#bitcoin exchange near me

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The number of commercial-scale Bitcoin mining operations in the U.S. has increased sharply over the last few years; there are now at least 137. Similar medical complaints have been registered near facilities in Arkansas and North Dakota. And the Bitcoin mining industry is urgently trying to push bills through state legislatures, including in Indiana and Missouri, which would exempt Bitcoin mines from local zoning or noise ordinances. In May, Oklahoma governor Kevin Stitt signed a “Bitcoin Rights” bill to protect miners and prevent any future attempts to ban the industry. Much of the American Bitcoin mining industry can now be found in Texas, home to giant power plants, lax regulation, and crypto-friendly politicians. In October 2021, Governor Greg Abbott hosted the lobbying group Texas Blockchain Council at the governor’s mansion. The group insisted that their industry would help the state’s overtaxed energy grid; that during energy crises, miners would be one of the few energy customers able to shut off upon request, provided that they were paid in exchange. After meeting with the lobbyists, Abbott tweeted that Texas would soon be the “#1 [state] for blockchain & cryptocurrency.” Technically there is federal mandate to regulate noise, which stems from the 1972 Noise Control Act—but it was essentially de-funded during the Reagan administration. This leaves noise regulation up to states, cities, and counties. New York City, for instance, has a noise code which officially caps restaurant music and air conditioning at 42 decibels (as measured within a nearby residence). Texas’s 85 decibels, in contrast, is by far the loudest state limit in the nation, says Les Blomberg, the executive director of the nonprofit Noise Pollution Clearinghouse. “It is a level that protects noise polluters, not the noise polluted,” he says. The residents of Granbury feel they’ve been lied to. In 2023, the site’s previous operators, US Bitcoin Corp, constructed a wall around the mine almost 2,000 feet long and claimed that they had “solved the concern.” But Shirley says that the complaints from the community about the sound actually increased when the wall was nearing completion last fall. Since Marathon bought the facility outright in December, its hash rate, or computational power expended, has doubled. Any statewide legislation is sure to hit significant headwinds, because the very idea of regulation runs contrary to many Texans’ political beliefs. “As constitutional conservatives, they have taken our core values and used that against us,” says Demetra Conrad, a city council member in the nearby town of Glen Rose. In the week before this article’s publication, two more Granbury residents suffered from acute health crises. The first was Tom Weeks. “This whole thing is an eye opener for me into profit over people,” Weeks says in a phone call from the ICU. The second person affected was the five-year-old Indigo Rosenkranz. Her mother, Sarah, was terrified and now feels she has no choice but to get a second mortgage to move away from the mine. “A second one would really be a lot,” she says. “God will provide, though. He always sees us through.”

shocking! texans suffer from deregulation and ineffective walls

[chaletnz]

Antigua to Cerro Verde, El Salvador

After enjoying the buffet breakfast of hash browns, fruit, bread and cake I walked down to get a flat white from Fernanda's. There was a precious little grey cat asleep on the counter and the coffee was top-notch! We all sat on the bus waiting for our driver Edwin to secure all the bags on the roof under a tarpaulin and listened to Emily and Georgi's crazy story about how they'd ended up going from a rooftop bar in Antigua to a house party in a dodgy neighbourhood where the police were called. The tale involved drugs and a BMW being driven at high speeds down the cobblestones at 6am to get them back to the hotel early this morning. I had actually heard them walking in shouting "hola chicos y chicas!" repeatedly. Walter intercepted Emily on her way to her room and warned her about the beers she was carrying in each hand and Georgi ended up having a complaint sent to Intrepid Travel's head office about her behaviour trying to sneak her British boytoy back in to her room. Georgi slept on the floor of the bus for most of the three hour ride to the El Salvador border. While we drove Walter told us about the Mayan history of Guatemala, which only remains here because Mayans and indigenous peoples in other countries were all murdered. Unbelievably Guatemalans of Mayan heritage were considered second class citizens until 1997 when they were finally given even rights and access to medical care. While literacy levels are improving throughout the country, the average ratio of public school students to teachers is 450:1 for the first 6 years of education. Only the best and brightest 20% make it to secondary school and even less into universities with scholarships. We drove through a lot of rural farmland as we neared the border and the fitting fact that 38% of Guatemalans rely on growing their own food source was shared. We exchanged our Guatemalan quetzales to USD while standing in the line at the border waiting for our turn to cross. It was hot and when I stood at the window to hand over my passport I could feel the air conditioning from inside the immigration officer's office on my hands. Once successfully in El Salvador Walter gave us a bit of backstory on the new El Salvadoran president who is cracking down on gangs and violence. He also changed the official currency to USD and Bitcoin to help the economy prosper. El Salvador looked more run down to me than Guatemala, without such beautiful scenery and more trash. The gas station toilet even lacked a door. Due to the American influence they seemed to make more effort with using English though - I saw a sign reading "car wahs". We were dropped off at a mall to buy lunch and groceries before we went to our campsite for the next two nights. I didn't wait around for the others and just headed to the food court to have a Pollo Campero sandwich meal. They took my order and gave me a receipt but didn't actually serve my meal. I figured out by watching the other people who skipped over me that I was supposed to hand my receipt to the person standing beside the cashier who would then build the order. I waited stupidly for ten minutes before giving him my receipt and them finally making it, all the while watching an obese family drinking their weight in coke and refilling while they waited for their orders. I took a table and ended up sitting with Boukje and Wout - the Belgian couple, British girl Jess, and Dutch girl Tyrza to eat lunch. It was a lunchtime-rush food court complete with screaming kids, lazy parents, and inconsiderate people leaving trays of rubbish all over the tables. We hit the supermarket to buy a few drinks and snacks and then our bus took us all to Tres Volcanes, a campsite in the Cerro Verde National Park near Santa Ana volcano. We were briefed on tomorrow's optional activity - a $45 hike up to the volcano crater, followed by lunch at the campsite, and then a trip out to the lake for the afternoon. The price tag was steep but there was nothing else to do around here so I was in. Our dinner was pasta, then a couple games of Uno and it was time for bed.

[buymagicmushiesonline]

The Ultimate Guide to Buying Magic Mushrooms Online Safely

Magic mushroom is a generic term used for any fungi containing psilocybin. It is a chemical compound that is digested into psilocin. These magic mushrooms have been used for many years by different human societies. Before using them, ensure you understand how they work and the benefits you should expect. You will find all types of magic mushrooms online that will suit your needs. If you’re looking to buy magic mushrooms online, here are some tips to help you choose the right online store:

Conduct Thorough Research

The process of buying magic mushrooms can be challenging for those individuals who are doing this activity for the first time. To make this process easier, ensure that you do your homework. When you conduct thorough research, you will identify different magic mushrooms that can suit you, depending on your needs. Ensure that you research and find a reliable magic mushroom online store that will help you to buy magic mushrooms Australia.

Authorization and Licensing

Ensure you know about the authorization the dispensary has. Some online dispensaries operate their business without a license, making them sell products that are not tested. The best online dispensary should have a certificate of authorization permitting it to sell shrooms. The license ensures that they follow state regulations on the sale of shrooms. Having a license means that the government has committed to a specific dispensary to sell quality products to people.

Pick a Reputable Online Store

Various online stores are selling different types of magic mushrooms. Ensure that you find a reputable and reliable online store to buy magic mushrooms USA. The internet is the right source to help you with all the details you want. With a reputable online store, you will find your favorite mushrooms.

Check the dispensary website to ensure that it has a proven reputation. Online reviews and feedback can also be found on the website. This will allow you to find out what other users are saying about the quality of the product.

