Thanks mate!
Exactly, planning, execution and discipline, are key ingredients of success...#Bitcoin🧡
🧠Quote(s) of the week:
"Buying Bitcoin is a game of accumulation, and it's the best tool to counteract monetary inflation. Keep purchasing Bitcoin until it's no longer feasible. Fiat is designed to be inflationary, the monetary system itself is this way. The best counterattack is Bitcoin"
"You panic sell Bitcoin because it's a speculative trade. I calmly buy Bitcoin because it is the greatest long-term savings vehicle humanity has ever seen. We are not the same." - Dr. Jeff Ross
🧡Bitcoin news🧡:
➡️ El Salvador President Nayib Bukele scared off Wall Street by embracing Bitcoin. Two years later, the bond rally he’s overseeing is proving too lucrative to resist. "Eye-popping 70% returns — the best among dollar bonds from emerging markets this year”.
I quote Alex Gladstein: "At some point, it’s going to be hard to distinguish why Salvadoran bonds are attractive. Later it will be obvious that a nation-state stacking BTC during the adoption phase will be easily able to pay back its fiat debt. I hope that more emerging market countries figure this out."
TLDR: The country which adopted Bitcoin first has the best bond returns among emerging markets. Fascinating isn't it?!
➡️Bitcoin OG and Blockstream CEO Adam Back predicts that Bitcoin will break $100,000 before the 2024 Halving. For some strange feeling, I trust this guy. Adam Back was one of the original developers of Bitcoin. But let's assume the halving is already priced in, let's see have a look at the thing that isn't priced in yet:
- Spot ETF
- Absolute scarcity
- The Lightning Network
- FAAMG buying Bitcoin
- Legal tender in larger countries
"The halving has no impact on the Bitcoin price because the halving’s impact on the Bitcoin price is already priced in by people who believe the halving has no impact on the Bitcoin price because it’s already priced in." -BitPaine
Get it :)
➡️ Last week the SEC delayed a decision on ArkInvest's Bitcoin Spot ETF last Friday. The next (7) deadlines are all in the first week of September -- where the SEC has to comment on ETFs by BlackRock, VanEck, Fidelity & Valkyrie, among others. I expect more delay and as mentioned in a previous recap I truly believe the first ETF will be accepted by the SEC just before the halving. And if you think Blackrock and Fidelity are just going to roll over and give up on Bitcoin because the ETF (in its current form) may get denied, you are a fool. They've made their intentions clear. Fidelity literally predicted $1 billion per BTC. The big boys just need more time to scoop more cheap sats.
➡️ Last week on the 15th of August Europe's first spot Bitcoin ETF was listed in Amsterdam and trading under the ticker $BCOIN, investors will pay a 1.5% annual management fee. Fidelity Digital Assets are the custodians.
➡️ Bitcoin crashed to $26.1k, and it seems nothing more than a massive liquidation. And it was one of the largest daily liquidations by volume in history. More than a BILLION worth of positions got wiped out in 24 hours. This mass-liquidation event involved more outflows in 1 day than during the FTX collapse in November 2022.
Leveraged long liquidation cascade, bruv. For the rest of us non-trading degens... Bitcoin and chill.
➡️I quote Pete Rizzo: "19 years ago today (14th of August), cypherpunk and Bitcoin pioneer Hal Finney officially released RPoW. A novel digital cash that combined proof-of-work with an inflation-resistant money, RPoW may have failed, but it proved critical to cryptocurrency. Thanks, Hal for never giving up!"
"Exactly 15 years ago (18th of August), Satoshi Nakamoto officially registered the 1st Bitcoin website. Ever since, http://Bitcoin.org has hosted his code, giving financial freedom to millions around the world"
➡️Bitcoin makes a new ATH in Argentina, officially passing 10 million Argentinian pesos.
The Argentinian stock market is up a massive 2282% in just 6 years! In real terms? Down 12%. Fun how that works isn't it?
And to make it even worse Argentina fixes oil prices at $56 a Barrel to put inflation in check. We all know price controls won't help!
Price fixing leads to shortages which inevitably leads to higher long-term inflation.
➡️Jack Dorsey: Bitcoin will completely change social media’s advertising business mode
➡️Coinbase gets approval to offer crypto derivatives directly to retail US users. The offering will launch within weeks. So let me get this straight. In the middle of a lawsuit with the SEC, they get approved to offer derivatives to retail. The SEC really wants to protect retail, right?
