BitcoinFriday on Nostr: 🧠Quote(s) of the week: 'The road to independence and autonomy from all kinds of ...
🧠Quote(s) of the week:
'The road to independence and autonomy from all kinds of systems is a journey that needs effort and time on your part. Bitcoin is the same.' -Bitcoin Friday
'Over the last year, the US Government borrowed approximately $99,802 per second.' -James Lavish
🧡Bitcoin news🧡
Before we start I want to share some deep knowledge:
'If, like many of us, you feel a bit taken aback by events of the past week in Bitcoin, you may be wondering about what you can do, practically, to maintain your ability to transact freely and to preserve your privacy.'
Great thread by Freddie New, worth your time: https://twitter.com/freddienew/status/1784218269542498318
22nd of April:
Swiss Bitcoiners to launch a petition for the National Bank to buy Bitcoin for its national reserves.
"By including Bitcoin in its reserves, Switzerland would mark its independence from the European Central Bank. Such a step would strengthen our neutrality."
They need over 100K signatures to trigger the vote. Technically, it's not a petition, but a Popular Initiative, which is quite different. This concise amendment allows the Swiss National Bank flexibility in implementation. The initiative aims to spark a debate about Switzerland's future amid global uncertainties, emphasizing sovereignty and neutrality.
But the Chairman of the Swiss National Bank said the following: "We have not yet decided that we want to invest in Bitcoin.
Currency reserves are international payments:
1. They have to be liquid.
2. They have to be sustainable.
3. And we have to be able to see and buy them." -Bitcoin Archive
➡️In 2023 I have said the following multiple times regarding politicians & Bitcoin: "My personal opinion. Be wary of politicians who promise to give you exactly what you want. Politicians are just politicians! Bitcoin doesn't need politicians, politicians need Bitcoin (and votes). Don't lose the plot. And stop larping! Stay humble & stack sats."
A lot of people on Bitcoin Twitter, telegram, and so on were larping and routing for RFK. jr.
Last week he made the following statement:
“I’m gonna put the entire US budget on blockchain", “Every American can look at every budget item in the entire budget, anytime they want, 24 hours a day.”
“We’re gonna have 300 million eyeballs on our budget!”
This kind of statement reveals he doesn't get any of this, does he? On February 24' he also mentioned that he is buying ETH for his kids. Time to study Bitcoin RFK or is it just another fiat politician like Javier Milei (yes I am still not convinced)? Trying to gather as much support as possible, then crawl back to central bankers if elected.
'If the government wants to publish real-time budgets they can already do this on their websites. The blockchain adds nothing to this. The problem is reporting, not storage. This is no different than saying the government will publish their budget to “the cloud”.'- Yan
➡️Bitcoin may be due for a surge, as the MVRV ratio dips below its 90-day average again.
Historically, this has led to a 67% gain on average.
➡️ 'BlackRock now holds 273,596 Bitcoin worth $18 billion for its spot Bitcoin ETF.
BlackRock's ETF holds 59,350 more bitcoin than MicroStrategy.' - Bitcoin Magazine
➡️ S&P 500 company Raymond James subsidiaries declare holdings of Bitcoin ETF GBTC worth $3m.
Combined AUM $625B.'- Julian Fahrer
Although it is only $3M to me it's a sign, that the institutions are coming.
24th of April:
➡️26+ Bitcoin companies signed a letter to FinCEN against proposed surveillance rules that would seriously harm privacy by effectively prohibiting basic Bitcoin best practices such as not reusing addresses and collaborative Bitcoin transactions. (Picture1)
25th of April:
➡️FBI warns Americans against using non-KYC Bitcoin and crypto money transmitting services.
It's becoming clearer that the U.S., but also here in the EU governments pursue surveillance policies and work to suppress the rights of their citizens to (financial) privacy and financial opportunity. They don't like competition. They don't believe in a real free market.
Remember "KYC is a security hole. Businesses are just bullied/forced by governments to collect customer information. It’s really difficult to secure information in the internet age. Some of the largest and most capitalized companies still get hacked regularly." - Gabor Gurbacs
1. Approve ETFs to create a honeypot.
2. Criminalize privacy tools by labeling it ML.
3. Go after self-custody Bitcoin by labeling it black market.
4. Execute 6102 on ETF honeypots.
*all while the price of real BTC pumps really hard and game theory plays out on the global stage.
It is so freaking obvious.
