Weekly Indicators all looking solid for Bitcoin
News of potential war, devaluation of USD, and trade tensions all very bullish fundamental factors. Fib extensions all lining up nearly exact. Bitcoin is moving fast. Fractal is repeating itself to a T so far.
Bitcoin is proving to provide a reserve for millennials that favors wealth preservation through deflation over the idea of building credit and being forced to consume in this fractional reserve phony fiat system we currently have in place. I see bitcoin as a realtime indicator of the dollar collapse. Bitcoin incentivizes hoarding which takes the necessity to capitalize on useless junk away. It is arguably the greenest and most ecofriendly technology for this very reason despite it’s wide range of critics and high renewable energy usage. Understandably so, many of these critics rely on the current system of endless waste and crap products to fund their livelihood.
With facebook creating it’s own cryptocurrency we will finally be presented with two paths. Centralization, control, safety... or Decentralization, freedom, and uncertainty. I’ll tell you right now, it’s hard enough that facebook advertises to me based on my recent conversations and google searches. I’d prefer to keep my financial data out of their hands and move to more user oriented social networks like the highly anticipated Voice platform. Steemit had a very good run but has since been hijacked by bots. Hopefully Voice has what it takes to sort this issue.
That said, there still has yet to be a truly PRIVATE digital proof-of-work currency with low enough transaction fees, big enough decentralized network, and fast enough transaction times to dethrone current payment processing networks. It will be interesting to see which 2nd gen digital currencies prevail. However, I think given the size of the bitcoin network and it’s immutability i still think it will remain the currency in which the value of all other’s will be based on. Digital Gold.
Very interesting time to be alive.
Bitcoin is proving to provide a reserve for millennials that favors wealth preservation through deflation over the idea of building credit and being forced to consume in this fractional reserve phony fiat system we currently have in place. I see bitcoin as a realtime indicator of the dollar collapse. Bitcoin incentivizes hoarding which takes the necessity to capitalize on useless junk away. It is arguably the greenest and most ecofriendly technology for this very reason despite it’s wide range of critics and high renewable energy usage. Understandably so, many of these critics rely on the current system of endless waste and crap products to fund their livelihood.
With facebook creating it’s own cryptocurrency we will finally be presented with two paths. Centralization, control, safety... or Decentralization, freedom, and uncertainty. I’ll tell you right now, it’s hard enough that facebook advertises to me based on my recent conversations and google searches. I’d prefer to keep my financial data out of their hands and move to more user oriented social networks like the highly anticipated Voice platform. Steemit had a very good run but has since been hijacked by bots. Hopefully Voice has what it takes to sort this issue.
That said, there still has yet to be a truly PRIVATE digital proof-of-work currency with low enough transaction fees, big enough decentralized network, and fast enough transaction times to dethrone current payment processing networks. It will be interesting to see which 2nd gen digital currencies prevail. However, I think given the size of the bitcoin network and it’s immutability i still think it will remain the currency in which the value of all other’s will be based on. Digital Gold.
Very interesting time to be alive.
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