BitcoinFriday
Felipe

Change the world through Bitcoin education
▫ Bitcoin since 2013

felipevivamus@ln.tips

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bitcoinfriday@getalby.com

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Last Notes

2024-09-02 09:14:25

Hey Fam🧡
No ‘Weekly Recap’ this week as I am enjoying a short holiday.
See y’all next week!
Felipe - Bitcoin Friday
#zap 🧡 #weeklyrecap #nostr #plebchain #BTC #Bitcoin #plebchain #grownostr #stacksats #bitcoineducation #adoption
https://m.primal.net/KaJN.jpg

2024-06-30 06:50:46

‘About 99.5% of all the Bitcoin in circulation is held in 16.5 million UTXOs that have a value of 1m sats or more. Most of the other 169 million UTXOs will likely become economically unspendable in the future assuming they aren’t consolidated into larger ones relatively soon.’ - @npub14uh…ez89
People please do some UTXO management and whilst doing that buy some sats.
Bitcoin’s Unspent Transaction Outputs (UTXOs) can be classified into different segments based on their age.
UTXO Management for Dummies:
If everyone pays you in quarters you’ll have to lug around a big heavy bag. It’ll also cost you more time to spend as you have to count quarters when paying. So ask for $20s or $100s as payment, or change your quarters into bills from time to time.
Now I can hear you say...wtf is a UTXO?
A UTXO stands for unspent transaction output. Don’t worry about those unnecessarily complicated words. Just use “UTXO” and understand the concept of what it is…
If you want to learn/study the topic: https://armantheparman.com/utxo/
Credit picture: @npub14uh…ez89
Study, learn, hodl, decouple.
#bitcoin 🧡
▃▃▃▃▃▃▃▃▃▃▃▃▃▃
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @Relai 🇨🇭 🇨🇭 especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.
⠀⠀⠀⠀⠀⠀⠀⠀
Felipe - BitcoinFriday
#zap 🧡 #nostr #BTC #Bitcoin #plebchain #grownostr #stacksats #bitcoineducation #adoption
https://m.primal.net/JCyH.jpg

2024-06-20 22:58:18

Noderunners🧡💜
https://m.primal.net/IsEK.mov

2024-06-12 10:17:18

Due to sickness no Weekly Recap this week.
Study, learn, hodl, decouple.
#bitcoin 🧡
▃▃▃▃▃▃▃▃▃▃▃▃▃▃
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @Relai 🇨🇭 🇨🇭 especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.
⠀⠀⠀⠀⠀⠀⠀⠀
Felipe - BitcoinFriday
#zap 🧡 #nostr #BTC #Bitcoin #plebchain #grownostr #stacksats #bitcoineducation #adoption
https://m.primal.net/Ihqs.jpg

2024-04-15 20:47:44

🧠Quote(s) of the week:
‘When you understand Bitcoin there is no way back. You will look at the system in a whole new way. Your friends and family will think you’re crazy. Choose wisely.’
― Bitcoin for Freedom
"3 rules that are a cheat code for life:
1. Create value for others
2. Spend less than you earn
3. Save in Bitcoin"
― BTC Sessions
🧡Bitcoin news🧡
9th of April:
➡️Japanese firm Metaplanet buys ¥1B ($6.5M) of Bitcoin, mirroring MicroStrategy's strategy. The company's shares jumped 90% following the announcement.
11th of April:
➡️SEC to file lawsuit against defi crypto platform Uniswap - Reuters
This is why Satoshi disappeared and made Bitcoin impervious to government attacks.
12th of April:
➡️IMF demands El Salvador change its Bitcoin law in return for a $1.4 billion loan. (please read the part on the IMF below -> segment Macro/geopolitics.) How I read this statement, the IMF is annoyed at the mere existence of Bitcoin. Basically, they are saying: Sell your 'hard' money and get indebted to us.
➡️"The more energy Bitcoin mining uses, the more emissions it can reduce
35 midsized venting landfills running Bitcoin mining is all it takes for Bitcoin mining to be the
world's first emission-negative industry
Achieved organically, without subsidy, without purchasing offsets." - Daniel Batten
Could it be possible for Bitcoin to save the environment with its Proof-of-Work design and be the main player in the 'green' energy revolution?
13th of April:
➡️Paraguay Senate approves resolution to sell energy surplus to bitcoin miners, criticizes sale of energy to Brazil for 25% of what bitcoin mining generates, directs this energy to 20 new bitcoin mining companies instead. Remember Paraguay is a large hydroelectricity producer and Bitcoin could be the answer.
I am pretty sure that Bitcoin will be the primary engine of prosperity in the 21st century. Countries like El Salvador, and Paraguay but also several countries in Africa will lead the way.
14th of April:
➡️UFC lightweight Renato Moicano: "If you care about your country, read Ludwig Von Mises' 6 lessons of the Austrian Economic School motherf*ckers".
He also demanded his fight bonus in Bitcoin.
He is referring to, it’s a series of six lectures Mises gave in Argentina in 1958, later combined into a book: “Economic Policy: Thoughts for Today and Tomorrow”:
1. Capitalism
2. Socialism
3. Interventionism
4. Inflation
5. Foreign Investment
6. Policies and Ideas
Full read: https://cdn.mises.org/Economic%20Policy%20Thoughts%20for%20Today%20and%20Tomorrow_3.pdf
➡️The number of addresses holding more than 1 Bitcoin peaked in January 2024 at 1,024,484 and has fallen by 13,000 since.
15th of April:
➡️Norway became the first country in Europe to introduce regulations for data centers aimed at controlling which projects are permitted.
Cites emissions, and energy consumption control. They state Bitcoin mining “is an example of a type of business we do not want in Norway”
They are not going to ban mining. They want to force data centers to report to the government what kind of processes they are doing. Still bad though! Why, because it is misguided, ineffective, and futile. If electric cars = zero-emission... electric miners too. Are they going to ban or regulate EV cars too?
Clown policy that will backfire badly for a country already going through a currency crisis and for a failing continent, Europe.
Read the following thread by Daniel Batten.
https://twitter.com/DSBatten/status/1779859225809990116
Ergo: Politicians have no clue or are being paid to not understand things that benefit society/their people.
➡️Germany's biggest Federal bank LBBW to launch Bitcoin custody services to institutional customers.
Bitcoin ETF news:
"Weekly Bitcoin ETF Flows:
IBIT +7,000 BTC
FBTC + 1,300 BTC
GBTC -11,000 BTC
Net Flows - 1,100 BTC
In a week of GBTC Sales, CPI freak outs and War fears, Bitcoin holds 67K and has slight outflows."- Thomas Fahrer
On the 9th of April:
➡️The value of BlackRock’s Bitcoin holdings jumps to $18.9 Billion.
➡️Fidelity now holds 150K Bitcoin worth over $10 Billion.
On the 11th of April:
➡️Asia ETF's
- Hong Kong approving Bitcoin ETFs
- South Korea will approve Bitcoin ETFs
- Chinese fund managers launching Bitcoin ETFs
US Bitcoin ETFs pushed the price from $38K to $73K.
South Korea's pro-Bitcoin Democratic Party has won the national election to form a government. More than 6 million South Koreans — over 10% of the population own Bitcoin or crypto.
DP: "We're going to allow the ETFs, domestic or overseas."
➡️GBTC sees the smallest outflow since the launch of the Bitcoin ETFs with just $17.5 million leaving the fund on the 11th of April.
15th of April:
➡️Hong Kong just approved the first batch of Bitcoin ETFs
➡️"Since launching on Jan 10, U.S. ETFs, even including all GBTC sales, have amassed 222,000 Bitcoin in just 65 trading days—that's 3,415 BTC daily!
Now Hong Kong ETFs join the game, just as the weak hands have folded and miners have half as much to sell." - Thomas Fahrer
💸Traditional Finance / Macro:
👉🏽 'BlackRock is eating the world: Hits record $10.5tn in assets under management in Q1 2024, +15% YoY, boosted by $57bn of total net inflows to its investment products.'
👉🏽Here's a crazy stat that no one will believe.
The universal investment benchmark is the 60/40 portfolio of stocks and bonds.
What if you replaced the bonds entirely with gold....crazy right?
Turns out it makes no real difference.
(picture 2)
Now wait till they do Bitcoin.
👉🏽This time is different:
(picture 3)
🏦Banks:
👉🏽no news
🌎Macro/Geopolitics:
On the 9th of April:
👉🏽"The EU must find ‘enormous amount’ of money to face global challenges, says former ECB chief Mario Draghi."
Money Printer go brrrr to infinity…because 'Whatever it takes' - Draghi
How?
Print
Confiscate
Tax(visible)
Tax (hidden)
Government “Innovation”.
👉🏽Constant QE or default are the only ways out. And financial repression is the default, just in slow motion.
(See picture 4)
'This assumes no recessions or geopolitical events for the next few decades.
Japanese-style financial repression is the only way out of this mess. Or what other viable options are there?'
👉🏽"The federal budget deficit totaled $1.1 trillion in the first half of fiscal year 2024, CBO estimates"
'And yet, just over a month ago, the same CBO released their report projecting a $1.5T deficit for the entire year. At this rate, the deficit will be $2.2T, a 47% overshoot and even higher than the projected deficit in 2031.' - James Lavish
The US spending is out of control and it's getting worse at an exponential rate. Within one month, they (CBO) posted a 47% overshoot on the largest budget in world history.
The whole US budget, but also here in Europe, implodes around 2030 - 2035 at the latest. A new system will rise...the only question you need to ask yourself will it be Bitcoin or CBCD's? (Picture 5)
On the 10th of April:
👉🏽March CPI inflation rate UP to 3.5%
- Above expectations of 3.4%.
- Cor inflation is 3.8%, also higher than expected rate of 3.7%.
3 straight years with inflation over 3%
They said "Inflation is transitory"
'Inflation has not fallen in a single month since Biden's term began (the closest was July 2022 when it was unchanged), which leaves overall prices up over 19% since Bodenomics was unleashed. And prices have never been higher.'- Zerohedge
This means that overall prices are up a whopping 19% in less than 4 years.
We have not had a year-over-year inflation print below 3% in 36 consecutive months.
Furthermore, inflation has been above the Fed's 2% target for 37 straight months.
Inflation is now building on previous years of inflation; we effectively have compounding inflation. Everyone should be asking for a 20% raise.
👉🏽For the less informed.
Price inflation at every fast food restaurant in the US has far exceeded CPI inflation since 2014.
Prices at McDonald's have DOUBLED since 2014 while official inflation data shows just 31% inflation.
Prices at Popeyes, Taco Bell, and Chipotle have risen by 86%, 81%, and 75%, respectively.
Traditionally, fast food was considered to be a "cheap" food option.
The CPI is a lie it’s manipulated to be lower than real inflation.
👉🏽On the same day, the US 10-year Treasuries had their worst day since May 2023, with yields surging after the one-two punch of a hot CPI and a bad auction. Peter Boockvar: "10-year auction was bad...Dealers were left with 24% of the auction, which is the most since Nov. 2022."
👉🏽China has been buying more gold than any other nation since 2020, with India in second place.
Can we call this DeDollarization?
(picture 6)
More on China...
👉🏽"Following Moody's in December, Fitch Ratings revised the China debt outlook to negative from stable.
China's pace of debt accumulation is very problematic. Public debt has more than doubled since the Great Financial Crisis and is heading to above 100% of GDP.
More importantly, total debt has ballooned from 133% in 2008 to 272%(!) in 2022. It will have risen again in 2023.
The current 10-year Chinese bond yield is at 2.29%, which is extremely low for a country that expects to grow by 5% annually. Coincidence? Of course not! China has the same debt sustainability issues as every other major economy, and rating agencies must act." - Jeroen Blokland
On the 11th of April:
👉🏽IMF Prepares Financial Revolution – Say Goodbye To The Dollar
https://www.zerohedge.com/markets/imf-prepares-financial-revolution-say-goodbye-dollar
The only thing I can say on this is:
- I am not surprised
- Please reject CBDCs with everything you have. The centralization of digital currencies will never work!
- The IMF is not elected!
Anyway, no need to panic whatsoever. The IMF probably goes before the dollar. The dollar is and will be the number one (fiat) currency of the world.
On the 12th of April:
👉🏽"Another strange sign that someone knows something:
Gold is up ~20% over the last 5 months and has doubled the S&P 500's return.
Meanwhile, bonds are down nearly 9% as interest rate cuts are priced out.
Historically speaking, gold and bonds have almost always traded together.
There is now a ~30% GAP between the performance of gold and bonds, one of the 5-month divergences largest on record.
Gold is completely ignoring the fact that higher interest rates are here to stay while bonds are getting crushed." - TKL
Central banks /countries are selling their debt portfolios and buying gold. That would be my take. The financialization of everything era is over.
On the 15th of April:
👉🏽'The US credit card delinquency rates are now at their highest on record, according to the Philadelphia Fed.
In Q4 2023, more credit card balances were 30+ and 60+ days past due compared to any other period in history.
The percentage of credit card balances at least 30 days past due is now ~3.5%.
Meanwhile, total credit card debt has skyrocketed in recent months and is now at a record $1.3 trillion.
The average credit card interest rate is also at a record 28%, according to Forbes.' - TKL
🎁If you have made it this far I would like to give you a little gift:
Warmaking has become increasingly unlimited in the fiat age, as financing has moved away from war taxes and war bonds and towards quiet borrowing
This is a very well-documented essay and thread with data and statistic by @npub1trr…hdpu :
https://bitcoinmagazine.com/culture/how-the-fed-hides-costs-of-war
Book tip: Read The Creature from Jekyll Island.
Extra gift!🎁
Your wealth is melting—the first report by Joe Burnett is 37 pages exploring how humanity's relationship with wealth has changed after the discovery of Bitcoin.
https://8198895.fs1.hubspotusercontent-na1.net/hubfs/8198895/PDFs/Your%20wealth%20is%20melting-1.pdf
@npub1z5d…mqhw
Only invest in Bitcoin what you can’t afford to have gradually stolen from you by the government.
Credit: I have used multiple sources!
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @Relai 🇨🇭 especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It's that simple.⠀⠀⠀⠀⠀⠀⠀⠀
Do you think this post is helpful to you? If so, please share it and support my work with sats.
#zap 🧡 #weeklyrecap #nostr
#plebchain
#BTC
#Bitcoin
#zap🧡
#plebchain
#grownostr
#stacksats
#bitcoineducation
#adoption https://image.nostr.build/fe5fb0ceba2af3cb920697d4a88d465334048ad35227fe6f6a95efffafdb555a.jpg https://image.nostr.build/9ca73dbad8bb1e62db47e859de1012ce1a4f2a8d954bf9945aea8584487fa7ef.jpg https://image.nostr.build/ff2892a99426ac5afdced0a2bc31664c3b4894b86a0bf314078b23675aebae74.jpg https://image.nostr.build/b1a2134aa5cb1397482068d67a5ad752fd1e68219ad33717ac8518c79bf6aa54.jpg https://image.nostr.build/ca2f07bd8d39c6f8b6d73b1ab7dbe94b0b1f97d036a4e178e98a4e725c5906ac.jpg https://image.nostr.build/b849d985a251c65674d28b31b9f5f1256c26731fb7632c90b2635ade5a7bc230.jpg

2024-04-14 07:08:49

UFC lightweight Renato Moicano 🎤:
"If you care about your country, read Ludwig Von Mises' 6 lessons of the Austrian Economic School motherf*ckers"
MMA fighters shilling Austrian Econ, classic!👀🔥
Ludwig von Mises - 6 Lessons of Austrian Economics School 🧵
1. Subjective Value Theory: Economic value is subjective and varies from person to person. This theory underlines the idea that individuals assign value to goods and services based on their own preferences and needs.
2. Methodological Individualism: Methodological approach that focuses on individual human action as the fundamental unit of analysis in economics. This perspective highlights the importance of understanding the actions and decisions of individuals in shaping economic outcomes.
3. The Calculation Problem: In a centrally planned economy, without the use of market prices for the means of production, rational economic calculation becomes impossible, leading to inefficiency and resource misallocation.
4. Spontaneous Order: Suggests that complex social phenomena, including economic systems, emerge organically from the interactions of individuals pursuing their own interests. This idea contrasts with central planning and highlights the benefits of decentralized decision-making.
5. Time Preference Theory: It explains how individuals value present consumption over future consumption. This theory helps to understand saving, investment, and interest rates in the economy.
6. The Business Cycle Theory: Business cycles are primarily caused by fluctuations in the money supply, particularly through credit expansion by central banks. He emphasized the importance of maintaining a stable monetary system to avoid economic instability.
Read Mises, study Bitcoin!🧡
Study, learn, hodl, decouple.
#bitcoin 🧡
▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @Relai 🇨🇭 🇨🇭 especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.
⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It’s that simple.🎯
⠀⠀⠀⠀⠀⠀⠀⠀
Do you think this post is helpful to you? If so, please share it and support my work with sats. 🧡
Felipe - BitcoinFriday
#zap 🧡 #nostr #BTC #Bitcoin #plebchain #grownostr #stacksats #bitcoineducation #adoption

2024-03-20 11:19:56

Great way to start
the day.🧡
Study, learn, hodl, decouple.
#bitcoin 🧡
▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @Relai 🇨🇭 🇨🇭 especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.
⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It’s that simple.🎯
⠀⠀⠀⠀⠀⠀⠀⠀
Do you think this post is helpful to you? If so, please share it and support my work with sats. 🧡
Felipe - BitcoinFriday
#zap 🧡 #nostr #BTC #Bitcoin #plebchain #grownostr #stacksats #bitcoineducation #adoption https://image.nostr.build/78ff416029ca11edde4e2ec0486ac861e351db4320b76d13bf99f358ebd8c6ba.jpg

2024-03-18 21:22:19

🧠Quote(s) of the week:
“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's greatest civilizations has been 200 years. These nations have progressed through this sequence: From bondage to spiritual faith; From spiritual faith to great courage; From courage to liberty; From liberty to abundance; From abundance to selfishness; From selfishness to apathy; From apathy to dependence; From dependence back into bondage.”
― Alexander Fraser Tytler
🧡Bitcoin news🧡
➡️On the 16th of March, we received the news that $88m leveraged Bitcoin positions were liquidated in 24 hours.
Losing money in a bull market…REKT.
➡️"The first Bisq 2 beta release is now available. Interested?
Watch http://bisq.network/bisq-2 and:
1. run Bisq 2;
2. trade with Bisq Easy (or lurk while others do);
3. give feedback in the new p2p group chat." - Bisq
I always recommend Bisq as one of the primary peer-to-peer market on-ramps to Bitcoin (for the more advanced users). So I am very excited to see the roadmap and look forward to the development and use of version 2. (picture 4)
➡️"If Bitcoin was a country, it would rank somewhere between 10-20 in population size.
Something tells me we're going to enter the top 10 very soon." - Sam Wouters (picture 2)
Source: https://river.com/learn/how-many-people-use-bitcoin/
➡️The US government is still holding seized Bitcoin equivalent to ~1% of the total supply with a 2.4X unrealized profit. They haven’t sold any since July 2023 when Bitcoin was $30K.
➡️The Bitcoin network is projected to settle $17.5 trillion worth of BTC this year.
➡️Bitcoin Network Difficulty sets a new ALL-TIME HIGH of 83.95 T
This is nearly double the reading from one year ago (43.55 T) The global competition to mine
Bitcoin continues to heat up.
➡️New Record Bitcoin Hashrate 600,000,000,000,000,000,000x per second
➡️Wealth advisor platform Cetera just approved Bitcoin ETFs to be offered to clients.
It has $475 billion in assets under administration and $190 billion in assets under management.
➡️ $7.2 trillion Vanguard CEO Tim Buckley says they're not going to offer spot Bitcoin ETFs "unless the asset class changes."
"Bitcoin is just too volatile and it's not a store of value."
➡️“Mr. 100” bought 810 of the 900 newly mined Bitcoin on the 14th of March, so the ETFs had to find other willing sellers.
➡️On the 13th of March, we had the first $1B inflow day into the Bitcoin Bitcoin ETFs. Madness! And BlackRock's Bitcoin ETF total inflows overtook Grayscale's total outflows for the first time! You are simply not bullish enough.
Really... you are not bullish enough: https://www.zerohedge.com/crypto/bitcoin-has-6-months-until-etf-liquidity-crisis
➡️Last week I mentioned that VanECK announced they cut their management fee to ZERO until March 2025. Their Bitcoin ETF doing HUGE trading volume a day after.
https://twitter.com/BTC_Archive/status/1767596983026364663
➡️"Blackrock Bitcoin Inflows
34.6K Last Week
31.4K The Week Before
34.3K The Week Before That
Any wild guesses about how much they buy this week?"
➡️ El Salvador will be able to pay off the IMF if Bitcoin hits $100K, and never have to talk to them again.
They’ll probably be the most attractive country in the world to go live in just because they embraced
Bitcoin,” says billionaire Tim Draper.
More news on El Salvador: El Salvador voted to drop their income tax from 30% to 0% for money transfers and international investments.
Oh, by the way, El Salvador’s President, Nayib Bukele :
“Your TAX money is NOT funding your government.
Your government is funded by printing money out of thin air.
So, if your central bank is printing money to fund the government, then WHY do we need to pay taxes?"
Now to make things extra special...
On the 15th of March, Nayib Bukele announced that they decided to transfer a big chunk of our Bitcoin to a cold wallet and store that cold wallet in a physical vault within our national territory.
You can call it our first Bitcoin piggy bank. It's not much, but it's honest work.
https://twitter.com/nayibbukele/status/1768425845163503738
Pretty incredible to see a President tweeting about Bitcoin nation-state self-custody. And what do plebs do? El Salvador released its Bitcoin cold wallet address & you psychopaths are sending donations. Classic.
Just a thought...If El Salvador can be transparent with their reserves why can’t the United States government or the ECB/Central Banks?
Why can’t we see the gold?
➡️El Salvador President Nayib Bukele says the country will purchase one Bitcoin every day until it becomes unaffordable with fiat currencies.
➡️ On the 12th of March @npub1sqz…vk7v rolled out their lightning functionality within the app.
100,000 Relai users now have access to ultra-fast and cheap Bitcoin transactions.
Why Lightning? "The Lightning Network has quickly emerged as the go-to scaling solution for the Bitcoin network. Not only is it great to use Bitcoin in everyday situations, such as paying for a cup of coffee or goods in a shop, but it’s also incredibly fast and much cheaper compared to on-chain transactions."
Relai: "We do this by working closely with two amazing Bitcoin companies! One is our node and implementation provider, Blockstream. We use their Core Lightning implementation, which allows us to be flexible with other Lightning setups as well as using their node. Our second partner is Breez, with their SDK. This provides us access to a wide range of Lightning Service Providers (LSPs) and partners in the network."
Just update your app. To use Lightning, you need to update to the latest version 2.8.1.
Not using Relai at the moment? Download the app https://relai.app/, use the code CRYPTOFRIDAY, and get a 0.5% fee reduction on your weekly/monthly Bitcoin purchases.
➡️Michael Saylor says Bitcoin is going to "eat" gold and has all the great attributes of gold.
All the reasons why Bitcoin will demonetize Gold:
"-Gold was the money of the analog world, and Bitcoin is the money of the Digital World, it is superior in every way for a digital age.
-Precious metal markets have been highly manipulated for a long time.
-Elastic Supply unlike Bitcoin's inelastic supply
-Alleged rehypothecation of precious metal paper contracts (The paper price of Gold) artificially increasing supply.
-Price action has been slow and tedious, with low gains for the last 10 years.
-Much Harder to store and secure
-Much Harder to Transport
-Can be counterfeited in some circumstances
-Unprogrammable
-Centralised"
➡️Bitcoin’s allocation in investor portfolios is 3.7 times greater than that of gold, according to JP Morgan analysts.
➡️On the 11th of March, "Bitcoin just bumped silver to become the 8th most valuable asset in the world.
All else held equal...
at $105K, it jumps Saudi Aramco,
at $137K, it enters the top 3,
and at $153K, Bitcoin becomes the second most valuable asset in the world." - James Lavish
➡️The new Biden budget proposal plans to bring in more than $2.3 billion in the next five years by taxing bitcoin miners.
Biden expects the Bitcoin mining industry to 10x in the United States over the next decade, this would imply a $6 million price target for Bitcoin. Even more bullish than the wash trading line item.
American dynamism and energy abundance will make this possible!
The 30% tax is just absurd. This must be stopped at all costs.
First read the following tweet: https://twitter.com/BitcoinPierre/status/1767371855512432900
Talking about Biden, check out their budget for fiscal year 2025 below, segment macro.
➡️In ~32 days, Bitcoin becomes the hardest asset known to man, with its supply growth rate dropping to half that of gold. This will be Bitcoin's biggest and most important Halving ever. Are you ready?
➡️Merryn Webb, a Senior Columnist at Bloomberg, REFUSES to interview Adam Back, one of the few people ACTUALLY cited in the Bitcoin whitepaper, simply because he has LASER EYES in his X (formerly Twitter) profile picture.
Mainstream media at his finest! (picture 5)
➡️Just a reminder that the FTX bankruptcy estate has 58 million Solana tokens to sell, which is over 13% of the total Solana supply, or about 8.5 billion dollars in today's prices.
➡️The owner of the largest exhibition venue in the Middle East, Abu Dhabi’s ADNEC Group, is to launch the region's first Bitcoin MENA Conference set to take place December 9-10 2024.
💸Traditional Finance / Macro:
What can you expect this week in the traditional financial market?
Main highlight ahead:
In the US, we have the Federal Reserve meeting and press conference with Fed Chair Powell. In the UK, we have the Bank of England meeting and CPI data, and in Europe, the latest ZEW surveys and several ECB speakers. In Asia we start the week with a key policy meeting at the Bank of Japan, more central bank meetings in Indonesia, Taiwan, and Australia, and monthly activity data for China.
🏦Banks:
👉🏽Powell: ‘There will be bank failures’ caused by commercial real estate losses
But not the really big banks, he promises, those will be fine.'
https://thehill.com/business/4516758-powell-there-will-be-bank-failures-caused-by-commercial-real-estate-losses/
🌎Macro/Geopolitics:
👉🏽"BIDEN UNVEILS $7.3 TRILLION BUDGET FOR FISCAL YEAR 2025, THE BIDEN BUDGET SEES US DEBT HITTING $45 TRILLION IN A DECADE" was the headline.
Just absurd, that the Biden administration thinks that the US DEBT will hit $45 trillion in a decade.
None of their models now or in the past, and recent years came through. We're at nearly $35 trillion now with a new trillion added every 100 days.
You know what is even more absurd and I quote Brian Sullivan: "DC strategist email note this morning lays it out well.
The budget deficit will grow another $16 TRILLION over the next 10 years. That *with* the proposed massive tax hikes.
Without them, the deficit will grow by $19 trillion.
That's why you will hear the "deficit is being reduced by $3 trillion" over the decade.
No family budget or business could exist with this kind of math."
Balaji: "Linear extrapolation gives $50 trillion.
Exponential is more like $70 trillion.
And Bitcoin remains at 21 million."
(picture 3)
Source: https://fred.stlouisfed.org/series/GFDEBTN
Oh, just to make things worse, it took 63% of all personal income taxes in Feb to pay the interest on the debt - no roads, no military, no schools, no social security - JUST INTEREST.
👉🏽On the 12th of March US CPI came in.
The 'hot' CPI prints show that headline inflation is sticky around the 3% level.
"On a 3-month annualized basis, Supercore inflation jumped a whopping 6.9% in February.
Core services less shelter inflation is a key metric that the Fed follows, also known as Supercore inflation.
In January, this metric jumped by 0.7% month-over-month, the biggest jump since September 2022.
In February, it was up another 0.5% month-over-month after multiple increases in 2023.
All while real wage growth is turning negative again.
In general February CPI inflation rate RISES to 3.2%, above expectations of 3.1%.
Core CPI inflation fell to 3.8%, ABOVE expectations of 3.7%.
This is the 35th consecutive month with inflation above 3% and the second straight increase.
The fight against inflation is far from over." -TKL
👉🏽"Prediction markets are officially expecting LESS than 3 interest rate cuts in 2024.
After CPI inflation increased for the 2nd straight month, prediction markets saw 65 bps of rate cuts in 2024, according to Kahlsi.
This is equivalent to ~2.6 rate cuts and down SHARPLY from 6 rate cuts seen just 2 months ago.
It's also the first time this year that markets see LESS rate cuts than Fed guidance.
Core inflation is still at 3.8%, nearly DOUBLE the Fed's long-term target.
Could we see ZERO rate cuts in 2024?" -TKL
Still up only, especially in a year when we have a presidential election in the US.
Do you want to know more about the rates bit, please read the following tweet by Luke Gromen:
https://twitter.com/LukeGromen/status/1767556897626898876
👉🏽"For the first time in history, interest payments on non-mortgage debt in the US are equivalent to interest on mortgage debt, at $575 billion.
Exactly 3 years ago, interest on non-mortgage debt was at $250 billion.
This marks a 130% increase in household interest expense on non-mortgage items over just 3 years.
Furthermore, 3 years ago interest on non-mortgage debt was HALF of interest on mortgage debt.
Americans are "fighting" inflation with high interest-rate debt.
36% of US adults have more credit card debt than money in a savings account.
Also, the average American household owes $7,951 in credit card debt.
As rates rise, the pain of this debt is getting even worse.
How is this sustainable?" - TKL
👉🏽"ECB plans to roll out digital Euro CBDC starting in 2025. They claim it’ll be “private,” but it will not be, given Lagarde already wants to throw you in jail for a 1000+ euro anonymous cash payment.
Study Bitcoin & opt out of this totalitarian surveillance token." -WalkerAmerica
https://www.ecb.europa.eu/press/key/date/2024/html/ecb.sp240313~f632c531ac.en.pdf?c399660b02271b5ec70ef86e839a8c64
👉🏽"KPMG study among the 350 CFOs of the largest German subsidiaries of international groups shows that there is record-high skepticism with respect to Germany as an investment destination
Foreign investors are pessimistic and the attractiveness of the country is at risk: 46% of respondents believe that other countries and regions are growing faster than Germany and intend to prioritize investments there in the next five years
Energy transition, digitalization, upgrades, and infrastructure have opened up great business opportunities for international companies, but
all location factors are deteriorating with increasing momentum." - Nikolay Kolarov
In the past year, I have spoken on the deindustrialization of Germany multiple times. Everyone is aware of German deindustrialization by now, unfortunately, industrial production in other major European countries is not looking much better.
(picture 6)
(picture 7)
👉🏽Goldman points out that the Turkish central bank is about to lose control as "FX position deteriorates sharply". Is the Turkish lira on the verge of terminal collapse?
🎁If you have made it this far I would like to give you a little gift:
Another great What Bitcoin Did podcast.
The Perfect Bitcoin Allocation with Raphael Zagury
- Bitcoin vs real estate
- How ETFs changed everything
- Valuing Bitcoin
- The best portfolio allocation
https://www.youtube.com/watch?v=hqsGIRhFkvM
Anyway, that's it for today.
Only invest in Bitcoin what you can’t afford to have gradually stolen from you by the government.
Credit: I have used multiple sources!
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @Relai 🇨🇭 especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.
⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It's that simple.
⠀⠀⠀⠀⠀⠀⠀⠀
Do you think this post is helpful to you? If so, please share it and support my work with sats. #zap 🧡 #weeklyrecap #nostr #plebchain #BTC #Bitcoin #zap🧡 #plebchain #grownostr #stacksats #bitcoineducation #adoption
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https://void.cat/d/4rjQxNa2eCCpJ4yXNpVPgf.webp

