Bitcoin seller ‘goes dark’–Bitcoins are not the answer

Bitcoin

The ‘virtual currency’ known as Bitcoin seems to be facing more problems:

Bitcoin exchange Mt. Gox goes dark in blow to virtual currency

Feb 25 (Reuters) – Mt. Gox, once the world’s biggest bitcoin exchange, abruptly stopped trading on Tuesday and its chief executive said the business was at “a turning point,” sparking concerns about the future of the unregulated virtual currency.

Several other digital currency exchanges and prominent early-stage investors in bitcoin responded with forceful statements in an attempt to reassure investors of both bitcoin’s viability and their own security protocols.

The website of Mt. Gox suddenly went dark on Tuesday with no explanation, and the company’s Tokyo office was empty – the only activity was outside, where a handful of protesters said they had lost money investing in the virtual currency…

A statement on Bitcoin’s website said, “In the event of recent news reports and the potential repercussions on MtGox’s operations and the market, a decision was taken to close all transactions for the time being in order to protect the site and our users. We will be closely monitoring the situation and will react accordingly.” http://www.reuters.com/article/2014/02/25/bitcoin-mtgox-idUSL3N0LU1OX20140225

Bitcoin is not the answer to the inflating of the money supply of the USA or certain other currencies. Bitcoin, like the US dollar, is basically backed by nothing. At some point in time, both Bitcoin and the dollar of the USA will be worthless.

Earlier this month, the US government eliminated its debt ceiling until March of 2016 so that it can spend without Congressional limits and increase debt.

Notice also something I wrote earlier in one of my books:

The debt situation of the USA is putting it at risk of being unable to recover should it be hit by weather problems, terrorist acts, war, riots, solar flares, severe earthquakes, civil unrest, devastation of their genetically-modified food supplies, food shortages, and/or various pestilences–an intensity of “sorrows” such as Jesus discussed in Matthew 24:4-8 leading up to the time of the Great Tribulation. Disasters, especially if there is an ElectroMagnetic Pulse (emp) attack or a severe solar flare storm, could be part of a so-called “perfect storm” of events that could set the USA for destruction…

It seems since many are now questioning the role of the U.S. dollar as the world’s reserve currency, more are looking into other currencies as well as gold. Gold will set records in U.S. dollar terms. When the U.S. dollar totally collapses people all around the world will consider that even if the Euro (or something similar) is strong, having a more gold-backed currency would be safer. The collapse of the U.S.A. dollar will shake a lot of the world’s confidence in non-gold backed currencies.

Having the European power acquiring a lot more gold to back the Euro (even if the backing is only implied) or possibly other future European currency (that might potentially replace the Euro or even a basket of currencies) may greatly increase European credibility, prosperity, and influence around the globe (and will happen, to a degree, before that King arises).

The financial policies of the Obama Administration (which are a massive acceleration of the previous policies of the Bush Administration) are heading the world into the direction that something other than the U.S. dollar will be valued as its reserve currency. (Thiel B. Barack Obama, Prophecy, and the Destruction of the United States-Second Edition for Second Obama Term. Nazarene Books, 2013, pp. 70, 132-133)

The time is coming that the USA dollar will be totally worthless (except perhaps to collectors or as a fuel source). And yes, the Bible tells that for a time gold will be worthless, but that does not happen until years after the demise of the US dollar. But placing too much confidence in gold, currencies, or alternatives like Bitcoin will not truly save anyone (cf. 1 Peter 1:7). Yet, true repentance and turning to the Jesus of the Bible can.

The increased debt of the USA, as well as its increasing financial and other surveillance, seem to be factors in the popularity of alternatives like Bitcoin–but financial privacy is not something that the coming Beast power will support (cf. Revelation 13:16-18).

Although the USA is not likely to repent to prevent this nationally, nor can Bitcoing prevent it, personally you can repent as well as physically take steps before the dollar-based economic systems collapses.

Some items of possibly related interest may include:

Jesus: The Son of God and Saviour Who was Jesus? Why did He come to earth? What message did He bring? Is there evidence outside the Bible that He existed? Here is a YouTube sermon titled Jesus: Son of God and Saviour.
Just What Do You Mean — Repentance? Do you know what repentance is? Have you truly repented? Repented of what? Herbert W. Armstrong wrote this as a booklet on this important subject.
When You Sin: Do You Really Repent? This is an article by Charles F. Hunting. A related sermon is Confess to God and truly repent.
There is a Place of Safety for the Philadelphians. Why it May Be Petra This article discusses a biblical ‘place of safety’ and includes quotes from the Bible and Herbert W. Armstrong on this subject–thus, there is a biblically supported alternative to the rapture theory. There is also a video on the subject: Might Petra be the Place of Safety? Here is something related in the Spanish language: Hay un lugar de seguridad para los Filadelfinos. ¿Puede ser Petra?
Just What Do You Mean Conversion? Many think that they are converted Christians. But are they? Would you like to know more about conversion. Herbert W. Armstrong wrote this as a booklet on this important subject.
False Conversion Have you really been converted? Herbert W. Armstrong wrote this article on this important subject.
All About Water Baptism What is baptism? Would you like to know more about it. Herbert W. Armstrong wrote this as a booklet on this important subject. As far as early history, see also Baptism and the Early Church.
God’s Grace is For All Is being Jewish a hindrance to salvation? What about not being a descendant of Israel? What does the Bible really teach?
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe? Here is a link to a video titled: Can You Prove that the Beast to Come is European?
Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? What MUST happen BEFORE the Great Tribulation?
Physical Preparation Scriptures for Christians. We all know the Bible prophecies famines. Should we do something?
The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold?
Does God Have a 6,000 Year Plan? What Year Does the 6,000 Years End? Was a 6000 year time allowed for humans to rule followed by a literal thousand year reign of Christ on Earth taught by the early Christians? Does God have 7,000 year plan? What year may the six thousand years of human rule end? When will Jesus return? 2021 or 20xx?
When Will the Great Tribulation Begin? 2014, 2015, or 2016? Can the Great Tribulation begin today? What happens before the Great Tribulation in the “beginning of sorrows”? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language: ¿Puede comenzar la Gran Tribulación en 2013 o 2014? ¿Es el Tiempo de los Gentiles? You can also see the English language video The Great Tribulation Will Not Begin Before 2017.
Blood Moons and Prophecy There are four ‘blood moons’ expected in 2014 and 2015. Do they signal the Day of the Lord or the return of Jesus Christ? A related YouTube video is also available: Blood Moons, Prophecy, 2014, and 2015.
Barack Obama, Prophecy, and the Destruction of the United States-Second Edition for Second Obama Term This is a 160 page book for people truly interested in prophecies related to Barack Obama and the United States, including learning about many that have already been fulfilled (which the book documents in detail) and those that will be fulfilled in the future. It also has a chapter about a Republican choice. This book is available to order at www.barackobamaprophecy.com. The physical book can also be purchased at Amazon from the following link: Barack Obama, Prophecy, and the Destruction of the United States: Is Barack Obama Fulfilling Biblical, Islamic Catholic, Kenyan, and other America-Related Prophecies? What About Republican Leaders? Second Edition for Second Obama Term.
Barack Obama, Prophecy, and the Destruction of the United States-Second Term-Amazon Kindle edition. This electronic version is available for only US$2.99. And you do not need an actual Kindle device to read it. Why? Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon s Free Reader Apps. After you go to for your free Kindle reader and then go to Barack Obama, Prophecy, and the Destruction of the United States-Second Term-Amazon Kindle edition.