GM. This is Ponder Crypto.
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The newsletter that looked at their portfolio and calendar at the same time...
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📈 Bitcoin Stands Above All
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📰 Crypto Chronicles 2023: Week 41
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🎥 This Week on PonderTube
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😎 Crypto for Beginners - A Wife's Journey to Bitcoin
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🤔 Quiz Time! - Capitalism
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📈 Bitcoin Stands Above All
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You feel it, and we can feel it.
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But hey, just because prices have fallen, all is not bad...
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New seasons of LEGO Masters and The Great British Bake Off have started!
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When I monitor these ETF approval deadlines, all I can picture is Will Arnett yelling down at the SEC.
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If you were to guess, how do you think Bitcoin is comparing to other investment options in terms of returns right now?
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Don't scroll down yet! Take a guess...
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I'll be honest, I write about Bitcoin every week and this chart shocked me.
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Although we're not seeing those gargantuan returns that people are used to with Bitcoin and crypto in general, we have to keep a few things in mind:
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- The threat of a looming recession is real.
- People are worried about losing their jobs, paying rent, and putting food on their table.
- We've seen multiple conflicts affect global economies.
- Several major crypto companies have collapsed, leading to lost funds and contributing to a pessimistic market outlook
- It was just discovered that the former CEO of FTX, "He who must not be named," strategically kept the price of Bitcoin down by selling customer funds.
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The fact that we have seen the growth we have when you sit back and think about all that's happened is pretty astounding.
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Not to mention, from a pattern perspective, Bitcoin is doing exactly what it has done during previous leadups to the next halving event.
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It gives us hope that the future is bright and I hope you share the same sentiment.
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One chart I closely monitor is named 'The HODL Waves'.
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It categorizes each Bitcoin based on the most recent time it was transferred.
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The highlighted sections indicate the percentage of Bitcoin that have been moved within the last two years.
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You can see the trend is down, meaning the percentage of Bitcoin that hasn't moved in over two years is trending up.
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Through all that has happened over the last two years, more investors are committing to holding or 'HODLing' their Bitcoin for the long haul.
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As more Bitcoins are removed from the market, the price MUST rise to persuade holders to fulfill market demand.
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The future is bright for Bitcoin.
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Now more than ever, we must not lose track of the goal. Stack sats and chill.
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Now, time to go see who won the golden brick!
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Not financial advice, just my .02 satoshis.
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📰 Crypto Chronicles 2023: Week 41
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Interesting stories this week.
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Brief Summary: On October 4, 2023, Fidelity published a research report entitled “Bitcoin First Revisited. Why investors need to consider Bitcoin separately from other digital assets”. This article goes into depth on the 10 key takeaways from this report, which are listed below.
- Fidelity considers Bitcoin to be the Best Money
- Fidelity highlights the “Virtuous Cycle of Bitcoin”
- Fidelity explains why Bitcoin is already the Next Bitcoin
- Fidelity admits Bitcoin is anti-fragile
- Fidelity puts forward data to prove that Bitcoin is the world's most secure decentralized network
- Fidelity is convinced that Bitcoin will retain its kingly position in the future due to the Blockchain Trilemma
- In terms of the market cap for decentralized systems, Bitcoin is Fidelity's only choice
- Fidelity also compares Bitcoin to the Internet
- Fidelity goes against those who find Bitcoin useless. For Fidelity, “Bitcoin is Aiming to Satisfy a Clear Market Need”
- Fidelity concludes that Bitcoin is unique and should be treated separately from all the other digital assets that have emerged since
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Ponder Crypto's Take: Fidelity, the 4.5 trillion elephant in the room, didn't just tweet a "pro-Bitcoin" comment. They did their homework and came out the other end on the dean's list. The full report is about 13 pages long and a pretty easy read. You can tell the author was definitely sleuthing through some old Reddit posts while writing their analysis, so you know it's legit.
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Brief Summary: Star witness Caroline Ellison offered insider testimony that Sam Bankman-Fried directed his inner circle to illegally siphon billions in customer funds from crypto exchange FTX to prop up hedge fund Alameda Research, then lied to investors and the public about the nature of the relationship between the two companies. Ellison admitted to helping distribute false balance sheets and said Bankman-Fried oversaw both firms, using FTX customer money to cover Alameda's losses, make loans, and buy luxury real estate. She described Bankman-Fried's calculated effort to cultivate an eccentric image and his belief that his disheveled hair boosted his career. The collapse of FTX and Alameda came after a leaked balance sheet revealed their improper financial ties, prompting a run on deposits.
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Ponder Crypto's Take: This case is wild. I can't wait to watch the seven-part Netflix series when it's inevitably released. FTX also aimed to keep Bitcoin's price below $20,000, so they started liquidating their customers' funds. This explained why FTX only had possession of less than 5% of the Bitcoin that FTX users supposedly owned according to their account balances. By the end of this, I fully expect SBF to spend the rest of his life in jail. It's a shame the person this man turned out to be.