2024-02-12 22:07:05

🧠Quote(s) of the week:
"How it will play out:
1. Bitcoin Halving in 67 days; Bitcoin halving sparks anticipation and price speculation.
2. BTC surpasses the market cap of gold; Bitcoin's market cap surpasses gold, signaling a significant milestone.
3. Game theory between countries starts; Strategic game theory dynamics emerge among nations regarding Bitcoin.
4. Every Central Bank starts to print; Central banks resort to increased money printing, potentially fueling inflation fears.
5. BTC gets seized on exchanges and ETFs; Regulatory scrutiny intensifies, leading to the seizure of Bitcoin on exchanges and ETFs.
6. Self-custody becomes illegal; Authorities impose restrictions on the self-custody of cryptocurrencies.
7. CBDC gets introduced; Central Bank Digital Currencies (CBDCs) are introduced, challenging Bitcoin's decentralized nature.
8. Plebs move to countries that allow BTC; Individuals seek residency in countries with favorable Bitcoin regulations.
9. Woke people lose trust in the CBDCs; Growing disillusionment with CBDCs among informed individuals.
10. BTC becomes global money; Bitcoin gains broader acceptance as a global medium of exchange and store of value."
🧡Bitcoin news🧡
Before I kick off with today's Weekly Recap I start with a great quote by Dr. Jeff Ross:
"I’m not sure who needs to hear this today, but the Bitcoin bull market hasn’t even started yet.
Instead of fixating on price, I suggest the following:
- Head down
- Work hard
- Stack sats (while they’re still super cheap)"
➡️Bitcoin Market Cap is now the 10th largest asset in the world by market capitalization, surpassing giants such as JPMorgan, Berkshire Hathaway, Tesla, and Visa.
➡️Wall Street ETFs are buying 12.5x more Bitcoin per day than the network can produce, increasing the demand and price. Hello, supply shock!
➡️Bitcoin ETF inflows are accelerating and so is the price of Bitcoin. Today ETF inflows broke $500m in one day. Meanwhile, retail is completely sidelined. Wait before the FOMO really kicks in. (picture 4)
➡️BlackRock now holds $4.1 billion worth of Bitcoin.
The 9 new Bitcoin ETFs now hold more than $10 BILLION in assets.
Ergo: Wall Street loves Bitcoin.
"Proof: There’s been over 5500 ETF launches in history.
NEVER before has an ETF reached $3 Billion AUM in less than 30 days… until now.
Both Blackrock and Fidelity’s Bitcoin spot ETFs have just done it."
➡️"Bitcoin has had a great run of +20% in 18 days. What happens next? This type of rally has happened 440+ times in the past 9 years.
-> continued up 88% of the time
-> typical gain +20% => $60k
-> only 6-12% downside historically.
So a non-trivial possibility of a new ATH in perhaps 30 days?" -Timothy Peterson
➡️92.75% of the Bitcoin circulating supply is now in profit.
Values above 95% have historically indicated local tops, and the last time this threshold was reached was during November 2021's all-time high of $69K.
➡️"This is what Bitcoin looks like for the citizens of Turkey, Egypt, Nigeria, Argentina, Lebanon, and Pakistan.
A combined population of 725 MILLION people.
Nigeria and Argentina prices more than doubled since I posted this 2 months ago."
https://twitter.com/TheRealTahinis/status/1756709193904439560
➡️Less than 10,000 blocks remain until the Bitcoin halving. The halving is scheduled for April 2023.
"There is an absolutely relentless pursuit for blocks with a block subsidy of 6.25 BTC.
In a couple of months, miners will be forced to only reward themselves with a subsidy of 3.125 BTC.
Bitcoin is in high demand, and it's about to get even more scarce." - Joe Burnett
➡️79.26% of Bitcoin haven't changed hands in the last 6 months.
➡️Americans could have saved at least $74 billion in 2022 by using cryptocurrency payment systems instead of credit cards, according to Coinbase’s “State of Crypto” report.
➡️On the 10th of February, Ark became the third Bitcoin ETF to pass $1 billion in Bitcoin holdings.
➡️ World's largest asset manager BlackRock says Bitcoin is creating a "global internet of value."
➡️Bitcoin hashrate at a new all-time high! (picture 3
➡️The world’s largest Bitcoin mine begins construction in Texas.
Riot's Corsicana Facility will harness an impressive one gigawatt of electricity. The project will cost an estimated $333,000,000.
More miner news:
➡️America’s first nuclear-powered Bitcoin computer mine is online at the 2.5 gigawatt Susquehanna power plant in Pennsylvania.
Located at the 2.5 GW nuclear energy facility in the PJM interconnection is Nautilus Cryptomine, a Bitcoin mining facility jointly owned by
TeraWulf and Talen Energy.
- 16,000
Bitcoin machines
- 1,900,000,000,000,000,000x hashes per second at total capacity.
More miner news, now from Africa:
https://twitter.com/GridlessCompute/status/1756164755398578542
Nice drone shots of a hydropower station in Kenya by Gridless.
More miner news:
"Bitcoin mining now has lower emission intensity than any other industry.
It is literally the "Roger Bannister" of emission reduction, showing other industries that what was once thought impossible is possible.
full story and source data": - Daniel Batten
https://www.batcoinz.com/p/issue-001-the-narrative-is-shifting
➡️ Bitcoin whales are on the move as 1K-10K BTC wallets hit the highest since Nov '22 (1,958), while 100-1K BTC wallets see a new low (13,735). Bitcoin
whales have acquired 140K BTC ($6.16B) in the last three weeks.
➡️On the 6th of February: BlackRock's Bitcoin ETF is now among the Top 5 ETFs in year-to-date flows, indicating that it has attracted more cash than 99.98% of ETF
➡️ Michael Saylor’s MicroStrategy just bought another 850 Bitcoin worth $37.2m and now holds 190.000BTC.
The company is now at a $3,500,000,000 unrealized profit.
➡️El Salvador's Bitcoin portfolio is in the green with ~$21 million in gains.
💸Traditional Finance / Macro:
What can you expect this week in the traditional financial market?
Main highlight ahead:
In the US, we have CPI, retail sales, industrial production, and PPI. In Europe, it’s the UK CPI, GDP, labor market data, and the German ZEW. In Asia, we have the Australian labor market report, India CPI, and Japanese GDP
👉🏽"The combined revenue of the 4 largest US companies hit a record $1.5 trillion over last 12 months...
Amazon: $575 billion
Apple: $386 billion
Google: $307 billion
Microsoft: $228 billion
That's larger than the GDP of all but 14 countries." - TKL
👉🏽"Nvidia, NVDA, is now the 4th most valuable public company in the world, worth $1.84 trillion.
Today, Nvidia's market cap passed both Google and Amazon for the first time in history.
Since January 1st, Nvidia has officially added $650 BILLION in market cap.
That's more than the entire value of Tesla in less than 6 weeks." - TKL
🏦Banks:
Last week I mentioned that the FED announced that the Bank Term Funding Program (BTFP) will cease making new loans as scheduled on March 11.
Last week we witnessed how New York Community Bank stock, NYCB, the bank that acquired the collapsed Signature Bank, fell 40% after earnings.
"On the 6th of February New York Community Bank stock NYSB, the bank that acquired the collapsed Signature Bank, crashed another 25%.
The stock is now down a massive 61% in 2024 to its lowest level since June 2000.
Currently, roughly 40% of NYCB's assets are not under FDIC insurance.
The stock's decline accelerated after the bank posted an unexpected $260 million loss in Q4 2023." - TKL
Please read the bit on commercial real estate in last week's Weekly Recap and... check out the picture. (picture 1)
US Regional Bank Stocks 1 Month Into 2024:
1. NY Community Bank, NYCB: -60%
2. Valley National Bank, VLY: -25%
3. Metropolitan Bank, MCB: -15%
4. HarborOne, HONE: -14%
5. Comerica Bank, CMA: -13%
6. Zions Bank, ZION: -12%
7. Western Alliance, WAL: -11%
8. Citizens Financial, CFG: -6%
9. KeyCorp, KEY: -5%
Regional bank worries resurfaced as New York Community Bank which acquired the collapsed Signature Bank, cut their dividend by 70%.
These are the same banks that hold nearly 70% of commercial real estate loans.
Just 10 months ago, the regional bank crisis "ended." - TKL
🌎Macro/Geopolitics:
👉🏽Another reason there's so much pressure for rate cuts:
Debt servicing costs on US debt have skyrocketed since the pandemic.
Servicing costs have gone from ~1.5% of GDP to nearly 3.0% of GDP since 2020.
According to US projections, debt servicing costs are set to rise by 3.5%.
For years, low-interest rates meant deficit spending was fairly "cheap."
Now, we are paying for years of historically low-interest rates.
The era of "free" money is over." - TKL
Total debt +$31BN today to a record high of $34.229 Trillion.
+$229 Billion since Jan 1
+$2.8 trillion in the past year.
$35 trillion by June.
BTC is worth less than 3% of the US national debt. Humanity holds ~37x more wealth in debt from a bankrupt government than in the world’s best money. we are so early!
"It took 17 years for the US to add $3.4 trillion of credit card debt, but less than 4 years for it to add another $340 billion.
Price increases are outpacing wage gains, and people are resorting to piling on credit card debt to pick up the difference."
(picture 2)
“The U.S. federal government is on an unsustainable fiscal path. And that just means that the debt is growing faster than the economy… We're borrowing from future generations,” says Fed chief Jerome Powell.
👉🏽Combine the above with the following statement:
The US Office of Management and Budget has said they see a deficit at 5%+ of GDP through 2033.
This means that a budget deficit of $1.4 trillion is expected in 2024.
By 2033, projections show that deficit spending will equal 6.9% of GDP.
There have only been 5 times in US history where deficit spending hit 6.5%+.
In 2033, this would imply an annual budget deficit of $2.7 trillion.
I don't want to be doom & gloom, but can anyone tell me how this can end well?
The debt is growing at ~10% per tear, plus a debasing currency, plus global competition intensifying.
👉🏽"While the rest of the world battles inflation, China is battling DEFLATION.
China's CPI just fell by 0.8% with prices suffering their biggest drop since the global recession in 2009.
This also marked the 4th consecutive monthly decline in China's CPI.
Weak consumer demand has been weighing on prices with prices of many food items falling by double-digit percentages.
The price of pork plunged by 17% and vegetable prices slid nearly 12%.
The economic slowdown continues." TKL
👉🏽Everyone could have seen this a mile away. Many choose not to look:
https://twitter.com/LukeGromen/status/1756343413253812722
More news on the sick man of Europe, Germany.
Its days as an industrial superpower are coming to an end. As pol paralysis grips Berlin, the energy crisis was the final blow for a growing number of manufacturers. German comps pay some of the highest electricity prices in the EU. https://www.bloomberg.com/news/features/2024-02-10/why-germany-s-days-as-an-industrial-superpower-are-coming-to-an-end
The risk of recession has increased significantly. Economists polled by BBG see the probability of a recession happening over the next 12 months at 75%.
"While US growth continues to positively surprise, the Eurozone goes in the opposite direction. But hey, let’s add some more regulations in Europe and decrease working time to four days per week." - Michael Arouet
(picture 5)
This chart ends in 2000, but I believe what it illustrates remains true today.
https://ourworldindata.org/working-hours
👉🏽https://twitter.com/LukeGromen/status/1757076757977387164
🎁If you have made it this far I would like to give you a little gift:
https://www.youtube.com/watch?v=DnBuIla9nGU&t=3s
Free knowledge!
Credit: I have used multiple sources!
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @Relai 🇨🇭 especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.
⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It's that simple.
⠀⠀⠀⠀⠀⠀⠀⠀
Do you think this post is helpful to you? If so, please share it and support my work with sats. #zap 🧡 #weeklyrecap #nostr #plebchain #BTC #Bitcoin #zap🧡 #plebchain #grownostr #stacksats #bitcoineducation #adoption
https://void.cat/d/XrWehT4qzhVakdCkrripE.webp
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https://void.cat/d/XjGmqkhXSrPeMaR8y996e6.webp

2024-02-06 06:30:10

🧠Quote(s) of the week:
"FED Chair, Jerome Powell on the US national debt:
• We’re on an unsustainable path
• Debt is growing faster than the economy
• We’re borrowing from future generations
Projected debt in 30 years: $144 Trillion"
We need Bitcoin now more than ever!
🧡Bitcoin news🧡
➡️ Satoshi Act Fund aids in introducing pro-Bitcoin legislation in Tennessee, marking the fifth state this year so far. The bill safeguards the rights to custody, mine, and run a node.
The Governor of Texas announced, “We want to be the home of innovation and Bitcoin is the cutting edge of innovation”.
➡️ Ark Invest’s “Big Ideas 2024 research report visualizes the long-term returns of buying and holding Bitcoin.
“Historically, investors who bought and held bitcoin for at least 5 years have profited, no matter when they made their purchases.” Next to that according to ArkInvest’s “Big Ideas 2024” report, the price of 1 Bitcoin is projected to reach $2.3 million if 19.4% of the $250 trillion global investable asset base is allocated to Bitcoin.
➡️All-Time High for Bitcoin Network Difficulty & New Record Bitcoin Hashrate! 550,000,000,000,000,000,000x per second
➡️A report by the US Energy Information Administration (EIA) reveals Bitcoin mining uses 0.6-2.3% of US electricity, and 0.2-0.9% globally.
2% to secure the world's next reserve currency. Less than 1% for powering the world with the only truly free, sound version of money while wasting over 1% on appliances like TVs on standby... I'd call that good numbers (picture 1)
➡️BlackRock's Bitcoin ETF IBIT now has +$3.1 BILLION Bitcoin in just 3 weeks since launch. They currently hold >72,466 BTC.
➡️Over the last decade, Bitcoin has ridden on the back of global liquidity as the world's M2 money supply increased from $56 trillion in 2014 to $92 trillion today. And the printing will only continue, more on that in the segment below (macro-economics)
(picture 3)
➡️Cathie Wood's ARK says optimal Bitcoin allocation for portfolios is 19.4%.
Up 3x from 6.2% in 2022.
➡️The Biden Administration has issued an "emergency" data collection initiative to identify the electricity usage of the Bitcoin mining industry in America
Miners who do not comply are threatened with fines of up to $10,633 for EACH DAY they do not respond
This is the type of stuff you would expect in countries like Iran, North Korea, and China. Countries that would not allow any progress outside what the state deems within its plans for the people. I am sure the EU will follow suit. Unfortunately.
➡️UK police have seized £1.4 BILLIONBitcoin during an attempt to launder proceeds of a £5b investment fraud carried out in China.
➡️Milei strategically removes Bitcoin taxes from the "Ley Ómnibus" reform, aiming for swift approval.
The bill initially demanded the declaration of undeclared assets, including cryptocurrencies.
In his first 50 days as president, this man has:
👉🏽Fired 50,000 government employees
👉🏽Deregulated legal tender laws
👉🏽Abolished taxes on Bitcoin
But sure, Javier Milei is "controlled opposition."
➡️Someone just moved 35,049 Bitcoin worth $1.5 billion for a transaction fee of $3.21.
➡️According to Tether's latest Q4 attestation, the company holds $2.8 billion worth of Bitcoin on its balance sheet.
➡️REKT! Great post and great chart for everyone who is considering enjoying the pump & dumps in the world of altcoins. Please reconsider.
The point of this post is that these coins weren't considered shitcoins by most people, they were contenders to be the next big thing. Almost all shitcoins will trend toward zero, especially as priced in Bitcoin.
https://twitter.com/duczko/status/1752574281610051800
➡️Entities holding at least 1K Bitcoin are up 4.50% over the past two weeks.
➡️Putting it in perspective.
The 9 New ETFs hold more Bitcoin than Tether, Tesla, Block and all the of the Public Miners combined.
Soon they eclipse MSTR. Later GBTC. Regarding GBTC, the dumping of GBTC by FTX is over and bitcoin ETFs see a big whoosh of net inflows.
➡️Education will be the key to resisting CBDCs. Great thread by Daniel Batten:
https://twitter.com/DSBatten/status/1752262434264604844
➡️BlackRock's Bitcoin ETF becomes first to break $2b in assets and now holds more than 52,000.
➡️https://twitter.com/TuurDemeester/status/1752075827804516392
Please also read Samson Mow's explanation Tuur is referring to.
Another great explanation by Samson...
➡️UTXO Management for Dummies: If everyone pays you in quarters you’ll have to lug around a big heavy bag. It’ll also cost you more time to spend as you have to count quarters when paying. So ask for $20s or $100s as payment, or change your quarters into bills from time to time.
Now I hear you say...wtf is a UTXO?
A UTXO stands for unspent transaction output. Don’t worry about those unnecessarily complicated words. Just use “UTXO” and understand the concept of what it is…
If you want to learn/study the topic: https://armantheparman.com/utxo/
➡️ "CBDC Is a calamity for human and civil rights. Bitcoin gives you better protection than cash. It also gives you protection from inflation and all of the other hazards that come along with FIAT currencies," says US Presidential Candidate Robert F. Kennedy Jr.
➡️"One of China's largest fund managers, Harvest, to launch a spot Bitcoin ETF in Hong Kong after the Securities Commission said it is ready to accept applications.
China coming to the party!" - Bitcoin Archive
💸Traditional Finance / Macro:
What can you expect this week in the traditional financial market?
Main highlight ahead:
In the US, we have the service sector ISM report and the Fed’s latest Senior Loan Officer survey. In Europe, the focus will be on German industrial production, the February Sentix survey of investor sentiment, and the latest ECB bulletin. In Asia, we have China CPI and Japan earnings data, along with central bank meetings in India and Australia.
👉🏽Meta just gained $200 billion in market cap.
It's the biggest one-day gain in stock market history. CEO Mark Zuckerberg stands to receive a payout of ~$700 Million a year from Meta's first-ever dividend which was announced today - Bloomberg
🏦Banks:
Last week I mentioned that the FED announced that the Bank Term Funding Program (BTFP) will cease making new loans as scheduled on March 11.
"This week we witnessed how New York Community Bank stock, NYCB, the bank that acquired the collapsed Signature Bank, fell 40% after earnings.
The bank announced they will cut their dividend by 70% to meet regulatory requirements.
They also reported a 4th quarter LOSS of $260 million while expectations were for a GAIN of that size.
This comes just a few weeks before the Fed's emergency loan program is set to expire. Many of these small banks hold tons of exposure to commercial real estate loans.
70% of all CRE loans in the US are held by small banks.
If CRE project defaults continue, we could see more pressure on banks." - TKL
Are (small) banks still feeling the pain? I guess so...why? What is predominantly in their (NYCB) loan portfolio? It's the same thing that's in basically every bank portfolio - a large % of CRE & USTs? And it is not only in the US.
Shares of Japanese bank Aozora are collapsing. The stock's on the steepest 2-day drop since it became a public company.
Why? The Bank reported massive exposure to US commercial real estate.
(picture 4)
Regarding CRE. "Another sign the Commercial Real Estate (CRE) crisis is worse than we thought?
The Xerox building in Washington DC just sold for $25 million.
It was last purchased for $145 million just over a decade ago, in 2011.
This reflects an 83% LOSS on the 19-story office building.
The buyer of the property plans to convert it to an apartment building."
"44% of office loans carry outstanding loan balances higher than the property value and are at risk of default according to the NBER."
🌎Macro/Geopolitics:
👉🏽"SUMMARY OF FED DECISION (1/31/24):
1. Fed leaves rates unchanged for 4th straight meeting
2. The Fed does not expect rate cuts until "greater confidence" inflation is moving to 2%
3. "Highly attentive" to inflation risks with economic uncertainty
4. Job gains have moderated but remain strong
5. Upcoming policy will be based on incoming data
6. Fed sees evolving outlook while balancing risks.
This seems to be a different tone than their December meeting.
Particularly, the new statement about not expecting rate cuts until "greater confidence" about inflation."- TKL
It seems like they are backtracking. The FED is really caught between a rock and a hard place of its own making.
1. election year pressure to cut rates.
2. Govt cost of debt increasing, pressuring rate cuts. (the banks and national budget, and other parts of the indebted economy)
3. The FED knows inflation still has the potential to tick up.
👉🏽The U.S. added a blowout of 353,000 jobs in January, far above the 185,000 expected.
November and December growth were also revised up substantially. BUT... it seems like all "jobs" added in the past year have been part-time workers.
https://fred.stlouisfed.org/series/LNS12500000
Especially if you read the following bit:
Latest List of Layoffs Over Last 3 Months:
1. Twitch: 35% of workforce
2. Hasbro: 20% of workforce
3. Spotify: 17% of workforce
4. Levi's: 15% of workforce
5. Zerox: 15% of workforce
6. Qualtrics: 14% of workforce
7. Wayfair: 13% of workforce
8. Duolingo: 10% of workforce
9. Washington Post: 10% of workforce
10. eBay: 9% of workforce
11. PayPal: 9% of workforce
12. Business Insider: 8% of workforce
13. Charles Schwab: 6% of workforce
14. Macy's: 4% of workforce
15. Blackrock: 3% of the workforce
16. Citigroup: 20,000 employees
17. UPS: 12,000 employees
18. Deutsche Bank: 3,500 employees
19. Pixar: 1,300 employees
20. Salesforce: 700 employees
21. American Airlines: 650 employees
January 2024 saw a total of 82,000 layoffs, the second-worst January since 2009. Meanwhile, the US just reported that 353,000 jobs were created in January.
The jobs at all of these companies seeing layoffs tend to be full-time, high-pay, high-benefit jobs. The jobs number from yesterday includes many more part-time, lower pay, smaller benefit jobs than the ones mentioned above that have been lost.
If you lose your full-time job and have to take 2 or 3 part-time jobs to keep paying your mortgage, the current administration counts that as job growth.
That's how messed up the system is right now.
Just going to leave this here:
https://twitter.com/mtmalinen/status/1753700241465835732
👉🏽"BTC has allowed anyone to cut to the front of the “fiat currency Cantillon Effect benefit line”. - yes!!
Please read both tweets: https://twitter.com/LukeGromen/status/1753854390367039907
To make it extra 'special': "10% of the world‘s population own 75% of all wealth, get 50% of all income and account for nearly half of all CO2 emissions.
source IMF: (picture 5)
👉🏽Germany: Retail sales have fallen by 4.4% in Dec YoY. This means that even Christmas sales fell through. Germans have gone on a buyers' strike since the outbreak of inflation and have even cut back on gifts for children during the Christmas season. This also explains why Germany has some of the toughest competition in the retail sector and the lowest profit margins there." Zschaepitz
Basically, all categories are down except gas stations and clothing & textiles. Hello, buyers strike!
German inflation slows to 2.9% in January from 3.7% in December, the lowest level since June 2021. Core CPI slows to 3.4% in Jan from 3.5% in Dec, lowest level June 2022. Energy in deflation, Energy prices dropped -2.8% YoY, while Food CPI slowed to 3.8% from 4.5% in Dec.
👉🏽 The two largest economies in Africa are under huge financial strain.
On the 30th of January, Nigeria de facto devalued the naira by ~30% (after another ~30% devaluation in June). And Egypt is under pressure to devalue too, with the pound ~50% weaker in the black market. The Naira has moved from ~470 vs the USD in June last year to now at 1452 as of the 1st of February.
Bitcoin could step in as an economic life raft. It offers a robust alternative to national currencies prone to devaluation, providing a measure of financial sovereignty to individuals.
I will quote Alex Gladstein on this topic:
"In neither case did the government ask the people for permission to dramatically reduce their wages, purchasing power, or living standards.
Now hundreds of millions will suffer
Currency devaluation is a crime against humanity."
https://twitter.com/DSBatten/status/1753171731521691872
👉🏽US Treasury Department cuts Jan-Mar borrowing estimate to $760 billion from $816 billion and estimates $202 billion net borrowing for Apr-Jun, per Bloomberg.
Are they smoking crack?
The Treasury has issued $134BN in debt in the past 4 weeks but expects to issue $202BN in all of Q2.
"if anyone expects any econ data in the election 2024 year to be i) accurate or ii) make any sense, you will be severely disappointed."
👉🏽https://twitter.com/jameslavish/status/1753804440166125702
"We're getting to the point now where the interest expense on the debt is so high that it's going to eat up our ability to basically service the next generation"
"I'm not even sure about the current one"
"We are in deep trouble"
"By 2027, the interest expense alone on the debt eats all healthcare spending"
"By 2047, it eats all discretionary spending"
👉🏽"A record $8.9 trillion of government debt will mature over the next year.
Meanwhile, the government deficit in 2024 is projected to be $1.4 trillion.
This means that someone will need to buy more than $10 trillion in US government bonds in 2024.
That's nearly a third of all outstanding US federal debt right now.
All the while the Fed is expected to start cutting rates, making buying these bonds less attractive.
One of the biggest issues with a higher for the longer environment is US debt.
Debt service costs for the US government have more than doubled since the Fed started raising rates."
Yesterday Fed Chair Powell said it best himself:
Scott Pelley (60 Minutes): “Is the national debt a danger to the economy in your view?”
Fed Chairman Jerome Powell on the US national debt:
• We’re on an unsustainable path
• Debt is growing faster than the economy
• We’re borrowing from future generations
Projected debt in 30 years: $144 Trillion"
We need Bitcoin now more than ever.
"Under current fiscal policies, the Debt to GDP ratio in the US is projected to hit 200% within 20 years.
Before 2020, Debt to GDP in the US was ~100% and before 2008 it was ~60%.
Current estimates show the US hitting $50 trillion in total debt by 2033.
This means that the US will add $218 million in debt EVERY HOUR until 2033.
Just imagine what would happen if the Fed doesn't in fact achieve a soft landing."- TKL
This is unsustainable.
👉🏽Nearly 30% of ALL stocks in China have trading stopped as the CSI 1000 index falls 8%. Healty world economy, right?
🎁If you have made it this far I would like to give you a little gift:
https://www.youtube.com/watch?v=IyMKjrNxaGo
Free knowledge!
Credit: I have used multiple sources!
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @Relai 🇨🇭 especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.
⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It's that simple.
⠀⠀⠀⠀⠀⠀⠀⠀
Do you think this post is helpful to you? If so, please share it and support my work with sats. #zap 🧡 #weeklyrecap #nostr #plebchain #BTC #Bitcoin #zap🧡 #plebchain #grownostr #stacksats #bitcoineducation #adoption
https://void.cat/d/KMeCzUjTw546VNFZXp2sfH.webp
https://void.cat/d/6zWM9muJ5vrYTZpZLiRcC2.webp
https://void.cat/d/5v2jTLuun4MXh4NZptnWBW.webp
https://void.cat/d/DLzsyo9n6Gf7bJXxAy5QmC.webp
https://void.cat/d/PTDQ1a9iNcESRCaZqrtyP6.webp

2024-01-31 20:51:28

At the Bitcoin conference 23’in Amsterdam, I had the pleasure of having a chat with an old chap called Bert. It was his second time at the conference. He had a spot at the expo area with his mobile espresso bar.
I showed him the beauty of Bitcoin and insisted on paying for a coffee with Bitcoin.
After that, a quick demonstration of Breeze and he received his first 'coffee' sats.
Now fast forward to the beginning of 2024.
I met him in Amsterdam, at his 'normal' spot at the entrance of the Vondelpark, near Vondelchurch.
https://btcmap.org/merchant/node:11380255884
I helped him to set up Breeze - items and had a nice chai latte.
Unfortunately, people didn't know that you can pay for your coffee with Bitcoin/sats. No problem, after our appointment, I sent him some stickers. Look at the result.
So please plebs...if you are visiting Amsterdam. Check out the Vondelpark ,and whilst doing that, get yourself a coffee at First Coffee and drop some sats.
Study, learn, hodl, decouple.
#bitcoin 🧡
▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @Relai 🇨🇭 🇨🇭 especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.
⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It’s that simple.🎯
⠀⠀⠀⠀⠀⠀⠀⠀
Do you think this post is helpful to you? If so, please share it and support my work with sats. 🧡
Felipe - BitcoinFriday
#zap 🧡 #nostr #BTC #Bitcoin #plebchain #grownostr #stacksats #bitcoineducation #adoption #🍊💊 #orangepilled https://image.nostr.build/4ad08d47b8530ac7b1cc17693c48c1d3c4d9ae7ab08e96eda8cce580bdc8651c.jpg https://image.nostr.build/08ef89aa572066fbc524bf1adb937a8ef3823fb7603a4971a8ef39c8b3a4afb7.jpg https://image.nostr.build/b9311e4317e1039cc54b9cba2ab22afefed7fc486e180520d70df99d398018c5.jpg https://image.nostr.build/99b2e361d58f1e71de3c2f62b7df37b9a03a42827134421e31097c856da0ca9c.jpg

2024-01-23 21:22:01

🧠Quote(s) of the week:
"Imagine working 9-5 for 50 years then The Fed prints 40% of the total money supply and inflates away 20 years of your work."- BTCforFreedom
"Freedom of speech becomes impossible through the incentives of manipulated money!
(regardless of who benefits from said manipulation tells you)
#Bitcoin
Stealing productivity gains (via inflation) that should flow to society in the form of lower prices is the root cause." -Jeff Booth
"In the coming bull run, just about everybody in "crypto" will take credit and revel in the price of Bitcoin. They'll try to trick you by showing you this "other" coin that will do the same thing. This is called affinity scamming, and there are a lot of people who have positioned themselves over the last 4 years to do exactly that.
Save yourself the heartache and go Bitcoin only." - Jimmy Song
🧡Bitcoin news🧡
➡️After seven weeks, Bitcoin falls below $40k and…. no one cares just keep stacking.
Now what is the reason why Bitcoin is dropping?
➡️According to reports from CoinDesk, it appears that up to 1/2 of the $2B in GBTC outflows were from FTX liquidating their 22 million shares.
In addition, FTX's sister hedge fund Alameda Research voluntarily drops its lawsuit against Grayscale Investments on the 22nd of january.
Ergo, blame FTX...again!
"It looks like the majority of Greyscale's (GBTC) outflows were not due to its higher fees, but rather due to a legal obligation of bankrupt FTX to liquidate its holdings.
I'll say it again. I suspect with most FTX redemptions out of the way, GBTC outflows will come to a trickle by the end of the month, retaining their kingship of the spot
Bitcoin ETF space by an enormous margin." -Oliver L. Velez
(picture 3)
➡️BlackRock & Fidelity now hold more than 64,000 Bitcoin worth ~$2.6b. They're buying $433m Bitcoin every day on average.
in total 9 Bitcoin ETFs now hold +95,000 Bitcoin worth ~$4 Billion.
Bitcoin ETFs had $17.2b in trading volume in just 6 days.
➡️Bitcoin hits new sustainable energy high of 54.5%, the highest of any global industry:
"Sustainable energy use for Bitcoin (BTC) mining reached an all-time high of 54.5% in 2023, a 3.6% increase throughout the calendar year.
The analysis, conducted by The Bitcoin ESG Forecast, compared Bitcoin’s sustainable energy mix to other industries using publicly available data over the past four years. Furthermore, the industry has made notable progress in increasing its reliance on sustainable energy sources, surpassing other global sectors."
The results indicate that Bitcoin mining currently ranks as the largest consumer of sustainable energy among subsectors. (picture 2)
➡️https://twitter.com/LNMarkets/status/1749387083620257990
LN Markets is killing it! Great volume, incredible achievement!
➡️Bitcoin has been open for 99.99% of the time over the last 15 years.
➡️In full-on dumping mode, Bitcoin miners sold over 10,000 BTC alone on January 17. It marked the biggest daily decline in miner reserves in over 12 months.
Bitcoin miner reserves are at their lowest levels since July 2021.
➡️Bitcoin Whale sells 59K $BTC, purchased 3-6 months ago at an average price of $26K. This could be anyone...profit taking by any major party such as BlackRock etc. as they speculate on the selling of GBTC. (grayscale)
➡️Bitcoin hash rate hits an all-time high of 500 exahashes.
➡️Bitcoin network difficulty drops -3.90%, the largest negative correction since December 5, 2022, amid curtailments of Texas miners due to extreme cold conditions in the Lone Star State.
➡️ Another leak, now at Trezor. On January 17th, 2024, there was unauthorized access to their third-party support ticketing portal. The security incident has implications for customers who have interacted with Trezor Support since December 2021. Based on the ongoing investigation of the incident and the communication with the third-party service provider there is a potential that the contact details of up to 66000 users, customers who have interacted with Trezor Support since December 2021, may have been accessed.
TLDR: Of course, this can happen to everyone. But for the love of god start using Bitcoin-only hardware wallets.
Blockstream Jade
Bitbox 02 - Bitcoin only
Foundation Passport
➡️Over $24 billion worth of cryptocurrency was received by illicit addresses in 2023 accounting for 0.34% of all transaction volume,
Chainalysis has been estimated.
Now ask yourself, why do we need new AML/Money laundering rules and laws, like for example MiCAR or the new anti-crypto law by Senator Warren?
2-5% of traditional finance is estimated to be used for illicit transactions according to the UN. It's the fiat system that facilitates corruption...
➡️$2 Billion of dormant Bitcoin was moved for the first time since 2019. It had only moved once since 2013. - Arkham Intel
➡️Great tweet by Daniel Batten. "By investing in Bitcoin you support:
1. The profitability of renewable energy.
https://news.cornell.edu/stories/2023/11/bitcoin-could-support-renewable-energy-development…
2. the mitigation of methane, our #1 lever to slow climate change.
https://planb.lugano.ch/why-bitcoin-is-the-worlds-best-esg-asset/…
3. The world's least emission-intensive financial instrument.
➡️HODLers are not selling
The HODL Waves chart shows the amount of Bitcoin held for different periods. Long-term holders (see blue arrows - 1yr+ & 6mo+) have NOT sold any BTC to ETFs
(picture 1)
💸Traditional Finance / Macro:
👉🏽The S&P 500 has officially hit a new all-time high for the first time in 2 years.
All 3 major market indices are now in all-time high territory.
An all-time high in fiat terms...in BTC...oh well, just have a look at the picture.
(picture4)
The S&P 500 is now 11% higher than where it was when the Fed started hiking rates in March 2022. Serious disconnect between the traditional financial markets and the economy.
"Owning an SP500 fund is no different from holding a tech ETF.
The top 7 components are all tech companies and represent 26% of its holdings.
SPX should no longer be viewed as a diversification instrument. It’s no longer spreading risk across 500 companies to protect you."
🏦Banks:
👉🏽https://twitter.com/JoeConsorti/status/1748133433761526134
Powell & Co. are planning to FORCE all banks to utilize emergency credit so that the market can’t tell safe banks from distressed banks. For me, the above tweet and the ramifications of that FED rule are yet another sign of the upcoming (necessary event) collapse/recession. They, the FED, did a similar thing in 2007.
In the end, the banking industry is set to consolidate. (picture 5 cash banks)
🌎Macro/Geopolitics:
"The Fed's cumulative losses are nearly $140 billion now, and continuing to grow.
It doesn't really affect the Fed, but it adds to the fiscal deficit. The Fed used to be a profit source for the Treasury.
Now, its operating losses keep digging it into a hole, so no profits flow to the Treasury. The Fed has to once again turn profitable and pay back its cumulative losses before it would resume sending profits to the Treasury".- Lyn Alden (foto)
Meanwhile, the U.S. National Debt has crossed $34 trillion. That’s $102,719 for every single person in America.
👉🏽When asked what is the purpose of his trip to Davos, Javier Milei responds: "Planting the ideas of freedom in a Forum that is contaminated by the Socialist Agenda 2030 will only bring misery to the world."
"As we kick off 2024, the US has already added another ~$200 billion in Federal debt over the last 3 weeks.
This puts annual interest expense on track to hit $1.05 trillion.
To put this in perspective, annual interest expense was less than $500 billion just TWO YEARS ago.
As interest rates rise and deficit spending soars, interest expense is becoming one of our largest costs." - TKL
Ergo: Kicking the can down the road...as usual. With trillions of dollars of debt set to mature in the next 12 months, along with $2 trillion-plus of deficit spending likely for fiscal year 2024, and with the trough of the yield curve now the 5-yr UST bond at 4.04%, interest expense is likely to go much higher.
👉🏽"For 1st time in almost 30 years, China’s GDP in $ fell in 2023 to about $17.5trn, while U.S. gdp rise 6% to about $27trn. The gap widened by about $2trn. And China’s share of world GDP slipped to just under 17%. China's real GDP is now further below its pre-COVID trend than after the 2008 crisis. China will inevitably export its weak domestic demand to the rest of the world via rising current account surpluses and deflation."
China is contemplating issuing 1 trillion yuan ($139 billion) in new debt through a special sovereign bond plan, marking only the fourth such sale in 26 years
The Middle Kingdom appears to be warming up the money printer.
Talking about liquidity:
👉🏽"Money market funds just saw $182 billion of inflows in the first 2 weeks of 2024.
This is the biggest 2-week inflow ever recorded to start a year.
This brings the total assets held by money market funds up to a record $6 trillion.
Since the Fed began raising rates in March 2022, over $1.5 trillion has gone into money market funds.
Now for the trillion-dollar question.
Where does all this capital go once the Fed starts cutting rates?" - TKL
Maybe we can find the answer in the following statement:
👉🏽The top 0.1% (132,000 households) have a combined net worth of $20 trillion.
The bottom 50% (66,000,000 households) have a combined net worth of $3.6 trillion.
The wealth gap keeps widening to ever more extremes with each intervention cycle.
https://twitter.com/NorthmanTrader/status/1747257006497706458
👉🏽 https://twitter.com/DylanLeClair_/status/1748012214794006802
Bingo: Opt Out Bitcoin
The world has now access to the hardest assets in human history.
👉🏽https://twitter.com/Schuldensuehner/status/1748984398135906365
"Why Germany is rich but Germans are poor and angry. Germany’s grossly unequal distribution of wealth is contributing to the country’s malaise. The median household in Germany has just €107k of net assets, while the wealthiest 10% have at least €725k. Reconciling the Free Democrats’ anti-borrowing philosophy w/Social Democrats’ commitment to welfare spending & the Greens’ determination to promote decarbonization has led to bickering & compromises that satisfy almost nobody." - Holger Zschaepitz
https://www.bloomberg.com/opinion/articles/2024-01-15/why-germany-is-rich-but-germans-are-poor-and-angry
🎁If you have made it this far I would like to give you a little gift:
"The focus on security and decentralization is largely what makes Bitcoin different from other cryptocurrency networks"..."Bitcoin is competing in the global marketplace of monies."
Good article for people who don't understand investing in Bitcoin:
https://www.lynalden.com/bitcoin-network-health/
Free knowledge!
Credit: I have used multiple sources!
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @Relai 🇨🇭 especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.
⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It's that simple.
⠀⠀⠀⠀⠀⠀⠀⠀
Do you think this post is helpful to you? If so, please share it and support my work with sats. #zap 🧡 #weeklyrecap #nostr #plebchain #BTC #Bitcoin #zap🧡 #plebchain #grownostr #stacksats #bitcoineducation #adoption
https://void.cat/d/WWGWxznxF65tpkFhtpSxF7.webp

