I have a Bitcoin thread floating around, but thought it would be good to dive a little deeper into the crypto market. Anyone breathing would be aware that highly leveraged (margin debt at record levels) share markets simply do not have any correlation between current valuations and fundamentals. Fiat currency are being debased at record pace, inflation is skyrocketing, debt is at all time high globally thanks to the Eurodollar system....we are also well past peak oil which means economy will slow...growth figures will be fake and artificial. With all the risk above I have been hedging with Bitcoin, also referred to correctly (By J Powell himself) as Digital gold. However I do think there are other big opportunities in the crypto market, specifically because every other industry have been flipped by technology, except the finance industry. Bankers are still firmly in control of traditional finance, however their reckoning with technology is on the horizon, namely decentralised finance. This opens up massive opportunity of growth, potentially even bigger than that what came along with Amazon, Alphabet, Tesla, Microsoft investments. The crypto market is a massive $2 Trillion, the eco system is also massive and complex. The easiest way to navigate the market is to; start with Bitcoin stick to the blue chip cryptos (Ethereum, Polkadot, Cardano, Chainlink) however I do think it will be interesting to explore the rest of the ecosystem eventually so will probably do that at some point. Main areas in the eco system are; 1. Store of value - Bitcoin (there can be only one) 2. Smart contracts (ie insurance, Lending and staking (earning interest)) 3. Decentralised finance - mobile payments 4. Decentralised exchanges 5. Company supply chain management, file & data management, analytics, identification, web 3.0, social platforms, gaming tokens, heaps more.... 6. meh...stable coins although these are not for investment, pegged to fiat currency, to be used for swapping in and out of crypto if you are not comfortable swapping directly into bitcoin or one of the other blue chip cryptos. This is effectively more than simply opportunity, traditional markets will be hampered with inflation, high debt, fiat debasement & growth going in the opposite direction due to oil shortages. It is my personal opinion that large amounts of traditional investment funds will steadily flow into the crypto space as businesses struggle to meet their valuation expectations & fund managers struggle to match the returns of the crypto market. I therefore suggest you familiarise yourself with this space.
Crypto market is crashing in view of the Bitcoin price of $3000 a year ago... it's still over 1000% up and a bargain atm if you look at the stock to flow model that have been very accurate to date... according to this model price by the end of the year to be $100 000. Anyway let's start with 1. Store of value. Bitcoin's competitor is gold, this debate between Michael Sailor & Frank Giustra on Daniela Cambone's Stansberry Research channel says it all.
2. Smart contracts Ethereum still reigns superior in this area and the ETH price reflects this - currently (post crash) US$2683 ETH hit all time high of over $4000. I do very much like Vitalik Buterin (ETH creator), simply because unlike Elon Musk, (who have been described as a grifter by one of Dodge coin's developers) he has a heart and cares about the crypto space. Youngest Crypto Billionaire Burns $7 Billion In Coin And Plans To Gives The Rest To Charity https://www.ladbible.com/news/news-...on-in-coin-and-gives-rest-to-charity-20210517 Ethereum however has some problems and I believe they are currently working on a hard fork that will fix it. This problem however presents a gap for competitors and poses a big opportunity for investors. Ethereum revenue on the 17th of May 2021 was $722 Million, the massive growth shown in the comparrison below have also caused Ether gas fees to skyrocket, for example to transfer $800 worth of ETH can cost almost $200, this means only the very wealthy who transfer very large amounts can afford to use this service. Enter Cardano ADA Cardano's price currently US$1.60 with ATH of $2.50 only a few days ago is far below that of ETH, yet Cardano is poised to massively eat into ETH's revenue with its latest development of a one click converter the ERC20 in the final testing phase (launching around September) Ethereum (ETH) Tokens to Migrate to Cardano (ADA) Seamlessly: Ground-Breaking Concept Unveiled https://deep-resonance.org/2021/05/...-seamlessly-ground-breaking-concept-unveiled/ ADA is proof of stake which means it is green and cheap to run. Cardano have also spent years in development and testing, Charles Hoskinson the founder is also one of the founding developers of Ethereum. Below is a video that explains this feature Demo of ERC20 at 7mins for the impatient Other competitors are EOS, Stellar, Tron and Neo, however I believe Cardano presents the biggest opportunity and currently trading at the biggest discount.
