Former US Treasury Secretary Mnuchin Says His View on Bitcoin 'Has Evolved'What Mnuchin said? ” While he personally does not want to have bitcoin in his portfolio, he says if people want to buy the cryptocurrency, “that’s perfectly fine.”
Perfectly fine? With Bitcoin, I can have my own bank with a non-custodial wallet and private key. With Tor connection, I can have privacy for my transactions. With fiat, CBDCs, will I get privacy for my capital transations? Will I have my own bank? The answer is No. Bitcoin is more than perfect.
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Can't see anything particular in the news, or is there? EM? China? Anything I'm missing?
Market correction. A massive campaign globally to attack Bitcoin and crypto market. They are expected because Bitcoin grows sharply since the second half of 2020. The pull back is necessary to help Bitcoin getting its new all time high. If you don't believe in any model or a new all time high for Bitcoin, you can exit. You can skip a future of new all time high but should enjoy bounces from Bitcoin, at this price. Bitcoin Historical Corrections - Don't worry |
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Upgrades for Bitcoin need to get consensus from miners on the network. The last vote for Taproot to lock in is an example: https://taproot.watch/Miners have to signal their support and help to lock in Taproot. It is a decentralized consensus but satoshi does not call it as DAO. Locked In: Bitcoin’s Taproot Upgrade Gets Its 90% MandateAccording to the parameters set forward by “Speedy Trial,” if at least 90% of the blocks mined in any of the designated two-week difficulty periods “signal” their support for the upgrade, then the activation process can begin. To be more precise: 1,815 out of 2,016 blocks mined within a period have to include a little piece of encoded information that indicates that the miners who mined those blocks are in favor of the upgrade.
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Not only Zcash but other privacy coins too. Monero, DASH, Grincoin, BEAM, they are all waiting for a privacy coin season. Those privacy coins have very lovely charts and I see they are completing their accumulation phases, just waiting for break-outs. In the last two years, privacy coins are the less gains in the market. Soon they will have their season. |
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I no longer call it a joke because I started believing that it is a malicious attempt at market manipulation. It is the same strategy as the pump and dump groups when they call their sheep followers to buy or sell certain coin. They first amass some followers then they give them buy/sell signals but only for bitcoin trying to make money by capitalizing on the signals they artificially produce.
They moved old coins when the market needs a movement. I believe those guys have too many bitcoin and are very smart. They reserve their old bitcoin for future plans, for such movements. They are whales and their actions prove they are whales. Assume that they bought first 1000 Bitcoin at 5 cents, then bought 1000 Bitcoin later at $1. They had a plan for 1000 BTC at 5 cents, don't use it for years and only take profit, trade with 1000 BTC they bought at $1. After 10 years, their old coins have big power on the market. After 20 or 30 years, the power might be bigger than now. Crazy plan. Small investors will not make long term plan, and are not be able to reserve their old bitcoin for years. Small investors even struggle to complete their plans for a few months. |
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Gold, silver, oil, wheat, sugar, cotton, platinum, nagtural gas, corn, copper ... simply everything is traded in USD. USD "is crap" - 25% of supply was printed last year. Does that mean that all commodity that are being traded in USD will go to 0 together with USD crash? Or rather they will all moon in USD price ??
USD in particular and fiat currencies in general. It is not a new story about inflation, hyper inflation was created by the pandemic. Goods market (wheat, sugar, cotton, corn, etc.) was risen by the pandemic. Fear of lack of goods and money printing from governments help wheat, sugar, etc. grow a lot in value. It's a bubble USDT was a big thread before 2020. Now stablecoins like USDC, BUSD, DAI, TUSD, PAX are getting stronger and stronger and have 70% of tether marketcap now. USDC has bigger volumes in main trading pairs on DEX exchanges. Tether failure and thether FUD is my dream come true scenario. We will see huge dump and great buing opportunity. Price will recover very fast.
Stable coins are affected by the assets they are pegged with. It can be affected by USD, GBP, gold, etc but if fiat currency and the world economy has great recession, stable coins will not be safe. |
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Bitcoin has its price today because it is a Proof-of-Work cryptocurrency. Miners have inputs to mine Bitcoin and have to spend it every day. It is different than Proof of Stake cryptocurrency, when you only have to buy coins, buy VPS and stake it on VPS.
Other things are know: no more Bitcoin than 21 Million.
If you follow Willywoo or Glassnode on Twitter, you will know that miners and hodlers are accumulating Bitcoin, and total active users on Bitcoin network is increasing, even during the dip. Remember because it is important, increase during the dip, not in bull time.
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They have a reason for the delay, and that is to perfect the system before the launch, they know very well that their competitors are taking this opportunity to launch their own chain or bridge their chain we are all going to benefit if they launch their system in the right time, any way we have a good alternative in Binance Smart Chain.
It's going to be a good competition and will enhance users' experience once they launch so we have to be patient and wait.
Ethereum is big platform and if you look beyond cryptocurrency, big corporations like Google have challenges to any internal reconstruction for strategies, staffs, ... Sundar Pichai is very carefully and slowly to make important decisions of appointments for Google. Vitalik and Ethereum team have to been as most carefully as possible for the upgrade because any fault will be terrible. They don't want another DAO hack. Ethereum nowadays are the second giant in cryptocurrency industry and they don't want to lose it just because an upgrade. |
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Well, I don't think that Steve had only profit on his mind when he said this! I believe he was referring to what Bitcoin really is, and how helpful can be for uniting the world...
