The Phaserl


Bitcoin Gets WinkleF*ked By the Criminal SEC Organization

by Jeff Berwick, The Dollar Vigilante:

Last week we heralded, “Bitcoin Is Now As Good As Gold, Actually, It’s Better”.

It was a bit tongue-in-cheek, and I knew it’d get the gold crowd whipped into a frenzy. But, the point was, for the first time ever, the value of one unit of bitcoin surpassed the value of one ounce of gold.

At the time it was around $1,250.

Today, though, gold bugs will be happy to know that bitcoin just got Winklef*ked back down below the price of gold…. To $1,100 as of the time of this writing.

Bitcoin had been soaring in recent days on the anticipation of a ruling by the SEC on the listing of a bitcoin backed ETF.

Today, the U.S. Securities and Exchange Commission (SEC) disapproved the proposed Winklevoss bitcoin ETF (COIN).

The news came out at exactly 4 pm Eastern and, as you can see, the response by bitcoin was swift.

Bitcoin, for a moment, went below $1,000 on some exchanges… which just happened to be the exact price I said bitcoin could go to, temporarily, if the SEC disapproves the ETF.
The reason the ETF was not approved, according to the SEC, was because bitcoin is “too susceptible to fraud due to its unregulated nature.”

This is quite wry coming from the ultra-corrupt and anti-free market SEC. The market needs no regulation by an outside and violent entity (government) operating through the use of stolen funds (taxes) to manipulate, extort and attack people who do not pay enough bribes (political donations).

Bitcoin, in fact, is perfectly regulated the way it should be. By the blockchain itself. Bitcoin is 100% regulated by the blockchain which is a ledger system that is completely transparent, available to all, and unchangeable by any one entity.

In fact, “regulation” in and of itself is a tool used by branches of crime syndicates such as the SEC. Luckily, bitcoin cannot actually be regulated by the SEC, which makes it far more secure and less susceptible to manipulation and corruption.

Many in the bitcoin community were quite happy to hear that the SEC did not approve the ETF. Aside from not wanting the blessings of a corrupt, criminal entity they also said it limits the ability of some to manipulate the market, via shorting and other means that would be made easier via the ETF.


This event, today, gives us the opportunity to comment further on the differences between gold and bitcoin. After we said that “bitcoin is better than gold” last week, thousands of people lost their mind on the Youtube comments based on the article!

To begin, The Dollar Vigilante is a huge proponent of precious metals. In fact, it is, by far, the biggest weighting in our portfolio. Bitcoin, and other cryptos, only take up 5% of our portfolio for many reasons… some of which include the volatility like we saw today.

In truth, in terms of total value, bitcoin still has a VERY long way to go before it will ever surpass gold… if ever.

Gold’s market cap is somewhere between $7 and $40 trillion USD while comparatively, bitcoin has a market cap of around $20 billion which pales in comparison.

Gold still remains more tried and true than bitcoin in that it has been around for millennia, whereas bitcoin has been around for a grand total of eight years.

And, for gold to become “money” it had to be recognized as the marketable commodity that it is. Despite all the wonderful attributes bitcoin has, it lacks the one thing that makes gold so valuable – time.

However, in terms of ease of transference, bitcoin is massively superior to gold. For the most part, it doesn’t really exist in physical terms and can be easily transferred from one computer to another and bought and sold via exchange in equally as efficient a manner.

We, now, live in a very digital world. And, that means a lot of change.

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12 comments to Bitcoin Gets WinkleF*ked By the Criminal SEC Organization

  • MarcS

    I like gold and silver, but do not take pleasure, as berwick states, that bitcon has moved lower than gold…. a stupid comment.

    My opinion of bitcon is different than most, I have watched the digital bitcon currency go up and up, and it is due to the fact that people are desperate to find “true money”.

    Bitcon may be “money” to the geeks who created it out of thin air, but it is no different than the plantation dollar created out of thin air….except it is something new and exciting, just like the tulip mania.

    They say you can’t print gold, but the geeks did, and there are suckers born everyday.

  • Eric

    “But, the point was, for the first time ever, the value of one unit of bitcoin surpassed the value of one ounce of gold.”

    Once again somebody confuses the word PRICE for VALUE. Why do so many make this mistake over and over?

    Image result for difference between price and value
    Key Differences between Price, Cost and Value. Price is what you pay for goods or services you acquire; Cost is the amount of inputs incurred in producing a product and Value is what goods or services pay you i.e. worth.

  • MarcS

    Why do so many people confuse price with value?

    Probably the same reason why so many confuse currency with money….
    They are too lazy to research and understand basic economic terms.

    • Eric

      Marc, via the link I posted this says it all. 2 totally different meanings.

      Value Vs Price

      This can be explained easily with the popular example given by Prof. Adam Smith about water and diamond. Water is much important for us to survive still it is of low price, while the diamond is just used for ornamentation and nobody dies without it, is priced very high. The reason behind this is its value, as the value of water is much for us, it is available at a low price, while the value of a diamond is less for us. Therefore, it is priced very high.

  • MarcS


    Glad to see that the Indian people did not fall for the gold “confiscation” scheme of the guvmint.
    Just like roosevelt ordered mandatory confiscation uh I mean purchases of gold in the usa, and then turned around and revalued it something like 60% higher.
    Plain and simple thievery of the citizens saved labor.

    The Indian guvmint.banksters know the date for the revaluation of gold and silver, as they will be involved with the event(s) that cause the collapse of the current monetary (plantation dollar) system.

    The people should understand quite well that their guvmint does not care one bit about the Indian common person.
    As a matter of fact, they are willing to let millions die removing currency from the people which effects primarily the low income farmers who do not have bank accounts. Pathetic govts.banksters all over the world, we can all pray they are crushed to the earth soon, for their immoral, illgotten gains at the expense of peoples actual labor and talents.

    • Eric

      The Gold wasn’t revalued. The US Dollar was devalued by 69.3% overnight.

      Gold doesn’t change. The world around it does.

      On a side note, my Indian friend was asking me about the premiums on Silver bars vs. coins yesterday. Sounds like he wants to buy about (10) 100 oz. bars, take immediate delivery, and is willing to pay about $19/oz. for them.

      It just blows my mind (but doesn’t surprise me), that out of all the dumb westerners I keep telling to buy Silver and explaining the reasons why, not one of them ever asks me about it and the only one that ever does is the Indian guy.

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