Bitcoin is going to smash all the other cryptocurrencies, according to broadcaster Max Keiser
By Max Steadman – Cryptocurrency Speculator
Famous TV host Max Keiser recently demonstrated that Bitcoin's growing hash rate is dramatically more important for humanity than its worth. He assumes that the increasing need for energy to support the network and cryptocurrency trading will inevitably result in the fall of altcoins and fiat currencies.
Following a recent tweet from the famous journalist, Keiser claims that Bitcoin was conducting a 51 percent assault on world energy sources. He highlights Bitcoin's desperate need for ‘increasing amounts of energy’ to fuel its expanding hash rate and goes onto elaborate that this will start using energy from other areas of the economy. He ends by suggesting that this in turn ‘will transform civilization as we know it.’
He added that Bitcoin displays the features of an autonomous, life-like entity, which is responsible for ‘a 51% attack on the global energy supply.’ Keiser goes on to say that this is a hopeful result that humanity must accept as a "life-saving fortuitous break." He goes on to warn that without it, people will face a dangerous landscape of ‘central bank authoritarianism’ and permanent deprivation for all non-central bankers.
According to Max Keiser, rising demand for energy supply into Bitcoin's ever-increasing hash rate would result in the crash of altcoins and fiat currencies.
Keiser acknowledges this global trend, highlighting this same shift taking place in countries such as ‘Argentina, Iran, Venezuela, and Zimbabwe.’ He suggests that next, ‘we’ll start to see the USD, Yen, Euro, Renminbi, and Pound start to die off’ and puts this down to the fact that the energy required to maintain these ecosystems will be ‘unstoppably poached by the Bitcoin protocol.’
Keiser continued to say that the only survivor would be gold, to then go onto accept that BTC will eventually reach the volume of the precious metal market size and soon begin poaching energy from that sector as well. Are Keiser’s prediction unrealistic? We will have to as the network develops.