➡️ Bitcoin number of addresses holding 1+ coins just reached an ATH of 1,014,879.
💸Traditional Finance / Macro:
🏦Banks:
👉🏽 In the US there are now 14 banks calling for a recession and 6 banks calling for a soft landing. At the Fed’s last meeting, they said they are no longer forecasting a recession. JP Morgan was the most recent bank to say they no longer expect a recession.
What will it be? A soft landing or a recession? Or a soft landing for too-big-to-fail banks, recession for everyone else.
Talking about too big to fail:
UBS, to pay a $1.4 billion fine for fraud in mortgage-backed securities. Earlier this year, UBS acquired Credit Suisse. When combined, this brings the banks’ total fines paid since 2000 up to $31 BILLION. They have been fined a total of 177 times.
Anyway, if you want to dive into a rabbit hole, now do Deutschebank, Wells Fargo, and Bank of America..and...and...and! All criminals, but they're a bank so it's okay. Right?
👉🏽 Michael Burry just shorted the market with $1.6B Bought $890M of $SPY Puts Bought $740M of $QQQ Puts. This now makes up 93% of his entire portfolio.
Tip: Watch the movie The Big Short. "Those guys knew the logic, math & fundamentals were in their favor…but they second-guessed themselves at points because the vast majority of people thought they were crazy. Kinda like Bitcoin." Blue Collar Bitcoin
👉🏽 Emergency loans from the Fed's BTFP facility have reached $107.24 billion, another all-time high. BTFP has a capacity of $2 trillion. Total losses on US Treasuries due to rising rates are $1.371 trillion. If need be... the Fed could backstop the entire US Treasury market's current losses. One world: UNSUSTABLE!
🌎Macro/Geopolitics:
👉🏽Rates on 30-year mortgages in the US are now the highest since 2000, at 7.53%.
"Housing Market Update:
1. Average 30Y mortgage rate at 7.5%, highest since 2000
2. Median rent price at a record $2000/month
3. Mortgage demand is at its lowest since 1995
4. Median house now costs a record 560% of the median income
5. Homebuyers spend a record 40% of their income on mortgage payments
This is the least affordable housing market in history." - The Kobeissi Letter
2 years ago, buying a $500,000 home with 20% down meant you paid $207,000 in interest over a 30-year mortgage. Now, buying that same home means you pay $600,000 in interest over a 30-year mortgage. Yikes!
Or the example from last week's Weekly Recap: "Interest rates on a 30-year mortgage are now at their highest in 23 years. New homebuyers are now spending a record 40% of their income on a mortgage. Meanwhile, the median sales price of a home in the US is at 560% of the median annual income." Again, unsustainable.
👉🏽 Last week the US Secretary of the Treasury described her hallucinogenic trip on shrooms in China on national TV (CNN). By the way, the US Treasury plans to borrow $1.1 trillion before 2024, pushing total US debt above $33.5 trillion. Don't do drugs kids!
Meanwhile, and I quote Guy Swann:
"• Biden just asked Congress for $24,000,000,000 MORE for Ukraine
• Maui victims will get $700 each
• Population of Maui = ~180,000 $24B = $130,000 for EACH Maui resident...
We've sent ~$80 Billion to Ukraine so far... I'll let you do the math."
I don't want to interfere in US politics or what so ever, but just want to say: numbers don't lie. It reveals true incentives.
👉🏽 "In the first 7 months of 2023, the U.S. has seen an alarming 402 corporate bankruptcies. This is more than the entire 2022 total of 373. In the first 7 months of 2022, the U.S. saw just 205 bankruptcies. In other words, bankruptcies this year are up 96% compared to 2022. Can the Fed really avoid a recession?" -The Kobeissi Letter
I have a feeling that the Fed is trying its best to delay the recession till the elections next year. How successful they will be in this endeavor still remains to be seen.
👉🏽 Last week I mentioned the following:
"Where other countries are fighting #inflation, China has entered full deflation mode! CPI -0.3% PPI -4.4%." -Jeroen Blokland
China sees deflation for the first time since COVID Robin Xing, chief China economist at Morgan Stanley says policymakers “need to accelerate all the government spending, raising government debt to break this debt deflation trap."