Determine the Mushroom Strain that You Need

When you buy your favorite type of magic mushroom, ensure you determine the mushroom strain you need. You need to note that there are multiple mushroom strains that you will find in the market. To ensure that you choose the right strain that will suit your needs, make sure that you research and determine the most commonly used strain and its benefits. By doing this, you will know the perfect strain that will suit you.

Customer Support

Customer support differentiates a good magic mushroom online store from the rest. Customer support is essential because you will always need help choosing the right product, shipping, and delivery methods, knowing the benefits and side effects, and determining the power. If you want to buy magic mushies online with bitcoins, you can also contact customer support.

You might also need customer support if you have to return or exchange a product. You should reach their customer service through multiple channels such as phone, email, and live chat. An online store with a 24/7 live chat is the best since you can reach them anytime.

Conclusion

Google and you will find mushrooms online by several websites; many of these are suspiciously cheap, with no user feedback. While we suggest you buy magic mushrooms near me, only do so from a reputable seller that stands by their products.

[bitcoin-unbank]

Convenient Transactions: Utilizing Bitcoin ATMs Near Me

Gone are the days of complicated online transactions. With Bitcoin ATMs conveniently located near you, accessing cryptocurrency has never been easier. By searching for "Bitcoin ATM Near Me," individuals can find Unbank's secure and reliable ATMs, facilitating quick and hassle-free transactions. Say goodbye to long waits and hello to seamless crypto exchanges.

[kutongdejimie]

Digifinex Labs: Bitcoin Dips Below $42,000 as Short-Term Holders Capitalize on Profitable Conditions

The overall exchange balances for Bitcoin have increased, indicating a surge in coins moving to exchanges. This influx of supply is likely to exert downward pressure on prices in the short term, according to Dragosch.

The ETC Group highlights that a significant portion of Bitcoin and Ethereum addresses are currently profitable. Specifically, 88.3% of BTC addresses and 77.6% of ETH addresses are in a profitable position, nearing the highest figures for the year. This information suggests that investors holding Bitcoin and Ethereum are taking advantage of the profitable market conditions, contributing to the selling pressure and the decline in prices.

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[rankvisionusa]

The Convenience of Coinhub Bitcoin ATMs: A Quick and Easy Way to Buy Cryptocurrency

Introduction

In today's fast-paced digital world, cryptocurrency has become an increasingly popular investment and transaction option. Bitcoin, the pioneer in the world of digital currencies, is at the forefront of this revolution. With its growing acceptance, people are constantly seeking easy and convenient ways to purchase and manage Bitcoin. One such convenience comes in the form of Bitcoin atm, with Coinhub's Bitcoin ATMs standing out as a user-friendly and hassle-free option.

In this article, we will explore the world of Bitcoin ATMs, with a special focus on Coinhub's Bitcoin ATMs. We will delve into the ease of use, the absence of the need for a prior account, and the simplicity of purchasing cryptocurrency in under 2 minutes.

The Rise of Bitcoin ATMs

Over the past decade, Bitcoin ATMs have grown in popularity, providing a tangible way for individuals to buy and sell Bitcoin quickly and securely. bitcoin machine near me These machines, also known as Bitcoin Teller Machines (BTMs), allow users to purchase or sell Bitcoin for cash or other cryptocurrencies. They bridge the gap between the digital and physical worlds, making cryptocurrency more accessible to the general public.

Coinhub Bitcoin ATMs are part of this growing trend, offering a seamless experience for both beginners and experienced cryptocurrency enthusiasts. Let's explore the advantages of using these ATMs and why they stand out.

Coinhub's User-Friendly Approach

One of the standout features of Bitcoin ATM Coinhub is their user-friendliness. Whether you are new to the world of cryptocurrency or a seasoned trader, these ATMs are designed to cater to your needs. The simple and intuitive user interface ensures that you can complete a Bitcoin transaction with ease.

Here are some key features that make Coinhub's Bitcoin ATMs user-friendly:

Intuitive Interface: Coinhub Bitcoin ATM are designed with user experience in mind. The touchscreen interface provides clear instructions and options, making it easy for anyone to navigate through the process.

Language Support: These ATMs support multiple languages, ensuring that users from diverse backgrounds can access their services without any language barriers.

Customer Support: In case you encounter any issues or have questions, bitcoin machine Coinhub offers customer support to assist you through the process, making your experience as smooth as possible.

The No-Account Requirement

One of the significant advantages of Coinhub's Bitcoin ATMs is the absence of the need for a prior account. Unlike many cryptocurrency exchanges that require users to go through a lengthy registration and verification process, Coinhub's ATMs allow you to make quick purchases without the need for an account. This feature is especially beneficial for those who value privacy and anonymity when dealing with cryptocurrency.

The simplicity of the process is as follows:

Locate a Bitcoin ATM: Use the "Bitcoin ATM near me" feature to find the nearest Coinhub Bitcoin ATM.

Choose Your Amount: Insert the cash amount you want to convert into Bitcoin.

Scan Your Wallet QR Code: If you already have a Bitcoin wallet, you can simply scan the QR code to receive your purchased Bitcoin. If you don't have one, the ATM can help you generate a paper wallet.

Confirm Your Purchase: Review your transaction details, and once you're satisfied, confirm your purchase.

Receive Your Bitcoin: The Bitcoin you purchased will be sent directly to your wallet.

Quick and Effortless Transactions

One of the most remarkable aspects of Coinhub's Bitcoin ATMs is the speed at which you can complete a transaction. In under 2 minutes, you can convert your cash into Bitcoin and start using it for various purposes, be it investment, online purchases, or sending funds to friends and family. This efficiency is a game-changer, especially in the fast-moving world of cryptocurrency.

Coinhub's Bitcoin ATMs are strategically located in various accessible places, such as shopping malls, convenience stores, and transportation hubs. This makes it convenient for users to access these machines without much hassle. The quick and effortless transactions cater to both newcomers who may feel intimidated by the cryptocurrency world and experienced users who appreciate efficiency.

Conclusion

Coinhub's Bitcoin ATMs offer a simple and straightforward solution for buying Bitcoin. The absence of a prior account requirement, user-friendly interface, and the speed at which transactions are completed make these ATMs an excellent choice for anyone looking to enter the world of cryptocurrency.

The growing network of Coinhub Bitcoin ATMs across various locations provides accessibility and convenience that is hard to match. Whether you're a seasoned cryptocurrency investor or just starting your journey, Coinhub's Bitcoin ATMs are a great way to buy Bitcoin and start experiencing the benefits of digital currency. With these ATMs, purchasing cryptocurrency is no longer a complex process but a quick and hassle-free experience. So, the next time you're in need of Bitcoin, look for a Coinhub Bitcoin ATM nearby and witness the ease of converting cash into cryptocurrency in under 2 minutes.