I'll just add; Where is all the money that just left the crypto market, (around half a Trillion)? It's sitting in stable coins ready to pour back in. Huge buying opportunity.
https://wolfstreet.com/2021/05/20/f...ing-system-creaks-under-mountain-of-reserves/ reminds me of Fed trying to park QE
Ok so as expected the crypto market a sea of green this morning as the money start flowing back in after the leverage shakedown. continue with smart contracts.... however the blockchains often cross over and are used for many different purposes. One of the blue chip cryptos Polkadot DOT up 16% today to US$29 What is Polkadot? A Brief Introduction Polkadot is a next-generation blockchain protocol connecting multiple specialized blockchains into one unified network. Polkadot enables blockchain networks to; Scale, specialise, work together, self govern & upgrade https://polkadot.network/what-is-polkadot-a-brief-introduction/ More info at link below I'll just look at a couple of interesting things Polkadot is doing, also mention that Gavin Wood founder Polkadot was also one of the founding developers of Ethereum, along with Vitalik Buterin & Charles Hoskinson from Cardano. Acala is a platform built on Polkadot, they are teaming up with a company called Current to develop Hyfi (hybrid finance, opposed to decentralised and centralised finance, they are developing a hybrid) https://finance.yahoo.com/news/banking-app-current-teams-acala-205000641.html
I'll just return to Cardano ADA for a moment, Cardano is expected to outperform Ethereum by the end of this year. Unlike ALL of the other cryptos, Cardano have spent years in development and many scientific white papers have been written on Cardano. I think it has spent 4 years in development and testing and have a detailed roadmap on how and when each stage are to be released. Many feel this have been too slow since crypto move so fast, however I think this is shortsighted. This superb attention to detail is going to finally pay off for Cardano as there are already, (pre smart contract release of Aug/Sept) 900 Fortune 500 companies in consultation with them (see vid below). As previously mentioned Cardano is also poised to eat into Ethereum's revenue with it's one click EC20 token converter. In addition to this their ADA pay module is already built https://adapay.finance/ and they are also working with World mobile in Africa Cardano Partners with Global Telecom Company World Mobile https://newslogical.com/cardano-partners-with-global-telecom-company-world-mobile/ I believe their telecoms and transport contract in Ethiopia is also signed... (unsure, know it was in the works) Despite market crash I'm very bullish on Bitcoin, Ethereum, Polkadot and Chainlink (info to follow on Chainlink) however Cardano imo should offer highest returns this market cycle.
Crypto markets are getting HAMMERED...so is fiat, currency is being debased at record pace but no one is paying attention or rather ignoring the elephant in the room. Crypto markets are still higher than previous year levels, where fiat debasement is causing purchasing power to sink....at record levels. The irony of course is that while crypto markets are being "hammered" fiat is actually being hammered harder by the Fed....you're just not allowed to talk about it. Chainlink...ecosystem below from January 2020. Chainlink is an Oracle that runs on Ethereum but will allow cross chain transactions in the future...Chainlink function as a bridge between the blockchain and real world applications https://blokt.com/guides/chainlink
"In Human History, No Single Asset Has Come Under Such Coordinated Assault By Global Institutions" https://www.zerohedge.com/crypto/hu...tch&utm_medium=email&utm_source=zh_newsletter So why did the attack fail...it was as perfect an attack as you could possibly have, coordinated & massive on scale, media supported, even Illuminati Vatican supported....why did it fail? Because as previously mentioned....fiat is being hammered harder than crypto.... if you had $10 000 in cash a year ago, you can buy far less with it today, but if you invested $10 000 in Bitcoin a year ago, you can now still buy more with it today....even after the crash & inflation taken into account. Your money is not safe in cash...debasement & hyperinflation on the way, as well as banking bail-in laws Your money is not safe in traditional stock markets because growth will continue to decline AND stocks are even more overvalued than crypto, because the stock market; a) is not a free market and there is no correction b) there have not been a decent correction in years Gold silver? Fine if you own physical because the paper market are estimated to sell 100 x more gold and silver than there are physical... which means far more people will end up with paper than physical when the &#%% hit the fan. Crypto markets is where the money is going to go and this is why they are attacking it.... "The Fed Has Lost Control" - John Williams Warns Of Hyperinflation In 2022 https://www.zerohedge.com/economics...tch&utm_medium=email&utm_source=zh_newsletter
