The price of bitcoin, which had ballooned to almost $20,000 by the end of 2017, had collapsed to less than $4,000. Meanwhile, initial coin offerings, a lightly-regulated method of raising capital in exchange for tokens with limited rights, had all but dried up – along with many of the smaller crypto-coins they had spawned.
While the price of the major cryptocurrencies recovered in 2019, the bigger story was one of regulators and institutions moving to instill greater confidence and infrastructure in the market.
Facebook’s proposed cryptocurrency, Libra, was officially unveiled on June 18. Working as part of a consortium of major corporations, the social media giant aims to create a new kind of “stablecoin”, a cryptocurrency linked to a basket of low-risk assets, for use across its family of apps. The potential scale that Facebook and its more than two billion users could bring to the market excited some, while giving regulators a fright. Read Article …
Opinion: Not even one of twenty-one financial experts perceive any connection to end time prophecy, for example:
Keith Skeoch, CEO, Standard Life Aberdeen
“Today I can’t see digital currencies being widely used by individuals, let alone central banks. There again, 10 years ago I didn’t envisage mobile phones being used as debit cards.”
Let’s work backwards from what we know.
We know from Revelation 13 that a global ruler will take the world stage with such great power that even buying and selling will be controlled. Not only will there be no paper money but in order to achieve total control, a single digital currency will be necessary.
“He causes all, both small and great, rich and poor, free and slave, to receive a mark on their right hand or on their foreheads, 17 and that no one may buy or sell except one who has the mark or the name of the beast, or the number of his name.”
We know from Revelation 13:1 when Antichrist is revealed with a peace treaty (Daniel 9:27) marks the beginning of what Jesus called the Great Tribulation (Matthew 24:31). We know that prior to being revealed, Antichrist will be behind the scenes, possibly an up and coming leader in the EU, as described in Daniel 7:24.
“The ten horns are ten kings Who shall arise from this kingdom. And another shall rise after them; He shall be different from the first ones, And shall subdue three kings.”
We know from Daniel 7:7-8, of the final Gentile world kingdom of revived Rome. A beast so wicked there is no animal comparison, trampling the residue (earth) with its feet. Daniel calls the eleventh king ‘the little horn’:
“While I was thinking about the horns, there before me was another horn, a little one, which came up among them; and three of the first horns were uprooted before it. This horn had eyes like the eyes of a human being and a mouth that spoke boastfully.”
And we know that the infrastructure for digital money transactions, Blockchain, is in place. And we know that all that is needed now is a catalyst that will begin a massive reset of the global economy.
In 1 Thessalonians 4:16-17 Paul prophesied a catching up of believers will occur to take those who have accepted the pardon for sin that the cross of Jesus Christ provides to meet Him in the clouds.
When that happens, the economy of the largest Christian nation in the world will be devastated, opening the door to the 2nd largest economy, the European Union to appoint its long awaited Super President.
What we don’t know is when it will happen, but Jesus admonished those who do not pay attention to the signs of the times.