[ailtrahq]

OpenAI CEO Sam Altman has expressed concerns about the U.S. government’s regulatory approach to cryptocurrencies, particularly its impact on major assets like Bitcoin. During a recent episode of the Joe Rogan podcast, Altman criticized the U.S. government’s stance on crypto and its attempts to exert control. He emphasized that the crypto community needs to remain committed to defending its interests. US Anti-crypto Approach Nevertheless, Altman maintained a positive outlook on Bitcoin, describing it as a logical and vital global cryptocurrency operating outside any government’s control. Joe Rogan echoed this sentiment, suggesting that Bitcoin could evolve into a universally accepted currency. The U.S. government has recently intensified its scrutiny of the crypto industry, with regulators like the SEC and CFTC filing lawsuits against top crypto firms like Binance and Coinbase. The delays in approving spot crypto exchange-traded funds (ETFs) have further strained the industry’s relationship with regulators. These actions, Altman noted, could pose dangers for the industry. The crypto entrepreneur said: “I’m disappointed that the U.S. government has done recently, but the war on crypto, which I think is a, like, we can’t give this up, we’re going to control [crypto] makes me quite sad about the country.” Bitcoin Price Action. Source: BeInCrypto Despite the government’s actions, BTC continues to trade near $28,000 as of press time, according to BeInCrypto data. CBDCs Altman also expressed reservations about Central Bank Digital Currencies (CBDCs), highlighting their potential for enabling state surveillance. He firmly opposed the adoption of CBDCs, arguing that they could be wielded to enhance scrutiny of financial systems. There’s a clear partisan divide among lawmakers in the United States regarding cryptocurrencies and CBDCs. Senators Ted Cruz and Representative Tom Emmer have emerged as vocal opponents of creating a digital dollar. On the other side of the spectrum, Senator Elizabeth Warren has consistently championed CBDCs, asserting that they could address issues within the banking sector. The Massachusetts legislator is also a prominent advocate in Congress for tighter regulations in the emerging crypto industry. Meanwhile, the Federal Reserve has yet to reach a decision on the creation of a digital currency. “The Federal Reserve has made no decision on issuing a central bank digital currency (CBDC) and would only proceed with the issuance of a CBDC with an authorizing law,” its website states.

[gatekeeper-watchman]

Should Christians Prepare for a Global Monetary Crash?

Is Bitcoin Real Money? What about Gold and Silver?

A Looming Global Monetary Crash Coming Soon?

Wall Street & Broadway intersection near the New York Stock Exchange

All the top financial experts are predicting a soon coming global stock market crash that will include bank closures, as they see a total collapse in the entire financial system that could result in a change to the entire monetary system of America. They see this crash happening not only in the USA but one that will affect the entire world. The root cause of this crash is attributed to the printing of trillions of dollars of paper money that will result in the deflation of the dollar which will lead to a depression worldwide since most nations are all doing the same thing. (I will address more about this below.)  The majority of well-known financial experts all agree about the crash coming, they just do not know when it will happen. Most think it is imminent.  Where they disagree, is in their approach as to what we should do about it.

Many financial speculators are giving financial advice and telling people to protect their life savings and move their cash to Bitcoin or silver and gold or real estate or hard assets. Is all their advice scriptural? Are some of them good?  There is talk of governments moving to a cashless society and using crypto and/or digital currencies. What is real money?  What are cryptocurrencies? Is Bitcoin a safe investment?  How will these things affect us? Will there be inflation and a depression?  Is there something we can do to protect our life savings? As Christians, whom can we trust? Should Christians even be involved in this discussion? When will this happen? Is the new administration making plans to change our entire financial system? I will attempt to answer some of these questions in this article by sharing my personal opinions after some research and study and scriptural advice from the Word of God. The most important thing will be our faith in God to sustain and protect us.

What are Christian Leaders Saying about a Stock Market Crash?

News about a crash is not just coming from secular people and financial advisors and experts, but many Christian leaders are voicing their concerns as well. Some Prophets of God are prophesying this crash, as well. One major prophetic voice, the late David Wilkerson, has been predicting a great depression for years.  He wrote a book entitled, “God’s Plan to Protect His People In the Coming Depression.”  The last time I checked, this book was out of print and there were only a few copies for sale on the Internet and they were going for over $100.00 each. Here are two quotes from David from this book:

“One-third of the world is now suffering economic depression! No one will ever convince me that America can avoid a full-blown depression. I believe it has already begun.  Soon the financial bubble will burst and we are going to be shocked by the blindness and ignorance of our leaders and financial experts. They have no idea of the severity and suddenness of the coming storm. Soon the cry will be: Was there nobody in charge? How did this happen?”

“Those, who right now, are setting their hearts to seek God with all their being and are saturating their hearts and minds with the Word of God are better prepared for the coming storm than anyone. They are safer and more protected than those in the world who have made all kinds of physical preparation. The only trustworthy preparations are those for the heart, not the body. This is where all preparations must begin. However, a servant of God loses nothing by storing a supply of food. If chaotic conditions are indeed ahead, our food supply will allow us to be prepared just as Joseph in the Bible was. You may ask, what if no such crisis comes to pass? The answer is simple: We can simply use the food later or, better yet, give it away to needy families, to God’s glory.”

Both camps (secular and spiritual) are predicting a crash with depression, but they just give their own opinions and advice as to what they believe you should do about it.  Some are investing in gold and silver and others in real estate. Some are listening to the speculators and are moving their funds to Bitcoin.  Some are investing in food reserves, hard assets, etc.  I am not a financial advisor but feel led to share with you a lot of the information that I am hearing about on the news and the Internet. I want you to be aware of these dire predictions, so you can pray and ask God if you need to do anything. As a Christian, the first thing I do is to pray about things and take my questions to the Lord and look to the Word of God to answer them.

Bitcoin and the Stock Market

Since there is so much in the news about Bitcoin right now and I did not feel good about it, I started praying and asking God about the subject, along with doing some research.  I wanted an answer from God, as I have friends invested in this and some have asked me what I thought about it.  (Just for the record, I do not own any Bitcoin stock or any other stock for that matter.) I am not against people investing in the stock market if they are led by the Lord to do so, but since the stock market and Wall Street promote so much lust and greed it is wise to seek God when handling things in the world.

Here is an excerpt from a previous article I penned several years ago on this subject:

“What the Bible Says about the Stock Market”

The Bible does not say anything specifically about the Stock Market. However, it is full of principles that directly affect any kind of investing. The basic principle of the stock market is not wrong if it is followed properly.  What is that principle? When a man or a group of men have a good and righteous business or company that benefits humanity; yet they lack funding to make that business product, it creates a need for another’s help. If another man or a group of men (investors) have surplus funds and could use the monies as additional or future support, it also creates a need for another’s help. When one group physically does the work and the other supports that work with his funds, it becomes mutually beneficial for both parties. However, today, many people invest without any research into the company they are investing in. They do not know if the company policies are based on good Biblical principles. They know nothing about how their employees are treated. They know nothing of the history of the company. They do not know the character of the ones running the business; whether they are honest, reliable or trustworthy, etc. They know nothing of their alliances (do they support or promote unholy causes such as pornography, abortion, etc.). Sad to say, but most of the stock market is run by lust and greed, instead of wise investment and helping one another.

Bitcoin versus Cash Money

Now, this brings me to the subject of whether should one take his cash out of the bank and invest in Bitcoin. People should remember their savings accounts in banks are insured by the FDIC, while there is no insurance in Bitcoin. It is a speculative investment with risk. However, before this answer can be fully considered, we need to get a definition of what is Bitcoin and what is money.  Let’s begin with defining what Bitcoin is since people investing in Bitcoin believe they are exchanging their cash for another form of money called Bitcoin. Then, we will look at the definition of money.

Bitcoin and Crypto Currencies

Below is the Definition of Bitcoin according to Wikipedia

Decentralized cryptocurrency

Bitcoin (₿) is a cryptocurrency invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto and Martti Malmi who are said to be the creators of Bitcoin. The currency began to use in 2009 when its implementation was released as open-source software. Bitcoin is a decentralized digital currency, without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a publicly distributed ledger called a blockchain. Wikipedia

Because some people have asked me what I thought about Bitcoin.  Here are my deductions (I first must state that I am not a monetary counselor, but have read and studied what God says about money and finances in the scripture.) People have already made and lost money with their Bitcoin investments, just as those who have invested in speculative stocks.

What is Bitcoin?

From my research here is my definition of Bitcoin. First of all, it is not a literal coin. It is being sold and used online as a cryptocurrency. However, it is not considered a currency by some because of its limited use and has even been banned in some nations. Currently, it is being used to transfer money between negotiating parties that have the application (App) from Bitcoin that allows trades.  In its current state, it cannot be used in the traditional way that money is used, as most businesses do not take it as cash or money.  It uses “Blockchain technology which is a specific database that stores information in blocks that are chained together. Primarily the most common use so far has been as a ledger for transactions that Bitcoin and other cryptocurrencies are using. Blockchain technology, in itself, is being used by several businesses in processing their transactions so Blockchain is a useful tool for secure monetary digital transactions. The technology itself can be useful for online business transactions, so I am not talking about blockchain in this article but rather, Bitcoin cryptocurrency itself (although it uses blockchain technology.)

I copied this definition of Bitcoin from the Internet at http://factmyth.com/factoids/bitcoin-is-an-actual-coin/

“Bitcoin isn’t a literal coin; it’s a list of transactions recorded on a shared digital public ledger called a “blockchain”. All “coins” are stored in digital bitcoin “wallets” and can be verified against the ledger. Verifying transactions is done using cryptography in a process known as “bitcoin mining”. Bitcoin is set to allow one block to be added to the chain every ten minutes by miners. When transactions are added, new coins are created and paid to miners. This process helps control the rate at which new currency is introduced to the bitcoin economy and helps protect against fraud.”

What is Fiat Money?

Now my questions arise as to how this money was created in the beginning as I simply could not understand it from the videos I watched and how it is still being created today.  If it is along the lines that our government creates our current fiat money by using printing presses to print it out of thin air, then Bitcoin would fall into the same category that our government is doing, which is, in my opinion, creating counterfeit money. Why do I say this?  Because all paper money that has no gold or asset backing is simply what we call “fiat money.”  Fiat money refers to any currency lacking intrinsic value that is declared legal tender by a government. As valid currency solely by a government declaration, fiat money, is not backed by any commodity, such as gold, but only by the faith of the bearer. The only thing that gives worth to our paper money is the confidence that the people have in it.  If through inflation or other means, it loses its value it will no longer be worth anything. It is a currency that is not based on intrinsic money that should be created by labor.  I will now have to define what true money should be.

Definition of Real Money

It helps to understand the properties and functions of money.

The item serves as a medium of exchange. For an item to be considered money, it must be widely accepted as payment for goods and services.

The item serves as a unit of account. For an item to be considered money, it must be the unit that prices, bank balances, etc. are reported in.

The item serves as a store of value. For an item to be considered money, it has to (to a reasonable degree) hold its purchasing power over time.

As these properties suggest, money was introduced to societies as a means of making economic transactions simpler and more efficient, and it mostly succeeds in that regard. In some situations, items other than officially designated currency have been used as money in various economies. In biblical times, coins of silver and gold were used as that medium so the oldest medium used for the longest length of time has been gold and silver; therefore silver and gold fit this definition. My question does Bitcoin fit this description?  Bitcoin only has a short history.  Will it be accepted or rejected by the majority of the public as a new medium of exchange?   Bitcoin is not a proven form of currency, like gold or silver which has been established as a form of money since the Bible days.

Here is a list of reasons I am having issues with accepting Bitcoin and other cryptocurrencies as a means of monetary exchange:

Bitcoin…

Is Not Real Money: In my opinion, Bitcoin is not real money, but rather a digitized form of money, as true money (a means of exchange) is something you can hold in your hand. i.e.: gold and silver coins or paper money backed by gold. Of course, our money in the United States today is no longer backed by gold, so it is not real money either. (The government removed the gold-backing policy during President Nixon’s presidency. It is now called fiat money, but is considered legal tender by the US government and accepted by the general public.)

Is a Crypto Currency Investment with Risk: Bitcoin is traded on centralized and decentralized crypto exchanges. Investing or trading Bitcoin only requires an account on an exchange, though they have nearly the same level of features as their stock brokerage counterparts.  Bitcoin being an investment is similar to stock investments with the potential risk of losing your investment.  That being said, I would not want to invest in something unless I thoroughly understood it and knew the background of the people and technicians who developed it. With every stock investment, a person should investigate and vet the owners as to their integrity and company management guidelines and policies. Sadly, most stock purchases are more speculative and more like gambling than investing. (See my article on “What Does the Bible Say about the Stock Market?”)

I learned something from a book I read years ago entitled, “Business by the Book” written by Larry Burkett. He cautioned people not to invest money into something they did not understand, no matter how excited the seller or others might be about it.  Here is a quote from that book: Get-rich-quick thinking leads to three basic errors: (1) Getting involved with things you cannot understand; (2) Risking funds you cannot afford to lose, that is, borrowed funds, and (3) Making hasty decisions. Each of these actions violates one or more biblical principles…Together they constitute a sin called greed.”  Larry Burkett with Christian Financial Concepts.

This information saved Bud and me from putting money into questionable things over the years. Now regarding Bitcoin, I did some research by reading and watching videos so I could understand how it operates.  Even though I do have quite a bit of IT understanding and a computer background now, I still have only a partial understanding of Bitcoin. Although I have researched Bitcoin thoroughly, I just do not have the technical knowledge to fully understand how it operates. Here is a link I found that has a 5-minute video explaining how Bitcoin works.  If you understand it after watching it, then I would appreciate you writing me with an explanation in lay terms to help me understand it.

Explanation of Bitcoin in a 5-minute video

Has a Record of a Short History: Bitcoin (and other cryptocurrencies) only have a short history or record that is available for valuation, while gold and silver have been proven as a medium of exchange and used in most cultures down through the centuries.|

Comes with Loss of Privacy with Monetary Transparency Revealed to Others: With Bitcoin, you also have reduced privacy with every transaction as they can be tracked and are transparent to others in the Network. This creates a loss of your financial privacy. Do we want others to have the ability to see our spending records?

Requires Dependency on 4 Things: To use Bitcoin which is a “digital currency” or “cryptocurrency” you must have four things to make it work. These are a computer or cell phone, electricity, the software and technology and system it functions on, plus faith in the tech giants that operate and manage it. It will not work without all these things in place. How will the poor of the world be able to use it? (Perhaps governments will take care of the poor in a meager way in exchange for their votes?) What happens if you need funds and the electricity or internet is not functioning? What if there is not a cell tower in your area? What if their servers crash with all of your transaction records on them? Who manages the backups? How long will it take to recover your records?

Requires Faith and Trust in the System Managers: It is a peer-to-peer technology system that was created by IT gurus, so we must be able to trust them that they know what they are doing. They claim that Bitcoin is operated by a network and do not name an individual or individuals who now manage the system, but claim all members are managers. My question is who is the head of all the members? (I have my doubts about turning my money over to a network (networks are made up of people and who are these people?). Should we trust our money to them? Are they trustworthy? They would have to be people with technology backgrounds who understand it.  We are seeing what other tech companies are currently doing, in that they are making the decisions as to who can use their systems and who cannot use them. Will they decide to cancel people in the future? Remember we are seeing tech giants using the “Cancel Culture” to determine who will and who will not be allowed to use their systems.) Who is really at the root of Bitcoin and the group of people who are operating the entire system?  It cannot just be a nebulous “network” run by every member. That is my question. Maybe I just do not understand such a complicated system.  I read some advice years ago, about investing and what it said was, “If you do not understand it, do not invest in it.”

Is Mostly Available to the Very Rich: At present Bitcoin is used more for national and global trading and is not available for widespread local purchases, so it is limited to the very rich and not the ordinary person.

Is Still More Like a Speculative Stock Investment: I do know people have and will make money investing in Bitcoin to some degree; however, as with any speculative stock, no one knows when to get in and when to get out and those that are investing large amounts of their savings could very well lose it all, as some have already lost large amounts of money in Bitcoin when it nosedived in the past. Bitcoin at the present moment is not regulated by the government (although it could be in time). This being true many feel like some criminal elements are using it to launder money online and that is one reason the government has its eyes on it.

