Ecoer Logo
VOTING POWER100.00%
DOWNVOTE POWER100.00%
RESOURCE CREDITS100.00%
REPUTATION PROGRESS0.00%
Net Worth
17.307USD
HIVE
14.450HIVE
HBD
5.780HBD
Own HP
14.367HP

Detailed Balance

HIVE
balance
14.450HIVE
market_balance
0.000HIVE
savings_balance
0.000HIVE
reward_hive_balance
0.000HIVE
HIVE POWER
Own HP
14.367HP
Delegated Out
0.000HP
Delegation In
0.000HP
Effective Power
14.367HP
Reward HP (pending)
0.000HP
HBD
hbd_balance
5.780HBD
hbd_conversions
0.000HBD
hbd_market_balance
0.000HBD
savings_hbd_balance
0.000HBD
reward_hbd_balance
0.000HBD
{
  "balance": "14.450 HIVE",
  "savings_balance": "0.000 HIVE",
  "reward_hive_balance": "0.000 HIVE",
  "vesting_shares": "23321.106718 VESTS",
  "delegated_vesting_shares": "0.000000 VESTS",
  "received_vesting_shares": "0.000000 VESTS",
  "hbd_balance": "5.780 HBD",
  "savings_hbd_balance": "0.000 HBD",
  "reward_hbd_balance": "0.000 HBD"
}

Account Info

nameandyhoffman
id175025
rank0
reputation0
created2017-06-03T03:11:27
recovery_accountsteem
proxyNone
invited_bynull
post_count1,250
comment_count0
lifetime_vote_count0
witnesses_voted_for0
last_post2022-05-08T17:50:36
last_root_post2022-05-08T17:50:36
last_vote_time2022-05-08T17:50:51
proxied_vsf_votes0, 0, 0, 0
can_vote1
voting_power0
delayed_votesNone
governance_vote_expiration_ts1969-12-31T23:59:59
balance14.450 HIVE
savings_balance0.000 HIVE
hbd_balance5.780 HBD
savings_hbd_balance0.000 HBD
vesting_shares23321.106718 VESTS
delegated_vesting_shares0.000000 VESTS
received_vesting_shares0.000000 VESTS
reward_vesting_balance0.000000 VESTS
vesting_balance0.000 HIVE
vesting_withdraw_rate0.000000 VESTS
next_vesting_withdrawal1969-12-31T23:59:59
withdrawn0
to_withdraw0
withdraw_routes0
savings_withdraw_requests0
last_account_recovery1970-01-01T00:00:00
reset_accountnull
last_owner_update1970-01-01T00:00:00
last_account_update2018-08-07T00:09:54
minedNo
hbd_seconds0
hbd_last_interest_payment2020-05-13T12:25:48
savings_hbd_last_interest_payment2018-02-14T16:55:12
{
  "id": 175025,
  "name": "andyhoffman",
  "owner": {
    "weight_threshold": 1,
    "account_auths": [],
    "key_auths": [
      [
        "STM7margqeQ7ipytnbEZpJwWtEzLeSkBCYY2uWPPc4e41CcmgmhoJ",
        1
      ]
    ]
  },
  "active": {
    "weight_threshold": 1,
    "account_auths": [],
    "key_auths": [
      [
        "STM89io2XAvpPNP5inYB1R3yBv7SQHHv1nFgpKRkTjXj87fpFw3K4",
        1
      ]
    ]
  },
  "posting": {
    "weight_threshold": 1,
    "account_auths": [
      [
        "dlive.app",
        1
      ]
    ],
    "key_auths": [
      [
        "STM7J67cwxERXcLdg97FMeFqrfr9iBJLuLygFnQz19MAaxVbS5ien",
        1
      ]
    ]
  },
  "memo_key": "STM5wZFAeXDzGaBFnzRwNA5raiswYLigvUjBzD5oJxBanVPtF3BZp",
  "json_metadata": "{\"profile\":{\"name\":\"Andy Hoffman\",\"location\":\"USA\",\"website\":\"https://cryptogoldcentral.com/\"}}",
  "posting_json_metadata": "{\"profile\":{\"name\":\"Andy Hoffman\",\"location\":\"USA\",\"website\":\"https://cryptogoldcentral.com/\"}}",
  "proxy": "",
  "previous_owner_update": "1970-01-01T00:00:00",
  "last_owner_update": "1970-01-01T00:00:00",
  "last_account_update": "2018-08-07T00:09:54",
  "created": "2017-06-03T03:11:27",
  "mined": false,
  "recovery_account": "steem",
  "last_account_recovery": "1970-01-01T00:00:00",
  "reset_account": "null",
  "comment_count": 0,
  "lifetime_vote_count": 0,
  "post_count": 1250,
  "can_vote": true,
  "voting_manabar": {
    "current_mana": 23321106718,
    "last_update_time": 1656816168
  },
  "downvote_manabar": {
    "current_mana": 5830276679,
    "last_update_time": 1656816168
  },
  "voting_power": 0,
  "balance": "14.450 HIVE",
  "savings_balance": "0.000 HIVE",
  "hbd_balance": "5.780 HBD",
  "hbd_seconds": "0",
  "hbd_seconds_last_update": "2020-05-13T12:25:48",
  "hbd_last_interest_payment": "2020-05-13T12:25:48",
  "savings_hbd_balance": "0.000 HBD",
  "savings_hbd_seconds": "0",
  "savings_hbd_seconds_last_update": "2018-02-14T16:55:12",
  "savings_hbd_last_interest_payment": "2018-02-14T16:55:12",
  "savings_withdraw_requests": 0,
  "reward_hbd_balance": "0.000 HBD",
  "reward_hive_balance": "0.000 HIVE",
  "reward_vesting_balance": "0.000000 VESTS",
  "reward_vesting_hive": "0.000 HIVE",
  "vesting_shares": "23321.106718 VESTS",
  "delegated_vesting_shares": "0.000000 VESTS",
  "received_vesting_shares": "0.000000 VESTS",
  "vesting_withdraw_rate": "0.000000 VESTS",
  "post_voting_power": "23321.106718 VESTS",
  "next_vesting_withdrawal": "1969-12-31T23:59:59",
  "withdrawn": 0,
  "to_withdraw": 0,
  "withdraw_routes": 0,
  "pending_transfers": 0,
  "curation_rewards": 163,
  "posting_rewards": 1190089,
  "proxied_vsf_votes": [
    0,
    0,
    0,
    0
  ],
  "witnesses_voted_for": 0,
  "last_post": "2022-05-08T17:50:36",
  "last_root_post": "2022-05-08T17:50:36",
  "last_vote_time": "2022-05-08T17:50:51",
  "post_bandwidth": 0,
  "pending_claimed_accounts": 0,
  "governance_vote_expiration_ts": "1969-12-31T23:59:59",
  "delayed_votes": [],
  "open_recurrent_transfers": 0,
  "vesting_balance": "0.000 HIVE",
  "reputation": 0,
  "transfer_history": [],
  "market_history": [],
  "post_history": [],
  "vote_history": [],
  "other_history": [],
  "witness_votes": [],
  "tags_usage": [],
  "guest_bloggers": [],
  "rank": 0
}

Withdraw Routes

IncomingOutgoing
Empty
Empty
{
  "incoming": [],
  "outgoing": []
}
From Date
To Date
hivesurveysent 0.001 HIVE to @andyhoffman- "By spending just 5-10 minutes of your time to answer an ONLINE SURVEY, you'll receive $1 worth of HIVE or STEEM (4.762 STEEM or 3.125 HIVE) as a token of our appreciation!!! Hello there! I'm Sichen DO..."
2023/10/27 18:04:48
amount0.001 HIVE
fromhivesurvey
memoBy spending just 5-10 minutes of your time to answer an ONLINE SURVEY, you'll receive $1 worth of HIVE or STEEM (4.762 STEEM or 3.125 HIVE) as a token of our appreciation!!! Hello there! I'm Sichen DONG, a research postgraduate student at the University of Hong Kong. I'm currently organizing a paid survey as part of my research study. We kindly invite Steem/Hive members to participate in a survey that focuses on the social changes you've observed since the takeover of Steemit, Inc. by Tron on February 14, 2020. We're delving into the intriguing realm of decentralized autonomous organizations (DAOs) and exploring the impact of social norms on cooperation within these communities. Please note that the survey is conducted in English. Rest assured, your participation involves no more risk than your everyday activities. You retain the freedom to withdraw from the study at any point. Your support is invaluable to our research, and we're eagerly looking forward to your participation! Ready to dive in? Access the survey via this link: https://hivesurvey.vercel.app/
toandyhoffman
Transaction InfoBlock #79642810/Trx 30ea9dc470723623bbcd205e83cae90aa294c77b
View Raw JSON Data
{
  "block": 79642810,
  "op": [
    "transfer",
    {
      "amount": "0.001 HIVE",
      "from": "hivesurvey",
      "memo": "By spending just 5-10 minutes of your time to answer an ONLINE SURVEY, you'll receive $1 worth of HIVE or STEEM (4.762 STEEM or 3.125 HIVE) as a token of our appreciation!!! Hello there! I'm Sichen DONG, a research postgraduate student at the University of Hong Kong. I'm currently organizing a paid survey as part of my research study. We kindly invite Steem/Hive members to participate in a survey that focuses on the social changes you've observed since the takeover of Steemit, Inc. by Tron on February 14, 2020. We're delving into the intriguing realm of decentralized autonomous organizations (DAOs) and exploring the impact of social norms on cooperation within these communities. Please note that the survey is conducted in English. Rest assured, your participation involves no more risk than your everyday activities. You retain the freedom to withdraw from the study at any point. Your support is invaluable to our research, and we're eagerly looking forward to your participation! Ready to dive in? Access the survey via this link: https://hivesurvey.vercel.app/",
      "to": "andyhoffman"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2023-10-27T18:04:48",
  "trx_id": "30ea9dc470723623bbcd205e83cae90aa294c77b",
  "trx_in_block": 20,
  "virtual_op": false
}
andyhoffmanclaimed reward balance: 0.176 HBD, 0.423 HP
2022/07/03 02:42:51
accountandyhoffman
reward hbd0.176 HBD
reward hive0.000 HIVE
reward vests686.451366 VESTS
Transaction InfoBlock #65792167/Trx f7b81d375cf006eb29e71b1360b82fd8e9e43371
View Raw JSON Data
{
  "block": 65792167,
  "op": [
    "claim_reward_balance",
    {
      "account": "andyhoffman",
      "reward_hbd": "0.176 HBD",
      "reward_hive": "0.000 HIVE",
      "reward_vests": "686.451366 VESTS"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2022-07-03T02:42:51",
  "trx_id": "f7b81d375cf006eb29e71b1360b82fd8e9e43371",
  "trx_in_block": 52,
  "virtual_op": false
}
2022/06/30 01:21:42
authorandyhoffman
body;
json metadata{"tags":["bitcoin","airdrop","cryptocurrency","monero"],"app":"hiveblog/0.1","format":"markdown","description":"["}
parent author
parent permlinkrhombus
permlink12-04-20-andy-hoffman-cryptogoldcentral-com-free-airdrop-to-btc-holders-this-month-rhombus-a-proof-of-stake-low-inflation-cold
titlep
Transaction InfoBlock #65704290/Trx 873771d0f1ffa382f3454cb939a852dcc6b39534
View Raw JSON Data
{
  "block": 65704290,
  "op": [
    "comment",
    {
      "author": "andyhoffman",
      "body": ";",
      "json_metadata": "{\"tags\":[\"bitcoin\",\"airdrop\",\"cryptocurrency\",\"monero\"],\"app\":\"hiveblog/0.1\",\"format\":\"markdown\",\"description\":\"[\"}",
      "parent_author": "",
      "parent_permlink": "rhombus",
      "permlink": "12-04-20-andy-hoffman-cryptogoldcentral-com-free-airdrop-to-btc-holders-this-month-rhombus-a-proof-of-stake-low-inflation-cold",
      "title": "p"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2022-06-30T01:21:42",
  "trx_id": "873771d0f1ffa382f3454cb939a852dcc6b39534",
  "trx_in_block": 55,
  "virtual_op": false
}
2022/06/03 03:48:27
authorhivebuzz
bodyCongratulations @andyhoffman! You received a personal badge! <table><tr><td>https://images.hive.blog/70x70/http://hivebuzz.me/badges/birthday-5.png</td><td>Happy Hive Birthday! You are on the Hive blockchain for 5 years!</td></tr></table> <sub>_You can view your badges on [your board](https://hivebuzz.me/@andyhoffman) and compare yourself to others in the [Ranking](https://hivebuzz.me/ranking)_</sub> **Check out the last post from @hivebuzz:** <table><tr><td><a href="/hive-122221/@hivebuzz/pud-202206-feedback"><img src="https://images.hive.blog/64x128/https://i.imgur.com/zHjYI1k.jpg"></a></td><td><a href="/hive-122221/@hivebuzz/pud-202206-feedback">Feedback from the June 1st Hive Power Up Day</a></td></tr><tr><td><a href="/hive-122221/@hivebuzz/pum-202206"><img src="https://images.hive.blog/64x128/https://i.imgur.com/M9RD8KS.png"></a></td><td><a href="/hive-122221/@hivebuzz/pum-202206">Be ready for the 6th edition of the Hive Power Up Month!</a></td></tr></table> ###### Support the HiveBuzz project. [Vote](https://hivesigner.com/sign/update_proposal_votes?proposal_ids=%5B%22199%22%5D&approve=true) for [our proposal](https://peakd.com/me/proposals/199)!
json metadata{"image":["http://hivebuzz.me/notify.t6.png"]}
parent authorandyhoffman
parent permlinkmy-current-views-of-the-bitcoin-market
permlinknotify-andyhoffman-20220603t034823
title
Transaction InfoBlock #64931490/Trx a49f22c84fc74bb34df84871dfc8048375ef987d
View Raw JSON Data
{
  "block": 64931490,
  "op": [
    "comment",
    {
      "author": "hivebuzz",
      "body": "Congratulations @andyhoffman! You received a personal badge!\n\n<table><tr><td>https://images.hive.blog/70x70/http://hivebuzz.me/badges/birthday-5.png</td><td>Happy Hive Birthday! You are on the Hive blockchain for 5 years!</td></tr></table>\n\n<sub>_You can view your badges on [your board](https://hivebuzz.me/@andyhoffman) and compare yourself to others in the [Ranking](https://hivebuzz.me/ranking)_</sub>\n\n\n**Check out the last post from @hivebuzz:**\n<table><tr><td><a href=\"/hive-122221/@hivebuzz/pud-202206-feedback\"><img src=\"https://images.hive.blog/64x128/https://i.imgur.com/zHjYI1k.jpg\"></a></td><td><a href=\"/hive-122221/@hivebuzz/pud-202206-feedback\">Feedback from the June 1st Hive Power Up Day</a></td></tr><tr><td><a href=\"/hive-122221/@hivebuzz/pum-202206\"><img src=\"https://images.hive.blog/64x128/https://i.imgur.com/M9RD8KS.png\"></a></td><td><a href=\"/hive-122221/@hivebuzz/pum-202206\">Be ready for the 6th edition of the Hive Power Up Month!</a></td></tr></table>\n\n###### Support the HiveBuzz project. [Vote](https://hivesigner.com/sign/update_proposal_votes?proposal_ids=%5B%22199%22%5D&approve=true) for [our proposal](https://peakd.com/me/proposals/199)!",
      "json_metadata": "{\"image\":[\"http://hivebuzz.me/notify.t6.png\"]}",
      "parent_author": "andyhoffman",
      "parent_permlink": "my-current-views-of-the-bitcoin-market",
      "permlink": "notify-andyhoffman-20220603t034823",
      "title": ""
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2022-06-03T03:48:27",
  "trx_id": "a49f22c84fc74bb34df84871dfc8048375ef987d",
  "trx_in_block": 21,
  "virtual_op": false
}
imwatsisent 0.001 HBD to @andyhoffman- "Please consider supporting my DHF proposal. I am working on HAF tools that will bring valuable features to Hive. Thank you >> Proposal 219 >> https://peakd.com/proposals/219"
2022/05/20 12:27:39
amount0.001 HBD
fromimwatsi
memoPlease consider supporting my DHF proposal. I am working on HAF tools that will bring valuable features to Hive. Thank you >> Proposal 219 >> https://peakd.com/proposals/219
toandyhoffman
Transaction InfoBlock #64539403/Trx 6a98f34200b8dd8e79338d7b1303eb4d876af5f0
View Raw JSON Data
{
  "block": 64539403,
  "op": [
    "transfer",
    {
      "amount": "0.001 HBD",
      "from": "imwatsi",
      "memo": "Please consider supporting my DHF proposal. I am working on HAF tools that will bring valuable features to Hive. Thank you     >>   Proposal 219   >>   https://peakd.com/proposals/219",
      "to": "andyhoffman"
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2022-05-20T12:27:39",
  "trx_id": "6a98f34200b8dd8e79338d7b1303eb4d876af5f0",
  "trx_in_block": 89,
  "virtual_op": false
}
2022/05/15 17:50:36
authorandyhoffman
permlinkmy-current-views-of-the-bitcoin-market
Transaction InfoBlock #64402108/Virtual Operation 4294967295:6
View Raw JSON Data
{
  "block": 64402108,
  "op": [
    "comment_payout_update",
    {
      "author": "andyhoffman",
      "permlink": "my-current-views-of-the-bitcoin-market"
    }
  ],
  "op_in_trx": 6,
  "timestamp": "2022-05-15T17:50:36",
  "trx_id": "0000000000000000000000000000000000000000",
  "trx_in_block": 4294967295,
  "virtual_op": true
}
andyhoffmanreceived 0.705 HBD reward share for my-current-views-of-the-bitcoin-market
2022/05/15 17:50:36
authorandyhoffman
author rewards750
beneficiary payout value0.000 HBD
curator payout value0.352 HBD
payout0.705 HBD
permlinkmy-current-views-of-the-bitcoin-market
total payout value0.352 HBD
Transaction InfoBlock #64402108/Virtual Operation 4294967295:5
View Raw JSON Data
{
  "block": 64402108,
  "op": [
    "comment_reward",
    {
      "author": "andyhoffman",
      "author_rewards": 750,
      "beneficiary_payout_value": "0.000 HBD",
      "curator_payout_value": "0.352 HBD",
      "payout": "0.705 HBD",
      "permlink": "my-current-views-of-the-bitcoin-market",
      "total_payout_value": "0.352 HBD"
    }
  ],
  "op_in_trx": 5,
  "timestamp": "2022-05-15T17:50:36",
  "trx_id": "0000000000000000000000000000000000000000",
  "trx_in_block": 4294967295,
  "virtual_op": true
}
andyhoffmanreceived 0.176 HBD, 0.423 HP author reward for @andyhoffman / my-current-views-of-the-bitcoin-market
2022/05/15 17:50:36
authorandyhoffman
curators vesting payout1369.241659 VESTS
hbd payout0.176 HBD
hive payout0.000 HIVE
payout must be claimedtrue
permlinkmy-current-views-of-the-bitcoin-market
vesting payout686.451366 VESTS
Transaction InfoBlock #64402108/Virtual Operation 4294967295:4
View Raw JSON Data
{
  "block": 64402108,
  "op": [
    "author_reward",
    {
      "author": "andyhoffman",
      "curators_vesting_payout": "1369.241659 VESTS",
      "hbd_payout": "0.176 HBD",
      "hive_payout": "0.000 HIVE",
      "payout_must_be_claimed": true,
      "permlink": "my-current-views-of-the-bitcoin-market",
      "vesting_payout": "686.451366 VESTS"
    }
  ],
  "op_in_trx": 4,
  "timestamp": "2022-05-15T17:50:36",
  "trx_id": "0000000000000000000000000000000000000000",
  "trx_in_block": 4294967295,
  "virtual_op": true
}
2022/05/11 11:03:45
authorandyhoffman
pending payout0.962 HBD
permlinkmy-current-views-of-the-bitcoin-market
rshares1140993369902
total vote weight581858344474
voterzuerich
weight570496684951
Transaction InfoBlock #64279054/Trx 5cca2a0862cd7a28e502c6e5c0452e55b105cc89
View Raw JSON Data
{
  "block": 64279054,
  "op": [
    "effective_comment_vote",
    {
      "author": "andyhoffman",
      "pending_payout": "0.962 HBD",
      "permlink": "my-current-views-of-the-bitcoin-market",
      "rshares": 1140993369902,
      "total_vote_weight": 581858344474,
      "voter": "zuerich",
      "weight": 570496684951
    }
  ],
  "op_in_trx": 1,
  "timestamp": "2022-05-11T11:03:45",
  "trx_id": "5cca2a0862cd7a28e502c6e5c0452e55b105cc89",
  "trx_in_block": 23,
  "virtual_op": true
}
2022/05/11 11:03:45
authorandyhoffman
permlinkmy-current-views-of-the-bitcoin-market
voterzuerich
weight2000 (20.00%)
Transaction InfoBlock #64279054/Trx 5cca2a0862cd7a28e502c6e5c0452e55b105cc89
View Raw JSON Data
{
  "block": 64279054,
  "op": [
    "vote",
    {
      "author": "andyhoffman",
      "permlink": "my-current-views-of-the-bitcoin-market",
      "voter": "zuerich",
      "weight": 2000
    }
  ],
  "op_in_trx": 0,
  "timestamp": "2022-05-11T11:03:45",
  "trx_id": "5cca2a0862cd7a28e502c6e5c0452e55b105cc89",
  "trx_in_block": 23,
  "virtual_op": false
}
2022/05/10 05:30:33
authorandyhoffman
pending payout0.010 HBD
permlinkmy-current-views-of-the-bitcoin-market
rshares1099858964
total vote weight11361659523
voterbitcoinmeister
weight549929482
Transaction InfoBlock #64243682/Trx c65dd36439f2d1dac8c71f5b477cfd4e29b8d4b0
View Raw JSON Data
{
  "block": 64243682,
  "op": [
    "effective_comment_vote",
    {
      "author": "andyhoffman",
      "pending_payout": "0.010 HBD",
      "permlink": "my-current-views-of-the-bitcoin-market",
      "rshares": 1099858964,
      "total_vote_weight": 11361659523,
      "voter": "bitcoinmeister",
      "weight": 549929482
    }
  ],
  "op_in_trx": 1,
  "timestamp": "2022-05-10T05:30:33",
  "trx_id": "c65dd36439f2d1dac8c71f5b477cfd4e29b8d4b0",
  "trx_in_block": 46,
  "virtual_op": true
}
2022/05/10 05:30:33
authorandyhoffman
permlinkmy-current-views-of-the-bitcoin-market
voterbitcoinmeister
weight10000 (100.00%)
Transaction InfoBlock #64243682/Trx c65dd36439f2d1dac8c71f5b477cfd4e29b8d4b0
View Raw JSON Data
{
  "block": 64243682,
  "op": [
    "vote",
    {
      "author": "andyhoffman",
      "permlink": "my-current-views-of-the-bitcoin-market",
      "voter": "bitcoinmeister",
      "weight": 10000
    }
  ],
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authorandyhoffman
bodyOver a 33 year career in financial markets, I have witnessed historical inflection points in the global social, political, and economic landscape – which, care of the most destructive, self-serving monetary policy ever, has doomed the world to unprecedented inflation; unrest; and ultimately, transformation. I first sensed something was wrong in 2002, when I went all-in Precious Metals – spending the ensuing 15 years forecasting a doomsday scenario in which history’s largest, most destructive fiat Ponzi would spectacularly implode. When the system broke in 2008, it was a fait accompli such a scenario was ensured…it was just a matter of time before TPTB’s only remaining weapons – money printing, market manipulation, and propaganda (rigged CPIs, etc) would completely fail. When I first found Bitcoin in 2013, it took time to be convinced, but in 2016 I was sold…going “all in” in mid-2017, when I sold the last of my PMs for BTC. I still believed a worst-case political, social, and monetary outcome was likely, but finally had hope that the future beyond could be bright. That said, when BTC entered its second post-halving downturn (in early 2018, like early 2014), I was fearful of a worst-case Bitcoin scenario – as not only was it still small, but so much about its future was unclear. Yes, it had its detractors and enemies (JP Morgan, the Chinese government, etc), but the biggest risks then were WITHIN the crypto community - like Roger Ver, Fake-toshi, and others who claimed the ability to destroy or damage Bitcoin. Those were really trying times, and how I escaped them with more BTC than I started with is the craziest, and luckiest, episode of my career. Anyone who was around in 2016-18 (not to mention, much of 2019 and, of course, the March 2020 COVID crash), EARNED the cheap BTC they have, as it was indeed a terrifying time to HODL. Bitcoin FUD was the worst I have ever seen, for any asset, any time. Fast forward to 2022, amidst the third halving cycle downturn – which time around, is occurring amidst Bitcoin’s best ever fundamentals, as well as a macroeconomic backdrop that couldn’t be more conducive to Bitcoin adoption. In other words, there is no longer ANY fundamental issues to fear – so much so, that “FUD” per se has been permanently destroyed. To wit, it couldn’t be clearer that there will NEVER be a challenger to Bitcoin’s monetary dominance, and NOTHING can stop its exponential growth path. Whether it becomes THE world’s reserve currency has yet to be decided (I believe it will) – but as a monetary store of value, amidst the inevitable, perhaps imminent destruction of the fiat regime, the likelihood BTC will NOT rise dramatically is slim to none. However… Sadly, despite all Bitcoin has accomplished; from destroying all internal threats, achieving an ATH hash rate (this month!), achieving respectability, and acceptability, from a material percentage of the global investment community; materially upgrading its technology; proving its worth amidst the worst financial crisis of our lifetimes; and achieving its highest-ever level of long-term HODLing; it has not yet reached “escape velocity” from a price and adoption standpoint. This will come in time – likely, after the next halving…but for now, it appears extremely unlikely that Bitcoin will be able to overcome the (increasingly virulent and sophisticated) external attacks against it; until, in my opinion, the great equalizer of the next halving enables it to resume its historically cyclical bull market trend. Yes, there are countless events that could reverse the negativity; resume the bull market; and even reach Max Keiser’s year-end target of $220,000. However, the realism that has guided my financial career; and observation of hideous, 24/7 BTC price suppression (on a par with Precious Metals) tells me the odds are against it. In my view, what we are witnessing today is the “final battle” for global monetary leadership…between the Centralized “powers that be” and the Decentralized BTC network. Not “crypto,” but Bitcoin – as the way I see it, essentially all altcoins are scams, with no chance of having a material, sustainable use case. Which, I might add, goes as much for Ethereum as any other coin – which, the way I see it, has only one true “use”…to promulgate as many scams and speculations as possible, from “DeFi” to NFTs to yield farming and the Metaverse. In the big picture, the “final battle” is about Bitcoin’s myriad, powerful enemies waging all-out war, in a last ditch attempt to discredit and destroy it. They will ultimately fail, but right now, I see little evidence that failure is imminent. Fortunately, their fiat Ponzi is failing right before our eyes – so I fully expect their complex BTC suppression scheme to fail around the time of the next halving. Some of their weapons are obvious – like the algos that have smothered BTC trading for nearly two years, tying its every tick to Ethereum whilst NEVER allowing it to rise against ETH. Of course, you’d never know it if following ANYONE but me – as to date, not a single other person has even recognized, let alone commented on, the biggest pink elephant in market manipulation history…which sadly, has only grown larger, and pinker, with each passing day. Heck, we are now actually seeing Bitcoin fall against ETH during major crypto crashes, which was in the past the ONLY time BTC was allowed to rise against ETH. Or agencies like the SEC, who approve “futures ETFs” to attack BTC just as “paper gold” derivatives have to Precious Metals for the past 50 years…but not spot ETFs, in the name of “protecting” investors. Or governments, like China (or New York!) banning Bitcoin mining; or the IMF, extorting indebted nations like Argentina who embrace Bitcoin; or mercilessly attacking those, like El Salvador, who threatened Bitcoin standards. However, they are not the only ones to blame – as unlike last time around, when crypto community members attempted to attack and usurp Bitcoin, this time around these wolves in sheep’s clothing are using BTC’s success to siphon unsophisticated capital into increasingly sophisticated altcoin scams. To that end, I blame self-aggrandizing “Venture Capitalists” as much as vengeful governments for the historic destruction of crypto wealth we are witnessing today – in pumping and dumping thousands of useless coins and schemes that have steered tens of millions of unsophisticated investors away from Bitcoin, into an endless pit of irreversible losses. Either way, the combined effect of these attacks on Bitcoin’s crypto sovereignty have weakened its momentum dramatically (despite said record on-chain HODLing from its faithful, but still small community). When it comes to global Bitcoin adoption, price appreciation is THE only factor that matters. Anyone who says otherwise doesn’t understand the simple fact that the promise of wealth is why people are attracted to it; whilst market cap growth versus other assets – like stocks, bonds, and fiat currencies – is what gives it its strength. The fact that Bitcoin’s technology is unprecedentedly powerful – in terms of unconfiscatability, transaction speed, and privacy – is inconsequential, as what 99% of investors want, and 100% of governments fear most; is an asset so strong, it draws capital, and POWER, from preferred, and controllable, assets. BTC is indeed NGU