These actions directly incentivize the development of decentralized protocols by anonymous devs. Instead of scaring people, they lit the fire.
"They're going to go after self-custody because they need capital controls to properly execute financial repression. Capital is sufficiently captured in walled-garden ETFs. Widely adopted self-custodial Bitcoin used as an MoE with privacy tools present an existential threat."
Anyway why do we need privacy, why does the world need privacy, and why do we need uncensorable money:
https://journalofdemocracy.org/online-exclusive/how-to-dictator-proof-your-money/
➡️"The State of Ohio has officially introduced a bill to protect 'fundamental Bitcoin rights'.
The right to buy & sell Bitcoin.
The right to mine Bitcoin
The right to run a full node
The right to self-custody your digital assets" - Dennis Porter
➡️ "Morgan Stanley is shifting to enable its 15,000 brokers to recommend Bitcoin ETFs to their clients.
This is a big change from their "if they ask" approach, which is how they've managed ETF allocations thus far." -Thomas Fahrer
➡️BlackRock’s Bitcoin ETF sees its streak of 71 straight days of inflows come to an end, bringing in $0 yesterday. IBIT had the 10th longest streak of inflows in ETF history.
➡️ '$140B Global Retirement Partners has reported exposure to 7 Bitcoin ETFs + 1 Bitcoin mining ETF in SEC filings. GRP has more than 1.6 MILLION retirement accounts.' - Bitcoin Archive
26th of April:
➡️Japanese public company Metaplanet has announced it purchased ¥1b ($6.25m) of Bitcoin, equivalent to ~30% of the company's current market cap.
➡️ BNY Mellon reported owning shares in BlackRock and Grayscale Bitcoin ETFs - SEC filing
America's oldest bank is buying Bitcoin...
💸Traditional Finance / Macro:
👉🏽 no news
🏦Banks:
👉🏽US prepared for the potential failure of a major Wall Street bank, says FDIC.
👉🏽Fed Chair Jerome Powell on Bank Failures (March, 2024):
"I’m sure there will be bank failures, but this is not the big banks."
Last night, the 26th of April, Republic First Bancorp officially collapsed and was seized by regulators.
🌎Macro/Geopolitics:
On the 22nd of April:
'Emerging market countries (excluding China) owe a staggering *$421 billion* of government debt this year
The majority of this is owed to multilateral institutions, foreign creditors, the IMF, and the Paris Club (deferred debt from the IMF, etc)'
You can also call this financial slavery or financial colonialism.
On the 25th of April:
👉🏽'For those who do not understand what just happened:
First, Q1 2024 GDP growth slowed to just 1.6% which is less than HALF of the 3.4% Q4 2023 number.
This reading is roughly 50% BELOW Goldman Sachs's expectations.
But it gets even worse.
At the same time, the US Core PCE Price Index soared from 2.0% to a staggering 3.7%.
This crushed estimates of 3.4% and further suggests that inflation is on the rise.
We have a weakening economy with rising inflation.
The worst possible outcome for the Fed.' - TKL
(Picture 2)
Ergo from "transitory" to "soft landing" to stagflation.
the work product of academics with over 800 PhDs at the Federal Reserve.
I let James Lavish do the talking:
"A Fed nightmare. When GDP (economic activity) slows down, yet prices continue rising (stagflation), and the government refuses to curb reckless deficit spending, this puts the Fed and Treasury in an impossible position that no matter what they do, it will lead to issuing more and more Federal Debt. This leads to the need to monetize the debt with more money printing, inflation surges, rates rise, and we do it all again."
QE Forever!
Now have a look at the following chart posted by Luke Gromen. (Picture 3)
The rest of the world started to wise up back in 2024. (remember the clip by Putin in 2014 saying how the Dollar/the US is a weapon and fucking everything up), moving away from continuing to fund US government spending & stupidity. This trend has intensified after Covid, countries are now parking their savings in Gold and eventually in Bitcoin.
"The Dollar is the emperor walking down the street naked."
Who is buying post-2014 (red line): The Fed, US banks, MMFs, and foreign tax shelters.
👉🏽President Biden proposes a 44.6% capital gains tax, the highest in history.
The proposal also includes a 25% tax on unrealized gains for high-net-worth individuals.
👉🏽'Savings rates in the US fell from 3.5% to 3.2%, the lowest since November 2022, according to Zerohedge.
Over the last year, savings rates have fallen from 5.2% to 3.2%.
