Colorado governor wants state to accept Bitcoin for tax payments
Brokerage giant Fidelity suggests "winner take all scenario" for Bitcoin
Arizona Senator Wendy Rogers proposes bill to exempt bitcoin from property taxes
Meta joins COPA's board
Thailand removes plans to tax Bitcoin and crypto transactions
Bitcoin’s 50% correction is nothing new. - Morgan Stanley
10,000 BTC of stolen funds from the 2016 Bitfinex hack were transferred
Nowadays Bitcoin transactions are cheap as chips
MicroStrategy has purchased an additional 660 bitcoins
Bitcoin is now officially legal in India!
There are now 30PH of miners on solo.ckpool.org
Drew Brees to Get Paid in Bitcoin via NYDIG’s BTC Savings Plan
El Salvador to deploy 1,500 more bitcoin ATMs
Another solo miner got 6.25 Bitcoin reward
Botswana lawmakers agree to regulate trading of Bitcoin and crypto
Canadian Bitcoin spot ETF is at ATH again
Bitcoin Address Re-use Statistics are better
Kraken launches proof of reserves tool
US Bitcoin Tax plans: Anything over $200 would be taxed
Russian Chamber of Commerce urges government to recognize bitcoin mining as business
A new 440 TH/s miner emerged and already pre-sold 60,000 of it (UPDATED!)
Riot voluntarily began to reduce power to their Bitcoin miners
Nasdaq listed company Mawson to build a new 100MW bitcoin mining facility in Pennsylvania
Craft Superfood Chain Everbowl™ Announces Moving to the Bitcoin Standard
U.S. Senator Ted Cruz bought up to $50,000 worth of bitcoin
Ecuador plans to regulate Bitcoin and crypto this year.
El Salvador is launching a FREE Bitcoin Education Center
Global micropayments integrated into livestreams by Strike
Belarus to allow investment funds to buy Bitcoin
Colorado governor wants state to accept Bitcoin for tax payments That’s it. After many states, the Colorado governor wants to join the Bitcoin World too. Like a sports group with merch, what is easier for a state to gather some Bitcoin than paying tax with it?
Brokerage giant Fidelity suggests "winner take all scenario" for Bitcoin
Fidelity (an 11.1T USD value company) explained in the most profound way how unnecessary the shitcoins are: ”Any subsequent monetary good would be reinventing the wheel". And yes, Bitcoin can do anything your fancy shitcoin can do, just not on Layer 1, but on 2nd, 3rd. Think about TCP/IP (if you don’t know what it is Google it). TCP/IP protocol was invented 50 years ago at the beginning of the internet and everything else like HTTP (Layer2) was built on it. Or we can say PayPal (Layer3). Bitcoin on-chain is TCP/IP, the Layer 1, so if you want any kind of service just build on it! BTW Fidelity said they started mining and buying Bitcoin in 2014. Maybe they know what they are saying…
Arizona Senator Wendy Rogers proposes bill to exempt bitcoin from property
taxes
There are still good people like Senator Wendy Rogers who don’t want to tax the early adopters from her state, but to help them with exempting Bitcoin from property taxes. That’s what a real patriot does!
Meta joins COPA's board
If you don’t know what COPA is, don’t worry, here is their definition: “The Cryptocurrency Open Patent Alliance (COPA) is a non-profit community of like-minded people and companies formed to encourage the adoption and advancement of cryptocurrency technologies and to remove patents as a barrier to growth and innovation.”
COPA is like Avengers (Marvel). They fight against the FIAT system in the name of Bitcoin and other shitcoins. But unlike most shitcoins, Bitcoin can’t defend itself against tyrannical rules and attacks because there isn’t a CEO or a bunch of company members (lawyers) behind it. That’s why an alliance like COPA is essential. Hope Meta (formerly Facebook) is not a trojan horse and it will help Bitcoin in good faith!
Thailand removes plans to tax Bitcoin and crypto transactions
This was fast. Few days earlier they wanted to tax it with 15%, but because Thai authorities received pushback from traders in one of south-east Asia’s biggest markets for digital currencies, they changed their mind. Sooner or later We will be more, so more and more news like this will come. First ban it, then tax it, then freedom!
Bitcoin’s 50% correction is nothing new. - Morgan Stanley
Look how Morgan Stanley became a Bitcoin friendly company. I still remember when at the end of December 2017 one of the analysts of Morgan Stanley said this:”the real price of bitcoin might be $0.” Four years later you can see they don’t even care about a 50% drop in Bitcoin price. That’s why you need to educate yourself and not talk shit first. Because the internet never forgets.
10,000 BTC of stolen funds from the 2016 Bitfinex hack were transferred
“According to Whale Alert, 10,000 BTC (383,540,711 USD) of stolen funds from the 2016 Bitfinex hack were transferred to an unknown wallet. On August 3, 2016, the Bitfinex exchange announced that it had been hacked and 119,756 BTC were stolen.” by Wu Blockchain Hopefully these hackers are not so dumb, if they waited for so long and that they have a good plan how to wash clean these coins before they use it. On the other end I need to mention that never ever store your coins on an Exchange! If they get hacked your coins are lost! Not your keys, not your coins!
Nowadays Bitcoin transactions are cheap as chips
“Over the last two weeks the Bitcoin Network has settled $495.4 billion of value for $5.8 million of fees. $85,141 of value transferred and settled for every $1 in fees on average, a 0.00117% cost.” by Dylan LeClair
MicroStrategy has purchased an additional 660 bitcoins
“MicroStrategy has purchased an additional 660 bitcoins for ~$25.0 million in cash at an average price of ~$37,865 per bitcoin. As of 1/31/22 we hodl ~125,051 bitcoins acquired for ~$3.78 billion at an average price of ~$30,200 per bitcoin.” by Michael Saylor
MicroStrategy generated $90m in cash flow this year, and will also be used to pay the debt service. It executed its most recent purchase using free cash flow, rather than issuing debt or equity. It also wants to borrow against that 110,000 bitcoin and reinvest that in more bitcoin.
Bitcoin is now officially legal in India!
They legalized Bitcoin, but they are robbing their citizens with a 30% capital gains tax which is steep, but that will incentivize long-term hodling and usage as collateral. Of course they start their own digital rupee shitcoin in the fiscal year starting April too. Hopefully soon Bitcoin will wipe these CBDC’s before they will be a weapon of tyranny.
There are now 30PH of miners on solo.ckpool.org
Since last week's news, where I wrote too about the hopefully rise of Bitcoin solo miners, the trend is unstoppable! There are approximately 600 more solo miners. Just to have some perspectives, the 30PH (petahash) = 30,000TH (terrahash) = ca. 2200 S9 miners. These solo miners are purely lottery miners, but they are helping the decentralization of the network. Thanks guys and Good Luck!
Drew Brees to Get Paid in Bitcoin via NYDIG’s BTC Savings Plan
Retired NFL quarterback-turned-entrepreneur Drew Brees has elected to take part of his salary in Bitcoin through NYDIG’s new Bitcoin Savings Plan. Great to see that NYDIG’s new BTC Savings Plan is attracting more and more sports people. I already wrote in my last newsletter that after the end of their active career, they need to have a Plan B. This Savings Plan is great for that! “For a long time, Bitcoin was pretty intimidating for me. The more I have immersed myself in the understanding of money, long-term value, and the history of finance, the importance of bitcoin became apparent,” Brees stated.
El Salvador to deploy 1,500 more bitcoin ATMs
A small country like El Salvador is deploying additional 1,500 bitcoin ATMs. That's a huge number because there were already 200+ Bitcoin ATMs and in the World there are only around 34,000. Which means only in El Salvador will be 5% of the World Bitcoin ATMs. Think about it. The Country is only 21,000 square Km, the Earth has 63,824,447 square Km of habitable land. El Salvador's habitable land is only Earth’s 0.03%. That’s how you should compare 5% of the World Bitcoin ATMs will be only on 0.03% of Earth’s habitable land! This is true Bitcoin MAXIMALISM!
Another solo miner got 6.25 Bitcoin reward
This is getting boring (not). The 4th solo miner resolved a block and got a 6.25 Bitcoin reward. The funny thing is that he or she needed only 13TH to win the prize. It’s probably he mined it with one S9 miner. He earned more than $230,000 with just around 800 USD investment. That’s a good bargain!
P.s. Underground information says the block was mined within 24 hours from the first start of the miner. Crazy lucky guy!
Botswana lawmakers agree to regulate trading of Bitcoin and crypto
As we see the US and EU CPI numbers I don’t think that more and more countries opening to Bitcoin is coincidental. I think they will go in a similar way like India with taxing Bitcoin, but they won’t be so steep with 30% because they can’t afford it. They are a small country, so they need to gather Bitcoin as fast as they can. Time will tell how they will tax it.
Canadian Bitcoin spot ETF is at ATH again
On February 1st someone bought heavily and the ETF gained more than 1000 BTC in one day. On the next day the inflow of FIAT money didn’t stop and with another 745 BTC added, it reached a new ATH with over 31,000 Bitcoin. The following graph shows the best what whales and institutions are doing:
Bitcoin Address Re-use Statistics are better
“... Address re-use is generally considered as a bad privacy practice and unfortunately it remains at an elevated level. Currently around 50% of transaction outputs are sent to previously used addresses. Although the situation has improved somewhat since 2013, when the 75% level was breached. In our report we break down address re-use, analysing how much of the re-use has occurred within the same transaction. Our analysis has identified that in the last few months, over 80% of all Bitcoin spend didn’t really move at all and was sent back to the address it came from. This metric has grown continuously since around 2016.” by Bitmex
US Bitcoin Tax plans: Anything over $200 would be taxed
The Virtual Currency Tax Fairness Act introduced to US Congress would exempt personal bitcoin transactions from capital gains tax if the gains are less than $200. What is this $200 limit? Maybe in a 3rd world country it would mean a lot, but in the US it is just a joke.
Kraken launches proof of reserves tool
Kraken launches a proof of reserves tool so clients can verify the balances they hold are backed by real assets. Based on my knowledge Kraken is the first legacy cryptocurrency trading platform who made this step. But don’t get fooled, what today is there tomorrow might not. There is a not small percentage chance that you could get burned by hosting your funds at centralized exchanges, banks etc. Remember: Not your keys, not your coins!
Russian Chamber of Commerce urges government to recognize bitcoin mining as business
Last week we saw a major opinion change in Russia regarding Bitcoin. Not just with the RFM’ “regulating” idea, but with what Putin said that Russia has ”some advantages” in Bitcoin mining. The next step was logical, to make Bitcoin mining a legal business in Russia. I think they are preparing for a PlanB if the US will sanction Russia or it is just a major bluff. Anyway all this news is good for Bitcoin will see how it will evolve.
A new 440 TH/s miner emerged and already pre-sold 60,000 of it. (UPDATED!)
The NuMiner came out of nowhere and announced a 440 TH/s miner with an efficiency of 20.2 J/TH. These specs would make it an industry-leading ASIC. It’s 3 times better than the recently announced Antminer S19XP and 4 times better than S19J Pro, so you should take all this information with a grain of salt. If this is true, it will be a huge step up, like in the good old days with the Antminer S7 to S9. In pre-sale they already got a buyer Sphere 3D who purchased 60,000 NM440 units which will be equal to 26.4 exahash of Bitcoin mining capacity. If a company can order so many units, I can’t even imagine Russia as a country how many miners will acquire. Because it will, everyone knows this.