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Brief Summary: Silk Road founder Ross Ulbricht has now spent 10 years in prison after being given a controversial double life sentence plus 40 years in 2015 for operating the dark web marketplace. Silk Road facilitated over $1.2 billion in illegal sales using Bitcoin between 2011-2013. Ulbricht's harsh punishment has sparked debate, as supporters argue it doesn't fit his crime compared to others involved who received just several years or no jail time. However, critics highlight Silk Road's role in enabling illegal activities like drug trafficking. Ulbricht pioneered online anonymous illicit trading with Bitcoin, marking the rise of modern darknet markets, but his severe sentencing ignites controversy over whether justice was properly served.
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Ponder Crypto's Take: I have a soft spot for Ross Ulbricht. It makes me sad whenever I'm reminded that he is still in prison. He was a true pioneer who stood up for his beliefs about freedom. He had his own moral code and stuck to it, even though many people disagreed with him. In my opinion, the FBI agents who investigated his case were much more corrupt than Ulbricht. If you haven't seen the documentary Deep Web, you should add it to your watch list. Recently, Robert F. Kennedy Jr. said in an interview that he would consider pardoning Ulbricht if he were elected president. I already supported Kennedy, but this made me support him even more.
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🎥 This Week on PonderTube
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Why We Chose This Video: "Freedom requires living with the consequences of the actions one takes. Freedom requires risk taking, setbacks, losses and failures before achieving success. Freedom's opponents seek to avoid this work. They demand results without doing the needed work."
This short film is incredible. It is one of the most hopeful, encouraging, beautiful pieces of art that I have ever seen. We understand that no one can predict what happens next, but a future world led by sound, honest money can have a substantial, positive impact on everything else in our lives. Bitcoin is freedom money and we need it to dig ourselves out of this hole we have been placed in. Thank you, Satoshi, for providing us with this technological monetary resource that has the potential to change our world for the better.
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Why We Chose this Video: "What we need in the tech community, what we need in entrepreneurship, what we need with small businesses and what we need as a society and an economy, is we need more people who are ambitious. We need more people who are courageous enough to go do what everyone else thinks is nearly impossible."
The accidental theme of this week's videos relate to mindset shifts. In order for things to change for the better and problems to get solved, it takes innovation, tenacity and bravery. There is talent, creative ideas and endless possibilities everywhere, we just need real leaders to step up and challenge the status quo.
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😎 Crypto for Beginners - A Wife's Journey to Bitcoin
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This Week's Topic - A Wife's Journey to Bitcoin
I didn’t initially understand why my husband Brandon was so interested in Bitcoin. He has been passionately talking about it for a very long time and although I was a supportive wife and listened, it mostly went in one ear and out the other.
He was introduced to, or stumbled upon Bitcoin in 2011 when it was less than $30. So crazy!!! Then, in 2017, at around 3:00 in the morning, as he was 21 million feet down a rabbit hole, he emailed our family, close friends, and myself and told us that we MUST look into AND invest in this life-changing money. Little did I know, it would still take me almost 5 years to truly listen.
As our life phases changed from being students in college, graduating and renting an apartment, starting our family, to eventually buying our first home, one thing stayed consistent: my husband’s interest and devotion to Bitcoin. Finally, one fateful day, I decided that it was time for me to take the plunge and look into this technology myself. In order for me to appreciate Bitcoin, I had to come to the conclusion on my own (I’m a little stubborn) that our current monetary system is horrendous. Brandon was so excited that I finally started to care! Not even two minutes later, he proceeded to give me some homework assignments to complete with strict deadlines so we could discuss what I learned afterwards.
As I started to read, listen and discuss financial topics with my husband, the more I saw the need for a monetary solution like Bitcoin. The research I was doing and the knowledge I was acquiring started to make me angry that it has gotten this far and fearful for what is in store for the future. Now that I have crossed over to the orange side, I consider myself a true believer in Bitcoin and the financial freedom it can provide the world.
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I want to thank all of the people that have helped me on my journey to Bitcoin because I do feel a change in myself, my preparedness for my family, my financial goals for our future, and the responsibility to spread the word about Bitcoin. Obviously, my husband Brandon is my number one guy and consistently teaches me new things, but I have also felt inspired by and learned so much from the people below.
Saifedean Ammous
Natalie Brunell
Jack Mallers
Anthony Pompliano
Erik Voorhees
There are others in the space that I read, watch and listen to, but the fab 5 listed above are my go-to resources on my Bitcoin journey. I encourage EVERYONE to continue learning, to ask questions, and to put in the work to increase your understanding of Bitcoin. If you are interested in any of the homework assignments my husband gave me or the content that influenced me to bleed orange instead of red, email me at megan@pondercrypto.com.
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What do you know about Capitalism? |
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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 term describes a market structure in capitalism where a single company dominates and controls the entire market? |
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Next, |
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What is the term in capitalism for when businesses cease operations because they are not generating sufficient profits? |
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Last but not least |
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In capitalism, the price and distribution of goods and services are primarily determined by what? |
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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 Capitalism?
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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 term describes a market structure in capitalism where a single company dominates and controls the entire market?
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Next,
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What is the term in capitalism for when businesses cease operations because they are not generating sufficient profits?
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Last but not least
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In capitalism, the price and distribution of goods and services are primarily determined by what?
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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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Disclosure: All content shared in the Ponder Crypto website, newsletters, video channels or any other medium are for entertainment purposes only and should not be received as legal or financial advice. We are not legal experts or financial planners so please, exercise proper due diligence and do your own research.
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