Tech expert and Technology Profits Confidential, Penny Pot Profits, FDA Trader, and Breakthrough Technology Alert editor Ray Blanco called me up yesterday.

Rays so busy these days, he only calls when hes excited or angry about something.

Yesterday, it was both. Right away I asked Ray if I could record the call, transcribe it, and send it to you.

I did something similar back on April 14, when I had lunch with Ray and we discussed the current state of the pot stock market.

Sure. Everybody should see this, Ray said yesterday when he called.

What follows is a light edit of our conversation. This time, were NOT talking about pot stocks.

Amanda Stiltner

for The Daily Reckoning

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Ray Blanco: The Beginning of the End for Bitcoin

Thursday, May 4, 2017

12:09 p.m.

Call recorded from Agora Financial offices, Baltimore, MD

Amanda Stiltner (AS): Ray? The recordings on now. Say that again.

Ray Blanco (RB): Book it. Bitcoins finished. The New York Times, on Saturday, I think it was April 29, anyhow, said the hacker who tried to get a ransom from Netflix over the new episodes of that show

AS: Yeah, the hacker who stole the episodes of Orange is the New Black and threatened to release them

RB: Right, yeah. That hacker, according The New York Times, was part of another hack last year and demanded ransom payment in bitcoin. Some small charity in Indiana.

The charity didnt pay. The hacker ended up wiping away their servers.

AS: Ok

RB: You and I had that lunch conversation last month you recorded. You asked me what tech trends Im negative on. I mentioned bitcoin. Id like to reiterate that. Id like to double down on it.

AS: Ok, not sure I follow.

RB: Forget the hack. Forget Netflix. In the grand scheme, thats noise. Not the real story. The real story is the hacker wanted to get paid in bitcoin. Bitcoin has political risk right now like nothing else I see.

AS: What do you mean by that?

How Bitcoin Could Be Banned Overnight

RB: Heres a scenario. Some major hospital group gets hacked. Boeing gets hacked. Something big and important. Something where lives could be on the line. Not just episodes of a TV show. If that hacker demands payment in bitcoin, thats it. Bitcoins cooked.

AS: How so?

RB: Congress steps in. Passes layer upon layer of complex regulation and basically outlaws it. They outlaw digital currency and make it the same as human trafficking or something.

AS: This is you exaggerating, right?

RB: No, its me forecasting. Its me looking at a real-life situation, reading the news, and making a call on what happens next. I look at bitcoin right now, I see huge risk.

Blockchain advances all get figured out in the years ahead regardless. Bitcoin itself, its doomed. The end is near. Soon as Congress has a reason, they figure out how to shut it down. You mark my words. Too many banks have too much to lose. And if we know one thing, its that big banks and Congress are part of the same beast.

AS: So whats the move?

RB: The move is, like Ive said before, folks have to get their heads out of the clouds. Digital currency the anonymity, quote unquote security thats all great in theory.

In reality, in the real world, all those great parts have just as many if not more potential pitfalls.

The sooner people realize that, the better. You bet on bitcoin, youre playing with fire. I cant be clear enough about that. Theres too much REAL good news around us thats compelling and actionable for me to spend one more second thinking about bitcoin.

Real Opportunity, Real Gain-Making Potential

AS: If youre not talking to me right now, imagine youre talking to your readers. What do you tell them?

RB: Again, I feel like a broken record. Because I hammer these same points all the time.

Theorys great. The futures great. I spend a lot of time neck deep in both theory and future investing trends.

But for TODAY, right now, whats real and actionable in the world around us go with what you can verify. Go with the investment ideas that are grounded in real life, not floating in the clouds.

AS: Yeah, but like what? Give me something specific.

RB: Pot stocks. Legal cannabis is going to be a $20+ billion industry just a few years from now. You know what it was just a few years ago? Zip. Thats real. Thats reality. Thats a trend our readers can act on.

AS: You are a broken record.

RB: Told you! Ok, heres another one. Medical knowledge. A century ago, scientific understanding of topics like cancer or heart disease was medieval by todays standards.

If you put the scientific progress in medicine over the last century on a timeline, your head would spin when you realize how far weve come. Its fantastic. Its exciting. Its investable. And most important its real.

AS: Like the Gold Protocol research youve compiled?

RB: Exactly. You want to take this conversation and point readers in the direction of something real. Something that could make them big gains. Show them that Gold Protocol research. Its a fascinating gold story. It could also have a huge medical impact. Save millions of lives.

AS: Thanks, Ray. Ill do that. Any final thoughts before I let you go?

RB: Get out of bitcoin while theres still time! Forget it!

AS: (Laughter) Thanks Ray, I think you made that point clear!

RB: Good. Can never be too sure. Nice talking with you. Bye.