2024-01-19 21:31:02

Bitcoin hashrate plunges, with over a 25% drop from 530 Eh/s (7DMA) to 385 Eh/s.
This is primarily due to miners in Texas powering down to aid the power grid during frigid temperatures.
"Bitcoin hashrate has declined as much as 25% over the past three days as miner operators in Texas curtail power to strengthen the local grid amid a cold outbreak.
Notably, Foundry USA Pool has been the main source of the decline, witnessing its miner customers unplug as much as 75 EH/s of hashrate mainly due to curtailment activities in Texas.
After China’s crackdown on bitcoin mining in 2021, Texas has emerged as the new global hub of bitcoin mining. As of September, more than 28% of the hashrate connected to Foundry’s pool was in Texas."
Texas is home to roughly 13% of the global hashrate.
Sources:
https://theminermag.com/news/2024-01-16/bitcoin-hashrate-drop-texas-miner-curtail-grid/
https://miningpoolstats.stream/bitcoin
I just wrote this post whilst my S9 heater made livingroom 🔥⚡️
https://miningwholesale.eu
Livingroom warm ✅
Mining sats ✅
Opt out: Bitcoin🧡
Study, learn, hodl, decouple.
#bitcoin 🧡
▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @Relai 🇨🇭 🇨🇭 especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.
⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It’s that simple.🎯
⠀⠀⠀⠀⠀⠀⠀⠀
Do you think this post is helpful to you? If so, please share it and support my work with sats. 🧡
Felipe - BitcoinFriday
#zap 🧡 #nostr #BTC #Bitcoin #plebchain #grownostr #stacksats #bitcoineducation #adoption #Bitcoinmining #S9heater https://image.nostr.build/f3a4b9df400d209f4fcb39533dc8601e27c45bfe051845cfa728dd647b49f958.jpg

2024-01-18 21:14:17

Massive amount of Bitcoin moves for first time in 5 years…👀
$2 Billion of dormant Bitcoin.
Study, learn, hodl, decouple.
#bitcoin 🧡
▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @Relai 🇨🇭 🇨🇭 especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.
⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It’s that simple.🎯
⠀⠀⠀⠀⠀⠀⠀⠀
Do you think this post is helpful to you? If so, please share it and support my work with sats. 🧡
Felipe - BitcoinFriday
#zap 🧡 #nostr #BTC #Bitcoin #plebchain #grownostr #stacksats #bitcoineducation #adoption

2024-01-15 21:29:29

- reply

Zeker heb ik tips! stuur me anders maar even een DM.

2024-01-13 23:35:18

It’s cold in the Netherlands❄️…
The perfect time to install an S9 heater!
Many thanks to Mining Wholesale!
https://miningwholesale.eu
Livingroom warm ✅
Mining sats ✅
Opt out: Bitcoin🧡
Study, learn, hodl, decouple.
#bitcoin 🧡
▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @Relai 🇨🇭 🇨🇭 especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.
⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It’s that simple.🎯
⠀⠀⠀⠀⠀⠀⠀⠀
Do you think this post is helpful to you? If so, please share it and support my work with sats. 🧡
Felipe - BitcoinFriday
#zap 🧡 #nostr #BTC #Bitcoin #plebchain #grownostr #stacksats #bitcoineducation #adoption #Bitcoinmining #S9heater https://video.nostr.build/f627ceca885fc3fa118cb3c0efd309433a4ba8af4e377cdda749be4b31223e82.mp4

2024-01-10 15:37:00

ECB fuckers!🤣
The ECB is basically saying GFY to everyone living under their regime.
Opt out: Bitcoin🧡
Study, learn, hodl, decouple.
#bitcoin 🧡
▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @Relai 🇨🇭 🇨🇭 especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.
⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It’s that simple.🎯
⠀⠀⠀⠀⠀⠀⠀⠀
Do you think this post is helpful to you? If so, please share it and support my work with sats. 🧡
Felipe - BitcoinFriday
#zap 🧡 #nostr #BTC #Bitcoin #plebchain #grownostr #stacksats #bitcoineducation #adoption #ECB https://image.nostr.build/ff2e435e65200fec62f890f9f91b887e1bc06e7e51062ae5089cf8278170a7fb.jpg

2024-01-10 15:23:25

- reply

💯🚨 value for value

2024-01-10 14:52:08

New Jerseyyy Time it is!
Fuckers!
#zap 🧡 #nostr #BTC #Bitcoin #plebchain #grownostr #stacksats #bitcoineducation #adoption #SEC https://image.nostr.build/c8698645ebf0ee415329b1633827a07e82febce05c1b7e274fb66a432fdfb2d4.jpg

2024-01-10 14:39:13

- reply

GM freaks!🧡🚨🔥

2024-01-10 13:05:14

Fuckers!🤣🤣
Opt out: Bitcoin🧡
Study, learn, hodl, decouple.
#bitcoin 🧡
▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @Relai 🇨🇭 🇨🇭 especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.
⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It’s that simple.🎯
⠀⠀⠀⠀⠀⠀⠀⠀
Do you think this post is helpful to you? If so, please share it and support my work with sats. 🧡
Felipe - BitcoinFriday
#zap 🧡 #nostr #BTC #Bitcoin #plebchain #grownostr #stacksats #bitcoineducation #adoption #SEC https://image.nostr.build/5d6aff22537142fb387d61ca9c977585725530b4eb10160b682e97fe82cd3c6f.jpg

2024-01-10 07:19:49

💀🤣🤣🤣 this is hilarious!
Study, learn, hodl, decouple.
#bitcoin 🧡
▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃
Felipe - BitcoinFriday
#zap 🧡 #nostr #BTC #Bitcoin #plebchain #grownostr #stacksats #bitcoineducation #adoption #SEC https://image.nostr.build/e6f04e7f82f231be07aac4ca84c7a030eac5a782f952d71138b24c63114f3d56.jpg https://image.nostr.build/d2a7923a8307cbd76fd168942bfcfe6d13ccb8b05d61f5587cf1673e82db7fa8.jpg

2024-01-09 23:41:01

Fuckers!
Opt out: Bitcoin🧡
Study, learn, hodl, decouple.
#bitcoin 🧡
▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @Relai 🇨🇭 🇨🇭 especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.
⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It’s that simple.🎯
⠀⠀⠀⠀⠀⠀⠀⠀
Do you think this post is helpful to you? If so, please share it and support my work with sats. 🧡
Felipe - BitcoinFriday
#zap 🧡 #nostr #BTC #Bitcoin #plebchain #grownostr #stacksats #bitcoineducation #adoption #SEC https://image.nostr.build/48cdf8df78a068f5c8b3befe31c10928e128b2d3a80bcd601f05cff66af98766.png

2024-01-08 21:42:28

- reply

H/T @npub17u5…t4tp https://image.nostr.build/103edcca3cb7040aeec07bece3d94134f8ff0c095b286f55c3cdd2c7a872feec.png

2024-01-06 09:07:02

Here you go, some weekend reading:
https://www.lynalden.com/january-2024-newsletter/
As always @npub1a2c…w83a is killing it, but what I like the most from this newsletter is that she used information from her previous write-ups and connected them to the economic changes over the last few years.
Please do yourself a favor and order her book ‘Broken Money’:
https://www.amazon.com/-/de/dp/B0CG8985FR?crid=3U31JD0RX7P7T&keywords=lyn+alden+broken+money&qid=1693853281&sprefix=Lyn+Alden,aps,553&sr=8-1&linkCode=sl1&tag=felipehubertu-20&linkId=549c11e6bc118853bc6c5593866e6336&language=de_DE&ref_=as_li_ss_tl
Opt out: Bitcoin🧡
Study, learn, hodl, decouple.
#bitcoin 🧡
▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @Relai 🇨🇭 🇨🇭 especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.
⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It’s that simple.🎯
⠀⠀⠀⠀⠀⠀⠀⠀
Do you think this post is helpful to you? If so, please share it and support my work with sats. 🧡
Felipe - BitcoinFriday
#zap 🧡 #nostr #BTC #Bitcoin #plebchain #grownostr #stacksats #bitcoineducation #adoption #lynalden #brokenmoney https://image.nostr.build/76ae8fdc42d80b4c555b46d933d456cc19e40ac4f3cc86cefe19ee3f10f0c15f.jpg

2024-01-06 08:39:13

“Yet the big surprise in Bondo is not simply the supply of energy to such an isolated community, in a country where only one in eight citizens has access to grid electricity and on a continent where almost half the 1.2 billion population still lack this life-changing supply. The real eye-opener is the stack of 32 computers inside the concrete pump shed. This innovative mini-grid — located more than two hours from Malawi’s second city of Blantyre along bumpy roads and tracks that can become impassable in a torrential downpour — is mining Bitcoin to fund its operation.”
“Bitcoin has also become a helpful tool for activists and journalists in dictatorships, since it makes it far harder to track funds.”
Full article: https://unherd.com/2024/01/the-african-village-mining-bitcoin/
Bitcoin is financial inclusion, Bitcoin is financial empowerment!
Opt out: Bitcoin🧡
Study, learn, hodl, decouple.
#bitcoin 🧡
▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @Relai 🇨🇭 🇨🇭 especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.
⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It’s that simple.🎯
⠀⠀⠀⠀⠀⠀⠀⠀
Do you think this post is helpful to you? If so, please share it and support my work with sats. 🧡
Felipe - BitcoinFriday
#zap 🧡 #nostr #BTC #Bitcoin #plebchain #grownostr #stacksats #bitcoineducation #adoption #financialinclusion https://image.nostr.build/22325141ea2dd7e978904e1a50680734fbd7e4a441f9c4455a46cd33283d2bb0.jpg

2024-01-06 08:24:01

Bitcoin ETF approval is basically done....
SEC is trying to line everyone up for Jan 11th launch - Eric Balchunas Bloomberg's Senior ETF analyst
Anywayyyyy, stack sats & stay humble!🧡
Opt out: Bitcoin🧡
Study, learn, hodl, decouple.
#bitcoin 🧡
▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @Relai 🇨🇭 🇨🇭 especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.
⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It’s that simple.🎯
⠀⠀⠀⠀⠀⠀⠀⠀
Do you think this post is helpful to you? If so, please share it and support my work with sats. 🧡
Felipe - BitcoinFriday
#zap 🧡 #nostr #BTC #Bitcoin #plebchain #grownostr #stacksats #bitcoineducation #adoption https://image.nostr.build/f044993f10b8a53ad75606964edc0883e13cb549e40706956a729d81a44dcbc5.jpg https://image.nostr.build/714fa3f6873fc036e25e4c9d3c0879a0869f85952f34b35248885369484155cc.jpg

2024-01-05 15:52:18

"71% of advisors favor #bitcoin over Ethereum.
29% should not be giving out advice."
source:
https://bitwiseinvestments.com/crypto-market-insights/the-bitwise-vettafi-2024-benchmark-survey
h/t to BitwiseInvest for conducting this survey.
Now, I am not giving financial advice, but you know I am Bitcoin only.
Bitcoin is going to stay forever. Cryptos like Ethereum will not. Period!
Bitcoin is the only thing really decentralized. Anything else apart from Bitcoin, including basically all other cryptocurrencies, is not really decentralized.
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @Relai 🇨🇭 🇨🇭 especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.
⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It’s that simple.🎯
⠀⠀⠀⠀⠀⠀⠀⠀
Do you think this post is helpful to you? If so, please share it and support my work with sats. 🧡
Felipe - BitcoinFriday
#zap 🧡 #nostr #plebchain #BTC #Bitcoin #zap🧡 #plebchain #grownostr #stacksats #bitcoineducation #adoption #shitcoins https://image.nostr.build/308273dd0f3d755d3545e68abda1ce906176d50bbd0c3984837fd28b2d0ec24d.png https://image.nostr.build/edc89da79bbac2f3bc023580b9a4a6911f36ac2e9b0b724c8aae74bf30f42d2a.jpg

2024-01-03 19:54:50

On this day 15 years ago Bitcoin went online!
Happy Bitcoin Genesis Block Day! This block is unspendable. Satoshi also waited 6 days before mining block #2 so others had time to join the network.
Now that Bitcoin has existed for 15 years! Lindy effect says that Bitcoin would at least exist for another 15 years.
January 3, 2009. Satoshi undermines block 0 on a difficulty 1 CPU and incorporates into the Genesis Block hexadecimal code base the headline of that day’s Times “The Times 03/Jan/2009 Chancellor on the brink of second bailout for banks”. The bank bailout plan ‘cause of the subprime mortgage crisis in the TGFC.
Since that day, the network has grown dramatically. Now, millions of people all over earth use Bitcoin. And while it’s great to hear about other countries like El Salvador embracing Bitcoin, I can’t help but wish my own country 🇳🇱 was embracing Bitcoin too.
Some stats (repost @relai.app ):
“In that time, it achieved:
📈$800M market cap
🆙+ 6 billion % price increase
⏲️+ 99.99% uptime
☠️Declared dead 475
⛏93% of supply mined
#⃣ Hashrate at 500 EH/s
💸+ 947 million transactions”
Tick tick, next block without fail, Bitcoin continues to provide us with the most significant tool for freedom of speech and monetary sovereignty in the digital age!
Bitcoin is about financial inclusion and economic empowerment.
Bitcoin is secured by the most powerful computing network in the world!🧡
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @npub1sqz…vk7v 🇨🇭 especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.
⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It’s that simple.🎯
⠀⠀⠀⠀⠀⠀⠀⠀
Do you think this post is helpful to you? If so, please share it and support my work with sats. 🧡
Felipe - BitcoinFriday
#zap 🧡 #weeklyrecap #nostr #plebchain #BTC #Bitcoin #zap🧡 #plebchain #grownostr #stacksats #bitcoineducation #adoption #happybirthdaybitcoin https://image.nostr.build/920ee812e71f2ea6e7813a390430d843354758effb663b9f2b5b3f76e8faef91.png

2024-01-01 19:01:32

Bitcoin had its best year after a bear market in its history.🧡
This year will be wild. No matter what.
The goal is to end up with more Bitcoin than you started with.
Happy new year fam!🧡
#BTC #Bitcoin #zap🧡 #nostr #plebchain #grownostr #stacksats #bitcoineducation #adoption https://image.nostr.build/af5fdfa6f92daabf50fc55244b2166fb7b664c170721ffec31eac80020b691ab.png

2023-12-26 20:13:58

🧠Quote(s) of the week:
"On Christmas Day, exactly 15 years ago, Satoshi Nakamoto was still at work perfecting the 1st Bitcoin code. Truly a gift to all mankind." - Pete Rizzo
"Bitcoin cannot tell lies, nor can it ever be covered up. Lying is the counterfeiting of facts, and truth cannot be counterfeited. The word Truth translates from the Ancient Greek word Aletheia (ἀλήθεια) which meant “unconcealed”—a nearly perfect adjective for digitally native, open-source money. For these reasons, Bitcoin is the truth that will bring an end to the counterfeiting of money." - Breedlove
"By saving Bitcoin, you are increasing the purchasing power of all other individuals holding Bitcoin around the world. By holding public equities and bonds, you’re perpetually funding the largest corporations and largest governments. It’s an easy choice. Fund the people." - Joe Burnett
As I said so often. Bitcoin is financial inclusion and financial empowerment. Our current system consolidates power, evident in the 1% owning 43% of global wealth. Bitcoin is promoting inclusivity with its 2.7 billion unbanked potential users worldwide.
🧡Bitcoin news🧡:
Before I start this Weekly Recap - Christmas special I want to wish you, my amazing Crypto Friday follower, a Merry Christmas! Your support has been the greatest gift of all. May your day be filled with joy, laughter, love, and the magic of Christmas. Best Wishes!
➡️For the Dutch plebs, please have a look at the following thread:
"We all know Bitcoin is dead but the #noderunners are snowballing into 2024! In honor to my frens, brothers, sisters, and fam a thread to reflect on 2023.."
https://twitter.com/onthebrinkie/status/1737454169613636004
https://twitter.com/onthebrinkie/status/1737454363944116558
The only thing that I can say: What a thread! I'm proud to be a part of this group. On to 2024!
Noderunners!
➡️Bitcoin leaves the rest of the crypto market behind - Financial Times
There is no second best…the narrative is shifting.
➡️Explain Bitcoin to your relative in 55 seconds this Christmas.
https://twitter.com/BitcoinNewsCom/status/1739103861971763403
➡️Bitcoin Price on Christmas Day:
https://twitter.com/BTC_Archive/status/1739246752115347943
➡️https://twitter.com/BitwiseInvest/status/1736755061127020794
Business ware will bring more glory to Bitcoin than any regulation or regulators. Have you noticed how Bitcoin just keeps getting more and more traction and attention? Both from mainstream media, universities, and regulators, but also the financial big boys. This ad is in anticipation of the Bitcoin ETFs and is a great example. There is NO WAY an ETF won't happen. They (top dogs) are so confident they released an ad.
Fasten your seatbells.
➡️ FOX Business confirmed "the date for final amendments to all" spot Bitcoin ETFs is December 29th. SEC has told issuers that applications that are fully finished and filed by Friday will be considered in the first wave."
➡️ New Record Bitcoin Hashrate 520,000,000,000,000,000,000x Hashes Per Second.
Let the hash ware begin. Hashrate increasing at this rate indicates a controlling government is expending resources on Bitcoin mining. If I had to guess why Bitcoin's hash rate is going bonkers.
Nonetheless, all I see is Bitcoin's robustness. Miner fee revenue is near an all-time high, and so are hashrate and Difficulty. Bitcoin is as safe, secure, and sound as it has ever been. Bitcoin's security and resilience are unmatched! If you have no clue what I just said.. send me a DM or comment below, and I will send you some study material.
➡️https://twitter.com/lopp/status/1739137817731530819
➡️ Last week I wrote a bit on Elizabeth Warren: 'US Senator Elizabeth Warren introduces bill to crack down on crypto and Warren adds 5 new Senators as co-sponsors to The Digital Asset Anti-Money Laundering Act of 2023.'
Elizabeth Warren and a few eager politicians want to *ban* people from owning or using Bitcoin. Your Brain is an "unhosted wallet" according to Warren and she wants to ban it! Meanwhile, Blackrock, Invesco, Fidelity, et al. want to make investing in Bitcoin easy for anyone by listing it on public market exchanges.
Who do you think wins this one?
Oh, by the way, a co-sponsor of the bill was the American Bankers Association. They helped write the bill. Classic!
➡️Argentina to allow contracts to be agreed in Bitcoin. President Javier Milei says "Bitcoin can eliminate the central bank" Legal tender next? He repealed forced legal tender and legalized currency competition. Not every country has to make Bitcoin legal tender like El Salvador. Each country will have its own unique path, and all roads lead to Bitcoin.
➡️ "Over 70% of all Bitcoin hasn't moved in the past year. HODLERs certainly aren't selling their Bitcoin to buy Christmas presents this year." - CoinBeast
➡️ Russian BitCluster to build a 120 MW Bitcoin mining facility in Ethiopia, aiming to turn the country into a global mining hub.
➡️ SEC tells spot Bitcoin ETF applicants to update submissions by December 29 if they want to be approved in the first wave - Reuters
💸Traditional Finance / Macro:
Week ahead: The markets are wrapping up a busy 2023 with a quiet week.
🏦Banks:
👉🏽"Banks are pocketing real money by borrowing money from the Fed's newest backstop facility, which charges a lower rate, and then parking it at another unit of the Fed, which pays higher interest. Banks are borrowing record amounts from this new facility."
"Banks borrowed a record amount from the Federal Reserve’s newest backstop facility in the most recent week as increasing wagers on interest-rate cuts made it a more attractive choice.
Data from the Fed showed an all-time high of $131 billion in borrowing from the Bank Term Funding Program, or BTFP, in the week through Dec. 20. That compares to a previous record of $124 billion, reached in the week ended Dec. 13."
Regulatory Arbitrage. Arbitraging the Fed itself. No risk. Absolute clown show. Classic bank mindset - making money at the expense of the public.
source: https://archive.ph/xhUg5
🌍Macro/Geopolitics:
👉🏽 As mentioned in the Bitcoin News segment, President Javier Milei says "Bitcoin can eliminate the central bank" Legal tender next? He repealed forced legal tender and legalized currency competition.
During his campaign, he promised to abandon the Peso and will focus on becoming 'dollarize'. It's free competition among currencies, people will have to choose. I think Milei has a plan to go beyond the god-damned Dollar, but can't talk about it yet for obvious reasons. Good thing people are free to use Bitcoin. We'll see which currency the market demands...eventually.
https://twitter.com/steve_hanke/status/1738333600590803109
I will quote Lyn Alden and Alex Gladstein for more in-depth
Lyn Alden: "Whenever a country dollarizes, it increases demand for dollars and thus boosts the United States’ ability to print money and run deficits with mitigated inflation. They subsidize us, in other words. That’s the part about dollarization that doesn’t get said out loud too often.
There are about 160 currencies, and each of which is a centralized ledger. When you think about it, the fact that when a country’s currency fails, they must rely on the biggest country’s currency, is rather antiquated tech. If only there was a decentralized ledger alternative."
Alex Gladstein: "The peso system is truly awful and of course, its users should have dollar access (it’s only fair) — but if Argentina dollarizes it cedes a lot of power to the US and subsidizes our way of life This is precisely why we need a neutral apolitical decentralized global currency."
Remember most of the world runs on IOUs for dollars… not actual dollars. Deposits in banks are not actual dollars but claims for them. Importantly, the system considers IOUs for dollars as ‘money good’ as the actual cash in your hand.
👉🏽 https://twitter.com/LawrenceLepard/status/1739300775430660504
👉🏽"For all the technical analysts out there: The S&P 500 is now trading with a DAILY RSI of ~81, by far the most overbought level in years. The last time the daily RSI was at 81+? On September 2nd, 2020 the day before the S&P 500 fell 11% in 3 weeks. Since the October 27th low, the S&P 500 is up 16% in 36 trading days. Pullbacks have become nonexistent in this market." - TKL
👉🏽"The top 10 stocks in the S&P 500 now account for 35% of the ENTIRE index. The last time we saw this level of concentration? In 2001 when the Dot-com bubble busted. The "Magnificent 7" are now approaching +100% for 2023. Meanwhile, the remaining 493 stocks are still up less than 10%. All while the S&P 500 is up a massive 23% because of these 10 technology stocks. Truly a historic time for markets." - TKL
To put it down in figures:
2023 Returns...
Magnificent Seven: 75%
S&P 500: +23%
S&P 493 (excluding Mag 7): +12%
Personally, I think this dominance will only grow in 2024.
👉🏽 https://twitter.com/MichaelAArouet/status/1736646018588942693
Nothing really special. We, here in Europe, are the world leaders in regulations and we just had a decade-long, ultra-low interest rates in Europe that created many zombie businesses.
👉🏽 "40% of all student loan holders failed to make payments when they resumed in October. This means that 8.8 million out of 22 million borrowers missed student loan payments. Currently, we have a record $1.6 trillion of outstanding student loans. The average payment is ~$500/month and comes at a time with record low levels of affordability."- TKL
👉🏽"The new IMF term for the plateauing of trade openness since the financial crisis is "slowbalization".
(foto)
Source: https://www.imf.org/en/Blogs/Articles/2023/02/08/charting-globalizations-turn-to-slowbalization-after-global-financial-crisis
👉🏽 https://twitter.com/KobeissiLetter/status/1737110229597458591
I kid you not! 12 days apart!
👉🏽 "On July 7, 1971, Paul Volcker arrived in The Netherlands to tell then President of the Dutch central bank, Jelle Zijlstra, to cancel a request for converting 250 million dollars into gold. Zijlstra said he would not cancel the request because he only held on to dollars as working stock, to which Volcker said: “You are rocking the boat.” Zijlstra replied that if a conversion of 250 million dollars rocks the boat, that boat has already sunk. On August 15, 1971, the US suspended dollar conversion into gold altogether." - JanGold
For your information: Paul Volcker was an American economist who served as the 12th chairman of the Federal Reserve from 1979 to 1987. BUT!!
Appointed by the Nixon Administration, Volcker served as undersecretary of the Treasury for international monetary affairs from 1969 to 1974.
You could say this was the day the dollar became worthless. Zijlstra & Volcker had a historic behind-the-scenes look at the chaos just before America betrayed the world post-WWII monetary system by eventually introducing inside money instead (treasuries) of outside money (gold). By doing that the current US dollar fiat standard emerges.
Dutch rocked the both first...just to give you some context:
"At $42 an ounce, $250M works out to 5.9M ounces of gold. Out of a supposed 252M stockpile. Jelle was right, if removing 2% of the US's gold was such a problem, then the problem was much larger than advertised."
After that France, Switzerland, and the UK did the same. France and Switzerland converted 200mill and 50mill respectively at that time. Which ultimately led to the historical moment on the 15th of Augustus, 1971. The US feared a run on the gold...
US President Richard Nixon completely stopped dollar convertibility to gold, "temporarily" he said. It has been 50+ years since the meaning of the word "temporarily" has been converted to "never".
Richard Nixon's decision to suspend gold convertibility of the dollar on August 15, 1971, resulted in the collapse of the Bretton Woods system.
The international monetary and financial order has been a criminal scam for a very long time. Gold bugs were right, but their timing was way off.
Look at the damage of that scam: https://wtfhappenedin1971.com/
Bitcoin opt-out!
Imagine a future where central banks are replaced by national Bitcoin mining operations. A bold blend of tech and economics!
I quote Luke Gromen: "The use case of Bitcoin is political freedom & the preservation of democratic values. Simply put, once you control the money, voting becomes irrelevant. That this is not immediately obvious & valued to many policymakers should be an important signpost (red flag?) in and of itself."
I will say it again. Bitcoin offers an opt-out from the financial system. When you, for the love of god, still decide to buy a Bitcoin ETF...you are selling this valuable option and paying a fee to do so. Holding your own Bitcoin is key in the upcoming years/decades.
"Afraid of the government banning Bitcoin? The US government banned ownership of gold in 1933 when it was $20 an ounce Gold is $1800 an ounce now, up 90X since it was banned. Stack sats & hold your keys. They can't take your BTC if you hold it yourself."
https://twitter.com/RealSpikeCohen/status/1738696879917957561
🎁If you have made it this far I would like to give you a little gift:
In the following interview/podcast 'What Bitcoin Did - WBD751" you will learn:
- Currency devaluation's impact on Malawian people
- Globalisation, debt & manipulation
- Economic dependence & exploitation in Africa
- Bitcoin: empowerment & energy independence
It is a great discussion of the global economic structure and how it impacts non-dollarized economies.
"If Bitcoin becomes a bigger part of the global economy we take this weapon away from states…then they’re going to have to look at the other options…if they try to impose those things, that will probably lead to their downfall." - @gladstein WBD751
https://www.whatbitcoindid.com/podcast/bitcoin-a-30000ft-view
or watch it on YouTube: https://www.youtube.com/watch?v=8sY19BRtYuc
Credit: I have used multiple sources!
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @Relai 🇨🇭 especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.
⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It's that simple.
⠀⠀⠀⠀⠀⠀⠀⠀
Is this post helpful to you? If so, please share it and support my work with sats. #zap 🧡 #weeklyrecap #nostr #plebchain #grownostr #stacksats
https://image.nostr.build/f10cbfbe91f6aecb14ac41a3b6ff6e884928e8a1880b4361994b4f1d55f3c279.png

2023-12-26 14:47:12

Greg Foss: “All of your “assets” are melting ice cubes denominated in #bitcoin .”
#BTC #Bitcoin #zap🧡 #nostr #plebchain #grownostr #stacksats #bitcoineducation #adoption https://image.nostr.build/0fdbe624c7816e6c770c59d8ae952b3c1d673d425ebf55fc41e0925eedb0e697.jpg

2023-12-24 11:04:06

- reply

GM! Merry Christmas 🎄🎁🧡💜

2023-12-23 22:43:22

New Record Bitcoin Hashrate 🔥
510,000,000,000,000,000,000x
Hashes Per Second
Proof of work!🧡
Study, learn, hodl, decouple.
#bitcoin 🧡
▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: The @Relai 🇨🇭 app is especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (guide) and video for more info.
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node... be your own bank. Not your keys, not your coins. It’s that simple.
Do you want to know more about this? Check out my daily stories on Instagram. (yeah I know IG sucks🥴)
Is this post helpful to you? If so, please share it!🧡
If you have any questions, let me know in the comments or send me a DM!⬇️
▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃
Like my content?🙏🏽
Please consider dropping some sats, following, comment✅
⭐ Many thanks⭐
Felipe - Bitcoin Friday!
▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃
#zap 🧡 #nostr #plebchain #grownostr #stacksats #bitcoineducation #adoption #proofofwork https://image.nostr.build/f57bf3c1441934291ee2a5a9c153029dc1cdd20fcc1060fb2110ca7bea107c3b.jpg

