Edward Snowden Said He Searched For Proof of Aliens on The CIA Networks and Didn’t Find Anything – GeekTyrant

Do aliens exist? Thats a question that people have been asking for a long time. They serve as the basis for all kinds of sci-fi stories and weve even got official video proof of UFOs that even the Navy cant seem to explain.

There are some strange things happening out in space and at one point Edward Snowden wanted to find out for himself if the government was covering up anything on alines, so he decided to look through the CIA Networks to see if he could find anything.

Just in case you dont know who Snowden is, hes the source of the biggest U.S. intelligence leak in history. So did he find anything on his search!? Unfortunately, no. While a guest on theJoe Rogan Experiencepodcast, he said:

"I know, Joe, I know you want there to be aliens. I know Neil deGrasse Tyson badly wants there to be aliens. And there probably are, right?

But the idea that we're hiding them -- if we are hiding them -- I had ridiculous access to the networks of the NSA, the CIA, the military, all these groups. I couldn't find anything. So if it's hidden, and it could be hidden, it's hidden really damn well, even from people who are on the inside."

Sonwden previously said, "as far as I could tell, aliens have never contacted Earth, or at least they haven't contacted US intelligence."

Thats kind of a buzzkill! But, Im sure it wont phase UFO and alien conspiracy theorists. After all, this is all just part of the big cover-up, right!? Look, Ive seen some crazy weird shit in my life, stuff I cant explain. Is there other life out in the universe? I have no idea, but if there is, Im just glad thay havent destroyed us yet.

What do you all think about this?

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Edward Snowden Said He Searched For Proof of Aliens on The CIA Networks and Didn't Find Anything - GeekTyrant

Edward Snowden Confirms Aliens Never Contacted the CIA and Moon Landing Did Happen – News18

Despite hundreds of films, science fiction and fantasy novels as well as thousands of conspiracy theories, humans have never found proof of aliens existing or ever contacting Earthlings.

In fact, Area 51, one of the most secretive military bases in the United States, is actively believed by thousands of people to be the site of alien experiments conducted by the Central Intelligence Agency (CIA). However, CIA employee turned whistle blower Edward Snowden recently debunked one of the biggest conspiracy theories prevalent in the US - that aliens managed to contact the US government and/or its security agencies and that the government actively hides this bit of information from the world.

In his recently released memoir "Permanent Records", however, Snowden revealed that during his time at the CIA, he had searched the CIA databases and resources find out if the US or any of its agencies had ever been in contact with extraterrestrial creatures. However, Snowden found no evidence of any official (or unofficial) contact with aliens. "For the record, as far as I could tell, aliens have never contacted Earth, or at least they haven't contacted US intelligence," Snowden writes in his recent memoir," Snowden wrote.

He also confirmed that the moon landing, another famously disbelieved moon landing - a favourite with conspiracy theorists in US - did indeed happen.

"In case you were wondering: Yes, man really did land on the moon. Climate change is real. Chemtrails are not a thing," he wrote.

Snowden repeated the same on a recently aired podcast episode on an episode of The Joe Rogan Experience podcast where he said, "I had ridiculous access to the networks of the NSA (National Security Agency), the CIA, the military, all these groups. I couldn't find anything".

However, he did not completely dismiss the idea of aliens existing. "If we are hiding them (aliens)...it's hidden really damn well, even from people who are on the inside".

Theories of alien invasion, alien abductions, weird experiments and UFO sightings have been part of American pop culture for over a century. The "Black Knight" satellite theory, for example, states that an alien satellite that exists in Earth's orbit and could some day attack Earth.

However, it looks like Snowden just rained on the conspiracy parade.

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Edward Snowden Confirms Aliens Never Contacted the CIA and Moon Landing Did Happen - News18

OPINION: Edward Snowden should be allowed to return to United States – The Daily Evergreen

You are constantly being watched.

Its a given in this technologically connected day and age, a reality we treat as an inevitable byproduct of living in the information era, but your information is not private. Not even close.

We joke about being on watchlists, or our FBI agent, as if a specific person is assigned to each of us to keep tabs on our emails, messages and search history.

But thats ridiculous. Obviously, the FBI isnt devoting people 24/7 to watch your online history. Thatd be next to impossible and highly inefficient. Relax, you can breathe a little easier.

Instead, theyre delegating the task to a multi-billion dollar, international, highly sophisticated data collection program that monitors the internet and online traffic of every single American citizen. Its always on, and its always listening.

Feel better? You shouldnt. The program is called PRISM, and its run by the National Security Agency. Weve got a similar program, called ECHELON, running in the U.S., Canada, the U.K., New Zealand and Australia, that does essentially the same thing.

