Hello my friends, I have a…
Big Announcement
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Bitcoin
This is what happens when central planners are in control of your money:
In Venezuela their money is so worthless they make paper crafts out of it!
EDWARD SNOWDEN weighed in on Bitcoin - Epic!
Regulation
Gary Gensler, the darling of the crypto community, confirms “he” won’t ban crypto.
But when he is confronted about his weasel words and hiding behind ridiculous definitions and arbitrarily picking the winners and losers, he reverts to “we...”
NFTs/social tokens
All I can say is: GET IN!
Somehow, some way. For example…
DC comics just offered FREE NFT’s!
If you join their FANDOME event, you will receive a free NFT, then if you share it, you will receive another.
I did and got this:
Looking Forward: If you are an artist, DEFINITELY mint some NFT’s of your art!
Institutional adoption
El Salvador started it...
Now Moneygram has made the next move to KILL Western Union
Seeing the writing on the wall, Moneygram is being proactive. In order to survive they need to embrace the new technology and ride the wave into the future.
Then there is a paradigm change: it’s not about “killing Western Union”, but about change, and leaving Western Union behind. Just like Netflix left Blockbuster in the dust.
Reminder: “Remittance” services like Western Union and Moneygram reap over $400 million per year in remittance fees in South America alone.
El Salvador is the prime example, with El Salvadoran workers in the United States sending their money back home over Western Union. The fees to do this are exorbitantly high.
Bitcoin CURES this!
The SWISS are jumping in the pool!
Switzerland’s post office will be issuing stamps on the blockchain!
“Swiss Post launches Switzerland’s first crypto stamp.
On 25 November, Swiss Post is launching the Swiss Crypto Stamp – the first stamp of its kind in Switzerland. The crypto stamp consists of two parts. While it is a physical stamp worth 8.90 francs, every crypto stamp also has a related digital image. This digital image shows one of 13 possible designs, is stored in a blockchain and can be collected, exchanged and traded online. With the Swiss Crypto Stamp, Swiss Post is bridging the gap between the physical and digital worlds in philately, too.”
Price action
Get used to this: “Bitcoin to reach 100k by December!”
Remember when John McAfee said he would eat his dick if Bitcoin wasn’t 30k by October 2020?
“I’ll eat my d**k on national TV if bitcoin doesn’t surpass $500k in 3yrs” – John McAfee
Well he missed that bet, but only by 1 year.
Sadly John isn’t with us anymore, but that’s another story for another issue…
POINT IS: We are living in an experiment.
Keynesian economics has failed. However, inflation is not a 1:1 link with money.
When the FED prints 3 trillion USD — we should see rampant inflation immediately, right?
However, that’s not the case.
The inflation creeps.
It creeps so much that it gives the guru economists and other astrologers enough leeway to make up more excuses, misdirections, and downright lies.
That’s the problem with economics — THE LAG.
Have you noticed the price of houses going up?
Wrong. It’s the buying power of our money going DOWN.
But because of the lag, and the fact that not all prices go down simultaneously, the guru economists and foaming at the mouth idiots like AOC can get away with ridiculously stupid statements like:
“It’s the supply chain...” — foaming at the mouth idiot*
Regardless of the foaming at the mouth idiots like AOC, and the fact that actually smart people like Nassim Taleb have proven that economists are no more accurate than astrologers, because of the LAG, we will only know the results of this experiment in a matter of years — maybe even decades.
If you are an Austrian economics dude, you believe that the FED printing money will DEBASE our currency and lead to inflation. In this case historic inflation of biblical proportions, since we have never printed 3 trillion i.e. TRILLION, before.
Therefore you must be BULLISH because then the price of Bitcoin MUST rise — diametrically opposed to the fall of the USD.
Indeed — it is just the mirror of the USD falling.
Robert Breedlove has actually calculated how much — and published the calculated price:
“The expansion of the money supply is governed by a law. It’s called the law of accelerating issuance and depreciation. The more money you print, the more money you ultimately later have to print just to keep the system going...” Robert Breedlove
If you are a Keynesian, you believe that money should be regulated i.e. printed at will by a central entity (the FED in this case) and that inflation can be controlled this way. Money is purely psychological and therefore there is no “real” connection between the price of Bitcoin and the USD.
Therefore you are neither bullish nor bearish because of the United States FED printing 3 trillion USD — “it’s all psychology dude.”
Although I do believe in the psychological component of money, I tend to bet my money on the Austrian point of view in this case.
TIME WILL TELL...
Place your bets wisely!
OH, and if you wanna benchmark someone — check out how the hedge funds are placing their bets:
Institutions buying Bitcoin rather than gold as inflation cranks up: JPMorgan
So there was this farmer who took his sheep fishing…
Best Posts of the Week
Ouch! This one hurts…
Before EVERY trade you should ask yourself, “Self, instead of trading for this Altcoin — what if I put the money in Bitcoin instead?”
I have come to the conclusion that 9 times out of 10, Bitcoin would be the better decision. But I am not a speculator — I am an investor.
Knowledge/BTC 101
Tired of HIPPO decisions?
What is a H.I.P.P.O.?
Read about it in this great article about the main Conscious Biases affecting us when we think about Bitcoin AND money!
And…This is a wonderful example of the resiliency of Bitcoin -AND- the strength of a decentralized network versus a centralized one:
So the Chinese banned Bitcoin again — doesn’t make a damned bit of difference!
That’s it for this week cryptoChampions!
Remember to send this to a friend so they too can get the DEAD SIMPLE Bitcoin tracker!
And keep on thinking free…
Eric
*P.S. I cannot insult these *ssholes enough. It is an absolute insult to every American when some guru idiot comes up with excuses like “…it’s the supply chain” when we all know —because we were there— that it was Bill Clinton who sent our entire production to other countries.
The supply chain was IN America!
Then came Bill’s famous “solution” to our prosperity:
It was called “NAFTA” as in North American Free Trade Agreement.
As in Canada, USA, Mexico.
Question: Is China in North America?
Now we can’t even get medicine, face masks, nor cotton swabs without F-ing China!
Decrepit! Disgusting!
But hey! —it’s the supply chain…