2023-12-18 20:12:31

🧠Quote(s) of the week:
"A control structure disguised as a free market will do everything in its power to retain control. and... it gets stronger, by the division of you within it. All you have to do is stop playing by its rules. Bitcoin"- Jeff Booth
As I said so often. Bitcoin is financial inclusion and financial empowerment. Our current system consolidates power, evident in the 1% owning 43% of global wealth. Bitcoin is promoting inclusivity with its 2.7 billion unbanked potential users worldwide.
🧡Bitcoin news:
➡️ FASB has officially adopted Fair Value Accounting for Bitcoin for fiscal years beginning after Dec 15, 2024. This upgrade to accounting standards will facilitate the adoption of $BTC as a treasury reserve asset by corporations worldwide.
Now why is this huge? Previously companies could only value their bitcoin at the lowest price since they bought it, which meant they would have to record losses, but not the gains when the price recovered. This is an amazing step in the adoption process. This move by FASB is a landmark decision in the accounting treatment of Bitcoin. The tide is turning for Bitcoin. Slowly, then suddenly.
Source: https://www.fasb.org/page/getarticle?uid=fasb_Media_Advisory_12-13-23
For those who want more context and a super simple explanation, here's a thread all about it from last year:
https://twitter.com/jameslavish/status/1592228100934438913
Or ELID (Explain like I’m degenerate)
"If you YOLO’d your company’s bag into Bitcoin, your balance sheet would only reflect the price at its most REKT. Thanks to the new rules, if Bitcoin pumps you can reflect the ACTUAL price (fair value), and show your shareholder what a Chad you are." - @DAzaraf
Michael @saylor said this one year ago:
These 3 catalysts will take Bitcoin to $5 million:
1. Spot ETF approval
2. Traditional bank custody of Bitcoin
3. Fair value accounting rules from FASB
It seems like we are getting the first two fairly soon and the third one in 2025. Please forget the price (5 million), it's about how the network is growing and how the network getting more and more mature. Bullish!
➡️ In the face of a bear market, Bitcoin's transaction volume share tells a story of unwavering adoption across the globe. Western economies don't dictate its fate. As economic challenges mount worldwide, Bitcoin shines as a beacon, driving its adoption ever upward. If the West stops Bitcoin nothing changes for Westerners. It’s different in the Global South. Bitcoin can not be stopped there. The people won’t allow anything to stop it. And it’s only getting stronger." - Sooly
Bitcoin is the only asset that anyone in the world can hold.
(picture - chainanlysis)
➡️ "BlackRock has amended its Bitcoin ETF structure to make it easier for Wall Street banks like Goldman and JP Morgan to own Bitcoin — even though regulations prevent banks from holding Bitcoin directly. This model is designed to improve investor protection and reduce transaction costs, both key SEC requirements for approval." - Bitcoin Archive
➡️ The narrative amongst the institutional and leftward-leaning is changing: the ESG criticisms are moot, and Bitcoin is a force for good.
Last week the Financial Times published its first cautiously pro-Bitcoin ESG article.
If they are writing pro-bitcoin ESG material it’s because the decision makers on high have finally allowed it.
Funny isn't it how the narrative has shifted a complete 180? Ow well, let's have a look at a 'decision maker':
https://twitter.com/PrestonPysh/status/1734992631535386766
➡️ Last week Bitcoin price closed UP 8 weeks in a row for the first time since 2017.
Last week I wrote the following:
"If you have a Ledger you might want to consider another hardware wallet, you should at least stop using Ledger Live and switch to Sparrow Wallet.
When it comes to privacy and potential downsides of Ledger in the future, I would not recommend Ledger anymore.
In summary / Red flags for Ledger:
User data leaked (3rd party - supplier got hacked). Now people are being scammed or harassed by phone. It's not entirely Ledger's fault, but still very unpleasant.
Marketing/gear: Caps and chains to hang or store your ledger in. In my opinion, it makes no sense for a company, especially a hardware company, to sell such merchandise. It goes against the ethos of Bitcoin/Cypherpunks regarding privacy.
Closed source - in short, preferably you want a hardware wallet that is open source. Like the hardware wallets mentioned below.
Recovery service is perhaps my biggest concern. Ledger can/does possess your private key. This could, for example, be given away if a government were to intervene. Or if a server at Ledger were to be hacked, your private key could (theoretically) be stolen."
This week we learned the following.
"Ledger Connect Kit Breach: Hacker Siphons $484K, Company Rolls Out Version 1.1.8
The unknown attacker that compromised Ledger’s Connect Kit Library has reportedly siphoned $484,000 from wallets, according to the on-chain intelligence firm Lookonchain. Ledger disclosed a former employee fell victim to a phishing attack and the attacker gained access to the Ledger Connectkit Library and uploaded a malicious bug." -BitcoinNews
If you want to learn more on this matter: https://twitter.com/MatthewLilley/status/1735285684070461534
Ledger has learned nothing about opsec from multiple breaches. At this point, I don't think anyone should in good conscience recommend their hardware or use their libraries. What happened?
I bet 80% of Ddefi and blockchain projects have the same level of opsec or worse than Ledger. They have yet to be attacked.
That's why I get mad that so-called influencers are promoting Ethereum and calling DApps a great feature.
Picture (story)
These affiliate-larping individuals are in my opinion more harmful to the space than hacks.
I will quote @npub1az9…m8y8 (CEO Coldcard):
"It's not just Ledger; any client software that maintains 1,000s of coins will have the same problem. It's just too much bloat to maintain and secure. Put your precious bitcoin on COLDCARD and your altcoins stay on the exchanges, where you doing the speculation anyways."
So what about Trezor? "IMO That's just virtue signaling, the codebase still has all the shitcoins to be reviewed and share resources, and the desktop client has all the shitcoins in it."
Which hardware then?
Blockstream Jade for affordability, Bitbox02 (Bitcoin only or the multi-edition if you have shitcoins...but check the above statement), Foundation Passport for user-friendliness, and Seedsigner for trustlessness. You might want to drop the Coldcard in the mix, but one trade of... closed sourced.
Order your Jade here: https://bitcoinbrabant.com/product/blockstream-jade-2/
Order your BitBox 02 Bitcoin Only here: https://bitbox.swiss/bitbox02/?ref=IYjAmzKEXw
But when it comes to privacy and potential downsides of Ledger in the future, I would not recommend Ledger.
(Picture Ledger)
➡️ "Ledger and other wallets offer a desktop or mobile companion app. (Ledger + Ledger Live) I would recommend using an open-source hardware wallet in combination with the use of Sparrow, Electum, Nunchuk, and other clients. By doing that you increase security and privacy incentives by splitting this into two vendors." -NVK
➡️ US Senator Elizabeth Warren introduces bill to crack down on crypto and Warren adds 5 new Senators as co-sponsors to The Digital Asset Anti-Money Laundering Act of 2023.
A reminder that Elizabeth Warren is one of the worst legislators of all time Lifetime stats for Warren Bills:
- 305 introduced, 0 became law
- 1766 Co-sponsored, 45 became law
Warren sponsored:
36 bills in the 118th Congress (2023-24). 0 passed.
103 bills in the 117th Congress (2021-22). 0 passed.
98 bills in the 116th Congress (2019-20). 0 passed.
80 bills in the 115th Congress (2017-18). 0 passed.
27 bills in the 114th Congress. (2015-16). 0 passed.
She’s just a loud-mouthed engagement-bait troll.
Thank god Elizabeth Warren sucks at her job
https://twitter.com/stackhodler/status/1734871663450226762
They are scared because of this:
https://twitter.com/thomas_fahrer/status/1734519981675839940
➡️ "Bitcoin is pseudonymous and permissionless. The protocol does not know the number of users, only the number of addresses. This makes all claims relating to concentrated ownership fundamentally flawed."- Anil
(picture Anil)
➡️ Valkyrie CIO Steve McClurg on the spot Bitcoin ETF: "We know for a fact that insurance companies and pension funds are looking at Bitcoin as an investment"
➡️ On the 15th of December Marathon broke their own record and mined 125.8 Bitcoin (worth ~$5.3M) in the last 24 hours.
➡️ Former CEO of Google, Eric Schmidt on Bitcoin:
"Bitcoin is a remarkable cryptographic achievement, and the ability to create something that is not duplicable in the digital world has enormous value"
"As Bitcoin network grows the value of Bitcoin grows. As people move into Bitcoin for payments and receipts they stop using US Dollar, Euros, and Chinese Yuan which in the long-term devalues these currencies” - Andrew Howard
💸Traditional Finance / Macro:
👉🏽Week ahead: In the US we have consumer confidence, PCE deflator, and new/existing home sales. In Europe, it’s the Euro Area consumer confidence, German IFO survey, UK CPI, and retail sales. In Asia we have the BOJ meeting, and Japan CPI.
👉🏽 3,200 venture-backed U.S companies have gone out of business in 2023 Collectively they raised $27.2B in venture funding.
👉🏽The stock market is near all-time highs with:
1. Core inflation is still at 4%, double the Fed's target
2. The Fed beginning to backtrack on its "pivot"
3. Markets expecting 6-8 rate CUTS in 2024 while the Fed expects 3
4. The $VIX is trading at its lowest since 2020
5. US interest expense on track to top $1 trillion in 2024
The stock market seems to be disconnected from the economy and reality. Remember, the financial economy and the real economy are two different beasts.
👉🏽 https://twitter.com/lopp/status/1736397634925949114
What do we learn from this?
1. $1.45B in legal fees
2. Bankruptcy lawyers are the real criminals. the greatest legal scam on record.
3. FFS! Please self custody your Bitcoin, this is the way!
🏦Banks:
👉🏽no news
🌎Macro/Geopolitics:
👉🏽Last week the Federal Reserve kept the rates unchanged! Significantly lower inflation forecast!
SUMMARY OF FED DECISION (12/13/23):
1. Fed leaves rates unchanged for third straight meeting
2. Fed says the growth of the economy "has slowed" since Q3 2023
3. Most Fed officials see interest rate cuts in 2024
4. Median projection shows 3 rate cuts in 2024
5. Fed sees 4.1% unemployment by the end of 2024
6. The Fed sees US GDP growth at 2.6% in 2023 and 1.4% in 2024.
The market is pricing in double the number of rate cuts in 2024 than the Fed projects.
Here you can find a more in-depth summary of Powell's speech: https://twitter.com/macro_dose/status/1735049579425370605
The Fed admitted they're going to cut. They blinked and said the silent part out loud, right?
The first comment after the blackout ended was by NY Fed President Williams. He said the Fed is NOT talking about rate cuts now. This is the exact OPPOSITE of what Powell said on Wednesday. To make it even more funnier. Fed member Bostic sees only 2 rate CUTS in 2024 and expects cuts to begin in the third quarter. This comes just hours after NY Fed President Williams said the Fed "isn't really discussing rate cuts."
The Fed messed up.
What is a Fed blackout? It's a period of time around Fed meetings where Fed members are restricted in speaking about Fed policy. This is designed to limit conflicting messages and market confusion around Fed meetings. The blackout period ended yesterday at midnight. (15th of December)
Please have a look at the following tweets. It will show you how the global base ledger is managed in the 21st century.
https://twitter.com/LynAldenContact/status/1735673431662739593
https://twitter.com/WalkerAmerica/status/1735060271712858187
If you are lazy and not checking the links above, to sum it up:
"The Fed Since November 1st:
1. Nov. 1: Getting inflation to 2% "has a long way to go"
2. Nov. 21: "No indication of rate cuts at last meeting"
3. Dec. 1: Talks about rate cuts are "premature"
4. Dec. 1: "We are prepared to tighten policy further" if needed
5. Dec. 13: Rates have peaked, 3 rate cuts coming in 2024
6. Dec. 15: Fed "isn't really talking about rate cuts"
I thought the Fed could not embarrass themselves anymore. Yet they keep surprising me.
I hope we will get a global base ledger like this:
(picture Bitcoin Insurance Schedule)
👉🏽"The current gap between the "price" and "value" of many things in many minds is at/near the widest in history.
For example, if $AAPL dropped by 50% it would be still worth more than the entire German or French market. That’s just one company out of many vs. former European heavyweight countries. The failed experiment called Euro makes out 57% of DXY."
https://twitter.com/LukeGromen/status/1735711892213997850
Compared to before the pandemic, real wages in Germany have fallen by 7.2%, in Italy even by 9.1%. In comparison, real wages in the US have grown by 2.8% (over q3-2019/q3-2023).
👉🏽 President @JMilei of Argentina signed an executive order on his first day in office to cut 21 government departments down to 9. Reducing bureaucracy and government is the model to succeed as a society. Smaller governments are better for growth, liberty, and overall well-being.
His official signature in the inauguration book says: ''VIVA LA LIBERTAD CARAJO'' English translation: "Long Live F*cking Freedom"
" Argentina's President Javier Milei announces currency devaluation by 54% and spending cuts in an effort to revive the economy. The new exchange rate has been adjusted to 800 Argentine Pesos per US dollar. Spending cuts include suspending public works, cutting subsidies on transport and energy sectors, and more. Their economy minister said Argentina has an “addiction” to fiscal deficits." - TKL
https://twitter.com/samcallah/status/1734717431711404280
👉🏽"Central banks are on pace to buy over 1,000 tons of gold in 2023. This would be the second-ever year with 1,000+ tons purchased with 2022 being the first. Purchases of gold are 2.5X larger than purchases in 2021 and 4X larger than purchases in 2020. Currently, central banks hold just 20% of their reserves in gold. Historically speaking, central banks hold ~40% of their reserves in gold on average. Are central banks bracing for a massive gold-buying spree?" - TKL
Bitcoin is the best protection from the falling purchasing power of the dollar, (and every other fiat currency), ongoing for 110 years and likely to continue. Central banks seem to be betting on this trend continuing and, perhaps, accelerating.
(picture gold)
There is no alternative. With US debt-to-GDP at 985 today and on pace to triple by 2050. Not my words, but by the CBO (Congressional Budget Office). (picture CBO)
👉🏽 https://twitter.com/WallStreetSilv/status/1736575595645927464
The US added another $2.6 trillion of debt between June 2023 and December 2023. $31.4 trillion to $34 trillion now. The rate of growth in the US national debt is accelerating into a hockey stick chart and nobody in Washington DC is even talking about it.
And some fin-influencers are still trying to downplay this? The money in your bank account is losing its value, FAST!
"While you were sleeping, the US added $12 billion to the national debt. A person making $100k per year and paying zero taxes would have to work for 120,000 years to reach $12 billion. And they can print it with a snap of their fingers.
Opt out: Bitcoin"- Mitchell
🎁If you have made it this far I would like to give you a little gift.
I want to share this episode of Bitcoin Fundamentals where @PrestonPysh and @sebbunney discuss 'The Hidden Cost of Money,' exploring money's deep impact on society, politics, and mental health in a revealing interview.
I just listened to this for the second time.
I can say hands down that this was the best explanation of current economics, the monetary system, and our overall societal situation I have yet heard and the fact that it is presented in a way that is understandable to almost all makes it even more valuable. Seb Bunney is very good at making Bitcoin easy to understand, and how Bitcoin changes everything!
https://link.chtbl.com/BTC160
or watch it on YouTube: https://www.youtube.com/watch?v=JoxqSbwWx-c
Credit: I have used multiple sources!
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @Relai 🇨🇭 especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.
⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It's that simple.
⠀⠀⠀⠀⠀⠀⠀⠀
Is this post helpful to you? If so, please share it and support my work with sats. #zap 🧡 #weeklyrecap #nostr #plebchain #grownostr #stacksats
https://void.cat/d/UH5NHmsdgnp3SYzheSRBsx.webp
https://void.cat/d/KKUwtzYWKiKxTQsgMHKmeJ.webp
https://void.cat/d/RBdiyk3ZcvbmVKKzKTbbVA.webp
https://void.cat/d/6SvwTJ94p5KSy5gEPykkLR.webp

2023-12-17 13:05:11

- reply

Thanks mate!🧡

2023-12-16 22:08:23

Great day!
1. New merchant on our list. This morning I had a meeting with a business owner /entrepreneur here in Zwolle. Starting from early January, it will also be possible to pay with Bitcoin.
2. Translated my Peach review from 🇳🇱➡️🇬🇧: https://cryptofriday.eu/index.php/2023/12/16/review-peach-bitcoin-buying-non-kyc-bitcoin/
3. And finally I wrote and published a new Relai guide: how to setup & use @npub1sqz…vk7v
https://cryptofriday.eu/index.php/2023/12/16/relai-bitcoin-investment-app-step-by-step-guide-english/
Proof of work🧡😏
Study, learn, hodl, decouple.
#bitcoin 🧡
▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: The @Relai 🇨🇭 app is especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (guide) and video for more info.
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node... be your own bank. Not your keys, not your coins. It’s that simple.
Do you want to know more about this? Check out my daily stories on Instagram. (yeah I know IG sucks🥴)
Is this post helpful to you? If so, please share it!🧡
If you have any questions, let me know in the comments or send me a DM!⬇️
▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃
Like my content?🙏🏽
Please consider dropping some sats, following, comment✅
⭐ Many thanks⭐
Felipe - Bitcoin Friday!
▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃
#zap 🧡 #nostr #plebchain #grownostr #stacksats #bitcoineducation #adoption https://image.nostr.build/cd8d8e35dec1b45f263bb9ae273bcc99eb5cb99b9eb47dc30ada40fadb7f73c6.jpg

2023-12-09 12:19:39

New blogpost online:
@npub1sqz…vk7v review, both in English & Dutch.
https://cryptofriday.eu/index.php/2023/12/09/relai-review-best-for-buying-bitcoin-in-europe/
Study, learn, hodl, decouple.
#bitcoin 🧡
▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: The @Relai 🇨🇭 app is especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post and video for more info.
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node... be your own bank. Not your keys, not your coins. It’s that simple.
Do you want to know more about this? Check out my daily stories on Instagram. (yeah I know IG sucks🥴)
Is this post helpful to you? If so, please share it!🧡
If you have any questions, let me know in the comments or send me a DM!⬇️
▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃
Like my content?🙏🏽
Please consider dropping some sats, following, comment✅
⭐ Many thanks⭐
Felipe - Bitcoin Friday!
▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃
#zap 🧡 #nostr #plebchain #grownostr #stacksats #bitcoineducation #adoption

2023-12-08 12:16:42

I just talked with a nocoiner, topics:
Unit bias (I am too late)
Shitcoins
Want to get rich quick
Saw a video online - the government will ban Bitcoin
Proof of Work vs. PoS🥴
And so on💀💀
HFSP,
Ffs!
▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃
#zap 🧡 #nostr #plebchain #grownostr #stacksats #bitcoineducation #adoption https://image.nostr.build/85cdc182a0f835d8a70250b8f78c1f1f71c47d111579197467116f66a43e4d82.jpg

2023-12-04 20:36:52

🧠Quote(s) of the week:
Nayib Bukele (President El Salvador:
"El Salvador's Bitcoin investments are in the black! After literally thousands of articles and hit pieces that ridiculed our supposed losses, all of which were calculated based on Bitcoin’s market price at the time... With the current Bitcoin market price, if we were to sell our Bitcoin, we would not only recover 100% of our investment but also make a profit of $3.620.277.13 USD (as of this moment). Of course, we have no intention of selling; that has never been our objective. We are fully aware that the price will continue to fluctuate in the future, this doesn’t affect our long-term strategy. Nonetheless, it is important that the naysayers and the authors of those hit pieces take back their statements. The responsible thing to do would be for them to issue retractions, offer apologies, or, at the very least, acknowledge that El Salvador is now yielding a profit, just as they repeatedly reported that we were incurring losses. If they consider themselves true journalists, they should report this new reality with the same intensity they reported the previous one. We’ll see… Stay tuned!"
🧡Bitcoin news:
➡️ "Warren Buffett has called Bitcoin "rat poison squared" and stated that "it is an asset that creates nothing". On the 3rd of December, the market capitalization of BTC surpassed that of his company, Berkshire Hathaway." - Mark Harvey
➡️ The president of Colombia met with Samson Mow and Jan3 to discuss how Colombia can adapt. "can be promising for the prosperity of the people."
➡️ Samson Mow, Jan3, and fellow Noderunner Maya told the country's press the Government of Suriname and JAN3, are exploring ways to boost Bitcoin usage. They're even considering converting 1% of the central bank's reserves into Bitcoin. Outcome? A potential safeguard against inflation and a new economic boost.
➡️ Over past 4 years:
👉🏽Hashrate ⬆️475%
👉🏽Price⬆️163%
👉🏽Total users⬆️289%
👉🏽Emissions⬇️by -9.4%
Bitcoin is the only industry in the world that has decoupled emissions growth from user and network growth.
➡️Great response by RFK Jr on what brought Bitcoin to his attention "If the government can punish you by shutting down your bank account without even charging you with a crime, they have the ultimate power to turn us into slaves."
Full interview: https://www.youtube.com/watch?v=TceuggOE-EI
➡️$1.5 trillion Franklin Templeton filed an update to its Bitcoin ETF application. After that, the SEC opened a 21-day window for public comment on Franklin Templeton's proposed Bitcoin ETF.
On top of that, the SEC decided to delay two other Bitcoin ETF applications, which is “likely a move to line every applicant up for potential approval by Jan 10, 2024” - Bloomberg ETF analyst James Seyffart
I will quote The Bitcoin Therapist on this one: "The SEC is really about to approve a Bitcoin ETF at the same time the Federal Reserve is about to pivot at the same time the FASB accounting rules will be applied at the same time the halving is about to take place all during a presidential election."
➡️ Jack Dorsey funds a $6.2 million initiative OCEAN to decentralize Bitcoin mining globally with a transparent, non-custodial mining pool.
➡️ A solo Bitcoin miner with only 2 PH just won a block reward worth 6.25 BTC ($230,000). A miner this size solves a block on average only once in every 5 years! Madness
➡️Relai has partnered with Swissquote Bank, the Swiss leader in Online Banking providing online banking and trading services. This partnership means everything from banking to exchange aspects at Relai is now under one roof – 100% made in Switzerland. Swissquote is the perfect partner due to its unparalleled reputation in secure online financial services, aligning perfectly with Relai’s commitment to offering a trustworthy and efficient Bitcoin investment experience.
For more info: https://relai.app/blog/relai-and-swissquote-partnership/
➡️A new working paper co-authored by former ERCOT & NYISO CEO highlights Bitcoin mining as a critical tool for clean energy and balancing the grid.
Abstract: “This review examines the role of Bitcoin mining as a possible catalyst for accelerating the global shift towards clean energy and effective power grid management."
Conclusion: “In the rapidly evolving realm of energy systems and grid management, the significance of DR and flexible load resources is more pronounced than ever. Our review highlights the emergence of Bitcoin miners as a potentially unique and adaptable load category. With their innate interruptibility and swift response capabilities, these miners may offer revolutionary potential for grid flexibility." - Dennis Porter
You can read the full paper here: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4634256
In the upcoming days, I will publish my blog post on Bitcoin and energy (mining), so stay tuned.
➡️ If you had invested $50 per day into the following assets over the past 9 years, this is how much you would have:
👉🏽Bitcoin: $4,580,000
👉🏽Tesla: $635,000
👉🏽Dow Jones: $233,000
👉🏽Gold: $222,000
After investing a total of $164,300 over the past 9 years, deciding to DCA daily into Bitcoin was your best decision by an order of magnitude.
➡️Since Halloween, a particular Bitcoin address has amassed 8,674 BTC, equivalent to $323 million. Moreover, they've consistently added 1,000+ Bitcoin to their holdings for the past three consecutive days. This was on the 26th of November.
➡️ "A user recently made headlines for an eye-watering mistake, unintentionally paying a staggering $3.1 million in transaction fees for a transfer worth $2.1 million. On November 23, an unsuspecting Bitcoin user, utilizing the address “bc1qn3d7vyks0k3fx38xkxazpep8830ttmydwekrnl” initiated a transaction to transfer 55 BTC to another address.
However, what should have been a routine transaction took a drastic turn when an astronomical fee of 83 BTC, equivalent to approximately $3.1 million, was attached to the transfer." - BitcoinNews
Always, ALWAYS check the receiving address and the fees.
💸Traditional Finance / Macro:
👉🏽Week ahead: In the US, non-farm payrolls, ISM services, and the University of Michigan sentiment survey. In Europe, it’s the euro area Sentix survey and wage data, the ECB consumer inflation expectations survey, and the UK’s REC Report on Jobs survey. In Asia, with China CPI, Tokyo CPI, and the RBA policy decision
"The S&P 7, also known as the 7 largest tech stocks in the S&P 500, is up a massive 80% in 2023. Meanwhile, the S&P 493, or the remaining 493 companies in the S&P 500, is up just 4%. In other words, the S&P 7 is up 20 TIMES as much as the S&P 7. A few key stocks have become the entire market. The fate of the stock market is in the hands of tech companies and AI hype." -TKL
🏦Banks:
👉🏽UNREALIZED losses US Banks Up 22% to USD 683.9 billion in Q3! We'll need BTFP 2 soon, Jerome. Let's just change it to the Bank Forever Funding Program (BFFP) to make things simpler.
"Unrealized losses on investment securities held by US banks hit $684 billion in Q3, according to the FDIC. This marks a 22.5% jump compared to unrealized losses seen last year. The jump was primarily driven by rising mortgage rates reducing the value of mortgage-backed securities held by banks. Despite these challenges, the FDIC states that banks remain "well capitalized." This comes as usage of the Fed's emergency funding facility for banks hit another record high of $114 billion." - TKL
See picture below.👀
🌎Macro/Geopolitics:
👉🏽The US National Debt has increased by $2.36 TRILLION since the debt ceiling was suspended in June. Everything is just fine, in just 5 freaking months...5!
It’s simple … We use a DEBT-based monetary system. The debt-based monetary system requires that debt always grows. Countries and people must become deeper in debt so that there's more money in the system. More money in the system increases the total money supply. Increased money supply leads to higher Inflation. To have a growing economy we need more DEBT (debt = money *from a different perspective). Having more DEBT = high INFLATION. Using that DEBT system, the INFLATION must go only up.
The US unfunded liabilities today on the 3rd of November just surpassed $212 TRILLION.
Do you get the picture? Opt out; Bitcoin
If you don't believe well listen to what Jamie Dimon (CEO of JP Morgan) has to say on this topic:
Jamie Dimon says: "The U.S is addicted to debt and it’s created a dangerous “sugar high” in the economy. He points to the enormous surge of new debt taken on during the pandemic He says that money is like "heroin" in the hands of consumers "We're on this sugar high and I'm not saying this ends in a depression [but] I think there's more inflationary forces out there…There's a higher chance that rates go higher, inflation doesn't go away, and all these things cause more problems of some sort."
Take this with some salt as Jamie is the heroin dealer in this analogy. You know we're on thin ice in the credit cycle when the pusher starts to complain about the drug he has been the prime beneficiary of, caveat emptor.
But he, Dimon, has been warning of this for some time! Also, Ray Dalio has expressed this for some time.
Oh well, probably nothing. Go on son...watch some sport or Netflix and stay in the rat race called life.
Do you get the picture? Opt out; Bitcoin
👉🏽 I quote Sam Callahan: "Bloomberg shared some evidence of the cost of living crisis many Americans face today. Since 2020:
Groceries: +25%
Home Values = +42%
Electricity Bills = +25%
Natural gas = +29%
Rent = +20%
Used Car = +35%
Car Insurance = +33%
Child care = +32%
Food at restaurants:
Chicken dishes = +32%
Burgers = +23% Pasta = +14%
Pizza: = +17%
Meanwhile, instead of addressing the problem, the government is worsening it and choosing to gaslight the public by saying this Thanksgiving was the "fourth cheapest ever."
source: https://www.bloomberg.com/graphics/2023-inflation-economy-cost-of-living/
👉🏽"New home prices just crashed by the largest amount on record, down 18% over the last year. According to Reventure, this is the biggest annual decline back to 1965. Even in the worst month of the 2008 financial crisis, the biggest decline was 15%.
The worst part?
New home prices are still up ~24% from their pre-pandemic levels. As mortgage demand hits its lowest since 1994 and affordability is at all-time lows, builders are in trouble. The average selling price for a new home is down almost $90,000 since last year. How can this end well?" - The Kobeissi Letter
👉🏽Deutsche Bundesbank cuts German 2024 GDP forecast by a whopping 0.5ppts to -0.2% due to the budget crisis following the Constitutional Court hearing.
"The state pension is looking increasingly shaky. The federal govt now has to contribute more than €100bn a year. And the fact that the introduction of the so-called equity pension, i.e. the funded pension, has now also been postponed does not make things any easier."
"There was a statement last year by the president of the Confederation of German Employers’ Associations: “Germany’s pension system is “on the verge of collapse. It won’t be financially viable in five years without reform. The costs will explode” Labor shortages, an aging population, and lower productivity - are all material factors for the viability of this system"
Germany is the sick man of Europe. This is going to be a massive issue in so many countries, not only in Germany.
👉🏽"German inflation sinks more than expected as energy retreats & costs of fuels & travel fell sharply from the prior month. Headline CPI slows to 3.2% YoY in Nov from 3.8% in Oct & vs 3.5% exp. Food inflation slowed to 5,5% from 6.1%, Core CPI dropped from 4.3% to 3.8%, so a long way to go to the 2% goal." - Hilger Zschaepitz
👉🏽https://twitter.com/POTUS/status/1726257145551654981
See picture below how that is working.
- Bye-bye "recession", Hello "soft landing" The mainstream coverage has shifted its narrative fast towards a soft landing, which makes me worried ahead of 2024.
👉🏽Nigeria will spend at least six times more on servicing its debt next year than on building new schools or hospitals.
This debt trap has been proudly brought to you by the IMF and World Bank, thanks for the help and playing. You would think that a major oil-production nation like Nigeria could fight out of this debt trap...
If you have made it this far I would like to give you a little gift.
I want to share Michael Saylor's keynote at @labitconf discussing economic wars, the power behind Bitcoin, why Bitcoin is destined to be the apex commodity, technology, property, money, & ETF asset, winning & losing investment strategies, management of counterparty risk, & capital markets digital disruption.
Click on the link and watch the 50min video:
https://twitter.com/saylor/status/1731088400025850201
Credit: I have used multiple sources!
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @Relai 🇨🇭 especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.
⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It's that simple.
⠀⠀⠀⠀⠀⠀⠀⠀
Is this post helpful to you? If so, please share it and support my work with sats.
#zap 🧡 #nostr #plebchain #grownostr #stacksats #bitcoineducation #adoption #weeklyrecap https://image.nostr.build/e11763907844e6858c63bf9b3e7689fd23ad815f252e7fdc4b80dc44ba72d7e4.jpg https://image.nostr.build/2109be29a813ff9626c062555dd17e071290e31a8a718a1b1c008886ba477d7f.jpg https://image.nostr.build/e561d44c0d1667b79d165e223ddede91063261ba84694f9a073801c6bfee9bda.jpg

2023-12-01 17:56:53

Today we had an interview on the local radio station (Radio Zwolle - Bijna Weekend) talking about Bitcoin and our group Zwolle Bitcoinstad.
It is in Dutch but if you want to listen to the full interview:
https://dutchbtc.ddns.net/zwolle.mp3
It’s Bitcoin 101 stuff as the host had 0 knowledge.
*You can skip the first 13min
Block by block!🧡
#zap 🧡 #nostr #plebchain #grownostr #stacksats #bitcoineducation #adoption

2023-11-27 21:45:14

🧠Quote(s) of the week:
"Politics is only a control structure on top of manipulated money." - Jeff Booth
"There is an uncanny historical justice aspect to Bitcoin where generally speaking, the less financially privileged you are, the faster you understand how useful it is. The more financially privileged you are, the slower you understand how useful it is." - Alex Gladstein
🧡Bitcoin news:
➡️ Last Saturday we held in my hometown the last Bitcoin meetup in 23'.
The message is in Dutch. “Thank you very much for the warm and friendly welcome and all the information I received today!! I found it very educational and will continue with my Bitcoin "study". Greetings”
This is why we do what we do. This is why I am creating content!
On Friday I will be live on the local radio station (Radio Zwolle - Bijna Weekend) talking about Bitcoin and our group Zwolle Bitcoinstad.
➡️ Bitcoin hashrate hits an all-time-high, surpassing 500 exahash per second (EH/s).
https://twitter.com/danieleripoll/status/1728486701490942427
➡️ "Plebs who started daily DCAing Bitcoin at the all-time-high 748 days ago are now officially in profit +40%" - Wicked
➡️Wallet of Satoshi, a Bitcoin wallet app known for its focus on Lightning Network usability, has decided to remove its app from the U.S. Apple and Google app stores and will no longer serve U.S. customers.
WHY? WoS needs to comply with local regulations or laws in ways that it cannot, or doesn't not want to.
It still works, but if you lose your phone you can't re-download the app. No rugpull, just tech degradation driven by regulations. US residents should get their coins off of WoS.
Great work US. Land of the free, home of the brave.
This is exactly the reason why you should use a non-custodial app/wallet! The regulatory squeeze in the U.S. continues to get tighter.
➡️Changpeng Zhao (CZ) resigns as Binance CEO and faces up to 18 months in prison as part of his plea deal with the US Government. He pleads guilty to violating criminal anti-money laundering requirements.
$1.3 billion in user funds withdrawn from Binance following US Government indictment.
➡️"Since Halloween, a particular Bitcoin address has amassed 8,674 Bitcoin, equivalent to $323 million. Moreover, they've consistently added 1,000+ Bitcoins to their holdings for the past three consecutive days." - Bitcoin News
➡️ "Cornell University (world rank #13) just covered a new paper that suggests what Bitcoin mining companies have been saying for years: Bitcoin mining helps solar developers generate more profits that can be invested in future renewable energy projects" - Daniel Batten
Source: https://news.cornell.edu/stories/2023/11/bitcoin-could-support-renewable-energy-development
Bloomberg, Forbes, TVNZ, MSN, Financial Times, The Hill, The Independent (Ireland), Euro News, Technology Review, One Green Planet, Yahoo Finance +, and other mainstream media all published positive press on the environmental benefits of Bitcoin mining this year!
Probably nothing!
BUT, ask yourself why is the narrative shifting. Is it because they now fully understand that Bitcoin is something positive for society OR..more like BlackRock will list an ETF...
- Bitcoin mining is expanding in Argentina British firm FMI Minecraft plans a $45M crypto farm in Patagonia There will be no taxes to import ASICs or anything else, thanks to the mine’s proposed location within a free trade zone.
➡️"Bitcoin has risen ~119% since the beginning of 2023. At the same time, 70% of all coins have not moved in over a year, a new record high. This suggests that a large majority of the outstanding supply will only start moving if the price increases many multiples higher." -Unchained
Or to put it slightly differently, despite a 126% performance over the last year. Once you understand Bitcoin, you aren’t selling!
➡️ Former NYSE President: “Money will flood into the industry with a Bitcoin ETF, it’s just easy to buy.” “Bitcoin is a great invention. It is a store of value.
➡️ The Kingdom of Bhutan has secretly spent millions building a national Bitcoin mining operation to avert “economic crisis” - Forbes
➡️A Bitcoin whale unloaded 636 BTC ($23.46M) just before the US Department of Justice revealed significant crypto enforcement actions on the 21st of November.
➡️ Hillary Clinton DOES NOT want you to own Bitcoin because it undermines the "rope of the dollar".
Watch the clip here: https://twitter.com/hoardingsats/status/1726720299675390456
This is exacly why Bitcoin was created.
I quote Preston Pysh on this one:
"What's ACTUALLY undermining the role of the dollar is all the people in Congress who continuously decide to spend beyond our tax revenues (voting money into their districts with no term limits).
ALSO,
Government bureaucrats that have never served a day in the military but suggest we can afford another few wars while already fighting two proxy wars (which were never even voted for in the first place). That's what's undermining the dollar! Bitcoin is simply the pristine mirror that ALL governments get to view their violent and self-serving policies through. Enjoy the view"
The funny part on this matter is that some people in the US government do get it, for example:
US Presidential candidate Vivek Ramaswamy:
"The problem isn't that they [the US govt] don't know what Bitcoin represents, it's that they do and that's actually what creates the anaphylactic response"
OR, Senator Cynthia Lummis explains that in the future Bitcoin will be the apex-saving technology. She believes it will serve as a global reserve currency amongst a basket of goods.
➡️U.S. Securities and Exchange Commission classifies altcoins as securities in Kraken lawsuit.
The following tokens are listed:
- Solana (SOL)
- Cardano (ADA)
- Polygon (MATIC)
- Internet Computer (ICP)
- Cosmos (ATOM)
- Algorand (ALGO)
- Sandbox (SAND)
- Decentraland (MANA)
- Chiliz (CHZ)
➡️Argentina has become the first G20 nation to elect a pro-Bitcoin President, Javier Milei.
“With legal tender, they scam you with the inflationary tax… Bitcoin is the natural reaction against central bank scammers; to make money private again.” - Javier Milei, President of Argentina
Ergo:
- Central Banks are a scam.
- Bitcoin returns money to the private sector.
“Today is the end of Argentina’s decline” - Milei With 143% inflation and 950 pesos to the dollar, I really hope he's right. A few years ago, nobody expected El Salvador to become the safest country in Latin America. Time for an economic turnaround in Argentina! Buena suerte Javier" - StackHodler
Although through a Bitcoin lens, this is a great step for Argentina. But life itself is not only Bitcoin. For example, Milei's views on abortion are (in my opinion) concerning. He opposes it even in the case of rape. I can’t square that with his views on other freedoms.
I hope he makes good changes for Argentina. They have suffered enough from a bad monetary policy from their Central Bank in conjunction with the debt trap by the IMF.
Talking about the IMF and Argentina:
https://twitter.com/Excellion/status/1726716583551414472
➡️ "Joana Cotar, a member of the German Bundestag, federal parliament, has recently declared her support for recognizing BitcoinBTC 0.0% as legal tender in Germany. This revelation came to light during an interview, where Cotar discussed her ambitions to bring Bitcoin into the mainstream of German finance."
https://www.forbes.com/sites/digital-assets/2023/11/17/bitcoin-as-legal-tender-joana-cotar-of-german-bundestag-proposes-groundbreaking-legislation-in-germany/
Why is this so important?
https://twitter.com/skwp/status/1726387239305842745
I will quote Alex Gladstein (Human Rights Foundation): "It would be hard for the IMF to exist in a world with one universal currency The IMF needs a currency caste system to execute: -Discounts on exports via currency devaluation -Lending in dollar-denominated debt -Privileging dollar-based foreign megacorps Bitcoin fixes this
💸Traditional Finance / Macro:
Week ahead: In the US, we have the Fed Beige Book, core PCE inflation data, jobless claims, and the November manufacturing ISM report. In Europe, the highlight will be flash inflation data for the euro area, UK lending data, and euro area unemployment. In Asia, we have the RBNZ, Bank of Thailand, and Bank of Korea meetings, Japan industrial production and unemployment data, India GDP, China PMI, and Australia and Indonesia CPI inflation data.
"CEOs at JP Morgan, Blackrock, Amazon, Apple, and now Facebook are dumping large amounts of shares in their own companies. China is dumping U.S. Treasuries at the fastest pace in 3 years while the Japanese are offloading US Corporate bonds at the fastest pace in recorded history."
"A few days later also former Chairman of Walmart has dumped $336.7 million of Walmart shares, continuing the recent trend of high-level executives offloading shares in their own companies" - Ben Rickert
Is it a planned sale? Any particular reason for the inside selling? Interesting to see how this will unfold in the upcoming weeks/months.
🏦Banks:
👉🏽Argentina President Javier Milei confirms he will shut down the Central Bank.
🌏Macro/Geopolitics:
👉🏽 "US consumer inflation expectations for the next five years jumped to 3.2%, matching the highest level since 2008!
US Consumer inflation expectations are on the rise. They increased to 4.5% for the next 12 months, which is very high from a historical perspective. Add to this that Powell's (former) CPI darling - 3-month annualized Core Services ex Shelter - hit 5.5% in October to understand that the FederalReserve cannot give up on its 'higher for longer ' narrative just yet".- Jeroen Blokland
https://twitter.com/SecYellen/status/1726702716108640678
Like always in politics, they will kick the can down the road. They have no intention to reign in on fiscal overspending.
Even if they will reach their goals, what will that do? Nothing, maybe just pay the interest..
The US is literally paying $1,000,000,000,000 just in interest every year!!!!
When she says "reduce the deficit by $1 trillion over the next ten years", she really means reduce the growth in the deficit from some imaginary number we projected.
read the following tweet:
https://twitter.com/PrestonPysh/status/1726809611976769749/photo/1
👉🏽Now we know for real, the truth has been revealed. Sen. Warren:
“Let’s do a central bank digital currency … I think it’s time for us to move in that direction.” Amid Sen. Warren’s moralizing on crypto money laundering, never forget what her ultimate goal is: the destruction of Bitcoin to make way for a CBDC. Warren is usually effective at hiding her true intentions. But on this rare occasion, she let her guard down—and she could barely contain her excitement at the prospect of a CBDC.
See for more info the great tweet by Sam Lyman:
https://twitter.com/SamLyman33/status/1727327677399400893
Politicians will push for a CBDC. It's all about control. Politicians are not against Bitcoin, they are against not government-controlled Bitcoin...crypto...whatever you want to call it.
James Lavish": CBDCs are a bridge for the government to cross from taxing your earnings to overseeing and controlling every single penny you earn *and* spend. Forever."
No matter if it is the ECB, the FED, the BoJ, the BoE, or China's CBDC...it will enable unelected technocrats to program how, when, where, on what, and by whom it can be spent, including the imposition of social credit, carbon allowance, etc.
It's coming.
Opt-out: Bitcoin
👉🏽Check out the CBDC tracker by the Human Rights Foundation.
The Tracker will go online for the first time, providing the public with a resource to examine the progress and risks of CBDC implementation worldwide.
It shows you information on each country's central bank digital currency project.
HRF believes CBDCs pose a significant threat to human rights work worldwide, especially for people living under tyranny. More than 100 countries are researching CBDCs, while more than 20 have pilots, and a handful of governments have already launched some kind of retail product.
Source: https://hrf.org/hrf-to-launch-cbdc-tracker-on-nov-14-in-d-c/
Tracker: https://cbdchumanrights.org/home
Absolutely a must-have tool in your toolkit and an invaluable resource to share with friends and family!
Digital identity and CBDC pose a severe risk to human rights and have the potential to limit individual freedom.
👉🏽China's major shadow bank Zhongzhi declares 'severe insolvency' with a $36 billion shortfall, signaling liquidity problems in the $2.9 trillion Chinese shadow banking sector. Known for real estate investments, Zhongzhi attributes the deficit to internal management issues facing operational risks. The crisis further highlights instability in China's real estate market, raising concerns of possible contagion effects. Source: El Pais
What is the love of god is 'severe insolvency'. You are either insolvent or not.
🎁If you have made it this far I would like to give you a little gift.
The November newsletter by Lyn Alden, in which she is discussing how emerging monetary technologies have the potential to disrupt the existing global financial system over the long term.
read here: https://www.lynalden.com/november-2023-newsletter/
Credit: I have used multiple sources!
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @Relai 🇨🇭 especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.
⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It's that simple.
⠀⠀⠀⠀⠀⠀⠀⠀
Is this post helpful to you? If so, please share it and support my work with sats.
https://void.cat/d/2RTD7Rb4rgT4QRjWzDawZr.webp
https://void.cat/d/PQdKd9FHes4gknj9NWjvWb.webp

2023-11-26 09:01:10

Last meetup 23’ - Zwolle Bitcoinstad
The message in Dutch:
“Thank you very much for the warm and friendly welcome and all the information I received today!! I found it very educational and will continue with my bitcoin "study". Greetings”
This is why we do what we do. 🧡
Next Friday we will be live on the local radio station (Radio Zwolle - Bijna Weekend) talking about Bitcoin and our group Zwolle Bitcoinstad.
Block by block!🧡
#zap 🧡 #bitcoinmeetup #nostr #plebchain #grownostr #stacksats #bitcoineducation #adoption https://image.nostr.build/71a299a013f874ca8394d39de3225f2b7554dd42cfa3777c67c320baf69fdd10.jpg https://video.nostr.build/bd897a688a86e2c47c1196850f19b6082f34fa2e3186e727c0fce9be9e05c9b6.mp4

2023-11-22 22:08:55

New Record #Bitcoin Hashrate
470,000,000,000,000,000,000x per second.
The beauty of the protocol. Some countries will ban it, while other countries will benefit of that ban.
Bhutan has been mining #Bitcoin since 2019 and has secretly spent millions building a national Bitcoin mining operation to avert “economic crisis”.
On top of that we received the news that: “Bitcoin mining is expanding in 🇦🇷 Argentina 🙌
British firm FMI Minecraft plans a $45M crypto farm in Patagonia.
There will be no taxes to import ASICs or anything else, thanks to the mine’s proposed location within a free trade zone.”
Hello game theory 🧡👀
Is this post helpful to you? If so, please share it and support my work with sats. #zap 🧡 #weeklyrecap #nostr #plebchain #grownostr #stacksats https://image.nostr.build/7781d96d3ffb4520a43b585ea61625030e75e74599fc80c0c5b3b2c804efad3c.jpg

2023-11-20 22:00:12

🧠Quote(s) of the week:
"Debt-based fiat currency system… Steal from the future for better living today.
Equity/saving-based Bitcoin monetary system… Build for the future for better lives for our children and grandchildren.
Which future will you choose?
I remain convinced that Bitcoin is better money for a better world." - Dr. Jeff Ross
"Fear is "unfortunately" an effective way to consolidate power. Hope is its antidote - and it's much stronger. because when people see themselves as part of a more hopeful future, they realize a sense of agency in creating it. Bitcoin" - Jeff Booth
🧡Bitcoin news:
➡️At the time, I am writing this blog post Argentina's presidential election is underway. Argentina could elect a Pro-Bitcoin President and it's poetic that Bitcoin is approaching yet another ATH in the Peso! Argentina is voting with its money.
It's quite astonishing to think that by the year 2023, a country as significant as Argentina (a G20 nation) now has a President who is a Bitcoiner.
Bitcoin has become so relevant that Presidential Candidates have no choice but to have a stance on it.
Gradually, then suddenly.
➡️For the first time, more than 70% of all Bitcoin has been HODLed for more than 1 year. Watch the animation made by Wicked here:
https://twitter.com/w_s_bitcoin/status/1726296303712587842
➡️ "64% of institutional investors currently invested in bitcoin and shitcoins plan to increase their exposure to crypto within the next three years, according to a Coinbase survey" - Bitcoin News
➡️Bitcoin halving is in ca. 150 days.
➡️Bitcoin held by addresses owning over 1,000 BTC hit a new yearly high this week, reaching 7.67 million Bitcoin.
Bitcoins hashrate is exploding!
No clue if this is due to the ordinal's madness or if a nation-state is entering the game.
➡️Across 6 critical metrics: Bitcoin is the world's best ESG asset (It's also one of the most misunderstood and prematurely evaluated).
source: https://batcoinz.com/the-bitcoin-facts-that-every-esg-investment-committee-should-know/
Remember the cry for PoS or climate hysteria surrounding Bitcoin mining? The truth will always ultimately shine through the dark clouds of misinformation. (Hello, Alex de Vries - GreenpeaceUSA). Many have tried to discredit Bitcoin on environmental grounds, but time has proven (as expected) wrong. Bitcoin is the best tech we have for green initiatives.
I can't get over the fact that Bitcoin mining allows anyone, anywhere in the world, to turn electricity into money. Add on that, inventing a peaceful internet protocol that aligns human incentives to reduce methane emissions. If that isn't revolutionizing, nothing is.
More on this topic...
➡️ Bitcoin miner, Stronghold, develops a cutting-edge carbon-negative, capture system.
How Felipe?
They’re blowing air through ash which captures carbon out of the air. Then they spread the ash on top of the area they took the waste coal from and grow ground cover.
https://t.co/2dXWQoa27A
Madness! I quote Margot Paez on this: "Bitcoin cleans up coal, stores CO2, and freedom money all rolled into one? Maybe not just a dream"
Bitcoin will innovate the conservation of energy game like nothing we could've ever imagined.
➡️ I think the most important thing I read last week was that an OpenAi agenda paid an LN invoice.
Basically: ChatGPT + Lightning Network...programs paying programs, sweet!
Bitcoin is the only money AI can utilize. Magic Internet Money. AI now has a platform on which to engage in trade and commerce.
"If you don't understand how revolutionary it is for AI to have access to a permissionless global finance system" Well start studying Bitcoin.
➡️Check out the CBDC tracker by the Human Rights Foundation. @npub1trr…hdpu
The Tracker will go online for the first time, providing the public with a resource to examine the progress and risks of CBDC implementation worldwide.
It shows you information on each country's central bank digital currency project.
HRF believes CBDCs pose a significant threat to human rights work worldwide, especially for people living under tyranny. More than 100 countries are researching CBDCs, while more than 20 have pilots, and a handful of governments have already launched some kind of retail product.
Source: https://hrf.org/hrf-to-launch-cbdc-tracker-on-nov-14-in-d-c/
Tracker: https://cbdchumanrights.org/home
Absolutely a must-have tool in your toolkit and an invaluable resource to share with friends and family!
Digital identity and CBDC pose a severe risk to human rights and have the potential to limit individual freedom.
➡️Boyaa, a Hong Kong-based developer of online card and board games, is planning to acquire $45 million worth of Bitcoin to add to its balance sheet This move would position Boyaa as the 12th largest holder of Bitcoin among corporate treasuries.
➡️ Commerzbank claims the title of Germany's first full-service bank to secure a license for establishing a custody platform dedicated to Bitcoin and digital assets.
➡️ Galaxy Digital estimates $80 Billion to flow into spot Bitcoin ETF within 3 years of launch:
Year 1 - $14 Billion
Year 2 - $27 Billion
Year 3 - $39 Billion
➡️ Billionaire Bill Miller: "I haven't heard a good argument as to why you shouldn't have 1% of your liquid net worth in Bitcoin."
💸Traditional Finance / Macro:
👉🏽Week ahead: In the US, we have the FOMC minutes, durable goods orders, and the Thanksgiving holiday. In Europe, it’s the UK Autumn budget, European flash PMIs, and the Riksbank meeting. In Asia, we have the Japan, Singapore, and Malaysia CPI, Indonesia policy rate decision, and the RBA minutes.
🏦Banks:
👉🏽 no news
🌏Macro/Geopolitics:
👉🏽US Headline inflation dropped to 3.2% in October, lower than expected. Core CPI dropped to 4.0%, also lower than expected.
This was expected. Nobody could have foreseen that more money chasing the same amount of goods could have increased the price of goods. Now that M2 is shrinking (The Fed/M2 is behind inflation) CPI is getting lower and lower. I am shocked, NOT!
What's next? Deflation in the US is very possible.
CPI has made some progress catching up to real-world rents recently. Consumers now face rents 9.5% higher than what CPI implies, down from a peak distortion of over 15%.
"Lower rates of inflation in Fuel Oil, Gas Utilities, Used Cars, Gasoline, Medical Care, New Cars, Food at Home, Electricity, Apparel, and Food away from Home. Shelter and Transportation are the only major components that have a higher inflation rate today than June 2022." - Charlie Bilello
👉🏽Talking about rates: "10-year note yield falls sharply, to 4.49%, after CPI inflation hits 3.2% in October. The 10-year note yield is now down 20 basis points in 24 hours and 15 basis points since CPI was released. However, core inflation still stands at 4.0% which is DOUBLE the Fed's long-term target. So far, inflation has gone from 9%+ to close to 3% without a major spike in unemployment. The question becomes if the Fed can get 2% inflation with a similar outcome." - TKL
It seems like the Fed is done with raising rates.
👉🏽 "Annualized interest expense on US debt is now at $1.027 trillion and is quickly rising. Just 2 years ago, annual interest expense on US debt was at $450 billion. That's a 128% jump in interest expense and we haven't even entered a recession yet. Since 2020, total US debt is up ~$10 trillion and is set to hit $35 trillion in 2024. That's a ~45% jump in US debt and the Fed is still calling for a "soft landing." - TKL
Now let's have a look at the 'soft landing' stories on Bloomberg on the 15th of November.
https://twitter.com/jameslavish/status/1724828332058087607
The only thing I know is that history shows us that when we have soft landing hope we will get Hard Landing realities. This happened in 2000-2001, 2008 -2009
When all the experts and forecasts agree, most of the time something else is going to happen. The media reports a narrative. They are trying to get the soft landing story out as the Election year 92024) is coming up. This is probably the most bearish thing that's come across my timeline. Why? History!
https://twitter.com/LukeGromen/status/1724864270255427658
👉🏽RAY DALIO: "The
The US is at an inflection point concerning its national debt as it currently borrows money to cover its debt payments."
👉🏽"Auto loan and credit card interest rates just hit a new record high. Average interest rates:
- Credit Card: 25%
- Used Cars: 14%
- New Cars: 10%
Meanwhile, we have record levels of debt:
- Total Household Debt: $17.3 trillion
- Auto Loans: $1.6 trillion
- Credit Card Debt: $1.1 trillion
The worst part? Interest payments on $1.6 trillion of student loans restarted last month. If you want to buy a new home, or car and pay off student loans, it'll cost you ~$4,250 PER MONTH on average." - TKL
👉🏽The European real estate market is experiencing a downturn. Here's a comparison of price changes between Q2 2022 and Q2 2023, adjusted for inflation:
"Corrected for inflation (as it should), YOY real estate is down bad in Europe: FR-5%, NL -10%, GER -15%, SWE -20%." -Tuur Demeester
I have said in 2021 and I will repeat it again now. Just wait a couple of years and one Bitcoin will buy you an entire building.
👉🏽"An unprecedented $8.2T of US government debt will be maturing in the next 12 months, or 1/3 of the total Treasuries outstanding. That is 3.5x more than what was net issued so far this year. Keep in mind that the fiscal deficit next year would also require at least another $2T in addition to the $8.2T that needs to be re-issued." - Tavi Costa
The Everything bubble continues as long as fiscal can keep extending debt regardless of the Fed interest rate policy. More than 3x of the "COVID" printing is coming. Hello, debt spiral!
👉🏽 Presidential candidate Nikki Haley says every person on social media should be verified by their name because of "national security."
https://twitter.com/TFTC21/status/1724527075703341472
Anyway, Nostr fixes this!
👉🏽"Japan's economy shrank -0.5%, significantly more than expected. Q3 saw the worst decline since Q1 2022. This reduces the pressure on the Bank of Japan to adjust its still extremely loose #monetarypolicy and increases downward pressure on the Yen. Intervention coming?" - Jeroen Blokland
👉🏽US President Biden announced on the 14th of November $ 6 billion in new investments from the Inflation Reduction Act and the Bipartisan Infrastructure Law to make communities more resilient to climate change.
INFLATION REDUCTION ACT - CLIMATE CHANGE! ahahahahahahha
The government is spending more money to reduce inflation...right right? You can't fix a problem you don't understand!
👉🏽 Coin Center has published a new report that ought to turn some heads.
https://twitter.com/valkenburgh/status/1724800366548812224
👉🏽"EU cuts Eurozone 2023 GDP forecast to 0.6%, down from a Sep forecast of 0.8%. Sees 1.2% growth in 2024, a downward revision from 1.3%, and 1.6% in 2025." - Holger Zschaepitz
👉🏽In a recent interview the Dutch Central Bank (DNB) shared it has equalized its gold reserves, relative to GDP, to other countries in the eurozone and outside of Europe. This has been a political decision. If there is a financial crisis the gold price will skyrocket, and official gold reserves can be used to underpin a new gold standard, according to DNB.
"The Dutch Central Bank just said the thing CBs never say: the secret of their gold position lies in the fact that when the collapse happens, its value will automatically skyrocket. Next question: how much is enough BTC for a CB to have?"- Tuur Demeester
More on this topic: https://www.gainesvillecoins.com/blog/dutch-central-bank-admits-prepared-new-gold-standard
🎁If you have made it this far I would like to give you a little gift.
Some years I read a book that's so compelling I give it out as a present to family and friends. This is one of those years --- 'Broken Money' by @npub1a2c…w83a is a must-read to understand the world today. Read it and it will rewire your brain...order here https://amzn.to/3sAqBLB
Credit: I have used multiple sources!
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @npub1sqz…7vis especially suited for beginners or people that want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.
⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It's that simple.
⠀⠀⠀⠀⠀⠀⠀⠀
Is this post helpful to you? If so, please share it and support my work with sats. #zap 🧡 #weeklyrecap #nostr #plebchain #grownostr #stacksats
https://void.cat/d/VDhLSFuSgNDvUGttPSE4Vk.webp

2023-11-19 18:07:25

Freaking goosebumps! As simple as it gets another great explanation of why Bitcoin.
Jack Mallers explains on national television why the US government will be forced to print trillions of dollars over the next two years.
“It’s over man, Bitcoin is going to the moon.”
- @npub1cn4…3vle
This is one (of many) massive reasons why you should be allocating at least some of your money into Bitcoin.
Fiat is dying because our government has been destroying the fiat (the dollar/euro) for decades. Change is coming...
#Bitcoin🧡
#zap 🧡 #nostr #plebchain #grownostr #stacksats https://video.nostr.build/7d6066defafdb966a3fcce50c95ec9237aa815a7472a9672da045b152f7ed8bc.mp4

2023-11-19 07:54:50

You get spam emails.
I get spam money.🧡
We are not the same😁
Is this post helpful to you? If so, please share it and support my work with sats.
#zap 🧡 #bitcoin #nostr #plebchain #grownostr #stacksats https://image.nostr.build/498d1981d843ab2feff7c9738b92d2507d8833c87495678db1e883f79ddfd13c.jpg

2023-11-13 21:54:29

🧠Quote(s) of the week:
"Bitcoin blows minds for many reasons.
Computer scientists say Satoshi solving the Byzantine Generals' problem blew their minds.
Economists might be mystified by an asset that goes up in price without producers increasing production to increase supply.
Oil drillers say finding an alternative to flaring excess gas that's cleaner and more profitable was mind-blowing.
Human rights advocates say being able to own an asset that cannot be confiscated in a corrupt country, allowing people to grow wealth and escape tyranny was mind-blowing.
Power plant operators will say the load-balancing capability of mining is mind-blowing.
Merchants or users of remittance services will say the fact that BTC lowers friction and fees is mind-blowing.
Some might say Bitcoin encouraging saving and long-term thinking is mind-blowing. If Bitcoin hasn't blown your mind, you just haven't viewed it through the right lens yet." - Jamelos Lopp
🧡Bitcoin news:
➡️S&P Global Ratings upgraded El Salvador's credit rating, citing the government's restructuring of short-term local debt. El Salvador's debt rating is now raised from CCC+ to B-, equivalent to Ecuador and Nigeria.
Game theory at play! Now imagine what will be like in 10-15 years!? More countries will follow the same path.
➡️"Today there are 81,954 addresses that hold a minimum of $1M in Bitcoin This is up nearly 3X from January 2023 when just 28,084 Bitcoin addresses held a value of at least $1M" - Bitcoin News
➡️Let's compare gold performance with Bitcoin. Since August 10, 2020, when Microstrategy adopted its Bitcoin strategy.
Bitcoin 214%
Gold -3%
I don't dislike gold, don't get me wrong, but gold is now just noise that takes away from Bitcoin’s signal.
Gold could be used as the gateway drug for Boomers into Bitcoin. If you can teach them gold they eventually get Bitcoin.
Personally, I see gold as my insurance (CDS)* to Bitcoin and Bitcoin is insurance to fiat.
* Credit Default Swap. No clue what I am talking about, watch the movie 'The Big Short'.
Just to sum it up: Since March 2020, Bitcoin smoked (+258%) all the other assets (Nasdaq, S&P, gold) when deflated by the rise in the Fed’s balance sheet.
The following quote is from last week's Weekly Recap: "Gold will run hot early but will eventually peter out as it becomes clear that Bitcoin is a harder asset and superior sound money. Also, as boomers age and digitally native Millenials/Gen-Z enter prime earning years, demand will shift from gold to Bitcoin."
Now are yourself, what will happen to Bitcoin in the next 30 years, when internet-native Millennials inherit a large chunk of $142T currently held by the older generations?
➡️ "Cybermoney controlled by private markets will supersede fiat money issued by governments. Only the poor will be victims of inflation."
Great tweet by Bert de Groot (Bitcoin Brabant): https://twitter.com/BdGBertdeGroot/status/1723598425755623456
TLDR: Self-custody is key!
➡️ "The day that the Bitcoin ETF gets approved, that is the day that the retail era comes to an end and the institutional era for Bitcoin begins." Eric Weiss (the guy that orange-pilled Michael Saylor)
So why you should stack harder? I will quote Samson Mow:
"The era of institutional Bitcoin is something to be cautious of. Yes, it will make the price go up. But it also means Bitcoin may split into two segments, one free-moving and one siloed in the institutions. Always keep custody of your own coins."
➡️ If till now you still have your coins on an exchange or your self-custody process is still wack... the next video/post will maybe change that.
https://twitter.com/RMessitt/status/1723141037856596175
Rick hodled since 2012 and got hacked. 25 BTC gone.
Now I love Rick for posting this on Twitter and sharing his story. By resharing his story I want to warn you guys and by doing that I might help someone.
A reminder to us all that seed phrases should never touch the internet!!! I hope all of you take this as a warning to keep your keys offline.
I personally recommend the following hardware wallets:
Blockstream Jade (For the Dutch followers you can order your Jade here: https://bitcoinbrabant.com/product-categorie/opslag/ - For the international followers you can order your Jade here: https://store.blockstream.com/product/blockstream-jade-hardware-wallet/)
Bitbox02 - Bitcoin-only edition: Order here https://bitbox.swiss/bitbox02/?ref=IYjAmzKEXw
ColdCard: Order here https://store.coinkite.com/store
"Bitcoin is like a living organism trying to move from weak hands to strong. Strong how?
- Own physical vs paper claim (GBTC)
- No leverage vs leverage
- Cold vs hot wallet
- Self-custody vs custodian
- Multsig vs single sig
Strengthen your hands or your BTC may leave you." Vijay Boyapati
➡️ 31 days ago, Jim Cramer said Bitcoin is about to go down. BTC is up 37% since then.
➡️ Bitcoin has seen an 80% increase in transactions valued over $100,000, compared to the 30-day prior.
➡️ Swedish couple experienced a violent home invasion by a group of robbers who were intent on taking their Bitcoin wealth. This incident is just one example of the growing trend of cryptocurrency-related robberies in Sweden
➡️The amount of Bitcoin held for more than 5 years is literally going vertical! Stackers from the 2018 bear market are holding stronger. 5yrs ago represents coins acquired at the 2018 lows between $3k and $4k.
➡️ Over 700K new Bitcoin addresses were created on November 4. Daily adoption! Is retail finally waking up?
➡️ WisdomTree Enhanced Commodity Strategy Fund to invest up to 5% of its net assets in Bitcoin future contracts.
➡️ Bitcoin mining company Hut 8 receives authorization to launch a “stalking horse” bid for several natural gas power plants and a Bitcoin mining site.
More on mining! Last week Daniel Batten presented a new peer-reviewed paper "From Mining to Mitigation: how Bitcoin can support renewable energy development and climate action”
The authors found Bitcoin mining “can help attract private investment into the renewable energy sector, providing a much-needed boost” for renewable development This adds scholarly weight to what Bitcoin mining companies have been saying for some time: that Bitcoin mining supports the renewable transition
Note: ACS Sustainable Chemistry & Engineering ranks #14 out of 139 for all environmental science–chemistry journals
read the paper here: https://pubs.acs.org/doi/10.1021/acssuschemeng.3c05445…
Daniel Batten: "35x 4MW bitcoin mining operations on landfills that were previously venting their methane = a greenhouse negative bitcoin network. Globally, 1000s of landfills have no profitable use case other than Bitcoin mining. Let that sink in."
I can't get over the fact that Bitcoin mining allows anyone, anywhere in the world, to turn electricity into money. Add on that, inventing a peaceful internet protocol that aligns human incentives to reduce methane emissions. If that isn't revolutionizing, nothing is.
➡️ Starting November 17, 2023, Gemini UK will only allow outgoing Bitcoin and cryptocurrency transfers to other registered TRUST Virtual Asset Service Providers (VASPs). Transfers to non-TRUST VASPs will be blocked.
Ergo: Controlled by the government
Start using a hardware wallet and start using P2P exchanges like Peach Bitcoin, Bisq or HodlHodl. Don't use centralized exchanges like Coinbase, Binance, or Bitvavo.
If P2P exchanges are a bridge too far, start using services like Relai.
➡️Nouriel Roubini is launching his own investment token offering. It reports being “enabled by AI, ML, Climate Technology, and Blockchain”.
You can't even write this shit. Roubine total helmet doom posted about Bitcoin for nearly a decade... now launching a shitcoin.! This next bull run cycle is going to be bananas. Stay safe out there, I have warned you!
➡️The number of addresses holding more than $1k worth of Bitcoin has hit a new all-time high.
➡️Michael Saylor's MicroStrategy Bitcoin holdings hit $1.27B in profit! 158,400 Bitcoin, $29,5K average price, 23% profit. Saylor is playing chess while others play checkers.
💸Traditional Finance / Macro:
👉🏽"This week's look ahead for the global economy and markets include US economic indicators such as industrial production, the NFIB small business sentiment and, especially, retail sales; and CPI and PPI data, where consensus is expecting 0.1% (headline) and 0.3% (core) monthly inflation for both. While on price data, look also for Argentina’s CPI inflation where the annual measure is expected to come in at 146%." - Mohamed A. El-Erian (President, Queens' College, Cambridge Uni. Allianz, Gramercy advisor.)
👉🏽 https://twitter.com/LynAldenContact/status/1723736410807501002
My only take from this.... do a plot with real-world inflation, not the fake CPI.
The stock market depends on the government printing money to make profits. Now don't get me wrong a lot of companies do add value to our lives and economy, but there is a major difference between the real economy and the financial economy (stock market)
🏦Banks:
👉🏽 World's Biggest Bank forced to trade via USB stick after hack. hahaha, read that again! This is bonkers, to say the least!
https://twitter.com/Mayhem4Markets/status/1722911227364384862
🌏Macro/Geopolitics:
👉🏽"Moody’s cuts U.S. credit outlook from stable to negative. Reasons for the cut:
1. Downside risks to U.S. fiscal strength have increased
2. Fiscal deficits to remain very large
3. Debt affordability to be significantly weakened Since the debt ceiling crisis “ended” S&P has downgraded US credit ratings and now Moody’s cut their outlook. All as interest rates are soaring and the U.S. issues trillions of Dollars in debt. Warning signs are everywhere, but no one is listening."
Moody’s specifically cites higher interest rates as a risk with rising deficit spending. The U.S. is currently spending at World War 2 levels but calling for a “soft landing.” One more misstep and the US loses its last AAA.
So let's have a look at the US current Debt situation...
👉🏽"Total US household debt rose by $230 billion in Q3 2023, to a new record of $17.29 trillion. Breakdown of the large categories:
1. Mortgage Debt: +$126 billion to $12.14 trillion
2. Auto Loans: +$13 billion to $1.60 trillion
3. Student Loans: +$30 billion to $1.60 trillion
4. Credit Card Debt: +$48 billion to $1.08 trillion
Total household debt in the US is now up ~21% in 3 years and rising rapidly.
We are "fighting" inflation with debt." - TKL
The US has so much debt that it can't service it through income, but only by taking on more debt.
Would like to know more on this topic I highly recommend the following podcast 'What Bitcoin Did' - interview with Luke Gromen:
https://www.youtube.com/watch?v=4Fr7SMuv0zo&t=7s
If we have a look at the Credit Card Debt we see that the: "total credit card debt in the US rose by $48 billion in Q3 2023, to a record $1.08 trillion. This means that total credit card debt is now up $400 billion since 2013 and $300 billion since 2020. Meanwhile, interest rates are credit card debt are at a fresh record of 25%. The average consumer is now spending $1,600/month on their credit card. People continue to "fight" inflation with credit card debt." -TKL
Our economy, also here in Europe, is based on borrowed money. Now in essence that is not bad...but the debt level in the US and other parts of the world is out of control. We need austerity, but basically, that is from a political standpoint, suicide.
Just to give you some context on the US debt:
It is now paying over $1 trillion annually of *interest* on federal debt. That's more than every single other line item (including Defense spending) except Social Security.
Hence, the US is now spending nearly one and a half 2008 bailouts every year just to service the debt.
https://twitter.com/jameslavish/status/1722327226065228191
This is completely out of control. The Fed owns 25% of TIPS issuance. So if inflation is higher, obviously there gonna be an outsized effect on debt interest payments...well you do the math. Oh well, what is a trillion here and a giraffe there between friends, right? Opt the F OUT: Bitcoin.
The only feasible long-term plan is going to be an inflationary policy. There is no political appetite to raise more revenues or cut spending, and interest expense is soaring. The Fed will likely need to reverse QT back to QE. They will try to inflate their way out of this and CBDC will help them in the process.
👉🏽https://twitter.com/jsblokland/status/1721798471252914653
What happens when you replace cheap gas from Russia with expensive LNG from the US because someone blew your pipeline, and your energy infrastructure is a mess? A big thanks to the present social-green government.
German is the sick man of Europe.
Germany could restart their nuclear power plants and lower energy prices for CE, but Habeck and the Greens would rather sacrifice Germany's economy and competitiveness (and EUs) than reopen the nuclear power plants and acknowledge that the 'Energiewende' was a disaster.
Germany's industry shrinks more than expected amid recession risks. German industrial output fell for a fourth month in Sep. Production declined 1.4% vs -0.1% expected. The sector is reeling from higher interest rates and China's slowdown.
🎁If you have made it this far I would like to give you a little gift.
"If you don’t understand how treasury auctions work, there’s a very strong chance you’re going to need to educate yourselves."
Another fantastic, easy-to-read breakdown of a difficult concept: "Near-Failed Treasury Auction" by @jameslavish, in The Informationist.
https://ckarchive.com/b/5quvh7hvl425oup5xxd52arzrx344
"Let me remind you. This is a US Treasury Bond. The global reserve asset. The (supposedly) most risk-free, most pure, most perfect security on the planet. And on Thursday, it traded like a tech or meme stock. Insanity."
Credit: I have used multiple sources!
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @npub1sqz…7vis especially suited for beginners or people that want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.
⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It's that simple.
⠀⠀⠀⠀⠀⠀⠀⠀
Is this post helpful to you? If so, please share it and support my work with sats. #zap 🧡 #weeklyrecap #nostr #plebchain #grownostr #stacksats
https://void.cat/d/EaAMo95YxEMKhFiiTiFa4k.webp