technology. However, the PACE it rises is not yet determined – and for now every possible effort is being made to delay it. The way I see it, the Bitcoin price is under attack like no other asset in history…other than gold, which in my view, the powers that be may be allowing to (SLOWLY!) rise whilst it attacks BTC, to prevent the masses from seeing Bitcoin for what it truly is; i.e., the NEW store of value king. Bitcoin HODLing has never been stronger, as measured by the percent of supply held for more than a year…and no matter how low the price goes, I expect this statistic to remain stable…or perhaps, rise further given the increasingly wealthy and knowledgeable strong hands who own it. However, prices are set at the margin – and when futures markets, BTC algos, and other dirty tricks are used to suppress it; now, with the “cover” of dramatically deleveraging financial markets, amidst what has typically been the weakest point of BTC’s halving cycle; it is entirely possible that the massive support at $30k is broken, yielding a cascade of non-fundamental, stop-loss driven selling. To that end, if you think MSTR’s 129,000 BTC position - at a cost of, wait for it, $30k, is NOT being targeted, I have a bridge in Brooklyn to sell you. Or, for that matter, the SELF-INFLICTED gunshot from the massively overhyped, overrated Elon Musk (except for his cars – which like Netflix, will ultimately be commoditized)…who not only put the entire TSLA shareholder base in harm’s way with his asinine, ego-driven decision to buy an inconsequential social media platform, but his own net worth by leveraging his TSLA shares to do so. Yes, TSLA’s 43,000 BTC position will now be targeted, too, thanks to the most hubristic corporate act I have ever seen – and it’s entirely Elon’s own fault. And then there's Terra, ticker LUNA - which used other people's money to buy a massive position in BTC, with a supposedly "decentralized" reserve structure in which a stablecoin "peg" is somehow maintained to Tether (assuming I read this correctly). I have NO IDEA what this actually means, but it sounds ugly and stupid - and apparently, the market is assuming it may be a Ponzi ready to collapse. If so, does the BTC get sold, or stolen, or what? I have no idea, but I do know that, as is the case with 99.9% of "crypto projects," the long run result is...just hold BTC, and stop trying to "make money" off it, especially on shady or stupid schemes. Which, in this case, may well lead to yet another major buy opportunity for the whales waiting to scoop up force-sold BTC from idiots. As for GBTC’s 25% discount to net asset value, that is something that in my view, is very meaningful. In more than three decades of watching markets, and owning or analyzing closed-end funds, I cannot recall one EVER trading this far below NAV – particularly one like GBTC, which offers the only way for most institutions to own Bitcoin in a market where criminal entities like the SEC and CFTC spend 24/7 finding new ways to prevent physical BTC ownership, whilst exponentially expanding the BTC derivatives market. In my view, the market may be discounting the possibility of GBTC being confiscated by the government – though admittedly, this is still just a wild speculation…which if attempted, could just as easily catastrophically backfire. Either way, it clearly is portending something ugly, though other than the aforementioned wild speculation, I cannot yet understand what. The point being, that as much as I’d love to see Bitcoin buck its historical trend of collapsing two years after the halving – for various “reasons,” none of which have any chance of stopping, or even slowing Bitcoin’s long-term trajectory – the odds clearly favor significant downside from here, particularly if/when the $30k major support level is broken. The good news, of course, is that it is highly unlikely that the remaining available supply wouldn’t be hoovered up long before the major, MAJOR support level of $20k (i.e., the high of the last halving cycle)…particularly because said fundamentals will without question, exponentially improve as we move toward the March 2024 halving. I was REALLY hoping this cycle would be different; but the fact is, quite clearly, Bitcoin is under siege by powerful forces desperate to destroy it – and since they can’t stop the network, they have “concentrated all firepower” on suppressing the price, for as long as humanly possible. I have zero doubt that new ATH’s will occur after the 2024 halving – but unfortunately, I have extremely low confidence in Bitcoin’s near-term outlook. Fortunately, my stack is as secure and unconfiscatable as possible, so I’ll just wait it out, until the next halving cycle begins. HOPEFULLY, sooner rather than later.
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      "body": "Over a 33 year career in financial markets, I have witnessed historical inflection points in the global social, political, and economic landscape – which, care of the most destructive, self-serving monetary policy ever, has doomed the world to unprecedented inflation; unrest; and ultimately, transformation.\n\nI first sensed something was wrong in 2002, when I went all-in Precious Metals – spending the ensuing 15 years forecasting a doomsday scenario in which history’s largest, most destructive fiat Ponzi would spectacularly implode. When the system broke in 2008, it was a fait accompli such a scenario was ensured…it was just a matter of time before TPTB’s only remaining weapons – money printing, market manipulation, and propaganda (rigged CPIs, etc) would completely fail.\n\nWhen I first found Bitcoin in 2013, it took time to be convinced, but in 2016 I was sold…going “all in” in mid-2017, when I sold the last of my PMs for BTC. I still believed a worst-case political, social, and monetary outcome was likely, but finally had hope that the future beyond could be bright.\n\nThat said, when BTC entered its second post-halving downturn (in early 2018, like early 2014), I was fearful of a worst-case Bitcoin scenario – as not only was it still small, but so much about its future was unclear. Yes, it had its detractors and enemies (JP Morgan, the Chinese government, etc), but the biggest risks then were WITHIN the crypto community - like Roger Ver, Fake-toshi, and others who claimed the ability to destroy or damage Bitcoin.\n\nThose were really trying times, and how I escaped them with more BTC than I started with is the craziest, and luckiest, episode of my career. Anyone who was around in 2016-18 (not to mention, much of 2019 and, of course, the March 2020 COVID crash), EARNED the cheap BTC they have, as it was indeed a terrifying time to HODL. Bitcoin FUD was the worst I have ever seen, for any asset, any time.\n\nFast forward to 2022, amidst the third halving cycle downturn – which time around, is occurring amidst Bitcoin’s best ever fundamentals, as well as a macroeconomic backdrop that couldn’t be more conducive to Bitcoin adoption. In other words, there is no longer ANY fundamental issues to fear – so much so, that “FUD” per se has been permanently destroyed.\n\nTo wit, it couldn’t be clearer that there will NEVER be a challenger to Bitcoin’s monetary dominance, and NOTHING can stop its exponential growth path. Whether it becomes THE world’s reserve currency has yet to be decided (I believe it will) – but as a monetary store of value, amidst the inevitable, perhaps imminent destruction of the fiat regime, the likelihood BTC will NOT rise dramatically is slim to none.\n\nHowever…\n\nSadly, despite all Bitcoin has accomplished; from destroying all internal threats, achieving an ATH hash rate (this month!), achieving respectability, and acceptability, from a material percentage of the global investment community; materially upgrading its technology; proving its worth amidst the worst financial crisis of our lifetimes; and achieving its highest-ever level of long-term HODLing; it has not yet reached “escape velocity” from a price and adoption standpoint. \n\nThis will come in time – likely, after the next halving…but for now, it appears extremely unlikely that Bitcoin will be able to overcome the (increasingly virulent and sophisticated) external attacks against it; until, in my opinion, the great equalizer of the next halving enables it to resume its historically cyclical bull market trend.\n\nYes, there are countless events that could reverse the negativity; resume the bull market; and even reach Max Keiser’s year-end target of $220,000. However, the realism that has guided my financial career; and observation of hideous, 24/7 BTC price suppression (on a par with Precious Metals) tells me the odds are against it.\n\nIn my view, what we are witnessing today is the “final battle” for global monetary leadership…between the Centralized “powers that be” and the Decentralized BTC network. \n\nNot “crypto,” but Bitcoin – as the way I see it, essentially all altcoins are scams, with no chance of having a material, sustainable use case. Which, I might add, goes as much for Ethereum as any other coin – which, the way I see it, has only one true “use”…to promulgate as many scams and speculations as possible, from “DeFi” to NFTs to yield farming and the Metaverse.\n\nIn the big picture, the “final battle” is about Bitcoin’s myriad, powerful enemies waging all-out war, in a last ditch attempt to discredit and destroy it.  They will ultimately fail, but right now, I see little evidence that failure is imminent. Fortunately, their fiat Ponzi is failing right before our eyes – so I fully expect their complex BTC suppression scheme to fail around the time of the next halving.\n\nSome of their weapons are obvious – like the algos that have smothered BTC trading for nearly two years, tying its every tick to Ethereum whilst NEVER allowing it to rise against ETH.  Of course, you’d never know it if following ANYONE but me – as to date, not a single other person has even recognized, let alone commented on, the biggest pink elephant in market manipulation history…which sadly, has only grown larger, and pinker, with each passing day. Heck, we are now actually seeing Bitcoin fall against ETH during major crypto crashes, which was in the past the ONLY time BTC was allowed to rise against ETH.\n\nOr agencies like the SEC, who approve “futures ETFs” to attack BTC just as “paper gold” derivatives have to Precious Metals for the past 50 years…but not spot ETFs, in the name of “protecting” investors. Or governments, like China (or New York!) banning Bitcoin mining; or the IMF, extorting indebted nations like Argentina who embrace Bitcoin; or mercilessly attacking those, like El Salvador, who threatened Bitcoin standards.\n\nHowever, they are not the only ones to blame – as unlike last time around, when crypto community members attempted to attack and usurp Bitcoin, this time around these wolves in sheep’s clothing are using BTC’s success to siphon unsophisticated capital into increasingly sophisticated altcoin scams.  \n\nTo that end, I blame self-aggrandizing “Venture Capitalists” as much as vengeful governments for the historic destruction of crypto wealth we are witnessing today – in pumping and dumping thousands of useless coins and schemes that have steered tens of millions of unsophisticated investors away from Bitcoin, into an endless pit of irreversible losses.\n\nEither way, the combined effect of these attacks on Bitcoin’s crypto sovereignty have weakened its momentum dramatically (despite said record on-chain HODLing from its faithful, but still small community).\n\nWhen it comes to global Bitcoin adoption, price appreciation is THE only factor that matters. Anyone who says otherwise doesn’t understand the simple fact that the promise of wealth is why people are attracted to it; whilst market cap growth versus other assets – like stocks, bonds, and fiat currencies – is what gives it its strength. \n\nThe fact that Bitcoin’s technology is unprecedentedly powerful – in terms of unconfiscatability, transaction speed, and privacy – is inconsequential, as what 99% of investors want, and 100% of governments fear most; is an asset so strong, it draws capital, and POWER, from preferred, and controllable, assets. \n\nBTC is indeed NGU technology. However, the PACE it rises is not yet determined – and for now every possible effort is being made to delay it.\n\nThe way I see it, the Bitcoin price is under attack like no other asset in history…other than gold, which in my view, the powers that be may be allowing to (SLOWLY!) rise whilst it attacks BTC, to prevent the masses from seeing Bitcoin for what it truly is; i.e., the NEW store of value king.\n\nBitcoin HODLing has never been stronger, as measured by the percent of supply held for more than a year…and no matter how low the price goes, I expect this statistic to remain stable…or perhaps, rise further given the increasingly wealthy and knowledgeable strong hands who own it. \n\nHowever, prices are set at the margin – and when futures markets, BTC algos, and other dirty tricks are used to suppress it; now, with the “cover” of dramatically deleveraging financial markets, amidst what has typically been the weakest point of BTC’s halving cycle; it is entirely possible that the massive support at $30k is broken, yielding a cascade of non-fundamental, stop-loss driven selling.\n\nTo that end, if you think MSTR’s 129,000 BTC position - at a cost of, wait for it, $30k, is NOT being targeted, I have a bridge in Brooklyn to sell you. Or, for that matter, the SELF-INFLICTED gunshot from the massively overhyped, overrated Elon Musk (except for his cars – which like Netflix, will ultimately be commoditized)…who not only put the entire TSLA shareholder base in harm’s way with his asinine, ego-driven decision to buy an inconsequential social media platform, but his own net worth by leveraging his TSLA shares to do so.  Yes, TSLA’s 43,000 BTC position will now be targeted, too, thanks to the most hubristic corporate act I have ever seen – and it’s entirely Elon’s own fault.\n\nAnd then there's Terra, ticker LUNA - which used other people's money to buy a massive position in BTC, with a supposedly \"decentralized\" reserve structure in which a stablecoin \"peg\" is somehow maintained to Tether (assuming I read this correctly). I have NO IDEA what this actually means, but it sounds ugly and stupid - and apparently, the market is assuming it may be a Ponzi ready to collapse. If so, does the BTC get sold, or stolen, or what? I have no idea, but I do know that, as is the case with 99.9% of \"crypto projects,\" the long run result is...just hold BTC, and stop trying to \"make money\" off it, especially on shady or stupid schemes.  Which, in this case, may well lead to yet another major buy opportunity for the whales waiting to scoop up force-sold BTC from idiots.\n\nAs for GBTC’s 25% discount to net asset value, that is something that in my view, is very meaningful. In more than three decades of watching markets, and owning or analyzing closed-end funds, I cannot recall one EVER trading this far below NAV – particularly one like GBTC, which offers the only way for most institutions to own Bitcoin in a market where criminal entities like the SEC and CFTC spend 24/7 finding new ways to prevent physical BTC ownership, whilst exponentially expanding the BTC derivatives market.\n\nIn my view, the market may be discounting the possibility of GBTC being confiscated by the government – though admittedly, this is still just a wild speculation…which if attempted, could just as easily catastrophically backfire. Either way, it clearly is portending something ugly, though other than the aforementioned wild speculation, I cannot yet understand what.\n\nThe point being, that as much as I’d love to see Bitcoin buck its historical trend of collapsing two years after the halving – for various “reasons,” none of which have any chance of stopping, or even slowing Bitcoin’s long-term trajectory – the odds clearly favor significant downside from here, particularly if/when the $30k major support level is broken.\n\nThe good news, of course, is that it is highly unlikely that the remaining available supply wouldn’t be hoovered up long before the major, MAJOR support level of $20k (i.e., the high of the last halving cycle)…particularly because said fundamentals will without question, exponentially improve as we move toward the March 2024 halving.\n\nI was REALLY hoping this cycle would be different; but the fact is, quite clearly, Bitcoin is under siege by powerful forces desperate to destroy it – and since they can’t stop the network, they have “concentrated all firepower” on suppressing the price, for as long as humanly possible.\n\nI have zero doubt that new ATH’s will occur after the 2024 halving – but unfortunately, I have extremely low confidence in Bitcoin’s near-term outlook. Fortunately, my stack is as secure and unconfiscatable as possible, so I’ll just wait it out, until the next halving cycle begins. HOPEFULLY, sooner rather than later.",
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2022/05/08 23:32:12
authorunderground
bodyI'd never think of dumping ALL my PMs for crypto, because at this point it's became apparent to me that BOTH are a hedge against fiat collapse, and I believe that BOTH will survive that financial SHTF. I'm also amazed that you are a Bitcoin Absolutist, I agree that the Ethereum system has lots of scams, but eventually ALL finances will be on Blockchain. We're still in the wild west phase of crypto. Caveat Emptor has never been more applicable than today! The Silver Lining is coming from an unlikely source... .GOV is looking hard at crypto, but the majority of the inquiries to me seem to be on the regulation of the ICOs primarily. I lost a few bucks in that Floyd Mayweather & Kim Kardashian Kerfluffle, E-Max (ethereum max) I still have a few million or billion in a wallet Love to get a refund 😅
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      "body": "I'd never think of dumping ALL my PMs  for crypto, because at this point it's became apparent to me that BOTH are a hedge against fiat collapse, and I believe that BOTH will survive that financial SHTF.  \n\nI'm also amazed that you are a Bitcoin Absolutist,  I agree that the Ethereum system has lots of scams, but eventually ALL finances will be on Blockchain. We're still in the wild west  phase of crypto.  Caveat Emptor has never been more applicable than today! \n\nThe Silver Lining is coming from an unlikely source...  .GOV is looking hard at crypto, but the majority of the inquiries to me seem to be on the regulation of  the  ICOs primarily.  I lost a few bucks in that Floyd Mayweather & Kim Kardashian Kerfluffle, E-Max (ethereum max) \n\nI still have a few million or billion in a wallet \nLove to get a refund 😅",
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2022/05/08 23:13:00
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2022/05/08 17:51:15
authorandyhoffman
bodyOver a 33 year career in financial markets, I have witnessed historical inflection points in the global social, political, and economic landscape – which, care of the most destructive, self-serving monetary policy ever, has doomed the world to unprecedented inflation; unrest; and ultimately, transformation. I first sensed something was wrong in 2002, when I went all-in Precious Metals – spending the ensuing 15 years forecasting a doomsday scenario in which history’s largest, most destructive fiat Ponzi would spectacularly implode. When the system broke in 2008, it was a fait accompli such a scenario was ensured…it was just a matter of time before TPTB’s only remaining weapons – money printing, market manipulation, and propaganda (rigged CPIs, etc) would completely fail. When I first found Bitcoin in 2013, it took time to be convinced, but in 2016 I was sold…going “all in” in mid-2017, when I sold the last of my PMs for BTC. I still believed a worst-case political, social, and monetary outcome was likely, but finally had hope that the future beyond could be bright. That said, when BTC entered its second post-halving downturn (in early 2018, like early 2014), I was fearful of a worst-case Bitcoin scenario – as not only was it still small, but so much about its future was unclear. Yes, it had its detractors and enemies (JP Morgan, the Chinese government, etc), but the biggest risks then were WITHIN the crypto community - like Roger Ver, Fake-toshi, and others who claimed the ability to destroy or damage Bitcoin. Those were really trying times, and how I escaped them with more BTC than I started with is the craziest, and luckiest, episode of my career. Anyone who was around in 2016-18 (not to mention, much of 2019 and, of course, the March 2020 COVID crash), EARNED the cheap BTC they have, as it was indeed a terrifying time to HODL. Bitcoin FUD was the worst I have ever seen, for any asset, any time. Fast forward to 2022, amidst the third halving cycle downturn – which time around, is occurring amidst Bitcoin’s best ever fundamentals, as well as a macroeconomic backdrop that couldn’t be more conducive to Bitcoin adoption. In other words, there is no longer ANY fundamental issues to fear – so much so, that “FUD” per se has been permanently destroyed. To wit, it couldn’t be clearer that there will NEVER be a challenger to Bitcoin’s monetary dominance, and NOTHING can stop its exponential growth path. Whether it becomes THE world’s reserve currency has yet to be decided (I believe it will) – but as a monetary store of value, amidst the inevitable, perhaps imminent destruction of the fiat regime, the likelihood BTC will NOT rise dramatically is slim to none. However… Sadly, despite all Bitcoin has accomplished; from destroying all internal threats, achieving an ATH hash rate (this month!), achieving respectability, and acceptability, from a material percentage of the global investment community; materially upgrading its technology; proving its worth amidst the worst financial crisis of our lifetimes; and achieving its highest-ever level of long-term HODLing; it has not yet reached “escape velocity” from a price and adoption standpoint. This will come in time – likely, after the next halving…but for now, it appears extremely unlikely that Bitcoin will be able to overcome the (increasingly virulent and sophisticated) external attacks against it; until, in my opinion, the great equalizer of the next halving enables it to resume its historically cyclical bull market trend. Yes, there are countless events that could reverse the negativity; resume the bull market; and even reach Max Keiser’s year-end target of $220,000. However, the realism that has guided my financial career; and observation of hideous, 24/7 BTC price suppression (on a par with Precious Metals) tells me the odds are against it. In my view, what we are witnessing today is the “final battle” for global monetary leadership…between the Centralized “powers that be” and the Decentralized BTC network. Not “crypto,” but Bitcoin – as the way I see it, essentially all altcoins are scams, with no chance of having a material, sustainable use case. Which, I might add, goes as much for Ethereum as any other coin – which, the way I see it, has only one true “use”…to promulgate as many scams and speculations as possible, from “DeFi” to NFTs to yield farming and the Metaverse. In the big picture, the “final battle” is about Bitcoin’s myriad, powerful enemies waging all-out war, in a last ditch attempt to discredit and destroy it. They will ultimately fail, but right now, I see little evidence that failure is imminent. Fortunately, their fiat Ponzi is failing right before our eyes – so I fully expect their complex BTC suppression scheme to fail around the time of the next halving. Some of their weapons are obvious – like the algos that have smothered BTC trading for nearly two years, tying its every tick to Ethereum whilst NEVER allowing it to rise against ETH. Of course, you’d never know it if following ANYONE but me – as to date, not a single other person has even recognized, let alone commented on, the biggest pink elephant in market manipulation history…which sadly, has only grown larger, and pinker, with each passing day. Heck, we are now actually seeing Bitcoin fall against ETH during major crypto crashes, which was in the past the ONLY time BTC was allowed to rise against ETH. Or agencies like the SEC, who approve “futures ETFs” to attack BTC just as “paper gold” derivatives have to Precious Metals for the past 50 years…but not spot ETFs, in the name of “protecting” investors. Or governments, like China (or New York!) banning Bitcoin mining; or the IMF, extorting indebted nations like Argentina who embrace Bitcoin; or mercilessly attacking those, like El Salvador, who threatened Bitcoin standards. However, they are not the only ones to blame – as unlike last time around, when crypto community members attempted to attack and usurp Bitcoin, this time around these wolves in sheep’s clothing are using BTC’s success to siphon unsophisticated capital into increasingly sophisticated altcoin scams. To that end, I blame self-aggrandizing “Venture Capitalists” as much as vengeful governments for the historic destruction of crypto wealth we are witnessing today – in pumping and dumping thousands of useless coins and schemes that have steered tens of millions of unsophisticated investors away from Bitcoin, into an endless pit of irreversible losses. Either way, the combined effect of these attacks on Bitcoin’s crypto sovereignty have weakened its momentum dramatically (despite said record on-chain HODLing from its faithful, but still small community). When it comes to global Bitcoin adoption, price appreciation is THE only factor that matters. Anyone who says otherwise doesn’t understand the simple fact that the promise of wealth is why people are attracted to it; whilst market cap growth versus other assets – like stocks, bonds, and fiat currencies – is what gives it its strength. The fact that Bitcoin’s technology is unprecedentedly powerful – in terms of unconfiscatability, transaction speed, and privacy – is inconsequential, as what 99% of investors want, and 100% of governments fear most; is an asset so strong, it draws capital, and POWER, from preferred, and controllable, assets. BTC is indeed NGU technology. However, the PACE it rises is not yet determined – and for now every possible effort is being made to delay it. The way I see it, the Bitcoin price is under attack like no other asset in history…other than gold, which in my view, the powers that be may be allowing to (SLOWLY!) rise whilst it attacks BTC, to prevent the masses from seeing Bitcoin for what it truly is; i.e., the NEW store of value king. Bitcoin HODLing has never been stronger, as measured by the percent of supply held for more than a year…and no matter how low the price goes, I expect this statistic to remain stable…or perhaps, rise further given the increasingly wealthy and knowledgeable strong hands who own it. However, prices are set at the margin – and when futures markets, BTC algos, and other dirty tricks are used to suppress it; now, with the “cover” of dramatically deleveraging financial markets, amidst what has typically been the weakest point of BTC’s halving cycle; it is entirely possible that the massive support at $30k is broken, yielding a cascade of non-fundamental, stop-loss driven selling. To that end, if you think MSTR’s 129,000 BTC position - at a cost of, wait for it, $30k, is NOT being targeted, I have a bridge in Brooklyn to sell you. Or, for that matter, the SELF-INFLICTED gunshot from the massively overhyped, overrated Elon Musk (except for his cars – which like Netflix, will ultimately be commoditized)…who not only put the entire TSLA shareholder base in harm’s way with his asinine, ego-driven decision to buy an inconsequential social media platform, but his own net worth by leveraging his TSLA shares to do so. Yes, TSLA’s 43,000 BTC position will now be targeted, too, thanks to the most hubristic corporate act I have ever seen – and it’s entirely Elon’s own fault. As for GBTC’s 25% discount to net asset value, that is something that in my view, is very meaningful. In more than three decades of watching markets, and owning or analyzing closed-end funds, I cannot recall one EVER trading this far below NAV – particularly one like GBTC, which offers the only way for most institutions to own Bitcoin in a market where criminal entities like the SEC and CFTC spend 24/7 finding new ways to prevent physical BTC ownership, whilst exponentially expanding the BTC derivatives market. In my view, the market may be discounting the possibility of GBTC being confiscated by the government – though admittedly, this is still just a wild speculation…which if attempted, could just as easily catastrophically backfire. Either way, it clearly is portending something ugly, though other than the aforementioned wild speculation, I cannot yet understand what. The point being, that as much as I’d love to see Bitcoin buck its historical trend of collapsing two years after the halving – for various “reasons,” none of which have any chance of stopping, or even slowing Bitcoin’s long-term trajectory – the odds clearly favor significant downside from here, particularly if/when the $30k major support level is broken. The good news, of course, is that it is highly unlikely that the remaining available supply wouldn’t be hoovered up long before the major, MAJOR support level of $20k (i.e., the high of the last halving cycle)…particularly because said fundamentals will without question, exponentially improve as we move toward the March 2024 halving. I was REALLY hoping this cycle would be different; but the fact is, quite clearly, Bitcoin is under siege by powerful forces desperate to destroy it – and since they can’t stop the network, they have “concentrated all firepower” on suppressing the price, for as long as humanly possible. I have zero doubt that new ATH’s will occur after the 2024 halving – but unfortunately, I have extremely low confidence in Bitcoin’s near-term outlook. Fortunately, my stack is as secure and unconfiscatable as possible, so I’ll just wait it out, until the next halving cycle begins. HOPEFULLY, sooner rather than later.
