To put it simply, it was the moment Richard Nixon moved off the gold standard and the fiat system was born. I firmly believe that the next generation/s will look back and deem this as a dark, dark moment in mankind’s history and yet, most people don’t even know what it is.
With regulation looming, altcoins are in for a rude awakening. They will most certainly increase regulation on Bitcoin exchanges over time, but Bitcoin itself will keep evolving and circumventing. This is what it does best. Decentralisation is everything. It is the entire point of crypto. But most people fail to realise what this actually means. It is what makes Bitcoin indestructible and thus, so valuable. It is what makes Bitcoin the only competitor to the Plutocrats. Bitcoin is Us. Everything else is Them.
Bitcoin is a complex subject and there is an enormous amount of information to sift through and make sense of. Unfortunately, there is also a lot of misinformation and misunderstanding surrounding Bitcoin so we have done a bit of myth-busting. We want to continue with our Bitcoin Basics this week and focus on some misconceptions that many have about Bitcoin. If Facebook, Twitter and others can do Fact Checking – so can we.
There are a lot of possibilities this year and the biggest short-term factor will undoubtedly be what Central Banks decide to do. Dovish or Hawkish – either will drive the price.
In the long-term, however, it doesn’t matter. This is why we implore people to have a long-term perspective on their Bitcoin holdings.
As Bitcoin adopters put in more time and effort to understanding this asset, we will likely see this asset move from risk-on to risk-off, with a lot of volatility in between.
Sit back, focus on the things that matter, don’t try to time the markets, stack more Sats, have a long-term perspective and enjoy the ride.
Have a great year ahead!
We are taking a thorough look at what’s happening in Turkey and what similarities it has with South Africa’s past, present and potentially, it’s future. The ANC is not the only corrupt government on this planet. Unfortunately, the fiat system has led central powers down a dark road where greed is endless, money printing is easy, and thus the fiat roads are all leading to zero. We can exit all of this madness. There is an incorruptible, uncontrollable, decentralized, scarce asset called Bitcoin, that is the complete antithesis to this all and the ultimate hedge against inflation.
You may have heard about the famous exchange hack on Mt. Gox where hundreds of thousands of Bitcoin were stolen from users. Bitcoiners learnt a very valuable lesson from that, and since then around 75-78% of Bitcoin is kept in cold storage, and off exchanges.
This wasn’t the last hack. There was one 2 months ago, on the Japanese exchange, Liquid, where around $80m in Crypto was stolen.
This is a topic most Bitcoiners have thought about, but few actually implement. The brutal reality of being a Bitcoiner at this point in time …
Bitcoin self custody is vital for anyone who wishes to remain un-cancellable and censorship resistant in their personal capacity. Cancel culture is running wild through our culture and Bitcoiners will be in the firing line sooner or later.
The Bitcoin ETFs are exchange-traded funds that track and mimic the value of Bitcoin. These are traded on traditional market exchanges and allow individuals and more importantly, institutions to indirectly invest in Bitcoin, without having to own or custody it themselves. In other words, the Bitcoin ETF will allow investors to seek return via the Bitcoin price, without actually owning the asset themselves.
Bitcoin is a complex subject and there is an enormous amount of information to sift through and make sense of. Unfortunately, there is also a lot of misinformation, scams and alike on social media platforms, so we wanted to share the best sources to learn about Bitcoin.