BitRAPED – How Bitcoin Is Not a Magical Source of Wealth Creation (Video)

Wednesday, June 07, 2017 by Martin Mavis

The Health Ranger explains why the Bitcoin bubble is not some magical new source of unlimited wealth creation. In fact, it’s almost exactly like “Tulip bulb mania” and will end catastrophically.

Podcast Transcript: “I’m going to keep this short in explaining why Bitcoin is a fraud as it is currently being promoted and purchased by people who are speculators. Essentially the message with Bitcoin – and what people believe now in Japan and Korea – is that they have discovered a magical source of endless money creation where they can all get rich without effort. ‘Now where have you heard this before?’ You’ve heard it in every ponzi scheme, you’ve heard it in the dot com bubble, you’ve heard it in the sub prime mortgage bubble, you’re hearing it in the stock market bubble, the bond market bubble and every housing bubble that has ever crashed in history. ‘You know what all of these bubbles have in common?’ All of the suckers that fell for them jumped in because they told themselves the exact same mantra. ‘This time it’s different. We’re smarter than the previous generation.’ … They are wrong.” Listen to the podcast below: