issue 48 - week of 09-12-21
curating the good stuff for the casual bitcoin enthusiast each week
news
In Global First, El Salvador Adopts Bitcoin as Currency.
https://www.nytimes.com/2021/09/07/world/americas/el-salvador-bitcoin.html
El Salvador Taps Billionaire-Backed Bitcoin Unicorn In Historic Legal Tender Debut.
https://www.forbes.com/sites/jonathanponciano/2021/09/07/el-salvador-taps-billionaire-backed-bitcoin-unicorn-in-the-cryptocurrencys-historic-legal-tender-debut/
El Salvador’s new bitcoin wallets could cost Western Union and similar companies $400 million a year.
https://www.cnbc.com/2021/09/09/el-salvador-bitcoin-move-could-cost-western-union-400-million-a-year.html
Ukraine Is the Latest European Country to Legalize Bitcoin.
https://www.nasdaq.com/articles/ukraine-is-the-latest-european-country-to-legalize-bitcoin-2021-09-10
Survey: 48% Of Brazilians Want To Make Bitcoin A Legal Currency.
https://www.nasdaq.com/articles/survey%3A-48-of-brazilians-want-to-make-bitcoin-a-legal-currency-2021-09-10
Visa to Accept Crypto as Payment in Brazil.
https://www.pymnts.com/visa/2021/visa-to-accept-crypto-as-payment-in-brazil/
Digital Currencies Pave Way for Deeply Negative Interest Rates.
https://www.wsj.com/articles/digital-currencies-pave-way-for-deeply-negative-interest-rates-11631091581
Edward Snowden: Global Bitcoin Game Theory to Begin Playing Out.
https://bitcoinmagazine.com/markets/snowden-urges-nations-to-embrace-bitcoin
Bitcoin for Sale - Through the Post Office.
https://www.telegraph.co.uk/money/consumer-affairs/bitcoin-sale-post-office/
Blockstream to Pilot Renewable Bitcoin Mining Facility With Australia’s Macquarie Group.
https://www.coindesk.com/business/2021/09/06/australias-macquarie-group-and-blockstream-to-pilot-renewable-bitcoin-mining-facility/
Cryptocurrencies: developing countries provide fertile ground.
https://www.ft.com/content/1ea829ed-5dde-4f6e-be11-99392bdc0788
Bitcoin to Bucks: Crypto Fans Borrow to Buy Homes, Cars—and More Crypto.
https://www.wsj.com/articles/crypto-fans-borrow-to-buy-homes-carsand-more-crypto-11631266200
Steph Curry secures deal with crypto platform FTX.
https://fortune.com/2021/09/07/nba-steph-curry-ftx-deal-cryptocurrency-platform/
media
Hedgeye. McCullough: Of Course Bitcoin Volatility Came Back; Buy The Dip.
Podcast. The Anita Posch Show: Andreas M. Antonopoulos - Lightning Unleashes Bitcoin.
Podcast. What Bitcoin Did: Bitcoin vs Gold #2 with Peter Schiff & Greg Foss.
tweets
"#Bitcoin is too risky!"
Wrong. On a risk adjusted basis, there hasn't been a better asset class to hold.
Volatility ≠ Risk. If you can't handle the volatility, scale your position size accordingly.
Now bullish on $BTCUSD, good risk/reward setup, first target the upper bband, progressive stop under today's low.
Price down because of a leverage wipeout meanwhile all indications of accumulation grew stronger, including a large uptick in BTC supply held by strong hands.
Bull market is not over, just another shakeout. Underlying market structure continues to strengthen.
STANDARD CHARTERED SAYS STRUCTURALLY VALUES BITCOIN IN A $50,000-$175,000 RANGE, SEES CYCLICAL PEAK OF $100,000 IN LATE 2021
The supply held by long-term BTC holders has officially hit an all-time high.
Long-term holders are now in control of ~13 million BTC, up 20% since Bitcoin’s price topped in April.
@kenoshaking
Today I sent a remittance payment from my US bank account to a close friend born and raised in El Salvador.
The payment was settled instantly. There was no fee.
Using the #Bitcoin network under the hood, we were able to achieve cross-border, instant, free, cash finality.
This is to all the critics who said #Bitcoin would never be used to buy coffee. Just payed for mine at Starbucks in #ElSalvador. I just hope this doesn’t become the new 10,000 BTC pizza…
OPENNODE - MCDONALD'S EL SALVADOR IS NOW ACCEPTING BITCOIN PAYMENTS ON LIGHTNING NETWORK POWERED BY BITCOIN PAYMENT PROCESSOR OPENNODE
$MCD
BREAKING: PANAMA DRAFT LEGISLATION ALLOWS FOR INCOME TAXES TO BE PAID WITH #BITCOIN. 🇵🇦
(h/t @AbelitoPanama)
El Salvador has just bought it’s first 200 coins.
Our brokers will be buying a lot more as the deadline approaches.
#BitcoinDay #BTC🇸🇻
Consider this graphic from Lawrence Livermore Labs.
67% of the energy in the US is “rejected energy”.
About 10% of the “rejected energy” could run all of the #Bitcoin miners in the world.
The last time a bullish cross happened was about 15 months ago.
Bitcoin’s price was around 8.6K$ back then. After the cross occurred, it jumped about 6.5 times about its previous level.
Longing the dips, especially between the 100 and 200 EMA was very lucrative.
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