I don't think we need to rely on Steve to know Bitcoin is better than Gold. With Bitcoin, you have privacy and borderless transactions, digitalized, decentralized and so much more. Bitcoin's total supply is unchangeable 21 million. Gold's total supply is infinite because human can mine more gold on Earth or on other planets. |
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Professional traders are traders who can be able to cut loss quickly. They don't hesitate to cut loss and close their positions with a draw.
As traders, they know the market will give them other entries, and closing a position is not bad. Traders don't mind much about trend, what they mind is entry and exit price for their temporary position.
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Economists are traditional ones and they mostly can not accept what Bitcoin brought to the world, change the world, and made the financial party becomes more decentralized.
Most of them are old enough to reject new terminologies and weird technology. In fact blockchain technology has no longer been weird after more than 10 years of growth.
Some of them oppose Bitcoin and crypto because they want to protect what they love and what they are familiar with, under central bank control.
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The project goes through a very long adventure and 2020 is a year that marks a milestone of this project. This decentralized lending from LEND is very great but the project did not grow too much because of bear market. 2002 when the crypto winter was melted down, and DeFi became a trend, LEND is one of the most impressively performed altcoins.
Institutional lending will help AAVE going to mainstream more intensively. |
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NFT is a big game and if you consider it is a game, you should be cautious about risk. Game, risk, earning and loss, your responsibility is to protect your capital.
Joining NFT or not, it depends on you, I don't give you financial advice to join any NFT. You are free to join with your money.
But think of risk and be aware that it is a game only.
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If many influential/giant whales post messages expressing support for Bitcoin, or expressing that they have purchased Bitcoin, will they promote market changes?
Influential people or influencers have many followers that could be hundreds of thousands or millions so that any tweet from them will be viewed by many followers. Some of them will be affected by tweets from influencers. Some from millions would be not a small number that will be reflected on the market. If they enter the cryptocurrency field back and forth, whether cryptocurrency is not considered free and easy
New projects can give you free coins through airdrops, faucets, bounties, promotion but when they grow up, you always have to buy coins. No longer free coins for matured projects. The market is over, and everyone is following the whale operation. Although the market needs volatility, is this kind of random volatility still meaningful?
Mr. Market is always lively and does own actions and the market has never been over. People watch whale operations every day and they wait for reactions, news, tweets or big in- or out-exchange transasctions from whales. |
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Cleantech, DAO and Cryptocurrency Sustainability in the $PIVX Blockchain.
"Our project and DAO can work PIVX into being sustainable through cleantech partners, even on the blockchain."
Recently, an article was published comparing the energy expenses of the global banking industry, Bitcoin mining, and the user/financial protection project PIVX. The gist of it is simple enough; it takes energy to make money work. In the case of the legacy banking industry, it takes enormous amounts of costly power. However, this time we’re changing course to discuss an important editorial comment in that article
Bitcoin is a beast and PIVX can not beat Bitcoin but DAO is a future and $PIVX has DAO that will be an attractive character of the project. Proof of stake is cleaner than Proof of Work I can not agree more. PIVX's source code is used by many altcoin projects that a recognition of its position in Proof-of-Stake ecosystem. Without the source code from PIVX, the market would not have too many PoS altcoins but PIVX is leading again with DAO. |
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BullionStar is the place where Digital Gold team stores securely real gold reserves. They are one of the most known services like this on the market right now and Digital Gold team is their official client. Everybody can check at any time how much real gold Digital Gold team have stored in BullionStar vault. "Live audit report from BullionStar vault storage - https://www.bullionstar.com/myaccount/audit - BuillonStar Account number: 17081" The information is publicly given on the website: https://gold.storage/en/homeEach GOLD token is 100% backed by physical gold stored in secure vault. Amount of physical gold stored can be verified at any time. Click on verified, and there you go to audit page. All information are there. If new guests don't know and feel than impossible to remember where to check, please book mark that page.  |
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Just DAO It
Thank you for the weekly report! DAO will change the world more and BEAM is a very good privacy coin. In the two recent years, 2020 to 2021, BEAM team have worked very hard and have built up good platforms. Many upgrades and releases have been made. All of them are foundations for future growth. The BEAM project need to have big communities and it will be a long term target for the project. BEAM deserves better price than it has now. |
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The only reason they hold meme tokens is due to its tokenamics, "passive earning" "Earning doing nothing", it becomes the playground of hyip players and wherein the early birds always wins. But 95% of holders of meme tokens are on the losing side where only 5% or less makes money.
What passive earnings they are attracted to are not real. It will only become real earnings when they take profit. Crypto market changes very much in 24 hours and today earnings can become serious loss tomorrow. Tokenomics of those meme tokens, DeFi are bad. Hyper-inflated and their passive rewards will not be enough to compensate the loss of price falls. Let's call it as passive losses. |
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I think the dropping of the bitcoin price is not a down trend it is maybe a short correction
It is not a short correction and you can call it as a mini down trend that can stay with us several months. look at the price and the movement or volume in the market. We can really say that the bitcoin has a big chance to rise before the end of this year. And I think if the price drop down below 20k$ that time we can maybe say that we are in a down trend situation but for now I think we are still in the bullish season.
Bitcoin will need to have to complete its accumulation after that it can be warmed up for the next bull run. Bull run will be big but I think you can enjoy a warm up time in late of 2021 but the real big bull run will be in April 2022. It won't happen too soon as you hope in my opinion. |
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