All as credit card debt continues to push above a record $1.1 trillion with 25%+ interest rates.
On the 26th of April:
👉🏽 Currently the Yen is imploding. Japan's bonds and currency are crashing again. Now the following thread will give you a great overview and help people to understand why this is important and what is happening. https://twitter.com/peruvian_bull/status/1784020167141318860
The Japanese have lost 6% of their purchasing power in the last 3 weeks.
The Japanese were the first to "experiment" with QE, in their 1989 property crash. The US, then the UK then the EU copied them in 2008-2010 as they had no better ideas. So, the demise of Japan today, we can see happening to the rest of us in 10-15 years... or maybe less.
Read the thread, because it will show you why it is important to self custody your Bitcoin, and why Bitcoin is important.
On the 27th of April:
👉🏽The United States dollar has lost over 25% of its purchasing power since January 2020.
On the 28th of April:
'The US government has issued a whopping $11 TRILLION of debt over the last 4 years.
By comparison, it took the US 220 years to add the first $11 trillion of Federal debt.
Within the next 2 months, total US debt is on track to cross above $35 trillion for the first time in history.
Since June, the US debt has been rising by $1 trillion every 100 days.
If the current pace continues, another $11 trillion will be added in just three years putting us at ~$45 trillion by 2027.' (foto)
Anyway to put it in some perspective, over 75% of U.S National Debt was created after Bitcoin’s 1st block….
(Picture 4)
🎁If you have made it this far I would like to give you a little gift:
A masterclass by Saylor. (16min) This is next level. This is a lesson in financial literacy.
https://twitter.com/bleighky/status/1783551971682640241
TLDR: He is playing chess while everyone else plays checkers.
Full interview: https://youtu.be/bUfVLzNdOyc?feature=shared https://youtu.be/bUfVLzNdOyc?feature=shared
Only invest in Bitcoin what you can’t afford to have gradually stolen from you by the government.
Credit: I have used multiple sources!
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @Relai 🇨🇭 especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It's that simple.⠀⠀⠀⠀⠀⠀⠀⠀
Do you think this post is helpful to you? If so, please share it and support my work with sats.
#zap 🧡 #weeklyrecap #nostr
#plebchain
#BTC
#Bitcoin
#zap🧡
#grownostr
#stacksats
#bitcoineducation
#adoption
'The road to independence and autonomy from all kinds of systems is a journey that needs effort and time on your part. Bitcoin is the same.' -Bitcoin Friday
'Over the last year, the US Government borrowed approximately $99,802 per second.' -James Lavish
🧡Bitcoin news🧡
Before we start I want to share some deep knowledge:
'If, like many of us, you feel a bit taken aback by events of the past week in Bitcoin, you may be wondering about what you can do, practically, to maintain your ability to transact freely and to preserve your privacy.'
Great thread by Freddie New, worth your time: https://twitter.com/freddienew/status/1784218269542498318
22nd of April:
Swiss Bitcoiners to launch a petition for the National Bank to buy Bitcoin for its national reserves.
"By including Bitcoin in its reserves, Switzerland would mark its independence from the European Central Bank. Such a step would strengthen our neutrality."
They need over 100K signatures to trigger the vote. Technically, it's not a petition, but a Popular Initiative, which is quite different. This concise amendment allows the Swiss National Bank flexibility in implementation. The initiative aims to spark a debate about Switzerland's future amid global uncertainties, emphasizing sovereignty and neutrality.
But the Chairman of the Swiss National Bank said the following: "We have not yet decided that we want to invest in Bitcoin.
Currency reserves are international payments:
1. They have to be liquid.
2. They have to be sustainable.
3. And we have to be able to see and buy them." -Bitcoin Archive
➡️In 2023 I have said the following multiple times regarding politicians & Bitcoin: "My personal opinion. Be wary of politicians who promise to give you exactly what you want. Politicians are just politicians! Bitcoin doesn't need politicians, politicians need Bitcoin (and votes). Don't lose the plot. And stop larping! Stay humble & stack sats."
A lot of people on Bitcoin Twitter, telegram, and so on were larping and routing for RFK. jr.
Last week he made the following statement:
“I’m gonna put the entire US budget on blockchain", “Every American can look at every budget item in the entire budget, anytime they want, 24 hours a day.”
“We’re gonna have 300 million eyeballs on our budget!”