Many countries have some sort of data collection system in place, supposedly to preserve national security. However, the scope of the programs that the U.S. runs every single day is historically unrivaled, making PRISM and ECHELON, without exaggeration, the largest single data collection efforts of all time, processing millions of phone calls, emails and texts per day.

The only reason were aware of all this is because of one person CIA employee Edward Snowden, who was one of the NSAs top analysts in the field of cybersecurity and data mining. In 2013, Snowden fled the country to Hong Kong and leaked a massive amount of information to multiple news sources about the NSAs data collection programs, many of which he had helped build.

Since 2013, Snowden has been in political exile, seeking asylum in Russia. Hes considered by the U.S. government to be a traitor to the nation, wanted on multiple counts of treason, all because he made the choice to stand up and do the right thing. Snowden risked his life and his freedom to hold the government accountable for blatant abuse of power.

I believe he did the right thing, said Charlie Hanacek, president of the WSU Linux Users Group, and senior computer science major. I wish there had been more effective channels of accomplishing what he wanted to do but overall, I believe it was more beneficial than not.

Snowdens release of thousands of classified documents helped alert people to what was truly going on behind the scenes at the NSA. The fact that there was tech surveillance existed was known to an extent in computer and legal circles, given the NSAs long history of wiretapping and surveillance. However, Snowdens information gave the American people the true scope of what was going on.

I think a lot of the tech surveillance was already kind of an open secret, and its good for the public to be aware of, said Kelly Marshall, a third-year political science student.

Awareness of government misdeeds is one thing, but the fact that Snowden has had his passport revoked, his citizenship scrapped and been made a fugitive from his own country is simply abominable. The grounds for prosecution the government has brought against him are based on century-old rules that have no application under the circumstances, especially the counts of treason, based on legislation from before World War I.

Succinctly put, the government has little legal precedent or justification to call for Snowdens arrest, and multiple examples and reasons as to why he should be accepted back into the country as a legal citizen with charges dropped.

Arguments have been made that Snowden should have gone through the proper legal channels to bring suit against the NSA, rather than dumping thousands of documents, but in his particular case, the information was too highly classified, and his job too secretive for an open-court trial to have been effective or allowed.

Im absolutely for making sure you exhaust your other channels of whistleblowing before you go as big as possible with it, Hanacek said, referring to Snowdens method of releasing information to journalists.

Regardless of means or method, Snowden changed the world of large-scale surveillance, information technology and more importantly, our fundamental understanding of how the government keeps tabs on its citizens.

This does not mean, however, that the NSA has reversed its practices, or that its the only player we should be worried about in the information collecting game.

Any kind of change needs to happen from a top-down level, in terms of legislation, Hanacek said, with regards to government data collection. Also, dont work at unethical companies They cant write the code if they dont have the developers.

Snowdens leaks have helped damage the veil of secrecy that hid a significant amount of NSA projects and surveillance, and for that, everyone who communicates via technology should thank him. He played a key role in unlocking the vast vault of unethical government secrets, and he should be praised for it, not condemned.

Its time to honor a national hero and drop charges against Edward Snowden. Its time for him to come home.

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OPINION: Edward Snowden should be allowed to return to United States - The Daily Evergreen

Hillary Clinton: the shameful conclusion to the But Her Emails debacle – Vox.com

We can all finally stop worrying about Hillary Clintons emails.

Last week, Congress received a brief, nine-page report from the State Department, which summarizes the departments investigation into Hillary Clintons use of a personal email account to conduct work business while she was secretary of state. The report can be fairly summarized in two sentences: She shouldnt have done that. But it wasnt that big of a deal.

Thus, America finally has closure on a minor scandal that many of the nations most powerful and influential news editors treated as if it were the most important issue facing voters in the 2016 election. In just six days, according to an analysis of 2016 coverage published in the Columbia Journalism Review (CJR), the New York Times ran as many cover stories about Hillary Clintons emails as they did about all policy issues combined in the 69 days leading up to the election. And the Times was hardly alone in this regard.

By contrast, the Timess piece on the State Department report concluding that Her Emails werent actually that big of a deal ran on page A16 in print. (It was featured somewhat more prominently on the Timess online homepage.) Similarly, data provided to Vox by the liberal group Media Matters indicates that television news all three major cable networks plus all three broadcast stations spent a total of less than 56 minutes combined on the new State Department report.

The State Departments report reaches two broad conclusions. Clintons use of a private email system to conduct official business added an increased degree of risk that classified information would be compromised. But there was no persuasive evidence of systemic, deliberate mishandling of classified information.

