Bitcoin Ben on the G20, ETFs, BTC, and Hyperinflation Control



The July 24th edition of the Bitcoin Ben VLOG is worthy of discussion, as Ben delves into the details of what he thinks will cause the next major launch of Bitcoin.

At the G20 meeting, Bitcoin Ben states that the group did not disclose the portion of the discussion where they agreed that the member countries would not have a deflationary conflict with their currencies.

The week before, he claims they were talking about how horrible cryptocurrencies are, and how they need to be banned. However, he goes on to explain that they aren’t going to do anything about cryptocurrencies because they don’t see them as a threat. Now they see them as a tool. This is quite a change in attitude.

The "global elites", as he calls them, don’t “invent” anything as it relates to true wealth. They don’t create anything of substance. Rather, they leach off of the inventions of others. He thinks what they have decided and recognized that they’ve found a new valve for deflation. They want to capture the wealth that they’ve "printed" into inflation. He explains that they can’t put it into shares of stock or currency anymore, because the stock market has been made too top-heavy. If they add anything more to it, he claims it will "fall over".

BTC surpassed 8,000 in July, which was a major psychological marker. However, he states there isn’t that much buying pressure. Bitcoin Ben believes that someone with a lot of money had to push through that 8,000 barrier. He thinks that the elites are now getting involved, buying as much bitcoin as they can. I do believe that there is some amount of validity to this belief, because we see that the market has continued to slide since the brief run to 8,000 BTC.

Before the announcement of the "ETF", or "Exchange-Traded Funds", he believes the elites are going to buy as much BTC as they can because they know what he (Ben) is saying to be true. The ETF, as Ben states, is going to be the tool or the "valve" for the inflation that the G20 has been printing in currency.

He believes that the people who are getting into the market now are the small players. The big players are starting to enter now, and that’s why we have had the recent growth. Between now and the launch of the ETF, Bitcoin is going to continuously go up. There will be dips, and Ben recommends that everyone buy on those dips. Last year, BTC jumped from $6,000 to $20,000 in three weeks flat. This is possible again, as he states.

"Once the inflation valve, the ETF, is turned on, that’s when the inflation pours in. As soon as the valve is turned on, the elites will already be holding positions. Once they launch one ETF, the price will skyrocket. Not all ETFs will play by the rules. There will eventually be a lot of ETFs based on LTC, ETH, ETC, and more", as Ben explains.

"There are two things that the elites must insure. They have to control inflation without raising interest rates as much as possible. They also have to keep the inflation away from commodities like bread, food, and silver. Silver is too important to industry to let the price rise. If silver were allowed to skyrocket, the solar panel market and the smartphone market would be destroyed, along with several other markets."

Ben believes that the global elites need a commodity that is structurally fundamental to the marketplace for their manipulative inflationary purposes. Once the inflation tap is turned on, it will make the Bitcoin market run. Bitcoin will continue to move up from here. "We will see a run that makes last year’s action look like a practice run."

Time will tell if Bitcoin Ben's commentary is accurate, and comes to pass. I do believe that his comments have validity, and it will probably be revealed in early September when the final decision is announced concerning the approval of Exchange-Traded Funds. Until then, it looks like the bear market will continue.

I do believe that the news of ETFs will at least push the market into an accumulation/consolidation phase, even though several prognosticators believe it will launch us into the bull market. But as I have always said, we have never seen the stock market or the cryptocurrency market skip the vital developmental stages of distribution (bear market), accumulation, and then consolidation before the final markup phase (bull run)

Keep your eyes on the charts, and we will see!

Carlton Flowers

SEC & CFTC to Decide Fate of Ethereum Network on Monday, May 7th 2018


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The SEC and the CFTC laws will decide on whether or not Ether, the second largest cryptocurrency, is a security on Monday May 7th, 2018. The question boils down to how the ICO for ETH, which raised $18 million through 31,000 Bitcoins collected, was executed. The CFTC, or “Commodities Futures Trading Comission”, regulates futures and options markets in the United States and guards against fraudulent conduct.

Ethereum is a network that was created by Vitalik Buterin. The pre-sale or “Initial Coin Offering” was conducted in 2014. Ether is the “gas” or fuel that powers the projects hosted by the Ethereum network. Ether is traded under the symbol “ETH”, and its value fluctuates daily.

After studying the token pre-sale and the ICO, cryptocurrency experts at Coin Center state that ETH is definitely not a security and therefore was not required to registered with the SEC. As ETH is used as “gas” on the network for deploying smart contracts and other projects with real-world use, it is not a security and should not be judged as such.

There are three possible outcomes of the regulatory meeting on Monday.

1. The FTC and CFTC declare ETH to be a security, outright

This would be the worst-case scenario for the crypto asset community. It is the least-likely scenario because the ETH community has a lot of large and powerful members who have the ear of regulators. ETH would probably experience a steep decline along with the vast number of ICOs that have taken off from the ETH platform. The only cryptocurrency that would be safe would be Bitcoin, or any other coin that is transparent, and has not been built on the ETH network.

2. A “Light Action” will be levied against the Ethereum Foundation

The Etherium foundation was created in such a way that they could have sold securities. However, the way ETH is used today is definitely not in a direction of selling securities. A light action could be levied against the foundation, such as a fine or penalty. It would provide a little bit of regulatory clarity as a result and could give a boost to the cryptocurrency market as a whole.

3. The regulators rule flat-out that Etherium is not a security.

If this is announced as the official outcome, it could spark a massive run on the crypto market. If the regulatory agencies go this far in backing off of the Ethereum Foundation, it will give a major confidence boost to investors.

There also could be a scenario where no final decision is made after the meeting with the regulator, but this is not likely according to the experts.

We will be watching closely, and will be ready to discuss the outcome when the news drops! Until then, hold on tight!

Carlton Flowers
The Crypto Pro