?? Weekly Bitcoin TL;DR
US Housing prices are up again, month over month… But these prices are denominated in dollars. And we know that dollars have been diluted by about 39% since Covid. So if the dollar is no longer the most reliable measuring stick for pricing goods (since the goalposts keep moving), then how should one measure purchasing power?
So glad you asked! By dividing not the cost of a home by “dollars”, but instead, by the money supply. Or gold. Or the S&P 500… Or–bravo!--bitcoin.?
If you want your mind blown, for example, go check out PricedInGold.com:
We all know the story of the older fish who runs into two young fish and says “Hey boys, how’s the water this morning?” And the two fishlings stop and look at each other and say: “...What’s water?”
Water’s our dollar. And your home, priced in dollars makes you feel rich. But your home priced in purchasing power is going down the drain. Please don’t shoot the messenger.?
When someone tumbles down the bitcoin–or money, treasury, politics, inflation, food, sick-care (aka healthcare), finance, banking, etc–rabbit hole for years, and is forced to reckon that their entire lives they have been lied to for the explicit purpose of tricking them into participating in an economic system that feeds off of them like a vampire (or conspiracy theorists will say as a Democrat Elite feeds off of children’s adrenochrome or whatever it is), that robs them of their purchasing power and then tries to obfuscate it, one becomes hurt, yes, betrayed, and angry but one also wants to let their peers know what’s happening.
(Up until today, the institutional or ‘polite’ answer to this was calling someone a “Conspiracy theorist”. End of discussion, neat tidy bow… (Post-pandemic, that’s become–proven everyday!--just Normal Theorist.) After the woke-socialist agenda took over sometime around the GFC (great financial crisis), any descent became immediately labelled “racism”, ethno-homo-trans-whatever-phobia,etc. (Let’s not forget that the Nazi stands for National Socialist–and not ‘critical’ or ‘conservative thinker’; therefore the woke who love to call dissenters and critical thinkers “Nazis” are de-facto far closer to that epithet than someone asking questions, who want nothing more than to be told the truth, and mind their business and be productive and be left alone… THE POINT IS:?
Stop using dollars as your denominator.
Your home isn't making you richer, it's just that the dollar(s) are collapsing.
Your dollar-home-price is no more an indicator of wealth than pricing it in dolphins or dinosaurs. At least priced in Steaks (See the BigMac Index) or Gold gives you a more reliable view of whether your home price is keeping up with Purchasing power or whether you are being robbed blind (as you are!) by your politicians and central bankers, and then being told “it’s raining…”.
LAST WEEK IN BITCOIN:
Bitcoin's price has been volatile, fluctuating around $60,000 as concerns grow over the U.S.'s $35 trillion debt. The U.S. dollar has hit its lowest level this year, potentially triggering a Bitcoin price surge. Experts suggest Bitcoin could boom during a period of sustained dollar depreciation.
Investors await signals from the Federal Reserve about potential interest rate cuts, which could further weaken the dollar. Regardless of the 2024 election outcome, continued U.S. spending is expected to increase debt.
Despite recent price dips, institutional investors have been "buying the dip," indicating growing confidence in Bitcoin. The success of spot Bitcoin ETFs on Wall Street is supporting the price.
While Bitcoin and the dollar decline, gold has reached new highs due to global instability concerns. However, investors don't yet turn to Bitcoin during periods of uncertainty. (Forbes. lol)
Bitcoin surged to nearly $64,000 on Friday, driven by two positive catalysts. First, Federal Reserve Chairman Jerome Powell confirmed the start of a monetary easing cycle next month. Second, crypto-friendly independent candidate RFK Jr. suspended his presidential campaign and endorsed Donald Trump, another crypto-supportive candidate.
Bitcoin rose 5.6% in 24 hours. The presidential race remains close, but Kennedy's exit is expected to benefit Trump in battleground states. Both Trump and Kennedy have promised a more crypto-friendly approach than the current administration, with Trump proposing a Bitcoin strategic reserve and pledging to fire SEC chief Gary Gensler. In response, the Harris campaign has indicated support for crypto industry growth… But has done nothing to demonstrate their good faith and has done everything to push the industry offshore for the last 4 years. (Decrypt)
Bitcoin’s reached a milestone: 94% of its total supply cap of 21 million has been mined. Over 19.74 million BTC are now in circulation, leaving only about 1.26 million to be issued.