This kind of statement reveals he doesn't get any of this, does he? On February 24' he also mentioned that he is buying ETH for his kids. Time to study Bitcoin RFK or is it just another fiat politician like Javier Milei (yes I am still not convinced)? Trying to gather as much support as possible, then crawl back to central bankers if elected.
'If the government wants to publish real-time budgets they can already do this on their websites. The blockchain adds nothing to this. The problem is reporting, not storage. This is no different than saying the government will publish their budget to “the cloud”.'- Yan
➡️Bitcoin may be due for a surge, as the MVRV ratio dips below its 90-day average again.
Historically, this has led to a 67% gain on average.
➡️ 'BlackRock now holds 273,596 Bitcoin worth $18 billion for its spot Bitcoin ETF.
BlackRock's ETF holds 59,350 more bitcoin than MicroStrategy.' - Bitcoin Magazine
➡️ S&P 500 company Raymond James subsidiaries declare holdings of Bitcoin ETF GBTC worth $3m.
Combined AUM $625B.'- Julian Fahrer
Although it is only $3M to me it's a sign, that the institutions are coming.
24th of April:
➡️26+ Bitcoin companies signed a letter to FinCEN against proposed surveillance rules that would seriously harm privacy by effectively prohibiting basic Bitcoin best practices such as not reusing addresses and collaborative Bitcoin transactions. (Picture1)
25th of April:
➡️FBI warns Americans against using non-KYC Bitcoin and crypto money transmitting services.
It's becoming clearer that the U.S., but also here in the EU governments pursue surveillance policies and work to suppress the rights of their citizens to (financial) privacy and financial opportunity. They don't like competition. They don't believe in a real free market.
Remember "KYC is a security hole. Businesses are just bullied/forced by governments to collect customer information. It’s really difficult to secure information in the internet age. Some of the largest and most capitalized companies still get hacked regularly." - Gabor Gurbacs
1. Approve ETFs to create a honeypot.
2. Criminalize privacy tools by labeling it ML.
3. Go after self-custody Bitcoin by labeling it black market.
4. Execute 6102 on ETF honeypots.
*all while the price of real BTC pumps really hard and game theory plays out on the global stage.
It is so freaking obvious.
These actions directly incentivize the development of decentralized protocols by anonymous devs. Instead of scaring people, they lit the fire.
"They're going to go after self-custody because they need capital controls to properly execute financial repression. Capital is sufficiently captured in walled-garden ETFs. Widely adopted self-custodial Bitcoin used as an MoE with privacy tools present an existential threat."
Anyway why do we need privacy, why does the world need privacy, and why do we need uncensorable money:
https://journalofdemocracy.org/online-exclusive/how-to-dictator-proof-your-money/
➡️"The State of Ohio has officially introduced a bill to protect 'fundamental Bitcoin rights'.
The right to buy & sell Bitcoin.
The right to mine Bitcoin
The right to run a full node
The right to self-custody your digital assets" - Dennis Porter
➡️ "Morgan Stanley is shifting to enable its 15,000 brokers to recommend Bitcoin ETFs to their clients.
This is a big change from their "if they ask" approach, which is how they've managed ETF allocations thus far." -Thomas Fahrer
➡️BlackRock’s Bitcoin ETF sees its streak of 71 straight days of inflows come to an end, bringing in $0 yesterday. IBIT had the 10th longest streak of inflows in ETF history.
➡️ '$140B Global Retirement Partners has reported exposure to 7 Bitcoin ETFs + 1 Bitcoin mining ETF in SEC filings. GRP has more than 1.6 MILLION retirement accounts.' - Bitcoin Archive
26th of April:
➡️Japanese public company Metaplanet has announced it purchased ¥1b ($6.25m) of Bitcoin, equivalent to ~30% of the company's current market cap.
➡️ BNY Mellon reported owning shares in BlackRock and Grayscale Bitcoin ETFs - SEC filing
America's oldest bank is buying Bitcoin...
💸Traditional Finance / Macro:
👉🏽 no news
🏦Banks:
👉🏽US prepared for the potential failure of a major Wall Street bank, says FDIC.
👉🏽Fed Chair Jerome Powell on Bank Failures (March, 2024):
"I’m sure there will be bank failures, but this is not the big banks."
Last night, the 26th of April, Republic First Bancorp officially collapsed and was seized by regulators.
🌎Macro/Geopolitics:
On the 22nd of April:
'Emerging market countries (excluding China) owe a staggering *$421 billion* of government debt this year
The majority of this is owed to multilateral institutions, foreign creditors, the IMF, and the Paris Club (deferred debt from the IMF, etc)'
You can also call this financial slavery or financial colonialism.
