Mon Aug 19, 2019 4:50pm ESTComments Off on Macro Guy Groks Bitcoin
Last night I watched a RealVision video about Bitcoin. In a moment I will tell you why this video is important.
RealVision focuses on Macro market views. Despite their slight gold bias most of their content is well supported in terms of data and balanced opinion.
This is the RealVision interview on Bitcoin.
Here is why this is an important video:
This macro gold guy sees Bitcoin at Trillion plus valuations
Calls Bitcoin a “truth security machine”
Recognizes Bitcoin as an invention and a system to benefit mankind, not a silly digital token
Sees the genius of it’s design. The multi disciplinary mastery involved.
Sees the breakthrough of solving Byzantine General’s Problem. Says it’s not properly valued.
While ETH and a few coins are mentioned, the majority of his thesis works only on BSV
People outside Bitcoin are starting to see what’s coming. He’s starting to get it. He further states it’s irresponsible to not have a 1-2% of your portfolio in Bitcoin.
He presents the Macro story of Bitcoin very well and it’s a story that aligns with BSV only. Legal, scalable, professional, honest.
This is the first video I’ve seen from someone outside Crypto who gets the potential and can talk about it in intelligent terms. Draper, Novogratz etc don’t lay out the details as well. I don’t think they get it to be honest. This guy is different. He hints at the particulars. He’s in the process of groking Bitcoin.
For me, this confirms that guys at this level are prepping for what they see as Macro changes. They are going to be increasing their positions as it becomes clearer to them Bitcoin is here to stay. To be clear, this is not me saying “the institutions are coming”. That’s a meme propagated by fools. An ETF is not going to save Bitcoin. What I’m saying is smart macro guys are seeing that Bitcoin has survived it’s blow off top. It’s not going to die. There is a whole world being built on Bitcoin and it’s dumb to ignore it. Now is the time to be serious about this breakthrough. Now the real adoption begins.
The market cycle is at play. This is where Macro guys live. They look for this type of play. This chart is their bread and butter and RealVision is posting videos saying the time is now.
Further, while he didn’t mention BSV specifically, if he’s doing this level of homework and ignoring the drama he’ll naturally discover why BSV is Bitcoin.
?????? – no kidding. I can’t name one. BTC’s only use case is speculation as far as I can tell.
70:1 ratio. I see a grand opportunity here for BSV. Remember, I said buy BSV at $130 and below in Buy The Blood.
And then we have the topic that has distracted the market for years. Who is Satoshi Nakamoto? The truth is coming out. Bitcoin was not designed for dark markets or money laundering. Bitcoin is designed to be legal and poised to be THE world currency.
Cost of living in California is spiraling upwards at a dizzying pace. I left in November of 2018 because even though I make Bitcoin sized returns California still seems insanely unaffordable. Sure, San Diego has perfect weather but housing and rents have doubled within a few years. This is not sustainable. I see a huge correction coming to “America’s Finest City”.
For rentals, how about $3,075/month for less than 600SF sound? Sounds ridiculous to me. This is near the median for 1 bedrooms in the Little Italy neighborhood. Don’t worry, if you have your heart set on paying $8,000 for a 1 bedroom Little Italy has you covered.
This neighborhood is mostly young professionals. “Excuse me sir, but what are you doing at 28 to afford a $5,000 apartment?” Sure, many people make lots of money but is everyone making the required $200k plus to be rolling in a neighborhood with those rents paying $14 for avocado toast snacks and $12 cocktails on the daily? I doubt it. I smell daddy’s money or insane credit card debt.
The only way the math works out is that everyone is going broke, fast. But their Instagram is lit AF.
To be clear, I *could* afford to live in California but at $3k for <600SF why would I? Add in that a burger, beer and fries is over $20 and it was time to move. I was eating my retirement one $20 burger at at time. Maybe it’s because I still have my midwestern roots and no matter how much I make I refuse to blow obscene amounts of money on a studio with a peak ocean view. Or, maybe I can just do basic math.
But wait, there’s more. As a trader, California is creeping up on the Fed for their share of your tax dollars. You think short term capital gains from the Fed are bad? Wait till you have a great year and with Fed and CA capital gains you are paying over 50% of profit in taxes. That’s right, you keep less than 50% of your profit. But hey, you get to take 100% of the risk so it evens out? That’s an example of the new California math.
I realize NY or SF may have more ridiculous rents. Great, if you live there I’m surprised you are smart enough to read.
I sold my home shortly after the last bubble. I may be a buyer during the next crash. It’s going to be a doozy.
“The world that Satoshi Nakamoto, author of the bitcoin white paper, envisioned is an unstoppable force. We should not attempt to deter this innovation … those who have tried have already failed.”
BSV is the only coin that follows the Whitepaper. BSV is “set in stone” and obeys current laws. BSV is honest money. BSV is the unstoppable force McHenry references above. The rest of Crypto will go to zero.
The virus is spreading. The Road to Winship begins in earnest now.
BSV is trading at ~$130. This looks like strong support on charts. BSV has fallen 50% from recent highs while BTC has fallen 25%.
I have been pounding out blogs talking about the fundamentals of BSV. Fundamentals is about what to buy. BSV is the only crypto anyone should buy because Crypto is a Ponzi.
Technical analysis is about when to buy.
At $130 BSV is a buy.
