Tuesday, December 7

Max Keizer: governments inevitably enter a race to hoard bitcoin

“The hash war is going to begin!”, Was the phrase with which the journalist and former stockbroker, Max Keizer, began his speech at the LaBitConf event. In his opinion, the time is approaching when governments around the world will be competing to add and accumulate bitcoin (BTC)

The American, recognized as a Bitcoin evangelist, rose to the stage of the bitcoiner conference that takes place in El Salvador. As part of his presentation “Unlimited Printing, Debt, Power vs Bitcoin”, Keizer stated that while some fear owning bitcoin, due to possible sanctions or prohibitions, in reality governments will be mining and accumulating BTC.

Keizer believes that it is inevitable that, globally, countries will enter a race to obtain wealth through bitcoin, now that El Salvador has taken the step of converting it into legal tender. “We are already seeing it in Latin America,” he said, referring to the movements to legalize the use of bitcoin in countries such as Brazil, Cuba, Panama or Paraguay, as reported by CriptoNoticias.

As he expressed, no government will want the others to get rich and will want to participate in that wealth by mining bitcoin to accumulate more. “It is the ‘hash war’ (…) It is going to happen and nobody can stop it,” emphasized the speaker.

The printing of the US dollar has accelerated in the last 18 months. Source Federal Reserve System.

It doesn’t change to bitcoin, bitcoin changes you

Max Keizer foresees that all countries will follow the example of El Salvador and convert Bitcoin into legal currency. He argues that world currencies are collapsing, and that “all fiat money has either gone to zero in the last 300 years, or has lost 99% of its purchasing power. None have survived, including the US dollar. ‘

On the other hand, he argued that only ignorance and lack of study can justify the rejection of the “beauty” expressed in the Bitcoin protocol.

All those who do not like bitcoin, surely have not studied it, the mainstream economists, or the media who have an opinion on Bitcoin, but none of them have really understood it. If they understand it they immediately fall in love. Because it doesn’t change to bitcoin, bitcoin changes you.

Max Kaiser, journalist and producer for Keizer Report.

Journalist and renowned Bitcoin evangelist Max Keizer said on Labitconf that governments will follow El Salvador’s lead and legalize cryptocurrency. Source: Talent Republic TV on Youtube.

Coins are just paper

After explaining that the only backing for the dollar is hate and men with guns, Keizer tore a US dollar bill into pieces. “This is just a piece of paper, an illusion that somehow makes us think that it will keep us safe and protected in an inflationary world,” said the journalist.

In contrast, he referred to some of the the characteristics of Bitcoin, such as its mathematically guaranteed scarcity, which is uncensored and decentralized. Keizer claimed that Bitcoin is an excellent equalizer, referring to the potential of the major cryptocurrency to adjust and keep its economy in balance.

He gave as an example the coastal community of El Zonte, in El Salvador, where bitcoin has been used for payments for some years. In his view, the citizens of that community enjoy more monetary independence than any American. The bitcoinier noted that “any American is subject to having their wealth confiscated, as was done in the 1930s. Or it can be destroyed by inflation, and their transactions are spied upon by the government.”

The inflation genie is out of the bottle

According to the figures mentioned by Max Keizer, 40% of the money circulating in the US was printed in the last 18 months, which is why he affirms that “the genius of inflation has already come completely out of the bottle.”

He highlighted that money printing has been a problem for a long time and that there is evidence coordination between central banks at the global level to prolong this situation over time. He explained that the mechanics of issuing bonds with increasingly long maturities, and rates set “artificially close to zero,” only destroy people’s savings.

“Inflation is going to destroy people’s lives, it is going to destroy countries, and that is the reason why bitcoin today is at $ 50,000 or $ 60,000 per currency,” Keizer said. Bitcoin recently reached an all-time high of $ 69,000, which for the former stockbroker is one of the signs that can predict an upcoming hyperinflationary process globally. “If you are not accumulating bitcoin, you could be in very serious trouble,” concluded the speaker.


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