In 2016, the State Departments inspector general also determined that Clintons Republican predecessors, Secretaries Colin Powell and Condoleezza Rice, also received classified information on their personal email accounts.

So Clinton committed the same mistake committed by her predecessors Powell reportedly advised Clinton to use a personal email account for non-classified communications shortly after Clinton became secretary and the State Departments report found no systemic mishandling of information.

Clintons use of private email was the sort of minor scandal that the public deserved to be informed about at some point during the 2016 election after which the news cycle could move on to other, more important stories. But that sure as hell wasnt how it was covered. Indeed, it is likely that Donald Trump is president today in part because of the presss obsession with this very small story.

Months after the 2016 election, a team of researchers at Harvards Berkman Klein Center for Internet & Society set out to quantify which issues received coverage and which issues were ignored by major media outlets during that election. To do so, they read thousands of campaign-related articles in several major outlets, and counted how many sentences were devoted to various issues. The results are striking.

As CJR later summarized this research, the Berkman Klein Center found roughly four times as many Clinton-related sentences that described scandals as opposed to policies, whereas Trump-related sentences were one-and-a-half times as likely to be about policy as scandal. Indeed, emails so dominated coverage that the various Clinton-related email scandalsher use of a private email server while secretary of state, as well as the DNC and John Podesta hacksaccounted for more sentences than all of Trumps scandals combined (65,000 vs. 40,000) and more than twice as many as were devoted to all of her policy positions.

Meanwhile, CJR researchers Duncan J. Watts and David M. Rothschild did a deep dive into how the New York Times covered 2016, and their findings are just as stark. Of the 1,433 articles that mentioned Trump or Clinton, during the last 69 days of the 2016 campaign, 291 were devoted to scandals or other personal matters while only 70 mentioned policy, and of these only 60 mentioned any details of either candidates positions.

One-hundred fifty of these New York Times articles, moreover, appeared on the papers front page. Of these, only 16 discussed policy in any way, of which six had no details, four provided details on Trumps policy only, one on Clintons policy only, and five made some comparison between the two candidates policies. By contrast, the Times ran 10 front-page articles on Clintons emails in just six days, between October 29 and November 3.

The overarching impression created by this reporting, in other words, was that the emails were more important than all of the policy questions facing voters in 2016 questions like whether millions of Americans would lose health care, whether the United States would bar immigrants because of their religion, and who would control the Supreme Court.

We cannot know with certainty what would have happened if news outlets did not fixate on this story during 2016. But as Tina Nguyen wrote in Vanity Fair, you could fit all the voters who cost Clinton the election in a mid-sized football stadium. As FiveThirtyEights Nate Silver wrote in 2017, Hillary Clinton would probably be president if FBI Director James Comey had not sent a letter to Congress on Oct. 28 that reinvigorated the emails story shortly before the election.

We do know, moreover, that the obsessive coverage of Clintons emails shaped how voters perceived the 2016 race. In September 2016, Gallup asked voters what they recalled hearing about the two major presidential candidates. The word cloud for Trump primarily shows a mixture of immigration policy and generic campaign terms.

Meanwhile, Clintons word cloud speaks for itself.

The press obsession with government IT security, moreover, appears to be a passing fad that ended the moment Clinton lost her shot at the White House. News broke last November, for example, that First Daughter and presidential aide Ivanka Trump sent hundreds of emails last year to White House aides, Cabinet officials and her assistants using a personal account, many of them in violation of federal records rules. Yet this story received only a fraction of the coverage that Clintons emails received.

Setting aside the media mania over Clintons emails, there is a very important story about classified email security at the State Department that journalists could have told in 2016. Broadly speaking, the federal governments processes regarding how classified information should be handled are designed with low and mid-level personnel in mind, and are ill-suited for the issues facing very senior diplomats.

As of October of 2015, 4.3 million people have security clearances from the United States government. This includes some very low-level personnel who have access to extraordinarily sensitive information. Think of Chelsea Manning, the former Army intelligence analyst who leaked hundreds of thousands of diplomatic cables, battlefield reports, and other classified documents when she was a junior enlisted soldier.

Because there is such a high risk that someone could leak damaging national security information, the protocols for handling such information are often very strict, and the penalties for violating these protocols can be quite high. The fact that so many people must comply with these protocols also fed a perception that Clinton refused to obey rules that rank-and-file government employees must follow religiously.

But the fact is that the secretary of state be it Clinton, Rice, or Powell is very different from a low-ranking soldier like Manning. The rigid protocols that we impose on most people with security clearances do not always make sense for senior diplomats.

