Analysis

By CCN: The man, the meme, the legend – Alex Jones has become an ingrained part of the Bitcoin subculture in recent years, thanks to several revelations made on his flagship show Infowars.

The following five “theories” offered up by Jones are controversial, conspiratorial, and, at times, contradictory. Among the supporting cast, we have Jack Dorsey, Charles Ponzi, Peter Schiff, and Joe Rogan. There’s even a cameo appearance by George Soros as Nouriel Roubini.

…The World of Bitcoin According to Alex Jones (2019)

1. Bitcoin is Nothing But a Ponzi Scheme

During a discussion with stockbroker and financial commentator, Peter Schiff, Jones declared Bitcoin to be little more than a Ponzi scheme. This was in the aftermath of Bitcoin’s year long decline – mere days after it struck a fifteen-month low in December 2018. The sign of a sore, salty investor?

Jones told Schiff when he rejected money to advertise cryptocurrency it was because he sensed its impending collapse:

“That means they’re about to dump it… They’re pulling their money out of the Ponzi scheme, and they wanna bring in all the new suckers with the big advertising push to prop it up. So it collapses months later, and they don’t get the blame for pulling their money out – which is the crime – when they know it’s going down. It’s called a pump and dump.”

Again, reading between the lines, there’s every chance that representatives from cryptocurrency projects pitched Jones some advertising deals. Especially in the run up to BTC’s peak price point, when ICO money was just starting to explode.

Ultimately his Ponzi notion becomes less viable by the day. Not because cryptocurrency is suddenly a ‘safe bet’, but rather because it’s becoming useable in ways that Charles Ponzi’s tokenized shares never were.

2. Likes Altcoins; Not a BTC Maximalist: “I want 100 Big Cryptocurrencies”

Another Infowars segment had Jones declare that he was not a Bitcoin maximalist, and that he wanted to see at least a hundred major altcoins. Contradictory to the previous point, Jones says he’s not opposed to cryptocurrencies:

“Obviously I’m not against cryptocurrencies. I understand the federal reserve is fiat – I’d like to have a thousand different currencies and we choose the best, whichever becomes dominant. But I want 5 or 6 big ones – 100 big ones, whatever.”

What about some Ethereum, Alex? Bitcoin Cash? Litecoin? Maybe you’re one of the hipsters banking on Cardano coming good? Or maybe you’re small-cap guy, going all in on [insert generic altcoin here].

Jones’s impassioned altcoin rally came as a pointed retort to Jack Dorsey’s Bitcoin love-in on the Joe Rogan podcast. Regardless of these personal motivations, the prospect of a competitive altcoin economy seems far preferable to one dominated solely by the increasingly unuseable, high-fee Bitcoin.

Speaking of Rogan and Dorsey…

3. Rogan and Dorsey are Leading a Globalist Bitcoin Takeover

Jack Dorsey found himself in Jones’s crosshairs after the Infowars man was blacklisted from multiple internet-based sites and services, including Twitter. After Dorsey appeared on Joe Rogan’s podcast talking up the prospect of a Bitcoin-led internet future, Jones exploded.

As first laid out in Hacked at the time, the Dark Side of Dorsey’s Bitcoin push belied many uncomfortable truths concerning censorship, and betrayed a lack of intellectual diversity among the tech elites.

In the days following Dorsey’s JRE appearance, Jones suggested Bitcoin was the central component in a global internet takeover:

“It shows that Bitcoin has always been controlled. There’s all these other cryptocurrencies, but Jack Dorsey’s like ‘No, this will be the one, it’s the only one, we don’t care if it’s popular: we’ll use this one’.”

Dorsey is a known Bitcoin holder, an investor in Lightning Labs (a Bitcoin development group), and an exclusive pusher of BTC via his Square mobile cash app. With this in mind, perhaps Jones’s barbs were a well-placed reminder of the dangers of centralization of powers – especially in the hands of censor-happy Silicon Valley ideologues.

4. Bitcoin Was Supposed to Take Alex Jones Down With It

During the run up to December 2018’s all-time high, the pressure on Jones to advertise Bitcoin increased. Jones told Peter Schiff he was receiving numerous offers every day.

“I could have made in the last six, seven years: $300 million, literally, going with all the Bitcoin people and everything else. I know what people got paid; [They] offered me a million a month – real companies… And I never endorsed it because at the end of the day I thought it was going to be like the tulip bubble.”

But according to Jones, this was part of a plan to tarnish his own reputation. Jones suggests the plan was to first associate his name with Bitcoin, and then dump both of them. He says he was:

“…getting offered by five or six companies a day now; millions of dollars a month to advertise this. I go: ‘I think they’re just trying to set me up so when it goes down my name’s on it’. So I’m glad I didn’t.”

5. George Soros Offered Him $5 Million to Pump Bitcoin

After a long absence from the Joe Rogan podcast, Jones returned earlier this year and made possibly his grandest, and most consequential revelation to date. That was his claim that George Soros, through intermediaries, offered him $5 million to pump the value of Bitcoin via his Infowars viewer-base. Jones told Joe Rogan:

“I got told eight years ago – I got told by two different people, two very well known rich people, they said: ‘George Soros likes you. He wants to work with you… [as does] Alexander Soros… you just need to stop attacking him… and by the way, we want you to pump Bitcoin.”

Without passing judgement on the veracity of Alex Jones’s claim, let’s examine its possibly ramifications. If true, it would mean Soros, and by association, the financial old-guard of the Western world, had their hands on Bitcoin from the start, or late 2010 at least.

Undoubtedly, the chances that one of those old-guard would reach out to the man with the biggest mouth in the west are slim at best. But if we take ‘Soros’ as a very loose synonym for the financial elite in general, then perhaps there’s reason to be suspicious.

Check out: ‘Crypto Conspiracies: Fact or Fiction?’ for more.

6. (BONUS) Alex Jones is Satoshi Nakamoto?

Alright, Jones has never claimed to be Satoshi Nakamoto, and it’s unlikely anyone will ever accuse him of being the anonymous, pseudonymous creator of Bitcoin. But there are some people who think he’s Bill Hicks.

Alex Jones Bill Hicks

As per official market data, none of Jones’s statements had any effect on the value of Bitcoin.

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