Humble Bitcoiners!
It's Friday, so get your coffee ready, stack some sats and sit down for your daily dose of Bitcoin signal!
The second ETF has launched today! Things are getting exiting... |
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Today's Rundown: - Inflation: JPMorgan analysts say inflation is bitcoin's price driver.
- Built Different: Throughout Bitcoin's timeline, different groups of people have participated.
- Pension Funds: The first pension U.S. public pension fund invests in bitcoin.
- Solving E-Waste: Bitcoin miners offer a solution to 40 million tons of e-waste.
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JPMorgan: Bitcoin's Record Run Is Being Driven By Inflation
By Namcios This year the reports on inflation have been worryingly high, and central banks have classified it as "transitory," meaning that the population shouldn't have anything to worry about in the long term. But it has been already several months with inflation over 5%, and concerns of it not really being transitory and potentially continuing too rise have been the main driver for the Bitcoin price pushing to new highs, according to Bloomberg Analysts.
In the report, analysts also stated that even though the bitcoin ETFs by themselves are unlikely to trigger a new phase of significant new capital entering spot bitcoin, it is presumed that its helping many institutional investors rebalance their portfolios and shift from gold ETFs into bitcoin funds. |
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A Timeline Of Bitcoin And The Six Groups Who've Bought It
By Dr. Dave Elder-Vass It is no doubt that bitcoin is becoming widely accepted, but often the mainstream media narrative continues to classify bitcoiners as "naive victims of a fraudulent bubble." According to the author, throughout bitcoin's timeline, investors could be classified into 6 different groups: - Idealists
- Libertarians
- HODLers
- Gamblers
- Portfolio Balancers
- Corporate Enthusiasts
As the asset grows, new profiles will likely fit into the aforementioned classes. Read the article to find out which you best fit in — or maybe you belong to an entirely new group. |
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Click the links:
1. Discussing Jerome Powell's reappointment as chairman of the Federal Reserve, the state of central banking and more.
2. Bitcoin could help rectify malinvestment and unsustainable development, if only embraced by a currently hostile Turkish government.
3. The team behind the BitcoinDay event discusses its mission to bring Bitcoin to more small communities across the country.
4. Bitcoin allows people to opt out of systems not designed to their benefit, and creates a “network state” of like minded thinking.
5. The bitcoin price is rebounding from a 56% price drawdown, post a 228% recovery. Historically what comes next is yet another massive recovery |
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U.S. Public Pension Fund Invests In Bitcoin For The First Time
By Namcios
Bitcoins growth, appreciation and adoption are clearly undeniable at this point in time. As time has past by, it becomes a more reliable investment vehicle in the eyes of mainstream media, which made it only a matter of time for the first U.S. public pension fund to invest in bitcoin.
The Houston Firefighters Relief and Retirement Fund acquired an undisclosed amount of bitcoin through services provider NYDIG. The fund spent a total amount of $25 million, purchasing bitcoin and another cryptocurrency at an unknown ratio.
This purchase has a big potential of benefiting the HFRRF members significantly as bitcoin appreciates.
“I see this as another tool to manage my risk. It has a positive expected return and it manages my risk. It has a low correlation to every other asset class.” - Ajit Singh, the Chief Investment Officer for the fund. |
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How Bitcoin Mining Is Solving Our E-Waste Crisis
By Shinobi According to BBC, there are 40 million tons of e-waste disposed of each year. Bitcoin contributes 30,000 tons of that, representing 0.075% of all the e-waste produced yearly, compared to the 70% of toxic waste produced by society in the form of electronic devices. The difference is clear — bitcoin's environmental "problem" is not the significant one, but our society's consumerism, the desire to buy a new smartphone, television and computer every other year.
The bitcoin mining industry has previously been known for outdating its equipment as rigs have a lifespan of 1.29 years. This could be indeed classified as a huge concern if the trend were to continue, but it isn't. The modern S9 miners have been running profitable for up to five years, as the technology for longer usage is implemented.
In the article, the author goes into more detail of how this works, why rig's profitability will likely keep extending, and the incentives of reuse and repair from the bitcoin mining industry. |
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By Bitcoin Magazine
It is clear by now, bitcoin and crypto are not the equivalent, there is different purposes. Bitcoin comes to revolutionize a long due problem, the need for harder decentralized money.
If we don't have decentralization in money, we don't have freedom.
It is that simple.
Stack harder. |
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