The Crypto market is currently the only free market in the world. Government, Central Banks along with banks and hedge funds have destroyed every other market that exist today. Housing market is in a huge bubble and unaffordable for ordinary people Share market is in a massive bubble with fundamentals & valuations completely out of whack Fiat money is being debased at record vallues and hyperinflation predicted by 2022 Precious metal prices are artificially suppressed by a paper market that are estimated to be at least up to 100x that of the actual market Bond market is in a bubble, debt is impossible to pay back for ordinary people, corporations & government... yet none of these they ever expressed any concern about....but watch out for the big bad free crypto market. And that is really the problem right there, they've used Superannuation/your 401K to prop up/stabilise/stop fluctuations in the stock market...along with unlimited amounts of fiat money and lending to ensure the value of stocks don't come down.... controlled. Housing is propped up similarly with unethical lending practices and unlimited amounts of fiat. Why is it a problem...because at any point where they change tact, the whole thing will come tumbling down...and if they don't change tact...there will be massive social unrest due to currency debasement. hyperinflation ito unaffordable housing & food prices. There is ONE market not artificially controlled...not propped up....we can't have that....must be regulated says the government. They've basically screwed up EVERYTHING else...do you think they are going to do it right this time is there no end to moronic. Decentralization Under Threat As Biden Administration Considers Implementing Bitcoin ‘Guardrails’ https://zycrypto.com/decentralizati...-administration-considers-bitcoin-guardrails/ here's to their failure
btw by now I'm sure you all know what the plan is, but I'll spell it out anyway. Achieve B then pull the pin on A Crypto markets will be the only hedge against both A & B and of course this is why they attack it.
Vechain, outside the blue chips Vechain is another of my favourites due to real life applications Blockchain supply chain solutions for companies, also product lifecycle management, data deposit, data certification, and process certification. Used by companies like Louis Vuitton, Vechain a semi centralised network is used to verify that your Louis Vuitton is the genuine article...a bit like an NFT for products...pretty cool. https://www.reddit.com/r/CryptoCurrency/comments/msvav7/vechain_explained_for_noobs/
Well said....the sooner we rid our world of central banking the better Hoskinson: Central banks will fade away, and we are the antidote https://www.crypto-news-flash.com/hoskinson-central-banks-will-fade-away-and-we-are-the-antidote/
El Salvador treat Bitcoin as legal tender El Salvador to Give Every Citizen $38 in Bitcoin for Downloading Govt Crypto App https://www.gizmodo.com.au/2021/06/...8-in-bitcoin-for-downloading-govt-crypto-app/ Great pro people move however Bitcoin can be very expensive to transact in, Ethereum too, I read elsewhere Charles Hoskinson is scheduled to visit El Salvador. Personally I only transfer funds in ADA (Cardano) these days, it is dirt cheap. Cardano would be a great addition to the Bitcoin move for El Salvador, you already have ADA Pay for merchants. Bitcoin a store of value, the best and highest performing asset in the world. If you keep for example a 90/10 ratio of Bitcoin and Cardano you could make your payments in Cardano and use Bitcoin as your savings account. Having said that Cardano is predicted to outperform both Ethereum and Bitcoin this Bull cycle...which I believe we have just entered into. Of course there are the usual detractors, IMF, WorldBank and Central Bankers yelling from the sidelines, threats and fear mongering...these people have an invested interest in keeping you poor. Mexico's billionaire also had some interesting pro Bitcoin remarks Mexican Billionaire: I Recommend Use of Bitcoin, My Bank ‘Working’ to Accept BTC https://www.cryptoglobe.com/latest/...use-of-bitcoin-my-bank-working-to-accept-btc/ https://twitter.com/i/status/1408964287918379012 And Paraguay ignoring the suffering of its people, still toeing the line set by the IMF & World Bank... Bitcoin Becoming Legal Tender in Paraguay? ‘Impossible’, Says Congressman https://www.cryptoglobe.com/latest/...der-in-paraguay-not-so-fast-says-congressman/
