+3% move in in Gold, biggest since bank crises in March! What do they say, what does gold know?

Interestingly, BTC was up almost 10% that day in March, flat today.

$24.8k incoming

Cover of the “Morning Brew” today was the Hamas being funded by cryptocurrency article.

It starts.

The article states Hamas raised $30,000 in Bitcoin in 2019 and $41 million worth of crypto was deposited into wallets linked to Hamas between the summer of 2022 and summer of 2023.

“Crypto’s anonymity and near untraceability have made it a popular choice for terror financing” is how the article ends.

This Forbes article from 2009 explains a different story on how Hamas gets it money, long before Bitcoin was a talking point.

https://www.forbes.com/2009/01/16/gaza-hamas-funding-oped-cx_re_0116ehrenfeld.html?sh=1c9ef3cc7afb

The numbers are staggering, in 2009 dollars, compared to the numbers reported being funded by crypto today. It feels this is a deliberate effort at this stage in the game to have people that know nothing about bitcoin read these headlines and strengthen their hate for bitcoin because it’s funding the killing of innocent children.

Absolutely some money has come from Bitcoin and other cryptocurrencies, no doubt. But bitcoin certainly isn’t the enemy here.

#Walgreens strikes now? Is there an industry that isn’t striking at this point? I used to work in accounting, those guys/girls don’t get paid shit compared to other similar professions in the service industry, when do the CPAs go on strike?

Crazy times

“Time Preference”- 15th Edition

1) # Full nodes (reachable) - 16,697 (-0.08%)

2) # LN nodes - 14,384 (+0.31%)

3) LN capacity (BTC) - 5,295 (+10.94%)

4) BTC addresses > 1M sats - 12.35M (-0.11%)

5) BTC addresses > 10M sats - 4.48M (-0.08%)

6) BTC addresses > 100M sats - 1.02M (-0.20%)

7) Hashrate (EH/s) - 432 (+5.62%)

8) Price - $27,933 (-0.22%) (Sunday close)

9 Price/Hashrate - 65 (-5.53%)

10) Michigan businesses accepting BTC (btcmap.org) - 21 (n/c)

* % change figures from prev.

The highlight here is the increase in LN capacity but it’s so big I’d like to corroborate it elsewhere (I use mempool.space for my data). 10% is quite the jump I’m curious if this is a glitch or true growth in capacity from prior week. Will stay close to this figure in next week’s report - It’s the first time back above the arbitrary 5K mark since July.

All adoption metrics at an address level continue to decline. What will be the spark to tick us back up again? A war in the Middle East? Gold price action getting that early safe haven bid, curious to see where bitcoin responds. Still below critical resistance at $28.5K. DCA.

Have a great week!

#bitcoin #timepreference #mining #lightningnetwork⚡️

GM.

Just for a laugh, put an offer on a house yesterday and didn’t get it. This was the summary from my realtor:

The seller has decided to go with another offer

Here is a summary of what we received

16-Offers

4-Cash Offers

14-Escalation Clauses

8-Appraisal Gaps

6-Waived Inspections

Thank you again for submitting an offer and please reach out if you have any questions

Thanks :)

Wild, when does it end?

Fuck yeah it is. Gimme a 7 iron all day over a wedge

GM

Notable strength in #bitcoin as of late, relative to other assets.

For fun - I’m feeling $50k by end of year.

Will listen and agreed, thank you’

Thanks! I like her stuff

“Time Preference”- 14th Edition

1) # Full nodes (reachable) - 16,710 (-0.29%)

2) # LN nodes - 14,339 (-7.64%)

3) LN capacity (BTC) - 4,773 (+0.70%)

4) BTC addresses > 1M sats - 12.36M (-0.39%)

5) BTC addresses > 10M sats - 4.49M (-0.07%)

6) BTC addresses > 100M sats - 1.02M (-0.01%)

7) Hashrate (EH/s) - 409 (+2.25%)

8) Price - $27,995 (+6.66%) (Sunday close)

9 Price/Hashrate - 68 (+4.31%)

10) Michigan businesses accepting BTC (btcmap.org) - 21 (n/c)

* % change figures from prev.

Similar to the previous week in # of addresses w/ a balance >1M decreasing we also see decreases in addresses w/ a balance >10M and >100M sats. Couple that w/ almost a 8% decrease in LN nodes and we get a pretty gnarly week for metrics, outside of price finally bouncing, up almost 7% from the prior week.

Really it's the first notable increase in price since I've been doing this, surpassing the previous largest increase in the 12th edition (2 weeks ago) of almost 3%. With that being said we bounced into critical resistance (lost support from earlier this year) stemming back to the summer of 2021 - I'm sure most remember the China mining ban and price decline to 28.5K. This is a BIG area for me at a macro level and I'm curious to see how it plays out in the short / intermediate term although longer term it doesn't much matter.

Of note, we're currently above a stronger trend signal, the monthly EMA 8 at $27.2k. Last time we came back above that moving average from below was in Jan this year - We all know what happened after that (although I'm not personally expecting something similar w/ DXY ripping and Gold/Silver getting slammed right now). Still have to call it out though.

At the end of the day we're not seeing any meaningful growth in the network as adoption actually dips lower according to most metrics I'm tracking here. Nothing out of the ordinary but still makes you wonder what that catalyst will be and when it will come - I personally don't think a 'spot ETF approval' does shit for true Bitcoin adoption but that's just me.

Have a great week!

#bitcoin #timepreference #mining #lightningnetwork⚡️

Thanks. Of course it’s a ‘crypto’ wallet but still interesting

Source?

GM

Best bitcoin podcast for a newbie in 20 mins or less? Is there one?

#asknostr

That’s badass man I’d enjoy taking that class

You know what they say - what does gold know? On track for its worst weekly close since June 2021

What is SAR?

2 weeks later, strike has expanded to additional ‘Big 3’ plants and distribution centers. According to The Detroit News, 25,300 out of the UAW’s 146,000 members at the big 3 are on strike, or 17% of the workforce.

15 days of strikes and what seems to be little progress as the strike expands. Ford dealers specifically are losing access to some part deliveries, according to CarDealershipGuy on Twitter (pretty good follow for industry related news).

I can’t expect this to be good for car prices or inflation in general. Although there is a yin and a yang - Supply down due to the strike but with suppliers not shipping parts to the automakers, furloughs and temporary layoffs should be coming which would represent the market’s response, decreasing demand as supply also decreases. Should is key because free market responses to these types of situations seem to be increasingly rare, I wouldn’t be surprised to see the government step in somehow if this continues.

#strike #uaw #automotive nostr:note12lfamshucqhzj0z8ydwydurhtj3v32tjz28tfe7fvrdsjwr2zfys66jtz9

13th *** Edition!!!

Sometimes I wish I could edit on here but that’s life. nostr:note1tug7s4fqjy3qm89wffu9fszzrru0j6wc4g6ckqhu3uwslsmewtvqlvyvh3