Oh great, the fear is spreading wide once again over the crypto markets, and Bitcoin along with its cohort of altcoins are all tanking right now. What should the reason be? Inflation, CPI announcements, war, malnutrition, Biden, Mickey Mouse having flatulence...
I don't know and I personally don't give a fuck, although I basically live off this thing. I'm not expecting any bull market until mid-2024 or something like that and I'm fine with volatility... I took the risk of indigestion when I ate the Bitcoin cake. But sir, wasn't Bitcoin supposed to be a hedge against inflation?
It was, but so far it isn't. Inflation just hit 10% in Germany, that being the official numbers of course, and I don't see any news about Germans hoarding Bitcoin... The time has come, but not for everybody ;).
Side story time...
A friend of mine bought a piece of land in a small village nearby two years ago, and for almost one year the man is been dealing with shitty bureaucracy in order to "get the papers done" so he can start building on the damn land. On his damn bought land. Not so fast buddy...
You basically need to fill out a formal application for every damn approval you need from the city hall and he's probably gonna fill a small container of such paperwork until he will actually start working on the land to build the house he has in plans.
Believe it or not but, we haven't yet escaped the "pen and paper" era. The system is so dated and constrictive at the same time and the more I get to deal with it the more I see how valuable applied blockchain technology is.
Bitcoin took 6 months to get 1000 users; 5 years to find 1 million users.
Today, 13.8 years from inception, it has 300m+ users, 4% of the world.
At current growth rates, 1 billion users will be hit in the next 3 years. That's 12% of the world.
source
Sounds good, right? And I would really love to see these words coming from Willy Woo come true, but is it really going to happen? Are we gonna have 12% of the world population owning Bitcoin in three years' time? I doubt that, but I don't doubt the desperate need we have for crypto and applied blockchain technology.
As per a recent tweet by Candace Owens, Kanye West was reportedly removed as a client from JPMorgan Chase. A letter titled “Closing of Our Banking Relationship” was addressed to the rapper. Oh, wait, that's not all for today in terms of "recent proof of banking oligarchy". There's more on the same tone...
PayPay HK has halted services for the League of Social Democrats (LSD) – one of the remaining active pro-democracy groups in Hong Kong – due to unspecified “excessive risks”. For a few years now we are starting to see how centralized and authoritarian the banking system is, and what do plebs do?...
They're selling their Bitcoin/crypto right now. I haven't checked the news on why the recent dump might have occurred, but it is clear the plebs are not seeing crypto as a lifeboat. Yet... I do, and despite all the FUD out there, I'm confident. It's the only thing that gives me hope for a future free world in the middle of all the turmoil we currently have.
That's about it for now. I hope everyone has a great day and see you next time.
Thanks for your attention,
Adrian