As Suzanne Nossel, a former deputy assistant secretary of state under Clinton, explained in a 2015 piece in Foreign Policy, neither then-Secretary of State Hillary Clinton nor her aides had a classified smartphone. Typically, State Department officials with access to classified information will have one email address for ordinary communications and another for classified communications (Clinton used her personal address as her address for ordinary communications). But, to access the classified address, an official must be at a special computer set up to access classified information. Because high-level officials are not always near such a computer, an email sent to a classified address may not be seen for hours or even days.

A senior diplomat might need the secretary to tell her how to vote on a particular United Nations resolution, for example. But if that diplomat follows proper protocol and queries the secretary over the classified email system, the secretary may not see the email until the vote has already taken place.

Senior diplomats, in Nossels words, must make tough choices about the trade-off between security and the need for timely transmission of vital information. And in the heat of an ongoing negotiation or an impending crisis, it is not always clear that following rigid protocols is in the best interests of the nation.

Clinton was, of course, the head of the State Department, so she fairly can be criticized for not implementing new processes that could address these concerns. There is a nuanced conversation to be had about how the State Department should balance concerns about information security with senior diplomats need to convey information quickly. News outlets could have used the controversy over Clintons emails as a jumping-off point to spark this conversation. Perhaps this kind of coverage could have pushed the department to implement needed reforms.

Instead, we got a circus where every new twist in the emails saga received big headlines and overwhelming coverage. We got an election cycle where Hillary Clintons IT practices received more coverage than her opponent bragging about how he grabs women by the pussy without their consent.

And now we have an appropriate bookend for this media-made scandal: a State Department report that finds it was no big deal in the end, published on page A16 of the New York Times.

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Hillary Clinton: the shameful conclusion to the But Her Emails debacle - Vox.com

The New York Times, China, and the specter of the Yellow Peril – World Socialist Web Site

22 October 2019

In a full-page editorial in its Sunday edition, the New York Times engaged in a vicious anti-Chinese rant, warning of a dangerous and growing threat by the aggressive Communist state.

The editorial presented the United States in a twilight struggle against Chinese cultural imperialism, which was aiming to stifle this nations core values.

This hysterical languagecalling China dangerous, aggressive and a threathas all the hallmarks of the racist myth of the yellow peril used to justify the colonial subjugation of Asia by the European and American imperialist powers.

China, the Times wrote, is seeking to control not just what is said in China but what is said about China, too. It asserted that Americas commitment to human rights, including the freedom of expression faces an especially stern test.

The Times did not seek to explain what commitment to human rights is shown by US imperialism. Is it the commitment to human rights that led the US to rape, torture, or murder hundreds of thousands of people across Iraq, from the dungeons of Abu Ghraib, to Fallujah and Sadr City? Or to commit massacres all over the world, from My Lai in Vietnam to the Kunduz hospital attack in Afghanistan?

The Obama administration murdered American citizens with drone missiles. The Trump administration, expanding on the policies of the Democrats, separates thousands of immigrant families and presides over what the UN characterizes as child torture. The American government imprisons whistleblower Chelsea Manning and is seeking to inflict a life sentence, or worse, on WikiLeaks publisher Julian Assange for exposing war crimes.

US imperialism claims the prerogative not just to meddle in the affairs of other countries, but to overthrow any elected government that it views as an obstacle to its interests. According to one study reported in the Washington Post, the US tried to change other nations governments 72 times between 1947 and 1989. Of those, 26 of the United States covert operations successfully brought a US-backed government to power.

No country comes close to the United States in the vast resources it devotes to propaganda and placing politicians, academics, and journalists on the payroll of its intelligence agencies.

In his history of the Central Intelligence Agency (CIA), The Mighty Wurlitzer, Hugh Wilford noted:

High-ranking officials in the American labor movement, it emerged, had worked clandestinely with the [CIA] to spread the principles of free trade unionism around the world. Anticommunist intellectuals, writers, and artists were the recipients of secret government largesse... University professors, journalists, aid workers, missionaries, civil rights activists all had belonged to the CIAs covert network of front operations.

And then there were the hundreds of journalists revealed to be on the CIA payroll. Wilford wrote:

Arthur Hays Sulzberger, publisher of the New York Times, was a good friend of [Central Intelligence Agency Director] Allen Dulles and signed a secrecy agreement with the Agency... Under the terms of this arrangement, the Times provided at least ten CIA officers with cover as reporters or clerical staff in its foreign bureaus, while genuine employees of the paper were encouraged to pass on information to the Agency.

The New York Times epitomizes the eradication of any distinction between news and state propaganda. In his recent memoir, whistleblower Edward Snowden recalls seeing stories that appeared in the CIAs internal news service show up, several days later, in the pages of the American newspapers, almost unchanged with additional references to unnamed intelligence sources.

