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Humble Bitcoiners!
It's Monday again.. Happy Labour day! While you celebrate, get your coffee ready, stack some sats and sit down for your daily dose of Bitcoin signal!
Tomorrow is the day Bitcoin becomes legal tender, and the community is getting together to show support for El Salvador and to commemorate the country's law making the open source, decentralized, debasement-proof currency legal tender. Some of us are stacking $30 worth of our local fiat into Bitcoin.
Stacking sats means thinking of a better future for yourself, and the entire network. |
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Today's Rundown: - Scarcity: The fundamental structure of bitcoin ensures its price will appreciate.
- Bitcoin Saves The Day: As inflation heats up, bitcoin offers an escape.
- Not Crypto: The difference between Bitcoin and Crypto is becoming more apparent.
- Bitcoin Before Gold: Survey finds most Russian investors prefer Bitcoin over Gold.
Let's do this. |
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Bitcoin's Price Rises Rapidly Due To Absolute Scarcity
By Siby Suriyan
The fundamental structure of bitcoin quite literally ensures that bitcoin’s price will go up.
In this piece, the author explains the definition of scarcity, and it means for bitcoin.
It is not often known that scarcity can be differentiated into two categories: relative scarcity and absolute scarcity.
- Relative Scarcity - Gold
- Absolute Scarcity - Bitcoin
The main difference lays in the possible response to an increase in demand — with relative scarcity, there is possibility to increase the supply to some degree, while with the latter, there is no additional supply response to meet that increased demand. As bitcoin supply is completely inelastic, the only variable that can change in the dynamic is the price — it goes up. |
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LEARN BITCOIN. EARN BITCOIN. |
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As Global Inflation Heats Up, Bitcoin Saves The Day Many contributing factors have led to a rise in inflation, which bitcoin offers an escape from.
Jerry Goddard's essay is an interesting reflection on what the world has gone through during the last year and a half in terms of monetary policy and regulations due to COVID-19, with a perspective on how this influenced the stock market and asset prices, which ultimately will end up directly contributing to consumer price inflation. With a broken monetary policy and political instability around the world, the global nature and limited supply of bitcoin make it an excellent hedge against inflation, a safe heaven for investors and normal citizens.
"In fact, the price proliferation of bitcoin as inflation increased during the Covid-19 pandemic, is enough evidence of its massive potential as a hedge against inflation. Suffice it to say, the cryptocurrency has positioned itself as a safe haven for investors with the rising inflation." - Jerry Goddard
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Click the links:
1. Fear, greed and awe — the three rails to Bitcoin adoption and how the Bitcoin Tree Forum can help.
2. Lesson on Hard Money: A film about a thief and a princess is intertwined with an all-too-familiar inflationary ideology.
3. Although the price of bitcoin remains relatively stable, there is reason to believe a major breakout is imminent.
4. The biggest bitcoin exchange in Latin America is the new sponsor of Corinthians, one of the most popular football clubs in Brazil.
5. A report about the state of Bitcoin and cryptocurrency in Australia for August suggests that 56% of Australians believe Elon Musk invented Bitcoin.
6. Bloomberg said Bitcoin is set to reach $100,000 soon and become the world's reserve asset as its unique properties become more evident. |
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Bitcoin Is Separate From "Crypto"
By Marty Bent The difference between the two is becoming more and more apparent as bitcoin is poised to challenge the world’s monetary system.
Marty Bent shares his thoughts on the difference that separates Bitcoin from Crypto. As Bitcoin evolved, few different narratives have filled the media, and they seem to be conflating bitcoin as a part of the "technological cryptocurrency movement." According to the author, the real importance of Bitcoin is its monetary policy and the public's confidence that the policy will be respected in the long run. The focus is not, and should not be on speed, app building and being less "energy intensive," but in creating a stable infrastructure for the future money of the world. |
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Survey Finds 77% Of Russian Investors Prefer Bitcoin To Gold, Forex
By Namcios
The Russian Association of Currency Brokers (AFD), conducted a local forex organization's survey which found that most Russian investors prefer bitcoin to gold and forex as an investment.
The results of the survey were outstanding: - 77% of the investors were planning to invest into bitcoin
- Only 23% of the investors have never used it before
- Only 7.6% were strongly opposed.
The results clearly demonstrate that the tide has shifted in respect to bitcoin. It has been evolving into a pristine asset class, slowly absorbing the attention as the hedge against inflation, taking Gold's place. "The survey has clearly shown that Russian investors don't perceive Bitcoin as a "hype product" anymore but instead as a real investment." - Evgeny Masharov, AFD chief |
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By Bitcoin du Liban
The price seems to be rapidly rising — not so long ago we were ranging around $30,000 and people were "waiting" to get cheaper prices. Today, as the price goes up, and bitcoin becomes legal tender, people seem to be getting their interest back.
This is exactly the reason we bring you all the good content, because bitcoin is the best asset that has ever existed, independent of its current price. The ability to transact value without any intermediary or the possibility to censor or confiscate is just priceless.
Keep stacking! |
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