Bitcoin's supply is controlled through a predictable mining schedule, with block rewards halving every 210,000 blocks (roughly every 4 years). The current block reward is 6.25 BTC, down from the initial 50 BTC.
This controlled issuance ensures a diminishing inflation rate and increasing scarcity. The remaining supply is expected to take over 100 years to fully mint, with 99.9% estimated to be mined by 2140.
Bitcoin's controlled scarcity is a key aspect of its value proposition, making it attractive to investors facing unlimited fiat money printing and currency debasement.
Tick tock, next block. Resources below to learn about the largest and most powerful network in the world.
?? More Notable News Nugs
领英推荐
?? Educational Resources
This new Bitcoin documentary from Swan: “GOD BLESS BITCOIN”. Indeed.?
We’re not in Kansas anymore, friends, this thing is polished.?
Go watch it today. Watch it here:
God Bless Bitcoin by Swan Bitcoin. (Swan and River are my Bitcoin exchanges of choice for American residents.)
For those of you looking to learn more about bitcoin this week:
?? Upcoming Events
Aug 22 - Jackson Hole Fed conference
Aug 30 - CME expiry
?? DCA: How Bitcoiners Buy Bitcoin (Dollar Cost Averaging)?
Dollar-cost averaging allows you to buy smaller amounts of an asset over a long period of time at different prices. As the cost of assets moves in a zigzag manner, investing at regular intervals allows you to buy an asset at an average price versus buying a huge chunk at one price point.
?? Invest consistently
Recurring purchases are an effective solution for traders looking to invest at an average price over a longer timeframe.
?? Forget complex price movements
As more institutional and retail investors enter the crypto markets, prices of cryptocurrencies are gaining stability. However, you may still not want to take any significant risks with your money by trying to time the market.
?? No need for a large sum of money
Investing a considerable amount at once is not possible for everyone. The dollar-cost average approach can be a good choice for investors looking to slowly enter the cryptocurrency market.
THIS WEEKLY UPDATE AND WEBSITE ARE NOT INTENDED TO PROVIDE INVESTMENT, LEGAL, ACCOUNTING, TAX, OR ANY OTHER ADVICE AND SHOULD NOT BE RELIED ON IN THAT OR ANY OTHER REGARD. THE INFORMATION CONTAINED HEREIN IS FOR EDUCATIONAL, INFORMATIONAL AND ENTERTAINMENT PURPOSES ONLY AND IS NOT TO BE CONSTRUED AS AN OFFER OR SOLICITATION FOR THE SALE OR PURCHASE OF BITCOIN OR OTHERWISE.
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For buying bitcoin I don’t recommend using any other exchange in Canada than Bull Bitcoin, Bitcoin Well or Beaver Bitcoin.
It’s impossible for you to get clear or transparent service from a “crypto” broker or centralized trading platform because their entire business model relies on sucking you into their crypto “Altcoin (aka “crypto”) casino”. Bitcoin is not crypto, it is a physical energy-based commodity. It should not be purchased where crypto is sold. Save yourself the agony, friends. Avoid using any non-bitcoin-only exchange, and hold your own keys. (User guides above re: Ben Perrin and Bitcoin Bull.)
Sign up here: Bull Bitcoin
Another guide on holding your own Bitcoin keys, for, regardless of what a “crypto/altcoin casino” centralized exchange or “crypto trading platform” tells you–if you’re not holding your own Bitcoin keys, you’re not a Bitcoin holder, but instead, likely, someone enabling more of the same TradFi/FIAT degeneracy which led us to where we are today (poverty, war, inflation, gaslighting and disinformation):
Sign up for a Bitcoin-only exchange today, hold your keys, hop in, and let’s separate money from State. Bull Bitcoin