The threat to American democracy comes not from without, but from within. The New York Times, in its endless demands for censorship and conformity with the values of the state, is one of the principal instigators of that threat.

American companies, the Times declared on Sunday, must affirm the Americanconsensus against the Chinese Communist Partys position. It accused Disney and Comcast of appeasement, and of advocating for the Chinese Communist Partys position, and against the Americanconsensus.

In particular, the Times took issue with a scene in the DreamWorks childrens film, Abominable, that, it claimed, inaccurately portrays the borders of China. The Times asserted that this was a betrayal of American values and all but treasonous. The logic of this argument is that the United States should follow the lead of government censors in Vietnam, the Philippines and Malaysia, who have banned the film.

Corporations, the Times declared, are the creatures of a particular state, however much their executives prefer to think of their operations as multinational. American companies choose to operate under the laws of the United States and to reap the benefits of life in the United Statesand they ought to be held accountable for upholding the values of the United States.

Such statements reveal the hostility of the Times to the democratic conceptions that are embodied in the American Constitution. The First Amendment states: Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances.

That is, the government has no power to impose a set of religious, moral or political views on the people. There is not a universal set of American values that citizens, or companies, are obligated to uphold, or can be held accountable for opposing.

The Times is making a fascistic argument. It was the Nazi regime in Germany that asserted that the people must conform to the ethnic and religious values dictated by the state, and brutally repressed all those who did not or could not because of their background.

The editorials rhetoric about human rights and the freedom of expression is a smokescreen for the real agenda of the New York Times and the dominant sections of the American ruling class. US imperialism is preparing for a catastrophic war against China to prevent it challenging American global strategic and economic dominance.

For the first time since the end of the Cold War, the United States finds itself in a contestwith a country in its own weight class, the Times stated. China has taken a hard line, and its time for the United States to respond in kind.

Ideologically, the conditions for war are being prepared with hysteria about foreign interference and infiltration, and accusations of treason against all those who oppose militarism. Last month, the Washington Post promoted a report by the Hoover Institution that declared that it should no longer be acceptable that scholars, journalists, diplomats, and public officials from the Peoples Republic of China be afforded unfettered access to American society.

The New York Times, the unofficial mouthpiece of the Democrats, attacked Trump in its editorial for not being aggressive enough. The president, it declared, had weakened the ability of American companies to stand up for American values by failing to firmly oppose Chinas demands.

However bitter the factional conflict in Washington, both the Democratic and Republican parties are committed to reversing the inexorable decline in American capitalisms global hegemony by means of confrontation and war against China.

Andre Damon

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The New York Times, China, and the specter of the Yellow Peril - World Socialist Web Site

A Former Bank Of England Governor Warned The 2008 Crash That Inspired Bitcoin Could Happen Again – Forbes

Bitcoin, created in the midst of the 2008 global financial crisis, is a response to the perceived instability of fractional-reserve banking.

Banks accept deposits while making loans and hold only a fraction of those deposit liabilities: a system which led to the U.S. mortgage loan-induced 2008 meltdown and caused bitcoin's creator, Satoshi Nakamoto, to embed the Times of London headline "Chancellor on brink of second bailout for banks" into bitcoin's genesis block.

Now, the former Bank of England governor Mervyn King, who served from 2003 to 2013, has warned the world is "sleep walking" towards a second global financial crisissomething that could have huge repercussions for bitcoin and other cryptocurrencies.

Mervyn King served as Bank of England governor during the 2008 financial crisis and the creation of ... [+] bitcoin.

King, speaking at the annual meeting of the International Monetary Fund (IMF) in Washington last week, said that by "sticking to the new orthodoxy of monetary policy and pretending that we have made the banking system safe, we are sleepwalking towards that crisis," adding a similar meltdown could have devastating consequences.

"Another economic and financial crisis would be devastating to the legitimacy of a democratic market system," he said.

"No one can doubt that we are once more living through a period of political turmoil. But there has been no comparable questioning of the basic ideas underpinning economic policy. That needs to change."

King's warning oddly chimes with comments made this week by Mark Zuckerberg, the chief executive of social media giant Facebook, when he was grilled by U.S. senators on Capitol Hill over his company's plans to create a bitcoin-rival, dubbed libra.

"I believe that this is something that needs to get built," Zuckerberg said, defending Facebook's involvement in the controversial project.

The current Bank of England governor Mark Carney has previously called for the creation of a global digital currency that could help prevent future economic meltdowns similar to the 2008 financial crisis.

