Monday, January 13, 2014

Bitcoin and End Times Bible Prophecy

 

10/9/2017, 10/18/2017, 12/11/17; Important updates added at end of post
 
You may have heard the word Bitcoin and wondered what in the world is that? What I will attempt to do in this post is explain the whole thing to you in an easy to understand format and explain why, in light of end times Bible prophecy, how it may be useful in the future.
 

What is Bitcoin?

Plain and simple Bitcoin is a medium of exchange. Bitcoin has been described by some as a digital crypto currency. And you may ask what is that? as they say, It is a currency that exists in cyberspace—let me give you an example that may help you understand this; many people have credit cards that issue reward points or reward dollars. These rewards are essentially a digital currency—only exist in cyber space--that you can use to purchase goods, services, or even with some companies redeem them for cash. So we are told that essentially Bitcoin is the same type of thing, it is a digital currency, that you can use to purchase goods, services, and redeem for cash. If you make electronic payments with your bank account you are essentially doing the same thing except in your country’s currency. BTW 95% of all money in the world is digital.
 

Why use Bitcoin?

One of the reasons that so many people are getting involved in, and using Bitcoins in transactions, is because they see it as an alternative to their currency that is losing its value through its increasing supply—that brings about inflation. Whereas by design there will only be 21 million Bitcoins created or should we say mined. Thus the currency supply, once the 21 million are released, will never be increased and thus their value will not be watered down through the endless creation of more of them as is the case with many currencies.
 

What gives Bitcoin its value?

The trust, usefulness, and demand people have for it. If people trust it, can use it, then they may want it, and therefore it will have value established on the open market by how much someone is willing to pay for it. So the value is a pure reflection of demand. At this writing, one Bitcoin is worth about $900 USD.
 

How can I use Bitcoins?

There are companies and individuals all across the world that accept payments for goods and services in Bitcoins. You can also sell your Bitcoins for USDs or other major currencies.
 

How can I get Bitcoins?

First you have to obtain a digital wallet to store your Bitcoins, which is free. Here is a link offering many different types of wallets; http://bitcoin.org/en/choose-your-wallet. Once your wallet is set up you can purchase Bitcoins and or mine for them. There are numerous exchanges that you can buy Bitcoins from. Here is an article listing them; https://en.bitcoin.it/wiki/Buying_bitcoins. You can also purchase them from individuals or offer goods and services in exchange for them.
 

You can also mine for Bitcoins. Mining is the process whereby your computer solves complicated arithmetic problems and upon solving the problem you are awarded Bitcoins. Efficient mining requires the purchase of Bitcoin mining hardware that will range in price from a few hundred dollars to thousands of dollars. Once you have your mining hardware you can download a simple program from a mining pool group and then you can start mining.
 

Should I get involved?

That is your decision, and yours alone, and none of this article is to be taken as financial advice, but let me tell you why I got involved. The main reason I got involved was to have a hedge against what many economists have been saying for many years—that one day the dollar and other currencies will crash. I see Bitcoin as an alternative currency that may be used as a store of wealth to hedge against inflation and to hedge against the eventual collapse of the currencies of the world. Also if Bitcoin catches on more than it already has, the value of a Bitcoin will naturally increase—so it also has the potential to increase your wealth.
 

What are the risks?

If people lose trust in Bitcoin, its usefulness declines, or its demand decreases, then its value will go down, and all or some investments could be lost. Also Bitcoin is dependent upon electricity and the internet, without either it would cease to exist. But I think electricity and computers will be around for most of the world until at least the rapture, because they will need computers and electricity to run their mark of the beast system.
 

Is Bitcoin a step toward a global currency and thus bad?

In the sense that it is a technology or idea that may be used by the globalists; Yes, but so is electricity, computers, the internet, rfid chips, cameras, scanners, etc. Just because a technology or idea may be used by evil people does not make it bad. They do not need Bitcoin to establish a global currency, there is already a defacto one now—an individual can already conduct transactions throughout the world—think Paypal. The only elements they need to add to the current monetary system to bring about the mark of the beast system is to require a chip in an individual’s hand or forehead in order to buy or sell. So the mark system boils down to a matter of control of monetary transactions. Bitcoin takes control away from the PTB and gives it back to the people. And even though they may use the technology, I do not see Bitcoin as a step toward the ac system but a step away from it, because it takes control away from the PTB.
 

