Media's Assault On Bitcoin: Unraveling The Campaign Against It

The War On Bitcoin Has Just Begun

The Bitcoin revolution started quietly in 2009, with no one knowing this new form of money was created. Fast forward to 2023, and you will hear all kinds of negative things being said about Bitcoin. Here are just a few examples of the slanderous propaganda that the media spews against Bitcoin:

1. 8 Bitcoin Facts: Why is This Cryptocurrency Bad for The Environment?

2. Bitcoin Is As Bad for the Planet As Beef, and It's Getting Worse

3. Why Bitcoin Is Bad for the Environment

These articles were found on the first page of a Google search “Is Bitcoin Bad.” The organizations that wrote these articles are highly influential and are read by millions of people across the globe.

When a reader is trying to research Bitcoin and finds articles describing how it is terrible for the environment, they are less likely to consider buying it in the future. Is this a deliberate attempt to turn people off of Bitcoin by people with a vested interest in seeing the US dollar system continue as long as possible? I want to think the people who are writing these articles are simply misguided about the unique qualities of Bitcoin. Still, something tells me that this is more of a targeted effort to kneecap Bitcoin to hinder widespread adoption.

What I suspect is happening is the groundwork is being laid to outlaw Bitcoin ownership in the future. I’m not sure what that looks like, but the catalyst for such draconian measures will be some kind of credit event in the United States. It may be closer than you think.

Just yesterday, it was reported that Fitch downgraded the United States’ credit rating from AAA to AA+. Fitch cited the growing government debt burden and the repeated government dysfunction overspending has led to this downgrade.

This means increased borrowing costs and more unsustainable debt for the US government. The debt has grown to $32.1 trillion with no signs of stopping. The debt limit deal that was supposed to cut government spending is doing no such thing.

The deficit through June 2023 is an eye-watering $1.4 trillion. This represents a 170 percent increase over last year! Tax receipts plunged 11 percent between October and June while spending increased 10 percent. To paper over this hole in revenues, the government borrowed the money at higher interest rates than before, thanks to the federal reserve aggressively raising the interest rate to fight inflation. This is unsustainable and bound to veer the country over a fiscal cliff sooner rather than later.

The Road To Oblivion

The situation that we are in has the hallmarks of a debt spiral. Check out James Lavish if you want a great breakdown of the ins and outs of a debt spiral. The basic concept is government overspending and borrowing has led it to a situation where there is nothing a government can do to prevent its currency from crashing. Here is how it breaks down:

1. The government has lived beyond its means for decades. Accures massive amounts of debt

2. The economy doesn’t generate enough revenue to pay for government programs/ interest on debt

3. The government borrows money to pay off old loans

4. Debt continues to increase and puts more dollars into the economy, causing inflation in the economy

5. Interest rates are raised to try to quell inflation

6. Higher interest rates increase the cost to the government to finance operations

7. Higher interest rates make it hard for businesses to borrow at affordable rates. Killing job growth and slowing down the economy

8. Slow job growth means less taxes being paid by workers

9. The cycle repeats until an economy collapses

Does this sound like the current situation that we are in? If you look around the globe, every single government on Earth is mired in debt. Some are better at managing it than others. In particular, the “West” seems to be in deep trouble with debt to GDP numbers well over 100 percent. Because Western powers have immense power over the global economy, it matters to the world what kind of fiscal situation they are in. It is terrible and is getting worse by the day.

Bitcoin Ban In The Works?

Will Bitcoin be banned in the “West”? Maybe, no one knows for sure, but you can see how the narrative is being established about Bitcoin. The powers that be want people to have a negative association with Bitcoin. This is why you continue to get the negative stories about Bitcoin, even when it has been proven that Bitcoin mining is one of the most environmentally friendly uses of electricity out there!

This fact continues to be ignored because it doesn’t fit the narrative the media and their patrons are trying to create. Think of their strategy as a two-pronged attack. On one side, you have the media painting this picture of Bitcoin as a tool for criminals, terrorists, and drug dealers. On the other side, you have the government swooping in on their white horse to save the day by banning it or severely curtailing it only to allow big-power players to own it.

Blackrock is filing for a spot Bitcoin ETF, and Senator Elizabeth Warren is sponsoring a bill that will make it impossible to self-custody Bitcoin or transact privately. If this bill ever became law, it would make criminals out of every Bitcoin holder overnight. Many will decide to sell to avoid the reporting headache; others may resist and be arrested to make an example out of.

This will undoubtedly drive ordinary people away from the most scarce and secure money known to man and leave it in the hands of those who benefit from this corrupt system. Can you imagine a world where Bitcoin is controlled by people who benefitted from the corrupt system Bitcoin was created to replace?

This is the world we live in right now. The best thing we can do right now is to educate your friends, family, co-workers, neighbors, and the average Joe on the street about Bitcoin and what it represents. Our future is in the balance. We have a chance to change the world for the better. Are you ready to make this a reality?

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