Hello Humble Bitcoiners!
The week continues with strong signal regardless of the price. We know that whether price goes up or down, we are all here for the long term. |
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| 📝 Today's Rundown 👻 The CBDC Fantasy: Implementing a CBDC would not only negatively impact the U.S. economy, but is literally beyond the capability of the government. ☕ Fiat Is Crumbling: As fiat currencies crash against the USD, it makes sense to start using bitcoin denominations, even for day-to-day expenses. 📉 The Bottom: Bitcoin miners are supposed to be the bulls of last resort, but how are their financials faring in this bitcoin price tumble? |
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HODLween is a Bitcoin only celebration on October 21 and 22 designed to unite us around the idea of self sovereignty through education, play and community. If you hold bitcoin, are curious about bitcoin, or just want to have some fun — HODLween is for you! HODLween features three main events — The Cattlemen's Feast in collaboration with the Beef Initiative, Speakers and Bitcoin Workshops, and an epic HODLween Costume Party!
You don't need permission to be your own bank and you don't need permission to have fun! |
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The U.S. Central Bank Digital Currency Narrative Is A Fantasy
By Shinobi The discussion around Central Bank Digital Currencies (CBDCs) is resurging and gaining popularity once again now that the White House published their latest report on Bitcoin and cryptocurrencies.
Most Bitcoiners know that CBDCs are just a way for governments to try and maintain their control over money, that they won’t add any real benefit to the general public and that ultimately, governments are going to take advantage of the broad increases in surveillance capabilities and powers that a programmable currency can bring. But how feasible would it really be for the most powerful government in the world to create a CBDC?
The author of this article explains why a CBDC is completely impractical on a technological level and would usher in a very destructive restructuring of the U.S. financial services sector if adopted. |
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With Fiat Currencies Crumbling, It’s Time To Denominate In Bitcoin Terms
By Stephan Livera The fiat currencies of the world are struggling to retain purchasing power. Most of them are also devaluing against the world’s reserve currency, which creates a false idea that the U.S. dollar is strong and well prepared to deal with the current economic turmoil occurring worldwide.
That perception could not be more erroneous. The rampant inflation of the dollar in the last few years is astonishing. The purchasing power of the USD is decreasing at an alarming rate just as every other fiat currency in the world does. Because of that, Bitcoiners should begin to think in a Bitcoin-denominated world. |
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1. “Through the rise and fall of Silk Road, through the relentless years of my incarceration … Bitcoin keeps going.” – Ross Ulbricht
2. Grassroots Bitcoin, held at Bitcoin Park in Nashville, Tennessee, brought Bitcoin meetup organizers from all over the country to collaborate together.
3. Bitcoin is becoming more popular in its use as a medium of exchange. Some tenants and landlords may prefer to transact exclusively in bitcoin.
4. Bitcoin converts wasted energy into a different kind of battery for a more sustainable future. The battery of human time, effort and ingenuity: money.
5. Bitcoin and real estate go hand in hand. One is an illiquid, but physical income-generating asset and the other is a highly liquid, digital asset.
6. Bear market woes continue for miners as bitcoin’s price sits 70% off its record highs. But hope springs eternal. |
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Are Bitcoin Miners Selling The Bottom?
By Zack Voell Navigating a bear market is hard, and miners don't have it easy. Nevertheless, miners are conditioned to be the bulls of last resort, as they keep buying and mining bitcoin even when prices are ranging low.
Every month, miners have to face the hard decision of holding or selling their newly acquired bitcoin, or even part of their reserves. As the price was ramping up, most of the companies were focused on expanding operations, and some even used leverage to expand.
Throughout this bear market, we have seen different strategies from different public miners. Some of them are now in large amounts of debt. What led to some companies file for bankruptcy, could become an opportunity for others to acquire marked down hardware.
The lessons are now written in history. Miners will need to be aware and have a good strategy for the next cycle, in order to operate profitably and accumulate as much bitcoin as possible. |
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It's important to keep in shape, be creative and keep working hard. Unfortunately many need to treat their money as a hobby too, since it debasement requires constant investment to retain purchasing power. But now we have a new standard; the bitcoin standard.
In the future, we will only focus on things that matter to us, as money will be sound by default.
Stack harder,
Bam |
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Today's email was brought to you with ♥ by Bam.
Keep on reading, keep on stacking. |
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