The Creator of Bollinger Bands Hints at Bitcoin BTC Breaking 10K

The Creator of Bollinger Bands Hints at Bitcoin (BTC) Breaking $10K

In a recent tweet, John Bollinger has hinted that Bitcoin can break the psychological price of $10,000.

John P. Njui   •   BITCOIN (BTC) NEWS – CRYPTOCURRENCY   •   May 29, 2020  

In brief:

  • The creator of Bolling Bands has postulated a scenario where Bitcoin rallies and breaks $10,000.
  • CME Bitcoin futures expired earlier today.
  • Bitcoin is holding steady above the $9,400 and $9,300 support levels.

The creator of the industry-tested charting tool of Bollinger Bands, John Bollinger, has hinted at the possibility of Bitcoin experiencing a nice rally that could see BTC push hard above the psychological price of $10,000. Mr. Bollinger expressed his trading idea via the following Tweet.

May’s CME Bitcoin Futures Have Expired

Also to note, is that the CME Bitcoin futures for the month of May expired a few hours ago. According to the CME Group website, the derivatives expire on the last Friday of every month at 4 pm London time.

Trading terminates at 4:00 p.m. London time on the last Friday of the contract month. If this is not both a London and U.S. business day, trading terminates on the prior London and the U.S. business day.

What Next for Bitcoin in the Crypto Markets?


1-Day BTC/USDT chart (Click on image for larger view)

Further taking a look at the daily BTC/USDT chart courtesy of Tradingview.com, we observe the following.

  • The Golden Cross on the daily chart is very much valid and could lead to BTC testing $10,000 once again.
  • The current price of Bitcoin at $9,400 is above the 50-day, 100-day, and 200-day moving averages further pleading the case of a bullish scenario in the following days.
  • The short term support zones for Bitcoin are $9,300, $9,200, $9,050, $8,800 and $8,600.
  • Conversely, the short term resistance zones for Bitcoin are around $9,500, $9,600, $9,680, $9,773, $9,879, $9,940 and $10,000.

Possible Retracement for Bitcoin Before a Push-Up

However, there is the possibility of a retracement for Bitcoin as seen through the following chart on the 6-hour timeframe.


6-Hour BTC/USDT Chart (Click on image for larger view)

From this chart, we observe that the bullish momentum of Bitcoin in recent days might be followed by a retracement. The trade volume is seen to be reducing with the MACD moving averages further indicating a move down into the weekend. Additionally, the MFI is high at 75 further pointing to a scenario where Bitcoin will undergo a cool down before the move Mr. Bollinger has suggested, plays out.

As with all technical analyses of Bitcoin, traders and investors are advised to practice risk management as well as use stop losses to protect trading capital.

(Feature image courtesy of Unsplash.com)

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Original article posted on the EthereumWorldNews.com site, by John P. Njui.

Article re-posted on Markethive by Jeffrey Sloe

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Ethereum’s Vitalik: We Need an Alternative to Centralized Social Media

Ethereum’s Vitalik: We Need an Alternative to Centralized Social Media

Vitalik Buterin believes we need alternative social media platforms following Twitter's move to label President Trump's tweets.

John P. Njui   •   ETHEREUM (ETH) NEWS – BLOCKCHAIN NEWS   •   May 27, 2020

In brief:

  • Ethereum’s Co-Founder, Vitalik Buterin, believes it is time for alternatives to centralized social media.
  • His remarks were in response to the recent decision by Twitter to flag some of President Trump’s tweets as ‘misleading’.

Censorship on social media is on the rise. More so since it was determined that such platforms can be used by all the wrong people to promote hate, terrorism, and fake news by bend the truth in a bid to aid their political campaigns. Therefore, it was of no surprise when Twitter decided to flag President Trump’s tweets for containing misleading information.

Vitalik Buterin: It is Time for Alternatives to Centralized Social Media

President Trump responded to the flagging of his Tweets by declaring such a move was infringing on his Free Speech. He further added that as President, he would not allow such ‘censorship’ to continue. It is with this background that Vitalik Buterin expressed his opinion that there needs to be an alternative to centralized social media. A screenshot of Mr. Buterin’s statement can be found below.


Screenshot courtesy of Twitter.com

President Trump Promises Stiff Action Towards Twitter

Additionally, in subsequent tweets, President Trump has threatened to act on the infringement of his free speech on Twitter. The following two tweets by President Trump further elaborate on the situation.

Reasoning Behind Twitter’s Move

In a May 11th update, the team at Twitter announced that they will be introducing new labels and warning messages on Tweets that contain disputed or misleading information. Initially, the new policy was meant to apply to COVID19 misinformation. However, the platform has since seen it fit to use the new labels on political comments, including those of President Trump.

Accompanying the May 11th update was the following statement regarding the new labels.

During active conversations about disputed issues, it can be helpful to see additional context from trusted sources. Earlier this year, we introduced a new label for Tweets containing synthetic and manipulated media. Similar labels will now appear on Tweets containing potentially harmful, misleading information…

(Feature image courtesy of Pixabay.)

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Wall Street Is Buying Vast Amounts Of Bitcoin Despite Goldman Sachs’ Anti-Crypto Attitude

Wall Street Is Buying Vast Amounts Of Bitcoin Despite Goldman Sachs’ Anti-Crypto Attitude

By Brenda Ngari – May 28, 2020

Wall Street is accumulating bitcoin (BTC) at a rapid clip, disregarding what skeptics like Goldman Sachs have to say.

A new report has revealed that institutional investors have bought a lot of BTC since its halving on May 11. Approximately 12,337 BTC has been minted since the halving, but over the same timeframe, Grayscale Investments has purchased close to 19,000 bitcoins on behalf of its institutional clients.

Smart Money Doesn’t Care What Goldman Sachs Says: Analyst

Institutional investors are gravitating more towards bitcoin as a potential hedge against inflation and the overall dark cloud of economic uncertainty brought about by the coronavirus pandemic.

Grayscale Investments, one of the world’s largest crypto fund managers, is enjoying the increased institutional interest in digital assets. Data provided by Kevin Rooke, an independent cryptocurrency researcher, shows that 18,910 BTC has gone to Grayscale’s Bitcoin Trust since the halving. Yet, only 12,337 BTC has been produced since May 11. This implies that Grayscale Investments has bought over 150% of all the BTC mined since the halving.

Commenting on this appalling information, Rooke stated that Wall Street is buying bitcoin without paying any attention to Goldman Sachs’ advice regarding bitcoin.

It is, therefore, safe to say that bitcoin miners are not producing enough BTC to fulfill the needs of institutional investors who rely on Grayscale Investments. This is insanely bullish, especially considering that BTC recently underwent halving where the asset’s new supply was cut in half.

Some proponents suggest that the block reward halving would be a tacit boost for the BTC price in the long-term. They believe that as the BTC supply shrinks while the demand remains the same, the price of bitcoin should go up. 

Now, there is a clear demand for bitcoin, even from institutional investors. It should be noted that these investors have not been stocking up on BTC this month alone. Another report a couple of days ago showed that Grayscale bought around 34% of all the BTC minted in the 100 days prior to the halving. For perspective, the fund bought a staggering 60,762 BTC during that period which is a notable increase from last year.

Is Bitcoin Going Mainstream?

In a packet of leaked slides from an investor call on Wednesday, Goldman Sachs completely dismissed bitcoin as a viable investment. Why? The reasons given include bitcoin’s inability to generate cash flow, it does not hedge against inflation, and it also doesn’t “provide consistent diversification benefits”. 

While some may take Goldman’s comments as bearish, a few crypto observers think it is actually a good sign. Analyst Dave the Wave, for instance, asserted that the fact that the stalwart investment bank included bitcoin in their call means they are closely watching it.

“My take  any publicity is good publicity. BTC is on their radar, and they’ve had to respond. The content of the response is secondary.”

The ongoing liquidity injections by central banks in the wake of COVID-19 have been criticized by financial experts who believe they will do more harm than good in the long-term. Such Wall Street critics like Paul Tudor Jones have purchased bitcoin with the belief that it is a great hedge against the great monetary inflation.

Although there remain naysayers like Goldman Sachs, bitcoin is certainly attracting a great deal of mainstream attention. Years ago, no one could have imagined that the pioneer cryptocurrency would attract such a high level of institutional interest. Whether this momentum continues for the rest of the year remains to be seen.

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DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Brenda Ngari and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

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Coinbase To Acquire Institutional Crypto Brokerage Tagomi

Coinbase To Acquire Institutional Crypto Brokerage Tagomi

By RTTNews Staff Writer | Published: 5/27/2020 11:37 AM ET

US-based cryptocurrency exchange Coinbase agreed to acquire New York-based institutional-grade crypto prime brokerage Tagomi as part of its strong institutional focus to cater to the ever increasing number of institutional investors venturing into cryptocurrencies such as Bitcoin.

The proposed acquisition comes at a time when the world’s most recognized hedge fund and macro investors are entering the crypto space and searching for the right infrastructure. This has driven tremendous growth in Coinbase Custody offering and increased volumes on Coinbase trading platforms.

The acquisition will bolster Coinbase’s offerings for advanced traders and the most sophisticated crypto investors.

Coinbase has already been rolling out offerings for these institutional clients, with the addition of advanced features such as margin trading for institutional investors and new tools to help investors segregate their trading strategies.

The crypto exchange said it has also recently expanded Coverage for larger clients by adding Brett Tejpaul as Head of Institutional Coverage to its leadership team.

According to Coinbase, the addition of Tagomi will round out its product suite for the fast-growing institutional trading market. It will enable integrated offerings such as custody, professional trading features, and prime brokerage services on one platform.

This will give the sophisticated institutional investors a seamless, powerful trading experience they have come to expect in equities and FX markets.

Since its launch in late 2018, Peter Thiel-backed Tagomi has become the platform of choice for many advanced traders, hedge funds, and family offices, including well-known names such as Paradigm, Pantera, Bitwise, Multicoin, and many more.

The company has also built out an executive team with a rare blend of traditional financial services and crypto experience, with the team bringing in experience from leading firms such as Goldman Sachs, Citadel, KCG, Tower Research, and USV.

The acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close later this year.

For comments and feedback contact: editorial@rttnews.com

Article written by an RTT News Staff Writer, and posted on the RTT News.com website.

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Blockchain Healthcare Startup SolveCare Launches Global Telehealth Exchange

Blockchain Healthcare Startup Solve.Care Launches Global Telehealth Exchange

By RTTNews Staff Writer | Published: 5/26/2020 11:07 AM ET

Blockchain healthcare startup Solve.Care has rolled out a bockchain-powered platform that will redefine the current healthcare system amid the COVID-19 outbreak whereby patients are reluctant to visit their doctors due to the pandemic.

Solve.Care's Global Telehealth Exchange (GTHE) will provide a solution with the world's first Global Health Exchange built on Blockchain. It will help connect every doctor to any patient, who can find, verify, book and see the doctor of their choice online.

GTHE will provide physicians who wish to practice telemedicine the opportunity to be listed on the global blockchain registry. Once listed, they can publish their profiles, rates, availability and readily accept appointments.

Upon patients' consent, doctors can immediately review their medical records, eliminating the time-wasted conducting repeat assessments and unnecessary medical tests. Users of GTHE can rest assured that their records are secure and tamper-proof as all records and transactions are stored on blockchain.

GTHE can be accessed through the Care.Wallet, Solve.Care's personalized healthcare management system, and will be commercially available for users in select markets in the second half of the year. All transactions on GTHE will use SOLVE, the company's native digital token, making foreign currency exchange rates and bank commissions redundant.

The GTHE care network breaks down the physical or geographical barriers between doctors and patients. Users will be able to consult medical practitioners anywhere in the world through their computers or personal devices.

According to the National Center for Health Statistics, 883.7 million patients visited a doctor in one year in the U.S. Millions of doctors worldwide need a new way to connect with patients as COVID-19 has reportedly cut patient-doctor visits by about 70 percent.

The move towards a decentralized healthcare system has accelerated dramatically due to the Covid-19 outbreak. Access to quality healthcare should not be restricted by barriers such as geography, systemic inefficiencies and administrative bureaucracy.

The deployment of blockchain and digital currency addresses many of the challenges that the global healthcare system is facing today. Medical practitioners who are not primarily involved in treating Covid-19 cases have experienced a significant drop in patient appointments.

The Solve.Care platform uses blockchain technology as the underlying distributed ledger for coordinating care, benefits and payments between patient, doctor, pharmacy, laboratory, employer, insurer, and all other parties.