China's 10y yields keep falling a sign that the economy is hard landing/crashing. China's 10y yield is now at 2.6%, the lowest level since Corona crisis in 2020. The Chinese Yuan is at its weakest since 2007.
A couple of days ago I shared in my stories a great threat by Sam Callahan on the challenges China currently faces.
TLDR: "So that's where China finds itself today. Its economy is slowing, prices are falling, the gov is censoring, intervening, and stimulating, the PBOC is cutting rates, and its currency is falling. Many expect this is just the beginning and more stimulus is on the horizon."
Even Legendary investor Ray Dalio who has +$3B invested in Chinese businesses says the country is “overdue” for a debt shake-up. China has almost doubled its debt over the past 5 years. Debt-to-GDP is now at a record 281.5%
On top of that China Evergrande seeks Chapter 15 protection in Manhattan bankruptcy court Evergrande owes money to about 171 domestic banks and 121 other financial firms. There will be consequences for the banking system. A credit crunch could follow, analysts fear, which would be bad news for China and the global economy. Remember Evergrande has struggled to pay off its loans after officially defaulting on its debt in late-2021. The property company’s debt load reached 2.437 trillion yuan ($340 billion) by the end of last year. That is roughly 2% of China’s entire gross domestic product. 2% GDP!
👉🏽The 10-year at 4.27% is its highest closing level since June 16, 2008.
👉🏽First Germany, and now the Netherlands entering a recession. The Dutch economy unexpectedly succumbs to its first recession since the pandemic on weakness in both consumer spending and exports. Now officially European countries in a recession are:
🇪🇪 Estonia
🇭🇺 Hungary
🇳🇱 Netherlands
🇩🇪 Germany
Germany is the number 1 economy in the Eurozone and the Netherlands is the 5th largest economy in the Eurozone.
The EU as a whole is in decline.
Opt-out Bitcoin.
Credit: I have used multiple sources!
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: nostr:npub1sqzr42dj8vx32yd5jcvvl3ytux45kl0etgf6y2ymjvmd7lqmuwmqk9vk7vis especially suited for beginners or people that want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (Youtube) for more info.
⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It's that simple.
⠀⠀⠀⠀⠀⠀⠀⠀
Is this post helpful to you? If so, please share it and support my work with sats
#zap🧡 #weeklyrecap #nostr #plebchain #grownostr #stacksats
#zapathon #bitcoin #nostr #plebchain #grownostr #zap #art #memes #pleb 
#zapathon #bitcoin #nostr #plebchain #grownostr #zap #pleb 
Good morning Nostr!🧡
#zapathon #bitcoin #nostr #plebchain #grownostr #zap #pleb 
People really should calm their tits and just stay humble & stack sats!😂
Anyway, good morning Matt🧡
Finally, the day has come!
China Evergrande seeks Chapter 15 protection in Manhattan bankruptcy court
Evergrande owes money to about 171 domestic banks and 121 other financial firms. There will be consequences for the banking system. A credit crunch could follow, analysts fear, which would be bad news for China and the global economy.
Remember Evergrande has struggled to pay off its loans after officially defaulting on its debt in late-2021. The property company’s debt load reached 2.437 trillion yuan ($340 billion) by the end of last year. That is roughly 2% of China’s entire gross domestic product. 2% GDP!
Don’t do shitcoins
GN!
#zapathon #bitcoin #nostr #plebchain #grownostr #zap #shitcoins #memes #pleb 
First Germany, now the Netherlands enters recession.
The Dutch economy unexpectedly succumbs to its first recession since the pandemic on weakness in both consumer spending and exports.
Now officially European countries in recession are:
🇪🇪 Estonia
🇭🇺 Hungary
🇳🇱 Netherlands
🇩🇪 Germany
Germany is the number 1 economy in the Eurozone and the Netherlands is the 5th largest economy in the Eurozone.
Now check out that second picture and ask yourself how fucking stupid is Lagarde or how stupid are the people here in Europe believing central bankers!
The EU as a whole is in decline. Opt out #Bitcoin
#zapathon #nostr #plebchain #grownostr #zap #lagarde #recession 
Te lo dije!
