In God I trust ... no really, here’s my bible...
Dear Friend and HODLer,
Did you know that the Doge of Venice had a bible with a GUN in it?!
Yup, and, even better, you could pull the silk bookmark to make it fire.
Now that's what I call a plan-B!
A pro-po — do you have a plan-B? Because...
RED PILL ALERT!
Are you part of a neo-pagan cult?
I believe in a healthy “self-check system” — a reality check.
Sometimes I post a prediction of mine in Quora...sometimes I make a prediction on Twitter...
The point is — I do this to prove myself WRONG.
A wake up call.
A reality check.
You see, the problem is that today everything is an echo chamber.
The internet used to be open and FREE.
Do you remember the days when there were no country codes on the internet?
Not even 2 years ago there was no such thing as “Netflix.DE” (Germany) there was just “Netflix.com” for the whole damned world...
Which means people in Germany used the .COM Netflix and were exposed to “American” stuff in the American Netflix.
Now we, the entire internet, and the state owned fake-news industry is segregated into airtight bubbles.
The danger is “Rock Star Syndrome” or RSS...
“Rock Star Syndrome is the point at which we start believing our own BS.” — Eric Z
And once we start believing our own BS — we are in BIG trouble.
The world starts crashing down around you when you finally do get that inevitable reality check.
And so dear reader, I offer you now, an important reality check — find out if you are in a neo-pagan cult:
Some may think I am a total Coingeek fan now, a BSV aficionado...
WRONG, I am open to all.
And you too should get your info from both sides: Coingeek (pro BSV) AND Coindesk, Cointelegraph etc.(all pro BTC)...
We, you, must break this teenage logical fallacy that “There can be only one.”
This — life — is not Kung Fu theater!
“My master is better than your master...my style of Kung-Fu is the best...”
NOPE: There will be more than one, and they will thrive...
It’s important for you to keep an open mind and invest your money accordingly without emotion.
That's why the majority of Benjamin Graham’s book “The Intelligent Investor” addresses solely the methods of “taking the emotion out of it.”
**End of Rant**
Kleiman vs Wright! 2 Sides of the Coin!
Pro:
Con:
DANG! Looks like we are not going to get clarity until after Thanksgiving:
“...parties told the Judge on Wednesday that they don’t expect to be finished before Thanksgiving.”
Friendly Reminder: This trial could clarify once and for all who Satoshi Nakamoto is!
(My prediction is 98.5% certain and in CryptoRevolution #9)
Hayek’s Prophecy
Bam boom bang—HAYEK the godfather of money lays it on the line!
Friedrich Hayek Predicts The rise of Stablecoins, Bitcoin and Cryptocurrency:
“I think we can forget about existing money and existing banks, and gradually open a system of accounts which will displace money...” (!)
“I don’t believe that we should ever have good money again before we take the thing out of the hands of government — if we can’t take them violently out of the hands of government, all we can do is by some sly or roundabout way introduce something they can’t stop.”
!!! This leaves me speechless every time. Did Satoshi Nakamoto take lessons from Hayek!? Did he see this video?
Because he sure did fulfill Hayek’s prophecy!
Notice how Hayek’s prophecy above kind of counters Nassim Taleb’s criticism that “Bitcoin is less of a currency...”
Maybe, like a lot of things, Nassim is technically correct, 100% correct (!) — but Bitcoin is a good start, and it PUTS US ON THE RIGHT PATH.
Hayek was speaking “globally” at the concept level, and Nassim was speaking technically, at the application layer.
We have an eternal example of this with the United States Constitution’s Second Amendment
“...the right to keep and bear arms shall not be infringed.”
A: “But that was written 200 years ago — they meant muskets!”
B: “Wrong — do you have a problem with the English language? They wrote “arms” so that it is timeless. It means we can use whatever the F we want — whatever is the modern version of arms!”
Back to bitcoin: Yep, Nassim is right, Bitcoin i.e. BTC in its present form is not a very good currency.
That’s why there is BSV, BCH, LTC, and many more but...
It’s up to “the market” to decide...hmmmm, the market....
Could that be us!?
Regulation
The supreme necromancer won’t go away...
Once again, from behind the scenes, the Powers-That-Be show us who really is pulling the strings:
The broken record of “Bitcoin destabilizes nations states” etc. etc. is becoming more annoying than it is boring.
And of course the example of El Salvador STABILIZING their nation with Bitcoin is intentionally ignored.
...Oh, and have you noticed? Since when was Hillary such a “nationalist”!?
Didn’t she campaign against nationalism?
Institutional adoption
PayPal launches their Crypto App!
Once again PayPal is clogging the headlines with their new crypto venture...
I really like their version of buying and trading crypto. Like Coinbase, they are making buying and investing in Bitcoin “Grandma Safe”.
However, there is one big “NO GO” —
It was in the last version of the app too...
You cannot send your coins to your own wallet!
So until this feature is included I would not recommend this app.
Not your keys — not your coin!
Q: But why the big deal about “keys” Eric?
A: Did you know that if there is a FORK, and a new blockchain+coin are created, you get BOTH?
For example, when BTC was forked and BCH was created, I got 1 BCH for every BTC I had.
Yes you read that right — that’s FREE MONEY!
Your money DOUBLES with every fork, but ONLY IF YOU HAVE THE KEYS...
If you don’t have the keys, you cannot “split” them into the two new resulting chains e.g. BTC and BCH.
If your coins are on a platform like Coinbase, or PayPal, you do NOT get the new fork (split).
The platform could decide to partake in the fork, but they usually do not.
So once again, I must refer back to Rule #1:
Rule #1: NEVER keep your coins online in any way on any platform.
Price action
The best price action advice comes from our buddy Nassim Taleb (again!):
Did you know?
Nassim Taleb and Jordan Peterson got in a “flame war” on twitter.
Jordan Peterson claimed that IQ directly correlates to success, as in higher paying jobs.
Nassim didn’t just correct him, he rubbed the salt into the wounds too, in typical Talebian style.
(In defense of Jordan Peterson: he should have said that IQ correlates with LOW paying jobs; that would have been correct. And IQ tests are indeed good at identifying low IQ. But once again, we have one person that is talking at a higher level, and another who is in the weeds/technicals.)
If Bitcoin had a beauty contest...
The most ENGAGING and informative weekly Bitcoin VLOG is definitely “Coingeek Pulse” hosted by Stephanie Tower — “Never miss the bitcoin beat!
Let’s Buy the Constitution!
*UPDATE* This auction just ended - unfortunately the DAO did not win Sotheby’s auction for the constitution :-(
YES it’s true, a real copy of the constitution is being auctioned at Sotheby’s!
And in true crypto-entrepreneurship fashion — a team of people formed a DAO (really quickly!) and started the bidding process with Sotheby’s...and...
YOU CAN PARTICIPATE —You can buy a share HERE!
Deep Dive
Learn about Bitcoin FORKS here — they are super important — MUST READ!
That’s it for this week my dear crypto aficionado and monetary master :-)
Keep your Bitcoins dry and have a great weekend!
Eric
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P.S. I’m buying a piece of that constitution! Follow me on Twitter or Bitclout and I will follow you back :-)
P.P.S. Did you claim your free copy of the DEAD SIMPLE Bitcoin tracker?