(UPDATE: There is a quite big possibility it’s just a scam because if you search in Google on the “CS-1 system” you will find the identical machine with different colors:)
Riot voluntarily began to reduce power to their Bitcoin miners
Have you ever heard that the ESG friendly companies like Apple, Google or Facebook ever reduced their power usage to protect their state citizens? Nope? Riot the Bitcoin mining company voluntarily began to reduce their power usage as the winter storm in Texas worsened. They cut their energy usage by roughly 98%. If you think there is not too much to talk about, then think again. They are using 91 MW (!) of energy. Of course they are reselling this capacity back to the grid, but those “unmined” coins would worth way more in the future. Anyway, this is a really generous step and don’t forget what I wrote in my last newsletter in connection with Russian mining. Bitcoin mining should be used to balance the energy grid usage. Because in this situation you can free up energy capacity. You can’t do this with renewables!
Nasdaq listed company Mawson to build a new 100MW bitcoin mining facility in Pennsylvania
“...Mawson currently operates its flagship facility in Washington County, Georgia, and a co-location facility with Compute North LLC in Kearney, Neb., and recently signed a new 100MW Bitcoin mining facility in Midland, Penn. Mawson also has its first facility operational in Australia – a 20MW bitcoin mining facility in Byron Bay, powered by 100% renewable biomass energy.
Adding to its mining fleet, Mawson recently purchased 4,000 of the latest generation ASIC Bitcoin miners — including 2,000 MicroBT M30S and 2,000 Canaan Avalon A1166/1246, this is on top of over 17,000 ASIC Bitcoin miners purchased in Q3 of 2021, taking Mawson’s fleet to over 40,000 Bitcoin miners globally.” by USAToday
They are clever because with this 100% renewable story they are ESG friendly (shit), so funding is not a problem (nowadays money just flows into ESG friendly (shit) companies) and I suppose through their partners a lot of governmental subsidy is flown in too. I think either way these mining facilities are good for the Bitcoin network because with this the enviroment nazis can’t do anything against Bitcoin usage.
Craft Superfood Chain Everbowl™ Announces Moving to the Bitcoin Standard
Jeff Fenster the CEO of Everbowl chain announced to move the entire company on Bitcoin Standard which means they are converting their FIAT income onto Bitcoin. He is afraid of the upcoming inflationary period, so his move is completely rational. Think about it. If you were in his shoes, how would you protect your company against inflation? Would you buy Gold? In the past one year, it’s not moving anywhere against USD, but you could still believe in it. Would you buy stocks? Are you risking your company income on some other company decision? Are you buying Bonds? It depends on which country bonds you are talking about, but it could even produce negative yields. In today’s financial world it’s completely rational to switch on a Bitcoin Standard and if he starts buying in a dip, he can make a huge profit from it..
U.S. Senator Ted Cruz bought up to $50,000 worth of bitcoin
During the recent dip in the Bitcoin price, on January 25th U.S. Senator Ted Cruz bought $50,000 worth of Bitcoin. A disclosure dated February 4 shows Cruz made the bitcoin purchase valued between $15,001 and $50,000 price range. On that day the price was around $37,000 so he is already in profit. Hopefully when you read this newsletter it’s still true!
Ecuador plans to regulate Bitcoin and crypto this year
This week Botswana already, now Ecuador wants to regulate Bitcoin. It’s interesting how small countries are opening to Bitcoin one after another. I think they face a major inflation problem. Either because of their own currency (like Botswana) or indirectly because of the FED decisions (like Ecuador). Botswana Pula in the last 10 years lost 50% it’s value against the USD, which means that even with the ever growing USD inflation, the Botswana Pula is having big problems. The interesting part is Ecuador where the official currency is the USD. Maybe they just think to ride the wave of what El Salvador made and they are planning to make Bitcoin a legal tender? Either way I think at least they will tax it or to boost their economy they will make it a legal tender and/or at least tax free.