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      "body": "Over a 33 year career in financial markets, I have witnessed historical inflection points in the global social, political, and economic landscape – which, care of the most destructive, self-serving monetary policy ever, has doomed the world to unprecedented inflation; unrest; and ultimately, transformation.\n\nI first sensed something was wrong in 2002, when I went all-in Precious Metals – spending the ensuing 15 years forecasting a doomsday scenario in which history’s largest, most destructive fiat Ponzi would spectacularly implode. When the system broke in 2008, it was a fait accompli such a scenario was ensured…it was just a matter of time before TPTB’s only remaining weapons – money printing, market manipulation, and propaganda (rigged CPIs, etc) would completely fail.\n\nWhen I first found Bitcoin in 2013, it took time to be convinced, but in 2016 I was sold…going “all in” in mid-2017, when I sold the last of my PMs for BTC. I still believed a worst-case political, social, and monetary outcome was likely, but finally had hope that the future beyond could be bright.\n\nThat said, when BTC entered its second post-halving downturn (in early 2018, like early 2014), I was fearful of a worst-case Bitcoin scenario – as not only was it still small, but so much about its future was unclear. Yes, it had its detractors and enemies (JP Morgan, the Chinese government, etc), but the biggest risks then were WITHIN the crypto community - like Roger Ver, Fake-toshi, and others who claimed the ability to destroy or damage Bitcoin.\n\nThose were really trying times, and how I escaped them with more BTC than I started with is the craziest, and luckiest, episode of my career. Anyone who was around in 2016-18 (not to mention, much of 2019 and, of course, the March 2020 COVID crash), EARNED the cheap BTC they have, as it was indeed a terrifying time to HODL. Bitcoin FUD was the worst I have ever seen, for any asset, any time.\n\nFast forward to 2022, amidst the third halving cycle downturn – which time around, is occurring amidst Bitcoin’s best ever fundamentals, as well as a macroeconomic backdrop that couldn’t be more conducive to Bitcoin adoption. In other words, there is no longer ANY fundamental issues to fear – so much so, that “FUD” per se has been permanently destroyed.\n\nTo wit, it couldn’t be clearer that there will NEVER be a challenger to Bitcoin’s monetary dominance, and NOTHING can stop its exponential growth path. Whether it becomes THE world’s reserve currency has yet to be decided (I believe it will) – but as a monetary store of value, amidst the inevitable, perhaps imminent destruction of the fiat regime, the likelihood BTC will NOT rise dramatically is slim to none.\n\nHowever…\n\nSadly, despite all Bitcoin has accomplished; from destroying all internal threats, achieving an ATH hash rate (this month!), achieving respectability, and acceptability, from a material percentage of the global investment community; materially upgrading its technology; proving its worth amidst the worst financial crisis of our lifetimes; and achieving its highest-ever level of long-term HODLing; it has not yet reached “escape velocity” from a price and adoption standpoint. \n\nThis will come in time – likely, after the next halving…but for now, it appears extremely unlikely that Bitcoin will be able to overcome the (increasingly virulent and sophisticated) external attacks against it; until, in my opinion, the great equalizer of the next halving enables it to resume its historically cyclical bull market trend.\n\nYes, there are countless events that could reverse the negativity; resume the bull market; and even reach Max Keiser’s year-end target of $220,000. However, the realism that has guided my financial career; and observation of hideous, 24/7 BTC price suppression (on a par with Precious Metals) tells me the odds are against it.\n\nIn my view, what we are witnessing today is the “final battle” for global monetary leadership…between the Centralized “powers that be” and the Decentralized BTC network. \n\nNot “crypto,” but Bitcoin – as the way I see it, essentially all altcoins are scams, with no chance of having a material, sustainable use case. Which, I might add, goes as much for Ethereum as any other coin – which, the way I see it, has only one true “use”…to promulgate as many scams and speculations as possible, from “DeFi” to NFTs to yield farming and the Metaverse.\n\nIn the big picture, the “final battle” is about Bitcoin’s myriad, powerful enemies waging all-out war, in a last ditch attempt to discredit and destroy it.  They will ultimately fail, but right now, I see little evidence that failure is imminent. Fortunately, their fiat Ponzi is failing right before our eyes – so I fully expect their complex BTC suppression scheme to fail around the time of the next halving.\n\nSome of their weapons are obvious – like the algos that have smothered BTC trading for nearly two years, tying its every tick to Ethereum whilst NEVER allowing it to rise against ETH.  Of course, you’d never know it if following ANYONE but me – as to date, not a single other person has even recognized, let alone commented on, the biggest pink elephant in market manipulation history…which sadly, has only grown larger, and pinker, with each passing day. Heck, we are now actually seeing Bitcoin fall against ETH during major crypto crashes, which was in the past the ONLY time BTC was allowed to rise against ETH.\n\nOr agencies like the SEC, who approve “futures ETFs” to attack BTC just as “paper gold” derivatives have to Precious Metals for the past 50 years…but not spot ETFs, in the name of “protecting” investors. Or governments, like China (or New York!) banning Bitcoin mining; or the IMF, extorting indebted nations like Argentina who embrace Bitcoin; or mercilessly attacking those, like El Salvador, who threatened Bitcoin standards.\n\nHowever, they are not the only ones to blame – as unlike last time around, when crypto community members attempted to attack and usurp Bitcoin, this time around these wolves in sheep’s clothing are using BTC’s success to siphon unsophisticated capital into increasingly sophisticated altcoin scams.  \n\nTo that end, I blame self-aggrandizing “Venture Capitalists” as much as vengeful governments for the historic destruction of crypto wealth we are witnessing today – in pumping and dumping thousands of useless coins and schemes that have steered tens of millions of unsophisticated investors away from Bitcoin, into an endless pit of irreversible losses.\n\nEither way, the combined effect of these attacks on Bitcoin’s crypto sovereignty have weakened its momentum dramatically (despite said record on-chain HODLing from its faithful, but still small community).\n\nWhen it comes to global Bitcoin adoption, price appreciation is THE only factor that matters. Anyone who says otherwise doesn’t understand the simple fact that the promise of wealth is why people are attracted to it; whilst market cap growth versus other assets – like stocks, bonds, and fiat currencies – is what gives it its strength. \n\nThe fact that Bitcoin’s technology is unprecedentedly powerful – in terms of unconfiscatability, transaction speed, and privacy – is inconsequential, as what 99% of investors want, and 100% of governments fear most; is an asset so strong, it draws capital, and POWER, from preferred, and controllable, assets. \n\nBTC is indeed NGU technology. However, the PACE it rises is not yet determined – and for now every possible effort is being made to delay it.\n\nThe way I see it, the Bitcoin price is under attack like no other asset in history…other than gold, which in my view, the powers that be may be allowing to (SLOWLY!) rise whilst it attacks BTC, to prevent the masses from seeing Bitcoin for what it truly is; i.e., the NEW store of value king.\n\nBitcoin HODLing has never been stronger, as measured by the percent of supply held for more than a year…and no matter how low the price goes, I expect this statistic to remain stable…or perhaps, rise further given the increasingly wealthy and knowledgeable strong hands who own it. \n\nHowever, prices are set at the margin – and when futures markets, BTC algos, and other dirty tricks are used to suppress it; now, with the “cover” of dramatically deleveraging financial markets, amidst what has typically been the weakest point of BTC’s halving cycle; it is entirely possible that the massive support at $30k is broken, yielding a cascade of non-fundamental, stop-loss driven selling.\n\nTo that end, if you think MSTR’s 129,000 BTC position - at a cost of, wait for it, $30k, is NOT being targeted, I have a bridge in Brooklyn to sell you. Or, for that matter, the SELF-INFLICTED gunshot from the massively overhyped, overrated Elon Musk (except for his cars – which like Netflix, will ultimately be commoditized)…who not only put the entire TSLA shareholder base in harm’s way with his asinine, ego-driven decision to buy an inconsequential social media platform, but his own net worth by leveraging his TSLA shares to do so.  Yes, TSLA’s 43,000 BTC position will now be targeted, too, thanks to the most hubristic corporate act I have ever seen – and it’s entirely Elon’s own fault.\n\nAs for GBTC’s 25% discount to net asset value, that is something that in my view, is very meaningful. In more than three decades of watching markets, and owning or analyzing closed-end funds, I cannot recall one EVER trading this far below NAV – particularly one like GBTC, which offers the only way for most institutions to own Bitcoin in a market where criminal entities like the SEC and CFTC spend 24/7 finding new ways to prevent physical BTC ownership, whilst exponentially expanding the BTC derivatives market.\n\nIn my view, the market may be discounting the possibility of GBTC being confiscated by the government – though admittedly, this is still just a wild speculation…which if attempted, could just as easily catastrophically backfire. Either way, it clearly is portending something ugly, though other than the aforementioned wild speculation, I cannot yet understand what.\n\nThe point being, that as much as I’d love to see Bitcoin buck its historical trend of collapsing two years after the halving – for various “reasons,” none of which have any chance of stopping, or even slowing Bitcoin’s long-term trajectory – the odds clearly favor significant downside from here, particularly if/when the $30k major support level is broken.\n\nThe good news, of course, is that it is highly unlikely that the remaining available supply wouldn’t be hoovered up long before the major, MAJOR support level of $20k (i.e., the high of the last halving cycle)…particularly because said fundamentals will without question, exponentially improve as we move toward the March 2024 halving.\n\nI was REALLY hoping this cycle would be different; but the fact is, quite clearly, Bitcoin is under siege by powerful forces desperate to destroy it – and since they can’t stop the network, they have “concentrated all firepower” on suppressing the price, for as long as humanly possible.\n\nI have zero doubt that new ATH’s will occur after the 2024 halving – but unfortunately, I have extremely low confidence in Bitcoin’s near-term outlook. Fortunately, my stack is as secure and unconfiscatable as possible, so I’ll just wait it out, until the next halving cycle begins. HOPEFULLY, sooner rather than later.",
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authorandyhoffman
bodyOver a 33 year career in financial markets, I have witnessed historical inflection points in the global social, political, and economic landscape – which, care of the most destructive, self-serving monetary policy ever, has doomed the world to unprecedented inflation; unrest; and ultimately, transformation. I first sensed something was wrong in 2002, when I went all-in Precious Metals – spending the ensuing 15 years forecasting a doomsday scenario in which history’s largest, most destructive fiat Ponzi would spectacularly implode. When the system broke in 2008, it was a fait accompli such a scenario was ensured…it was just a matter of time before TPTB’s only remaining weapons – money printing, market manipulation, and propaganda (rigged CPIs, etc) would completely fail. When I first found Bitcoin in 2013, it took time to be convinced, but in 2016 I was sold…going “all in” in mid-2017, when I sold the last of my PMs for BTC. I still believed a worst-case political, social, and monetary outcome was likely, but finally had hope that the future beyond could be bright. That said, when BTC entered its second post-halving downturn (in early 2018, like early 2014), I was fearful of a worst-case Bitcoin scenario – as not only was it still small, but so much about its future was unclear. Yes, it had its detractors and enemies (JP Morgan, the Chinese government, etc), but the biggest risks then were WITHIN the crypto community - like Roger Ver, Fake-toshi, and others who claimed the ability to destroy or damage Bitcoin. Those were really trying times, and how I escaped them with more BTC than I started with is the craziest, and luckiest, episode of my career. Anyone who was around in 2016-18 (not to mention, much of 2019 and, of course, the March 2020 COVID crash), EARNED the cheap BTC they have, as it was indeed a terrifying time to HODL. Bitcoin FUD was the worst I have ever seen, for any asset, any time. Fast forward to 2022, amidst the third halving cycle downturn – which time around, is occurring amidst Bitcoin’s best ever fundamentals, as well as a macroeconomic backdrop that couldn’t be more conducive to Bitcoin adoption. In other words, there is no longer ANY fundamental issues to fear – so much so, that “FUD” per se has been permanently destroyed. To wit, it couldn’t be clearer that there will NEVER be a challenger to Bitcoin’s monetary dominance, and NOTHING can stop its exponential growth path. Whether it becomes THE world’s reserve currency has yet to be decided (I believe it will) – but as a monetary store of value, amidst the inevitable, perhaps imminent destruction of the fiat regime, the likelihood BTC will NOT rise dramatically is slim to none. However… Sadly, despite all Bitcoin has accomplished; from destroying all internal threats, achieving an ATH hash rate (this month!), achieving respectability, and acceptability, from a material percentage of the global investment community; materially upgrading its technology; proving its worth amidst the worst financial crisis of our lifetimes; and achieving its highest-ever level of long-term HODLing; it has not yet reached “escape velocity” from a price and adoption standpoint. This will come in time – likely, after the next halving…but for now, it appears extremely unlikely that Bitcoin will be able to overcome the (increasingly virulent and sophisticated) external attacks against it; until, in my opinion, the great equalizer of the next halving enables it to resume its historically cyclical bull market trend. Yes, there are countless events that could reverse the negativity; resume the bull market; and even reach Max Keiser’s year-end target of $220,000. However, the realism that has guided my financial career; and observation of hideous, 24/7 BTC price suppression (on a par with Precious Metals) tells me the odds are against it. In my view, what we are witnessing today is the “final battle” for global monetary leadership…between the Centralized “powers that be” and the Decentralized BTC network. Not “crypto,” but Bitcoin – as the way I see it, essentially all altcoins are scams, with no chance of having a material, sustainable use case. Which, I might add, goes as much for Ethereum as any other coin – which, the way I see it, has only one true “use”…to promulgate as many scams and speculations as possible, from “DeFi” to NFTs to yield farming and the Metaverse. In the big picture, the “final battle” is about Bitcoin’s myriad, powerful enemies waging all-out war, in a last ditch attempt to discredit and destroy it. They will ultimately fail, but right now, I see little evidence that failure is imminent. Fortunately, their fiat Ponzi is failing right before our eyes – so I fully expect their complex BTC suppression scheme to fail around the time of the next halving. Some of their weapons are obvious – like the algos that have smothered BTC trading for nearly two years, tying its every tick to Ethereum whilst NEVER allowing it to rise against ETH. Of course, you’d never know it if following ANYONE but me – as to date, not a single other person has even recognized, let alone commented on, the biggest pink elephant in market manipulation history…which sadly, has only grown larger, and pinker, with each passing day. Heck, we are now actually seeing Bitcoin fall against ETH during major crypto crashes, which was in the past the ONLY time BTC was allowed to rise against ETH. Or agencies like the SEC, who approve “futures ETFs” to attack BTC just as “paper gold” derivatives have to Precious Metals for the past 50 years…but not spot ETFs, in the name of “protecting” investors. Or governments, like China (or New York!) banning Bitcoin mining; or the IMF, extorting indebted nations like Argentina who embrace Bitcoin; or mercilessly attacking those, like El Salvador, who threatened Bitcoin standards. However, they are not the only ones to blame – as unlike last time around, when crypto community members attempted to attack and usurp Bitcoin, this time around these wolves in sheep’s clothing are using BTC’s success to siphon unsophisticated capital into increasingly sophisticated altcoin scams. To that end, I blame self-aggrandizing “Venture Capitalists” as much as vengeful governments for the historic destruction of crypto wealth we are witnessing today – in pumping and dumping thousands of useless coins and schemes that have steered tens of millions of unsophisticated investors away from Bitcoin, into an endless pit of irreversible losses. Either way, the combined effect of these attacks on Bitcoin’s crypto sovereignty have weakened its momentum dramatically (despite said record on-chain HODLing from its faithful, but still small community). When it comes to global Bitcoin adoption, price appreciation is THE only factor that matters. Anyone who says otherwise doesn’t understand the simple fact that the promise of wealth is why people are attracted to it; whilst market cap growth versus other assets – like stocks, bonds, and fiat currencies – is what gives it its strength. The fact that Bitcoin’s technology is unprecedentedly powerful – in terms of unconfiscatability, transaction speed, and privacy – is inconsequential, as what 99% of investors want, and 100% of governments fear most; is an asset so strong, it draws capital, and POWER, from preferred, and controllable, assets. BTC is indeed NGU technology. However, the PACE it rises is not yet determined – and for now every possible effort is being made to delay it. The way I see it, the Bitcoin price is under attack like no other asset in history…other than gold, which in my view, the powers that be may be allowing to (SLOWLY!) rise whilst it attacks BTC, to prevent the masses from seeing Bitcoin for what it truly is; i.e., the NEW store of value king. Bitcoin HODLing has never been stronger, as measured by the percent of supply held for more than a year…and no matter how low the price goes, I expect this statistic to remain stable…or perhaps, rise further given the increasingly wealthy and knowledgeable strong hands who own it. However, prices are set at the margin – and when futures markets, BTC algos, and other dirty tricks are used to suppress it; now, with the “cover” of dramatically deleveraging financial markets, amidst what has typically been the weakest point of BTC’s halving cycle; it is entirely possible that the massive support at $30k is broken, yielding a cascade of non-fundamental, stop-loss driven selling. To that end, if you think MSTR’s 129,000 BTC position - at a cost of, wait for it, $30k, is NOT being targeted, I have a bridge in Brooklyn to sell you. Or, for that matter, the SELF-INFLICTED gunshot from the massively overhyped, overrated Elon Musk (except for his cars – which like Netflix, will ultimately be commoditized)…who not only put the entire TSLA shareholder base in harm’s way with his asinine, ego-driven decision to buy an inconsequential social media platform, but his own net worth by leveraging his TSLA shares to do so. Yes, TSLA’s 43,000 BTC position will now be targeted, too, thanks to the most hubristic corporate act I have ever seen – and it’s entirely Elon’s own fault. As for GBTC’s 25% discount to net asset value, that is something that in my view, is very meaningful. In more than three decades of watching markets, and owning or analyzing closed-end funds, I cannot recall one EVER trading this far below NAV – particularly one like GBTC, which offers the only way for most institutions to own Bitcoin in a market where criminal entities like the SEC and CFTC spend 24/7 finding new ways to prevent physical BTC ownership, whilst exponentially expanding the BTC derivatives market. In my view, the market may be discounting the possibility of GBTC being confiscated by the government – though admittedly, this is still just a wild speculation…which if attempted, could just as easily catastrophically backfire. Either way, it clearly is portending something ugly, though other than the aforementioned wild speculation, I cannot yet understand what. The point being, that as much as I’d love to see Bitcoin buck its historical trend of collapsing two years after the halving – for various “reasons,” none of which have any chance of stopping, or even slowing Bitcoin’s long-term trajectory – the odds clearly favor significant downside from here, particularly if/when the $30k major support level is broken. The good news, of course, is that it is highly unlikely that the remaining available supply wouldn’t be hoovered up long before the major, MAJOR support level of $20k (i.e., the high of the last halving cycle)…particularly because said fundamentals will without question, exponentially improve as we move toward the March 2024 halving. I was REALLY hoping this cycle would be different; but the fact is, quite clearly, Bitcoin is under siege by powerful forces desperate to destroy it – and since they can’t stop the network, they have “concentrated all firepower” on suppressing the price, for as long as humanly possible. I have zero doubt that new ATH’s will occur after the 2024 halving – but unfortunately, I have extremely low confidence in Bitcoin’s near-term outlook. Fortunately, my stack is as secure and unconfiscatable as possible, so I’ll just wait it out, until the next halving cycle begins. HOPEFULLY, sooner rather than later.
