HODLing Bitcoin From One Natural Disaster To The Next

by Jeff Berwick, The Dollar Vigilante:

Those who follow me on Facebook know that I reported live this week from Hurricane Max in Acapulco, which luckily just missed our area, as opposed to four years ago today where a tropical storm wiped out some local towns and our anarchist rescue team helped in the recovery.

I then arrived yesterday in Mexico City just in time to live stream the 7.1 earthquake that hit the area. (*Note: I spent the evening with Jose Rodriguez of Bitso.com who had been helping the recovery all day and has started a fundraiser to help people in Mexico City HERE.)

jeff.jpg

Damage at the airport wasn’t bad but most flights were cancelled and I ended up scouring the airport like a vagrant for hours looking for my bag and then searching the entire city for the one remaining hotel room… which the damned price gougers had at $2,000 US for the night… albeit it was the Presidential Suite at the St. Regis. Thank you, by the way, price gougers.

As I write now I am finally on my connecting flight through to Houston, then Denver, then Aspen for the Nexus conference.

Before leaving Anarchapulco, though, I did an interview with the Silver Doctors about bitcoin where we talked about the Chinese fiasco... namely that the Chinese government threatened to kidnap or kill anyone operating a bitcoin exchange within their arbitrary, illusionary sphere of extortion. If I haven’t said it before, let me say now, f**k you, Chinese government.

In any case, as I pointed out, this will essentially prove to be futile in the grand scheme of the cryptocurrency market. All that the Chinese government can do is threaten its citizens with violence to scare them into closing down major exchanges in the mainland.

This will result in forcing existing mainland exchanges to move their operations elsewhere to places like Hong Kong and Singapore. And, eventually, into decentralized exchanges which exist exactly nowhere… try threatening code, government!

As I have said in the past, it is impossible to end bitcoin with a government decree. Bitcoin don’t care, it’s the honey badger of currencies and is based on emotionless mathematical equations. Exchanges, which are centralized, can fear the boot of government stomping down on their faces, but the bitcoin blockchain knows no fear.

Check out the full interview here which goes into further depth about these aforementioned points.

Hopefully there aren’t too many more natural disasters in my near future… but we are nearing September 23rd, which many speculate will have a major event… and today is actually the end of the Jubilee year… if it is this year.

Read More @ TheDollarVigilante.com