El Salvador is launching a FREE Bitcoin Education Center
El Salvador is showing us the light in this inflation darkness caused by central banks. Not only are they the first who made Bitcoin a legal tender, but they are drawing us the future steps too. Bitcoin is worthless without education. People need to know what it is, what they are holding to be able to value it. With the help of the Paxful partnership, they are launching a free Bitcoin Education Center to promote Bitcoin adoption. I think soon of us all want to live in a country like El Salvador. Hopefully others will follow.
Global micropayments integrated into livestreams by Strike
“Another awesome app built on the Strike API. Global micropayments integrated into livestreams. Now anyone in the world can pay any amount to a streamer, received instantly, with no fees, into their Strike account. Only possible with the world’s best monetary network: Bitcoin” by Jack Mallers
Jack Mallers the CEO of Strike just announced another great service for onboarding many more users into the Bitcoin World. With this new Strike API with very little knowledge any streamer can get hard money into their own wallet instantly through the help of the Lightning Network. If you want to read the details, just read his Twitter thread.
Belarus to allow investment funds to buy Bitcoin
It makes perfectly sense that what Russia does Belarus is doing too. Belarus decided to take a step further to allow investment funds to buy Bitcoin. The Belarus’ Ministry of Finance said that despite it having the necessary regulatory framework for collective investments, not a single fund has registered so far. One of the major reasons behind this reluctance could be that these funds aren’t allowed to invest in crypto assets. This will hopefully change now. BTW note that despite this crypto-friendly stand, the use of digital assets in Belarus has been prohibited. However, residents are allowed to trade digital assets.
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Global Economic News
TL;DR
S&P 500 maybe at a turning point?
El Salvador Nov. Economic activity rises 4.23% Y/Y
Goldman Slashes 2022 GDP Forecast Again
The US debt has officially crossed over $30 trillion
Austria’s economy contracted 2.2% in Q4
The Eurozone recorded a stronger-than-expected January inflation
The US total debt to GDP is at 400%
PayPal stock is in free fall, dropping over 25%.
The combined mkt cap of FANGMAN drops <$10tn
Amazon after 4 years raises Prime prices, but it shouldn’t.
Turkey's inflation hits nearly 50%
The Government's Kill Switch For Your Car
Inflation without velocity by Garic Moran
Record Number Of Robots Joined American Workforce
S&P 500 maybe at a turning point? “To put things into perspective: S&P 500 has seen a reset in valuations. P/E ratio has come back from 27 to 20. Earnings estimates may not be moving up any longer, but there’s no need to cut them either, @knowledge_vital's Crisafulli writes.” by Holger Zschaepitz
El Salvador Nov. Economic activity rises 4.23% Y/Y El Salvador WORKS! Not like other countries who make some GDP pump only because they printed huge amounts of money. El Salvador can’t do it because it does not have a printing press. His legal tenders are USD and Bitcoin. USD is printed by the US FED and Bitcoin is “unprintable”, only mined by strict rules. We can’t say that this performance was gained only because of Bitcoin legal tender in the country, but I’m sure it helped a lot. As the inflation in the FIAT World is only at the beginning stage, so is the prosperity in El Salvador!
Goldman Slashes 2022 GDP Forecast Again “...expect even more aggressive cuts to GDP growth in coming quarters - from both Goldman and its peers - even as inflation continues to rise, cementing a painful period of non-transitory stagflation for the US as the mid-term elections approach."
“And since the US economy will not find some deus ex engine for faster growth, the Fed is facing two stark choices as Morgan Stanley explained yesterday: a recession or years of very high inflation.” by Zerohedge
The US debt has officially crossed over $30 trillion
I think you are not surprised. Not only the US, but any other FIAT countries' debt is a pile of shit which is only getting bigger and bigger. You don’t even need to focus on the number, just think of it like a “vector” (by Michael Saylor). It makes your life way easier. BTW this is not even the actual real number, just check last week's newsletter embedded Youtube video about Inflation. If you are shocked, time to learn about Bitcoin and the Austrian economy.