2023-11-06 21:54:54

- reply

🧡🙏🏽

2023-11-06 20:38:53

🧠Quote(s) of the week:
The anniversary of Guy Fawkes’ Gunpowder Plot is a perfect time to remember Bitcoin as truth and to move another step closer to obsoleting the parasitic nature of the current system.
Vi veri veniversum vivus vici -> "By the power of truth, I, while living, have conquered the universe."
"Remember, Remember! The Fifth of November, The Gunpowder Treason and Plot; I Know Of No Reason, Why The Gunpowder Treason, Should Ever Be Forgot!"
Bitcoin is our own truth:
“Remember, remember, it is the 5th of November.
The Bitcoin Revolution and Plot,
I know of no reason why the Bitcoin Revolution
Should ever be forgotten.”
🧡Bitcoin news:
Before we start with the Weekly Recap some extra info for the Dutch followers.
Early general elections are scheduled to be held in the Netherlands on 22 November 2023 to elect the members of the House of Representatives.
Do you want to know what the current positions of political parties are regarding Bitcoin, cryptocurrencies, and digital central bank digital currency (CBDC)?Click here: https://bitcoin.nl/artikel/verkiezingen-de-bitcoin-stemwijzer-2023
➡️ The World Bank published a report on Gas flaring, that mentions Bitcoin about 40 times. They're acknowledging the powerful incentive structure that Bitcoin offers to tackle Climate Change.
So it's not only the pro-Bitcoiners, for example '"With real-world data, we (@ARKInvest) demonstrate that Bitcoin mining could encourage investment in solar systems (solar grids + batteries), enabling renewables to generate a higher percentage of grid power" or "Bitcoin mining reduces the CO2-equivalent emissions by about 63% when compared to traditional methods of flaring methane, explains @GigaEnergy_"
➡️ Great move by Vanguard, NOT!
Chairman and CEO of Vanguard Group Tim Buckley says the firm won't join the Bitcoin ETF race, as Vanguard claims to be focused on asset classes with an intrinsic value and capable of generating cash flows, like equities and bonds.
Why move ahead into the future when the past was so profitable for you?
Talking about living in the past...“We will stay focused on the horse and buggy. The auto-carriage is a fad.” Same vibe!
➡️Berkshire Hathaway's vice chairman Charlie Munger: "Bitcoin is like throwing a stink ball into a recipe that's been around for a long time, that's worked very well for a lot of people".
I will quote James Lavish:
"Ah yes. ‘The recipe’. The richest 1% seized 2/3s of all new wealth ($42 trillion) created since 2020, about twice the rest of the bottom 99%. And billionaire fortunes are increasing by $2.7 billion per day, while over 1.7 billion workers now live in countries where inflation is outpacing wages. (h/t@Oxfam) It appears that 1% of the population is a lot of people to Charlie (and others just like him)."
➡️PayPal just got approved to offer Bitcoin and crypto services in the UK.
➡️On the first of November, we’ve officially mined 93% of the 21m Bitcoin. The majority of it is in long-term storage or lost forever. Over the next 117 years, billions of people will compete over the remaining 7%.
➡️The correlation between the S&P500 and Bitcoin has collapsed to less than 0.
Is Bitcoin now being recognized as a global "flight to safety" in these uncertain times when compared to "risk-on" assets like stocks?
➡️A great thread by Jurrien Timmer, Director of Global Macro at Fidelity. With Bitcoin, higher risk comes a superior return. This thread will visualize that and show you Bitcoin's volatility.
https://twitter.com/TimmerFidelity/status/1720157956212244697
Oh, by the way, Jurrien Timmer, also mentioned that he thinks that Bitcoin is 'exponential gold':
https://twitter.com/TimmerFidelity/status/1720152886863179937
So what do Central Banks do? "Central banks are in the market for hard money. Even with gold near ATHs, they're still buying record tonnage. Just a matter of time before bitcoin, that "exponential gold", also gets added to the mix."- Tuur Demeester
I will quote this excellent tweet by Henry Schaffer:
"Gold will run hot early but will eventually peter out as it becomes clear that Bitcoin is a harder asset and superior sound money. Also, as boomers age and digitally native Millenials/Gen-Z enter prime earning years, demand will shift from gold to Bitcoin."
The following tweet by Jurrien puts into perspective Bitcoins' store of value thesis and puts Bitocin on the map for comparison.
https://twitter.com/TimmerFidelity/status/1720451086882877606
➡️ Federal Reserve threatens to sue Bitcoin Magazine in an attempt to silence criticism (their satirical "FEDNOW" merchandise, which incorporates a panopticon eye into the logo design) of its FedNow service.
For more information: https://www.zerohedge.com/crypto/fed-threatening-sue-bitcoin-magazine
TLDR: Bitcoin Magazine tells them to GFY
➡️ Spot exchange volumes surpassed $24B, reaching an 8-month high amid expectations of an imminent Bitcoin ETF approval
➡️ Argentina's two remaining Presidential candidates: Sergio Massa - Wants to mine Bitcoin with excess natural gas. Javier Milei - Says Bitcoin can eliminate the central bank. Argentina's economy is 20x bigger than El Salvador's.
At the moment (3rd of November), Argentinian Libertarian Javier Milei has a 4-point lead over Economic Minister, Sergio Massa, for the upcoming presidential runoff.
➡️Financial giant Block sold $2.42 billion worth of Bitcoin to customers through Cash App in Q3. That's 40% of Block's total revenue
➡️ Jury finds Sam Bankman-Fried guilty of all seven criminal counts against him. The former FTX CEO faces a maximum sentence of 115 years in prison. Fraud in the collapse of FTX was “worse than Enron” according to advisors. $10 billion in customer funds were missing. US Attorney says Sam Bankman-Fried perpetrated one of the biggest financial crimes in US history.
I quote Erik Voorhees: "Let's remember that he operated "the safe and regulated" exchange, and not a single regulator caught him. It was, instead, the market, which is not only a great fountain of innovation but also the best arbiter of discipline and justice."
Anyway, the Fed is a greater scam than FTX. More on that below in the segment Traditional Finance & Macro.
➡️ One of Austria's oldest football clubs, FC Admira Wacker, puts the Bitcoin logo on the jersey and will integrate Lightning payments. One of Austria's oldest and most traditional clubs, FC Admira Wacker, is becoming the first Bitcoin football club in the German-speaking part of Europe. LN integration, merchandising, educational content, and many more fun projects on Bitcoin to come
➡️ Marathon Digital to partner with Nodal Power for the development of a 280-kilowatt (kW) Bitcoin mining project in Utah, powered by landfill-generated methane.
Their official statement: "Today, we're announcing the energization of our first Bitcoin mining pilot project powered by renewable, off-grid energy from a landfill. The project is currently fully energized and operational."
Learn more: https://bit.ly/49gxvWH
TLDR: A brilliant way to cut emissions and go green. Can somebody please call Greenpeace USA, Alex de Vries, or Paul Tang (EU Member of the European Parliament)
➡️Percentage of Bitcoin supply that has not been moved for at least 1- year is nearing a new all-time high
➡️ New record Bitcoin hashrate! 450,000,000,000,000,000,000x per second
💸Traditional Finance / Macro:
Stan Druckenmiller on CNBC: “My generation… we’ve given nothing. We’ve given nothing! And now we want to screw our grandchildren… We’ve got to stop guys, we’re DRUNK.”
🏦Banks:
👉🏽Not really news, but just a reminder. 110 years ago, the Federal Reserve was founded. Since then, the US dollar has lost over 97% of its value.
👉🏽Another great reminder:
https://twitter.com/WalkerAmerica/status/1719743817753002081
👉🏽On November 3rd, the Federal Reserve said: "ACH Error Impacting Customers "
"Their ACH network had a problem that reveals a lack of data verification and validation in their proprietary fiat software. Instead of taking ownership of the protocol problem and fixing the root cause, the Fed is throwing EPN under the bus." - Pierre Rochard.
The Clearing House’s ACH operations service is called EPN, which handles essentially half the U.S. commercial ACH volume.
and on the same day: "Switzerland to restrict bank withdrawals and impose 'exit fees' on customers who take their money out under new rules being considered" - Reuters
AND
UK bank NatWest is telling customers to reduce their carbon footprint, eat vegetarian, and stop drinking dairy milk after scanning their transaction data - Telegraph
Bitcoin literally fixes this! Bitcoin is the exit!🧡
🌏Macro/Geopolitics:
👉🏽Summary of Fed decision:
"1. Fed leaves rates unchanged for a second straight time
2. The Fed will assess the extent of "additional tightening"
3. Tighter credit conditions continue to weigh on the economy
4. The Fed will "continue to assess additional information"
5. The inflation target remains at 2%
The Fed is bracing for a LONG PAUSE."
It looks like rate hikes are done. But higher rates are still necessary to get a grip on inflation and the economy.
👉🏽Dutch Inflation to the LOWEST level on record! EU Harmonized CPI -1.0%. Hello, deflation!
👉🏽"Eurozone inflation sinks to 2-year low as the Eurozone economy shrinks: CPI slowed to 2.9% in Oct, down from 4.3% and better than expected 3.1%. But Core CPI – that excl food and energy is retreating less rapidly. It moderated to 4.2% in Oct from 4.5% the previous month." - Holger Zschaepitz
👉🏽"ISM Manufacturing comes in at 46.7 vs an estimate of 49 The fall was led by a collapse in new orders (from 49.2 to 45.5) and employment (from 51.2 to 46.8) This is not a great set of data by any stretch of the imagination."
Here in Europe, we are already experiencing a manufacturing depression, especially in Germany.
This is the Fed's worst nightmare: Stagflation.
👉🏽"The more Fed Chair Jay Powell speaks, the more the market hears that the US central bank is done with rate hikes in this economic cycle. US 2-year yields plunge." - Lisa Abramowitz
👉🏽 "Dollar drops, Bond yields slide following VERY disappointing US jobs data which fuel bets Fed is done. US econ added 150k jobs in Oct, less than 180k expected. Revisions were negative. Household Survey showed a huge 348k loss in jobs during Oct, unemployment rate ticked up to 3.9% vs 3.8% exp." Holger Zschaepitz
👉🏽 FED Barkin: "I am hearing more evidence of middle-income consumers cutting spending, high-end consumers are not cutting back"
Ergo: we are screwing the middle class
👉🏽The fiat system is fueled by debt. "The US ended last week with $33.7 trillion of federal debt and $211.2 trillion of unfunded liabilities, bringing the total amount owed to ~$245 trillion. That’s approximately 55X tax revenues, or the equivalent of someone with a $100K salary and $5.5 million of debt." - James Lavish
The bottom of the unemployment rate was 3.4%. Today unemployment printed at 3.9% in the US. Another 2 months of 3.9% cement the recession according to the Sahm rule.
What is the Sahm Rule? The rule, hatched by former Federal Reserve economist and now Bloomberg columnist Claudia Sahm, posits the start of a recession when the three-month moving average of the unemployment rate rises by a half-percentage point or more relative to its low during the previous 12 months.
The preserve logic of the market (Wall Street):
Unemployment up = Market up
- Biden's Dept of Fake Data doing its thing: August jobs revised down by 62,000, from +227K to +165K September was revised down by 39,000, from +336K to +297K 8 of the past 9 months have been revised lower.
The much more accurate and less manipulated Household survey shows employment collapsed by 348K, the biggest drop since the Covid shutdown. It's almost certain the US is already in recession.
Basically a lot of fakeness in a world called fiat. In a serious nation based on a sound moral judgment, with a real media, and a well-functioning political system this would be a major story. The now-convicted criminal Sam Bankman-Fried is "one of the people most responsible for Biden being in office" and one of his "biggest donors". Just saying.
https://twitter.com/alistairmilne/status/1720349075705303504
If you have made it this far I would like to give a little gift, a keynote talk by @npub1trr…hdpu of the Human Rights Foundation:
"The Currency Caste System"
Watch it here: https://www.youtube.com/watch?v=hDQRxgWIt6Q
TLDR: "150+ fiat currencies allow for massive exploitation via endless wage devaluation. Billions get squeezed Bitcoin threatens to obsolete this system with one neutral, open, global currency"
Credit: I have used multiple sources!
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @npub1sqz…7vis especially suited for beginners or people that want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.
⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It's that simple.
⠀⠀⠀⠀⠀⠀⠀⠀
Is this post helpful to you? If so, please share it and support my work with sats. #zap 🧡 #weeklyrecap #nostr #plebchain #grownostr #stacksats
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2023-11-05 12:50:51

The anniversary of Guy Fawkes’ Gunpowder Plot is a perfect time to remember Bitcoin as truth and to move another step closer to obsoleting the parasitic nature of the current system.
Vi veri veniversum vivus vici -> "By the power of truth, I, while living, have conquered the universe."
"Remember, Remember! The Fifth of November, The Gunpowder Treason and Plot; I Know Of No Reason, Why The Gunpowder Treason, Should Ever Be Forgot!"
Bitcoin is our own truth:
“Remember, remember, it is the 5th of November.
The Bitcoin Revolution and Plot,
I know of no reason why the Bitcoin Revolution
Should ever be forgot.”
I will watch V for Vendetta again. There has never been a better time to watch this movie.
Learn more on the Gunpowder Plot: https://en.wikipedia.org/wiki/Gunpowder_Plot_in_popular_culture
Bitcoin Magazine article: https://bitcoinmagazine.com/culture/bitcoin-and-the-fifth-of-november
I hope this post is helpful to you. If so, please share it🧡
#zap 🧡 #satoshi #nostr #plebchain #grownostr #stacksats #optout #bitcoin #5thofnovember https://image.nostr.build/00341420b00be82193102e864d140c0a351eff7983bf497dda754f2488cc70ee.jpg

2023-10-31 13:55:32

So I can buy groceries cheaper, right?
But central banks won’t over tighten and send us in to deflation, right?
I mean they understand the lagged impacts of monetary policy, right?
#zap 🧡 #satoshi #nostr #plebchain #grownostr #stacksats #optout #bitcoin https://image.nostr.build/b67edffec8a0997f91fdfb3323b5d42da5c17b0f36377b159e3015f74c880ffe.jpg

2023-10-31 06:46:39

On this day 15 years ago… An email was sent to the cryptography mailing list with the Bitcoin whitepaper. Happy #BitcoinWhitepaper Day! 🧡
Only nine pages and 3192 words. And yet it changed the world. Profoundly. Thank you Satoshi Nakamoto!
#zap 🧡 #whitepaperday #satoshi #nostr #plebchain #grownostr #stacksats https://image.nostr.build/038f66737c49043192ae35d0c30ecd0ee69e5f41d91bab73894e86035682ca79.jpg

2023-10-30 22:37:33

- reply

🧡🙏🏽

2023-10-30 21:48:32

🧠Quote(s) of the week:
"Where do you spend most of your time and energy?
A system is trying to control you with fear and division. (and is it getting worse?) or
A system based on truth, hope, and abundance. (and is it getting better?)
A mirror of thoughts, words, and actions."
"Fear versus hope"
An eternal battle inside each of us, with our thoughts & actions reinforcing the world we each see,
Fear stops people from moving towards hope, and can be used effectively against you.
We all have a choice.
Those choices, in turn, shape our future!"
- Jeff Booth
🧡Bitcoin news:
Now before we start the weekly recap I want to share a tweet by Dr. Jeff Ross, as the war/genocide in Gaza intensifies.
"On a fiat currency standard, central planners argue that more fiat must be created in order to fund two or three simultaneous wars.
On a Bitcoin standard, decentralized users understand that sustained major wars are generally unaffordable, massively wasteful, and, therefore, unlikely to occur.
One currency standard generally wastes human life, while the other monetary standard generally preserves it.
Which world do you prefer?
The choice is yours.
Bitcoin is better money for a better world."
- Dr. Jeff Ross
➡️ Spot exchange volumes surpassed $24B, reaching an 8-month high amid expectations of an imminent Bitcoin ETF approval
➡️ "There's so much pent-up demand for Bitcoin — $200 Trillion of Institutional assets that can't touch it until an ETF is approved. - Ernst & Young (one of the top 4 global consulting)
It's the regulatory green light institutional investors are waiting for: "The spot Bitcoin ETF will be like a superhighway on-ramp for many institutional investors. It translates Bitcoin into the securities language they already know and speaks and does business in every day." - James Lavish
"Blackrock, Fidelity, Invesco and other major spot Bitcoin ETF issuers will probably need several million Bitcoin to satisfy consumer demand over the next 24 months. Where are they going to find that much 'physical' BTC without driving the price to $200,000+?"
I am not sure about the 'several million Bitcoin', but yes this will be the market dynamic.
Anyway talking about the approval...
➡️SEC Commissioner Hester Pierce says the "logic for why we haven't approved a Spot Bitcoin ETF has always mystified me."
SEC is supposed to protect retail investors but seems like they do everything to make sure retail doesn’t make money. The delay only makes sense if there is an underlying agenda to shield conflicting interests. Just to put it down in simple terms: Old money hates new money and tries to find ways to control the narrative, create pump/dumps, and profit from it.
"Bitcoin is a “safe haven asset” that consistently outperforms gold" - $676 Billion fund manager Alliance Bernstein
➡️ Last week we received the news that some people on Coinbase encountered a new $5k/wk withdrawal limit policy. The policy was implemented on 13.10.2023. I can only guess why they implemented the policy. Exchanges only have fractional reserves of your Bitcoin, so please repeat after me: not your keys...
They are going to close the exits soon. Self-custody is the only safe option. Learn how to self-custody. End of the day if you have Bitcoin on exchanges you are playing a game of musical chairs. If you are last to down, you lose!
Talking about not your keys, not your coins...
➡️ Ledged launched their 'Ledger Recovery'. So what is the new service and how does it work?
I quote Ledger: "Ledger Recover is a new service that is 100% optional. Ledger Recover is an ID-based key recovery service that provides a backup for your Secret Recovery Phrase. If you lose or don't have access to your Secret Recovery Phrase, the service allows you to securely restore your private keys using a Ledger device."
How this works:
STEP 1: Identity verification
Verify your identity using a valid ID document and a selfie recording.
STEP 2: Creating the backup
Connect your Ledger device and approve the creation of the backup for your Secret Recovery Phrase. Once approved, your Ledger device will encrypt the entropy of your Secret Recovery Phrase—a string of random 1s and 0s from which your Secret Recovery Phrase is computed. The encrypted entropy is fragmented into three pieces within the Secure Element chip. These fragments become the backup for your Secret Recovery Phrase. Ledger Recover only interacts with the fragments of the encrypted entropy, and never with your Secret Recovery Phrase in its readable format.
STEP 3: Securing the backup
The fragments are securely distributed using end-to-end encrypted and authenticated channels to the Hardware Security Modules (HSMs) of three independent companies – Ledger, Coincover, and EscrowTech. Each fragment on its own is a useless set of random numbers.
STEP 4: Linking the backup to your verified identity
Each fragment is linked to your verified identity from Step 1, so only you can request to retrieve the backup.
You will be billed 9,99€ per month after the first free month. You can unsubscribe anytime. Exclusively for Ledger Nano X.
Now my take on it:
There is no point in owning a hardware wallet if you're just going to give your private key to the government and corporations.
If you use this service, you are signing up for a simple seizure of funds if Ledger willingly (or unwillingly due to government pressure) decides to collaborate with one of the other storage providers.
If you want to read my full explanation:
https://www.instagram.com/p/CsWLjWosy0Z/?img_index=2
➡️ Casa CEO Nick Neuman sends an email to customers warning of abnormalities at Binance and encouraging them to remove funds from the exchange ASAP.
➡️ Bitcoin setting new All-Time Highs in countries around the world including Argentina, Egypt, Laos, and Lebanon. Also ATH in Turkish lira and Nigerian naira. Although I think this is less about Bitcoin ATHs and more about government-caused inflation ATHs.
➡️BlackRock's ETF ticker was removed from listing on the DTCC website and the huge volume of traffic from people checking broke the serve
➡️ On the 24th of October Bitcoin crested $34,500 for the first time since spring 2022 as the spot ETF hope rally gains steam $17 million short bitcoin futures have been liquidated in the last 20 minutes. $117 million in shorts have been liquidated and forced to buy spot today.
With the price surge to $33.8K, MicroStrategy is $679,000,000 in profit on their Bitcoin investment
➡️ Bitcoin Dominance surpasses 54% - a level not seen since April 2021, and 80% of Bitcoin addresses are now in profit.
➡️https://twitter.com/JoeConsorti/status/1716886928644321711
➡️"Last week, the @WSJ published an article claiming about $90 million worth of crypto was used to fund Hamas — a serious claim that gained significant attention. In response to the article, anti-Bitcoin politicians directly linked the WSJ article as evidence in a letter to the White House and Treasury “to address the serious national security threats posed by crypto’s use to finance terrorism.” Later, it was confirmed that the article was patently false. It was straight-up fake news. This was confirmed by @chainalysis, which ran the numbers." - Sam Callahan
Read more here:
https://twitter.com/samcallah/status/1715854073461604555
You can find the original sources below.
Original Fake WSJ article: https://wsj.com/world/middle-east/militants-behind-israel-attack-raised-millions-in-crypto-b9134b7a…
Politicians' letter to the White House: https://warren.senate.gov/imo/media/doc/2023.10.17%20Letter%20to%20Treasury%20and%20White%20House%20re%20Hamas%20crypto%20security.pdf…
Chainalysis correction article: https://chainalysis.com/blog/cryptocurrency-terrorism-financing-accuracy-check/
"Stocks down. Bitcoin up! BlackRock CEO said Bitcoin is a "flight to quality" because of the global chaos. Billionaire hedge fund manager Paul Tudor Jones said "Bitcoin is the fastest horse in the race" in an inflationary recession. Is the De-Coupling finally here?" -Bitcoin Archive
https://twitter.com/BTC_Archive/status/1717482661361357185/photo/1
➡️"Buy Bitcoin" Google searches spike globally, with a ~820% increase in the UK.
➡️ Bitcoin hash rate EXPLODES higher to 545 EH/s
➡️ "Remember this announcement?
"Ethereum will use at least ~99.95% less energy post-merge"
ETH is down 32% against BTC since. If you pay peanuts, you get monkeys."
Never change Tuur Demeester, never change!
💸Traditional Finance / Macro: no news
🏦Banks: no news
🌏Macro/Geopolitics:
👉🏽 M2 US dollar money supply just logged its 10th straight month of contraction at -3.6% in September. The longest period of money supply contraction since 1933 just keeps getting longer. Although this isn't a surprise. Rising interest rates and QT basically mean contracting M1 and M2. They are sucking the money out of the system that we injected during 2020-2021. Now why is this bad? Monetary policy-induced deflation into a system that is having debt through its freaking eyeballs, well that's bad.
Imagine BTC's price when this reverses and the printer goes brr again!? Despite the largest M2 contraction to date, Bitcoin is up 100%+ YTD.
👉🏽The US' annual interest expense just hit $981 billion for the first time ever. The Fed hikes rates to reign in consumer demand... meanwhile, it bankrupts the US government. As tax receipts weaken, interest payments will be increasingly funded with more debt issuance.
👉🏽US GDP grew 4.9% in Q3 QoQ annualized, way faster than +4.3% expected. Now for fiat fanboys, this is a signal that the economy is strong. But... "The United States hasn't made more than it spends since 2002. Those strong GDP numbers you've been sold are fuelled by even larger fiscal deficits. There is no "real" growth in the USA. It's a multi-decade debt-fuelled bender." - Joe Consorti
👉🏽US treasury secretary, Janet Yellen: "Biden has proposed deficit reduction plans."
"And just like the Inflation Reduction Act, this new plan will expand the budget, increase the deficit, and cause more inflation. There is only one button in Washington and it is labeled ‘Spend’." - James Lavish
On top of that, today we received the news that the Treasury expects to borrow nearly $1.6 trillion in net new debt during the six-month period covering this quarter and next quarter. Consequences, massive inflationary.
We are living in a world where debt is growing exponentially. In 2008 the US only needed a $5B cushion in the TGA - now the government needs a $700B cushion.
By the way, put this in Bitcoin's perspective. The US Treasury is going to issue 2.6 Bitcoin networks worth of debt (55.000.000BTC) over the next six months. Yikes!
👉🏽US consumer 1-year inflation expectation median comes in at 4.2% vs 3.8% prelim. 5-year is 3%. This is re-accelerating. Not clearly well-anchored in my view even if the Fed continues to believe it. Inflation may go down, but prices never go down. Inflation is 3%, but prices are 30% higher than they were 2 years ago.
👉🏽 "For the first time in history, you need to make six figures to afford a house in the US. The annual income needed to afford a house is now $111,000, according to Reventure. Meanwhile, the median household income in the US is just $78,000, ~30% below that threshold. Just 3 years ago, in 2020, you needed $60,000 of annual income to afford a house. In other words, the income required to own a home has risen by 85% in 3 years. The gap between median income and income needed to afford a house is ~25% LARGER than it was in 2008". - TKL
https://twitter.com/KobeissiLetter/status/1718297045088211152
I will end this week’s Weekly Recap with a tweet by Preston Pysh:
Must Read Quote From Luke Gromen:
“Many investors appear to be operating under a misapprehension that this cycle is just like all the previous cycles in their career, even though the FED has *NEVER* tightened with debt/GDP at 120%, deficits/GDP at 6%, or US Net International Investment Position at -65% of GDP….
…. LET ALONE TIGHTENED WITH ALL THREE BEING TRUE AT ONCE! …
The implications of this are critical: On one hand, if the FED keeps tightening from here, they are going to lose the long end (at least until they create an outright 1987-like stock market crash, and then stand aside as the system implodes)…and even then, the bid for USTs will only last until tax receipts collapse and UST issuance skyrockets. On the other hand, if the FED loosens policy from here, they are also going to lose the long end.”
@LukeGromen
All I can say (Preston): Got Bitcoin?!"
Credit: I have used multiple sources!
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @npub1sqz…7vis especially suited for beginners or people that want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.
⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It's that simple.
⠀⠀⠀⠀⠀⠀⠀⠀
Is this post helpful to you? If so, please share it and support my work with sats. #zap 🧡 #weeklyrecap #nostr #plebchain #grownostr #stacksats
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2023-10-30 20:49:23

Reality!
No luck, just hard work & conviction🧡
#zap 🧡 #bitcoin #nostr #plebchain #grownostr #stacksats https://image.nostr.build/e1b2b9c62e2dbaeee2829def9853186c35fe661b3f2184f43ad28abfd7283fba.jpg

