Why Bitcoin is over valued
Author Bitcoin Algorithm
Author CIA Project Bitcoin
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First, Bitcoin played an important role in the start of what is now called Crypto Coins and the project was the genesis of what has become the Crypto Coin Industry.
However, Bitcoin and the rest of the top Crypto Coins such as Ethereum and Ripple, etc. are all grossly over valued. To use an analogy so the general public can comprehend what a crypto coin is, crypto coins are just software programs. That analogy is for me to try to simplify it for layman’s.
If you have been involved in creating software as I have since I was a kid in the mid 1970’s creating software for that era to run on old Mini-mainframes when the miniaturization of computers was just starting thanks to the silicon chip, you would view all crypto coins for what they are, computer programs. My career in technology goes back to 1976 just before the PC industry was created.
After PC’s were created, my mainframe solutions software company was one of the early companies involved in creating business solutions for huge industries such as legal, medical and automotive to run on PC’s and they were toys compared to what we have today. A major problem in the early days of creating software for PC’s to run even a small company was the limitations of collecting data besides having a user interface that was simple enough for a generation of office workers to begin using technology in a generation where a remote control might have been the extent of the technology they ever touched.
After I retired from software development for business in the early 1990’s, I became a pioneer in the early internet and invested heavily in what today are the most valuable assets ever created for almost nothing. That being industry keywords.com. in 1995 to 1997 there was one domain name registration company and a domain name cost $100 to register for two years via NetSol a CIA front for SAIC the company that made $5 Billion or so taking NetSol public. SAIC has been run for decades by a who’s who of retired spooks from both the NSA and CIA.
My first day in the Internet game was registering over 1,000 keywords.com’s. Do the math that was a lot of money in the mid 1990’s to invest in the commercial internet game.
Today a company I founded now operates over 300 business and local search portals. It is 1 Media
Due to my business model of how my IP assets can truly help companies in their industry my network is now valued at over $5 Billion USD. It only uses a fraction of the domain names my trust controls.
For over 30 years every thing I created has held by a Cayman Islands Trust.
My theories in math and physics are in use by many government agencies.
I am the mathematician that gave the world the Prime Number Algorithm which destroyed old encryption or ‘Crypto’ that used to protect banks and even nuclear missile launch codes. Prime numbers had a major use in old crypto before my algorithm destroyed it.
The NSA used my Prime Algorithm to create special relationships in the crypto keys they released through the NSA controlled group known as NiST. So everything coming through NiST is backed doored due to the special relationships the NSA created.
My EOE Theory is now used by many geological organizations in the way earthquake prediction algorithms are created. The USGS has used EOE Theory for understanding natural earthquake phenomena.
My PDF Theory was used by NASA in creating algorithms to detect new planets all over the Universe.
I created BizBytes the first business merchant digital currency that merchants use and trust since it’s value is tied to the USD and not ignorant crypto investor speculation.
So now you know my background and why what I publicly say about crypto coins has moved markets.
Some articles documenting my recent hits in moving crypto markets.
Think of the existing big market cap values of crypto coins as the VC value of early software projects and companies. Most early software companies are long gone and no early software runs anything today for one reason, technology is always changing and improving.
So the thought that these early software projects or crypto coins as humans now call these early projects as being fully developed to run the world and any significant portion of the almost 80 Trillion dollar economy in the form these coins were created in at this early stage in the development of crypto is laughable.
Some concepts are great ideas but they cannot scale to run the big data needs that even a minor global currency would need to handle. Let’s say a crypto coin one day was connected to just $10 Trillion dollars a year in billions of small transactions that businesses be done in near instant speed. The type of network that would need to do the volume of transactions at instant speed is so beyond what any crypto project has at this point in time it’s pathetic.
So, as I predicted in my books on Bitcoin the Bitcoin Algorithm and CIA Project Bitcoin from a few years ago the Bitcoin project will not scale, big data demands on public ledgers over a node network would eventually slow and become too expensive to operate creating slow transaction at very high fees.