Stabelcoins are pegged to Fiat currency, because of Bitcoins & Altcoin's volatility most crypto traders, trade backwards and forward between stablecoins and crypto The Fed's Eric Rosengren recently said Tether (the biggest) pose a threat to the Financial system and pointed to the asset distribution https://ambcrypto.com/and-the-reason-we-should-be-a-bit-concerned-about-tether-is/ He is right of course, I believe only a small % is cash, less than 3%, means when you own stablecoins you are exposed to paper which is really what the whole argument of owning Bitcoin is based on....to avoid paper risk. https://cryptonews.com/coins/trueusd/ I'm very interested in the arrival of AgeUSD a decentralised stablecoin that will run on Cardano when smart contracts launch in September. It will be the first algorithmic stablecoin and the first time a stablecoin launches on the top-blockchain network. Cardano Sees First-Ever Stablecoin Launched on Network https://finance.yahoo.com/news/cardano-sees-first-ever-stablecoin-200000851.html
Here's an interesting project ito stable coins, launched on Curve that runs on Ethereum, still in an experimental phase but certainly something I'll be keeping my eye on. Andre Cronje Launches Decentralized Forex on Ethereum Andre Cronje's new project takes a shot at bringing forex into DeFi. https://cryptobriefing.com/andre-cronje-launches-decentralized-forex-on-ethereum/
Politicians protecting bankers, Soros funded Warren bashing crypto - the people's money...let them eat cake After bashing Bitcoin, Sen. Elizabeth Warren calls on the SEC to take a hard look at crypto exchanges https://www.crypto-news-flash.com/a...-sec-to-take-a-hard-look-at-crypto-exchanges/
Update for Cardano's phased Goguen Alonzo integration for hardfork in September...going very well Now onboarding exchanges, loans, oracles and more partners... So professional, refreshing in an industry where the attitude for too long was to throw it at the wall and see what sticks. Amusing the board behind Kevin Hammond....take over the world, I believe he may only be half joking
So many people ask why...why are they doing this, well it's really quite simple. The middle class is very young ito human history...perhaps as young as women's voting rights. Clearly the elites have done a u-turn on their equality project. Where the industrial revolution lifted the middle class we have now reached the end of the road, robotics mean they don't need you anymore. With an overpopulated world filled with consumer waste and well past peak oil therefore unable to generate enough economic activity to pay back debt the world was going to fall into chaos anyway....if they weaken you before the majority wakes up they can keep you where they want you...in your enclave struggling to survive. That btw is the good news the bad news is most people will read this and not believe it btw this is also why I largely support Cardano, specifically designed for African solutions this technology is a bottom up solution...exactly what you need when the world falls into chaos...I would suggest even more so than Bitcoin
Jamie Dimon have always been one of the biggest crypto bashers...they will all cave in to technology, every other industry had to JP Morgan Becomes First Major U.S. Bank to Offer Crypto Trading to Clients https://finance.yahoo.com/news/jp-morgan-becomes-first-major-193000768.html
The left in El Salvador are echoing banker rhetoric against crypto currencies...communists banding together Joshua Jarrett, a crypto investor is suing the IRS for taxing newly created tokens, says it is in direct contradiction with 100 years of US tax law
Your bitcoin 'investment' still making you money? Of course the left in El Salvado don't want anything to do with the wild west's Libertarian ponzi Bitcoin.