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      "body": "Over a 33 year career in financial markets, I have witnessed historical inflection points in the global social, political, and economic landscape – which, care of the most destructive, self-serving monetary policy ever, has doomed the world to unprecedented inflation; unrest; and ultimately, transformation.\n\nI first sensed something was wrong in 2002, when I went all-in Precious Metals – spending the ensuing 15 years forecasting a doomsday scenario in which history’s largest, most destructive fiat Ponzi would spectacularly implode. When the system broke in 2008, it was a fait accompli such a scenario was ensured…it was just a matter of time before TPTB’s only remaining weapons – money printing, market manipulation, and propaganda (rigged CPIs, etc) would completely fail.\n\nWhen I first found Bitcoin in 2013, it took time to be convinced, but in 2016 I was sold…going “all in” in mid-2017, when I sold the last of my PMs for BTC. I still believed a worst-case political, social, and monetary outcome was likely, but finally had hope that the future beyond could be bright.\n\nThat said, when BTC entered its second post-halving downturn (in early 2018, like early 2014), I was fearful of a worst-case Bitcoin scenario – as not only was it still small, but so much about its future was unclear. Yes, it had its detractors and enemies (JP Morgan, the Chinese government, etc), but the biggest risks then were WITHIN the crypto community - like Roger Ver, Fake-toshi, and others who claimed the ability to destroy or damage Bitcoin.\n\nThose were really trying times, and how I escaped them with more BTC than I started with is the craziest, and luckiest, episode of my career. Anyone who was around in 2016-18 (not to mention, much of 2019 and, of course, the March 2020 COVID crash), EARNED the cheap BTC they have, as it was indeed a terrifying time to HODL. Bitcoin FUD was the worst I have ever seen, for any asset, any time.\n\nFast forward to 2022, amidst the third halving cycle downturn – which time around, is occurring amidst Bitcoin’s best ever fundamentals, as well as a macroeconomic backdrop that couldn’t be more conducive to Bitcoin adoption. In other words, there is no longer ANY fundamental issues to fear – so much so, that “FUD” per se has been permanently destroyed.\n\nTo wit, it couldn’t be clearer that there will NEVER be a challenger to Bitcoin’s monetary dominance, and NOTHING can stop its exponential growth path. Whether it becomes THE world’s reserve currency has yet to be decided (I believe it will) – but as a monetary store of value, amidst the inevitable, perhaps imminent destruction of the fiat regime, the likelihood BTC will NOT rise dramatically is slim to none.\n\nHowever…\n\nSadly, despite all Bitcoin has accomplished; from destroying all internal threats, achieving an ATH hash rate (this month!), achieving respectability, and acceptability, from a material percentage of the global investment community; materially upgrading its technology; proving its worth amidst the worst financial crisis of our lifetimes; and achieving its highest-ever level of long-term HODLing; it has not yet reached “escape velocity” from a price and adoption standpoint. \n\nThis will come in time – likely, after the next halving…but for now, it appears extremely unlikely that Bitcoin will be able to overcome the (increasingly virulent and sophisticated) external attacks against it; until, in my opinion, the great equalizer of the next halving enables it to resume its historically cyclical bull market trend.\n\nYes, there are countless events that could reverse the negativity; resume the bull market; and even reach Max Keiser’s year-end target of $220,000. However, the realism that has guided my financial career; and observation of hideous, 24/7 BTC price suppression (on a par with Precious Metals) tells me the odds are against it.\n\nIn my view, what we are witnessing today is the “final battle” for global monetary leadership…between the Centralized “powers that be” and the Decentralized BTC network. \n\nNot “crypto,” but Bitcoin – as the way I see it, essentially all altcoins are scams, with no chance of having a material, sustainable use case. Which, I might add, goes as much for Ethereum as any other coin – which, the way I see it, has only one true “use”…to promulgate as many scams and speculations as possible, from “DeFi” to NFTs to yield farming and the Metaverse.\n\nIn the big picture, the “final battle” is about Bitcoin’s myriad, powerful enemies waging all-out war, in a last ditch attempt to discredit and destroy it.  They will ultimately fail, but right now, I see little evidence that failure is imminent. Fortunately, their fiat Ponzi is failing right before our eyes – so I fully expect their complex BTC suppression scheme to fail around the time of the next halving.\n\nSome of their weapons are obvious – like the algos that have smothered BTC trading for nearly two years, tying its every tick to Ethereum whilst NEVER allowing it to rise against ETH.  Of course, you’d never know it if following ANYONE but me – as to date, not a single other person has even recognized, let alone commented on, the biggest pink elephant in market manipulation history…which sadly, has only grown larger, and pinker, with each passing day. Heck, we are now actually seeing Bitcoin fall against ETH during major crypto crashes, which was in the past the ONLY time BTC was allowed to rise against ETH.\n\nOr agencies like the SEC, who approve “futures ETFs” to attack BTC just as “paper gold” derivatives have to Precious Metals for the past 50 years…but not spot ETFs, in the name of “protecting” investors. Or governments, like China (or New York!) banning Bitcoin mining; or the IMF, extorting indebted nations like Argentina who embrace Bitcoin; or mercilessly attacking those, like El Salvador, who threatened Bitcoin standards.\n\nHowever, they are not the only ones to blame – as unlike last time around, when crypto community members attempted to attack and usurp Bitcoin, this time around these wolves in sheep’s clothing are using BTC’s success to siphon unsophisticated capital into increasingly sophisticated altcoin scams.  \n\nTo that end, I blame self-aggrandizing “Venture Capitalists” as much as vengeful governments for the historic destruction of crypto wealth we are witnessing today – in pumping and dumping thousands of useless coins and schemes that have steered tens of millions of unsophisticated investors away from Bitcoin, into an endless pit of irreversible losses.\n\nEither way, the combined effect of these attacks on Bitcoin’s crypto sovereignty have weakened its momentum dramatically (despite said record on-chain HODLing from its faithful, but still small community).\n\nWhen it comes to global Bitcoin adoption, price appreciation is THE only factor that matters. Anyone who says otherwise doesn’t understand the simple fact that the promise of wealth is why people are attracted to it; whilst market cap growth versus other assets – like stocks, bonds, and fiat currencies – is what gives it its strength. \n\nThe fact that Bitcoin’s technology is unprecedentedly powerful – in terms of unconfiscatability, transaction speed, and privacy – is inconsequential, as what 99% of investors want, and 100% of governments fear most; is an asset so strong, it draws capital, and POWER, from preferred, and controllable, assets. \n\nBTC is indeed NGU technology. However, the PACE it rises is not yet determined – and for now every possible effort is being made to delay it.\n\nThe way I see it, the Bitcoin price is under attack like no other asset in history…other than gold, which in my view, the powers that be may be allowing to (SLOWLY!) rise whilst it attacks BTC, to prevent the masses from seeing Bitcoin for what it truly is; i.e., the NEW store of value king.\n\nBitcoin HODLing has never been stronger, as measured by the percent of supply held for more than a year…and no matter how low the price goes, I expect this statistic to remain stable…or perhaps, rise further given the increasingly wealthy and knowledgeable strong hands who own it. \n\nHowever, prices are set at the margin – and when futures markets, BTC algos, and other dirty tricks are used to suppress it; now, with the “cover” of dramatically deleveraging financial markets, amidst what has typically been the weakest point of BTC’s halving cycle; it is entirely possible that the massive support at $30k is broken, yielding a cascade of non-fundamental, stop-loss driven selling.\n\nTo that end, if you think MSTR’s 129,000 BTC position - at a cost of, wait for it, $30k, is NOT being targeted, I have a bridge in Brooklyn to sell you. Or, for that matter, the SELF-INFLICTED gunshot from the massively overhyped, overrated Elon Musk (except for his cars – which like Netflix, will ultimately be commoditized)…who not only put the entire TSLA shareholder base in harm’s way with his asinine, ego-driven decision to buy an inconsequential social media platform, but his own net worth by leveraging his TSLA shares to do so.  Yes, TSLA’s 43,000 BTC position will now be targeted, too, thanks to the most hubristic corporate act I have ever seen – and it’s entirely Elon’s own fault.\n\nAs for GBTC’s 25% discount to net asset value, that is something that in my view, is very meaningful. In more than three decades of watching markets, and owning or analyzing closed-end funds, I cannot recall one EVER trading this far below NAV – particularly one like GBTC, which offers the only way for most institutions to own Bitcoin in a market where criminal entities like the SEC and CFTC spend 24/7 finding new ways to prevent physical BTC ownership, whilst exponentially expanding the BTC derivatives market.\n\nIn my view, the market may be discounting the possibility of GBTC being confiscated by the government – though admittedly, this is still just a wild speculation…which if attempted, could just as easily catastrophically backfire. Either way, it clearly is portending something ugly, though other than the aforementioned wild speculation, I cannot yet understand what.\n\nThe point being, that as much as I’d love to see Bitcoin buck its historical trend of collapsing two years after the halving – for various “reasons,” none of which have any chance of stopping, or even slowing Bitcoin’s long-term trajectory – the odds clearly favor significant downside from here, particularly if/when the $30k major support level is broken.\n\nThe good news, of course, is that it is highly unlikely that the remaining available supply wouldn’t be hoovered up long before the major, MAJOR support level of $20k (i.e., the high of the last halving cycle)…particularly because said fundamentals will without question, exponentially improve as we move toward the March 2024 halving.\n\nI was REALLY hoping this cycle would be different; but the fact is, quite clearly, Bitcoin is under siege by powerful forces desperate to destroy it – and since they can’t stop the network, they have “concentrated all firepower” on suppressing the price, for as long as humanly possible.\n\nI have zero doubt that new ATH’s will occur after the 2024 halving – but unfortunately, I have extremely low confidence in Bitcoin’s near-term outlook. Fortunately, my stack is as secure and unconfiscatable as possible, so I’ll just wait it out, until the next halving cycle begins. HOPEFULLY, sooner rather than later.",
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2022/02/25 18:02:18
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2022/02/19 00:53:00
authorgangstalking
bodyElectronic-terrorism, voice to skull and neuro monitoring on Hive and Steem. You can ignore this, but your going to wish you didnt soon. This is happening whether you believe it or not. https://ecency.com/fyrstikken/@fairandbalanced/i-am-the-only-motherfucker-on-the-internet-pointing-to-a-direct-source-for-voice-to-skull-electronic-terrorism
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2022/02/19 00:52:51
authorandyhoffman
bodyWe are living on the cusp of financial history, a prospect exciting as it is terrifying. To wit, the next 12-18 months could represent the most politically, socially, and economically transformative period EVER. In my case, it’s remarkable to think of the “front row” circumstance of my life - having been born in 1970, less than a year before (what remained of) the gold standard was dissolved; taken an interest in sound money in 2002, subsequently spending 15 years as a leading Precious Metals advocate. And, due to my position in that space, finding Bitcoin in 2016 - becoming not just a significant investor, but a leading advocate. In other words, my life has coincided with the beginning of the end of fiat money; and now, potentially, the end. No one could have even imagined it could happen so quickly, but that’s the beauty of technological progress – as once something revolutionary is invented; like the internet - and now, Bitcoin; the revolution it inspires is often shortly behind. Regarding money, it has been controlled by “men with guns” since the Stone Age; i.e., a small group of men deciding on what was money, how much was produced, and who should receive it. Fiat currency, invented 1,000 years ago in China, was a major technological advancement – in that it made trade more efficient. However, it did not resolve the primary, age-old monetary problems. In other words, while the “guns” the powerful men wielded were less deadly, their power to control the money was equally so. All fiat currencies ultimately collapse - as by definition, due to limitless supply, and incentive of those controlling it to hyperinflate - they are Ponzi schemes. However, the invention of the computer in the 1960s enabled THIS Ponzi scheme to last much longer than in the past, especially after the 1971 decision to abandon the gold standard. To wit, for the first time in history, ALL nations’ currencies were unbacked – with ONE nation, the United States, given the privilege of controlling EVERYTHING. The subsequent five decades featured unparalleled global monetary abuse – so much so, the world is amidst its worst-ever inflationary spiral, featuring historic wealth inequality, capital misallocation, and political mistrust. Not only has monetary expansion put the world at the edge of financial ruin, but market manipulation – via computer algorithms in ALL financial markets - has enabled a handful of sociopaths to plunder trillions from “the 99%.” To that end, I’ve spent the past 20 years very loudly vocalizing my belief that the system was on its last legs. I didn’t know HOW it would end, but it’s been very clear – particularly since the hyperinflationary response to the 2008 financial crisis (caused by the hyperinflationary response to the 2000 dotcom bubble crisis), that SOMETHING was going to catalyze its demise. Until recently, the only “weapon” the system possessed to threaten fiat dominance – aside from its inevitable self-destruction – was the threat of a return to the gold standard. However, before Bitcoin was even conceived, gold’s usefulness as a monetary asset was declining, given its lack of actual monetary properties; general monetary disuse; and ultimately, lack of anti-fragility, exploited by limitless dilution in the “paper gold” market. If Bitcoin hadn’t been invented, perhaps I’d have spent another 15 years tilting at Precious Metal windmills, hoping for the hyperinflationary breakdown that would “make me rich” at the expense of a dangerous, miserable world…which today, cretins like Peter Schiff are praying for with all their might. However, the miracle of Bitcoin, one of the most complex and impactful technologies ever changes everything; as not only is the destruction of fiat currency, in a far weakened state than ever before, inevitable, it may well be imminent…as in, potentially, the next 1-2 years. Even in my wildest dreams, when first investing in 2016 and writing of it daily – first, whilst still Marketing Director of Miles Franklin Precious Metals; and then, proprietor of CryptoGoldCentral.com, which launched in 2017; did I expect Bitcoin to spread so virally, so fast. However, it decidedly has, to the point that ALL FUD has been refuted - with billionaires, institutions, politicians, and even nation states joining the cause. Which leads us to 2022 – when in my view, the “Final Battle” has commenced, of a war Bitcoin MUST, and WILL, win. By the Final Battle, I mean that for all intents and purposes, all anti-Bitcoin combatants have been eliminated except the final, most deadly competitor…the U.S. government; i.e., possessor of for now, the “world’s reserve currency.” First it was sh-tcoiners like Roger Ver and Faketoshi, attempting to create “better” versions of Bitcoin – with deep pocketed partners like Jihan Wu and Calvin Ayre doing the dirty work of manipulating markets as they spread their lies. Next, it was the European Union, BIS, and all other supposedly “rich and powerful” financial institutions – aided by propaganda from well-known cantillionaires like Warren Buffett and Jamie Dimon…which initially impacted the public’s perception of Bitcoin, before ultimately falling on deaf ears. Next, the seemingly invincible Chinese government – which, having already banned crypto trading, took the draconian (and ultimately, suicidal) step of banning Bitcoin mining - sending 50% of the network’s hash rate abroad which, within a few months’ time, inspired a new ATH price AND hash rate. Which leads us to the U.S. government – which, for several decades now, has operated as pettily, irresponsibly, selfishly, and vindictively as any in the world. Wrought with corruption, self-dealing, and stupidity, a seemingly unending stream of bad policy decisions has brought its status as “superpower” to the brink…and with it, its soon-to-be-hyperinflating “reserve currency.” To that end, I strongly disagree with those who believe Bitcoin and the dollar can peacefully co-exist. Money has ALWAYS been a winner-take-all game, and to believe something as perfect as Bitcoin won’t completely usurp the cancerous dollar is in my view a sad attempt at sugar coating reality. This is why the U.S. government will fight Bitcoin to the death. First, it was “pot shots” like denying ETF applications – which devolved into actually approving the “futures ETFs” that are being used, like the GLD gold ETF, to suppress price. The only difference being, that whilst the amount of gold underlying GLD can never be audited, on-chain analytics show us that indeed, few are selling ACTUAL Bitcoin, as opposed to fake derivative products. However, now that inflation is raging out of control (and JUST GETTING STARTED); with Bitcoin’s hash rate having blown by the pre-China ban ATH; as billionaires, institutions, and even American politicians have taken strong pro-Bitcoin stances; the time has come when the Biden Administration will empty its chambers. I don’t think the fight will last long, as it has no viable weapons. Nothing can stop Bitcoin, and the blowback from within America itself will be too strong – starting with states like Texas, Wyoming, and Florida (with others like Colorado, New Hampshire, and Illinois joining the ranks this week alone). To that end, the fight may not last through 2022 – and certainly not 2023, when hype from the approaching 1Q 2024 halving alone could propel the Bitcoin price to unfathomably high levels. What I do expect, however (for what it’s worth), is that the algorithms that have been used to suppress Bitcoin since AT LEAST August 2020, when I first discovered them, will be utilized as powerfully as ever. I have written of them ad nauseum since, and all you have to do is watch how ETH controls BTC’s every price movement to realize they are REAL, and OMNIPRESENT. (1) Andy Hoffman🇸🇻 on Twitter: "MY LATEST, MUST READ ARTICLE - "The Giant Pink Elephant The Room That ALL Ignore – The “ETH Cartel” Algorithms That Have Destroyed #BTC Price Discovery Since 2020, and WILL Ultimately Be Overcome"... https://t.co/2E7DuSQ8NA" / Twitter Their fatal flaw, of course, is that there is no logical reason for ETH to control BTC’s price – and thus, when Bitcoin adoption has the MAJOR stair-step higher I believe to be inevitable, trading volumes will expand so dramatically; whilst supply declines so sharply; they will become impossible to maintain. At which point, true price discovery will return – as unlike paper gold, the entire world will be aware that very little Bitcoin supply is actually available for sale. Beyond this, all that’s left are draconian attempts which, at best, will buy precious little more time – like, for example, freezing cryptocurrency accounts at brokerages, which is why you should NOT hold Bitcoin anywhere but in your own custody; at least, until it has destroyed the dollar, and taken over as world’s reserve currency. Should the U.S. government attempt such lunacy, it COULD cause a temporary slide in BTC’s price…but more likely, would yield a parabolic rise, as the entire world flees the “second world” U.S. monetary system. (https://twitter.com/jespow/status/1494462097161220104?t=8rt7wKZuFW7I_UZML3W_pg&s=03) Moreover, if they dared try to ban Bitcoin mining, they would likely face secession from numerous States; particularly Texas - on its own a major economic power, which has had an increasingly vocal secession movement for years. And again, this too could catalyze a parabolic BTC price rise, for the very same reason. That said, the one area where they could, and are desperately trying to, cause near-term damage is in El Salvador – whose “Volcano Bonds” are scheduled to price around March 15th-21st. The proposed size is $1 billion, but rumor has it that if demand is there, it could be upsized to as much as $5 billion. Which, if it occurred, would not only bring $2.5 billion of fresh BTC buying to the market, but enable El Salvador to roll over its debt and dramatically expand the growth of its Bitcoin economy. In my view, this could be the most dramatic event in financial history – potentially, launching a global, unstoppable adoption wave that could topple nation states and currencies before the next halving. Andy Hoffman🇸🇻 on Twitter: "El Salvador's proposed Volcano Bond issuance represents a potential turning point in history. If successful, the world will become a better place. If not, I will lose all faith in humanity. @nayibbukele @maxkeiser @stacyherbert @SimonDixonTwitt @Excellion" / Twitter Andy Hoffman🇸🇻 on Twitter: "The global financial community has NO IDEA what is about to hit them. If you think a U.S. #Bitcoin ETF listing will be a big deal, wait until NEXT MONTH, you see the reaction when the El Salvador #BTC Volcano Bond is launched, to MASSIVE OVERSUBSCRIPTION. https://t.co/1RGqDWyLMU" / Twitter This is precisely why the U.S. government – no doubt, in partnership with lesser financial hitmen like the ECB and BOJ – will do ANYTHING to prevent it from occurring…or, at the least, being highly successful. In other words, a heavily oversubscribed offering is likely viewed, rightfully so, as a major “National Security Issue,” given what might ensue GLOBALLY in such an event. To that end, Congress just proposed the “Accountability for Cryptocurrency in El Salvador” Act, or “ACES” - unfathomably, ADMITTING so much. Yes, the Big Bad USA is actually SCARED of little old El Salvador! “El Salvador’s adoption of Bitcoin as legal tender raises significant concerns about the economic stability and financial integrity of a vulnerable U.S. trading partner in Central America.” “This new policy has the potential to weaken U.S. sanctions policy, empowering malign actors like China and organized criminal organizations. Our bipartisan legislation seeks greater clarity on El Salvador’s policy and requires the administration to mitigate potential risk to the U.S. financial system.” “El Salvador recognizing Bitcoin as official currency opens the door for money laundering cartels and undermines U.S. interests.” “If the United States wishes to combat money laundering and preserve the role of the dollar as a reserve currency of the world, we must tackle this issue head on.” To which, the George Washington of our time, Nayib Bukele, responded in a manner few would even dream of to his primary creditor (via its control of the IMF). The reason being, he KNOWS Bitcoin will defeat the dollar, it’s just a matter of time. Nayib Bukele 🇸🇻 on Twitter: "OK boomers… You have 0 jurisdiction on a sovereign and independent nation. We are not your colony, your back yard or your front yard. Stay out of our internal affairs. Don’t try to control something you can’t control 😉 https://t.co/pkejw6dtYn" / Twitter As I have said for years, I don’t just believe, but KNOW Bitcoin will be the next global reserve currency – the only question being, WHEN. Given the incredible pace of its growth, adoption, and catalysts, it could actually occur as soon as THIS YEAR, in my view. However, if the El Salvador Volcano Bond issuance is NOT a major success, it could push the timetable off another year or two – which, in a world SUFFERING from accelerating inflation and tyranny, is just not acceptable. So, to the entire global financial community – from billionaires, to institutions, governments and small retail investors – I IMPLORE you to unite in the common goal of making this the most successful bond issuance of all time. If this occurs, you will not only hold the likely best performing bond of all time, but help the world be a MUCH better place, MUCH sooner than anyone could have imagined!