Say it, just say it out loud!🧡
https://x.com/nayibbukele/status/1691520937424736258?s=46&t=F791BMa98sP9DJoLz_JvoA
#zapathon #bitcoin #nostr #plebchain #grownostr #zap #elsalvador #pleb
🧠Quote of the week:
"If you get sad when the price of Bitcoin goes down it shows that fiat matters to you.
If you get happy when the price of Bitcoin goes down it shows that BTC matters to you." nostr:npub18csutpavpzedqgza5vqxclnq9lf2x24xew05ksa829eqkx59k87s6zjpjh
Bitcoin news🧡
➡️ Libertarian and pro-Bitcoin candidate, Javier Milei, has taken a commanding lead in the Argentinian primary elections:
“Se les termina el chiste de la maquinita”
“The fuckery of their money printer is coming to an end”
Great video: https://twitter.com/ho_fernandez/status/1690917479214678016
"In the video, he believes that:
-The central bank is a scam controlled by politicians with inflationary taxes.
-Bitcoin represents the return of money to the private sector creator.
-Bitcoin is safer to transact than silver & gold.
-Bitcoin's algorithm caps its supply & prevents inflation.
-Governments won't give up their fiat currency.
-Bitcoin is the natural reaction to put money back in the hands of the people.
-He concludes that it's time to shut down the central banks."
Argentina's inflation is already at 114% and its population is looking for answers.
Bitcoin is about to break through the 10,000,000 Argentinian Pesos milestone, having increased by over 85X since 2019!
➡️ SEC approves 2x leveraged Bitcoin futures ETF but DENIES spot ETF
➡️HODLers have never had more conviction Long-Term Holder supply just hit a record-breaking 75% of circulating supply (14.59Mn) while volatility is at an all-time low. Diamond hands!
➡️ All the CrYpTo influencers came out with the news that PayPal will launch a stablecoin on Ethereum, citing a 'shift toward digital currencies'. Explaining how great this would be. How this is another example of the use case for Ethereum. Even here in the Netherlands, some platforms shared the news as if it was a big thing & a good thing.
They, shitcoin lovers/crypto influencers, forget to mention that PayPal stablecoin gives the company the ability to freeze and wipe your assets.
So-called “stablecoins” are permissioned fiat, corporate versions of CBDC.
"The new Paypal USD stablecoin has an "assetProtection" role which can wipe your balance in two transactions (first `freeze`, then `wipeFrozenAddress`) In smart contract security we call this a "centralization attack vector".
➡️ A new peer-reviewed piece highlights how Bitcoin mining could help renewables and drive decarbonization of the grid. The study highlights Bitcoin's positive impact as "a potential contributor to renewable energy penetration and net decarbonization of the energy grid."
Funny isn't it that the (negative) narrative around Bitcoin completely shifted after BlackRock etc. made it clear they wanted to invest in Bitcoin BlackRock insiders say spot Bitcoin ETF approval is expected in "four to six months".
Roughly two months before the halving.
Meanwhile, another paper coming from the mainstream media in favor of Bitcoin Mining. "Bitcoin has transitioned from being an energy waste to a potential asset (at least in public view)."
You can read the full paper here: https://www.mdpi.com/2078-1547/14/3/35
➡️ Currently, 13.3M hodlers (1+ year) control the supply against 6.1M (Less than 1+ year). Never have we seen such a wide discrepancy between these two cohorts.
➡️ Bitcoin mining firm Core Scientific will exit bankruptcy proceedings amid a $77mn deal with Bitmain. Bitmain will acquire a $54 million stake in CS in exchange for 27,000 Antminers.
➡️ In 2022, Bitcoin has processed over $8.2 trillion in transactions, or $260,000 every second. #VISA processed less than $6 trillion in transactions, while #Mastercard - only $2.5 trillion
➡️ Chairman of $385B Private Equity Group: "The mighty BlackRock is willing to have a Bitcoin ETF, maybe Bitcoin is going to be around for a while."
➡️ Number of Bitcoin addresses holding 1+ and 0.1+ bitcoins both just reached an all-time high...