Is Being Touted As a Safe Haven for Savings as Fear of a Crash Looms Over the World: The reason Bitcoin is even being considered right now, is people are getting afraid they may lose their money because they realize that the banks could fail and we could have an enormous stock market crash any time, so they are looking for places to put their life savings. Many are in their 401(K) Savings Plans. Some financial advisors are telling people that Bitcoin is the place to put those funds. However, better advice would be to leave their funds intact in their 401(K) plans and just change their stock investments into the purchase of gold and silver. Financial advisors can help people switch to investments in gold instead of stocks in their 401(K) s if they are concerned about a stock market crash. The main thing is that you must hear from God what you are to do personally.  I am not a financial advisor. I am just sharing information with you.

Wrong Financial Advice Can Generate Fear: Fear should never motivate a Christian. We need to ask God for His Wisdom regarding the future. Since most people think that the stock market is “the only game in town” for investments, they do not know what to do with their money. This is the time we need God to guide us. There are other investments such as using funds to get totally out of debt, paying off your home, purchasing real estate in the country, purchasing gold and silver, purchasing hard assets, food stores, tools and equipment, and things people will need in the future, investing in helping people, helping the poor, investing in helping others establish small businesses outside of the stock market and investing in the Kingdom of God. If we commit all to God, He will guide us in what we need to do with our money.

Has Money Ever Failed in a Society in the Bible?

Yes, there is a record of money failing in a society in the Bible.  You can read the story in Genesis Chapter 47.

Genesis 47:15  “And when money failed in the land of Egypt, and in the land of Canaan, all the Egyptians came unto Joseph, and said, Give us bread: for why should we die in thy presence? for the money faileth.”

There was a famine in the land during the time that this happened.  However, God had raised a man named Joseph who was the Pharaoh’s right-hand man and he had wisdom from God and had stored up food for hard times for the people of the land since he was given knowledge from God that the famine was coming and how long it would be. Today, there are Prophets and people of God that are telling people there will be food shortages and that they should store up food now while we have a window of time to do so.  In the coming days, food could be more valuable than gold or money.

Yes, God will take care of His children no matter what happens, but perhaps He wants to help us prepare ahead of time, so we will not be a victim of what the devil is planning and it will be easier for us than those who do not prepare or plan.

China has implemented cryptocurrency in some of its cities, but it comes with the cost of the total loss of financial privacy and government control. The same plans are in the making for our country. China, being a communist country, has always restricted freedom, so it was easy for their government to manipulate the masses there, to implement this new monetary system. However, we are a free nation and it will be harder for the government here to deceive the masses, but people are vulnerable when it comes to the need for money and food.  Several Christian business people in our nation are aware of these plans and are positioning themselves not to become a part of them.  Several moral people feel the same way. The testimony below is one of those people. (I do not know if they are Christians). These are not Christian testimonies per se, but rather common-sense testimonies.

Here are a couple of videos you need to take the time to view if you are concerned about inflation and your investments. I would encourage you to do so, as these videos will enlighten you about some of the things that are going on right now. Since Bud passed to heaven, I have had the time to pray more and review and research several YouTube videos and sermons. The Lord has led me to some very revealing things that are going on right now in financial circles that need immediate prayer. Many other things are happening as well, that confirm we are in those perilous times mentioned in the Bible. We are definitely in the time of the end right before Jesus comes to this earth again.  But remember that day comes after a period of great tribulation according to Matthew 24.

2 Timothy 3:1-5:

1 This knows also, that in the last days, perilous times shall come.   2 For men shall be lovers of their selves, covetous, boasters, proud, blasphemers, disobedient to parents, unthankful, unholy, 3 Without natural affection, truce breakers, false accusers, incontinent, fierce, despisers of those that are good,  4 Traitors, heady, high-minded, lovers of pleasures more than lovers of God;  5 Having a form of godliness but denying the power thereof: from such turn away.

YouTube Interviews Warning of the Coming Collapse

I have included a couple of interviews I found on YouTube if you would like to watch them.  They are warning people of the coming collapse. The first one is an interview by Daniela Cambone interviewing Lynette Yang (of Phoenix, AZ) who is telling people to get out of the system since the Feds have a Master Plan regarding the soon collapse of the monetary system which will cause many people to lose their entire savings (or a big portion of them). The government then wants to lead the masses into surrendering control of their money to them.  One is posted from Stansberry Research (which Ron Paul endorses.)   It was just posted on March 22, 2021.

Lynette Yang: Why You Must Get Out of the System. The Fed’s Master Plan (10-Minute Video) Interview by Daniela Cambone with Stansberry Research

In this video Lynette Zang, Chief Market Analyst at ITM Trading and a good friend, explains central bank is getting prepared because they expect to lose control of inflation soon “This new system will enable the Fed to deposit money directly and give them absolute control of their policies. This coming UBI stimulus scheme will be the fuel that starts the hyperinflation fire since we are a consumer-driven economy; they have to get us to consume,” she says. Watch the video at the link below:

Lynette Yang: Why You Must Get Out of the System. The Fed’s Master Plan (22-Minute Video) Longer interview with more details watch the video at the link below:

Also, if you want an understanding of why the nation (and the world) is on the brink of a total financial collapse, Peter Schiff shares those reasons in this video link below.  God is shaking everything that is not built on His Word and our biggest problem financially is that we, as a nation, are headed for bankruptcy without divine intervention from God. It is because of the enormous amount of debt we have with no way to pay it off. Simply put, the outgo is more than the income. Record-high government debt is projected to hit $31.4 TRILLION by 2030.  This is impossible to sustain in the natural. Only God can save us. He is waiting on us to individually and corporately repent of our sins so He can show us the way out of destruction.

Is America the next Greece? Peter Schiff with the Fraser Institute (57 Minute Video)

 What happened in Greece? For the sake of brevity, during the years 2009 to 2016, Greece faced a national bank crisis which led to it facing total bank collapse.  Greek voters said “no” to austerity measures (cutting back on spending), so instability created a run on the banks. Greece sustained extensive economic damage during the two weeks surrounding the vote. Banks closed and restricted ATM withdrawals to 60 euros per day. They were not allowed to withdraw their money from their checking and savings accounts.  Instead, the bank proposed they would give them only a portion of their deposited monies and would give them bank stock for the rest of their funds to keep the bank from going bankrupt.  The people had to accept this deal or they would have not received any of their money at all.  Can this happen in the United States? Watch the video at the link below:

The Fall of a Democracy

The quote below is by Alexander Fraser Tytler, Lord Woodhouselee who was a Scottish advocate, judge, writer, and historian who served as Professor of Universal History, and Greek and Roman Antiquities at the University of Edinburgh

“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world’s greatest civilizations has been 200 years. Great nations rise and fall. The people go from bondage to spiritual truth, to great courage, from courage to liberty, from liberty to abundance, from abundance to selfishness, from selfishness to complacency, from complacency to apathy, from apathy to dependence, from dependence back again to bondage.”

The government and corporate greed and lust, with no restraint, have led us to this place. It is only a matter of “when this will happen,” not “if it will happen.”  Our government has broken all the biblical financial laws, especially in the area of debt, so this federal system can no longer stand. If we break those same financial laws, we too will fail financially.  Our debt can also bring destruction to our nation. Debt is not sinful, but failing to repay our debts is. We can sin by not obeying God with our money. If you are having financial difficulties, there is a checklist on this page as to what you may not be doing regarding your finances. Click on the link to an article I wrote on “What the Bible Says about Finances.”