Austria’s economy contracted 2.2% in Q4
Austria where the economy contracted 2.2% in Q4, most since the onset of pandemic as lockdown to curb infections hurt restaurants, hotels & other services. But in the long term, Austria is an outperformer & has outpaced not only Germany but also the Eurozone in terms of growth.
The Eurozone recorded a stronger-than-expected January inflation
“... Eurozone recorded a stronger-than-expected January inflation print ahead of Thursday's ECB meeting. CPI accelerated to 5.1% vs 4.4% expected. This report should give fodder to the hawks on the Governing Council, JPM says.” by Holger Zschaepitz
The US total debt to GDP is at 400%
The US total debt to GDP is at 400% and with historical negative real yields. The financial market is completely split and I don’t think that they can hold for long these low FED funds rates. If you think inflation is already high, watch what will happen in the following months! It’s never too late to educate yourself about how to protect your family wealth.
PayPal stock is in free fall, dropping over 25%.
As EBAY is ditching PayPal for their own payment solution the PayPal stock begins to fall. Maybe it’s just a big sell off due to the overpump caused by the Pandemic, but maybe the same is happening like with Blockbuster and the rise of streaming services. With Bitcoin and Lightning Network in the future you don't need PayPal. Just a matter of time and it will be obsolete.
The combined mkt cap of FANGMAN drops <$10tn
“Combined mkt cap of FANGMAN drops <$10tn as just a $2bn miss at Facebook wiped out a stock market value at Facebook of $200bn.”by Holger Zschaepitz
Amazon after 4 years raises Prime prices, but it shouldn’t.
The Internet giant Amazon said it will increase the price of a Prime membership in the US. Monthly fee going from $12.99 to $14.99, annual membership from $119 to $139. First time Amazon has raised the price of Prime since 2018. Don’t get fooled because if you average the 2 and 20 USD raise for a 4 year period, it’s not too much. But we live in a technological deflation era, which means that as the technology behind the products or services are more efficient, these prices should be lower and lower, but the inflation is so steep that not even these prices can fall. Just check the attached picture below:
Turkey's inflation hits nearly 50%
As we all know two weeks earlier Erdogan met with Nayib Bukele the President of El Salvador. At that time Erdogan already knew these numbers, so I think they must be talking about Bitcoin too. The annual inflation rate in Turkey has surged to a 20-year high of 48.7%, soon the country will be in Hyperinflation if this trend continues. If Erdogan wants to leave anything behind as his legacy then he needs to move his country to Bitcoin.
The Government's Kill Switch For Your Car
Yes, you read it right. In the US $1 trillion (!) infrastructure bill, you can read the following: “It’s pretty clear that the goals of this section of the law are to reduce drunk driving fatalities and crashes via still-undetermined technological tools that somehow are able to “passively monitor the performance of a driver of a motor vehicle to accurately identify whether that driver may be impaired,” and/or “passively and accurately detect whether the blood alcohol concentration of a driver of a motor vehicle is equal to or greater than the blood alcohol concentration described in section 163(a) of title 23, United States Code,” and if either or both of these conditions are proven to be positive — if the car thinks you’re drunk, then it may “prevent or limit motor vehicle operation.” by Zerohedge
What do you think about it? How easy would it be to stop the Canadian truckers with just a command through the air? Or any Teslas which are always connected? Soon all the vehicles will receive the commands/updates wirelessly. Interesting years will come in the fight against tyranny. More details in the Zerohedge article.
