The Conspiracy Wiki

The theory that banks created bitcoins and other digital currencies to divert critics of fiat currencies from gold coinbase advocacy says that after reintroduction of gold coinbase was proposed as a way of preventing future financial bubbles after the 2007 finincial crisis, banks searched for other things to allege to be "the opposites" of fiat currency. According to the theory, that was because gold coinbase would remove the profitable practice of banks creating non-physical money out of thin air by lending out money that they did not have as cashless bank loans, a practice that caused the 2007 financial crisis and led to the proposal of gold coinbase precisely to prevent repetition.

Stable exchange rate between gold and physical goods[]

It have been pointed out that while gold prices appear to have changed, these changes are inversely related to the changes of the value of currencies in the paper to air range. This is because the same amount of gold have been exchangeable to about the same amount of physical goods for most of history. The only exceptions to the rule that the exchange rate of gold to physical goods is stable are apocalyptic famines.

The difference between apocalyptic famines and local crises[]

Apocalyptic famines are not your run of the mill dust bowls that can be alleviated by stores from unaffected areas still being importable. Apocalyptic famine happens when food production over large areas are disrupted for multiple seasons so that neither stores nor aid from outside can prevent mass starvation, often coupled with disrupted transportation. Famines that are apocalyptic are severe enough to cause societal collapse and deaths from starvation both killing the ruling elite and reducing population regardless of gender roles and incentives to have large families.

During an apocalyptic crisis, even the richest are not safe from starvation. This becomes obvious even before the final collapse. During the crises towards the end of the Bronze Age, the Hittite king himself was starving when he asked for Egyptian aid, and yet the final collapse of Bronze Age civilization came years later when Egypt was so weakened it could send no more aid. That is, the very rich can suffer even during a pre-apocalyptic crisis that becomes apocalyptic only when it disrupts the whole trade network so that no more aid can arrive.

The stability of gold coinbase during non-apocalyptic crises[]

Financial crises short of that severity, even those during which the previously rich become poor because the risk behaviors that made them super-wealthy in the first place backfires by leaving them without fallbacks, do not change the exchange rate of gold to physical goods. For example, the exchange rate of gold to all physical goods except tulips remained unchanged when the Dutch tulpomania bubble bursted in february 1637. Hyperinflation does not affect the gold to physical goods exchange rate either. That is, gold coinbase is much stabler than fiat currencies.

Why cryptocurrencies were made even unstabler than fiat currencies[]

The theory holds that since the gold coinbase was proposed as a stable alternative to fiat currency, banks had incentives to create currencies even more unstable than fiat currencies and peddle them under false flag as "the currencies that are not fiat". According to the theory, this was done to steer discussions away from gold coinbase. This theory explains why bitcoin was created in 2008 and made publicly available in 2009 under the pretense of "not being a fiat currency", shortly after the 2007 financial crisis. It also explains why the creator of bitcoin have not been pinpointed as a result of rich and powerful banks hiding that they did it. Furthermore, it explains the instability of digital currencies as part of the deliberate design to create propaganda for fiat currencies by falsely depicting something even unstabler as "the only alternative to fiat currency".

The gullible dog brains who invest in cryptocurrencies[]

The reason why many other, similar digital currencies that were created later have dogs on their emblems may be because the dogs symbolize the gullibility of those who invest their money in digital currencies and believe themselves to break free from the bank-controlled currency system by doing so. Many cryptocurrency investors have lost their fortunes because of the extreme instability of such currencies, the polar opposite of the stability of gold coinbase. Another similarity, which in the context of corporate lobbyism is linked to gullibility, is the dog-like low resolution in the brains of those susceptible to association fallacies such as "if you are against one thing, you are for what media claims to be its opposite". That is the low resolution brains that assume that there are no more alternatives than fiat currency and cryptocurrencies in computers "because media depicts that as the opposites".

And of course, digital currencies will become useless when the Internet stops working. That event is not far in the future. Since blockchains depend on many steps the malfunctioning of but one makes the whole chain stop working, digital currencies are a particularly vulnerable part of the internet that will stop working before the entire internet goes down if the severity of the failures increase gradually. So if the collapse of the internet follows the predictable pattern of Moore's law increasing supply chain failures, with no major exterior cataclysms such as solar storms to hasten it, then all bitcoins will be gone months before the internet finally collapses. Since anonymity networks relying on layers of proxies also depend on many steps in which no chain is stronger than the weakest link, the dark web will collapse before the internet collapses as a whole too.