Employers can use the platform to administer benefits, reduce costs, and reward their employees. Physicians and hospitals can issue prescriptions, manage appointments, and coordinate with a specialist.

The Solve.Care's platform is already adopted by commercial insurance companies, accountable care organizations, and the US federal government agencies, through HMS.

Last year, Solve.Care also partnered with ride-hailing company's Lyft and Uber to transform medical transportation by improving access to medical care. It will provide reliable, accessible and affordable rides to patients and caregivers.

For comments and feedback contact: editorial@rttnews.com

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Why The Post-Halving Miner Capitulation That’s Underway May Ignite A Meteoric Bitcoin Rally

Why The Post-Halving Miner Capitulation That’s Underway May Ignite A Meteoric Bitcoin Rally

By Brenda Ngari – May 26, 2020

Bitcoin miners have been on a wild roller-coaster ride in the past few weeks. After the halving on May 11, the rewards they receive were slashed by half from 12.5 BTC per block to 6.25 BTC. As a result, most of the miners using older model mining machines were forced to shut them down as they were registering meager profits. This resulted in a substantial drop in the hashrate.

With bitcoin recently slipping below crucial $9,000 level, fears of a further dive have been renewed. A possible sell-off might discourage new investors from entering the bitcoin market. However, Charles Edwards, a digital asset manager at Capriole, sees the miner capitulation as an opportune time to buy bitcoin at low prices before the next bull market. 

An ‘Almost Vertical’ Rally Could Spring From Ongoing Miner Capitulation 

According to an indicator known as hash ribbons, miner capitulation has started. As miners capitulate, they sell their bitcoin holdings to cover their expenses and cut their losses. This process adds significant pressure to the bitcoin market.

In a tweet on May 25, Charles Edwards pointed out that the second round of miner capitulation in 2020 is currently underway, indicating that BTC could continue slumping in the near-term.

Edwards had noted earlier that BTC’s third halving that just concluded would be a brutal event for miners. Less than two weeks since the event, bitcoin’s weekly hashrate has dropped by 26%. Notably, a similar pattern was witnessed after the two previous halvings in 2012 and 2016 as miner capitulation began within 21 days of the halving.

The silver lining of the current picture is that miner capitulation is often a “massive bull flag” – a continuation pattern of a bullish trend. In fact, Edwards cites that the rallies that ensued after miner capitulation were “almost vertical”.

Edwards did not explain how high bitcoin could go after a miner capitulation. He had, however, stated in late December last year that bitcoin historically saw an average gain-to-cycle-peak of over 5000%.

Strong Fundamentals Boost Bitcoin’s Bullish Outlook

Charles Edwards further noted that bitcoin’s bullish case is bolstered by the strong fundamentals.

He gave three factors to back his assertion: massive increases in Tether (USDT), funds are hungry for bitcoin as they buy all the newly-minted BTC in 2020, and the overall macro picture against a backdrop of BTC’s halved inflation rate. The latter, in particular, is presumably in regard to the expansive monetary measures undertaken by central banks across the globe as a result of the COVID-19 pandemic.

Edwards observed that the hash ribbon buy signal could be confirmed in less than three weeks. This could very well be the last chance to accumulate BTC before the asset starts soaring into the stratosphere.

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DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Brenda Ngari and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

Visit MarketHive to learn more: http://markethive.com/jeffreysloe

Binance CEO: We Are Still Early in the Bitcoin BTC and Crypto Game

Binance CEO: We Are Still Early in the Bitcoin (BTC) and Crypto Game

CZ believes those getting into crypto investing right now, should not despair for they are still early in the game.

John P. Njui   •   BITCOIN (BTC) NEWS   •   May 24, 2020   •   2 Min read

In summary:

  • The CEO of Binance, Changpeng Zhao, is optimistic that anyone investing in crypto now, is still early in the game.
  • CZ himself got into the game in 2014 after selling his house only for Bitcoin to crash soon after.
  • He did not sell back then and believes a similar strategy can work till 2025.
  • He also advised those who can hold to do so rather than risking their bags trading.

The crypto community is very close despite all the push and pull that anyone might see on crypto twitter. Everyone wants Bitcoin (BTC) and the entire spectrum of digital assets to succeed. It is with this closeness and willingness to share advice that the CEO of Binance, Changpeng Zhao, has offered some words of encouragement to investors and traders getting into Bitcoin and Crypto in 2020.

