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Former SEC Enforcement Attorney Explains Why “Bitcoin’s Price Is Rising”

Validated Individual Expert

Bitcoin’s price is suddenly shooting up like a rocket for one obvious reason: Market Manipulation.

A recent Forbes analysis of 157 crypto exchanges found that 51% of daily bitcoin trading volume being reported was likely bogus (and that was just the tip of the iceberg).

Matched trades, washed trades, sock puppets and other grift artificially inflate bitcoin, which is not only a vague, vacuous, feigned, counterfeit, spurious and nonsensical “digital asset,” but also contains no balance sheet, no cash flow, no revenue, no net income, no losses or any other indicia of monetary value.

Meanwhile, the bitcoin marketplace operates amid a mammoth and perilous regulatory vacuum of epic proportions with no oversight, no consumer protections, no auditing, no inspections, no examinations, no net capital requirements, no insurance, no licensure — zero, zilch, no US government supervision or surveillance of any kind.

It is axiomatic that bitcoin will always remain mathematical computational blather, which offers no product, no service or any other financial benefit of any kind. It’s not just that the emperor has no clothes, bitcoin traders are betting on the fashion preferences of a poltergeist. It’s all one big hustle.

Famed tech expert and Unix system Administrator David Gerard explains the current fraud and chicanery at: https://lnkd.in/gcArUxdg

https://www.linkedin.com/posts/john-reed-stark-3806866_david-gerard-davidgerardcircumstancesrun-activity-7020010814497574912-uGxx/

Bitcoin Bitcoin $115,860.36
+0.38%
SEC Bitcoin
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