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- Bitcoin is currently priced at $60,000 per coin. Why did Dan Pena think that it is going to zero? Here are a few reasons:
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Bitcoin’s Compliance and Usage in Illegal Activities:
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Bitcoin is not compliant with ISO-20022, leading to its classification as a blacklisted cryptocurrency.
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The Treasury’s Financial Crimes Enforcement Network (FinCEN) reported an increase in Bitcoin’s use for human trafficking and child sexual abuse material trafficking, with 2,311 reported uses amounting to over $412 million in 2020 and 2021.
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Association of Bitcoin with Illegal Markets:
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The origin of Bitcoin’s association with human trafficking is attributed to its initial popularity on the Dark Web.
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Allegations suggest that government and military entities (NSA, DARPA, CIA) were involved in the creation of Bitcoin, aiming for it to become a global digital currency.
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Bitcoin’s Design and Centralization Concerns:
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Bitcoin is described as a tool for global surveillance through a unique deterministic UUID generated from biometric data, linked to individuals’ identities and transactions.
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Bitcoin is moving towards centralized, hosted wallets which could control transactions and link directly to bank accounts, arguing against the perception of Bitcoin as a liberating technology.
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Technical Background and Conspiracy Theories:
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SHA-256, a cryptographic hash function developed by the NSA, is central to Bitcoin’s operation, raising concerns about its origins and purposes.
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The post suggests a conspiracy where Bitcoin was created under guidance from the IMF, with global financial and governmental entities pushing for a digital, one-world currency, tying it to broader events like the COVID-19 pandemic as a justification for transitioning away from paper currency.
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These points encapsulate the dark market associations of Bitcoin, concerns over its use in illegal activities, questions about its creation and purpose, and the implications of its technical underpinnings and potential centralization.