One major financial sin Christians are committing is their failure to tithe and give to the works of God.  Sin has led us to this place and only repentance will save us. However, God has a remnant of people who are hearing His voice and God will save them as He did Noah and his family in the time of the flood that swept away that violent society. (Genesis 6 & 7). Right now the devil is trying to set up people for the future “mark of the beast.”  Things are now unfolding rapidly that was predicted in the Bible thousands of years ago. Men will be marked in their minds long before they will be marked physically unless they are putting the Word of God into their hearts and minds.

I have spent the day writing this as it was urgent in my heart. I do not know how much time we have before these events begin to unfold, it could be days, weeks, or even a year or two. Since God is merciful, He gives us more time to repent and obey Him when we pray and seek Him.  I just know the Lord wants to help us get ready in the natural, as well as get ready in the spirit as well. Please pray about how the Lord wants you to respond to the information I have shared with you in this article. As I said, I am not a financial counselor, but I have learned and practiced what the Bible says about finances so I am not afraid as I know the Lord will not only provide for us in hard times but will also use His people to help others in the days ahead.  He is sending His glory on His people in the days ahead to show Himself as the mighty God Who preserves His people. We are shifting into supernatural guidance and provision for all who are fully committed to the will of god. I am listing some additional links below that you might want to read as well.

        A Warning to Rich Men Who Look to Their Riches Instead of God

James 5:1-8:

1 Go to now, ye rich men, weep and howl for your miseries that shall come upon you.  2 Your riches are corrupted, and your garments are moth-eaten. 3 Your gold and silver are cankered, and the rust of them shall be a witness against you and shall eat your flesh as it were fire. Ye have heaped treasure together for the last few days.  4 Behold, the hire of the laborers who have reaped down your fields, which is of you kept back by fraud, crieth: and the cries of them which have reaped are entered into the ears of the Lord of Sabaoth.  5 Ye have lived in pleasure on the earth, and been wanton; ye have nourished your hearts, as in a day of slaughter.  6 Ye have condemned and killed the just, and he doth not resist you.  7 Be patient, therefore, brethren, unto the coming of the Lord. Behold, the husbandman waiteth for the precious fruit of the earth, and hath long patience for it, until he receives the early and latter rain.  8 Be ye also patient; establish your hearts: for the coming of the Lord draweth nigh.

Bottom Line

If none of this applies to you or has spoken to you, my last word on this subject is this.  No amount of money will save any of us in the days ahead. If we are trying to protect our money, without submitting completely to the will of God (being willing to go anywhere, give up anything and do anything He asks of us); then we shall surely lose our worldly possessions. He wants us to trust Him. God is dealing with lust and idolatry in the hearts of His people and He loves us enough to chastise us so we do not end up backsliding or miss our blessings or even end up in hell. Remember the parable of the “Ten Virgins” in Matthew 25. Five of them could not enter the wedding chamber with Jesus. This chapter also talks about those who hid the Lord’s money and what happened to them.

I guarantee you will be able to hear God once you commit totally to Him. 

God wants you to hear from Him regarding all things so I encourage you to surrender totally and unconditionally to Him today.  He wants to make you into His image and cause you to overcome all things that are hindering your walk with Him.

For those who are overcomers and make up His bride, He has great things in store for them. One of those is that He wants to make us rulers over all of our goods according to Matthew 24:42-47: 42 Watch, therefore: for ye know not what hour your Lord doth come.  43 But know this, that if the goodman of the house had known in what watch the thief would come, he would have watched, and would not have suffered his house to be broken up.  44 Therefore be ye also ready: for in such an hour as ye think not the Son of man cometh. 45 Who then is a faithful and wise servant, whom his lord hath made ruler over his household, to give them meat in due season?  46 Blessed is that servant, whom his lord when he cometh shall find so doing.  47Verily I say unto you, that he shall make him ruler over all his goods. Respectfully Submitted, From: Steven P. Miller @ParkermillerQ, Founder of Gatekeeper-Watchman International Groups Jacksonville, Florida., Duval County, USA. Instagram: steven_parker_miller_1956,

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My Prediction: Bitcoin Will Win In 2023 - Bitcoin Magazine

This is an opinion editorial by Obi Nwosu, CEO of Fedi and a board member for ₿trust.In 2020, I predicted that Bitcoin would face attacks during the 2018 to 2023 period but would ultimately emerge successful by the end of it. Although I am not a prophet, it was clear to me that this would be a critical time for Bitcoin. When the bear market hit this year, we saw a "cleansing" of the Bitcoin ecosystem and an opportunity to refocus on its main mission of monetary freedom.The snowball started in the heat of July with the Celsius bankruptcy, which was the first sign that the ecosystem we were building was not healthy. The fact that we were using a decentralized currency to mirror the centralized financial system did not match the vision for Bitcoin.This once again highlighted the existence of two alternate and diverging realities for Bitcoin: "real" Bitcoin, which is rising from the bottom up and focuses on the value Bitcoin can bring to the world, and "regulated" Bitcoin, which is focused on price and committed to regulatory systems and adoption through speculation.I sold Coinfloor in 2021 because I realized that exchanges like ours were too often dedicated to keeping their users trapped in regulated Bitcoin land. As we near the end of 2022, the negative effects of this have been painfully demonstrated by the collapse of FTX, the regulatory fallout and the losses incurred by so many innocent people.On the other hand, real Bitcoin is flourishing in the Global South and post-Soviet regions, where innovation is addressing the narrative that Bitcoin has no good use cases. For instance, a new version of frontier towns is emerging, combining renewable energy, Bitcoin mining, internet connectivity and community custody. As I have long suspected, real Bitcoin adoption can only come from the people, and Fedimint and Fedi seek to be key in achieving hyperbitcoinization. The world will experience the most primitive form of protection — humans united — translated and turbocharged through the highest technology.In the coming years, communities will play a crucial role in defining the path for Bitcoin. Bitcoiners are already empowering communities around the globe, but it is vital that our global community also stays united to win this battle. As I predicted in my 2020 post, we will certainly succeed in this endeavor and so I am more convinced than ever that Bitcoin will win in 2023.This is a guest post by Obi Nwosu. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine. Read the full article

[atozcrypto]

How can you buy or sell Bitcoins & other cryptocurrencies?

Do you want to buy or sell cryptocurrencies, for example, Bitcoin? You can do it multiple ways, through an exchange, wallet, or ATM. Here is a detailed guide on it. 

If you want to buy cryptocurrencies or Bitcoins, you need to create an account for a crypto exchange. But there is another option to try if you don't want to choose the first one. In this cryptocurrency market zoom, we will discuss how to buy Bitcoins from a Bitcoin ATM. Well, we should not use the word ATM because it would dispense real currency, and Bitcoin is not a fiat currency. 

Actually, through this machine, you can buy and sell Bitcoins without making an account. The goal is to make the process simplified and easier. You can have custody of the Bitcoins that you purchase in a crypto wallet. If you have a wallet, you can send the amount to a deposit address. You need to have a crypto wallet to buy Bitcoins from an ATM. But you need to ensure that you are doing it safely, as scammers often target unsuspecting users through this method. 

The first ATMs are first launched in 2013, in a cafe shop in the Canadian city of Vancouver. A lot of Bitcoin miners spend a lot of time in these cafes, using Bitcoins to pay or spend 10,000 coins on two pizzas. All over the world, 36,610 Bitcoin ATMs are in 77 different countries, as per market research. Genesis Coin has the largest chain of Bitcoin ATMs with 15,140 machines, General Bytes with 7,965, and BitAccess with 5,549. Bitcoin Depot (19.1%), CoinCloud (14.1%), and CoinFlip (9.7%) are some other options.