We are Still Early in the Bitcoin and Crypto Game

In a tweet, CZ explained that he too got into the game at a time like this 5 years ago and he had initially thought he was late into the game. However, five years later, he still believes it is still early and anyone getting into the crypto game now needs not to worry. In another 5 years, the industry would have grown some more. His tweet went on to request anyone who is unsure about their trading abilities, to hold their bags rather than risking it all in the markets.

Everyone I have met that got into, thinks they got in too late, no exceptions, myself included, until 5 years later.

I expect the same will be true in 2025. We are still early in the game.

Not financial advice. And don’t trade if you are not a trader. #hodl.

CZs Journey into Bitcoin and Crypto

CZs tweet can be linked to his own story of how he got into crypto in 2014 when Bitcoin was trading at $600. Mr. Zhao had just sold his house and gone all in. However, a few months later and in 2015, Bitcoin crashed to $200 but he kept holding and is now the CEO of the largest crypto exchange around by trade volume. The following tweet by CZ gives a better perspective of his journey into crypto.

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

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Bitcoin Leaves Banking Stocks In The Dust As IMF Warns Banks Are In For Major Losses

Bitcoin Leaves Banking Stocks In The Dust As IMF Warns Banks Are In For Major Losses

By Edwin Kinoti – May 23, 2020

The financial crisis exposed by the Covid-19 pandemic has worsened financial vulnerabilities across the world. A new report from the IMF has shown three potential weak spots that can amplify the financial conditions, causing more instability or a worsened financial crisis. These are risky segments in global credit markets, emerging markets, and banks.

This situation has led to the demand for cash, triggering selling pressures, and large outflows of mutual funds. For instance, since the pandemic, emerging markets have recorded capital outflows of over $100 billion. In addition, banks have been affected by low-interest rates, which puts a lot of pressure on their profitability.

Such challenges affect financial stability, as banks play a key role in a dynamic economy. When banks cannot generate profits, they are faced with challenge of providing loans and financial services, denying the economy crucial credit.

The pandemic could cause banks to increase fee income to alleviate pressure on profits. Banks that take excessive risks to recoup profit might have bigger losses in the future. Regardless of the steps banks take, the need to strategize to reduce oncoming losses is apparent, as all sectors have been hit by the pandemic.

Bitcoin Soars

Amidst the challenges and losses facing banks and financial institutions, Bitcoin has seen an upward trajectory, outperforming banking stocks, which is predicted to continue in the coming weeks. The world’s turmoil has not had any major negative impact on the price of BTC, or its popularity, as the season has seen major milestones for the cryptocurrency.

One of these is the Bitcoin Halving that had the blockchain community anticipate the exact day and hour, as well as major predictions on price changes made. Through this event, the price was affected positively, with new active addresses as well as an increase in trading volumes.

The looming economic crisis has driven many people to seek other safer investment opportunities that are better than banks at keeping the value of their investments afloat. This has led to more people using Bitcoin as an investment tool and abandoning banks, which are currently begetting pressure.

BTC’s price is up above $9k, which is a first in many months, as it had stabilized at $7k for a while before the coronavirus outbreak. The increased value of BTC indicates that it has not faced the same woes that banks are currently experiencing, and that it might be one of the few markets not negatively affected by the pandemic.

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DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Edwin Kinoti and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

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Master of Puppets: Bitcoin Cuts the Strings

Master of Puppets: Bitcoin Cuts the Strings

The centralized financial system has compromised itself several times during the last two decades alone, and now it’s time for a serious change!


Image courtesy of CoinTelegraph

            MAY 23, 2020

Did you notice the song that Christian Bale’s character was jamming out to in his office when his partner came in to pull the money in The Big Short? Well, it happens to be my favorite metal band of all time: Metallica. And that song is called “Master of Puppets.” It’s almost ironic that as I was writing this article on the real truth behind what’s currently happening with the collapse of our financial and economic markets and calling it “Master of Puppets” — well, this movie scene popped in my mind. 

Yes, The Big Short is about the big 2008 financial crisis caused mainly by none other than the United States Federal Reserve. Spoiler alert! This will be one of the last times you read about any type of “correlation” here in this article.

