GM. This is Ponder Crypto.
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The newsletter that reminds you to get jacked and stack sats. 💪🏻
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📹 4 Reasons Why Bitcoin is the Ultimate Crisis Currency
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📈 The Institutions are Coming
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📰 Crypto Chronicles 2023: Week 42
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🎥 This Week on PonderTube
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😎 Crypto for Beginners - The Problem with Fiat Currencies
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🤔 Quiz Time! - The Gold Standard
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📹NEW Video from Ponder Crypto
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Why We Created This Video: "In a world where conflict and instability are on the rise, Bitcoin provides an invaluable insurance policy for individuals everywhere. With capabilities of asset mobility, censorship resistance, and lack of physical restraints, Bitcoin is one of the most powerful tools available to safeguard financial security."
Unfortunately, we feel that our current economical and financial situation is going to get worse before it gets better. There are so many things that are out of our control and we need to try to prepare for the future the best that we can. Bitcoin can provide access to financial freedom in circumstances where we need to ready ourselves for situations unknown.
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📈 The Institutions are Coming
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- 3 teaspoons of UpTober
- 1 dash of fake Bitcoin ETF tweets
- 192 ounces of Bitcoin halving countdown
- 5 drops of 30 year treasury bond yields
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Mix it all together and what do you have?
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A scrumptious bull run appetizer!
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Exchange balances are drying up and the desire for a hedge against uncertainty is on the rise.
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Larry Fink was on FOX Business discussing the fake Bitcoin Spot ETF tweet that shot Bitcoin up 10% in 10 minutes, and although the approval was false, his statements were very telling... Allow me to paraphrase.
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You can have your opinion about BlackRock but the bottom line is, when they speak, people listen.
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When we finally see a Bitcoin spot ETF approved (which could be within the next couple of months), we will be at the start of a multi-year bull run as hundreds of billions of dollars flood into the new ETF funds.
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One critique of Bitcoin is its notable volatility, which challenges its claim as a reliable store of value.
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What we've seen with Bitcoin over the last decade is that the year over year volatility has been going down.
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The reason for this is as the marketcap of anything goes up, it takes more money to make significant price moves.
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In the early days, someone could have bought thousands of dollars worth of Bitcoin and made the price jump hundreds of percent in a single transaction.
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As Bitcoin's volatility decreases, institutions are becoming more receptive to including it in their portfolio distributions.
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When more institutional investors come in, the market cap of Bitcoin grows along with the price, making it less volatile, which entices more institutional investors to come in.
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We are very close to the next chapter of Bitcoin, which will be all about institutional adoption.
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Pretty soon, the next time you access your 401k online, you will see an allocation has been made to Bitcoin by the financial planner who manages your retirement account.
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Based on your selected risk tolerance, you will see anywhere from 2-10% of your entire retirement portfolio allocated to Bitcoin, mark my words.
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If you want to front run the institutions, your time is running out.
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Not financial advice, just my .02 satoshis.
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📰 Crypto Chronicles 2023: Week 42
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Interesting stories this week.
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Brief Summary: The U.S. government currently holds around $5.3 billion worth of Bitcoin (BTC), based on publicly available information. This cryptocurrency is the result of three documented seizures, including the Silk Road, Bitfinex Hack, and James Zhong cases. These BTC holdings are stored in offline hardware wallets controlled by the U.S. Department of Justice and the Internal Revenue Service, with the U.S. Marshals Service handling the assets after a court order. The government's potential sale of this Bitcoin could influence cryptocurrency prices and the digital asset market. Unlike in the past, the government now sells seized tokens on crypto exchanges rather than through auctions. A significant offload on Coinbase was reported in March 2023.
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Ponder Crypto's Take: Some of the Bitcoin seized by the US has been held for over 10 years. At the time, Bitcoin was worth hundreds of dollars and now it's in the tens of thousands. We keep hearing about payouts and liquidations but here we are, many years later and the US still has control of a significant percentage of the entire supply of Bitcoin. The tinfoil hat side of me says they are keeping control of their holdings long enough to see whether or not Bitcoin is able to position itself as a global reserve currency. And if it does, they would "legally/illegally" find a way to retain possession, making them one of the largest holders at a nation-state level. What I really want to know is, who has access to the private keys that control their holdings?? 👀
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Brief Summary: Binance.US, a cryptocurrency exchange, has updated its terms of service, indicating that direct U.S. dollar withdrawals are no longer supported. Users can now convert their dollars into digital assets for withdrawals. This change is part of Binance.US's shift towards becoming a "crypto-only exchange" due to challenges with fiat operations. In June 2023, the exchange suspended U.S. dollar deposits and warned of temporary solutions for fiat withdrawal issues.
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Ponder Crypto's Take: GET YOUR CRYPTO OFF EXCHANGES AND INTO A HARDWARE WALLET! Crypto exchanges are necessary, but just like a public bathroom, do not linger longer than you have to. Get your crypto, withdraw it, and get out. It's impossible to know the inner workings of these exchanges. Think about how hard it would be to run a business on top of the most volatile asset ever known to man. Even if a company was doing everything on the up and up, there is a much higher chance that they make a terrible business decision that can lead to bankruptcy and your funds being tied up for years and years before you finally see pennies on the dollar of the amount they held.