So how would you buy Bitcoin from an ATM? You will find a QR scanner in the ATM where you need to scan the wallet's QR code. It will tell you your wallet address and may ask for your phone number. And in some cases, you need to show your official ID to follow KYC (Know Your Customer) and AML (Anti-Money Laundering) rules. 

Now you have to put the amount, double check it before proceeding. In some cases, you may receive a printed receipt before making the final transaction. Now, you type in the number of cash bills and confirm the transaction. You will get the amount in the final step. 

Some Bitcoin ATMs allow people to sell Bitcoins too. You can send Bitcoins to the wallet address shown on the ATM. You may receive your money almost immediately or may have to wait and redeem the code to get your money.  

Can you find a Bitcoin ATM near you? Maybe, because these things are still novelty items. You can use Google to search and type the term Bitcoin ATM near me. You will find the nearest ATM on the map and can go there and withdraw the amount. You can see the reviews to see which one is the best option to safeguard your interests and privacy. Some tools can be used to find out these machines such as Coin ATM Radar’s online map. Some ATMs also support other cryptocurrencies like Ethereum, etc. Here we will end our cryptocurrency market zoom blog. We will come up with more guides, news, and articles, until then stay tuned.

[coinprojects]

New Post has been published on https://coinprojects.net/crypto-winter-may-not-end-anytime-soon/

Crypto winter may not end anytime soon

Key Takeaways

Crypto is one year into a vicious bear market This is the first time crypto has experienced a bear market in the wider economy, too With too many negative macro variables, and the zero-interest rate era over, it seems naïve to think crypto can bounce significantly in the short-term

  Anyone betting on a swift recovery in the crypto markets might want to reassess.

If you are familiar with my analysis, you will know I have been bearish for a while. This mainly comes down to the macro setup, as the economy reels in the face of this new paradigm of high-interest rates.

Crypto represents one of the highest-risk asset classes around, and hence was always going to the struggle once the rug was pulled out from under it. And that is what has happened, with Jerome Powell and the Federal Reserve pulling that rug out mercilessly.

With this macro backdrop in this position, there is a ceiling in place. Crypto will not rise until inflation is beaten and interest rates peak. Currently, T-bills are trading at 4%, but this will likely rise to 5% in early 2023.

There is still concern that inflation, which does seem as if it has peaked, will nonetheless persist for some time. The labour market has yet to feel real tightness, while demand has been subdued but not significantly.

More bad news

This landscape what was led me to declare that crypto could be one bad event away from a  meltdown. It was range-bound at the $20,000 mark for too long, unable to break out while restrained by the bearish sentiment in the wider markets.

I didn’t expect that event to be quite so seismic, however. FTX’s implosion represents a watershed moment for crypto. I believe it will cause even greater harm than what most forecast.

We saw credit agency Moody’s place Coinbase’s bonds on review for downgrade, hinting at the detrimental action that could follow the exchange’s insolvency. I wrote a piece analysing the deluge of Bitcoin flowing out of exchanges, showing that trust had been broken and was at an all-time low.

In fact, a pretty staggering 200,000 bitcoins flowed out of exchanges less than a month after the FTX collapse. And even Cathie Wood is warning of a pullback in institutional adoption.

  They say “be greedy when others are fearful”, but I’m not sure that applies here. Cryptocurrency is at a fork in the road. It has never existed during a bear market in the wider economy before – remember, Bitcoin was launched in 2009, and hence has experienced nothing but an explosive bull market in financial assets.

Now, it is different. Contagion is again swirling, crypto’s reputation is in tatters and the money printer is no longer propping everything up. Times are tough.

Previous crypto winters

Against this context, this environment is unprecedented for crypto. This is why I believe that extrapolating past cycles to current conditions is naïve. It is a lot easier to bounce back when interest rates are at 0% and the rest of the economy is booming. Not only that, but the scale of the capital destruction this time around is much greater, given crypto grew so much during the pandemic years.

Having said that, there will come a time when inflation is beaten. There will come a time when interest rates are no longer being hiked. This is the cyclical world we live in, and hence risk assets will rise again.

I just believe that this time, the winter may last a little longer than a lot are expecting. And when looking at previous cycles, the winters lasted long then, too. The below chart plots the Bitcoin price back to 2014, showing this well.

Following the peak of close to $20,000 in December 2017, it was not until Q4 of 2020, deep into the pandemic, that Bitcoin once again breached this mark. That marked a near 3-year fallow period, where investors failed to enjoy any significant gains in the crypto world.

We are one year into this bear market now, both in crypto and financial assets in general. Forecasting the future in crypto will only ever end with you looking silly, but I’ll try anyway. I would be surprised if we were beyond halfway through this bear market.

As the winter snap hits hard in Europe and people feel those high energy prices, the war in Ukraine rages on, and inflation continues to persist stubbornly, it just feels naïve to think crypto could rise anytime soon.

Of course, that could theoretically change in an instant. Positive news out of Ukraine could send markets north in an instant, but that is impossible to predict. I think the base case, however, is a longer period of pain ahead than a lot of people realise.   

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Source link By Dan Ashmore

#Altcoin #Bitcoin #BlockChain #BlockchainNews #Crypto

[bitcofun]

This is a viewpoint editorial by Brooks Lockett, a freelance author and Bitcoiner who dropped the bunny hole in 2018. I wish for the day when savers surpass speculators on this world. And the FTX legend has actually revealed us that we're no place near to that dream. Still, the future stays intense. This post tries to determine the mental forces underpinning the current FTX crash, and offer insight into how we can develop info that hooks newbies straight onto the bitcoin requirement and assists them prevent getting knotted with the siren call of altcoins. The existing truth is that-- on the surface area-- bitcoin does act like a speculative financial investment. "Number go up innovation" ( NGU) is the proverbial hook for the majority of newbies -- including me at. Individuals tend to acknowledge bitcoin just as another possession prior to they acknowledge it as an unique network. While more speculative traders going into the area does offer Bitcoin wider mainstream direct exposure, it's no assurance that this alone will lead to any genuine, enduring grassroots adoption ( i.e. long-lasting savers who comprehend the transformation and appropriately keep their funds in self-custodied freezer) Trading isn't "bad," however it does totally miss out on bitcoin's much larger function. For people, Bitcoin is an unique set of technological, financial and social abilities. For society, Bitcoin is a total re-mapping of our financial neural circuitry. It is a Renaissance-scale overhaul of how we jointly consider and utilize cash. And regrettably, we're extremely far from the mainstream pertaining to that awareness. FTX is simply among lots of occasions that clarified this essential problem. At the existing time of composing, the worldwide macroeconomic landscape remains in a continuous state of tripping from one carnage occasion to another. We're experiencing significant exchanges liquifying over night, altcoin disasters and an ever-growing attack of unverified mainstream media attacks While perfectionist Bitcoiners who have their funds self-custodied in freezer view these occasions as unhurt viewers, the other 99% are the ones who experience the impact of the discomfort. So what's going on here? To me, this develops a downside in which more individuals than ever in the past are getting lost in the fog instead of finding the signal. We require to reveal individuals how to browse this extremely abundant shop of details that is the Bitcoin (not "crypto") bunny hole. Bitcoin is much better framed as a subject you study deeply and master instead of a tech stock you buy. Unlike speculation, genuine abilities: - Don't need timing the marketplace.- Can not be taken by federal governments.- Can not be lost in an afternoon due to volatility.- Can not offer you the carpet. At the red hot molten core of what makes Bitcoin function is proof-of-work(PoW). The keyword here is "work." In the very same method miners can just guarantee blocks stand if they've invested a specific quantity of computational power to produce, the only method for people to prosper in Bitcoin is to pass up faster ways in favor of genuine research study and effort. And finding out harms. My very first effort at putting together a hardware wallet was painstaking. The effort, which needed several efforts, didn't come naturally to me. The very same held true with assembling my very first Umbrel node, therefore too with comprehending how to appropriately support seed expressions. As irritating as the experiences were, it was those minutes that formed brand-new neural connections in my brain. And it's those neural connections that equipped me with the understanding to not get scared by rate volatility. Learning About Bitcoin Is The Fiat Antithesis Getting into Bitcoin needs absolutely no university degrees, absolutely no qualifications and no tech or monetary background. It's totally available to everybody from any background or education level. It does not matter who you are, what your skin color is, where you've been or where you're going.