➡️ Which countries have the Lightning nodes with the most Bitcoin? 387.33 Bitcoin 94.98 Bitcoin 85.76 Bitcoin
➡️ Coinbase becomes the first publicly traded company to launch its own decentralized blockchain, Base. Now read that out loud, but very slowly. Especially the bit: ITS OWN DECENTRALIZED...OWN
➡️ The BMC estimates the YoY Bitcoin hash rate increased +70%, efficiency +24%, and sustainable energy mix improved to 59.9% based upon H1 2023 survey results of BMC members representing 43% of the worldwide mining network.
➡️ In the 2nd quarter, Riot was able to bring down their average cost to mine 1 Bitcoin to $8,389
💸Traditional Finance / Macro:
🏦Banks:
👉🏽Last week I mentioned the following quote by Joe Consorti: "The Fed's BTFP facility is $105.6 billion in size. Unrealized losses on US Treasuries total $1.1 trillion. That means roughly 1/10th of duration losses caused by the Fed's rate hikes are being papered over. That's a pretty big band-aid."
The Fed's BTFP facility has now risen to another all-time high of $106.86 billion in outstanding emergency loans.
🌎Macro/Geopolitics:
👉🏽 "US inflation a tad lower than what economists expected: US July CPI accelerates to 3.2% YoY from 3% in June vs 3.3% expected, BUT the first acceleration after 12 consecutive months of decline. Core CPI slows to 4.7% YoY from 4.8% in June as expected. Shelter costs contributed to about 90% of the increase in July CPI. Fed Swaps price in lower odds (20%) of another rate hike this year."
👉🏽 "In August 2022, the US Senate passed a bill to hire 87,000 new IRS agents to investigate citizens' finances. In November 2022, the US Pentagon failed its fifth consecutive audit, unable to account for 61% of its $3.5 trillion in assets." Let that sink in for a minute. (Source Watcher Guru)
👉🏽 I have shared numerous times the great analyzes made by 'The Kobeissi Letter'. They are always right on point concerning the US debt spiral & deficits and the markets in general. Last week they came up with the following tweets:
"The US government has spent an alarming $6.7 trillion over the last 12 months. This is up 14% since last year and just shy of the $7.6 trillion record during 2020. We are now spending just $900 billion less than a period when $4 trillion was handed out. The worst part? Over the last 12 months, the US deficit is at $1.4 trillion. This is up $1 TRILLION compared to last year. Simply put, this is unsustainable."
It is a wrecking ball and it can't be stopped.
👉🏽 "Interest rates on a 30-year mortgage are now at their highest in 23 years. New homebuyers are now spending a record 40% of their income on a mortgage. Meanwhile, the median sales price of a home in the US is at 560% of the median annual income." Again, unsustainable.
👉🏽 "In the US, interest rates on household items are skyrocketing. In just 1 year, the average interest rate on credit card debt has gone from 14% to 21%+. New car loan rates went from 4% to 8% while used car loan rates are at 12%+. Mortgage rates are at a fresh high of 7.2%, up from 2.7% in 2021. How can the average person afford any of these items?"
Consumers don't load up on credit after rates go from 15% → 25% for fun. They do it because they're running out of money.
👉🏽 The US just published their budget numbers showing a $221 BILLION deficit in July alone. With $276 billion in receipts, the US spent a massive $497 billion last month. Total interest on US debt YTD is now at $726 BILLION. Deficts are always a spending problem.
👉🏽 "The Congressional Budget Office, using *generous* inflation & interest rate forecasts, is openly projecting deficits as a % of GDP to rise each and every year this decade, while debt/GDP rises to 200% by 2050." - Dylan LeClair
- Bonds are no longer the safe option - Financial Times
👉🏽 "Where other countries are fighting #inflation, #China has entered full #deflation mode! CPI -0.3% PPI -4.4%." -Jeroen Blokland
China sees deflation for the first time since COVID Robin Xing, chief China economist at Morgan Stanley says policymakers “need to accelerate all the government spending, raising government debt to break this debt deflation trap."
👉🏽 "The bond market is telling the Fed it's done with rate hikes. There's just a 15% chance of a September rate hike being priced into fed funds futures and a 21% chance of one in November. The Fed is now expected to start cutting rates in early 2024, according to market pricing"
Great timing, exactly when the Bitcoin Halving starts!