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title2/18/22 - Andy Hoffman - CryptoGoldCentral.com - GLOBAL FINANCIAL COMMUNITY UNITE – IN MASSIVELY OVERSUBSCRIBING EL SALVADOR’S VOLCANO BONDS!
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      "body": "We are living on the cusp of financial history, a prospect exciting as it is terrifying. To wit, the next 12-18 months could represent the most politically, socially, and economically transformative period EVER. \n\nIn my case, it’s remarkable to think of the “front row” circumstance of my life - having been born in 1970, less than a year before (what remained of) the gold standard was dissolved; taken an interest in sound money in 2002, subsequently spending 15 years as a leading Precious Metals advocate. And, due to my position in that space, finding Bitcoin in 2016 - becoming not just a significant investor, but a leading advocate. \n\nIn other words, my life has coincided with the beginning of the end of fiat money; and now, potentially, the end. No one could have even imagined it could happen so quickly, but that’s the beauty of technological progress – as once something revolutionary is invented; like the internet - and now, Bitcoin; the revolution it inspires is often shortly behind.\n\nRegarding money, it has been controlled by “men with guns” since the Stone Age; i.e., a small group of men deciding on what was money, how much was produced, and who should receive it. \n\nFiat currency, invented 1,000 years ago in China, was a major technological advancement – in that it made trade more efficient. However, it did not resolve the primary, age-old monetary problems. In other words, while the “guns” the powerful men wielded were less deadly, their power to control the money was equally so. \n\nAll fiat currencies ultimately collapse - as by definition, due to limitless supply, and incentive of those controlling it to hyperinflate - they are Ponzi schemes. However, the invention of the computer in the 1960s enabled THIS Ponzi scheme to last much longer than in the past, especially after the 1971 decision to abandon the gold standard. To wit, for the first time in history, ALL nations’ currencies were unbacked – with ONE nation, the United States, given the privilege of controlling EVERYTHING.\n\nThe subsequent five decades featured unparalleled global monetary abuse – so much so, the world is amidst its worst-ever inflationary spiral, featuring historic wealth inequality, capital misallocation, and political mistrust. Not only has monetary expansion put the world at the edge of financial ruin, but market manipulation – via computer algorithms in ALL financial markets - has enabled a handful of sociopaths to plunder trillions from “the 99%.”\n\nTo that end, I’ve spent the past 20 years very loudly vocalizing my belief that the system was on its last legs. I didn’t know HOW it would end, but it’s been very clear – particularly since the hyperinflationary response to the 2008 financial crisis (caused by the hyperinflationary response to the 2000 dotcom bubble crisis), that SOMETHING was going to catalyze its demise.\n\nUntil recently, the only “weapon” the system possessed to threaten fiat dominance – aside from its inevitable self-destruction – was the threat of a return to the gold standard. However, before Bitcoin was even conceived, gold’s usefulness as a monetary asset was declining, given its lack of actual monetary properties; general monetary disuse; and ultimately, lack of anti-fragility, exploited by limitless dilution in the “paper gold” market. \n\nIf Bitcoin hadn’t been invented, perhaps I’d have spent another 15 years tilting at Precious Metal windmills, hoping for the hyperinflationary breakdown that would “make me rich” at the expense of a dangerous, miserable world…which today, cretins like Peter Schiff are praying for with all their might.\n\nHowever, the miracle of Bitcoin, one of the most complex and impactful technologies ever changes everything; as not only is the destruction of fiat currency, in a far weakened state than ever before, inevitable, it may well be imminent…as in, potentially, the next 1-2 years.\n\nEven in my wildest dreams, when first investing in 2016 and writing of it daily – first, whilst still Marketing Director of Miles Franklin Precious Metals; and then, proprietor of CryptoGoldCentral.com, which launched in 2017; did I expect Bitcoin to spread so virally, so fast. However, it decidedly has, to the point that ALL FUD has been refuted - with billionaires, institutions, politicians, and even nation states joining the cause.\n\nWhich leads us to 2022 – when in my view, the “Final Battle” has commenced, of a war Bitcoin MUST, and WILL, win.\n\nBy the Final Battle, I mean that for all intents and purposes, all anti-Bitcoin combatants have been eliminated except the final, most deadly competitor…the U.S. government; i.e., possessor of for now, the “world’s reserve currency.”\n\nFirst it was sh-tcoiners like Roger Ver and Faketoshi, attempting to create “better” versions of Bitcoin – with deep pocketed partners like Jihan Wu and Calvin Ayre doing the dirty work of manipulating markets as they spread their lies. \n\nNext, it was the European Union, BIS, and all other supposedly “rich and powerful” financial institutions – aided by propaganda from well-known cantillionaires like Warren Buffett and Jamie Dimon…which initially impacted the public’s perception of Bitcoin, before ultimately falling on deaf ears.\n\nNext, the seemingly invincible Chinese government – which, having already banned crypto trading, took the draconian (and ultimately, suicidal) step of banning Bitcoin mining - sending 50% of the network’s hash rate abroad which, within a few months’ time, inspired a new ATH price AND hash rate.\n\nWhich leads us to the U.S. government – which, for several decades now, has operated as pettily, irresponsibly, selfishly, and vindictively as any in the world. Wrought with corruption, self-dealing, and stupidity, a seemingly unending stream of bad policy decisions has brought its status as “superpower” to the brink…and with it, its soon-to-be-hyperinflating “reserve currency.”\n\nTo that end, I strongly disagree with those who believe Bitcoin and the dollar can peacefully co-exist. Money has ALWAYS been a winner-take-all game, and to believe something as perfect as Bitcoin won’t completely usurp the cancerous dollar is in my view a sad attempt at sugar coating reality. This is why the U.S. government will fight Bitcoin to the death.\n\nFirst, it was “pot shots” like denying ETF applications – which devolved into actually approving the “futures ETFs” that are being used, like the GLD gold ETF, to suppress price. The only difference being, that whilst the amount of gold underlying GLD can never be audited, on-chain analytics show us that indeed, few are selling ACTUAL Bitcoin, as opposed to fake derivative products.\n\nHowever, now that inflation is raging out of control (and JUST GETTING STARTED); with Bitcoin’s hash rate having blown by the pre-China ban ATH; as billionaires, institutions, and even American politicians have taken strong pro-Bitcoin stances; the time has come when the Biden Administration will empty its chambers.\n\nI don’t think the fight will last long, as it has no viable weapons. Nothing can stop Bitcoin, and the blowback from within America itself will be too strong – starting with states like Texas, Wyoming, and Florida (with others like Colorado, New Hampshire, and Illinois joining the ranks this week alone). To that end, the fight may not last through 2022 – and certainly not 2023, when hype from the approaching 1Q 2024 halving alone could propel the Bitcoin price to unfathomably high levels.\n\nWhat I do expect, however (for what it’s worth), is that the algorithms that have been used to suppress Bitcoin since AT LEAST August 2020, when I first discovered them, will be utilized as powerfully as ever. I have written of them ad nauseum since, and all you have to do is watch how ETH controls BTC’s every price movement to realize they are REAL, and OMNIPRESENT.\n\n(1) Andy Hoffman🇸🇻 on Twitter: \"MY LATEST, MUST READ ARTICLE - \"The Giant Pink Elephant The Room That ALL Ignore – The “ETH Cartel” Algorithms That Have Destroyed #BTC Price Discovery Since 2020, and WILL Ultimately Be Overcome\"... https://t.co/2E7DuSQ8NA\" / Twitter\n\nTheir fatal flaw, of course, is that there is no logical reason for ETH to control BTC’s price – and thus, when Bitcoin adoption has the MAJOR stair-step higher I believe to be inevitable, trading volumes will expand so dramatically; whilst supply declines so sharply; they will become impossible to maintain. At which point, true price discovery will return – as unlike paper gold, the entire world will be aware that very little Bitcoin supply is actually available for sale.\n\nBeyond this, all that’s left are draconian attempts which, at best, will buy precious little more time – like, for example, freezing cryptocurrency accounts at brokerages, which is why you should NOT hold Bitcoin anywhere but in your own custody; at least, until it has destroyed the dollar, and taken over as world’s reserve currency. \n\nShould the U.S. government attempt such lunacy, it COULD cause a temporary slide in BTC’s price…but more likely, would yield a parabolic rise, as the entire world flees the “second world” U.S. monetary system.\n\n(https://twitter.com/jespow/status/1494462097161220104?t=8rt7wKZuFW7I_UZML3W_pg&s=03) \n\nMoreover, if they dared try to ban Bitcoin mining, they would likely face secession from numerous States; particularly Texas - on its own a major economic power, which has had an increasingly vocal secession movement for years. And again, this too could catalyze a parabolic BTC price rise, for the very same reason.\n\nThat said, the one area where they could, and are desperately trying to, cause near-term damage is in El Salvador – whose “Volcano Bonds” are scheduled to price around March 15th-21st. The proposed size is $1 billion, but rumor has it that if demand is there, it could be upsized to as much as $5 billion. Which, if it occurred, would not only bring $2.5 billion of fresh BTC buying to the market, but enable El Salvador to roll over its debt and dramatically expand the growth of its Bitcoin economy.\n\nIn my view, this could be the most dramatic event in financial history – potentially, launching a global, unstoppable adoption wave that could topple nation states and currencies before the next halving.\n\nAndy Hoffman🇸🇻 on Twitter: \"El Salvador's proposed Volcano Bond issuance represents a potential turning point in history. If successful, the world will become a better place. If not, I will lose all faith in humanity. @nayibbukele @maxkeiser @stacyherbert @SimonDixonTwitt @Excellion\" / Twitter\n\nAndy Hoffman🇸🇻 on Twitter: \"The global financial community has NO IDEA what is about to hit them. If you think a U.S. #Bitcoin ETF listing will be a big deal, wait until NEXT MONTH, you see the reaction when the El Salvador #BTC Volcano Bond is launched, to MASSIVE OVERSUBSCRIPTION. https://t.co/1RGqDWyLMU\" / Twitter\n\nThis is precisely why the U.S. government – no doubt, in partnership with lesser financial hitmen like the ECB and BOJ – will do ANYTHING to prevent it from occurring…or, at the least, being highly successful. In other words, a heavily oversubscribed offering is likely viewed, rightfully so, as a major “National Security Issue,” given what might ensue GLOBALLY in such an event.\n\nTo that end, Congress just proposed the “Accountability for Cryptocurrency in El Salvador” Act, or “ACES” - unfathomably, ADMITTING so much. Yes, the Big Bad USA is actually SCARED of little old El Salvador!\n\n“El Salvador’s adoption of Bitcoin as legal tender raises significant concerns about the economic stability and financial integrity of a vulnerable U.S. trading partner in Central America.” \n\n“This new policy has the potential to weaken U.S. sanctions policy, empowering malign actors like China and organized criminal organizations. Our bipartisan legislation seeks greater clarity on El Salvador’s policy and requires the administration to mitigate potential risk to the U.S. financial system.”\n\n“El Salvador recognizing Bitcoin as official currency opens the door for money laundering cartels and undermines U.S. interests.” \n\n“If the United States wishes to combat money laundering and preserve the role of the dollar as a reserve currency of the world, we must tackle this issue head on.”\n\nTo which, the George Washington of our time, Nayib Bukele, responded in a manner few would even dream of to his primary creditor (via its control of the IMF). The reason being, he KNOWS Bitcoin will defeat the dollar, it’s just a matter of time.\n\nNayib Bukele 🇸🇻 on Twitter: \"OK boomers… You have 0 jurisdiction on a sovereign and independent nation. We are not your colony, your back yard or your front yard. Stay out of our internal affairs. Don’t try to control something you can’t control 😉 https://t.co/pkejw6dtYn\" / Twitter\n\nAs I have said for years, I don’t just believe, but KNOW Bitcoin will be the next global reserve currency – the only question being, WHEN.\n\nGiven the incredible pace of its growth, adoption, and catalysts, it could actually occur as soon as THIS YEAR, in my view. However, if the El Salvador Volcano Bond issuance is NOT a major success, it could push the timetable off another year or two – which, in a world SUFFERING from accelerating inflation and tyranny, is just not acceptable.\n\nSo, to the entire global financial community – from billionaires, to institutions, governments and small retail investors – I IMPLORE you to unite in the common goal of making this the most successful bond issuance of all time. If this occurs, you will not only hold the likely best performing bond of all time, but help the world be a MUCH better place, MUCH sooner than anyone could have imagined!",
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2022/02/18 18:02:54
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2022/02/18 18:02:21
authorandyhoffman
bodyWe are living on the cusp of financial history, a prospect exciting as it is terrifying. To wit, the next 12-18 months could represent the most politically, socially, and economically transformative period in financial history. In my case, it’s remarkable to think of the “front row” circumstance of my life - having been born in 1970, less than a year before (what remained of) the gold standard was dissolved; taken an interest in sound money in 2002, subsequently spending 15 years as a leading Precious Metals advocate. And, due to my position in that space, found Bitcoin - becoming not just a significant investor, but a leading Bitcoin advocate in 2016. In other words, my life has coincided with the beginning of the end of fiat money; and now, potentially, the end. No one could have even imagined it could happen so quickly, but that’s the beauty of technological progress – as once something revolutionary is invented; like the internet - and now, Bitcoin; the revolution it inspires is often shortly behind. Regarding money, it has been controlled by “men with guns” since the Stone Age; i.e., a small group of men deciding on what was money, how much was produced, and who should receive it. Fiat currency, invented 1,000 years ago in China, was a major technology advancement – in that it made trade more efficient. However, it did not resolve the primary, age-old monetary problem. In other words, while the “guns” the powerful men wielded were less deadly, their power to control the money was equally so. All fiat currencies ultimately collapse - as by definition, due to limitless supply, and incentive of those controlling it to hyperinflate - they are Ponzi schemes. However, the invention of the computer in the 1960s enabled THIS Ponzi scheme to last much longer than in the past, especially after the 1971 decision to abandon the gold standard. In other words, for the first time in history, ALL nations’ currencies were unbacked – with ONE nation, the United States, given the privilege of controlling EVERYTHING. The subsequent five decades featured unparalleled global monetary abuse – so much so, the world is amidst its worst-ever inflationary spiral, featuring historic wealth inequality, capital misallocation, and political mistrust. Not only has monetary expansion put the world at the edge of financial ruin, but market manipulation – via computer algorithms in ALL financial markets - has enabled a handful of sociopaths to plunder trillions from “the 99%.” To that end, I’ve spent the past 20 years very loudly vocalizing my belief that the system was on its last legs. I didn’t know HOW it would end, but it’s been very clear – particularly since the hyperinflationary response to the 2008 financial crisis (in turn, caused by the hyperinflationary response to the 2000 dotcom bubble crisis), that SOMETHING was going to catalyze its demise. Until recently, the only “weapon” the system possessed to threaten fiat dominance – aside from its inevitable self-destruction – was the threat of a return to the gold standard. However, before Bitcoin was even conceived, gold’s usefulness as a monetary asset was declining, given its lack of actual monetary properties; general monetary disuse; and ultimately, its lack of anti-fragility, exploited by limitless dilution in the “paper gold” market. If Bitcoin hadn’t been invented, perhaps I’d have spent another 15 years tilting at Precious Metal windmills, hoping for the hyperinflationary breakdown that would “make me rich” at the expense of a dangerous, miserable world…which today, cretins like Peter Schiff are praying for with all their might. However, the miracle of Bitcoin, one of the most complex and impactful technologies ever changes everything; as not only is the destruction of fiat currency, in a far weakened state than ever before, inevitable, it may well be imminent…as in, potentially, the next 1-2 years. Even in my wildest dreams, when first investing in 2016 and writing of it daily – first, whilst still Marketing Director of Miles Franklin Precious Metals; and then, proprietor of CryptoGoldCentral.com, which launched in 2017; did I expect Bitcoin to spread so virally, so fast. However, it decidedly has, to the point that ALL FUD has been refuted - with billionaires, institutions, politicians, and even nation states joining the cause. Which leads us to 2022 – when in my view, the “Final Battle” has commenced, of a war Bitcoin MUST, and WILL, win. By the Final Battle, I mean that for all intents and purposes, all anti-Bitcoin combatants have been eliminated except the final, most deadly competitor…the U.S. government; i.e., possessor of for now, the “world’s reserve currency.” First it was sh-tcoiners like Roger Ver and Faketoshi, attempting to create “better” versions of Bitcoin – with deep pocketed partners like Jihan Wu and Calvin Ayre doing the dirty work of manipulating markets as they spread their lies. Next, it was the European Union, BIS, and all other supposedly “rich and powerful” financial institutions – aided by propaganda from well-known cantillionaires like Warren Buffett and Jamie Dimon…which initially impacted the public’s perception of Bitcoin, before ultimately falling on deaf ears. Next, the seemingly invincible Chinese government – which, having already banned crypto trading, took the draconian (and ultimately, suicidal) step of banning Bitcoin mining - sending 50% of the network’s hash rate abroad which, within a few months’ time, inspired a new ATH price AND hash rate. Which leads us to the U.S. government – which, for several decades now, has operated as pettily, irresponsibly, selfishly, and vindictively as any in the world. Wrought with corruption, self-dealing, and stupidity, a seemingly unending stream of bad policy decisions has brought its status as “superpower” to the brink…and with it, its soon-to-be-hyperinflating “reserve currency.” To that end, I strongly disagree with those who believe Bitcoin and the dollar can peacefully co-exist. Money has ALWAYS been a winner-take-all game, and to believe something as perfect as Bitcoin won’t completely usurp the cancerous dollar is in my view a sad attempt at sugar coating reality. This is why the U.S. government will fight Bitcoin to the death. First, it was “pot shots” like denying ETF applications – which devolved into actually approving the “futures ETFs” that are being used, like the GLD gold ETF, to suppress price. The only difference being, that whilst the amount of gold underlying GLD can never be audited, on-chain analytics show us that indeed, few are selling ACTUAL Bitcoin, as opposed to fake derivative products. However, now that inflation is raging out of control (and JUST GETTING STARTED); with Bitcoin’s hash rate having blown by the pre-China ban ATH; as billionaires, institutions, and even American politicians have taken strong pro-Bitcoin stances; the time has come when the Biden Administration will empty its chambers. I don’t think the fight will last long, as it has no viable weapons. Nothing can stop Bitcoin, and the blowback from within America itself will be too strong – starting with states like Texas, Wyoming, and Florida (with others like Colorado, New Hampshire, and Illinois joining the ranks this week alone). To that end, the fight may not last through 2022 – and certainly not 2023, when hype from the approaching 1Q 2024 halving alone could propel the Bitcoin price to unfathomably high levels. What I do expect, however (for what it’s worth), is that the algorithms that have been used to suppress Bitcoin since AT LEAST August 2020, when I first discovered them, will be utilized as powerfully as ever. I have written of them ad nauseum since, and all you have to do is watch how ETH controls BTC’s every price movement to realize they are REAL, and OMNIPRESENT. (1) Andy Hoffman🇸🇻 on Twitter: "MY LATEST, MUST READ ARTICLE - "The Giant Pink Elephant The Room That ALL Ignore – The “ETH Cartel” Algorithms That Have Destroyed #BTC Price Discovery Since 2020, and WILL Ultimately Be Overcome"... https://t.co/2E7DuSQ8NA" / Twitter Their fatal flaw, of course, is that there is no logical reason for ETH to control BTC’s price – and thus, when Bitcoin adoption has the MAJOR stair-step higher I believe to be inevitable, trading volumes will expand so dramatically; whilst supply declines so sharply; they will become impossible to maintain. At which point, true price discovery will return – as unlike paper gold, the entire world will be aware that very little Bitcoin supply is actually available for sale. Beyond this, all that’s left are draconian attempts which, at best, will buy precious little more time – like, for example, freezing cryptocurrency accounts at brokerages, which is why you should NOT hold Bitcoin anywhere but in your own custody; at least, until it has destroyed the dollar, and taken over as world’s reserve currency. Should the U.S. government attempt such lunacy, it COULD cause a temporary slide in BTC’s price…but more likely, would yield a parabolic rise, as the entire world flees the “second world” U.S. monetary system. (https://twitter.com/jespow/status/1494462097161220104?t=8rt7wKZuFW7I_UZML3W_pg&s=03) Moreover, if they dared try to ban Bitcoin mining, they would likely face secession from numerous States; particularly Texas - on its own a major economic power, which has had an increasingly vocal secession movement for years. And again, this too could catalyze a parabolic BTC price rise, for the very same reason. That said, the one area where they could, and are desperately trying to, cause near-term damage is in El Salvador – whose “Volcano Bonds” are scheduled to price around March 15th-21st. The proposed size is $1 billion, but rumor has it that if demand is there, it could be upsized to as much as $5 billion. Which, if it occurred, would not only bring $2.5 billion of fresh BTC buying to the market, but enable El Salvador to roll over its debt and dramatically expand the growth of its Bitcoin economy. In my view, this could be the most dramatic event in financial history – potentially, launching a global, unstoppable adoption wave that could topple nation states and currencies before the next halving. Andy Hoffman🇸🇻 on Twitter: "El Salvador's proposed Volcano Bond issuance represents a potential turning point in history. If successful, the world will become a better place. If not, I will lose all faith in humanity. @nayibbukele @maxkeiser @stacyherbert @SimonDixonTwitt @Excellion" / Twitter Andy Hoffman🇸🇻 on Twitter: "The global financial community has NO IDEA what is about to hit them. If you think a U.S. #Bitcoin ETF listing will be a big deal, wait until NEXT MONTH, you see the reaction when the El Salvador #BTC Volcano Bond is launched, to MASSIVE OVERSUBSCRIPTION. https://t.co/1RGqDWyLMU" / Twitter This is precisely why the U.S. government – no doubt, in partnership with lesser financial hitmen like the ECB and BOJ – will do ANYTHING to prevent it from occurring…or, at the least, being highly successful. In other words, a heavily oversubscribed offering is likely viewed, rightfully so, as a major “National Security Issue,” given what might ensue GLOBALLY in such an event. To that end, Congress just proposed the “Accountability for Cryptocurrency in El Salvador” Act, or “ACES” - unfathomably, ADMITTING so much. Yes, the Big Bad USA is actually SCARED of little old El Salvador! “El Salvador’s adoption of Bitcoin as legal tender raises significant concerns about the economic stability and financial integrity of a vulnerable U.S. trading partner in Central America.” “This new policy has the potential to weaken U.S. sanctions policy, empowering malign actors like China and organized criminal organizations. Our bipartisan legislation seeks greater clarity on El Salvador’s policy and requires the administration to mitigate potential risk to the U.S. financial system.” “El Salvador recognizing Bitcoin as official currency opens the door for money laundering cartels and undermines U.S. interests.” “If the United States wishes to combat money laundering and preserve the role of the dollar as a reserve currency of the world, we must tackle this issue head on.” To which, the George Washington of our time, Nayib Bukele, responded in a manner few would even dream of to his primary creditor (via its control of the IMF). The reason being, he KNOWS Bitcoin will defeat the dollar, it’s just a matter of time. Nayib Bukele 🇸🇻 on Twitter: "OK boomers… You have 0 jurisdiction on a sovereign and independent nation. We are not your colony, your back yard or your front yard. Stay out of our internal affairs. Don’t try to control something you can’t control 😉 https://t.co/pkejw6dtYn" / Twitter As I have said for years, I don’t just believe, but KNOW Bitcoin will be the next global reserve currency – the only question being, WHEN. Given the incredible pace of its growth, adoption, and catalysts, it could actually occur as soon as THIS YEAR, in my view. However, if the El Salvador Volcano Bond issuance is NOT a major success, it could push the timetable off another year or two – which, in a world SUFFERING from accelerating inflation and tyranny, is just not acceptable. So, to the entire global financial community – from billionaires, to institutions, governments and small retail investors – I IMPLORE you to unite in the common goal of making this the most successful bond issuance of all time. If this occurs, you will not only hold the likely best performing bond of all time, but help the world be a MUCH better place, MUCH sooner than anyone could have imagined!
