Holy Carp Diem!
This week was going off!
Let’s start it off with a quote from...me!
“It’s not just about first-mover advantage — it’s about first-mover CONFIDENCE.” — Eric Z
Yes, I quoted myself — I had to...why?
Because the droning question always comes up: “What’s backing bitcoin?”
There are a lot of problems behind this question.
First of all, is the lie that something is “backing” the USD.
But it points to a basic human need, and that is the fundamental human concept of money, AND that there should be something “backing” our money!
So I answered the question this way:
Bitcoin is the market leader of all crypto’s, and has been ever since its inception!
Do you see that 844 BILLION (yes Billion!) dollar number in that screenshot?
That is NOT dollars.
That is Rubles, Yen, Euros, Pesos, Yuan, Schillings, Lira’s, you name it! — all expressed in USD.
The entire world has voted, and they voted for bitcoin,
Unanimously...
And confidently
Year after year
Over the years, Bitcoin remains unbeatable. That’s why some have serious evaluations and projections of 60k by THIS October! (see “price action” below)
Bitcoin
READ THIS FIRST...
This is a wonderful look at cognitive biases (there are over 1,000 of them!) and Bitcoin.
I, like you, am human and subject to hardcore cognitive biases.
As a matter of fact, sometimes I think that that is what life is all about: seeing through the BullShit!
When it comes to bitcoin the main cognitive biases are:
Unit Bias
Anchoring Bias (boy do I have this one — every day!)
Hindsight Bias
In order to see through the BS, READ THIS, and then take a look at Bitcoin’s performance over 10 years:
There’s nothing on Earth that can claim a 700,000% gain in 10 years. Nothing.
Ever wonder what the heck those laser eyes are about?
Here they are:
The President of El Salvador is going all-in with bitcoin!
Volcano energy to mine bitcoin!
I really like his aggressive stance — he is openly taunting the IMF!
Kids in the Koin
This is what I LoOove about the Cryptocurrency world;
Kids as young as 9 years old getting in and rocking the boat!
This brother and sister pair made an Uncensorable voting platform!
Regulation
How do you beat the government at its own game? — hire them!
BINANCE is seriously getting serious; srsly.
They are hiring ex IRS agents.
But not just any IRS agents, the very same IRS agents that were responsible for the Silk Road bust AND the Mt.Gox investigation...
That’s how it’s done!
They are hiring:
Tigran Gambaryan as vice president of global intelligence and investigations and...
Matthew Price as senior director of investigations
“THE BINANCE INVESTIGATIONS TEAM NOW INCLUDES THE TOP INVESTIGATORS IN THE WORLD, THIS LEVEL OF EXPERIENCE WILL MAKE BINANCE A LEADER IN COMPLIANCE, ENHANCING TRUST IN BINANCE AND THE CRYPTOCURRENCY ECOSYSTEM AS A WHOLE.”—CHANGPENG “CZ” ZHAO
DeFi…
Defi is EXploding!
Oh...but we knew that. Ok — here is an article which shows exactly how much Defi is exploding by.
Check it out — it’s mindblowing.
OpenSea, the #1 NFT trading platform is the most “explodingest” right now.
NFTs
So WTF is so cool about NFT’S?
TLDR; it’s all about the “NON FUNGIBLE” part.
What is non-fungible?
It means it is unique — and cannot be copied.
THERE IS ONLY ONE...
And now because of blockchain technology we can PROVE IT. — that’s the new part.
The part which is enabling all of this NFT stuff.
So now we finally see a concrete example of why this is so damned cool:
Now we can take a super valuable painting, SCAN it with a high power scanner, and PROVE that this image is THE image of the painting...
And more importantly — we can use the new scan to prove that the painting is also the original painting!
FRAUD PROOFING!
Check this out — Sotheby’s is using a Picasso painting as the first proof.
Institutional adoption
VISA is going all in!
As in previous issues of CryptoRevolution, Visa is now srsly going “all in” — they have now unveiled their UNIVERSAL PAYMENT CHANNEL, or UPC.
What is a universal payment channel?
Well — exactly that, “universal” — it shall connect everything.
Different blockchains, different currencies, and all of them to each other!
Is it possible?
Yes it is, and it is already happening, it’s called XRP! (Ripple)
Visa’s UPC is direct competition to Ripple Lab’s XRP which already does exactly that.
Read Visa’s pipe dreaming highlights:
“The timing of Visa’s announcement is significant as both stablecoins and CBDCs are receiving considerable interest from governments and regulators around the globe.
Visa is replicating the traditional system for the blockchain era and making a huge bet in the belief that stablecoins such as the USDC and CBDCs would become a standard mode of transactions in the near future.
Replicating The International Payment Experience On Blockchain”
So what does this really mean?
It means that Gary Gensler’s case against Ripple Labs/XRP is actually a diversion tactic from the government to STALL for time until Visa’s UPC is online.
Gary Gensler is doing the government’s work of course,
And the government wants control.
If you read between the lines of the article, you will see it is all about CBDC’s!
What is a CBDC?
CENTRAL BANK DIGITAL CURRENCY
You see, the United States federal government has twigged on to cryptocurrencies a long time ago.
However, crypto is out of the control of the United States Federal Reserve and Washington D.C.
Hence the CBDC — a coin issued by the federal government.
THAT is why the SEC (Gary Gensler) is suing XRP.
THAT is why he will not define the laws with which he is suing XRP.
Because to sue XRP will undermine the coming CBDC. (if XRP=”bad” then CBDC=”bad”)
KEEP AN EYE ON THIS...
Once Visa’s UPC is online and gains traction Gensler will back off the XRP case.
If Visa’s UPC does not gain traction — XRP=dead.
However, with Visa’s clout and monopoly on the market, I can hardly see how their UPC will not take off.
Visa is like Microsoft in this case: if they bring out a new browser, it automatically becomes the “default.”
People who use Visa will automatically be using UPC without even knowing it.
—
And here is more insight about how China is implementing CBDC’s to control their people:
“They want the digital yuan to have a sort of coming-out party at the Olympics,
It wants to gain greater insight into how money is flowing in the country, something that is hidden in cash transactions
It aims to regain control overpayments that are increasingly mediated by private firms”
Altcoins
Here are some upcoming crypto events — interesting indeed!
Price action
What is plan B? — WHO is Plan B?
I dunno but he has NAILED the bitcoin price predictions two months in a row — and is predicting 65k by THIS month!
Best Posts of the Week
All of the central bank necromancers (a.k.a. idiots) who previously said “bitcoin isn’t backed by anything, bitcoin has no intrinsic value, blah blah blah” are now investing in bitcoin and making their own blockchains!
Friendly reminder: JP Morgan’s blockchain is called “quorum”.
That’s it for this week, my friend,
remember to help YOUR FRIENDS rise above the FUD and…
See you at the top!
Eric
P.S. FUD = Fear Uncertainty Doubt