s why…

#1: Money is trust, and cryptocurrencies don't have it.
When you look at a dollar bill you recognize that it's really just a
fancy piece of paper. The only thing backing the U.S. Dollar is
trust. It's not gold. It's not silver. There's no equivalent value of
gold or silver backing your bucks. In "God We Trust" and in the
United States government. There's nothing backing cryptocurrency
and every prepper should be aware.

The experts have already told you not to trust Cryptocurrencies:

If you don't trust the government, why would you trust an
"alternative" money source?

#2: Cryptocurrencies aren't governed.
In short, cryptocurrencies are dangerous because they aren’t
governed. There's no organization that regulates when to make
more of this digital money. Without a regulating authority there's
also no one investigating fraud. These are just two reasons not to
invest in Bitcoin or any other cryptocurrency:

  • Counterfit Cryptocurrencies. The money is not legal tender.
    There's no authority stopping you from making more digital
    copies of money, though technology prevents you. There is
    one thing that makes cryptocurrencies different and that's
    something called  "Blockchain" — this is a kind of accounting
    which acts like an huge general ledger that records every
    transaction. Blockchain is a central record without any
    policing. That's leaving it wide-open for clever criminal minds.

  • Supply and demand. There's no one regulating the supply of
    cryptocurrency and no one tracking the current demand.
    There may be network delays that also interfere with the
    flow of digital money. Compounding the problem is that
    there are digital rewards for companies who maintain these
    ledgers. This dilutes the Bitcoin pool.

#3: Cryptocurrencies are unsecured.
Bitcoin got its start in source code. There is no protection for
Bitcoin or other cryptocurrencies at all.

In God we trust and in our government money to an extent. We
pay our mortgage and rent with the U.S. Dollar. We buy food and
supplies because we trust the system, but we know that an
event, such as the Great Depression will devalue currency. History
repeats itself and almost overnight the stock market crash of
1929 caused such a mass panic that virtually overnight middle-
class citizens became destitute.

The dollar was on the gold standard before the Great Depression.
Then it went to the silver standard and now there is no standard
for the dollar other than money put into the banks are FDIC
insured. The Federal Deposit Insurance Corporation maintains
stability and public confidence in U.S. money by insuring our
deposits.

The caveat is that The FDIC only covers deposit accounts at
insured banks and financial institutions. The FDIC doesn’t insure
stocks, bonds, mutual funds, life insurance policies, annuities or
municipal securities, even if they were purchased at an insured
bank.

Using cryptocurrency is a bit like dealing with the mafia: it could
be used for money laundering and terrorism. Do you want a stake
in something adored by drug dealers, tax evaders and extremists?

#4: U.S. government doesn’t trust cryptocurrency.
One thing’s for sure is that the government doesn’t trust
cryptocurrency (and neither should you).

It’s like a pyramid club where the only people who are profiting
from development of cryptocurrencies are the people creating it.
Crytocurrencies are a house of cards waiting to fall.

One day Bitcoin is worth $7,435.26 United States Dollars (Oct.
23, 2019) and the next it’s worth

#5: Cryptocurrency is worthless in an emergency.
Cryptocurrency is not tangible, so it’s worthless during an
emergency. Your hands can’t physically touch cryptocurrency. If
you can’t touch it, you can’t use it.

What kind of scenario could there be where cash is hard to get or
use? Usually it involves lack of electricity. Without electricity your
digital currency has zero value. Because it’s a digital currency, in
an ElectroMagnetic Pulse (EMP) or cyber attack cryptocurrency will
be  immediately worthless. Compare that to paper currency which
will have a short lifespan of value and precious metals which will
continue to have value no matter the digital landscape.

#6: Credit card debt.
Zuckerberg is taking the bait, but you can't afford to.You likely
have credit card debt. Use any credit card for tangible preps and
not for investing in this unpredicable currency.

#7: There are hundreds of cryptocurrencies.
The market is currently flooded with hundreds cryptocurrencies as
many as 1300 of them! Some are backed with clever brand names
or have the backing of large companies, such as Facebook. Some
bluntly tell you what they're going to do with your money: they'll
Swipe Swipe it.  

What are the various cryptocurrencies?

Are you ready for a cyber economy? Newsflash: you're already in a
cyber economy. We live with credit cards, debit cards, gift cards,
PayPal and now there's cryptocurrency. It's all digital money, but
the difference is what happens when something goes wrong.

2019 Cryptocurrency Gold Rush
The Gold Rush of 1849 was nothing like this. There's a digital
transformation of our economy that's happening, and like the
original Gold Rush, the people making the money are not the
miners, but the people serving the miners.

  • Blockchain. The people supporting blockchain, which is the
    central record of Bitcoin that acts like an huge general
    ledger, are the people making money.

Preppers should be skeptical of cryptocurrencies!
Preppers have a hungry eye on cryptocurrencies, yet they know
instinctively, like reverse mortgages, that they're dangerous.
Preppers don’t rely on paper currencies, and they shouldn't rely on
cryptocurrencies either.

  • Food is money.  Food really is as good as money. Think of it
    this way, they don't call it a "food bank" for nothing.

  • Precious metals historically have value. Copper, silver and
    gold is the money of the past, present and future.

  • Bartering is currency. Your prepper supplies are money.

Bitcoin claims to be a peer-to-peer electronic cash system. Rest
assured, it's  scam.
Want to know how Crytpocurrencies work? SciShow shares the math behind
Bitcoin.

Cryptocurrency is not a peer-to-peer electronic cash system. Think
of cryptocurrency as a multi-level marketing scheme. Don't trust
them. The government doesn't trust cryptocurrency (and neither
should you).

Happy endings...
Don't say we didn't warn you about Bitcoin and the other scam
cryptocurrencies. Bitcoin even tells you it's a scam. All you need to
do is check the Bitcoin Twitter page profile, which has more than
986.3K followers and reads, "Bitcoin is peer-to-peer immutable
magic Internet money crafted by wizards and hodled by dragons.
Don't trust; verify. Attack our allodial money at your peril."

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