Conclusions

Bitcoin is a crypto currency that I think may provide a hedge against inflated collapsing currencies. There is also the possibility that it may go bust. Whether you get involved is between you and God and none of this post is to be considered as financial advice. Let me also reiterate that after the abomination of desolation occurs and Seal 5 is opened, that no one will be able to buy or sell without the mark of the beast, and Bitcoin may offer a way to transact business at that time without taking the mark, but then again, maybe not, time will tell. I still view the ultimate hedge against collapsing currencies and the coming mark of the beast system as gold and silver—which is one of the oldest forms of money in existence. 

I may be wrong but the way I see it is that Bitcoin is a currency for the people of the world who are sick and tired of the world’s private banks stealing their wealth through currency devaluation schemes. That is why I believe the central banks hate Bitcoin, because it threatens their very survival. Greenspan said Bitcoin is a bubble. I believe he is wrong, I believe the exact opposite is true, the dollar is a bubble because of the massive amount of debt and money printing, it and the other currencies of the world will one day collapse as the Bible predicts (Seal 3). And it will not be the fault of crypto currencies when the currencies of the world collapse, because the world currencies are already collapsing, it will be the fault of those at the top. And let me remind you that it is the world banks that are at the forefront of the coming New World Order and they do not like Bitcoin, so what does that tell you? 

When the currencies of the world collapse they are going to create a new monetary system in which one must bow down to their leader and take their mark in order to buy and sell. The question is what are you going to do when that time comes? Are you going to bow down, or are you going to try and live free of their system--of course no true Christian will bow down to them but will trust in the Lord to prepare now and provide until the rapture occurs. 

So I see Bitcoin as a currency for the people by the people, and in my mind a vote for Bitcoin is a vote for yourself and the return to a currency free from inflation and the control of the PTB. I also see Bitcoin as a possible way to conduct transactions after the mark of the beast comes about. 



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Update 10/9/2017: I have some thoughts to add concerning cryptos. There are many situations that could cause the government to make all crypto currencies illegal--I think this may be coming. I also believe that the government will come out with their own crypto currency and will most likely make all others illegal. There are also way too many crypto currencies. Also crypto currencies that say they have a limited number, like Bitcoin, can split and thus inflate the supply.
 
I think the idea behind crypto currencies is great but I do not think the goverments are going to allow it much longer. In the meantime, I think that money can be made with buying and selling cryptos, at the same time I also believe that its future may be limited. Maybe I am wrong but that is the way I see it.
 
With the recent situation in Puerto Rico--no internet, no electricity, no use of cryptos either--Cash or bartering is King. I also believe that one day and maybe soon that the fiat currencies of the world will collapse. Leaving precoius metals--the oldest form of money--and other bartering items as the "last men standing." Many think precious metals are poised for a major bull market, especially silver.
 
Update 10/18/2017
 
I told you;
 
 
Vladimir Putin: Russia Will Issue its Own Cryptocurrency


Update 12/11/17

I just ran across an excellent article at Zero Hedge with some great insights from some crypto giants with some good advice regarding cryptos and gold/silver. Here is a snippet I recommend reading the entire article.

An Expert's Take
I had the chance to ask these questions Wednesday to a long-time veteran in the digital currency space....

He thinks the current price action is "nuts":...

But he's not worried in the long run:...

He admits that Bitcoin could lose out to a superior successor:..

He expects the world's central banks to criminalize the cryptocurrencies:..

Don't Ignore The Revolution

While we've made the case that Bitcoin's current run-up has been "too far, too fast" and a painful correction is highly likely, the new cryptocurrency era is a bona fide revolution. The underlying technology of the blockchain will transform industry and commerce on a similar scale as the Internet has.

http://www.zerohedge.com/news/2017-12-09/if-you-dont-own-any-bitcoin-read

Watch ye therefore, and pray always, that ye may be accounted worthy to escape all these things that shall come to pass, and to stand before the Son of man. Luke 21:36 

The end times are knocking on the door and so is Jesus. He wants to save you, will you let him in? Find out what you must do to be saved here. 

William Frederick is an end times Bible prophecy researcher who has written a must read prophecy book entitled The Coming Epiphany which is available in paperback and for the Kindle on Amazon.com. 