On the 25th of April:
👉🏽'For those who do not understand what just happened:
First, Q1 2024 GDP growth slowed to just 1.6% which is less than HALF of the 3.4% Q4 2023 number.
This reading is roughly 50% BELOW Goldman Sachs's expectations.
But it gets even worse.
At the same time, the US Core PCE Price Index soared from 2.0% to a staggering 3.7%.
This crushed estimates of 3.4% and further suggests that inflation is on the rise.
We have a weakening economy with rising inflation.
The worst possible outcome for the Fed.' - TKL
(Picture 2)
Ergo from "transitory" to "soft landing" to stagflation.
the work product of academics with over 800 PhDs at the Federal Reserve.
I let James Lavish do the talking:
"A Fed nightmare. When GDP (economic activity) slows down, yet prices continue rising (stagflation), and the government refuses to curb reckless deficit spending, this puts the Fed and Treasury in an impossible position that no matter what they do, it will lead to issuing more and more Federal Debt. This leads to the need to monetize the debt with more money printing, inflation surges, rates rise, and we do it all again."
QE Forever!
Now have a look at the following chart posted by Luke Gromen. (Picture 3)
The rest of the world started to wise up back in 2024. (remember the clip by Putin in 2014 saying how the Dollar/the US is a weapon and fucking everything up), moving away from continuing to fund US government spending & stupidity. This trend has intensified after Covid, countries are now parking their savings in Gold and eventually in Bitcoin.
"The Dollar is the emperor walking down the street naked."
Who is buying post-2014 (red line): The Fed, US banks, MMFs, and foreign tax shelters.
👉🏽President Biden proposes a 44.6% capital gains tax, the highest in history.
The proposal also includes a 25% tax on unrealized gains for high-net-worth individuals.
👉🏽'Savings rates in the US fell from 3.5% to 3.2%, the lowest since November 2022, according to Zerohedge.
Over the last year, savings rates have fallen from 5.2% to 3.2%.
All as credit card debt continues to push above a record $1.1 trillion with 25%+ interest rates.
On the 26th of April:
👉🏽 Currently the Yen is imploding. Japan's bonds and currency are crashing again. Now the following thread will give you a great overview and help people to understand why this is important and what is happening. https://twitter.com/peruvian_bull/status/1784020167141318860
The Japanese have lost 6% of their purchasing power in the last 3 weeks.
The Japanese were the first to "experiment" with QE, in their 1989 property crash. The US, then the UK then the EU copied them in 2008-2010 as they had no better ideas. So, the demise of Japan today, we can see happening to the rest of us in 10-15 years... or maybe less.
Read the thread, because it will show you why it is important to self custody your Bitcoin, and why Bitcoin is important.
On the 27th of April:
👉🏽The United States dollar has lost over 25% of its purchasing power since January 2020.
On the 28th of April:
'The US government has issued a whopping $11 TRILLION of debt over the last 4 years.
By comparison, it took the US 220 years to add the first $11 trillion of Federal debt.
Within the next 2 months, total US debt is on track to cross above $35 trillion for the first time in history.
Since June, the US debt has been rising by $1 trillion every 100 days.
If the current pace continues, another $11 trillion will be added in just three years putting us at ~$45 trillion by 2027.' (foto)
Anyway to put it in some perspective, over 75% of U.S National Debt was created after Bitcoin’s 1st block….
(Picture 4)
🎁If you have made it this far I would like to give you a little gift:
A masterclass by Saylor. (16min) This is next level. This is a lesson in financial literacy.
https://twitter.com/bleighky/status/1783551971682640241
TLDR: He is playing chess while everyone else plays checkers.
Full interview: https://youtu.be/bUfVLzNdOyc?feature=shared https://youtu.be/bUfVLzNdOyc?feature=shared
Only invest in Bitcoin what you can’t afford to have gradually stolen from you by the government.
Credit: I have used multiple sources!
My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @Relai 🇨🇭 especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It's that simple.⠀⠀⠀⠀⠀⠀⠀⠀
Do you think this post is helpful to you? If so, please share it and support my work with sats.
#zap 🧡 #weeklyrecap #nostr
#plebchain
#BTC
#Bitcoin
#zap🧡
#grownostr
#stacksats
#bitcoineducation
#adoption