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Brief Summary: Grayscale Investments, a leading digital asset manager, is striving to list its Grayscale Bitcoin Trust (GBTC) as a spot ETF on NYSE Arca after winning a legal battle against the SEC's previous denial of registration. GBTC's recent performance, with its discount to net asset value decreasing, reflects growing investor interest even before approval. Grayscale operates under the Digital Currency Group (DCG) umbrella, a major player in the crypto industry.
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Ponder Crypto's Take: The pressure is mounting on the SEC, and with every passing day, we are getting closer and closer to approval. The main point I want to make is, that when a Spot Bitcoin ETF is approved, the institutional race is on, and at some point in the near future, it will be financially harder for the average person to accumulate Bitcoin and potentially other leading cryptos like Ethereum. Now is the time to front-run the institutions before it is too late (not financial advice). The clock is ticking...
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🎥 This Week on PonderTube
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Why We Chose This Video: "The system's getting too out of control. It's getting too unstable. The debt's getting too large, and so when that happens they have to kind of tie things down. There's more capital controls. They have to be able to basically attack savers and trap them... when pigs are slaughtered, they're herded into pens, and when savers get slaughtered, they herd them into digital accounts with negative interest rates in which there's no escape, and so Bitcoin, to me, represents that escape."
This interview from the Pacific Bitcoin Festival moderated by Natalie Brunell discusses the entanglement of privacy and security in terms of financial freedom and our options for the future. There is a race between the state and the people to take ownership over the monetary system, whether it be CBDCs or Bitcoin and other cryptocurrencies. Now is the time to buckle down, continue working on options for easier self-custody and hope we can hold off CBDCs until we're ready for a better alternative.
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Why We Chose this Video: "If you want to know what it looked like right before the Great Depression, look around, because the reality is, everything that's happening around us right now, economically speaking, both from a theory perspective and from a historical pattern perspective are flashing warning signs of economic danger ahead."
History never repeats, but it often rhymes. There are many similarities today with prior boom and bust cycles, and Joe Brown from Heresy Financial points out how our current situation is eerily similar to the great depression from 1929. The video explains complex concepts using easy-to-understand analogies. So, If you'd like to learn more about how boom and bust cycles work, give this video a watch.
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😎 Crypto for Beginners - The Problem with Fiat Currencies
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This Week's Topic - The Problem with Fiat Currencies
In order to appreciate Bitcoin and the potential financial freedom it can provide us, we need to first realize why Fiat currencies are not a long-term solution for an economy.
While I was watching the video "The Problem with Fiat Currencies", I could not help but notice the glaring similarities we are currently seeing in the United States. A lot of the trends we are seeing now have been experienced by several other countries right before a financial collapse in their economies and monetary systems.
Printing money to "solve problems" leads to the devaluation of the currency, which in turn causes inflation, and then ultimately hyperinflation and total collapse.
I highly suggest you watch the video below. It is very informative, it covers the history of Fiat currencies and how they inevitably lead to a financial and economic downfall.
Underneath the video, we have taken some quotes out to summarize some of the major points if you are running low on time this week!
Enjoy!
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"The value of Fiat currency is based on trust on the entity that issued it, usually a country central bank, and it allows the government more freedom over its supply and value, including the ability to print more money. In even simpler terms, the money is worth something because the government says so, and we accept that as fact because of our trust in them." - 1:32
"A major and ironic downside of fiat money is that it's prone to inflation, because often times, when there's a problem, more money is printed to handle it." - 3:16
"Over printing causes these fiat currencies to depreciate over time, resulting in inflation and a loss of value. Devaluation causes the collapse of a fiat currency as well as the economy that supports it; and to replace the failed currency, a new one is eventually introduced." #Bitcoin - 3:53
"Following WWI, Germany discovered it was unable to pay its war reparations that the Treaty of Versailles required them to do. To save the situation, the German government put its money printers to work and printed enough money to cover the debt and to compensate demoralized German employees. Soon though, there was so much money in circulation, causing hyperinflation, and rendering its currency worthless." - 4:48
"Some analysts believe Bitcoin and other digital currencies may eventually replace all fiat currencies." - 9:50
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What do you know about the Gold Standard? |
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Let's put your knowledge to the test! |
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Ok, here we go. |
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What was the gold standard? |
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Next, |
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When did the United States officially adopt the gold standard? |
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Last but not least |
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What event marked the beginning of the end for the classical gold standard in the early 20th century? |
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Quiz results |
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0 out of 0 correct answers
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SHARE RESULTS
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What do you know about the Gold Standard?
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Let's put your knowledge to the test!
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Ok, here we go.
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What was the gold standard?
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Next,
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When did the United States officially adopt the gold standard?
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Last but not least
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What event marked the beginning of the end for the classical gold standard in the early 20th century?
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This is not financial advice. I am merely stating my own opinion on how I am perceiving the current market structure and conditions. Consult with a legal investment advisor and all the other good legal stuff that needs to be said.
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