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title2/18/22 - Andy Hoffman - CryptoGoldCentral.com - GLOBAL FINANCIAL COMMUNITY UNITE – IN MASSIVELY OVERSUBSCRIBING EL SALVADOR’S VOLCANO BONDS!
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      "body": "We are living on the cusp of financial history, a prospect exciting as it is terrifying. To wit, the next 12-18 months could represent the most politically, socially, and economically transformative period in financial history. \n\nIn my case, it’s remarkable to think of the “front row” circumstance of my life - having been born in 1970, less than a year before (what remained of) the gold standard was dissolved; taken an interest in sound money in 2002, subsequently spending 15 years as a leading Precious Metals advocate. And, due to my position in that space, found Bitcoin - becoming not just a significant investor, but a leading Bitcoin advocate in 2016. \n\nIn other words, my life has coincided with the beginning of the end of fiat money; and now, potentially, the end. No one could have even imagined it could happen so quickly, but that’s the beauty of technological progress – as once something revolutionary is invented; like the internet - and now, Bitcoin; the revolution it inspires is often shortly behind.\n\nRegarding money, it has been controlled by “men with guns” since the Stone Age; i.e., a small group of men deciding on what was money, how much was produced, and who should receive it. \n\nFiat currency, invented 1,000 years ago in China, was a major technology advancement – in that it made trade more efficient. However, it did not resolve the primary, age-old monetary problem. In other words, while the “guns” the powerful men wielded were less deadly, their power to control the money was equally so. \n\nAll fiat currencies ultimately collapse - as by definition, due to limitless supply, and incentive of those controlling it to hyperinflate - they are Ponzi schemes. However, the invention of the computer in the 1960s enabled THIS Ponzi scheme to last much longer than in the past, especially after the 1971 decision to abandon the gold standard. In other words, for the first time in history, ALL nations’ currencies were unbacked – with ONE nation, the United States, given the privilege of controlling EVERYTHING.\n\nThe subsequent five decades featured unparalleled global monetary abuse – so much so, the world is amidst its worst-ever inflationary spiral, featuring historic wealth inequality, capital misallocation, and political mistrust. Not only has monetary expansion put the world at the edge of financial ruin, but market manipulation – via computer algorithms in ALL financial markets - has enabled a handful of sociopaths to plunder trillions from “the 99%.”\n\nTo that end, I’ve spent the past 20 years very loudly vocalizing my belief that the system was on its last legs. I didn’t know HOW it would end, but it’s been very clear – particularly since the hyperinflationary response to the 2008 financial crisis (in turn, caused by the hyperinflationary response to the 2000 dotcom bubble crisis), that SOMETHING was going to catalyze its demise.\n\nUntil recently, the only “weapon” the system possessed to threaten fiat dominance – aside from its inevitable self-destruction – was the threat of a return to the gold standard. However, before Bitcoin was even conceived, gold’s usefulness as a monetary asset was declining, given its lack of actual monetary properties; general monetary disuse; and ultimately, its lack of anti-fragility, exploited by limitless dilution in the “paper gold” market. \n\nIf Bitcoin hadn’t been invented, perhaps I’d have spent another 15 years tilting at Precious Metal windmills, hoping for the hyperinflationary breakdown that would “make me rich” at the expense of a dangerous, miserable world…which today, cretins like Peter Schiff are praying for with all their might.\n\nHowever, the miracle of Bitcoin, one of the most complex and impactful technologies ever changes everything; as not only is the destruction of fiat currency, in a far weakened state than ever before, inevitable, it may well be imminent…as in, potentially, the next 1-2 years.\n\nEven in my wildest dreams, when first investing in 2016 and writing of it daily – first, whilst still Marketing Director of Miles Franklin Precious Metals; and then, proprietor of CryptoGoldCentral.com, which launched in 2017; did I expect Bitcoin to spread so virally, so fast. However, it decidedly has, to the point that ALL FUD has been refuted - with billionaires, institutions, politicians, and even nation states joining the cause.\n\nWhich leads us to 2022 – when in my view, the “Final Battle” has commenced, of a war Bitcoin MUST, and WILL, win.\n\nBy the Final Battle, I mean that for all intents and purposes, all anti-Bitcoin combatants have been eliminated except the final, most deadly competitor…the U.S. government; i.e., possessor of for now, the “world’s reserve currency.”\n\nFirst it was sh-tcoiners like Roger Ver and Faketoshi, attempting to create “better” versions of Bitcoin – with deep pocketed partners like Jihan Wu and Calvin Ayre doing the dirty work of manipulating markets as they spread their lies. \n\nNext, it was the European Union, BIS, and all other supposedly “rich and powerful” financial institutions – aided by propaganda from well-known cantillionaires like Warren Buffett and Jamie Dimon…which initially impacted the public’s perception of Bitcoin, before ultimately falling on deaf ears.\n\nNext, the seemingly invincible Chinese government – which, having already banned crypto trading, took the draconian (and ultimately, suicidal) step of banning Bitcoin mining - sending 50% of the network’s hash rate abroad which, within a few months’ time, inspired a new ATH price AND hash rate.\n\nWhich leads us to the U.S. government – which, for several decades now, has operated as pettily, irresponsibly, selfishly, and vindictively as any in the world. Wrought with corruption, self-dealing, and stupidity, a seemingly unending stream of bad policy decisions has brought its status as “superpower” to the brink…and with it, its soon-to-be-hyperinflating “reserve currency.”\n\nTo that end, I strongly disagree with those who believe Bitcoin and the dollar can peacefully co-exist. Money has ALWAYS been a winner-take-all game, and to believe something as perfect as Bitcoin won’t completely usurp the cancerous dollar is in my view a sad attempt at sugar coating reality. This is why the U.S. government will fight Bitcoin to the death.\n\nFirst, it was “pot shots” like denying ETF applications – which devolved into actually approving the “futures ETFs” that are being used, like the GLD gold ETF, to suppress price. The only difference being, that whilst the amount of gold underlying GLD can never be audited, on-chain analytics show us that indeed, few are selling ACTUAL Bitcoin, as opposed to fake derivative products.\n\nHowever, now that inflation is raging out of control (and JUST GETTING STARTED); with Bitcoin’s hash rate having blown by the pre-China ban ATH; as billionaires, institutions, and even American politicians have taken strong pro-Bitcoin stances; the time has come when the Biden Administration will empty its chambers.\n\nI don’t think the fight will last long, as it has no viable weapons. Nothing can stop Bitcoin, and the blowback from within America itself will be too strong – starting with states like Texas, Wyoming, and Florida (with others like Colorado, New Hampshire, and Illinois joining the ranks this week alone). To that end, the fight may not last through 2022 – and certainly not 2023, when hype from the approaching 1Q 2024 halving alone could propel the Bitcoin price to unfathomably high levels.\n\nWhat I do expect, however (for what it’s worth), is that the algorithms that have been used to suppress Bitcoin since AT LEAST August 2020, when I first discovered them, will be utilized as powerfully as ever. I have written of them ad nauseum since, and all you have to do is watch how ETH controls BTC’s every price movement to realize they are REAL, and OMNIPRESENT.\n\n(1) Andy Hoffman🇸🇻 on Twitter: \"MY LATEST, MUST READ ARTICLE - \"The Giant Pink Elephant The Room That ALL Ignore – The “ETH Cartel” Algorithms That Have Destroyed #BTC Price Discovery Since 2020, and WILL Ultimately Be Overcome\"... https://t.co/2E7DuSQ8NA\" / Twitter\n\nTheir fatal flaw, of course, is that there is no logical reason for ETH to control BTC’s price – and thus, when Bitcoin adoption has the MAJOR stair-step higher I believe to be inevitable, trading volumes will expand so dramatically; whilst supply declines so sharply; they will become impossible to maintain. At which point, true price discovery will return – as unlike paper gold, the entire world will be aware that very little Bitcoin supply is actually available for sale.\n\nBeyond this, all that’s left are draconian attempts which, at best, will buy precious little more time – like, for example, freezing cryptocurrency accounts at brokerages, which is why you should NOT hold Bitcoin anywhere but in your own custody; at least, until it has destroyed the dollar, and taken over as world’s reserve currency. \n\nShould the U.S. government attempt such lunacy, it COULD cause a temporary slide in BTC’s price…but more likely, would yield a parabolic rise, as the entire world flees the “second world” U.S. monetary system.\n\n(https://twitter.com/jespow/status/1494462097161220104?t=8rt7wKZuFW7I_UZML3W_pg&s=03) \n\nMoreover, if they dared try to ban Bitcoin mining, they would likely face secession from numerous States; particularly Texas - on its own a major economic power, which has had an increasingly vocal secession movement for years. And again, this too could catalyze a parabolic BTC price rise, for the very same reason.\n\nThat said, the one area where they could, and are desperately trying to, cause near-term damage is in El Salvador – whose “Volcano Bonds” are scheduled to price around March 15th-21st. The proposed size is $1 billion, but rumor has it that if demand is there, it could be upsized to as much as $5 billion. Which, if it occurred, would not only bring $2.5 billion of fresh BTC buying to the market, but enable El Salvador to roll over its debt and dramatically expand the growth of its Bitcoin economy.\n\nIn my view, this could be the most dramatic event in financial history – potentially, launching a global, unstoppable adoption wave that could topple nation states and currencies before the next halving.\n\nAndy Hoffman🇸🇻 on Twitter: \"El Salvador's proposed Volcano Bond issuance represents a potential turning point in history. If successful, the world will become a better place. If not, I will lose all faith in humanity. @nayibbukele @maxkeiser @stacyherbert @SimonDixonTwitt @Excellion\" / Twitter\n\nAndy Hoffman🇸🇻 on Twitter: \"The global financial community has NO IDEA what is about to hit them. If you think a U.S. #Bitcoin ETF listing will be a big deal, wait until NEXT MONTH, you see the reaction when the El Salvador #BTC Volcano Bond is launched, to MASSIVE OVERSUBSCRIPTION. https://t.co/1RGqDWyLMU\" / Twitter\n\nThis is precisely why the U.S. government – no doubt, in partnership with lesser financial hitmen like the ECB and BOJ – will do ANYTHING to prevent it from occurring…or, at the least, being highly successful. In other words, a heavily oversubscribed offering is likely viewed, rightfully so, as a major “National Security Issue,” given what might ensue GLOBALLY in such an event.\n\nTo that end, Congress just proposed the “Accountability for Cryptocurrency in El Salvador” Act, or “ACES” - unfathomably, ADMITTING so much. Yes, the Big Bad USA is actually SCARED of little old El Salvador!\n\n“El Salvador’s adoption of Bitcoin as legal tender raises significant concerns about the economic stability and financial integrity of a vulnerable U.S. trading partner in Central America.” \n\n“This new policy has the potential to weaken U.S. sanctions policy, empowering malign actors like China and organized criminal organizations. Our bipartisan legislation seeks greater clarity on El Salvador’s policy and requires the administration to mitigate potential risk to the U.S. financial system.”\n\n“El Salvador recognizing Bitcoin as official currency opens the door for money laundering cartels and undermines U.S. interests.” \n\n“If the United States wishes to combat money laundering and preserve the role of the dollar as a reserve currency of the world, we must tackle this issue head on.”\n\nTo which, the George Washington of our time, Nayib Bukele, responded in a manner few would even dream of to his primary creditor (via its control of the IMF). The reason being, he KNOWS Bitcoin will defeat the dollar, it’s just a matter of time.\n\nNayib Bukele 🇸🇻 on Twitter: \"OK boomers… You have 0 jurisdiction on a sovereign and independent nation. We are not your colony, your back yard or your front yard. Stay out of our internal affairs. Don’t try to control something you can’t control 😉 https://t.co/pkejw6dtYn\" / Twitter\n\nAs I have said for years, I don’t just believe, but KNOW Bitcoin will be the next global reserve currency – the only question being, WHEN.\n\nGiven the incredible pace of its growth, adoption, and catalysts, it could actually occur as soon as THIS YEAR, in my view. However, if the El Salvador Volcano Bond issuance is NOT a major success, it could push the timetable off another year or two – which, in a world SUFFERING from accelerating inflation and tyranny, is just not acceptable.\n\nSo, to the entire global financial community – from billionaires, to institutions, governments and small retail investors – I IMPLORE you to unite in the common goal of making this the most successful bond issuance of all time. If this occurs, you will not only hold the likely best performing bond of all time, but help the world be a MUCH better place, MUCH sooner than anyone could have imagined!",
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2022/02/01 13:40:21
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2022/02/01 13:39:33
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2022/02/01 13:36:33
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2022/02/01 13:36:00
authorandyhoffman
bodyThe Bitcoin Community, as a whole, is as intelligent as any I’ve come across in my three-decade career – and believe me, I’ve seen it all, having first owned BTC in late 2013, and actively participated since early 2016…at one point, in my World Crypto Network days, a relatively known well-known influencer. Since then, the space has become so large, my era of influence has passed – which is fine, as I have improved the lives of those who listened to me, having fought all manner of social “wars” in the process. To that end, I no longer need to do anything, so anything I do contribute – at this point, principally Tweets – is my desire to remain engaged in the most exciting, and world-changing technology of all time, Bitcoin. At this point, “precious” few realize that what is posted in my Twitter profile, “the FIRST well-known Gold advocate to switch to Bitcoin,” could not be truer – as from 2002-2016, I was one of THE most diehard, high profile members of the Precious Metals community. To that end, I became significantly famous for my work with GATA, the Gold Anti-Trust Action Committee, starting in 2004. So much so, that at GATA’s most well-known conference, at the Savoy in London in August 2011 (the week S&P downgraded the U.S. credit rating), Eric Sprott personally thanked me during his keynote speech. Following a long Wall Street career as a trader and analyst, which ended in 2005 when I decided to devote my full effort to Precious Metals, I wrote EVERY DAY about the manipulation of the gold and silver markets (downward) and stock market (upward), in greater detail than perhaps anyone EVER. So much so, I had names for each of the primary algorithms - which my daily readership, at its peak over 25,000 people in 2011-17, when I was Director of Marketing at Miles Franklin Precious Metals, could have easily profited from how regular they were…and still are, today! Historically, Wall Street has a blind spot for acknowledging manipulative trading activity – even highly repetitive, “sixth sigma” probability algorithms - as their existence renders “analysis” useless; particularly “technicians,” whose cluelessness and ineffectiveness is bad enough in non-rigged markets. However, what has always puzzled me is why those most negatively impacted by such algorithms typically act equally oblivious, to the point of hostility when pointed out. This is particularly so in Bitcoin, which has been suppressed by extremely blatant, 24/7 algorithms since at least 2017 – but PARTICULARLY since I first recognized what I call, for lack of a better description, the “ETH Cartel algos” in August 2020. The reason I gave them this name is because since (at least) then, they have acted to suppress Bitcoin RELATIVE TO Ethereum…as opposed to the pre-2020 algos, which simply sought to suppress Bitcoin ABSOLUTELY. With that introduction, let’s discuss how they work – though long-time readers know well, that I have Tweeted about them for the past 18 months. Before I get to specific “ETH Cartel algos,” consider the ABSOLUTE Bitcoin “suppression algos” (or as I call them, “demoralization algos”) witnessed 24/7 for as long as I can remember – with the ONLY exceptions being the rare times when a major BTC buyer emerges, taking offers on major exchanges…which typically lasts no more than 30 minutes, once a day. The algos looked different before 2020, with each exchange listed on Bitcoin Wisdom having its own, unique suppression algorithms – but rest assured, unless a pump was in progress, the algos were set up; for example, with relentless, large spoof offers; to scare holders into believing a crash was imminent. Post 2020, they look much different – with Coinbase being by far, the most blatant. I call it the “herk jerk” – in which, unlike ETH (which trades smoothly and naturally), BTC essentially NEVER trades two straight upticks. The herk jerk is now present 24/7, with no purpose other than to demoralize and frustrate BTC investors – and all you have to do to see is watch for five minutes. No complex skills are required to see it, or a “trained eye” as an “experienced trader.” Like all the algos I speak of here, as plain as the nose on your face, all day, every day. Quite literally, I could write a book describing every aspect of the Bitcoin suppression algorithms, which precisely as I did about Precious Metals in the 2000s and 2010s. Back then, I noted several specific “Cartel Rules” overarching the suppression operation – then, by the (clearly, U.S. government led) “Gold Cartel” and “Plunge Protection Team”; and today, by (in my view, U.S. government led) “ETH Cartel.” Admittedly, this time around, such leadership – i.e., motives, means, is a lot less clear. However, the fact that two of the biggest BTC plunges of the past five years; in December 2017, and November 2021, coincided nearly to the day with the launch of 1) CME futures trading; and 2) the Bitcoin “futures ETF” tells me all I need to know. Not to mention, the fact that the BTC price, going back to 2017, tends to decline perhaps 90% of the time when CME futures trading closes at 5pm EST – in what I used to deem “Early Asians selling”; but now know to be, as has been the case with paper gold trading for the past two decades, “non-organic” (i.e., manipulative). Regarding said “rules,” they couldn’t be easier to identify – and again, all it takes is watching for five minutes, on any exchange, to see them. But to best understand just how powerful the suppression is, recognize that what makes them so is algorithms that have been set up, 24/7 for the past 18+ months, to make sure that ALL BTC TICKS INSTANTANEOUSLY FOLLOW ETH, DIRECTIONALLY. Yes, for anyone that believes BTC trades freely – which is easy to believe if you do NOT have an ETH window up simultaneously – you couldn’t be more incorrect. As quite literally, BTC NEVER, EVER, EVER trades up without ETH trading up first – and conversely, ALWAYS, ALWAYS, ALWAYS trades down, instantaneously, when ETH trades down. And by instantaneously, I quite literally mean that there is no delay – as computer algos are set up to simultaneously hit BTC EVERY time ETH declines. Think about that. NO OTHER COIN follows ETH directly, including thousands that depend entirely on ETH to exist – but somehow, Bitcoin, which is more than twice ETH’s size, and isn’t even a direct competitor given that it’s primary use case is monetary, not transactional, is forced to follow EVERY ETH TICK. EVERY ONE, 24/7! On the upside, BTC follows ETH directionally about 99% of the time – as opposed to 100% on the downside…which is part and parcel to the overarching strategy of relentlessly raising ETH/BTC over time, starting from the 1/1/21 “D-Day” date when this effort appeared to be launched. At that time, for no particular reason – in fact, at a time when the initial “DeFi” wave was crashing – ETH/BTC suddenly jumped from .02 to .035 in less than a week. Thereafter, it has been steadily “stair-stepped” higher over time, with rising “floor” levels. This, as global BTC adoption has risen at least as fast, with a record hash rate today, amidst the most bullish fundamentals in BTC’s history. You are welcome to speculate on other reasons (than manipulation) why this occurs – like say, the current NFT mania. But this just doesn’t make sense to me, especially when you watch the maniacal, instantaneous buying that occurs whenever said ETH/BTC floors are approached…so much so, that as opposed to the past, when ETH/BTC tended to plunge through all price corrections, it now only does so until such floors (recently, .07) are reached. Back to said “rules,” they are quite simple, and essentially NEVER (as in, 99.9% of the time) violated. And BTW, the 0.1% of the time they are violated, it is typically by very small increments, in very small amounts of time…and are ALWAYS recouped shortly thereafter. 1. ETH Cartel Rule #1 – BTC is NEVER, EVER allowed to rise when ETH falls. Think about how insane that sounds, in two supposedly freely-traded markets, for two assets with completely different use cases, when the one HALF the other’s size is controlling ALL its moves. 2. ETH Cartel Rule #2 – ETH/BTC ALWAYS rises when ETH rises, ALWAYS! THIS is how ETH/BTC’s relentless rise is maintained, per above. In other words, the ONLY time ETH/BTC is allowed to fall is during major price plunges (with “floors” on how much it can fall); whilst EVERY time ETH rises, ETH/BTC rises along with it, INSTANTANEOUSLY. The degree of increase varies, but quite literally, if you see ETH/BTC is up, it 100% of the time means ETH is up, too. Trust me, you will NEVER see ETH/BTC fall when ETH rises, any more than you’d see ETH fall when BTC rises; or, for that matter, a unicorn or dragon. I could go on forever writing about FAR more nuances of how the algos work to suppress BTC’s price and interest, but no longer NEED to do so. Nor do I expect them to change any time soon (though in Bitcoin, anything is possible); and fortunately, I am so confident in Bitcoin’s future, I have no doubt it will rise dramatically over time, irrespective of if and when said manipulation is broken. Fortunately, the one thing Bitcoin has that gold and silver don’t, in terms of its ability to overcome “paper Bitcoin” related suppression, is on-chain metrics like illiquid supply…which this week, hit an ALL-TIME HIGH. Andy Hoffman on Twitter: "#Bitcoin's secret weapon, which will ultimately destroy the suppression algorithms." / Twitter Through such metrics, Bitcoin investors can clearly see how much “selling” has to do with ACTUAL physical selling, versus “paper Bitcoin” suppression schemes. In time, PARTICULARLY as we head into the 2024 halving; but likely, much sooner, as all it takes is one high-profile buyer to catalyze a renewed mania of physical buying; I expect a paper short squeeze unlike any seen in financial history, in BTC. It is simply too valuable, and scarce, and NEEDED by the world, to not happen, sooner rather than later. Nayib Bukele 🇸🇻 on Twitter: "There are more than 50 million millionaires in the world. Imagine when each one of them decides they should own at least ONE #Bitcoin But there will ever be only 21 million #Bitcoin No enough for even half of them. A gigantic price increase is just a matter of time." / Twitter That said, if circulating this piece helps just a few of the millions of deep-pocketed BTC investors and potential investors to understand what is going on; and thus, facilitate their decision to buy more, sooner, it will have been worth writing. Which is EXACTLY what I expect to happen, as the BTC community, in time (hopefully sooner, rather than later) does what I KNOW it will!