In a 2016 talk at the Blockchain Training Conference, Andreas Antonopolous explained Bitcoin as a "superorganism" comparable to nests of Leafcutter Ants. The brains of private Leafcutters are made up of just 10 thousand approximately nerve cells. Together they form a complicated farming society of private factors. A Culture Of Contributors, Not Extractors Imagine the whole body of understanding in Bitcoin consisted of inside a huge cookie container. The majority of people take cookies out of the cookie container and never ever put cookies back in. The finest Bitcoiners take their current understanding, those lessons and all the knowledge they found out and figured out entire brand-new methods to use, broaden upon and develop something brand-new for the next generation of trainees. Bitcoin as a field of understanding is a living, breathing thing that requires to be fed. And you do not need to be a designer to add to Bitcoin Writers, artists, legal representatives, filmmakers, even oil business, are utilizing their special backgrounds to enhance the market. As media thinker Marshall McLuhan composed in the 1960 s, the innovations we utilize shape our ideas. By experiencing sound cash through utilizing hardware wallets, assembling your own node, mining or any other opportunity you check out within Bitcoin, you gradually reorganize your psychological meshwork connecting to how cash is expected to work. Now envision what occurs as this procedure scales-- when the concepts of sound cash get engraved into individuals's identities. Societal motions, as mentioned in Charles Duhigg's book " The Power Of Habit," start due to the fact that of" [T] he social practices of relationship and the strong ties in between close associates. It grows since of the practices of a neighborhood, and the weak ties that hold communities and clans together. And they withstand due to the fact that a motion's leaders provide individuals brand-new routines that produce a fresh sense of identity and a sensation of ownership." This sensation of ownership amongst the Bitcoin neighborhood is what we're seeing increasingly more these days-- albeit taking on the fancy, deceptive stories of altcoins. Movements at this scale tap totally into our brains' intrinsic neuroplasticity. For a very long time, individuals have actually been stating that our brains are mostly repaired by the time we maturate. Current brain research study is finding that our brains really remain flexible throughout our lives and are able to reprogram themselves on the fly. This 2014 Nature Communications Study counters the widely-held belief that our brains lose their plasticity and end up being more sealed as we age. Takeo Watanabe, The research study's co-author and Professor at Brown University, stated that we "keep the capability to discover, aesthetically a minimum of, by altering white matter structure." According to Watanabe, the human brain is biologically-equipped to break stagnant connections and produce brand-new ones. And isn't that eventually our job at hand: to break fiat nerve connections and form much better ones? Alan Turing's 1936 paper " On Computable Numbers" supplies another engaging example. The prescient computer system researcher properly forecasted that digital computing gadgets would ultimately subsume every medium of info processing. Ever since, digital bits and bytes have actually become our maps, our clocks, our typewriters, our calculators, our telephones, our radios, our tvs-- and now they're becoming our cash. To conclude, when we purchase ending up being long-lasting trainees of Bitcoin, it opens the world more totally to us. Discovering the ins-and-outs of the procedure and its ramifications is eventually a workout in recovering your sovereignty The knowing procedure is continuous, bothersome, extensive and totally required. I'll leave you with something: investing your time, energy and brain power into this area will be among the most gratifying pursuits of your whole life.

This is a visitor post by Brooks Lockett. Viewpoints revealed are totally their own and do not always show those of BTC Inc or Bitcoin Magazine. Read More

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Is Crypto Really Going To Crash? (Yes)

Crypto is going to crash and could take your savings with it.

In June 2022, Bitcoin dropped over 30 percent to its lowest values since December 2020, and Ethereum, the second-most valuable cryptocurrency, fell about 35 percent. TerraUSD, a so-called “stablecoin,” also collapsed when its underlying cryptocurrency LUNA lost 97 percent of its value in just 24 hours, apparently destroying some investors’ life savings. The implosion helped trigger a crypto meltdown that erased $300 billion in value across the market.

As cryptocurrency prices plummeted, Celsius Network — an experimental cryptocurrency lender — announced it was freezing withdrawals “due to extreme market conditions.”

These crypto crashes and freezes have fueled worries that the complex crypto banking and lending system is on the brink of ruin.

But this crash shouldn’t surprise anyone familiar with the industry – or anyone who remembers the financial crashes of 1929 and 2008.

Let me explain.

In the murky world of crypto decentralized finance, known as DeFi, it’s hard to understand who provides money for loans, where the money flows, or how easy it is to trigger currency meltdowns. 

There are no standards for issues of custody, risk management, or capital reserves. There are no transparency requirements. Investors often don’t know how their money is being handled. Deposits are not insured.

It’s a Ponzi scheme. Like all Ponzi schemes, getting rich depends on how many other investors follow you into it – until somebody’s left holding the worthless crypto coin.

Why isn’t this market regulated? Follow the money.

The crypto industry is pouring huge amounts into political campaigns. It has hired scores of former government officials and regulators to lobby on its behalf — including three former chairs of the Securities and Exchange Commission, three former chairs of the Commodity Futures Trading Commission, three former U.S. senators, and even former Treasury Secretary Larry Summers.

In the past, cryptocurrencies kept rising by attracting new investors and big Wall Street money, along with celebrity endorsements. But all Ponzi schemes topple eventually – just like the Wild West finances of the 1920s did.

Back then, Americans had been getting rich by speculating on shares of stock, as other investors followed them into these risky assets — pushing their values ever upwards. When the toppling occurred in 1929, it plunged the nation and the world into the Great Depression.

That crash resulted in the Glass-Steagall Act, signed into law by Franklin D. Roosevelt in 1933. Glass-Steagall separated commercial banking from investment banking, putting an end to the giant Ponzi scheme that had overtaken the American economy and led to the Great Crash of 1929.

It took a full generation to forget that crash and allow the forces that caused it to repeat their havoc.

By the mid-1980s, as the stock market soared, speculators noticed they could make even more money if they gambled with other people’s money, as speculators did in the 1920s. They pushed Congress to deregulate Wall Street, arguing that the United States financial sector would otherwise lose its competitive standing internationally.

The final blow was in 1999, when the Clinton administration succumbed to intensive lobbying and ditched what remained of Glass-Steagall. With its repeal, American finance once again became a betting parlor.

Inevitably, Wall Street suffered another near-death experience when its Ponzi schemes began toppling in 2008, just as they had in 1929. While the U.S. government bailed out the biggest banks and financial institutions, millions of Americans lost their jobs, their savings, and their homes – but only a single banking executive went to jail. In the wake of the 2008 financial crisis, a new but watered-down version of Glass-Steagall was enacted — the Dodd-Frank Act.

Which brings us — nearly a century after Glass-Steagall — to today’s crypto crash.

If we should have learned anything from the crashes of 1929 and 2008, it’s that regulation of financial markets is essential. Otherwise they turn into Ponzi schemes — leaving small investors with nothing and endangering the entire economy.

It’s time for the Biden administration and Congress to end the crypto Ponzi scheme. In the meantime, share this video so your friends and family don’t fall for it.