2023-10-25 06:05:55

- reply

🧡

2023-10-23 20:18:05

🧠Quote(s) of the week:
"Buy Bitcoin and self custody.
- Bitcoin doesn’t care about Gensler.
- Bitcoin doesn’t care about war.
- Bitcoin doesn’t care about SBF.
- Bitcoin doesn’t care about BlackRock.
- Bitcoin doesn’t care about fake news.
- Bitcoin doesn’t care about price targets.
Tick tock, another block."
Predicting emergent complex behavior on an honest, immutable ledger is very difficult if you're measuring it from a dishonest, manipulated ledger. What system are you measuring from? Bitcoin! - Jeff Booth
"If you’re new to Bitcoin you may have heard the term “cycle theory” thrown around. Put simply, cycle theory suggests that Bitcoiners in proximity to each other will get their period at the same time. This group menstrual phenomenon is colloquially referred to as the bear market and lasts on average 3 years."- Hodl
🧡Bitcoin news:
➡️ Yesterday we received the news that FinCEN is proposing to apply section 311 of the Patriot Act against basically all types of crypto privacy, including noncustodial methods. On top of that, you add the fact that the BIS, as discussed in last week's Weekly Recap, released its Project Atlas whitepaper which aims to monitor and track every move on the 'Blockchain'.
We are in the: then they fight you (stage)!
FinCEN is one of 18+ (we don’t know how many there are for sure) U.S. Federal intelligence organizations. It shares data with intelligence orgs in 100+ other countries. It derives its authority from the 1970 Banking Secrecy Act and the Patriot Act.
If you are not familiar with the recent FinCEN proposal, read Brian Trollz's (Shinobi): "FinCEN Proposals Insane Special Measures" to learn about the recent draconian government proposal. We have 90 days to respond. They want every transaction tracked.
https://bitcoinmagazine.com/legal/fincen-proposes-insane-special-measures
As Lyn Alden mentioned on X: "The gates are down. The more that automated privacy techniques become ubiquitous, the less powerful their surveillance techniques are. Victory by a thousand cuts and civil disobedience of people wanting their spending to be secure and private."
https://twitter.com/AnselLindner/status/1715855382919188855
And I fully agree with Jeff Booth: "An important reminder that coercion and control is the end state of manipulated money. (loss of individual rights and freedoms) If it didn't look like that, would the places with the most broken money would have the best laws "protecting" people"
https://twitter.com/JeffBooth/status/1715732119480352804
➡️ According to @SGJohnsson the amended BlackRock spot Bitcoin ETF filing says they may be looking to seed the ETF with cash this month. Don’t want to read that much into it but it is new info not in the original filing so noteworthy (esp because they are BlackRock.
The race is on people!
Just a caution flag. Don't FOMO in!!
➡️ Argentina's presidential election is now (Sunday evening) underway. Are you ready for the next Bitcoin president? Argentina's economy is about 20x bigger than El Salvador's and a pro-Bitcoin candidate is leading the polls heading into today’s election. Pro-Bitcoin Presidential candidate in Argentina leads his rival into the election held today.
Javier Milei: 30%
Sergio Massa: 25%
Result: "Argentina's ruling Peronist coalition smashed expectations to lead the country's general election on Sunday, setting the stage for a polarized run-off vote next month between Economy Minister Sergio Massa and far-right libertarian radical Javier Milei.
Massa had 36.6% of the vote, ahead of Milei on just over 30%, while conservative Patricia Bullrich was behind on 23.8% with nearly 98% of the vote counted, a result that defied pre-election polls that had predicted a libertarian win."- Reuters
➡️ After Jim Cramer said: "Bitcoin is about to go down big!" Bitcoin is up by roughly 13%. This guy is a friggin' national treasure as an inverse indicator, everything that man is saying should be taken in a contrarian way, and he should be protected at all costs.
➡️Bitcoin dominance hits highest point in over two years.
➡️ Bitcoin hash rate is going absolutely parabolic, smashing through 450TH/s and another all-time high this week.
➡️CEO of BlackRock, Larry Fink during the rally that started last week. "This rally today is way beyond the [bitcoin spot ETF] rumor. The rally today is about a flight to quality."
This was not on my Bingo Bitcoin 2023 card. I really didn't foresee Larry Fink of all people becoming Bitcoin's marketing department, pushing it as a "flight to quality" due to difficult geopolitical times. Funny how game theory works isn't?
➡️"A significant % of Bitcoin's realized cap comes from coins that have not moved in 2 years or longer. This trend historically precedes bull markets. Supply illiquidity is the charcoal, logs, and kindling. Demand is the match. The halving is lighter fluid" - MitchellHodl
➡️ https://twitter.com/DocumentingBTC/status/1714335426234773917
Great news, not because it is faster to mine, but because open-source mining can open up creativity and innovation for dual-purpose mining. Next to that from a decentralization perspective, we need to have more miner choices than the Chinese ones.
➡️ Bitbox: Bringing Lightning to the BitBoxApp! Bitbox is exploring seamless, non-custodial Lightning payments directly within the BitBoxApp by partnering with
Breeze and using their Breez SDK (read here for more on the SDK)
https://breez.technology/sdk/Why does Bitbox want to add Lightning Support to their cold storage wallet?
By adding a non-custodial Lightning wallet to the already familiar BitBoxApp, they can create a secure and seamless experience to spend your Bitcoin wherever you go. All this without a custodian having control over your funds.
Great addition! For more info: read here https://bitbox.swiss/blog/bringing-lightning-to-the-bitboxapp/
Get your Bitbox02 (Bitcoin-only version) now here: https://bitbox.swiss/bitbox02/?ref=IYjAmzKEXw
➡️ At the Plan B conference in Lugano Relai announced that they will integrate Lightning into the app.
For more info read the news blog:
https://cryptofriday.eu/index.php/2023/10/22/relai-soon-lightning-fast/
➡️ Follow the Money Series: by Peter McCormack. https://whatbitcoindid.com/wbd-films
These are really solid documentaries. Highly recommend watching all four films.
- FTM #1: Bitcoin in El Salvador
- FTM #2: Inflation, The Hidden Tax
- FTM #3: Dear Elizabeth Warren
- FTM #4: Argentina's Inflation Crisis
➡️ Bitcoin supply held by long-term investors hit an All-Time high of 76%
➡️Bitcoin dominance clocking in at ca. 52.27%. The highest level in 908 days
➡️ Bitcoin hash rate is going absolutely parabolic, smashing through 450TH/s and another all-time high this week.
➡️ Blockchain data shows a record 76% of Bitcoin is owned by ‘long-term hodlers’ who have not moved their coins in +155 days.
💸Traditional Finance / Macro:
👉🏽As mentioned last week a few tech stocks are still the backbone of the market, the S&P500. And no that is not the real economy.
The S&P 493 is now up just ~4% in 2023 while tech stocks continue to push higher. Meanwhile, the S&P 7, which is the remaining 7 large tech stocks in the S&P 500, is up ~57% in 2023. Combined, the S&P 500 is up ~14% YTD. Without tech stocks and recent AI hype, markets would be significantly lower.
🏦Banks:
👉🏽 Bank of America reports a $131.6 billion unrealized loss on securities in Q3.
"Unrealized losses have come under closer scrutiny by investors since March. At the time, SVB sold a portfolio of its holding at a sharp loss, precipitating its collapse and fueling the worst industry turmoil since the 2008 financial crisis"
Source: Reuters
🌏Macro/Geopolitics:
👉🏽 According to the CBO, The US government paid $711 billion in net interest payments this year. This is an increase of $177 billion, or 33%, from fiscal year 2022. Average interest rates on Federal debt have gone from 1.5% in 2022 to nearly 3.0% today. Annualized US interest expense is expected to hit $1.2 trillion in the coming years.
Since the debt ceiling "crisis" ended, total US debt is up over $2 trillion.
Since 2020, total US debt is officially up more than $10 TRILLION.
Remember, FED revenue in 2022 was $ 4.9 trillion. The US government is not fiscally healthy, and shit will hit the fan real quick.
"UST yields continue to break the banks. 10s are at a 16-year high of 4.91% — meanwhile, the 30s crossed 5% for the first time since 2006 As yields soar, the price of outstanding bonds falls. This has left a hole in banks' balance sheets, $1.625 trillion in size, and counting." - Joe Consorti
With the most recent leg down, this US bond selloff is on par with the largest ever in history. It's also in line with the largest falls for major countries that didn't lose a world war or have hyperinflation.
"Bottom line, either way, this current extreme move in yields is setting up for a reversal into next year. There is no other choice. If not they can kiss their soft landing goodbye and risk a systemic break driven by another policy error. The original error: Staying too easy for too long being out of sync with market reality. The new error would be: Staying too tight for too long being again out of synch with market reality."
Oh, by the way, the dollar has lost 17% of its purchasing power in the last 3 years. And that is if you believe the CPI is accurate. Most people know if it intentionally underreported inflation. So the loss in purchasing power is actually much more than 17%. If you are living in the States... is your salary up 25% in the past 3 years? If not you are (probably poorer.
👉🏽 Meanwhile, China has cut its holdings in US Treasuries to $805bn, the lowest level since 2009. Beijing has been selling $502bn in Treasuries in the past decade, & pace of Chinese selling has been accelerated recently. Now this looks bad. But some macroeconomists mention that out of the reported 22-23% drawdown in the Chinese holding of US Treasuries over the past 2 years, around 15-16% point is driven by mark-to-market effects.
More on this topic a great tweet by Jeroen Blokland:
- BRICS & Friends now hold more gold than the US.
- Moreover, the chart shows BRICS+ have been adding gold to their reserves for over a decade.
- Recently, the pace of gold accumulation has been increasing. Why do you think this is?
And equally important, does that mean you should add gold to your reserves as well?
You do not have to embrace extremely bearish views about the world to allow for structural changes in financial markets and, hence, your portfolio"
BRICS countries dump $ 123 billion in U.S. Treasuries in 2023.
Outside money, hence treasuries/bonds X
Inside money, hence hard money -> Gold... now ask yourself what is digital gold?
Bitcoin
👉🏽 "The ratio of the Nasdaq to US Treasuries return is currently at a record 8.2x. To put this in perspective, even at the peak of the 2001 bubble, the largest tech bubble in history, this ratio was ~4.8x. In other words, the Nasdaq to US Treasuries return ratio is now 70% HIGHER than it was in 2001. It's now also 5.5x HIGHER than it was at the peak of the 2008 financial crisis. There has never been a larger gap between return in equities and US Treasuries." - The Kobeissi Letter
👉🏽 For the first time in 23 years, 8% mortgage rates are officially back. Less than 3 years ago, the average rate on a 30-year mortgage was just 2.6%. The median monthly payment for homebuyers will cross $3,000 this month. We are paying the price for "free" money after $4 trillion of stimulus in years of zero-rate policy.
👉🏽 On the 18th of October we received the news that the Governing Council (ECB) has decided to move to the next phase of the digital euro project.
Lagarde: "We need to prepare our currency for the future. While we haven’t yet decided whether to issue a digital euro, we’re getting ready. We envisage a digital euro as a digital form of cash that can be used for all digital payments, coexisting with physical cash, leaving no one behind."
Lyn Alden: "They say that it would coexist with physical cash, but it’s important to keep in mind that once both exist, it is much easier to phase out physical cash. Most changes to the financial system have been piecemeal, swapping out one small item at a time until it’s totally different."
My view: Lagarde getting community notes on the ECB CBDC. The digital euro has nothing to do with cash at all. Don't trust, verify! The digital euro is not digital in any meaningful sense. It's a CBDC and controlled by the ECB. Its ownership can be revoked with a keystroke as it lives in a centralized ledger controlled by the ECB. Cash is anonymous. The digital euro is not. Bitcoin is dictator-proof. Buy Bitcoin while they still allow you to use YOUR money to buy what YOU want.
Freaking scammers / liars: https://twitter.com/thomas_fahrer/status/1715159540684255316
Oh by the way, Bitcoin is up 81% since "Bitcoin's Last Stand" was published on the ECB blog.
https://twitter.com/BitcoinNewsCom/status/1715879846214046035
Credit: I have used multiple sources!
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @npub1sqz…7vis especially suited for beginners or people that want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.
⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It's that simple.
⠀⠀⠀⠀⠀⠀⠀⠀
Is this post helpful to you? If so, please share it and support my work with sats. #zap 🧡 #weeklyrecap #nostr #plebchain #grownostr #stacksats https://image.nostr.build/82bc250f42a490d0dd0a313963a50ff2fe035b3a880fea4799d6c11ee42ea93a.jpg

2023-10-23 20:17:52

2023-10-21 20:27:02

RELAI INTEGRATES LIGHTNING WITH HELP OF BREEZ SDK AND GREENLIGHT
Today at the Plan B conference in Lugano Relai announced that they will integrate Lightning in the app.
Now, if you haven't heard of Relai:
Relai is an easy-to-use auto-investing app that enables almost anyone in Europe to buy and sell Bitcoin from their bank account. To use Relai, you don’t need to register an account or submit personal information and documents. You just need to download the Relai app from the App Store or get it on the Google Play Store and start using the app immediately.
For more info and how to set up your Relai account check out my tutorial video on IG or my Youtube channel.
“Lightning support will initially roll out as a closed invite-only beta program, slowly rolling out to full public access before the end of the year Q4 2023. Starting in early 2024, Relai will expand the integration to direct purchases through their broker service directly into their Lightning wallets. This is possible through a partnership with Breeze, one of the earliest self-custodial Lightning wallets still in operation today, making use of the Breez Software Development Kit (SDK).”
If you need a lightning wallet besides your Relai app, I highly recommend the Breeze app/wallet. Also for business owners who want to incorporate Bitcoin in their business as a payment option, please use/test Breeze.
“The Breez SDK and Greenlight will ensure that the entire Lightning 👉🏽xperience for Relai users is not only self-custodial but also removed a step from Relai.”
For more info about the partnership and the technicality, read here:
https://bitcoinmagazine.com/business/relai-integrates-lightning-with-help-of-breez-sdk-and-greenlight
⚡ Why You Should Check Out The Relai Lightning Network Wallet:
Send and receive Bitcoin at lightning speed! Get your Bitcoin Lightning Network Wallet from Relai, the regulated Bitcoin app from Switzerland. Simple, fast, and secure.
🚆 Transaction Speed: Lightning Network wallets allow for near-instantaneous transactions, while transactions on Bitcoin's main blockchain can take longer depending on network usage and fees.
💸 Fee Structure: Transactions on the Lightning Network tend to have much lower fees than on-chain transactions on the Bitcoin blockchain. Sometimes Lightning transactions are even free.
🛣️ Payment Channels: Only Lightning Network wallets can open, manage, and close payment channels. These channels enable off-chain transactions between users.
Pros of using the @npub1sqz…vk7v app:
👉🏽 You do not need to provide your personal details or register an account (Yes. At Relai you can buy Bitcoin without submitting the full KYC nonsense).
👉🏽 The Relai wallet is non-custodial (which means only you have control over your Bitcoin).
👉🏽 You can dollar-cost average Bitcoin.
👉🏽 You can stack sats with zero fees with Relai (once a month - only applicable to single orders)
👉🏽 Starting in early 2024, lightning support
For new users, the app can be downloaded from all Play Stores. The iOS version is only available in Swiss, Austria, France, Italy, and German App Stores.
If you set up a Bitcoin Savings Plan (weekly/monthly) you can use my code CRYPTOFRIDAY and your fees will be reduced by 0.5%!
This is not an ad or a sponsored post. I just really like Relai.
Good luck and happy stacking!
#zapathon #bitcoin #nostr #plebchain #grownostr #zap #pleb #relai #lightning https://image.nostr.build/d336d92bc5753d547c75af837f154d22a49a5f2ee8a3e7e98eb9d945a9aa13c7.jpg https://image.nostr.build/4404b7f95e68f30859239e6d8c2b9b436efaae843b9145d98a65ec088dd60dd6.jpg

2023-10-20 08:42:01

The first round of the general election taking place in Argentina this Sunday, and Javier Milei is leading the polls. In Argentina, we see what socialism and hyperinflation do. The crisis in 🇦🇷 made it possible for Javier Milei to start his movement and for people to inform themselves about Austrian Economics.
It's obvious…
Bitcoin 🧡
Eventually!
https://x.com/bitcoinnewscom/status/1715195898945302627
#zapathon #bitcoin #nostr #plebchain #grownostr #zap #pleb #argentina

2023-10-18 05:49:05

https://x.com/jackfarley96/status/1714266188828606539
"Unrealized losses have come under closer scrutiny by investors since March. At the time, Silicon Valley Bank sold a portfolio of its holdings at a sharp loss, precipitating its collapse and fueling the worst industry turmoil since the 2008 financial crisis."
https://www.reuters.com/business/finance/bank-americas-unrealized-losses-securities-rose-1316-bln-2023-10-17/
#zapathon #bitcoin #nostr #plebchain #grownostr #zap #pleb #bankingbad

2023-10-16 21:05:56

- reply

Haha, thanks mate!
👀 long.. TLDR:
I am trying to be less of a "gloom and doomer"... but stuff like ‘this’ (segment Traditional Finance & Macro Economics) isn't helping my optimism.
Ergo: that's why we Bitcoin!🧡

2023-10-16 20:32:23

🧠Quote(s) of the week:
“Money is the barometer of a society’s virtue. When you see that trading is done, not by consent, but by compulsion–when you see that in order to produce, you need to obtain permission from men who produce nothing–when you see that money is flowing to those who deal, not in goods, but in favors–when you see that men get richer by graft and by pull than by work, and your laws don’t protect you against them, but protect them against you–when you see corruption being rewarded and honesty becoming a self-sacrifice–you may know that your society is doomed.”—Ayn Rand
"If you’re new to Bitcoin you may have heard the term “cycle theory” thrown around. Put simply, cycle theory suggests that Bitcoiners in proximity to each other will get their period at the same time. This group menstrual phenomenon is colloquially referred to as the bear market and lasts on average 3 years."- Hodl
🧡Bitcoin news:
➡️Last week I attended the Bitcoin Conference in Amsterdam, and together with my fellow Noderunners, we represented the Dutch and Belgian Bitcoin communities.
At the conference in Amsterdam, Adam Back @adam3us and Giacomo Zucco @giacomozucco, Seed Signer @SeedSigner were knighted as honorary members of the Noderunners.
Now what are Noderunners? Well, that's easy:
-Run a node
-Be a Bitcoin maximalist
-Being toxic is much appreciated
We started Dutch maximalist meetings (shitcoining=ban).
This blew up, legendary meetings followed, and the group was getting bigger and bigger.
The cult within a cult is growing and becoming a household name in the space. Value-based communities are the new organization model. Dutch Noderunners show the way. I am happy I am part of the group.
https://twitter.com/onthebrinkie/status/1713160088981004569
https://twitter.com/onthebrinkie/status/1713264646159831316
Although I enjoyed the conference I have some criticisms.
A blasphemy that people are buying full-price tickets just to witness and hear the same talk you already can find on YouTube, Github, or even on my IG page.
There is no groundbreaking news coming out of these conferences, nor is there any revolutionary knowledge transfer taking place.
More of my critics are in line with @starbuilder on stacker.news: https://stacker.news/items/283541
For example, the level of shit-coiners on the panels and sponsors.
Do you want to attend next year's conference? Great! For newbies, the conference is something people should experience at least once so that they appreciate the smaller conferences. Even someone on a budget could skip the conference ticket and just lobby / offsite parties in the area.
➡️ Here are the stats for the side events
https://twitter.com/BitKassaNL/status/1713571733368664416/photo/1
➡️ HODLers are stronger than ever! Long-term holders now own 76% of the circulating supply (14.859M Bitcoin), and they're accumulating at a rate of over 50k BTC per month, suggesting that Bitcoin's supply is tightening.
➡️Great write-up by Sam Callahan. So many questions about "Project Atlas" and curious to see that the DNB (Dutch Central Bank) is involved.
TLDR: Project Atlas would provide regulators with a global overview of Bitcoin flows, and what entities are involved with what transaction, and their magnitude and concentration.
"It's notable that CoinJoin is on the reader of these regulators. I expect it will only be a matter of time before they attempt to ban CoinJoins. So if you want to CoinJoin your stack, it might be smart to do it sooner rather than later."
https://twitter.com/samcallah/status/1712128988611563803
Full paper: https://bis.org/publ/othp76.pdf
Coinjoin is an optional tool that enhances privacy in Bitcoin transactions: when Bitcoin users conduct transactions with one another using Coinjoin, they obscure the origins and destinations of the funds, greatly enhancing their privacy.
If you have no clue what a Coinjoin is, study/learn here: https://bitcoinmagazine.com/technical/a-comprehensive-bitcoin-coinjoin-guide
➡️Caroline Ellison testified that SBF instructed her to “keep selling BTC if it's over $20K.” The Bitcoin they sold were stolen customer funds. FTX sold customers' Bitcoin without their consent. Likely, at least in part, to support the price of FTT and stave off margin calls.
People will lose their shit when they realize that Bitvavo (EU), Binance and other centralized exchanges are doing the exact same thing, right now.
Stop using these platforms!
Use @npub1536…pswl
@npub1sqz…vk7v
or 21bitcoinapp.
➡️ More craptostuff, Solana:
https://twitter.com/icebergy_/status/1712587637754560915
HFSP if you still want to invest in shitcoins.
➡️There's a 90% chance that Bitcoin ETFs will be approved by the January 10 deadline for ARK's application - Bloomberg's ETF analysts Eric Balchunas and James Seyffart
➡️ "The SEC has decided not to appeal Grayscale’s court victory in the battle to convert its trust into a Bitcoin ETF. The SEC will now have to approve Grayscale's Bitcoin ETF bid if it can't find new reasons to delay or deny it."
It looks like the SEC has held back on a Bitcoin ETF as long as they could. January 2024 will be interesting.
➡️ Today, Monday the 16th of October 2023, many traders were caught off guard over $50M in Bitcoin shorts were liquidated on the fake BlackRock spot ETF approval news. Put your Bitcoin in cold storage to sit back and relax until the real pump begins.
➡️Madeira's President announces the creation of a Bitcoin business hub for innovation at Bitcoin Amsterdam 2023. Emphasizing tech development and collaboration, this autonomous region is embracing Bitcoin with open arms!
➡️New record Bitcoin hashrate! The global Bitcoin network calculates ~440,000,000,000,000,000,000 algorithms every second protecting the blockchain. Strength of the Bitcoin network since launch.
https://twitter.com/DocumentingBTC/status/1713304315991925000
➡️ "Whales are accumulating! On Oct. 14th, 16 new wallets joined the crowd of Bitcoin whales holding between 100 and 1K Bitcoin. This is the greatest daily increase since February 2022."
➡️ Bitcoin on exchanges continues to decline as we enter less than 200 days until the halving. Currently at levels not seen since early 2018
💸Traditional Finance / Macro:
👉🏽7 stocks are holding up the entire stock market. Never has market direction been so driven by just a few stocks that are all technology-focused.
The S&P 7, now reflects a record 29.7% of the entire index by market cap. This is up sharply from 20% at the beginning of 2023 and above the 29.1% high in 2021. Meanwhile, the S&P 7 is up over 50% and continues to drive market direction. The remaining 493 stocks in the S&P 500 are currently up just 3% in 2023.
Put another way, when you invest $1 in the S&P 500, almost 30 cents of that dollar goes to just 7 stocks. The rest of that dollar goes to ... 493 other stocks. Amazing.
Personally, I think this is unsustainable, but who am I? Please ask your favorite stockpicker about his/her view on this matter.
🏦Banks:
👉🏽Realtors, banks, and home builders associations begging the Fed to stop raising rates. Not a good look.
They wrote a letter to Fed Chair Jerome Powell and are asking for…
1. No more rate hikes
2. The Fed to “not sell off any of its MBS holdings until and unless the housing finance market has stabilized”.
👉🏽World's banks earned $1.3tn in 2022, in the best period for global banking overall since at least 2007, according to McKinsey. The estimate for 2023 profits, at $1.4tn, is even higher. The spike in global interest rates has broadly been great for banks, which are not passing those higher rates on to their depositors.
source: https://www.axios.com/newsletters/axios-markets-8c7f997f-168f-49cf-b471-c726901bf78b.html?chunk=0#story0
Say what... 'earned'? Anyway,...bankers gonna bank!
🌎Macro/Geopolitics:
👉🏽Chinese property developer, Country Garden, failed to make a debt payment after apartment sales dropped in September. Country Garden said its sales have come under “remarkable pressure" and are down 44% this year. In September, Country Garden’s sales plummeted 81% to just $846 million. Country Garden is one of China's largest developers with $187 billion in liabilities. This comes just 2 months after China's largest property developer, Evergrande, filed Chapter 15 bankruptcy. Meanwhile, the Chinese HY Real Estate index is down ~85% from its high. - The Kobeissi Letter
This isn't going to end well and NO the world economy is NOT strong. A big part of China's growth was/is connected to its real estate market. Housing alone accounts for 25% of China's entire GDP.
"A bank run has begun in China at the Bank of Cangzhou on fears that the collapse of Evergrande made them insolvent. Just a couple of months ago, China's largest property developer, Evergrande, filed for Chapter 15 bankruptcy. This week, Country Garden, another major Chinese developer, missed a debt payment." - TKL
👉🏽Once again higher for longer. "In September PPI inflation unexpectedly rose to 2.2%, above expectations of 1.6%. Core PPI inflation rose to 2.7%, above expectations of 2.3%. This is the first jump in Core PPI since April 2022. PPI inflation is now up 3 consecutive months. And if we take into account the revision that will come next month, core PPI could rise to 3%."
Why? "There were just major revisions higher in the August PPI inflation data. Headline and core PPI inflation was revised higher by 0.4% and 0.3%, respectively. Data revisions continue to favor higher for longer." - TKL
"All the headlines say that inflation is now 3.7%. But, what they fail to mention is that this is building on YEARS of inflation. 3.7% inflation is building on 8.2% in September 2022 and 5.4% in September 2021. That means that inflation since September 2021 has been nearly 20%. Furthermore, even if the rate of inflation is falling, prices are still RISING. Many people confuse disinflation with deflation. Even with disinflation, which we have now, prices are still rising" - TKL
1. That number is misleading as it leaves out gasoline, shelter, used cars, and food prices in the calculation. Sure inflation has come down, now that they removed from the metric everything that human beings need to live:
food, energy, shelter, and transportation.
2. Remember ladies & gentlemen: Few understand the following and I quote James Lavish:
"If you work 40 hrs/wk: at 5% inflation and after 5 years, you need a 28% pay raise or to work 44 more hours (*one full extra week* per month+) to make up the difference. This is inflation." Now check that number again.
3. "While CPI inflation is at 3.7%, inflation is much higher in many basic necessities:
1. Car Insurance Inflation: 18.9%
2. Car Repair Inflation: 10.2%
3. Transportation Inflation: 9.1%
4. Rent Inflation: 7.4%
5. Homeowner Inflation: 7.1%
6. Food Away From Home Inflation: 6.0%
7. Meat & Poultry Inflation: 4.8%
While headline inflation is down from its highs, many basic necessities are still seeing 5%+ inflation. It's also worth noting that we do NOT have deflation, we have disinflation.'
👉🏽"French nuclear production in September was ~50% higher than September last year. 2023 production (so far) is 11% higher than Jan-Sept production in 2022. France is putting the recent difficult times behind it. That will reduce EU air pollution and CO2 emissions and will reduce power costs. Hopefully, it will also mean that cherry-picked arguments by nuclear opponents will fade."
France is interconnected with 6 European countries: the UK, Belgium, Italy, Spain, Switzerland, and ......Germany.
In my view, nuclear must be part of the energy mix and every country should embrace it.
👉🏽Ray Dalio now believes there is a 50% chance of World War 3 erupting. From a global pandemic and lockdown to World War 3 possibilities in just 3 years. Classic!
Some of you know that I am a big fan of Dalio's books. I am not going to say that I agree with Dalio, but it's worth internalizing a lesson from history now and then.
👉🏽If you made it this far, I salud you.
Lyn Alden's October newsletter is worth the read. She discusses the US fiscal situation in the context of recent events, and how history can be a guide for navigating this current environment.
https://www.lynalden.com/october-2023-newsletter/
👉🏽Argentina is currently experiencing 138% annual inflation. Their central bank has hiked to 133% in an attempt to reduce demand. Argentine Peso crashes as Presidential Candidate Calls it “Excrement”.
Milei has a 74.2% chance of winning the upcoming elections. Interestingly, Milei favors the dollarization of the Argentine economy and considers the local peso worthless. With Javier Milei surging in the polls, the current administration abolished the income tax a week before the Argentine presidential elections.
Now I want you to read that again.. "abolishes the income tax".
Imagine you are 60 years old and your government does this.
"The obvious question should be:
What the fuck have I been doing paying income tax all this time if it's this easy to get rid of it?
There's no reason to believe that this won't happen in other countries. And there's only one way to pay for something like this:
More debt, money printing, inflation, and the destruction of your time and energy.
But they're willing to do that (and more) to save their own asses.
Taxes are extortion, inflation is theft.
That's why we Bitcoin.🧡
I am trying to be less of a "gloom and doomer"... but stuff like this (segment Traditional Finance & Macro Economics) isn't helping my optimism.
Credit: I have used multiple sources!
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @npub1sqz…7vis especially suited for beginners or people that want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.
⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It's that simple.
⠀⠀⠀⠀⠀⠀⠀⠀
Is this post helpful to you? If so, please share it and support my work with sats. #zap 🧡 #weeklyrecap #nostr #plebchain #grownostr #stacksats
https://image.nostr.build/cc1cf9fed8e856ae5243ac84c49ed10d6fd4208379528e04b3049636745b7e7b.png

2023-10-14 17:51:36

Hence the bleeding!🤣🤣
Never change @npub1rtl…jtfs https://image.nostr.build/0a10f1f5dcac42ca1b08cc156f5ca9a19f071ad7c7cafacfc76481ba5ea8f2dd.jpg

2023-10-14 05:21:50

- reply

Bitcoin, no shitcoins, run a node, Bitcoin maxi.
Ergo: Noderunners

2023-10-13 09:12:14

We are Noderunners!🧡
#zapathon #bitcoin #nostr #plebchain #grownostr #zap #pleb #bitcoinamsterdam #noderunners https://image.nostr.build/6d20eebf71e778e0f67982f6926ffbe72c848920e1f11584360fbdb8db4a4475.jpg

2023-10-12 16:21:16

Connect the world meetup this evening in the Braai! See y’all there?
#zapathon #bitcoin #nostr #plebchain #grownostr #zap #pleb #bitcoinamsterdam #braai https://image.nostr.build/0cec66d30bdae839480c8144acb8ba1ecdc2f010928c8cd7282fade0ab0ebb66.jpg

2023-10-12 07:26:25

Bitcoin Amsterdam 2023
Here we go!🧡
#zapathon #bitcoin #nostr #plebchain #grownostr #zap #pleb #bitcoinamsterdam

2023-10-03 05:17:57

Can I say that Bitcoin incentivizes peace and fiat incentivizes war? Just a thought.
#zapathon #bitcoin #nostr #plebchain #grownostr #zap #pleb #peace #fiatwar https://image.nostr.build/cf98c4072cee657cb64d245acd0a0e484924ae00a837f3a29614334d4fcc133d.jpg

2023-10-02 17:27:06

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LFG!!!

2023-09-24 10:19:09

- reply

Not sure. I can not find any other information.
Enjoy your weekend!🧡

2023-09-22 08:39:07

Bitmain has launched its new series of Antminer Bitcoin mining devices.
They’re a huge improvement in hashrate and efficiency over existing devices.
The S21 Hydro Model has a hashrate of 335T and an energy efficiency ratio of 16J/T; numerically, it is the most powerful Bitcoin mining machine currently.
The S21 Air Cooled Model: is 200T and a 17.5J/T.
Bitmain revealed the Antminer S21 at its World Digital Mining Summit in Hong Kong this week, the latest, most powerful, and most efficient Bitcoin ASIC miner yet from the Bitcoin mining ASIC manufacturer.
"According to a Bitmain representative, the company expects to manufacture at least 50,000 units per month (50/50 air-cooled and hydro-cooled) for the next 8 months, but the company may produce as many as 100,000 per month if there is sufficient demand.
Bitmain expects to begin shipping the first round of Antminer S21 units in December, but it will ship the bulk of its new S21 inventory in Q1 and Q2 of 2024."
This all while Bitcoin hashrate continues to rise, and smashes through a new ATH!
For more info read the following article:
https://hashrateindex.com/blog/what-is-the-antminer-s21-everything-to-know-about-bitmains-latest-asic-miner/
#zapathon #bitcoin #nostr #plebchain #grownostr #zap #bitcoinmining #pleb #antminer https://image.nostr.build/6ad51ad77cfb4ba33d823c65ff1bc8e37c8ecd6eecd824aafaa3839577f90bec.jpg https://video.nostr.build/6f3cad3757070a61b26a116a7907e558049454129d230ec738188eb304ea1798.mov

2023-09-20 14:16:05

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Good morning / good afternoon fam!🧡

2023-09-13 18:09:16

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Really? My bad, I should’ve verified the quote.
I know that half of Einsteins quotes were just not appropriate for our simplistic modern public/ social media. His quotes were often long-winded and speculative and he changed his mind a lot.
Thanks for the info, I will do some research!

2023-09-13 18:01:29

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Big time!🙊👀🤣

2023-09-13 17:45:18

The entity that spent $510K on a single Bitcoin transaction fee was PayPal.
Apparently, due to a software bug and it took them 24 hours to realize and halt withdrawals.
Future of finance!😬💀
#zapathon #bitcoin #nostr #plebchain #grownostr #zap #memes #pleb https://image.nostr.build/9e4f22ed3639f6e3972b6c3df735831feb8bb70b89aced28eb306513aeb2f918.jpg https://image.nostr.build/b2152cd9a78db9c5c854d905c71a6e7c59a2ed12ac1cc4913ad43faa0fd8ff45.jpg

2023-09-13 13:21:35

Overall US CPI moved up to 3.7% in August from 3.2% in July. 2nd straight month with an increasing YoY inflation rate! 😬 🙊
few understand the following and I quote @npub1cj9…0efa :
"If you work 40 hrs/wk: at 5% inflation and after 5 years, you need a 28% pay raise or to work 44 more hours (*one full extra week* per month+) to make up the difference. This is inflation."
Albert Einstein reported said “Compound interest is the eighth wonder of the world. He who understands it earns it. He who doesn’t pay it.”
It is aptly said, what compound interest gives, inflation takes away. Put it another way - inflation is effectively the reverse of compound interest - it's like decompound interest.
My savings account: Bitcoin🧡
#zapathon #bitcoin #nostr #plebchain #grownostr #zap #inflation #pleb https://image.nostr.build/2dcee3ea319b5f67f4fbf4ade75cce9cdb62cd1301d5c2bd2f05219d259dc95d.jpg

2023-09-11 17:17:43

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GM / Good afternoon or good evening fam🧡🔥

2023-09-11 07:50:48

Good morning Nostr!💜🧡
My workplace for today.
#zapathon #bitcoin #nostr #plebchain #grownostr #zap #art #pleb https://image.nostr.build/ac34fe2abb77a83a56f6e83fa931908e4640ae4eeabf2b9c86f0005b44ee4eee.jpg

2023-09-07 05:48:28

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GM🧡

2023-09-07 05:13:21

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Received the same message a while ago. I can still earn some sats and also earn the in game sats without giving away my phone number.

2023-09-06 17:42:04

Just ffs stay humble & stack says!
GM / good afternoon or good evening Nostr💙🧡
#zapathon #bitcoin #plebchain #grownostr #zap #memes #pleb https://image.nostr.build/c7af5559eb79b7a6b56e0e39f721451aec9ada13fb89b61840d2044b6e681dba.jpg

2023-09-06 17:39:41

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The energy narrative around Bitcoin is a fascinating one, isn't it? So much negative news and yelling and yet so much opportunity and net positive impact.
Unfortunately, many financial influencers with a lot of following, mainstream media but also politicians are still citing and using the dishonest thesis of Alex de Vries aka. Digiconomist.
I am happy the narrative is shifting a bit.