"If the share of trade invoiced in [a digital currency] were to rise, shocks in the U.S. would have less potent spillovers through exchange rates, and trade would become less synchronized across countries," Carney said in August, speaking at the annual Jackson Hole economic symposium.

Meanwhile, China is expected to soon release a state-controlled digital currency that would work in a similar way to bitcoin, perhaps using bitcoin's underlying blockchain technology.

After surging in 2017, bitcoin crashed last year. This year it staged something of a recovery ... [+] following interest in cryptocurrencies from some of the world's biggest technology companies but has failed to return to its all-time highs.

Amidst the partial recovery in the bitcoin price this year, many bitcoin and cryptocurrency investors had hoped that bitcoin's reputation as "digital gold" would mean it began acting as a so-called safe haven asset, with investors buying into bitcoin at times of political and economic uncertainty.

This appeared to happen earlier this year,until the bitcoin price moved sharply lower as gold and the Japanese yen, two traditional safe havens, climbed.

The bitcoin price remains highly volatilite and no one is able to in anyway predict what the bitcoin price will do nextleading some to think that it won't be until the next financial crisis that bitcoin will become widely used.

"Bitcoin adoption has always been driven by bank failures, bailouts, bail-ins, and political unrest," said broadcaster and bitcoin bull Max Keiser late last year.

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A Former Bank Of England Governor Warned The 2008 Crash That Inspired Bitcoin Could Happen Again - Forbes

After Recovery To $10,000, Bitcoin Should Hit $100,000 In 2021 – Forbes

Bitcoin has had a roller-coaster week, with crypto market watchers on the edge of their seats for more wild price swings.

The bitcoin price dropped like a stone on Thursday, falling to five-month lows of just over $7,000 per bitcoin, only to bounce back to over $10,000enlivening what had been a stagnant market and leaving analysts scratching their heads as to the cause of the extreme volatility.

Ahead of bitcoin's sudden market moves this week, bullish bitcoin speculators had remained confident the market will explode over the next couple of years, with the big rebound further emboldening investorsand chasing away bitcoin bears, at least for now.

Bitcoin's wild swings this week have revitalized trader and investor hopes that bitcoin could be ... [+] back on course to top its all-time highs.

Earlier this week, widely-respected bitcoin analyst PlanB, who created the so-called stock-to-flow bitcoin pricing model, reiterated his expectation that bitcoin will hit $100,000 before Christmas 2021.

"Somewhere between and year and a year-and-a-half after the [May 2020] halving, so say before Christmas 2021, bitcoin should be, or should have been above $100,000," PlanB told Global Macro Investor founder Raoul Pal.

"If thats not the case, then all bets are off and [the model] probably breaks down. I dont expect that to happen."

The stock-to-flow pricing model calculates a ratio based on the existing supply of an asset against how much is entering circulation.

Commodities such as goldwith the largest stock-to-flow ratio of 62, meaning it would take 62 years of gold production to get the current gold stockhave a higher stock-to-flow ratio and are valued by investors for their scarcity.

Silver has the second-largest stock-to-flow ratio with 22 years for its production to reach the current silver stock.

Bitcoin currently has a stock-to-flow ratio of 25 though the model sees this increasing to 50 following the scheduled 2020 bitcoin halving.

In May next year, unless the bitcoin network computing power radically changes, the coin reward for mining new bitcoin blocks will drop from 12.5 bitcoin to 6.25 bitcoincutting the supply of new bitcoin coming onto the market by half.

Earlier this year, Morgan Creek Digital co-founder Anthony Pompliano similar predicted bitcoin will hit $100,000 by the end of 2021, pointing to looser monetary policy from the world's central banks and bitcoin's next halving as a "perfect storm"though not everyone agrees.

The bitcoin price stagged something of a recovery this week but remains far from its year-to-date ... [+] highs of almost $14,000 per bitcoin set in late June.

Following bitcoin's spike yesterday, those in the bitcoin and crypto industry were quick to jump on recent developments as an explanation for bitcoin's uptick.

"I do think Mark Zuckerbergs testimony got a lot of people worried of a bigger retaliation from regulators, but after most of the questioning had nothing to do with cryptocurrency or libra and with reports of China premier Xi describing blockchain as a 'rule of law network'spirits have risen and the bull is back," said Alex Mashinsky, chief executive of New York-based crypto lending platform Celsius Network.

China's president President Xi Jinping said on Thursday that the country should "seize the opportunity" of bitcoin's blockchain technology, taken by some that China could ease its strick bitcoin and crypto restrictions.

Ahead of Xi's comments, Facebook's chief executive Mark Zuckerberg was savaged by U.S. senators over his plans for a bitcoin rival, dubbed libra, leaving crypto investors with fresh fears there could be a global crackdown on bitcoin and other digital tokens.