Master of Puppets is Metallica’s third album, released in 1986, and it is probably the greatest metal album of all time. I still listen to it almost weekly. It’s great for working out or getting pumped up before a business meeting.

Anyways, back to the master. The curtain has been removed and the truth revealed: money is created out of thin air, and the banks and Wall Street are bathing in it.

To be very clear, there was a major and historical financial crisis by orders of magnitude already about to explode, and the COVID-19 pandemic just brought the economy to its knees a tiny bit quicker.

At a crucial intersection of events in time that couldn't have been more bluntly shoved in your face, 16 million people in the U.S. lost their jobs (and it's almost 36.5 million now.) And like a drunk driver recklessly running a red light at an intersection, the Dow Jones Industrial Average had the highest gains since 1938. All while the Fed was printing 4 trillion U.S. dollars out of thin air.

Where's the correlation? Whoever can find it will prove reincarnation exists, as they must be J. P. Morgan himself, reincarnated in the flesh — only 100 years even more crafty and conniving. And the government and the Federal Reserve say Bitcoin (BTC) is backed by thin air?

Our economy and the Federal Reserve is built on sticks (debt), and remember what happened to that little piggy that didn’t use bricks? Let’s hope the strings become severed from the puppet master and like a bungee cord slap back into its face with the inertia and momentum of more than 150 years of control, lies and manipulation.

The amount of truth that’s starting to become available and acknowledged by the general public about our governments and financial institutions is alarming, and hopefully this will be a stepping point into a new paradigm or, what I like to say, a “new world order.”

The Fed and the government’s economic strategy is just putting an already used Band-Aid (quantitative easing and debt monetization) on a gunshot wound. It’s not fixing the real problem. And for obvious reasons.

The U.S. has for years substantially spent trillions of dollars more than it brings in. To date, the debt owed by the federal government is over $25 trillion. Even more unfathomable to see, with some very complicated calculations, is that it’s looking like an estimated, or near, amount of $100 trillion will need to be printed (out of thin air), or what the Fed likes to call "increase the monetary base,” in order to bail out and keep institutions afloat.

This would then create the ripple effect of causing global economies to reach hyperinflation such as has been never seen before. That's called a lose-lose (or no-win) situation caused by none other than our government, the banking system, Wall Street and their combined mismanagement of our economies.

Understanding economics and monetary policies can be complicated for many, even myself, but it’s not complicated enough where I will not speak up and just sit here as the blind sheep being led by the wolf in sheep’s clothing to my bitter end.

To clarify, as it's important: Bitcoin will never be a replacement for a nation’s central bank currency or new digital currency that's in development now. It’s more the digital gold of the 21st century and onward.

But most importantly, and much like the U.S. fighting for its freedom and control from an unfair controlling centralized system such as England, it was the first to step in thousands of years of oppression to launch a revolution.

Like Joan of Arc or Che Guevara, who became martyrs for the better of society, Bitcoin itself has taken the beating from its first inception — including being declared a national security issue — but it was so powerful in igniting a revolution that it withstood all the hardships and persecution that the governments and central banks cast upon it. So, what it serves to be is the Medal of Honor for this new paradigm shift of the people’s money, leading the future of money with a more transparent, fair and peer-to-peer monetary system.

The more we talk about this, the more people may eventually get it — I hope. The general public should really try to understand this. It’s all credits and debts and leveraged positions and margins.

Remember that incredible luncheon scene in The Wolf of Wall Street where Matthew McConaughey’s super Wall Street broker character educates a young and hungry rookie broker, played by Leonardo DiCaprio, breaking down how the real system works? Matthew McConaughey, with a straight face and twist of sarcasm, says, “Fugayzi, fugazi. It's a wazzy, it's a woozy. It's fairy dust. It doesn't exist. It's never landed. It is no matter. It's not on the elemental chart. It’s not f—— real.”

Just so you know: This system doesn’t just apply to brokering trades on the stock market. It applies to all the banking, monetary and financial systems around the world.

Fairy dust old money is just a hierarchically controlled propaganda belief system.

Blockchain-based new money is the P2P, fair and transparent people’s-money.

That's exactly right. Thank you, Martin Scorsese and your screenwriters, for this brilliantly creative scene. Yet it’s fair to say that this part of the scene was definitely outshined by the more memorable “rookie numbers” part.