2023-09-06 15:31:49

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Congratulations 🧡🎉

2023-09-06 15:31:02

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Enjoy your week!🧡🔁

2023-09-06 13:23:28

Turns out the claim "Bitcoin energy usage is comparable to the global energy use of tumble dryers" is wrong. It's comparable to tumble dryers in the US. Source: Cambridge
Cambridge revised down Bitcoin energy estimates. I quote Daniel Batten:
"Key points:
1. CCAF model overestimated by 16.8% in 2021, and 10.2% in 2022. This is in alignment with my previous research where I suggested earlier this year that their model was overestimating by 20.6% https://batcoinz.com/improving-our-estimate-of-bitcoin-energy-consumption/…
2. Clear evidence that GreenpeaceUSA's claim that Bitcoin used "as much energy as Sweden" was incorrect, and was based on CCAF historical overstatements
3. CCAF says explicitly that based on new estimates: Bitcoin energy use is "comparable to ... tumble dryers in the US"
4. CCAF has not yet revised its emissions estimates beyond the direct impact of revised energy consumption.
5. They are still overestimating emissions by 67.6% due to emission intensity calculations that are both overestimated, and out-of-date (have not been updated since Jan 2022). This is an improvement upon the previous estimates which were out 106% (https://batcoinz.com/accurately-dynamically-calculating-bitcoin-network-emissions/…)
6. Re: 5 above, CCAF acknowledges: "Emerging concepts we have yet to consider but could reasonably be expected to lower our emission estimates include the potential to mitigate methane emissions by mining operations collocating next to oil fields and utilizing otherwise flared natural gas, using and subsequently sealing orphaned gas wells, and mitigating methane emissions from landfills, but also extend to other novel concepts such as waste-heat recovery.
7. While there is still much work to do on the emissions estimate side, CCAF should be praised for updating their model, which is now very much in line with what those with up-to-date industry data such as Luxor, Marathon, Blockware, Coinmetrics, the Bitcoin Mining council and I have been using for some time. They also deserve praise for their transparency about historical overestimations, and transparency about the factors not yet considered that could "reasonably be expected to lower our emission estimates". I agree: 57 M t CO2e/year will reduce to a figure more like my model which says 34 Mt CO2e/year once the impact of off-grid miners and methane mitigation is factored in.
8. Key details from the CCAF report Full report: https://jbs.cam.ac.uk/2023/bitcoin-electricity-consumption/
"The backbone of our previous CBECI methodology was the assumption that every profitable hardware model released less than 5 years ago equally fuelled the total network hashrate. This, however, led to a disproportionally large number of older devices compared to newer ones in our assumed hardware distribution"
…we decided to thoroughly re-examine the ASIC mining hardware distribution generated by our previous CBECI model and cross-check the results against other metrics from publicly available data. We found that more recently released equipment appeared to be underrepresented, and equipment nearing the end of its lifecycle was overrepresented.
…we will explore the consequences of these changes when applied retroactively. The first and most noticeable discrepancy appears in 2021, where our previous CBECI model estimated an electricity consumption of 104.0 TWh, 15.0 TWh higher than the revised model estimate (89.0 TWh). The 2022 estimate was adjusted downward by 9.8 TWh, from 105.3 TWh to 95.5 TWh. To put this in perspective, the revised figure is comparable to the electricity consumption of countries like Belgium (83 TWh) or the Netherlands (113 TWh), [31] the energy use of tumble dryers in the US (108 TWh)
Emerging concepts we have yet to consider but could reasonably be expected to lower our emission estimates include the potential to mitigate methane emissions by mining operations collocating next to oil fields and utilizing otherwise flared natural gas, [32] using and subsequently sealing orphaned gas wells, [33] and mitigating methane emissions from landfills, [34] but also extend to other novel concepts such as waste-heat recovery. [35]"
Source: https://www.jbs.cam.ac.uk/2023/bitcoin-electricity-consumption/
& Daniel Batten (Twitter)
Narrative is shifting!
#zapathon #bitcoin #plebchain #grownostr #zap #memes #pleb #bitcoinenergyfud https://image.nostr.build/897e473cf54493161333808ec7cf1b5279c63877cd4385b38e5f5c0097572bb2.jpg

2023-09-06 13:23:26

2023-09-06 13:12:20

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Too long?

2023-09-04 13:29:30

World debt has rapidly increased since 1997.
(Please study the Asia crisis and the ramifications - click on the link)
And is now around $225 trillion.
Again, this is not sustainable.
https://www.thebalancemoney.com/what-was-the-asian-financial-crisis-1978997 https://cdn.nostr.build/i/f8e99cd1dbe38adcab0b541cc5b990b2065088dfc96ebff2cb9e3628f144a131.jpg

2023-09-03 20:42:49

🧠Quote of the week:
"Bitcoin is the best-performing asset in the history of humankind.
Bitcoin is the 13th most valuable asset on Earth out of thousands.
Bitcoin  is the 20th most valuable currency in the world out of 200.
Bitcoin is the most valuable financial item on the planet.
Bitcoin is the most secure network in the entire galaxy.
Bitcoin has accomplished all of these things before its 14th birthday, and yet to some, Bitcoin has failed.
What planet do these people come from, and what is the weather like there? I'm curious."
-Oliver Velez
🧡Bitcoin news:
➡️ Wallets with more than 10 Bitcoin are now at a 3-year high of 157,352.
➡️ Bitcoin hash rate is going absolutely parabolic, smashing through 400TH/s & and another ATH.
Longest bear market ever and yet the hash rate of Bitcoin has never been higher. I’d say that’s a great sign
➡️ 800,000 Bitcoin (over $20B) has been pulled from exchanges in the last three years. And for the first time in history, Bitcoin withdrawals from exchanges have surpassed deposits for three consecutive months. Investors are learning that not your keys, not your 'cheese'. Self-custody is on the rise.
➡️Bitcoin balance on exchanges just reached a 5-year low of 2,238,653 Bitcoin
I quote Joe Burnett: "Outsiders think it's crazy that ~70% of Bitcoin holders don't touch their coins even after the price of BTC has fallen 70%-80%. However, holders recognize they possess the only immutably scarce commodity known to man. And it's becoming 2x more scarce in ~ 8 months."
➡️ On the 28th of August, nine years ago today, Hal Finney passed away. Hal was a pioneer, cypherpunk, and was the first person to receive a Bitcoin transaction from Satoshi Nakamoto. He gave us PGP encryption, reusable proof of work, and support for Bitcoin when the project needed it the most. RIP to the cypherpunk and the man who tested the first-ever Bitcoin transaction. His contribution to the network can never be discounted and shall remain eternal.
➡️ Bitcoin mining startup Nodal Power raises $13M to turn trash into BTC. Nodal Power, a company that develops and operates landfill gas to energy power plants, today announced that it has raised a $13 million seed round to aggressively mitigate methane emissions at landfills.
Yes, you read that right. Converting waste -> energy -> globally decentralized digital money. This is just the beginning…
➡️ U.S. Appeals Court rules SEC wrongly rejected Grayscale spot Bitcoin ETF. That does not mean that GBTC is automatically converting into an ETF however.
“ETF approval could open the floodgates and allow the everyday investor get Bitcoin in their brokerage accounts”
Bloomberg analysts have increased their odds of a spot Bitcoin ETF being approved this year from 65% to 75%. They put the odds of it being approved by the end of 2024 at 95%. Meanwhile, the SEC decided to delay their decision on the Wisdom Tree, Invesco, Galaxy, and Valkyrie spot Bitcoin ETFs for another 45 days. BlackRock / IShares spot ETF delayed. The next deadline has been pushed to 10-17-23. If it gets kicked again (which is expected), we won’t see it until 2024 at the earliest.
Anyway, Blackrock is a shareholder in 4 out of the 5 largest public Bitcoin miners. That's all you need to know.
I quote @preston : "I’m convinced Blackrock won’t green-light the SEC (you read that correctly) to approve the BTC ETF until Binance is destroyed or so insanely crippled that its market dominance is done. Gary is Larry Fink‘s lap dog"
I couldn't agree more.
➡️Roughly 20% of all Bitcoin in circulating supply is held by investors who have 10 Bitcoin or less. Does adoption from this cohort look like it's slowing down or getting faster? Does it signal a potential shift towards a more decentralized wealth distribution?
➡️ So far in 2023, Bitcoin has hit new ATH in the following currencies:
Argentine Peso (ARS) - 10.2M Pesos on 14th Aug.
Turkish Lira (TRY) - 820K Lira on 19th July.
Lebanese Pound (LBP) - 480M Pounds on 13th July
Venezuelan Bolivar (VES) - 920K bol. on 15th Aug
Please remember, It’s not Bitcoin going up; it’s the others going down!
➡️ Cambridge revised down Bitcoin energy estimates. In the upcoming days, I will write a post on this topic with more insights. But basically what we have seen in the last 3months is that the narrative around Bitcoin & and Eneryg is shifting:
- Cambridge admits Bitcoin energy calculations overstated
- 2 academic papers (incl. MIT) state the environmental benefits of Bitcoin
- KPMG reports Bitcoin has a positive ESG rating
💸Traditional Finance / Macro:
🏦Banks:
👉🏽"Current unrealized losses in the US banking system is -$1.8 trillion out of only $2.2 trillion capital. With corporate taxes due Sep 15 & possible gov shutdown Oct 2, the general public has no idea the banks are already insolvent entering a nightmare liquidity scenario in October" source: Dr. Roubini.
As mentioned in one of my stories last week, Roubini can be a bit of Dr. Doom and Gloom.
Still, if you connect the above with the FED's BTFP it is maybe not that Doom and Gloom, but a possible reality.
👉🏽"Emergency loans at the Fed's BTFP have hit a new high of $107.52 billion. Usage hasn't risen for 12 weeks. Why? Regional banks are dumping consumer loans to shore up losses instead of using BTFP. Packaging loans into ABS, and selling them—which now yield their highest since 2008." Joe Consorti
"Total emergency loans from the Fed's BTFP facility have hit a new high of $107.39 billion. Banks' losses on impaired US Treasuries continue being papered over." -Joe Consorti
If you have no clue what the BTFP is?
Short version: It is just kicking the can down the road. Or read the explanation in last week’s Weekly Recap.
🌎Macro/Geopolitics:
👉🏽 According to the Fed's own "best indicator" the probability of a recession is at its highest level since the 1980s. The interesting part is that the "Soft landing" narrative is now the consensus. This also happened in 2000 and 2006. Both instances ended up in severe recessions. While it's always a possibility, trading with the objective of time a recession timing is not worth it. The market tends to have many fakeouts before a macro recession happens.
👉🏽"US National Debt has now increased by $1.45 trillion since the debt ceiling was suspended 3 months ago and is fast approaching $33 trillion. In the past five years, the national debt has increased by 53%, from $21.4 trillion to $32.9 trillion."
Infinite Supply vs. Engineered Scarcity
Choose wisely.
👉🏽 7 stocks are propping up the entire stock market. Three weeks ago, 7 S&P 500 stocks were up +70% YTD. These 7 stocks, a handful of technology stocks, accounted for 75% of the ENTIRE Nasdaq's gains this year. Meanwhile, the other 493 rose only 4%. Can that be sustainable? Even with recent volatility, technology stocks are still holding up the entire market. Markets are betting on AI and they are all-in.
👉🏽Germany's inflation dropped to 6.1% while Core inflation stagnated at 5.5%. The unemployment rate in Germany has risen to 5.8%, the highest level since May 2021. So Germany's unemployment rate is rising and inflation is rising in Germany too! What do you call that? S T A G F L A T I O N
"In economics, stagflation or recession-inflation is a situation in which the inflation rate is high or increasing, the economic growth rate slows, and unemployment remains steadily high. It presents a dilemma for economic policy, since actions intended to lower inflation may exacerbate unemployment."
👉🏽Eurozone inflation remained stuck at 5.3% in August, higher than the 5.1% that economists expected. Core inflation, which excl volatile energy, food, alcohol & and tobacco prices & closely watched by the ECB as a measure of underlying inflation, slows to 5.3% in August from 5.5% in July, matching expectations.
Excluding energy, Eurozone CPI rose 6.3% YoY. Energy is the only component where YoY inflation was negative. Food inflation is still stubbornly high, around 10% (processed food 10.4%; unprocessed food 7.8%). Services inflation is still rising at 5.5% YoY. This means that currently, energy is negative, once it goes positive, CPI moons higher.
Sticky inflation will cause further rate hikes, which will not bring down inflation or employment fast enough, prolonging the battle and making for a rough, elongated stagflation cycle.
🇺🇸Now let's have a look at some U.S. data:
👉🏽"The US jobs market continues to slow. The unemployment rate jumped to 3.8% as household surveys showed the number of unemployed people up 514k. The establishment survey added 187k jobs, a bit better than 170k expected, BUT employment in June and July was revised down by 110k in aggregate. Monthly wage growth slowed to 0.2% from 0.4%. Markets interpret data as dovish. 2y yields plunge 7bps to 4.78%." Holger Zschaepitz
👉🏽 US job openings are at 8.827 million, the lowest level since September 2021.
👉🏽45% of student loan borrowers expect to go delinquent when payments resume on October 1st.
There is $1.569 trillion in federal student loan debt. What happens if these 45% of student borrowers can’t pay down their loans? - Joe Consorti
Great read on this topic: https://thebitcoinlayer.substack.com/p/45-of-student-loan-borrowers-expect
👉🏽 "Personal spending growing 4x as fast as personal income... that means spending is propped up by debt, not assets"-Chief Investment Strategist, Charles Schwab & Co.
👉🏽 Delinquencies on auto loans, credit cards, and consumer loans just hit their highest levels since 2012. As both rates and prices rise rapidly, delinquency rates are skyrocketing. - The Kobeissi Letter
👉🏽 "July PCE inflation, the Fed's preferred inflation measure, rises to 3.3%, in line with expectations of 3.3%. Core PCE inflation rises to 4.2%, in line with expectations of 4.2%. This is the second inflation metric that jumped in July." - The Kobeissie Letter
4.2% is more than double the Fed's target of 2% inflation. The rise in the US Core PCE Price Index YoY indicates that inflation is increasing, which could lead to higher interest rates and tighter monetary policy by the Federal Reserve. The inflation battle continues.
Opt out: Bitcoin🧡
Credit: I have used multiple sources!
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @npub1sqz…7vis especially suited for beginners or people that want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.
⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It's that simple.
⠀⠀⠀⠀⠀⠀⠀⠀
Is this post helpful to you? If so, please share it and support my work with sats.
#zap 🧡 #weeklyrecap #nostr #plebchain #grownostr #stacksats https://cdn.nostr.build/i/71688976c710f40fe0380f7424dcb30009be8c2777dce45841a8207b7456aca5.jpg

2023-09-02 17:10:41

Ah great,
dystopian hell hole.
What could possibly go wrong 🥴👀
And yes, that's why we Nostr!🧡💙 @npub1s5y…6q7z
#zapathon #bitcoin #nostr #plebchain #grownostr #zap #sovereign #pleb https://cdn.nostr.build/i/959c48532e4254be5cfc5324231b0bcc24f6749f61219e5392de51a4ceafb8bf.jpg

2023-09-01 05:05:18

GM #nostr 💜🧡
#zapathon #bitcoin #plebchain #grownostr #zap #memes #pleb https://cdn.nostr.build/i/a7fe4f07351575dcf7203090ad5fd9a4fa9a2b03b67235a2369244663ea23d71.jpg

2023-08-31 19:23:06

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Thanks Lyn! Keep up the good work🧡

2023-08-23 12:31:39

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Good morning / Good afternoon!🧡 https://cdn.nostr.build/i/a0e4a07b103ad267bf70d7d7d3a4a551ce1d34c674cb7504dff1eee8d6275484.jpg

2023-08-17 20:54:30

Don’t do shitcoins
GN!
#zapathon #bitcoin #nostr #plebchain #grownostr #zap #shitcoins #memes #pleb https://cdn.nostr.build/i/6f84efdeb9865ceace9c9f6c69caeb49f1bd4997b10de084db41de601be83b5a.jpg

2023-08-14 18:33:02

🧠Quote of the week:
"If you get sad when the price of Bitcoin goes down it shows that fiat matters to you.
If you get happy when the price of Bitcoin goes down it shows that BTC matters to you." @npub18cs…jpjh
Bitcoin news🧡
➡️ Libertarian and pro-Bitcoin candidate, Javier Milei, has taken a commanding lead in the Argentinian primary elections:
“Se les termina el chiste de la maquinita”
“The fuckery of their money printer is coming to an end”
Great video: https://twitter.com/ho_fernandez/status/1690917479214678016
"In the video, he believes that:
-The central bank is a scam controlled by politicians with inflationary taxes.
-Bitcoin represents the return of money to the private sector creator.
-Bitcoin is safer to transact than silver & gold.
-Bitcoin's algorithm caps its supply & prevents inflation.
-Governments won't give up their fiat currency.
-Bitcoin is the natural reaction to put money back in the hands of the people.
-He concludes that it's time to shut down the central banks."
Argentina's inflation is already at 114% and its population is looking for answers.
Bitcoin is about to break through the 10,000,000 Argentinian Pesos milestone, having increased by over 85X since 2019!
➡️ SEC approves 2x leveraged Bitcoin futures ETF but DENIES spot ETF
➡️HODLers have never had more conviction Long-Term Holder supply just hit a record-breaking 75% of circulating supply (14.59Mn) while volatility is at an all-time low. Diamond hands!
➡️ All the CrYpTo influencers came out with the news that PayPal will launch a stablecoin on Ethereum, citing a 'shift toward digital currencies'. Explaining how great this would be. How this is another example of the use case for Ethereum. Even here in the Netherlands, some platforms shared the news as if it was a big thing & a good thing.
They, shitcoin lovers/crypto influencers, forget to mention that PayPal stablecoin gives the company the ability to freeze and wipe your assets.
So-called “stablecoins” are permissioned fiat, corporate versions of CBDC.
"The new Paypal USD stablecoin has an "assetProtection" role which can wipe your balance in two transactions (first `freeze`, then `wipeFrozenAddress`) In smart contract security we call this a "centralization attack vector".
➡️ A new peer-reviewed piece highlights how Bitcoin mining could help renewables and drive decarbonization of the grid. The study highlights Bitcoin's positive impact as "a potential contributor to renewable energy penetration and net decarbonization of the energy grid."
Funny isn't it that the (negative) narrative around Bitcoin completely shifted after BlackRock etc. made it clear they wanted to invest in Bitcoin BlackRock insiders say spot Bitcoin ETF approval is expected in "four to six months".
Roughly two months before the halving.
Meanwhile, another paper coming from the mainstream media in favor of Bitcoin Mining. "Bitcoin has transitioned from being an energy waste to a potential asset (at least in public view)."
You can read the full paper here: https://www.mdpi.com/2078-1547/14/3/35
➡️ Currently, 13.3M hodlers (1+ year) control the supply against 6.1M (Less than 1+ year). Never have we seen such a wide discrepancy between these two cohorts.
➡️ Bitcoin mining firm Core Scientific will exit bankruptcy proceedings amid a $77mn deal with Bitmain. Bitmain will acquire a $54 million stake in CS in exchange for 27,000 Antminers.
➡️ In 2022, Bitcoin has processed over $8.2 trillion in transactions, or $260,000 every second. #VISA processed less than $6 trillion in transactions, while #Mastercard - only $2.5 trillion
➡️ Chairman of $385B Private Equity Group: "The mighty BlackRock is willing to have a Bitcoin ETF, maybe Bitcoin is going to be around for a while."
➡️ Number of Bitcoin addresses holding 1+ and 0.1+ bitcoins both just reached an all-time high...
➡️ Which countries have the Lightning nodes with the most Bitcoin? 387.33 Bitcoin 94.98 Bitcoin 85.76 Bitcoin
➡️ Coinbase becomes the first publicly traded company to launch its own decentralized blockchain, Base. Now read that out loud, but very slowly. Especially the bit: ITS OWN DECENTRALIZED...OWN
➡️ The BMC estimates the YoY Bitcoin hash rate increased +70%, efficiency +24%, and sustainable energy mix improved to 59.9% based upon H1 2023 survey results of BMC members representing 43% of the worldwide mining network.
https://bitcoinminingcouncil.com/bitcoin-mining-council-survey-confirms-year-on-year-improvements-in-sustainable-power-and-technological-efficiency-in-h1-2023/
➡️ In the 2nd quarter, Riot was able to bring down their average cost to mine 1 Bitcoin to $8,389
💸Traditional Finance / Macro:
🏦Banks:
👉🏽Last week I mentioned the following quote by Joe Consorti: "The Fed's BTFP facility is $105.6 billion in size. Unrealized losses on US Treasuries total $1.1 trillion. That means roughly 1/10th of duration losses caused by the Fed's rate hikes are being papered over. That's a pretty big band-aid."
The Fed's BTFP facility has now risen to another all-time high of $106.86 billion in outstanding emergency loans.
🌎Macro/Geopolitics:
👉🏽 "US inflation a tad lower than what economists expected: US July CPI accelerates to 3.2% YoY from 3% in June vs 3.3% expected, BUT the first acceleration after 12 consecutive months of decline. Core CPI slows to 4.7% YoY from 4.8% in June as expected. Shelter costs contributed to about 90% of the increase in July CPI. Fed Swaps price in lower odds (20%) of another rate hike this year."
👉🏽 "In August 2022, the US Senate passed a bill to hire 87,000 new IRS agents to investigate citizens' finances. In November 2022, the US Pentagon failed its fifth consecutive audit, unable to account for 61% of its $3.5 trillion in assets." Let that sink in for a minute. (Source Watcher Guru)
👉🏽 I have shared numerous times the great analyzes made by 'The Kobeissi Letter'. They are always right on point concerning the US debt spiral & deficits and the markets in general. Last week they came up with the following tweets:
"The US government has spent an alarming $6.7 trillion over the last 12 months. This is up 14% since last year and just shy of the $7.6 trillion record during 2020. We are now spending just $900 billion less than a period when $4 trillion was handed out. The worst part? Over the last 12 months, the US deficit is at $1.4 trillion. This is up $1 TRILLION compared to last year. Simply put, this is unsustainable."
It is a wrecking ball and it can't be stopped.
👉🏽 "Interest rates on a 30-year mortgage are now at their highest in 23 years. New homebuyers are now spending a record 40% of their income on a mortgage. Meanwhile, the median sales price of a home in the US is at 560% of the median annual income." Again, unsustainable.
👉🏽 "In the US, interest rates on household items are skyrocketing. In just 1 year, the average interest rate on credit card debt has gone from 14% to 21%+. New car loan rates went from 4% to 8% while used car loan rates are at 12%+. Mortgage rates are at a fresh high of 7.2%, up from 2.7% in 2021. How can the average person afford any of these items?"
Consumers don't load up on credit after rates go from 15% → 25% for fun. They do it because they're running out of money.
👉🏽 The US just published their budget numbers showing a $221 BILLION deficit in July alone. With $276 billion in receipts, the US spent a massive $497 billion last month. Total interest on US debt YTD is now at $726 BILLION. Deficts are always a spending problem.
👉🏽 "The Congressional Budget Office, using *generous* inflation & interest rate forecasts, is openly projecting deficits as a % of GDP to rise each and every year this decade, while debt/GDP rises to 200% by 2050." - Dylan LeClair
- Bonds are no longer the safe option - Financial Times
👉🏽 "Where other countries are fighting #inflation, #China has entered full #deflation mode! CPI -0.3% PPI -4.4%." -Jeroen Blokland
China sees deflation for the first time since COVID Robin Xing, chief China economist at Morgan Stanley says policymakers “need to accelerate all the government spending, raising government debt to break this debt deflation trap."
👉🏽 "The bond market is telling the Fed it's done with rate hikes. There's just a 15% chance of a September rate hike being priced into fed funds futures and a 21% chance of one in November. The Fed is now expected to start cutting rates in early 2024, according to market pricing"
Great timing, exactly when the Bitcoin Halving starts!
I want to end this weekly recap with a great tweet by Sam Callahan:
"A recent audit of the Bank of Lebanon showed:
1.) Officials likely embezzled over $300 million to family members and close associates
2.) They implemented a nationally-regulated Ponzi scheme to explode the national debt
3.) They hid $76 billion in losses from the Ponzi scheme by cooking their books, failing to meet basic accounting standards
Meanwhile, the Lebanese pound has lost 98% of its value against the dollar, inflation sits at 254% YoY, and many Lebanese have been driven into poverty.
Bitcoin is a monetary system that can't be controlled, manipulated, or abused by a small group of central bankers. Stories like this will soon be a thing of the past."
Now remember this bank had KYC & AML procedures. We will see this happen in the future, as the same people want to implement CBDCs.
Credit: I have used multiple sources!
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @npub1sqz…7vis especially suited for beginners or people that want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (Youtube) for more info.
⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It's that simple.
⠀⠀⠀⠀⠀⠀⠀⠀
Is this post helpful to you? If so, please share it and support my work with sats #zap🧡
#weeklyrecap #nostr #plebchain #grownostr #stacksats
https://cdn.nostr.build/i/a8f107a0c63bb516b9b20c5f556c722c7279cef5d0d9251b7072405f4262ee40.png

2023-08-06 20:23:22

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🧠Quote of the week:
"Why is it that 5 000 units of our currency is worth one unit of your currency, where we are the ones with the actual gold reserves? It's quite evident, in fact, that the aid is not coming from the West to Africa, but from Africa to the Western world." Mallence Bart-Williams
#Bitcoin news🧡
➡️If you are intrigued by the Quote of the Week, please have a look at:
https://bitcoinmagazine.com/culture/bitcoin-a-currency-of-decolonization
Oh by the way: "France has the fourth largest gold reserves, 2.436 tons without a single gold mine in France. Mali, which was occupied by France, does not have any gold reserves in its banks, although it has 860 gold mines and produces 50 tons per year. How did France get all that gold?"
Again read the Bitcoin Magazine article by @npub1trr…hdpu.
➡️Last week I mentioned:
Bitcoin: digital commodity (private property)
Everything else: digital securities aka shitcoins
Richard Heart, shitcoin HEX, is sued by the SEC for securities fraud. I quote Jameson Lopp:
"Over the past 2 years, HEX has lost an astounding 98.8% of its market cap: $83 billion. Richard says he tried to save people from BlockFi, Celsius, and such... but according to my math, HEX lost more value than all of those bankruptcies combined!"
Just don't play around with altcoins. If you invest in a VC-funded token with a pre-mine an ICO, and an executive team, is most definitely NOT a commodity. It’s a security. Bitcoin is the innovation. Bitcoin is a digital commodity (private property). Know the difference.
➡️ US Presidential candidate Ron DeSantis: “Biden’s war on Bitcoin and cryptocurrency will come to an end when I become president.”
I will reshare my opinion: Be wary of politicians who promise to give you exactly what you want. Politicians are just politicians! Bitcoin doesn't need politicians, politicians need Bitcoin (and votes). Don't lose the plot. And stop larping! Stay humble & stack sats.
➡️ MicroStrategy enters into an agreement to sell $750 MILLION worth of Class A Stock in order to buy more Bitcoin. In July, MicroStrategy acquired an additional 467 BTC for $14.4 million and now holds 152,800 BTC and counting. Sjeeezzzz talking about conviction.
➡️Michael Saylor on CNBC: There is Universal consensus around the world that Bitcoin is:
- A decentralized global asset that has value
- Has no issuer
- Is the Gold Standard of digital commodities
➡️ Coinbase finally considering adding Lightning. Funny isn't it?! Now that their security-scammy-shitcoin casino is at risk. Let's switch to the alpha dog, Bitcoin!
➡️ "In closing, Bitcoin appears to provide a number of benefits across an ESG framework."
KPMG published a report on all of the ways Bitcoin and PoW check the boxes on ESG mandates!
https://advisory.kpmg.us/articles/2023/bitcoin-role-esg-imperative.html
I quote Daniel Batten on this topic:
"KPMG approach to writing a Bitcoin research paper Talk to
- Grid operators who understand Bitcoin
- Energy experts who understand Bitcoin
- Renewable energy and Methane mitigation operators who understand Bitcoin
Greenpeace USA's approach to writing a Bitcoin research paper
Cite articles by
- Journalists who do not understand Bitcoin
- Academics who do not understand Bitcoin
- Other environmental organizations who do not understand Bitcoin"
The only thing I can say, sources matter!
➡️ Bitcoin hashrate geographical distribution at an all-time high
➡️ Payment company Block Inc. reported $1.87bn of gross profit in Q2 2023, a +27% year over year. Among the %5.5. of total net revenue of $2.4bn came from Bitcoin.
➡️ Ethereum is down 27% against Bitcoin since becoming 'ultrasound money.'
More ETH news: An academic paper investigates how Ethereum is a criminal’s first choice for cybercrime:
“We identify more than 1.78 million transactions that are externally verified to be linked to cybercrime, corresponding to an aggregate amount of $1.65 billion of funds lost. In a first step, our analysis shows that the FTC understates the amount of abducted funds on the Ethereum blockchain by a staggering factor of 16.”
Yikes! Just stay humble & stack sats!
➡️Genesis Digital Assets is expanding its U.S. operations, having announced the opening of three new Bitcoin mining data centers in South Carolina. Founder Kim: "Given its abundance of clean electricity from hydro and nuclear energy sources, we consider South Carolina one of the country's most exciting states." He added that it's among the most "pro-innovation states." Source Decrypt
➡️ Now that the news is out that Australia is heading toward a totally cashless society. May I remind you that almost in everything in life you need trust. Governments need trust, Bankers need trust, and Shitcoins require trust. The only thing that is trustless is Bitcoin. Bitcoin will eliminate the need for bankers.
Now why is there a war on cash? I quote Ronin Dojo on Twitter:
"Because it is difficult to track, to confiscate, to impose regs/tax on. It is censorship resistant and you have full custody. No third party to 'clear tx' and quick settlement. Thankfully we have Bitcoin and P2p digital cash is here to say."
If you aren't paying attention, you probably should be. Have a look at platforms like nostr:npub15369wu3wzzar5fclhecyqfv683x69n6nhlg7rxqnsg2dydgxflpq3apswlBitcoin.
💸Traditional Finance / Macro:
🏦Banks:
👉🏽 I quote Joe Consorti: "The Fed's BTFP facility is $105.6 billion in size. Unrealized losses on US Treasuries total $1.1 trillion. That means roughly 1/10th of duration losses caused by the Fed's rate hikes are being papered over. That's a pretty big band-aid."
🌎Macro/Geopolitics:
👉🏽United States ratings were cut to AA+ from AAA by Fitch.
“The downgrade of the United States reflects the expected fiscal deterioration over the next three years, a high and growing general government debt burden, and the erosion of governance relative to ‘AA’ and ‘AAA-rated peers over the last two decades."
Meanwhile Jeanet Yellen: “Fitch’s decision is puzzling in light of the economic strength we see in the United States. I strongly disagree with Fitch’s decision, and I believe it is entirely unwarranted.”
The economy is very fine! Everything is just fine!
Now there are only 10! The number of AAA-rated countries is extremely limited. 9 countries receive an AAA rating from all three major rating agencies (Fitch, Moody's S&P)
👉🏽"The US saw 340 bankruptcies in the first 6 months of 2023. This is more than the first half of 2020 when the US went into a full lockdown. It’s the highest number of first-half bankruptcies since 2010." - GangesPost
The numbers speak for themselves I would say. If you thought the last 3 years were hard?
Let's see what will happen in 2024/2025. Why?
Well, the Fed economists recently released research inferring that 37% of all U.S. companies are in financial distress. That’s more than a third of all U.S. companies that might default in the coming months if interest rates don’t come down according to market expectations.
As we know from last week's Weekly Recap, the Fed raised interest rates to the highest level in 22yrs.
👉🏽The Treasury's new guidance is that they want to borrow $1.85 trillion during the second half of this year. Apparently, that’s what happens when you remove all debt ceiling limits. Repeat after me: "DEBT SPIRAL!"
"The US Treasury boosted its estimate for federal borrowing for the current quarter as it addresses a deteriorating fiscal deficit and keeps replenishing its cash buffer.
The Treasury Department increased its net borrowing estimate for the July through September quarter to $1 trillion, well up from the $733 billion amount it had predicted in early May." - Bloomberg
"Total US debt levels are expected to rise from 98% of GDP in 2023 to 118% of GDP in 2033. By 2053, Debt-to-GDP in the US is expected to hit an alarming 195%."
Politicians spending like drug addicts and throughout history, we’ve seen societies crippled by their own debt. Will the US be the next one? Let Bitcoin be your insurance for the upcoming bankruptcy of the US and the devaluation of the dollar.
If you have no clue what is happening now I encourage you to read the book "When Money Dies" by Adam Fergusson (British historian).
👉🏽Average 30-year mortgage in the US just hit 7.32% — its highest since 2000.
👉🏽The Bank of Japan had to intervene twice last week to slow gains in government bond yields, underscoring its determination to curb sharp moves in rates. The BoJ announced they will print more yen to buy $2.1 billion in bonds. This comes just days after they decided to take a shift away from decades of massive monetary stimulus by allowing the 10-year bond to rise up to 1.0%.
👉🏽IMF staff and the Argentine Authorities Reach Staff-Level Agreement on the Fifth and Sixth Reviews of the Extended Fund Facility Arrangement.
Once again, Argentinean people getting screwed!
"The 46 million Argentines have lost over 96% of their value against the USD in only 5 years.
2018: 1 USD = 20 Argentine Pesos.
2023: 1 USD = 545 Argentine Pesos.
Fiat economists still can't explain why Bitcoin has increased by 3500% since 2020 in Argentina!"
Bitcoin has hit multiple new ATH in Argentina and this is after the IMF restricts banks from dealing in Bitcoin as a condition of their loan restructuring.
The IMF cartel is so scared of Bitcoin, they paid $44-$45 billion to stop people in Argentina from using it. Inflation was 55% at the time of the loan. Currently, inflation in Argentina reached 114%.
And it's not only Argentina, but also Venezuela, Lebanon, and for example Turkey. 166 million souls are rekt by their governments.
I will end this weekly recap with the following TLDR by Eric Weiss:
* US doesn’t have the $ to pay its debt
* US credit rating downgraded
* US will print more USD
* USD inflation will continue
* Bad for holders of USD
* Good for HODLers of Bitcoin
Credit: I have used multiple sources!
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan:@npub1sqz…vk7v is especially suited for beginners or people that want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (Youtube) for more info.
⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It's that simple.
⠀⠀⠀⠀⠀⠀⠀⠀
Is this post helpful to you? If so, please share it and support my work with #zap🧡
#weekly recap #nostr #plebchain #grownostr #stacksats

2023-08-06 08:01:28

Now that the news is out that Australia is heading toward a totally cashless society.
May I remind you that almost in everything you need trust.
The only thing that is trustees:
#Bitcoin
Bitcoin will eliminate the need for bankers!
#zap
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2023-02-27 19:45:15

Bitcoin fixes this!
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