Now we can see what I said about Bitcoin has manifested. Bitcoin today is worthless for small transactions the type the white paper was built upon and it is super slow.
In my books I did present a simple value algorithm for Bitcoin tied to one thing, it’s growth in user wallets.
So the phases of Bitcoins value have now occurred as I predicted but now the ugly short comings of Bitcoin are also showing as I predicted. It’s a toy NSA Project that was never intended to run any portion of the global economy. It’s a JOKE.
When the Crypto Market Cap of all Crypto coins reached almost $1 Trillion in December 2017, I started to use the power of my large network and huge social media footprint to alert the world that Bitcoin and most crypto coins were grossly over valued. None of the crypto coins on the market today with huge valuations will ever scale and become a legitimate global currency.
Yet, crypto currency not even created yet, will come on the horizon soon and take over most of the World’s GDP.
I have two projects now that have one goal, to be built to scale to do billions of transactions a day and handle trillions of transactions each year.
The big market cap crypto everyone knows such as Bitcoin, Ethereum and even Ripple XRP will not scale to handle the huge volume of transactions to even match a minor player in the Global economy such as Visa is. How can I call Visa minor? It handles just a fraction of the World’s GDP so it is minor but significant at the same time.
Much of the population in the world have no Visa or MasterCards. That segment of consumers with no credit cards is actually the largest segment of the global GDP that will embrace a truly global digital currency with instant speed and no or low transaction fees. Many of these people now have access to cheap smart phones and many can use a village internet connection to actually use the net today. It is truly remarkable how deeply the net has penetrated almost every region of our planet today.
The original white paper of Bitcoin puts forth Noble and anarchist ideals at the same time. However, the sad reality is the project was direct from an NSA think tank to gain the trust of drug dealers, arms dealers and terrorists that were all using USD cash to do business.
Instead of trying to explain why I say the NSA invented it, which took a whole book to fully explain a few years ago (Read CIA Project Bitcoin). I will just give a few examples.
1. The crypto used is Koblitz Curve Theory. Neal Koblitz is CIA and NSA for almost 50 years. He now has a high level position in Ethereum as well so the NSA has infiltrated both Bitcoin and Ethereum.
2. Satoshi Nakamoto the spook who gave the world Bitcoin was never met by anyone. He doe snot exist and his name is a funny NSA joke pointing to the CIA. His name means The Center of Intelligence and the NSA that created Bitcoin to catch bad people did it to point to the CIA as a joke.
Those two points should be enough of a red flag for most to stop and think and question the Bitcoin project.
Now could Bitcoin survive this? Being an NSA invention. It has rather well.
But now let’s look at this joke in crypto called Bitcoin, as to what is really wrong with Bitcoin today.
1. It is slow.
2. Transactions are expensive, it’s useless in small daily transactions which fuels the World’s GDP.
3. Energy consumption of the Bitcoin network has grown to equal the daily energy use of the entire country of Ireland.
4. No local merchants are now willing to take Bitcoin.
5. Bitcoins unstable value means business merchants will not trust or use Bitcoin.
6. Heavy regulations of Bitcoin and outright bans by government’s are now rocking Bitcoin almost daily.
7. Bitcoins value has plummeted from almost $20k in mid December to almost $9k. Making anyone with a brain and pulse say this crypto coin Bitcoin is just not for me.
Now investors holding Bitcoin will mock what I say and deny the reality of what I say, the reason is they have a vested interest in this crap coin continuing to sucker the public into investing in it.
If people do not start to spread my warning about Bitcoin and how crappy it really is from a tech view point, the crap coin could rebound and hit 25K then 50K and even race to 100K and my book said 500K was the max value it might obtain one day IF the public did not realize it was a crap coin.
Caveat emptor is the best phrase I can pin on Bitcoin.
Let the buyer BEWARE