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      "body": "The Bitcoin Community, as a whole, is as intelligent as any I’ve come across in my  three-decade career – and believe me, I’ve seen it all, having first owned BTC in late 2013, and actively participated since early 2016…at one point, in my World Crypto Network days, a relatively known well-known influencer.\n\nSince then, the space has become so large, my era of influence has passed – which is fine, as I have improved the lives of those who listened to me, having fought all manner of social “wars” in the process. To that end, I no longer need to do anything, so anything I do contribute – at this point, principally Tweets – is my desire to remain engaged in the most exciting, and world-changing technology of all time, Bitcoin.\n\nAt this point, “precious” few realize that what is posted in my Twitter profile, “the FIRST well-known Gold advocate to switch to Bitcoin,” could not be truer – as from 2002-2016, I was one of THE most diehard, high profile members of the Precious Metals community. To that end, I became significantly famous for my work with GATA, the Gold Anti-Trust Action Committee, starting in 2004. So much so, that at GATA’s most well-known conference, at the Savoy in London in August 2011 (the week S&P downgraded the U.S. credit rating), Eric Sprott personally thanked me during his keynote speech.\n\nFollowing a long Wall Street career as a trader and analyst, which ended in 2005 when I decided to devote my full effort to Precious Metals, I wrote EVERY DAY about the manipulation of the gold and silver markets (downward) and stock market (upward), in greater detail than perhaps anyone EVER.  So much so, I had names for each of the primary algorithms - which my daily readership, at its peak over 25,000 people in 2011-17, when I was Director of Marketing at Miles Franklin Precious Metals, could have easily profited from how regular they were…and still are, today!\n\nHistorically, Wall Street has a blind spot for acknowledging manipulative trading activity – even highly repetitive, “sixth sigma” probability algorithms - as their existence renders “analysis” useless; particularly “technicians,” whose cluelessness and ineffectiveness is bad enough in non-rigged markets.  However, what has always puzzled me is why those most negatively impacted by such algorithms typically act equally oblivious, to the point of hostility when pointed out.\n\nThis is particularly so in Bitcoin, which has been suppressed by extremely blatant, 24/7 algorithms since at least 2017 – but PARTICULARLY since I first recognized what I call, for lack of a better description, the “ETH Cartel algos” in August 2020. The reason I gave them this name is because since (at least) then, they have acted to suppress Bitcoin RELATIVE TO Ethereum…as opposed to the pre-2020 algos, which simply sought to suppress Bitcoin ABSOLUTELY.\n\nWith that introduction, let’s discuss how they work – though long-time readers know well, that I have Tweeted about them for the past 18 months.\n\nBefore I get to specific “ETH Cartel algos,” consider the ABSOLUTE Bitcoin “suppression algos” (or as I call them, “demoralization algos”) witnessed 24/7 for as long as I can remember – with the ONLY exceptions being the rare times when a major BTC buyer emerges, taking offers on major exchanges…which typically lasts no more than 30 minutes, once a day.\n\nThe algos looked different before 2020, with each exchange listed on Bitcoin Wisdom having its own, unique suppression algorithms – but rest assured, unless a pump was in progress, the algos were set up; for example, with relentless, large spoof offers; to scare holders into believing a crash was imminent. Post 2020, they look much different – with Coinbase being by far, the most blatant. I call it the “herk jerk” – in which, unlike ETH (which trades smoothly and naturally), BTC essentially NEVER trades two straight upticks.\n\nThe herk jerk is now present 24/7, with no purpose other than to demoralize and frustrate BTC investors – and all you have to do to see is watch for five minutes. No complex skills are required to see it, or a “trained eye” as an “experienced trader.” Like all the algos I speak of here, as plain as the nose on your face, all day, every day.\n\nQuite literally, I could write a book describing every aspect of the Bitcoin suppression algorithms, which precisely as I did about Precious Metals in the 2000s and 2010s. Back then, I noted several specific “Cartel Rules” overarching the suppression operation – then, by the (clearly, U.S. government led) “Gold Cartel” and “Plunge Protection Team”; and today, by (in my view, U.S. government led) “ETH Cartel.” \n\nAdmittedly, this time around, such leadership – i.e., motives, means, is a lot less clear. However, the fact that two of the biggest BTC plunges of the past five years; in December 2017, and November 2021, coincided nearly to the day with the launch of 1) CME futures trading; and 2) the Bitcoin “futures ETF” tells me all I need to know. \n\nNot to mention, the fact that the BTC price, going back to 2017, tends to decline perhaps 90% of the time when CME futures trading closes at 5pm EST – in what I used to deem “Early Asians selling”; but now know to be, as has been the case with paper gold trading for the past two decades, “non-organic” (i.e., manipulative).\n \nRegarding said “rules,” they couldn’t be easier to identify – and again, all it takes is watching for five minutes, on any exchange, to see them. But to best understand just how powerful the suppression is, recognize that what makes them so is algorithms that have been set up, 24/7 for the past 18+ months, to make sure that ALL BTC TICKS INSTANTANEOUSLY FOLLOW ETH, DIRECTIONALLY. \n\nYes, for anyone that believes BTC trades freely – which is easy to believe if you do NOT have an ETH window up simultaneously – you couldn’t be more incorrect. As quite literally, BTC NEVER, EVER, EVER trades up without ETH trading up first – and conversely, ALWAYS, ALWAYS, ALWAYS trades down, instantaneously, when ETH trades down. And by instantaneously, I quite literally mean that there is no delay – as computer algos are set up to simultaneously hit BTC EVERY time ETH declines.\n\nThink about that. NO OTHER COIN follows ETH directly, including thousands that depend entirely on ETH to exist – but somehow, Bitcoin, which is more than twice ETH’s size, and isn’t even a direct competitor given that it’s primary use case is monetary, not transactional, is forced to follow EVERY ETH TICK. EVERY ONE, 24/7!\n\nOn the upside, BTC follows ETH directionally about 99% of the time – as opposed to 100% on the downside…which is part and parcel to the overarching strategy of relentlessly raising ETH/BTC over time, starting from the 1/1/21 “D-Day” date when this effort appeared to be launched. \n\nAt that time, for no particular reason – in fact, at a time when the initial “DeFi” wave was crashing – ETH/BTC suddenly jumped from .02 to .035 in less than a week. Thereafter, it has been steadily “stair-stepped” higher over time, with rising “floor” levels. This, as global BTC adoption has risen at least as fast, with a record hash rate today, amidst the most bullish fundamentals in BTC’s history.\n\nYou are welcome to speculate on other reasons (than manipulation) why this occurs – like say, the current NFT mania. But this just doesn’t make sense to me, especially when you watch the maniacal, instantaneous buying that occurs whenever said ETH/BTC floors are approached…so much so, that as opposed to the past, when ETH/BTC tended to plunge through all price corrections, it now only does so until such floors (recently, .07) are reached.\n\nBack to said “rules,” they are quite simple, and essentially NEVER (as in, 99.9% of the time) violated. And BTW, the 0.1% of the time they are violated, it is typically by very small increments, in very small amounts of time…and are ALWAYS recouped shortly thereafter.\n\n1.\tETH Cartel Rule #1 – BTC is NEVER, EVER allowed to rise when ETH falls. Think about how insane that sounds, in two supposedly freely-traded markets, for two assets with completely different use cases, when the one HALF the other’s size is controlling ALL its moves.\n\n2.\tETH Cartel Rule #2 – ETH/BTC ALWAYS rises when ETH rises, ALWAYS! THIS is how ETH/BTC’s relentless rise is maintained, per above. In other words, the ONLY time ETH/BTC is allowed to fall is during major price plunges (with “floors” on how much it can fall); whilst EVERY time ETH rises, ETH/BTC rises along with it, INSTANTANEOUSLY. The degree of increase varies, but quite literally, if you see ETH/BTC is up, it 100% of the time means ETH is up, too. Trust me, you will NEVER see ETH/BTC fall when ETH rises, any more than you’d see ETH fall when BTC rises; or, for that matter, a unicorn or dragon.\n\nI could go on forever writing about FAR more nuances of how the algos work to suppress BTC’s price and interest, but no longer NEED to do so. Nor do I expect them to change any time soon (though in Bitcoin, anything is possible); and fortunately, I am so confident in Bitcoin’s future, I have no doubt it will rise dramatically over time, irrespective of if and when said manipulation is broken.\n\nFortunately, the one thing Bitcoin has that gold and silver don’t, in terms of its ability to overcome “paper Bitcoin” related suppression, is on-chain metrics like illiquid supply…which this week, hit an ALL-TIME HIGH. \n\nAndy Hoffman on Twitter: \"#Bitcoin's secret weapon, which will ultimately destroy the suppression algorithms.\" / Twitter\n\nThrough such metrics, Bitcoin investors can clearly see how much “selling” has to do with ACTUAL physical selling, versus “paper Bitcoin” suppression schemes. In time, PARTICULARLY as we head into the 2024 halving; but likely, much sooner, as all it takes is one high-profile buyer to catalyze a renewed mania of physical buying; I expect a paper short squeeze unlike any seen in financial history, in BTC.\n\nIt is simply too valuable, and scarce, and NEEDED by the world, to not happen, sooner rather than later.\n\nNayib Bukele 🇸🇻 on Twitter: \"There are more than 50 million millionaires in the world. Imagine when each one of them decides they should own at least ONE #Bitcoin But there will ever be only 21 million #Bitcoin No enough for even half of them. A gigantic price increase is just a matter of time.\" / Twitter\n\nThat said, if circulating this piece helps just a few of the millions of deep-pocketed BTC investors and potential investors to understand what is going on; and thus, facilitate their decision to buy more, sooner, it will have been worth writing. Which is EXACTLY what I expect to happen, as the BTC community, in time (hopefully sooner, rather than later) does what I KNOW it will!",
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2022/01/06 13:38:21
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2022/01/06 13:31:45
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2022/01/06 13:29:12
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2022/01/06 13:29:12
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2022/01/06 13:28:18
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2022/01/06 13:28:18
authorandyhoffman
bodyHaving been in Bitcoin this long (I “proudly” lost 1.0 BTC at Mt Gox); amidst a 32-year financial market career (impressive, as I’m still 51!); nothing shocks me anymore, as I can confidently say I have “seen it all.” And when it comes to Bitcoin, the two things you can be sure of are that 1) it ALWAYS rises over time; and 2) will make you miserable every step of the way. To wit, BTC NEVER wins technical battles, NEVER holds support, and nearly NEVER rises materially during Asian hours. Moreover, the entire financial establishment – plus most of the crypto community, for various reasons – HATES its “boring” and “threatening” existence. Consequently, every manner of “suppressive” and “demoralizing” algorithms have been created to prevent it from rising. Until recently, ALL politicians spoke out against it; whilst evil, destructive agencies like the Fed and SEC (and Chinese government) have done EVERYTHING in their power to stop it. This, as hundreds of sh-tcoiners – like Faketoshi and Roger Ver – have tried to prove their new, centralized versions were better…which cumulatively, have created a perpetual state of FUD for the media and haters to feast on. Throw in Bitcoin’s inherent volatility – particularly so, during illiquid periods of the world’s only 24/7 market – and you can see why ONLY a true HODLing strategy works…one, I might add, that avoids altcoins entirely, as they are not only 99% pump and dumps, but VASTLY riskier and more volatile. Last, but far from least, are the dangers posed by listening to the legions of “TA gurus” and “crypto experts” – most of whom, are either selling subscriptions or paid to shill altcoins – who speak confidently (most of them, with little or no experience) but have not a clue what they are talking about…particularly in crypto - BY FAR the most volatile, unpredictable asset class of all time. As for what we are witnessing today, the BTC decline (currently, 18%) is no more uncommon than other “crashes” of recent years – including the “massive” ones last year of 31% (January), 26% (February), 18% (March), 29% (April), 51% (May), 29% (June), 25% (September), 15% (October), 22% (November), and 27% (December) – which irrespective, couldn’t prevent BTC from ending 2021 58% higher than the end of 2020. This, amidst a fundamental backdrop as bullish as at ANY time in Bitcoin’s history – that frankly, has rendered ALL FUD attempts meaningless. Consider that last year, 50% of Bitcoin’s hash rate was eliminated in a matter of weeks by the Chinese ban on mining – which frankly, was in my view a POSITIVE development. So much so, no one with any real knowledge of Bitcoin could care less about – which is why “illiquid supply” continued to rise all year; prices returned to a new ATH five months later; and hash rate fully recovered to a new ATH THIS WEEK. Yes, the SEC is doing its best to delay the inevitable price explosion a REAL Bitcoin ETF would bring – instead, for the “safety of investors,” approving dangerous, leveraged futures ETFs to ensure that like December 2017, when they “protected” investors by allowing futures trading, prices would crash immediately thereafter…which, like December 2017, will also prove fleeting. The reason being, that illiquid supply will continue to rise as more and more institutions AND retail investors pour into the market – until ultimately, we reach a tipping point where ALL financialized attempts to suppress price are overwhelmed…which in my view, will arrive sometime later this year. As for the current “hook” as to why we’re supposed to be scared this time around, you really couldn’t make this stuff up if you tried. At least in March 2020, there was widespread uncertainty about what the COVID outbreak might bring – for a few short days, until it became clear that it would simply mean more money printing…as if that hasn’t been the response to ALL financial crises, since the day the Fed was created 108 years ago. Today, we’re told to fear that the Fed will raise rates from ZERO to perhaps 1% - MAYBE, market condition dependent - at a time when debt and asset markets are exploding; the economy is collapsing; and the political and social environments worldwide, NEVER more unstable. This, as real-time examples of hyperinflation – like Venezuela, Lebanon, and Turkey – are right in front of our faces. And LOL, “taper” the relentless explosion of its balance sheet, despite the fact that even the suggestion of such a cataclysmically suicidal event immediately crashes the most overvalued financial markets of all time…which in turn, were created by the very hyperinflationary policies that can NEVER be tapered. And BTW, for all the “fear” that “deflation” will kick in as a result - consider that today, crude oil and lumber prices are soaring…and I assure you, prices at the supermarket didn’t decline a single red cent. To the contrary, REAL WORLD merchants, vendors and traders know full well that the dollar’s value – and Fed’s credibility – is in all-out collapse; and thus, it won’t be long before this week’s “deflation” narrative returns to hyperinflation. BTW, for all of Peter Schiff’s self-serving, and relentlessly failing, attacks on Bitcoin, Precious Metals are performing just as badly as ANY asset (silver and miners are down as much as BTC!); so again, as I have shouted from the rooftops for five years, if you have ANY gold, silver or miners, SELL THEM NOW, for Bitcoin…as silver has ALREADY lost its monetary premium, and gold will shortly, too. As for Bitcoin, the ONLY issue I have had for the past 1.5 years, is the fact that the aforementioned algos include hideous, market-suppressing ones that cause EVERY BTC tick, directionally, to follow ETH. This, whilst ETH has relentlessly risen against BTC since, nearly to the day, 1/1/21, amidst the latest “altcoin season” madness of believing that not only do NFT’s, DeFi, and other pie in the sky, hyper speculative markets have a brighter future than the REAL MONEY Bitcoin represents, but that the centralized, self-serving manipulations of ETH’s protocol to give the IMPRESSION of increased scarcity is a maintainable business plan. It’s not, I assure you – and in time, these algorithms WILL be spectacularly broken, it’s just a matter of when. The only problem being, guessing when “when” will be. Will it be this year? Who knows, but I suspect so. But irrespective, if you keep HODLing Bitcoin, you CANNOT LOSE over time – and eventually, will be rewarded instantaneously, when Bitcoin decides to introduce its power with a BANG, to the financial world at large, and particularly the altcoin universe.
