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.
A recap of the top Bitcoin news stories this past week including the US’ latest inflation figures, Russia embraces Bitcoin and Canadian Truckers moving to the Bitcoin Standard.
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.
Fidelity, one of the largest asset managers in the US with $11.1 Trillion under management, released a surprisingly detailed report about Bitcoin and the importance of ‘getting off zero’ Bitcoin.
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.
A recap of the top Bitcoin news stories this past week. Intel a $240 Billion company, Intel, just announced they are entering Bitcoin mining. They will be introducing an ‘‘ultra-low-volatage-energy-efficient’ ASIC which is specifically designed for Bitcoin mining. There are currently two main ASIC manufacturers in the world right now – Bitmain and MicroBT, both Chinese-based.
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!
Happy new years, happy 13th birthday to Bitcoin and finally we would like to introduce you to the new Bitvice – where we’ve made buying and securing Bitcoin simple.
Whilst Bitcoin’s price has been boring people to death, we’ve been hard at work and have partnered with Stitch to make buying Bitcoin the right way – as easy as possible.
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.
The funny news for the week… It seems that El Salvador’s president Bukele has become a ‘toxic maximalist’ who’s taking a liking to trolling world powers. In other news, Microstrategy bought the dip – big time and a Bitcoin price floor model by Plan B has just been broken.