I want to end this weekly recap with a great tweet by Sam Callahan:
"A recent audit of the Bank of Lebanon showed:
1.) Officials likely embezzled over $300 million to family members and close associates
2.) They implemented a nationally-regulated Ponzi scheme to explode the national debt
3.) They hid $76 billion in losses from the Ponzi scheme by cooking their books, failing to meet basic accounting standards
Meanwhile, the Lebanese pound has lost 98% of its value against the dollar, inflation sits at 254% YoY, and many Lebanese have been driven into poverty.
Bitcoin is a monetary system that can't be controlled, manipulated, or abused by a small group of central bankers. Stories like this will soon be a thing of the past."
Now remember this bank had KYC & AML procedures. We will see this happen in the future, as the same people want to implement CBDCs.
Credit: I have used multiple sources!
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: nostr:npub1sqzr42dj8vx32yd5jcvvl3ytux45kl0etgf6y2ymjvmd7lqmuwmqk9vk7vis especially suited for beginners or people that want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (Youtube) for more info.
⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It's that simple.
⠀⠀⠀⠀⠀⠀⠀⠀
Is this post helpful to you? If so, please share it and support my work with sats #zap🧡
#weeklyrecap #nostr #plebchain #grownostr #stacksats
nostr:npub1ph8u4tpadanedaauxq986rfmwxadz3tlfe4h97w0fy8pu4tk00jqfup7dv 🧡
As always delivering!
#zapathon #bitcoin #nostr #plebchain #grownostr #zap #art #memes #pleb 
For everyone who needs to hear it… Naval!
My own proof of work!🙏🏽💪🏽
#plebchain #grownostr #zapaton #nostrplebs #nostr #zaps #bitcoin
https://twitter.com/navalismhq/status/1688068635850346496?s=46&t=F791BMa98sP9DJoLz_JvoA https://nostr.build/av/3eb5fd3e12d04226c4b3c2b74f8c42a5ec3a2c36b892373cb28901ee40c5e845.mov
Funny isn't it that the (negative) narrative around Bitcoin completely shifted after BlackRock etc. made it clear they wanted to invest in Bitcoin
BlackRock insiders say spot #Bitcoin ETF approval is expected in "four to six months".
Roughly two months before the halving.
Meanwhile, another paper coming from the mainstream media in favor of Bitcoin Mining.
"Bitcoin has transitioned from being an energy waste to a potential asset (at least in public view)."
Read the paper here:
https://www.mdpi.com/2078-1547/14/3/35
Credit Dennis Porter (twitter)
#plebchain #grownostr #zapaton #nostrplebs #nostr #zaps #bitcoin #blackrock
https://nostr.build/av/4a76ae383880138ef6351d26cccfc6f2314059ba2737ee097d9f3874373f8ffa.mp4
Good morning / Good afternoon 🧡⚡️
Good morning / Good afternoon!🧡⚡️
#plebchain #grownostr #zapaton #nostrplebs #nostr #zaps #bitcoin
https://twitter.com/btc_for_freedom/status/1688548713025642497?s=46&t=F791BMa98sP9DJoLz_JvoA 
Cybercrime on the Ethereum Blockchain
An academic paper investigates how Ethereum is a criminal’s first choice for cybercrime:
“We identify more than 1.78 million transactions that are externally verified to be linked to cybercrime, corresponding to an aggregate amount of $1.65 billion of funds lost. In a first step, our analysis shows that the FTC understates the amount of abducted funds on the Ethereum blockchain by a staggering factor of 16.”
Check out especially point 5a (slide 4): "One way in which victims..."
That's the reason why shitcoin casinos like Coinbase, Binance, and Bitvavo exist. That's why new services like Finst (here in the Netherlands) exist. And it's disgusting that so-called fin influencers promoting these types of platforms.
Since its inception, Ethereum was designed for fraud.
Waste of energy, centralization, rug pulls / scams, and more exit liquidity! Basically: Proof of Stake
I quote Saifedean:
'Ethereum is the mother asshole from which shitcoins spring.'
Ask yourself, what is the uniqueness of a digital asset controlled by large stakeholders?
Now by no means, I am giving financial advice, but you know I am Bitcoin only.
#Bitcoin is going to stay forever. Cryptos like Ethereum will not. Period!
Bitcoin is the only thing really decentralized. Anything else apart from Bitcoin, including basically all other cryptocurrencies, is not really decentralized.
Source: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4527415
#plebchain #grownostr #zapaton #nostrplebs #nostr #zaps