Activist Tommy Robinson Turns to Bitcoin After PayPal Ban ...

BitCon - One man's opinion

"Q - The Bitcoin community claim they have created money without government if they live within the Bitcoin system. What’s your reaction to this claim?
A - But you cannot live within the Bitcoin system. It’s impossible. Sure, you can buy bitcoins with your dollars and fool some people into thinking you’re living on bitcoins. But you’re not. To manage it, you need a circular flow of income, and with bitcoins, there is none. Every time you purchase something with bitcoins, as soon as the sellers of the goods and services turn it over to Coinbase or Bitpay to convert it back to dollars or pounds, each purchase becomes a sale of bitcoins. That way, no one’s holding this stuff.
Equally, when you look at the real statistics, you find that a lot of the numbers the Bitcoin faithful claim as usage, are outright phony. The faithful say there are 110,000 transactions a day, but only about a thousand of those transactions are for the buying and selling of goods and services. The rest are miners moving bitcoins between different wallets and address, and gambling. On top of that, there is what’s called “the change factor” which means each transaction gets counted twice. Next, the faithful say, there are eight million wallets. What they don’t tell you is that almost all of them are either empty or near-empty. In truth, Coinometrics at Cambridge says that fewer than 250,000 wallets hold one bitcoin or more. That’s not 250,000 people, that’s wallets, and most people have multiple wallets. Based on that, I am correct when I say, there are more people who are members of the Kuwait Airways frequent flier club than there are people on the planet holding bitcoins."
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The wallet itself is really good, and I use to love that I was able to buy bitcoin from these people since they are more close to the original people who created bitcoin, so I trusted them a lot more than other websites. And I noticed people complained about them advertising BCH so much but it was never a problem for me to just switch to BTC if you wanted too. However recently they stopped ... Jeffrey Robinson. Interviewed by Brian Ritterspak. From the Sunday Times to Val McDermid, the praise for such sardonic and skilful Jeffrey Robinson thrillers as The Monk's Disciples and The Margin of the Bulls has been unstinting. With his new book in the shops, it seemed time to catch up with him. You're a prolific writer - what's the current count? Jeffrey Robinson, a well-known writer on financial crime, has vented his spleen about the hype surrounding bitcoin. After skyrocketing to more than a thousand dollars in price late last year and attracting global attention, bitcoin, the leading digital currency, has stalled. Robinson is now embracing Bitcoin due to PayPal banning him from its platform. PayPal Lowers the Boom on Tommy Robinson. Robinson had been using PayPal to raise funds, notably for his ongoing ...

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Where did bitcoin go wrong?

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