He has also cracked the hidden codes on the dollar bill that have staggering implications which are explained in his book The Dollar Code; also available in paperback and for the Kindle on Amazon.com.

 

8 comments:

  1. A very clever idea with an even more impressive marketing ploy. "The untold story of how Thomas Edison, America's most celebrated inventor, tried to create an entirely new system of U.S. currency as a way of addressing social problems and stabilizing his nation's economy” No doubt Thomas Edison had a more rational and compassionate reason for a more fairer and equitable money system for all, when he introduced the prospects of a different type of medium of exchange called the bitcoin or better known in his time as the Edison coin. What I see here is the hysterics prevailing from the doomsday prophets, trying to cash in on the end-times prophesies. As was the colonial town-crier warning the townsmen of the impeding danger of attacks, so is the Bitcoin cyber-carpetbaggers today willing to scoop up all the dollars they can and exchange them freely for bitcoins. Let’s get real. If there is only 21 million bitcoins being offered for exchange on the open market, who is better able to hedged his bets and protect his assets then the wealthy with billions of dollars to invest in bitcoins? Right now the feds are investigating major crime syndicates attempting to launder millions of drug money acquisitions into bitcoins exchanges. Anyone with half a brain that knows anything about economics, knows that a commodity or resource in short supply increases in value as its demands increases. 21 million bitcoins will be garble up instantly by the wealthy or corporate institutions, if more Bitcoins are not produced on the open market, which I am more than sure they will be. Like gold, they will be higher in value than gold, as the wealthy will hold onto them (or buy even more) to gain more control of resources, people and power (“No one will be able to buy or sale”.) One of the most frustration things people face in this fast technological age is security and privacy. Cyper-thieves are increasingly finding cleaver ways to breach security systems to steal personal ID information and empty our bank accounts. Government and big companies are creating ingenious software either to track our whereabouts or spy on our purchasing habits to sell us more worthless products. The Mark of the beast (666) will require a single sign-on entry chip (fingerprint, iris, voice, DNA, micro implant) eliminating passwords to access all goods and services in the future via our banking or phone systems. If the powers-that-be will only accept the “Mark of Beast” controlling all the communication systems through electronic means and computers, the perplexing question would be how do you access the Bitcoin system if the their filtering interface Servers will deny you connection access? “Who told you to escape the pending wrath to come?” There is no escaping “the Mark of the Beast” Either you accept the atoning grace the Master (Christ Jesus) is freely extending to you for the remission of your sins; and him as your Lord and Savior and the eternal life to come, or you accept Satan and his Beast and his World System to come. As simple as that! Resistance is futile!

    Sea (2014 3 3)

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    1. World banks make their money through lending it to us and charging us interest and then when we are out on money they create more so we can pay them more. This debases the value of the currency and they get rich and we get poor.

      Bitcoin can only have 21 million made and thus as you have correctly stated its value will increase with use and demand. But bitcoins are also divisible to I think 6 decimal places. Thus there are 21 billion thousandths of a bitcoin and 21 trillion millionths of a bitcoin.

      Yes criminals have used bitcoins but most of the crimes ever commited have involved dollars. So does that make the dollar evil?

      You are correct that the mark will come and no one will be able to buy or sell without it. But there may be ways to acquire things from benevolent individuals through bartering. Bitcoin may provide a way to barter with your neighbor--maybe not--time will tell.

      BTW God's wrath does not start until after the sixth seal is opened and the rapture occurs. The mark is part of seal 5 and the persecution of the antichrist--known as the great tribulation

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    2. I agree with you William, but if I may add, Bitcoin goes to the 8th decimal point.

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  2. "The only elements they need to add to the current monetary system to bring about the mark of the beast system is to require a chip in an individual’s hand ..." Isn't the cell phone "a chip in an individual's hand"? Seems to me there is an alignment happening leading to prophecy. This is no different than any other time when Satan uses what God intends for good for his own desires. In the meantime, we can live by faith in His promises rather than in fear of the devil's lies. God bless.

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    1. The chip is close, after the economic collapse, people will be begging for a solution--here comes the chip--the answer to all the world's problems.

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  3. Problem reaction solution. Who is that man behind the curtain...

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    1. Could be, or it could be people trying to beat them.

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