GM. This is Ponder Crypto.
|
|
|
|
The crypto newsletter that's attractive during a bull market but secretly loves a bear market.
|
|
|
|
Bear markets are for building and growing beards.
|
|
|
|
📈 What Goes Down Makes Bitcoin Go Up
|
|
|
|
📰 Crypto Chronicles 2023: Week 11
|
|
|
|
🎥 This Week on PonderTube
|
|
|
|
📈 What Goes Down Makes Crypto Go Up
|
|
|
|
We've all heard, what goes up, must come down.
|
|
|
|
The opposite of that is true for Bitcoin.
|
|
|
|
First, why did they collapse?
|
|
|
|
And why did this make Bitcoin rise?
|
|
|
|
The FDIC, U.S. President and Secretary of the Treasury all got in a room and said "no no no no no nO no oh nonoo NO! We can't have people lose faith in the banking system".
|
|
|
|
So they came out and assured everyone that NO depositor will lose their funds.
|
|
|
|
For those unfamiliar, the FDIC insures up to 250k for any depositor at a bank. Should the bank collapse and you have say 5 million in an account, you may be out 4.75 million.
|
|
|
|
Why this drove up Bitcoin's price is because Bitcoin is a scarce asset and when the FED prints money, that means more US dollars will be chasing the same amount of Bitcoin.
|
|
|
|
People are waking up to not only the benefits but the fact that money isn't even safe at banks!
|
|
|
|
Banks take your money and invest it across markets while they pretend like they are keeping your money safe.
|
|
|
|
When you deposit money into a bank, all you are doing is giving the bank an extremely low-interest loan.
|
|
|
|
- How much is the average mortgage rate? 7.3%
- How much is the average interest rate on a credit card? 21.2%
- How much is the average personal loan interest rate? 12.5%
- What's the average rate on a savings account? 0.23%
|
|
|
|
When you want to borrow money, you may get a 7, 12 or 21 percent interest rate.
|
|
|
|
When the BANK wants to borrow money, we give it to them for less than a percent...
|
|
|
|
PSA!!! The system is rigged. Opt out and protect yourself with Bitcoin.
|
|
|
|
36% of Americans currently possess more debt on their credit cards than they have in savings.
|
|
|
|
Rates are sitting at 7.1% for new mortgage loans and 24.9% for credit card debt.
|
|
|
|
The average payment on a new mortgage has risen by 61% in just 18 months.
|
|
|
|
Debt is being used to pay for basic necessities which you guessed it, isn't good.
|
|
|
|
The bottom line, we are fighting inflation with debt.
|
|
|
|
As the FED continues to pump up rates, the interest payments will continue to rise and suffocate families.
|
|
|
|
It's shaping up like Credit Card Debt could be the next widespread financial crisis.
|
|
|
|
If you are relying on credit cards to get you through these "tight times", STOP. Buckle down and do what you can to clear out those balances.
|
|
|
|
Easier said than done; believe me, I know. But you MUST protect yourself.
|
|
|
|
Things could get worse before they get better so the best ways to protect yourself are:
|
|
|
|
- Eliminate High interest/variable debt
- Free up monthly cash flow
- Reduce unnecessary expenses (this will be different for everyone)
- Create multiple streams of income
|
|
|
|
📰 Crypto Chronicles 2023: Week 11
|
|
|
|
Top stories you should know this week.
|
|
|
|
Brief Summary: The crypto ecosystem has been disrupting the status quo for over a decade, with innovations like cryptocurrencies, NFTs, and blockchain-based games challenging traditional counterparts. However, blockchain games still lag behind in mainstream adoption. To bridge the gap, industry veterans like Peter Bergstrom are working to improve Web3 gaming experiences. Bergstrom believes that the GameFi ecosystem needs to focus on compelling gameplay and seamless integration of blockchain technology to attract gamers. He suggests that prioritizing the gaming experience, user-friendly onboarding, and expanding distribution channels are essential for mass adoption. Ultimately, collaboration and innovation will drive the future of GameFi as it continues to evolve and attract both gamers and investors alike.
|
|
|
|
Our Take: If you're not a gamer, you won't care. But if you are... imagine earning some epic sword in a game. You walk around the game showing it off, it's your baby. Then after some time, you pick up a new game. Only instead of leaving your baby behind, you transfer your sword from the character in your old game to the character in your new game. Items and equipment you earn can be used ACROSS games. how cool would that be?!