Inflation without velocity I found Garic Moran (Moran-Tice Cap Mgmt - RIA - Precious Metals Equities Specialists) tweets in which he explains nowadays why he thinks that in the US could be inflation without velocity: “Today every major commodity is in a shortage & prices are soaring
Let me give you an example: A Tesla shareholder or Bitcoin owner sells their assets & buys a home in Dallas; did velocity rise? No. Did prices rise? yes. The FED supporting financial assets outside of the banking system creates inflation without creating velocity: capiche? Tesla or Bitcoin not included in M2, & not in banking system. Are they money? Yes. If you can sell them and purchase something with them, it is some form of money. The banking system is no longer relevant as long as FED supports financial assets at all costs, this is now money:
As long as FED supports financial assets at ridiculous valuations to GDP inflation is headed higher, regardless of velocity of money: capiche?” by Garic Moran
Record Number Of Robots Joined American Workforce
Under the Pandemia, silently the governments around the globe printed shitloads of money to steal their citizens' wealth. Besides that they locked for “just two weeks” everyone else into their homes. To be able to buy some food they gave some very small portion of the printed money, just to kill the hunger and to teach them that they can sit at home and they don’t need to work for their paychecks. After the end of the lockdown, they don’t even search for a job. But silently in the background for some of them their jobs just disappeared with the ever growing automatization. Based on the Zerohedge article, companies across North America laid out more than $2 billion for almost 40K robots in 2021. "With human labor, what they produce depends on if they’re hungry or are they tired or have they had their coffee," said Brian Tu, chief revenue officer for DCL Logistics in Fremont, California. One robot can make many humans work because they can do it faster without any error and 24/7. We can play with multiplying this 40K number, but the result won’t make us happy. The next step will be total human control by trapping the home sitting masses into the Metaverse and with this no more differential thinking, no more riots, just pure Orwell 1984. If you don’t want this, just go and educate yourself and don’t trust anyone's “truth”, find yours!
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These are just speculations, no investment advice!
“Comparing bitcoin price history to 4 years prior” by ChartsBTC
“Bitcoin RSI=53
Will RSI drop below 50 (indicating downward momentum and start of a bear market), or will RSI stay above 50 and rise again, because at the peak in 2021 RSI did barely go above 90 as well (no high peak = no extreme low).” by PlanB
“Bitcoin has bounced HARD off these levels every single time. I am BULLISH!” by Bitcoin Archive
“bitcoin Jan 2022 close $38,491
62% below S2F target and outside 1sd band” by PlanB
“Maybe we just need a little more time. Bitcoin 8,6% of time above 20k since inception.” by Root
“Keeping it simple. Nothing to get overly excited about until BTC starts closing above 40k-41k. Confluence with 3-month diagonal resistance as well. “ by Will Clemente
“Bitcoin Liveliness is a macro metric which tracks coin dormancy vs coin-day destruction.
The current market is seeing a preference for HODLing, rather than spending. This leads to a downtrend in liveliness, typically seen within the context of bear market accumulation phases.” by Glassnode
“Bitcoin halving index” by ChartsBTC
“Talking about scarcity, Illiquid supply is growing near twice as fast as new supply. This is why we made the 69k ATH in bear market conditions. Coming up: the '24 Halving matched with an ever growing HODL army! I think no one is ready for what's to come.” by Root
“When in doubt, zoom out and witness the massive bull flag.” by grublés
“The Bitcoin Super Cycle dynamic. We repeated the whole pattern of last halving in only the first half of this halving.” by Root
“Pretty straightforward price action-wise for BTC. Bidding green box(es); would like to see a higher low set for continuation. Flip the 40-41k area as support and can start eyeing 47K which is PoB in confluence with yearly open and STH realized price. Final major area is 58k.” by Will Clemente
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Bitcoin Shorts
Funny Bitcoin short stories
“There are more than 50 million millionaires in the world. Imagine when each one of them decides they should own at least ONE #Bitcoin But there will ever be only 21 million #Bitcoin No enough for even half of them. A gigantic price increase is just a matter of time.” by Nayib Bukele (President of El Salvador)
“You are still early in Bitcoin - Stack accordingly.” by 21bitcoin.app
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There are now 30PH of miners on solo.ckpool.org thanks to attracting approximately 600 more users since the recent block finds. That equates to a solo miner solving a block on average every one and a half months. Good luck!
