Humble Bitcoiners!
It's Friday, so get your coffee ready, stack some sats and sit down for your daily dose of Bitcoin signal!
October begins, historically it has been a good month for Bitcoin, enjoy the weekend! |
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| Today's Rundown: Can't Be Banned: U.S. has no plans on banning bitcoin. Autonomy: On the path to authoritarianism, bitcoin offers autonomy. Where To Plug?: Energy freedom incentives bitcoin miners in some U.S States. Best Time To Accumulate: Looking at metrics that help determine bitcoin price bottoms. Let's do this. |
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Federal Reserve Chair Jerome Powell: U.S. Has No Plans To Ban Bitcoin And Crypto
By Alex McShane
On Thursday afternoon during the Oversight of the Treasury Department's and Federal Reserve's Pandemic Response hearing, Federal Reserve Chairman Jerome Powell confirmed that the U.S. has no plans to ban bitcoin and cryptocurrencies.
As the interest in bitcoin grows bigger across the globe, it is within the incentives of any clever country to accumulate the most amount of bitcoin within their jurisdiction whether on their balance sheet, or within its citizens. For every skeptic out there, you can be confident that bitcoin won't be banned — therefore you can be confident on starting to build a position as insurance. For all the hard core Bitcoiners, nothing changes... "We will die on this hill.".
"No.. No intention to ban them" - Jerome Powell |
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The Revenge Of The Nodes: When 20th Century Authority Gives Way To 21st Century Autonomy
By Aaron Segal The global economy is driving toward authoritarianism, but Bitcoin offers autonomous, decentralization that can save the average investor.
In a long detailed piece, the author walk us through the macroeconomic thesis of bitcoin's enormous potential to dematerialize society, and pushing further into the digital in an effort to become even more decentralized, while governments seem to be steering into an opposite direction, one of authoritarian power and centralized management.
In the author's thesis, bitcoin represents "antifragility," and it replaces the vacuum created from an impotent corporate private market structure with something more decentralized, transporting society seamlessly towards the digital economy, while allowing individual private property rights in a space where these had previously not been assured.
“Investing spare change has become an increasingly popular strategy for new stock traders, and is a key piece of competing apps such as Acorns, Chime and Wealthsimple.”–Bloomberg
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Click the links:
1. Author Jimmy Song discusses his book "Thank God For Bitcoin" and the parallels between Bitcoin and Bible scripture.
2. President Bukele revealed gas stations in El Salvador will begin selling each gallon of fuel at a $0.20 discount for those who pay using the bitcoin Chivo wallet.
3. Bitcoin Depot, the popular bitcoin ATM network now has over 5,000 machines scattered across the U.S. and Canada to meet mainstream demand.
4. Bitcoin Magazine Podcast: Discussing how erroneous economic systems can be repaired with Bitcoin.
5. Eric Yakes creates a compelling account of how we’ve arrived at the monetary technology that is Bitcoin.
6. Keynesianism has eroded the ability for individuals to accumulate the necessary amount of capital to better their lives
7. There are several forms of bias to examine when it comes to understanding bitcoin and its price. |
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Energy Freedom Attracts Bitcoin Miners To Some U.S. States
By Namcios New research shows the stark differences between states and their energy prices, policies that will define a generation.
Bitcoin miners have one specific goal: to produce the most amount of hash rate for the minimum amount of cost, therefore maximizing the amount of bitcoin they will be able to mine. With this comes the need for accessible energy prices, and friendly jurisdictions are of utmost important for mining corporations as well as home miners.
According to data from Global Energy Institute, states like Texas and Washington have the lowest average price of electricity in the country, followed by Wyoming and Utah.
"Bitcoin-friendly states will be the ones to benefit the most from innovation and technological development in the coming decades." - Namcios |
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| As all of us dive into the bitcoin rabbit hole, we start pricing our lives in sats. The end goal becomes to accumulate the most amount of sats in order to build a prosperous future. There are different popular accumulation strategies: Dollar Cost Average (DCA) Lump sum purchase Lump sum purchase amounts will always be the best strategy ONLY IF, executed in the best time possible. Therefore many humble stackers lean in to DCA, as it is not stressful. But a combination of both could be good, and in this piece the authors show some key metrics to spot the bitcoin bottoms — moments where you will be getting better price of sats for your dollars. If you are interested in this macroeconomic insights get a FREE month trial for the Deep Dive newsletter using the code: STACK. |
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By naiive
Bitcoin is the only insurance we have in this keynesian inflationary world. As the Keynesian monetary world we are living has eroded and continues to erode the ability for humble individuals to accumulate the necessary capital to better their lives, bitcoin offers ungovernable money separated from the state.
"Stay humble and stack sats" - Matt Odell. |
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