Since my last update (March 23rd) the Bitcoin exchange-rate has exploded 200%, printing $240 at one point yesterday. The Bitcoin has now converted over $2.5 Billion worth of debt into a mathematical code that be trusted and used to send and receive money anywhere in the world, without fees, interference, or funny looks.
The Bitcoin is a decentralized crypto-currency based on an open-source, peer-to-peer internet protocol that is 'mined' into the marketplace by computers that solve mathematical algorithms and that verify and archive every transaction to a ledger or log called the blockchain. Bitcoin transactions flow around both the bankers and the bureaucrats, providing an unparalleled level of privacy and protection. The articles below are recommended for clients and friends interested in learning more about the Bitcoin.
Jeffrey Tucker: What Bitcoin Is Teaching Us
Every expert will tell you that the state has to create and manage that money. If we do not do that, we'll have chaos on our hands. Bitcoin proves the opposite, that a money can emerge from within the market itself, based purely on voluntary behavior, and needs no privileged elites to manage it. That is an essential postulate of the free society.
Bitcoin Obliterates "The State Theory Of Money"
Believing that governments have sincere and good intentions in administering the monetary system is akin to believing in fairy tales. Control of the monetary system serves one and only one interest - the unlimited expansion of the sovereign's spending activity to the detriment of the unfortunate users of that monetary unit. Decentralized Bitcoin obliterates this sad state of affairs.
Trace Mayer: Why Michael Pento Should Just Keep His Mouth Shut!
One aspect of technology is that it takes intellectual capacity along with consistent and diligent effort to become competent. Those who have failed to engage in technological preparation are at a severe disadvantage to those who have. Mastering Information Age tools, like Bitcoin, gives one a huge advantage over those merely using Industrial Age tools just like the Steel and Bronze Ages. And the longer one procrastinates adopting the new technology the further and further they fall behind those who do. Bitcoin merely monetizes the individual's success or failure with adopting a new technology.
Trace Mayer described the Bitcoin recently as 'Money Over IP'
Our Bitcoin 'Arbitrade' is Now Up 700%!
Below is the most recent update on our bullion4bitcoin arbitrage, which I shared with the community at Bill Murphy's LeMetroPole Cafe' on April 2nd below (the BTC exchange-rate has doubled since):
Sent: April-02-13 10:16 AM RE: Bullion for Bitcoin Update
Hello Bill, I thought I would check-in with some good news on this MOST ridiculous day. As of this morning our Bullion for Bitcoin arbitrage is now up a huge 340%! The 112 BTC we earned for one-hundred ounces of 999 fine on February 15th is now worth $12,880 (at $115 BTC/Cad), which will purchase approximately 440 ounces of Silver at $29 per ounce (0.2512 BTC/oz). As I write to you the Bitcoin is trading on Mt Gox at $108, and the global market cap is $1.14 Billion, approximately the size of Mr. Sprotts net worth ($1.22B according to Wiki, but likely much less today). If the Bitcoin's growth should slow to 25% monthly for the balance of the year, from 100% plus, the Bitcoin exchange-rate would be somewhere north of $550 and the market cap around $6.5 Billion, or roughly ½ the size of Silver Wheaton. Sounds crazy I know, but for this to happen the Bitcoin needs only to absorb 1% of the Fed's monthly pump and dump operation. Cheers!
Happy to Help ..
The Bitcoin is not a fiat currency -- it enters the market under a strict mathematical protocol and not by decree.It is in fact a deflationary currency, trading freely and fairly in a global financial world polluted with infinite fiat money. The Sovereign Exchange has recently aligned with Canada's largest Bitcoin market-maker and can help guide you through the steps required to activate an account and build a Bitcoin position, with your fiat cash, bullion, or with your Sovereigns.
Eric Sprott: Caveat Depositor
We are faced with a new paradigm, or "template", for how a major central bank will address weakness in the financial sector. While the old template involved "bailing out" through transfer of risk from the corporate sector to the taxpayer, the new template calls for bailing in, whereby the risk is contained within the affected institution at the expense of equity holders, bond holders and finally the depositor.
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Sovereign Exchange International Ltd.
Steven Merrill, President
www.sovereignize.net
phone:
778.835.7667
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Engage a Rich New Audience; Reconcile to your Private Account; Settle for Metal at Any Time. The Sovereign Exchange was founded by Steven Merrill and a small network of individuals from across British Columbia with a vision to embrace Austrian economic principles and provide a sound and stable payment facility than be trusted for commerce and used to store wealth.
