Hello Humble Bitcoiners!

Get ready for your daily dose of Bitcoin signal!
📝 Today's Rundown
  • Becoming Risk-Off: Bitcoin is separating itself from risk assets with increasing HODL behavior and historical patterns suggest a mild down-turn.
  • Own Financial Destiny: A long time ago, in an economic environment far far away the merchant controlled their own financial destiny — so they shall soon again.
  • Not Understands It: Bitcoin is an infinitely complex system that is a zero-to-one invention with little for us to compare it to, so no one can fully understand Bitcoin.

🏖️ BECOMING RISK-OFF

Bloomberg Intelligence Report: Bitcoin Is Becoming A Risk-Off Asset As Inflation Rises
By Shawn Amick

In the latest report of Bloomberg Intelligence, they discuss bitcoin's adoption and the unprecedented advances of monetary technology. It explains how bitcoin is separating itself from standard risk-assets, slowly becoming a risk-off asset.

The report illustrates bitcoin's divergence as a standard risk-asset by comparing it the the Nasdaq 100 Stock Index. Up until now, this year Nasdaq 100 suffered a -20% downturn while markets priced the uncertainty of the Federal Reserve's actions to mitigate inflation, while bitcoin only dipped -15%.

The main takeaways from Bloomberg's analysis are the following:

  • The "HODL behaviour" of investors is rising, while uncertain times suggests a mild down-turn.
  • Bitcoin is well-positioned to overtake a broader market cap against "potentially overextended equity prices."
  • Investors not at least partially-allocating into bitcoin may suffer the most.
Read Full Article
🏦 FINANCIAL DESTINY

Bitcoin Is Venice: The Merchant Strikes Back
By Allen Farrington And Sacha Meyers

This is an article in a series of adapted excerpts from the book “Bitcoin Is Venice” by Allen Farrington and Sacha Meyers. In this chapter, the concepts of work, productivity and management are brought into discussion to demonstrate that since humanity moved off the gold standard and entered a fully fiat monetary system, progress as a society started to stagnate. The motivation to produce and innovate stopped and leadership disappeared completely under the massive wave of inaptitude and opportunism.

For a society to thrive and prosper, the monetary system must be trustworthy, scarce and immutable. Trusting others over capital always ends up being counterproductive and there is no point in relying on a depository institution anymore when Bitcoin’s natural state was precisely designed to fix that.
Read Full Article

📰 THE DAILY BITS
1. Bitcoin adoption around the world is taking shape. Some examples from Bitcoin 2022 offer a window into how Bitcoin is helping people in emerging markets.

2. Bitcoin mining company, Luxor, has launched indices that track hash rate price and cost of ASIC miners in order to analyze the various costs related to mining.

3. LGT Bank now offers select clients direct investments in bitcoin and another cryptocurrency through a partnership with SEBA Bank.

4. Marathon Digital Holdings announced its April 2022 mining production updates noting over 9,000 BTC held in reserves and plans for a total mining fleet of 199,000.

5. Amid the tragedy of Russia’s invasion of Ukraine, Bitcoin acts as a humanitarian lifeline.

6. The governor of California signed an executive order to drive innovation for bitcoin and other cryptocurrency-based businesses with transparent regulation.

7. Does Bitcoin make you a better person? An exploration into personal development through Bitcoin, inspired by Jordan Peterson’s fourth rule.

8. In Bitcoin, it is nearly impossible to find out how much support there is for a proposal without trying it. CTV is a non-invasive change and should be accepted.

9. Humanity must produce an excess amount of energy in order for forward progress — but with increasing demand, how can we achieve this?

☕ NO ONE UNDERSTANDS IT

No One Understands Bitcoin, And That’s Okay
By Mark Maraia

"Nobody understands bitcoin, and that’s okay.” — Jameson Lopp, cypherpunk, software engineer, and one of the earliest Bitcoin developers and advocates.

Even though full understanding is not necessary for something to be mass adopted and socially disruptive (like your computer, smartphone or even electricity), the author of this article tries to explain Bitcoin in an extraordinarily simple way. Maraia talks about bitcoin, the currency and Bitcoin, the network, making a subtle distinction between the both.

He mentions how Bitcoin is the most valuable use of energy for securing an unhackable monetary energy network that the human race has ever witnessed, how every validation of blocks is a massive technological achievement and how nobody understands Bitcoin fully, but that doesn’t mean it won’t change humanity, economics and finance forever. 
Read Full Article

MEME OF THE DAY 
By Temahkwe

Bitcoin is the energy buyer of last resort, and it seems it is not yet widely known. As time goes on, new use cases emerge for bitcoin mining, taking advantage of stranded energy or monetizing new sources of renewable energy, all based merely on bitcoin's beautiful incentives, to search for the cheapest energy the market has to offer.

With love,
Bam

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