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After Recovery To $10,000, Bitcoin Should Hit $100,000 In 2021 - Forbes

Forget ChinaIs This The Real Reason Bitcoin, Ethereum, Litecoin, And Ripples XRP Bounced? – Forbes

Bitcoin has swung wildly this week, as many had expected it to, with it losing $1,000 per bitcoin a few days ago before suddenly shooting back up earlier today.

The bitcoin price is now at over $9,000 per bitcoin after dropping to lows of almost $7,000 on Thursdayand heading fast towards the psychological $10,000 mark, according to the latest prices from Luxembourg-based exchange Bitstamp.

Elsewhere, other major cryptocurrencies ethereum, litecoin, Ripple's XRP, and bitcoin cash rallied between 7% and 23%, adding billions to the value of the combined cryptocurrency market.

The bitcoin price had been treading water for around a month before its extreme volatility this ... [+] week.

Many bitcoin and cryptocurrency market analysts pointed to comments made by China's president President Xi Jinping that the country should "seize the opportunity" of bitcoin's blockchain technology as the reason behind bitcoin's sudden rally.

China banned bitcoin and cryptocurrency exchanges in 2017 and some took Xi's blockchain comments as a sign the country could ease bitcoin and crypto restrictions.

"We must take the blockchain as an important breakthrough for independent innovation of core technologies," Xi reportedly said, speaking at the 18th collective study of the Political Bureau of the Central Committee in Beijing.

"[We must] clarify the main direction, increase investment, focus on a number of key core technologies, and accelerate the development of blockchain technology and industrial innovation."

However, Xi's comments, which referred only to blockchain technology and not to bitcoin and cryptocurrencies, might not have been the driver behind bitcoin's recovery.

Following bitcoin's sudden drop earlier this week, bitcoin and crypto investors feared the worst wasn't over the for the market.

The bitcoin price has suddenly surged after a sell-off earlier this week, leaving many bitcoin and ... [+] crypto traders scratching their heads.

Facebook's chief executive Mark Zuckerberg was savaged by U.S. senators over his plans for a bitcoin rival dubbed libra and crypto investors are fretting there could be a global crackdown on bitcoin and other digital tokens.

Elsewhere, technical data pointed to a so-called "death cross" for bitcoin, while the Fear & Greed Index slumped and a Twitter reading of investor temperature was poor.

"Sentiment in the crypto market is very low right now," eToro senior market analyst Mati Greenspan wrote in a note to clients before the pump earlier today.

This sentiment slump meant investors bet against the bitcoin price, predicting it would move lower.

When the bitcoin price recovered a couple of hundred dollars per bitcoin in just a few minutes, some $150 million worth of short positions on the Seychelles-based BitMEX crypto exchange were liquidated, according to bitcoin and cryptocurrency analytics provider Skew.

This triggered what's known as a "short squeeze," where an asset rapidly increases in value due to short sellers trying to cover their positions, resulting in buying volume that drives the price up.

"Sentiment can change pretty quickly in this market, especially while volumes are low," Greenspan added in his earlier note.

A small uptick in the bitcoin price led to millions of dollars of bitcoin short positions being ... [+] liquidated.

Bitcoin volumes have been struggling recently, leaving the market especially vulnerable to so-called whales placing large orders or liquidating short positions.

Bitcoin trading volume among the top ten biggest bitcoin and crypto exchanges has fallen to under $200 million a day, according to bitcoin and crypto data company Messari, down 20-fold from a peak of $4 billion per day just a few months ago.

Adding to the market turnaround, bitcoin futures exchange Bakkt recorded a new all-time high in daily trading volume with 1156 futures contracts traded today.

It was Bakkt's lacklustre volumes that many believe triggered bitcoin's fall from its $10,000 plateau late last month.

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Forget ChinaIs This The Real Reason Bitcoin, Ethereum, Litecoin, And Ripples XRP Bounced? - Forbes

Bitcoin Has Crashed AgainWhat Now? – Forbes

(Photo Illustration by Chesnot)

Ive been drawing and posting the following chart, and variations on it, a lot recently and being bearish that the outcome would be a breakdown.

The Bitcoin chart as I have been drawing it lately

So here it is and here is a bearish map:

The Bitcoin chart is bearish

So we are looking down the barrel of another potential $1,500 drop.

What to do?

Firstly, a change in the global situation could dramatically change the picture.

Bitcoin (BTC) is falling because China is closing with the U.S. on a trade deal.

The recent sudden fall, at least in my model, is because the deal suddenly got much closer.

Again, in my model we should hear this good news in the coming days.

