(The Second Blog Post) - The Trap of Cryptocurrencies From First Hand Experiences

The following information should be assimilated and remembered as a learning experience where you don't have to experience anything like it yourself. To gain the knowledge of what you should not do with cryptocurrencies; simply read and comprehend.

In 2009, the so-called Satoshi Nakamoto a person whose identity is still secret, created the first cryptocurrency, Bitcoin. Now fast forward to 2017 and I and many others worldwide had their cryptocurrency funds stolen in international fraud which was enough to make me see the light and get out.

Silver and gold are the only true money sources that have lasted through time and will continue to last through eternity. I realized that if you don't physically have it, you don't own it.

(What Happened To My Associates and Myself)

In 2014 the whole cryptocurrency evolution was pretty much in full swing. I and thousands of owners globally were a part of a co-op marketing firm similar to E'bay, Walmart, JC Pennies, Fingerhut, Wayfair, and a multitude of other similar business entities along this line. In effect, we had built up our own economy where we interacted with members only.

In effect, you had to be a member to do commerce within our worldwide economy similar to the model of Sam's Club. We could buy and sell between members having our money flowing through a central banking system that we personally owned and could draw cash from our accounts every month if desired.

All purchases mainly centered around electronic items, recreation items, clothing, new inventions, communication items, plus many other categories. We had free advertising so no commercial outside ads were flooding our system.

I joined in 2015 and the overall view that I had of the operations was a well-polished operation. We had a customer service department, a banking department, and a marketing assistance staff which assured that all customer complaints were handled promptly.

In late 2016 all operating members received a memo explaining the cryptocurrency evolution and how we as a group might prosper from it if universally we would vote to change our operations charter.

Every member was educated about blockchain technology, existing cryptocurrencies, and how we as a group could take advantage of the new operations. So we had a vote about placing our whole operating system on a blockchain and developing our own cryptocurrencies. The vote was unanimous to convert which we did. Everyone's cash in the system was converted into our own cryptocurrencies in proportion to the assets that we had built up.

We felt that our own personal cryptocurrencies would overtake bitcoin and the others which existed at that time because we already had our own personal economy. Speaking about myself only, my blockchain assets were worth around $85,000 after the conversion was over.

Our initial start-up took off like a freight train without breaks; you could probably see why many of us felt that we would individually generate millions by the end of 2017. However, little did we know about what was about to happen internationally.

(The First Attack on The Entire Industry of Cryptocurrencies)

Here is a general video as to why Bitcoin crashed CLICK HERE 
The first attack was in April 2017, when around 4.000 BTC were stolen and the second one took place on December 19, 2017, when approximately 17% of the assets were stolen (it is not clear what the amount stolen is). After this second attack, many companies reported that the negative activity would cease. 

In December 2017, the United States and the United Kingdom formally asserted that North Korea was behind the attack which took us from seeing a bright future to losing 95% of our accumulated cryptocurrencies.

Every day I think that if I would have had all of my funds invested in silver instead of cryptocurrencies; The $85,00 that was stolen from me would be well into the millions of dollars by now. CLICK HERE  


(What Is Happening Now)

In recent years, the investment and technology worlds have become saturated with cryptocurrencies, blockchain apps, and related ventures and projects.

Despite the tidal wave of new digital currencies that has transformed the market, there has remained a single digital currency that has held the attention of the public more than any other: bitcoin (BTC). The following video is about how manipulation; Also it can give you an idea of what will be happening soon. CLICK HERE

According to a report in Bitcoin Magazine, one of the earliest attempts at creating a cryptocurrency actually predates bitcoin's creation by about 20 years. Petrol stations in the Netherlands were suffering from nighttime thefts.

Rather than post guards and risk their safety, a group of developers attempted to link money to newly-designed smartcards. Truck drivers who needed to access the stations would carry these cards instead of cash, and the stations would not have paper money lying around. This may have been the earliest example of electronic cash, which has links to digital currencies as we know them today.

Now as Bitcoin increased in popularity and the idea of decentralized and encrypted currencies caught on, the first alternative cryptocurrencies appeared.

These are sometimes known as altcoin and generally tried to improve the original Bitcoin design by offering greater speed, anonymity, or other advantages. Among the first to emerge were Namecoin and Litecoin. Currently, there are over 1,000 cryptocurrencies in circulation with new ones frequently appearing.

(The Scams and Theft Factors)
Perhaps unsurprisingly for a currency designed with anonymity and lack of control in mind, Bitcoin has proven to be an attractive and lucrative target for criminals. In January 2014, the world’s largest Bitcoin exchange Mt.Gox went offline, and the owners of 850,000 Bitcoins never saw them again.

Investigations are still trying to get to the bottom of exactly what happened but whatever the story, someone dishonestly got their hands on a haul that at the time was valued at 450 million dollars. At today’s prices, those missing coins would be worth $4.4 billion.

(What Is In The Making)

Ethereum and ICOs are something that you should know about. One cryptocurrency came close to stealing Bitcoin’s thunder, as enthusiasm grew around the Ethereum platform.

This platform uses cryptocurrency known as Ether to facilitate blockchain-based smart contracts and apps.  Ethereum’s arrival was marked by the emergence of Initial Coin Offerings (ICOs).

These are fundraising platforms that offer investors the chance to trade what are often essentially stocks or shares in startup ventures, in the same manner, that they can invest and trade cryptocurrencies.

In the US the SEC warned investors that due to the lack of oversight ICOs could easily be scams or Ponzi schemes disguised as legitimate investments. The Chinese government went one further, by banning them outright.

(It Is Time Be Smart)
Yes be smart and purchase as much silver that you can; Soon you won't be able to; as people with vision become wealthy from silver others will be dumbfounded as to their situation, even though you are being warned right now.

Robert Kiyosaki, Kim Kiyosaki, and Harry Dent have some pre-crash information about Bitcoin that you should know. For the video 

CLICK HERE

You must set up an "Amazon Silver and Gold Account" now while you can. Smaller firms are drying up and soon will have nothing to sell, just at the height of the silver demand. I personally had to drop three of my silver suppliers during the height of COVID 19 because they could not deliver on orders. However, Amazon has jumped into the void and is now filling every order promptly, both nationally and internationally. 

CLICK HERE