I'm a nerd.
|
|
|
|
Brief Summary: Despite recent setbacks in the crypto banking sector, industry participants believe the future may not be as dire as it appears. The loss of banking partners for crypto companies has made it more difficult for them to meet regulatory expectations, but this could lead to renewed interest in decentralized financial systems that don't rely on traditional banks. Meanwhile, firms like BCB Group, Cross River Bank, and Prime Trust continue to provide banking services for crypto companies. As more institutions begin to offer financial products and services to the industry, innovation, consumer protection, and risk management could improve.
|
|
|
|
Our Take: Many banks in the US and across the globe are still crypto-friendly or neutral. As soon as banks figure out how to secure their position in a crypto-friendly world, you will see them go from adversarial to huge proponents. Right now, crypto is a threat. For the banks that embrace the tech and figure out how to make money off it, they will gladly offer custodial services.
|
|
|
|
Brief Summary: Coinbase CEO Brian Armstrong reveals that the company aims to create a more sustainable and predictable revenue model by shifting nearly half of its revenue to subscriptions and services. This move, which includes offerings like USD Coin, custody fees, staking, and Coinbase Card, will help the top US crypto exchange navigate the volatility of crypto cycles and provide stability as a public company. The recent stock rally saw COIN's value increase significantly, highlighting the potential success of this strategic shift.
|
|
|
|
Our Take: I love the Coinbase card because it allows anyone to SPEND their crypto anywhere that accepts VISA. For the conversations that start with, "yeah, but what can you even buy with crypto?" I whip out that puppy and say, "anywhere that accepts Visa."
Mic drop.
|
|
|
|
Brief Summary: The launch of ERC-4804 has introduced Web3 URLs to Ethereum, enabling users to access decentralized applications (DApps) and nonfungible tokens (NFTs) without the risk of centralized censorship. By typing "web3://" instead of "http://" in their browsers, users can directly query the Ethereum Virtual Machine (EVM) to access DApps or on-chain NFTs. Although storage costs on Ethereum are currently high, layer-2 storage solutions may help mitigate expenses. The new standard is particularly useful for DApps or websites at risk of censorship, offering a decentralized alternative for accessing internet content.
|
|
|
|
Our Take: Boy, Ethereum really is trying to pick a fight with the regulators. I'm all for privacy features. I love that Ethereum isn't shying away from it, either. The market will be seeking these features out more and more as people realize how they are being controlled and taken advantage of by the traditional banking system.
|
|
|
|
Brief Summary: GPT-4, the latest version of ChatGPT by OpenAI, demonstrates remarkable capabilities by scoring in the 90th percentile on high school tests and law school exams. With its advanced processing abilities, GPT-4 can convert image, audio, and video inputs into text and handle complex instructions more creatively and reliably. Its performance surpasses that of its predecessor, GPT-3.5, which scored in the bottom 10% on similar exams. GPT-4's impressive results have sparked discussions about its potential impact on the global education system and its ability to identify security vulnerabilities in smart contracts.
|
|
|
|
Our Take: ChatGPT is absolutely amazing. It will change EVERYONE's life within 12 months. Smart contract vulnerability analysis is one example of the benefits that smart AI will bring us. Any technology that will help prevent another multi-billion dollar dao hack and create uncerntainty across the market gets the stamp of approval in my book.
|
|
|
|
🎥 This Week on PonderTube
|
|
|
|
USA's Seven Stages Of Empire - Hidden Secrets Of Money Episode 2
|
|
|
|
Share with friends, get cool stuff!
|
Have friends who'd love our newsletter too? Give them your unique referral link (below) and get an awesome reward when they subscribe.
|
|
|
See how many referrals you have
|
|
|
|
|
|
|
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.
|
|
|
|
Ponder Crypto Newsletter |
|
👉 Subscribe for FREE Today 👈 |
|
|
|
|
|
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.
|
|
|
|
|