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titleANDY HOFFMAN, CRYPTOGOLDCENTRAL.COM (1/05) - Thoughts About the Current, Comically Stupid and Unsustainable Bitcoin Correction
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      "body": "Having been in Bitcoin this long (I “proudly” lost 1.0 BTC at Mt Gox); amidst a 32-year financial market career (impressive, as I’m still 51!); nothing shocks me anymore, as I can confidently say I have “seen it all.” And when it comes to Bitcoin, the two things you can be sure of are that 1) it ALWAYS rises over time; and 2) will make you miserable every step of the way.\n\nTo wit, BTC NEVER wins technical battles, NEVER holds support, and nearly NEVER rises materially during Asian hours.  Moreover, the entire financial establishment – plus most of the crypto community, for various reasons – HATES its “boring” and “threatening” existence.  Consequently, every manner of “suppressive” and “demoralizing” algorithms have been created to prevent it from rising.\n\nUntil recently, ALL politicians spoke out against it; whilst evil, destructive agencies like the Fed and SEC (and Chinese government) have done EVERYTHING in their power to stop it.  This, as hundreds of sh-tcoiners – like Faketoshi and Roger Ver – have tried to prove their new, centralized versions were better…which cumulatively, have created a perpetual state of FUD for the media and haters to feast on.\n\nThrow in Bitcoin’s inherent volatility – particularly so, during illiquid periods of the world’s only 24/7 market – and you can see why ONLY a true HODLing strategy works…one, I might add, that avoids altcoins entirely, as they are not only 99% pump and dumps, but VASTLY riskier and more volatile.\n\nLast, but far from least, are the dangers posed by listening to the legions of “TA gurus” and “crypto experts” – most of whom, are either selling subscriptions or paid to shill altcoins – who speak confidently (most of them, with little or no experience) but have not a clue what they are talking about…particularly in crypto - BY FAR the most volatile, unpredictable asset class of all time.\n\nAs for what we are witnessing today, the BTC decline (currently, 18%) is no more uncommon than other “crashes” of recent years – including the “massive” ones last year of 31% (January), 26% (February), 18% (March), 29% (April), 51% (May), 29% (June), 25% (September), 15% (October), 22% (November), and 27% (December) – which irrespective, couldn’t prevent BTC from ending 2021 58% higher than the end of 2020. This, amidst a fundamental backdrop as bullish as at ANY time in Bitcoin’s history – that frankly, has rendered ALL FUD attempts meaningless.\n\nConsider that last year, 50% of Bitcoin’s hash rate was eliminated in a matter of weeks by the Chinese ban on mining – which frankly, was in my view a POSITIVE development. So much so, no one with any real knowledge of Bitcoin could care less about – which is why “illiquid supply” continued to rise all year; prices returned to a new ATH five months later; and hash rate fully recovered to a new ATH THIS WEEK.\n\nYes, the SEC is doing its best to delay the inevitable price explosion a REAL Bitcoin ETF would bring – instead, for the “safety of investors,” approving dangerous, leveraged futures ETFs to ensure that like December 2017, when they “protected” investors by allowing futures trading, prices would crash immediately thereafter…which, like December 2017, will also prove fleeting. The reason being, that illiquid supply will continue to rise as more and more institutions AND retail investors pour into the market – until ultimately, we reach a tipping point where ALL financialized attempts to suppress price are overwhelmed…which in my view, will arrive sometime later this year.\n\nAs for the current “hook” as to why we’re supposed to be scared this time around, you really couldn’t make this stuff up if you tried. At least in March 2020, there was widespread uncertainty about what the COVID outbreak might bring – for a few short days, until it became clear that it would simply mean more money printing…as if that hasn’t been the response to ALL financial crises, since the day the Fed was created 108 years ago.\n\nToday, we’re told to fear that the Fed will raise rates from ZERO to perhaps 1% - MAYBE, market condition dependent - at a time when debt and asset markets are exploding; the economy is collapsing; and the political and social environments worldwide, NEVER more unstable. This, as real-time examples of hyperinflation – like Venezuela, Lebanon, and Turkey – are right in front of our faces. And LOL, “taper” the relentless explosion of its balance sheet, despite the fact that even the suggestion of such a cataclysmically suicidal event immediately crashes the most overvalued financial markets of all time…which in turn, were created by the very hyperinflationary policies that can NEVER be tapered. \n\nAnd BTW, for all the “fear” that “deflation” will kick in as a result - consider that today, crude oil and lumber prices are soaring…and I assure you, prices at the supermarket didn’t decline a single red cent. To the contrary, REAL WORLD merchants, vendors and traders know full well that the dollar’s value – and Fed’s credibility – is in all-out collapse; and thus, it won’t be long before this week’s “deflation” narrative returns to hyperinflation.\n\nBTW, for all of Peter Schiff’s self-serving, and relentlessly failing, attacks on Bitcoin, Precious Metals are performing just as badly as ANY asset (silver and miners are down as much as BTC!); so  again, as I have shouted from the rooftops for five years, if you have ANY gold, silver or miners, SELL THEM NOW, for Bitcoin…as silver has ALREADY lost its monetary premium, and gold will shortly, too.\n\nAs for Bitcoin, the ONLY issue I have had for the past 1.5 years, is the fact that the aforementioned algos include hideous, market-suppressing ones that cause EVERY BTC tick, directionally, to follow ETH. This, whilst ETH has relentlessly risen against BTC since, nearly to the day, 1/1/21, amidst the latest “altcoin season” madness of believing that not only do NFT’s, DeFi, and other pie in the sky, hyper speculative markets have a brighter future than the REAL MONEY Bitcoin represents, but that the centralized, self-serving manipulations of ETH’s protocol to give the IMPRESSION of increased scarcity is a maintainable business plan. \n\nIt’s not, I assure you – and in time, these algorithms WILL be spectacularly broken, it’s just a matter of when.  The only problem being, guessing when “when” will be. Will it be this year? Who knows, but I suspect so. But irrespective, if you keep HODLing Bitcoin, you CANNOT LOSE over time – and eventually, will be rewarded instantaneously, when Bitcoin decides to introduce its power with a BANG, to the financial world at large, and particularly the altcoin universe.",
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2022/01/01 20:59:42
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2021/12/31 20:52:36
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2021/12/31 20:52:36
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andyhoffmanclaimed reward balance: 1.508 HBD, 3.457 HP
2021/12/30 23:18:30
accountandyhoffman
reward hbd1.508 HBD
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reward vests5611.281179 VESTS
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2021/12/26 12:34:39
authorandyhoffman
bodyOver a three-decade financial market career, the primary reason my cumulative annual return (41%, since I started investing in 1999) has been in the world’s top 1% has been my ability to spot major trends early, and adapt investment theses when warranted. This, even if it meant a 180 degree shift from a previous, long-held belief that could, and likely would, make enemies of those who stuck with my previous views. It happened at the dotcom peak, when I sold everything in early 2000; in early 2007, when I sold a significant portion of my holdings near the peak of a raging bull market; spring 2011, when despite soaring gold and silver prices. I sold all my mining stocks; and 2016-17, when despite being a leader of the global Precious Metal community for 15 years, I sold all my gold and silver for Bitcoin. It’s happening again now, though in this case it won’t change my liquid portfolio composition (98% BTC); but instead, my increasingly bullish view – SELECTIVELY, of course - of the altcoin market. The reason being, that I FINALLY understand the enormity of the Metaverse opportunity…and with it, why the BTC price follows ETH, decidedly NOT because anything is “wrong” with BTC. In September 2017, the week I launched CryptoGoldCentral.com, I was nearly 100% in Bitcoin, with a smattering of Litecoin, which I foolishly believed could be “silver to Bitcoin’s gold.” That said, the space was so novel, I found it hard to believe there wouldn’t be material uses for cryptocurrency other than the monetary asset Bitcoin aspired to be. To wit, “the process will take many years, but make no mistake it’s commenced. And when the movement matures; which, due to the speed technology develops, and spreads, could be less than five years; today’s $100-$150 billion cryptocurrency market capitalization will be many multiples higher; very likely, above $1 trillion. Heck, hyperinflating Central banks may well print $1 trillion of incremental fiat toilet paper by then!” https://cryptogoldcentral.com/2017/09/15/trillions-will-enter-the-crypto-space-perhaps-half-in-bitcoin/ Of course, I had not a clue what such applications would be – only that they were inevitable due to the revolutionary improvement cryptocurrency could make to traditional financial market products. More so, that cryptocurrency could not only make capital markets more efficient; and long-term value storage (and appreciation) viable; but completely change the world’s political and social environments. As the crypto markets evolved, Bitcoin decidedly, unmercifully won the store of value battle, setting up what I believe will be a run at global reserve currency status within 2-3 years. No, that’s not a typo – as in 2021 dollars, I expect Bitcoin to be worth more than $1 million per coin by then. Which is why, no matter how my views change about the Metaverse, I have no intention of selling any Bitcoin, or materially reducing my current liquidity allocation of 98%. Not to mention, at age 51, I’m too old to have the same risk profile as in earlier times – particularly when, in my view, Bitcoin’s CURRENT reward/risk ratio is BY FAR, the most favorable in its 13-year history. https://twitter.com/Andy_Hoffman_CG/status/1473293081235570690 Since ETH emerged in 2017, the altcoin market has undergone massive transformations, typically ending in misery because 90%+ were pump and dump schemes to start with. However, as I personally learned when working with the dev teams of two altcoins in 2018-19, at least 10% are founded with good intentions, seeking to carve a niche that investors can embrace over the long-term. In the store of value space, all such attempts miserably failed. In other words, there will NEVER be a “silver to Bitcoin’s gold” - as NOTHING can replicate, or even challenge, Bitcoin’s first mover status. However, contrary to Maximalist dogma, Bitcoin CANNOT be everything to everyone. As money, it’s Total Addressable Market (TAM) is in the hundreds of trillions, and I firmly believe it will get there by decade’s end. However, as the “Digital Age” explodes globally, and assets of ALL kinds (not just monetary) go digital, I expect hundreds of altcoins to rise sharply, and some parabolically. This, with the tailwind of hyperinflation, as fiat currencies are summarily destroyed by suicidal Central banks. For the past 18 months, I have very vocally questioned WHY the Bitcoin price follows ETH tick for tick – via algorithms that clearly depict Ethereum’s growth opportunity relative to Bitcoin to be superior. The reasons being, that 1) I am trying to figure if I am “missing” something about Bitcoin relative to Ethereum; and 2) having watched, and very publicly chronicled Precious Metal price suppression for 15 years, I have developed a complex that no matter how “right” I am, I will somehow lose to thieving governments or other unforeseeable obstacles. This is why I have in the past year shifted from a passive, leery stance about Ethereum to fear, anger, and aggression – as in my view, there should be NO WAY the much smaller, much less stable ETH should lead BTC, given how powerful Bitcoin’s market share is; and oh yeah, the fact that BTC are not in the slightest way “competitors.” https://twitter.com/DylanLeClair_/status/1474064920069251074 Irrespective of my new revelation on the Metaverse – which is as wildly bullish as my views of Bitcoin when I first started aggressively acquiring it in early 2016 – I STILL don’t understand why BTC follows ETH tick-for-tick; recognizing, of course, that the ETH/BTC ratio, whilst trending sharply upwards for more than a year, is subject to violent short- and long-term trend changes…that have NOTHING to do with ETH’s “competitiveness” versus Bitcoin, but the market’s cumulative view of its relative upside potential. Giving credit where credit is due, Adam Meister, who has been my most trusted confident, source of conviction, and in numerous cases colleague, has finally helped me see the light. The “BitcoinMeister,” as Maximalist as it comes from a portfolio standpoint (all BTC), is also one of the most open-minded crypto analysts – recognizing that whilst scams, pump and dumps, and DOA concepts dominate the altcoin landscape, some MAJOR, world-changing trends are evolving, too…that ultimately will produce (some already), some of the best performing assets in financial market history. The way I have always viewed Ethereum has mirrored the consensus view that my heavy exposure to the Maximalist community has fostered; i.e., it’s a “centralized,” pre-mined pump and dump whose sole purpose is facilitating other pump and dump scams. Particularly baffling to me have been the concepts of “DeFi” - as currently, no asset other than Bitcoin is truly decentralized (and certainly, none worthy of holding for monetary purposes); and NFT’s, given their limitless supply. However, in the big picture, ETH is clearly an asset created with noble purposes – which, like Bitcoin, has developed massive investor and development communities that will NOT go away (especially if ETH 2.0 is successful)…and likely, not shrink one bit. Yes, its evolution and maintenance have been “centralized” per se. However, the network is now so big, it is just as unassailable as Bitcoin. Plus, whilst many of the aforementioned applications will not work (with the vast majority of tokens going to zero), DeFi and NFTs are unquestionably here to stay – and like all crypto technologies, will inevitably develop into viable use cases at exponential rates. That said, the one area that REALLY interests me – and in my view, DOES possess a total addressable market as big or bigger than Bitcoin (kudos to Raoul Pal, one of the first legitimate analysts to conclude this) is the “Metaverse”; i.e., a network of hundreds, or even thousands, of social communities willing to transact in unique tokens as both currencies and stores-of-value…as well as Bitcoin, Ethereum, and other "non-Metaverse" coins. When I saw “Ready Player One” last year – which particularly interested me because when I was nine years old, was introduced to the Atari Adventure Easter Egg – I didn’t realize the concept was NOT pure fiction, given advancements in virtual gaming, AI, and crypto technology; not to mention, the mega-cloistering effect of governments’ cumulative, horrifying response to the COVID virus. Subsequently, watching the “Dueling Vipers” episode of the amazing Netflix series “Black Mirror” this month gave further insight into Metaverse applications (and addiction) – and more importantly, that such things are not only POSSIBLE, but occurring NOW. So, when earlier this week, whilst on vacation with my family in Key West, Adam posted this AMAZING, MUST LISTEN podcast about the Metaverse’s potential, I not only FINALLY understood what the (NON-MANIPULATED) market was saying about Ethereum, but that the total addressable market of a Metaverse-dominated social environment (cultivated by a decade of exponential growth in “linear” social media) is AT LEAST as big as global money itself. https://twitter.com/Andy_Hoffman_CG/status/1473289137004371969 So, whilst my liquidity allocation remains 98% Bitcoin, I’ve moved some of my 2% fiat allocation into selected Metaverse names – and would you believe it, STAKED them on Gemini. To that end, whilst I still believe strongly in the virtue holding one’s own keys (which I do 100% in Bitcoin), I recognize that given improved network and exchange security; an explosion of POLITICAL support; and the end of the “Cryptodividend Era” (forks, airdrops) ; I no longer think holding one’s own private keys has the same level of urgency. I continue to do so (via complex, unassailable multi-signature technology), but with each passing day look forward to the day when I can hold it as confidently at Gemini or Coinbase as stocks or bonds at Charles Schwab. Though the reward/risk profile of any given Metaverse token remains extremely high (in some cases, CONSIDERABLY higher than others), I now believe the Metaverse's Total Addressable Market (including NFTs, DeFi, pay-to-earn, and other applications) is AT LEAST as big as being the global reserve currency. To that end, I don’t believe there’s a chance Bitcoin will replace ALL fiat currency (though I do believe it’s store-of-value position is unassailable); but that cumulatively, cryptocurrency will completely envelop the legacy monetary and capital market regimes. To conclude, though Bitcoin’s reward/risk remains, BY FAR, the best in the cryptocurrency universe, I believe the upside potential for non-risk averse investors in the Metaverse space is AT LEAST as large…keeping in mind, Maximalists, that all investors do not have the same investment goals! Moreover, I believe that the entire crypto market is on the cusp – as in, NOW – of a parabolic adoption surge that will catalyze, in 2022, the most spectacular asset class explosion of all time. https://twitter.com/Andy_Hoffman_CG/status/1474042725502758917
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      "body": "Over a three-decade financial market career, the primary reason my cumulative annual return (41%, since I started investing in 1999) has been in the world’s top 1% has been my ability to spot major trends early, and adapt investment theses when warranted.  This, even if it meant a 180 degree shift from a previous, long-held belief that could, and likely would, make enemies of those who stuck with my previous views.\n\nIt happened at the dotcom peak, when I sold everything in early 2000; in early 2007, when I sold a significant portion of my holdings near the peak of a raging bull market; spring 2011, when despite soaring gold and silver prices. I sold all my mining stocks; and 2016-17, when despite being a leader of the global Precious Metal community for 15 years, I sold all my gold and silver for Bitcoin.\n\nIt’s happening again now, though in this case it won’t change my liquid portfolio composition (98% BTC); but instead, my increasingly bullish view – SELECTIVELY, of course - of the altcoin market. The reason being, that I FINALLY understand the enormity of the Metaverse opportunity…and with it, why the BTC price follows ETH, decidedly NOT because anything is “wrong” with BTC.\n\nIn September 2017, the week I launched CryptoGoldCentral.com, I was nearly 100% in Bitcoin, with a smattering of Litecoin, which I foolishly believed could be “silver to Bitcoin’s gold.” That said, the space was so novel, I found it hard to believe there wouldn’t be material uses for cryptocurrency other than the monetary asset Bitcoin aspired to be. \n\nTo wit, “the process will take many years, but make no mistake it’s commenced. And when the movement matures; which, due to the speed technology develops, and spreads, could be less than five years; today’s $100-$150 billion cryptocurrency market capitalization will be many multiples higher; very likely, above $1 trillion. Heck, hyperinflating Central banks may well print $1 trillion of incremental fiat toilet paper by then!”\n\nhttps://cryptogoldcentral.com/2017/09/15/trillions-will-enter-the-crypto-space-perhaps-half-in-bitcoin/\n\nOf course, I had not a clue what such applications would be – only that they were inevitable due to the revolutionary improvement cryptocurrency could make to traditional financial market products. More so, that cryptocurrency could not only make capital markets more efficient; and long-term value storage (and appreciation) viable; but completely change the world’s political and social environments.\n\nAs the crypto markets evolved, Bitcoin decidedly, unmercifully won the store of value battle, setting up what I believe will be a run at global reserve currency status within 2-3 years. No, that’s not a typo – as in 2021 dollars, I expect Bitcoin to be worth more than $1 million per coin by then. Which is why, no matter how my views change about the Metaverse, I have no intention of selling any Bitcoin, or materially reducing my current liquidity allocation of 98%. Not to mention, at age 51, I’m too old to have the same risk profile as in earlier times – particularly when, in my view, Bitcoin’s CURRENT reward/risk ratio is BY FAR, the most favorable in its 13-year history.\n\nhttps://twitter.com/Andy_Hoffman_CG/status/1473293081235570690\n\nSince ETH emerged in 2017, the altcoin market has undergone massive transformations, typically ending in misery because 90%+ were pump and dump schemes to start with. However, as I personally learned when working with the dev teams of two altcoins in 2018-19, at least 10% are founded with good intentions, seeking to carve a niche that investors can embrace over the long-term.\n\nIn the store of value space, all such attempts miserably failed. In other words, there will NEVER be a “silver to Bitcoin’s gold” - as NOTHING can replicate, or even challenge, Bitcoin’s first mover status.  However, contrary to Maximalist dogma, Bitcoin CANNOT be everything to everyone. As money, it’s Total Addressable Market (TAM) is in the hundreds of trillions, and I firmly believe it will get there by decade’s end. However, as the “Digital Age” explodes globally, and assets of ALL kinds (not just monetary) go digital, I expect hundreds of altcoins to rise sharply, and some parabolically. This, with the tailwind of hyperinflation, as fiat currencies are summarily destroyed by suicidal Central banks.\n\nFor the past 18 months, I have very vocally questioned WHY the Bitcoin price follows ETH tick for tick – via algorithms that clearly depict Ethereum’s growth opportunity relative to Bitcoin to be superior. The reasons being, that 1) I am trying to figure if I am “missing” something about Bitcoin relative to Ethereum; and 2) having watched, and very publicly chronicled Precious Metal price suppression for 15 years, I have developed a complex that no matter how “right” I am, I will somehow lose to thieving governments or other unforeseeable obstacles.\n\nThis is why I have in the past year shifted from a passive, leery stance about Ethereum to fear, anger, and aggression – as in my view, there should be NO WAY the much smaller, much less stable ETH should lead BTC, given how powerful Bitcoin’s market share is; and oh yeah, the fact that BTC are not in the slightest way “competitors.”\n\nhttps://twitter.com/DylanLeClair_/status/1474064920069251074\n\nIrrespective of my new revelation on the Metaverse – which is as wildly bullish as my views of Bitcoin when I first started aggressively acquiring it in early 2016 – I STILL don’t understand why BTC follows ETH tick-for-tick; recognizing, of course, that the ETH/BTC ratio, whilst trending sharply upwards for more than a year, is subject to violent short- and long-term trend changes…that have NOTHING to do with ETH’s “competitiveness” versus Bitcoin, but the market’s cumulative view of its relative upside potential.\n\nGiving credit where credit is due, Adam Meister, who has been my most trusted confident, source of conviction, and in numerous cases colleague, has finally helped me see the light. The “BitcoinMeister,” as Maximalist as it comes from a portfolio standpoint (all BTC), is also one of the most open-minded crypto analysts – recognizing that whilst scams, pump and dumps, and DOA concepts dominate the altcoin landscape, some MAJOR, world-changing trends are evolving, too…that ultimately will produce (some already), some of the best performing assets in financial market history.\n\nThe way I have always viewed Ethereum has mirrored the consensus view that my heavy exposure to the Maximalist community has fostered; i.e., it’s a “centralized,” pre-mined pump and dump whose sole purpose is facilitating other pump and dump scams. Particularly baffling to me have been the concepts of “DeFi” - as currently, no asset other than Bitcoin is truly decentralized (and certainly, none worthy of holding for monetary purposes); and NFT’s, given their limitless supply.\n\nHowever, in the big picture, ETH is clearly an asset created with noble purposes – which, like Bitcoin, has developed massive investor and development communities that will NOT go away (especially if ETH 2.0 is successful)…and likely, not shrink one bit. \n\nYes, its evolution and maintenance have been “centralized” per se.  However, the network is now so big, it is just as unassailable as Bitcoin. Plus, whilst many of the aforementioned applications will not work (with the vast majority of tokens going to zero), DeFi and NFTs are unquestionably here to stay – and like all crypto technologies, will inevitably develop into viable use cases at exponential rates.\n\nThat said, the one area that REALLY interests me – and in my view, DOES possess a total addressable market as big or bigger than Bitcoin (kudos to Raoul Pal, one of the first legitimate analysts to conclude this) is the “Metaverse”; i.e., a network of hundreds, or even thousands, of social communities willing to transact in unique tokens as both currencies and stores-of-value…as well as Bitcoin, Ethereum, and other \"non-Metaverse\" coins. \n\nWhen I saw “Ready Player One” last year – which particularly interested me because when I was nine years old, was introduced to the Atari Adventure Easter Egg – I didn’t realize the concept was NOT pure fiction, given advancements in virtual gaming, AI, and crypto technology; not to mention, the mega-cloistering effect of governments’ cumulative, horrifying response to the COVID virus.\n\nSubsequently, watching the “Dueling Vipers” episode of the amazing Netflix series “Black Mirror” this month gave further insight into Metaverse applications (and addiction) – and more importantly, that such things are not only POSSIBLE, but occurring NOW. \n\nSo, when earlier this week, whilst on vacation with my family in Key West, Adam posted this AMAZING, MUST LISTEN podcast about the Metaverse’s potential, I not only FINALLY understood what the (NON-MANIPULATED) market was saying about Ethereum, but that the total addressable market of a Metaverse-dominated social environment (cultivated by a decade of exponential growth in “linear” social media) is AT LEAST as big as global money itself. \n\nhttps://twitter.com/Andy_Hoffman_CG/status/1473289137004371969\n\nSo, whilst my liquidity allocation remains 98% Bitcoin, I’ve moved some of my 2% fiat allocation into selected Metaverse names – and would you believe it, STAKED them on Gemini. To that end, whilst I still believe strongly in the virtue holding one’s own keys (which I do 100% in Bitcoin), I recognize that given improved network and exchange security; an explosion of POLITICAL support; and the end of the “Cryptodividend Era” (forks, airdrops) ;  I no longer think holding one’s own private keys has the same level of urgency. I continue to do so (via complex, unassailable multi-signature technology), but with each passing day look forward to the day when I can hold it as confidently at Gemini or Coinbase as stocks or bonds at Charles Schwab.\n\nThough the reward/risk profile of any given Metaverse token remains extremely high (in some cases, CONSIDERABLY higher than others), I now believe the Metaverse's Total Addressable Market (including NFTs, DeFi, pay-to-earn, and other applications) is AT LEAST as big as being the global reserve currency. 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2021/12/26 00:20:27
authorpreparedwombat
bodyNo mention of Hive? 😏
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2021/12/26 00:19:48
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2021/12/25 23:28:48
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2021/12/25 23:28:48
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2021/12/25 14:08:54
authorandyhoffman
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2021/12/25 14:08:54
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2021/12/25 08:53:48
authorandyhoffman
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2021/12/25 08:53:48
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2021/12/25 08:53:48
authorandyhoffman
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2021/12/25 08:53:48
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2021/12/25 08:52:51
authorandyhoffman
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2021/12/25 08:52:51
authorandyhoffman
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2021/12/25 08:52:39
authorandyhoffman
pending payout10.892 HBD
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2021/12/25 08:52:39
authorandyhoffman
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2021/12/25 08:52:39
authorandyhoffman
pending payout10.880 HBD
permlinkbitcoin-is-my-rock-but-i-now-believe-the-metaverse-opportunity-though-far-riskier-has-at-least-as-much-upside-potential
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2021/12/25 08:52:39
authorandyhoffman
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voterarcange
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View Raw JSON Data
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2021/12/25 05:54:33
authorandyhoffman
pending payout10.455 HBD
permlinkbitcoin-is-my-rock-but-i-now-believe-the-metaverse-opportunity-though-far-riskier-has-at-least-as-much-upside-potential
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View Raw JSON Data
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Account Metadata

POSTING JSON METADATA
profile{"name":"Andy Hoffman","location":"USA","website":"https://cryptogoldcentral.com/"}
JSON METADATA
profile{"name":"Andy Hoffman","location":"USA","website":"https://cryptogoldcentral.com/"}
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}

Auth Keys

Owner
Single Signature
Public Keys
STM7margqeQ7ipytnbEZpJwWtEzLeSkBCYY2uWPPc4e41CcmgmhoJ1/1
Active
Single Signature
Public Keys
STM89io2XAvpPNP5inYB1R3yBv7SQHHv1nFgpKRkTjXj87fpFw3K41/1
Posting
Single Signature
Public Keys
STM7J67cwxERXcLdg97FMeFqrfr9iBJLuLygFnQz19MAaxVbS5ien1/1
App Permissions
Memo
STM5wZFAeXDzGaBFnzRwNA5raiswYLigvUjBzD5oJxBanVPtF3BZp
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}

Witness Votes

0 / 30
No active witness votes.
[]