Sandra Phlippen of AD Newspaper, owned by a Belgian private information company, in the Netherlands, implores the citizens of spend all their Bitcoin now in order to avoid the supposed inevitable crash. The Economist states that Bitcoin is building at a point where, when – and not if – it breaks, it will be so big that it would destabilize the real economy.
The argument is that Bitcoin is already a threat to government and undermines the central authority of banks in sovereign states. Thus, as it grows, it will cause irreparable damage to the economy, and again when – and not if – it collapses, she says the damage will be gigantic. The recent growth spurt has a lot of people talking about both sides of Bitcoin. Some are enthusiastic about the adoption and the associated price jump, while others are afraid of the height of the roller coaster.
Phlippen argues that, with information coming from Joshua Brown, a New York financial advisor, on his private blog, that Bitcoin needs $ 17 million a day to continue without crashing . As more and more interest is moving towards Bitcoin then, it is argued that this figure will increase. But because it's still a new market, it could start to miss the predicted magic figure.
"Speaking of the dot-com boom, I think that's the same thing.The people who buy the most in this craze, in an emotional sense , were in primary school for that. "
Weakening the Government
Phlippen's biggest fear of Bitcoin, however, is that it undermines the government. She launches the usual rhetoric about tax evasion and money laundering. Moreover, it is worrying, she says, that the additional revenues from Bitcoin's growth in the citizens' portfolios can not be used for the benefit of the centralized government. This is the problem of the tax on earnings and anonymity that makes citizens unpleasant to the author.
The imbalance of the central bank
Phlippen does not only highlight the fate of the government. Phlippen says:
"Central banks also have less influence on maintaining the stability of the economy.In times of crisis, central banks can, through their influence on ordinary banks, relax the credit conditions and encourage people to consume.The bank has no control over the economy of Bitcoin and an economic crisis may become deeper. "
What to do?
Through all this, Bitcoin's morbidity becomes so great that she Phlippen's advice is: "sell"
"So, there is no nothing else, dear Bitcoin fans, that Bitcoin can only crash very quickly, so before it disrupts our economy, if I had one, I would sell it now. "
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