I expect $130 to offer price support. If 130 breaks we’ll have psychological support at $100 and, worst case IMHO, $50. BSV could fall another 50% or more. Long term, this doesn’t matter. BTFD now and continue all the way down. If you can’t stomach that don’t do it. Wait till trend reverses and follow the herd. As a confirmed crypto degenerate I am only telling you what I’m doing.
BTC is trading 70:1 to BSV. If you own BTC and are not hedging your holding at this ratio there’s no reason for you read my posts. You have made your decisions. You’re no longer processing information. You’re a HODLer. I have no time for that.
This is my call: BSV is a 10x from here within 12 months.
Sat Jul 13, 2019 10:02am ESTComments Off on Crypto is a Ponzi
Simply put, time is limited for Crypto. I expect another bear swoon maybe as soon as this Summer. The counter to this is Bitfinex and Tether will pump BTC in one last glorious exit pump, dumping at a peak on retail noobs conditioned to HODL. This will be the last hurrah.
So how does this end? All the shitcoins, including BTC, with their broken economic models, experimental blockchains and “second layer” solutions will fail. This may take a year or more but it will happen.
Technology has transformed the human experience over the past 150 years. Medicine can now prevent and treat many previously incurable diseases. We can traverse the planet in hours instead of years. One farmer can feed a small town. Cars did not exist when my Great Grandmother was born.
Technology moves fast.
One area that we have not transformed is breaking our reliance on centrally managed fiat currencies. Our boom bust cycle that has existed since money was invented continues to this day. Every fiat currency in history has failed.
As the saying goes, “On a long enough timeline….”
We are now entering a new phase. Similar to how advances in medicine, transportation and technology altered our day to day life we are about to see a shift in how we value information and exchange goods.
Information is the new money.
Money has these characteristics:
The characteristics of money are durability, portability, divisibility, uniformity, limited supply, and acceptability.
When comparing the USD (the world’s reserve currency) to Bitcoin the USD is inferior in all areas except for acceptability (at this time). The world just hasn’t caught on yet. When it does, Bitcoin will beat the USD there too.
We are on the verge of a new era, distinct from every currency of the past.
No currency in history has been backed by Proof of Work. This makes Bitcoin the most reliable, resilient and fair money mankind has produced.
Very simply, Proof of Work creates honest money. We know for the next 100+ years how Bitcoin, via POW, will be issued and secured. This process is set in stone.
Proof of Work is fundamentally different than Fiat. Proof of Work is competitive. Miners are rewarded for securing the Bitcoin network. No work, no reward. Every Bitcoin is a product of Proof of Work providing cryptographic proof of it’s validity.
Fiat money is a currency without intrinsic value that has been established as money, often by government regulation. Fiat money does not have use value, and has value only because a government maintains its value, or because parties engaging in exchange agree on its value. – Wikipedia
Stablecoins, eg Libra, are pegged to fiat. Fiat is a promise. Therefore, Libra is a promise about a promise! The world has been built on promises created by governments proclaiming their currency as means of exchange. Throughout history governments have broken their promises around Fiat. Fiat can be manipulated. It is subject to the presiding government’s challenges. Never in history has fiat survived the waxing and waning of the politicians. Example: as of the 70’s the US dollar is not backed by gold. Only more promises. Fiat is inferior to POW. Fiat, as a promise and as history has shown, is eventually broken.
POW is a fair playing field. No politician can manipulate Bitcoin. Money has always been power. In Bitcoin, information is power. This enables competition without boundaries. Even with unreliable internet anyone can compete in the Bitcoin Economy. I can sell my goods online for pennies from anywhere in a Bitcoin Economy.
The Bitcoin Economy will revolutionize information sharing and exchange of value.
Proof of Work is a breakthrough in how money is created. There is no promise, no peg to break in PoW. There is no dilution via centralized policy. Proof of Work replaces fiat with honest money. POW does not care about politics. POW is truth.
Bitcoin enables commerce at a microtransaction level. The Long Tail theory shows that microtransactions can generate a larger impact on the world economy than the Internet. Microtransactions in volume will dwarf current economic numbers.
Fiat currencies ultimately settle in USD, the king of Fiat, as USD is the world’s reserve currency. The problem is the USD is not honest money. There’s no peg to anything, only an empty promise. Bankers print with the Fed’s approval. Pegging the world’s currencies to the US Dollar is tying your lifeboat to the Titanic.
The world’s economies are living on borrowed time.
Stablecoins are lipstick on a pig (USD).We must dig deep. We can do better. This is a critical turning point for the world economy.
Bitcoin is truth.
Bitcoin is honest money. Every satoshi is always accounted for at all times. When Bitcoin is the standard slush funds, mismanagement and crony capitalism will die.
Stablecoins perpetuate a fiat system built on a promise. Bitcoin is a NOT a promise. Stablecoins are the gateway to a new century of serfdom.
The Bitcoin Whitepaper is a masterpiece. Maybe the greatest human achievement in the past 100 years.You don’t mess with a masterpiece. If that sounds like hyperbole you haven’t seen what Bitcon enables yet.
The Bitcoin Economy exposes corruption, lies and crime. Anyone who champions against Bitcoin has a stake in hiding something. To be clear, Bitcoin does not care what you do, but if you do something illegal Bitcoin is not your friend.
We are in the very earliest stages of Bitcoin. 10 years is nothing. It’s important to begin researching Bitcoin now. I’ve been at this for years and I have startling revelations almost daily.