What to do depends on your position:

Personally Im buying the dip and happy to have an equity hedge. BTC seems to have 5-10 convexity to my equities, so what is not to love?

Its hard to sit there and watch positions take a beating but that is what hedges do. The key is the overall result and one thing is for sure, chopping and changing is expensive and very, very hard to get right.

So buy and hold and dollar cost averaging is the way to go with BTC and it looks like there is some cheaper BTC coming our way.

Forbes Special Offer: Click here to get How To Gain Early Access To Crypto Asset Projects.

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Clem Chambers is the CEO of private investors websiteADVFN.com and author of Be Rich, The Game in Wall Street and Trading Cryptocurrencies: A Beginners Guide.

In 2018, Chambers won Journalist of the Year in the Business Market Commentary category in the State Street U.K. Institutional Press Awards.

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Bitcoin Has Crashed AgainWhat Now? - Forbes

Stablecoins Are The New Bitcoin In Congress – Forbes

In one of the wildest twists to the cryptocurrency and blockchain industry, the House Financial Services Committee held a hearing with Mark Zuckerberg, CEO of Facebook, to ask questions about the Libra Association and the companys foray into digital money. While many questions at the hearing went predictably to Facebooks ad revenue process, censorship practices on posts, its reputation on data and impacts of foreign adversaries using the platform to influence the 2016 Presidential election, a nuanced policy result entered into the debate.

INDIA - 2019/10/09: In this photo illustration a popular cryptocurrency Bitcoin logo seen displayed ... [+] on a smartphone. (Photo Illustration by Avishek Das/SOPA Images/LightRocket via Getty Images)

A bill titled Stablecoins Are Securities Act of 2019, discussed how managed stablecoins should be treated as securities under the SEC. It was over five years ago when U.S. Senator Joe Manchin (D-W.Va.) called on U.S. regulators to ban bitcoin. In the July hearing, Congressman Warren Davidson (R-OH) created a great deal of excitement in the cryptocurrency space when he stated, Theres Bitcoin and Then Theres Shitcoin (Libra).

Indeed, Congress has come a long way in being able to decipher between different blockchains, including a much more decentralized Bitcoin blockchain model operating since 2009, against what starts out as a more centralized approach with Libra. The Ranking Member of the House Financial Services Committee, Patrick McHenry (R-NC), noted on a recent podcast with Laura Shin called Unconfirmed that Bitcoin will be of enormous value.

It is clear that while Congress was originally very explicit to the point that many who discussed policy on the subject of cryptocurrency with Congress would avoid using bitcoin and go through great pains to separate bitcoin the cryptocurrency from blockchain the technology.

Indeed, the fluctuations in prices for cryptocurrencies painted a picture similar to the Wild West that caused a great deal of unease as the public started to profit in 2017 with a boom in prices, followed by a bust that left many disgruntled. As companies continued to see potential value in these new types of digital coins, soon the idea of finding a way to create stability by backing them with FIAT currencies on a 1-to-1 basis became extremely popular.

Companies in the industry space such as Tether queued the banks to look at this stable phenomenon, as JPMorgan Coin was introduced. Soon, its very likely Facebook got the memo and realized the creation of a cryptocurrency was a worthwhile endeavor for enabling global payments on a mass scale if the price could remain stable.

In a response similar to the idea of simply banning Bitcoin in 2014, many in Congress see Libra as an impending threat to the U.S. dollar and that, while Bitcoin likely cannot be banned in the U.S. as has recently been mentioned, perhaps Libra could be stopped through legislation. Indeed, the worst case outcome for any of the cryptocurrencies established on blockchains would be to receive the treatment as a security. This is the death knell for most companies as needing broker-dealers to facilitate transactions on digital tokens that are not truly equities means business cannot exist or scale in any meaningful way.

So, for a bill that is described as Stablecoins Are Securities Act of 2019, the problem of course is how broad of a definition this implies. As the bill refers to managed stablecoins, perhaps the basket of currencies that Libra was originally thinking of to create stability might shift to different iterations backed directly by a FIAT currency, to avoid the security label.

Of course, this still indicates that, from a policy perspective, while no bill has been introduced to ban Bitcoin, no one ever expected the introduction of Libra would result in additional scrutiny for cryptocurrencies providing stability in value. Thus, while bitcoins virtues of decentralization are being extolled in comparison to other cryptocurrencies, it seems that the bigger threat to the status quo is not decentralization through blockchain technology, but rather the mass distribution of digital carbon copies of tokens that provide a derivative of a fiat currency.

For more details on the Stablecoins Are Securities Act of 2019, see the draft bill below:

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Stablecoins Are The New Bitcoin In Congress - Forbes