But as history has continuously proven to us, unfortunately, much of the population takes comfort in the machine (the “master”), no matter the consequences. As some say, “Ignorance is bliss.” 

Maybe they were so caught up in the genius writing and humor from Scorsese and these two brilliant actors that they missed it. I know I almost fell out of my chair laughing.

So, as the banker artistically creates his leveraged position out of thin air, like abstract images flow out of the tip of Dali’s paintbrush — or Scorsese's brain to film — I ask you: Does art imitate life, or does life imitate art?

Finally, the cat is out of the bag, though unfortunately only hindsight is 20/20, and time will tell what changes actually occur after this mess. Hopefully it’s different this time. 

As says the famous "possible quote" of Henry Ford (most people don’t know the real facts behind that quote) that was paraphrased by congressperson Charles Binderup on March 19, 1937, in the House of Representatives:

“It is perhaps well enough that the people of the nation do not know or understand our banking and monetary system, for if they did I believe there would be a revolution before tomorrow morning.”

Want to know how the banking system really works? Here it goes:

You don't deposit cash at a bank. You actually just lend it to the bank, and when you go to draw on that account, you are just creating a transaction inputted on a digital ledger. You are not actually drawing out your original money. The banks then charge you fees to actually lend them money as well in the form of monthly account fees, overdraft fees and all the other small print fees that sneak in.

When the bank deposits money in your account in the form of a credit — for instance, if you buy a house — it's not an actual credit, it's really a debt that it repackages and calls a mortgage by leveraging its position and creating a profit margin for the services of lending you part of your own money back that you originally gave it, as well as all its other customers’ money. There is only one form of real money in this transaction, and that is the money that you originally gave the bank. It’s basically holding a lien over you and on your new house with the money you and its other customers let it borrow, which it turned around and let you borrow again and charged fees on it. All it did was “artistically” create a leveraged position and profit margin by creating a credit and debt out of thin air.

The stark reality is that there really is no money. This centralized system is just conjured up credit, debt and margin entries on a centralized ledger that’s agreed upon (consensus) by a centralized group of participants.

The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

J. D. Salbego is the CEO of Legion Ventures. He is a global leader in blockchain and digital securities with a history of working with industry-leading startups, crypto funds, institutions and governments to drive blockchain innovation, STOs/ICOs, crypto capital markets, international expansion, digital asset fund strategy and go-to-market frameworks. His work has been featured in Forbes, Business Insider and Yahoo. As a market influencer, a speaker, a published author and an internationally recognized subject matter expert, Salbego is frequently invited to speak at leading conferences such as the World Economic Forum, BlockShow and Delta Summit.

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Original article posted on the CoinTelegraph.com site, by J.D. Salbego.

Article re-posted on Markethive by Jeffrey Sloe

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Hayes: PTJ Owning Bitcoin BTC Removes Career Risk from Fund Managers

Hayes: PTJ Owning Bitcoin (BTC) Removes Career Risk from Fund Managers

John P. Njui   •   BITCOIN (BTC) NEWS   •   May 22, 2020   •   2 Min read

Quick take:

  • The Co-Founder and CEO of Bitmex, Arthur Hayes, has just published his most recent crypto digest.
  • In the extensive post, Mr. Hayes explained that Paul Tudor Jones owning Bitcoin will remove career risk from fund managers owning Bitcoin risk.
  • In one swift decision, Paul Tudor Jones normalized fund managers investing in BTC.

Users of the popular derivatives platform of Bitmex regularly receive email digests from the Co-founder and CEO of the exchange, Arthur Hayes. In the most recent edition, Mr. Hayes muses on how the recent move to own Bitcoin by the legendary Paul Tudor Jones, took off a heavy load from the shoulders of fund managers across the globe.

Paul T. Jones Owning Bitcoin Removes Career Risk from Fund Managers

Hayes explained that in one swift move, Mr. Jones’ decision to hedge against inflation using Bitcoin removed career risk from fund managers who are often judged from their past performances trading the markets. The move by Paul T. Jones normalized owning Bitcoin risk by fund or portfolio managers.

Paul Tudor Jones (“PTJ”) is a trader with a capital f*cking T.

His homage to why inflation is coming and Bitcoin is a possible way to outperform inflation in the coming years is very important because it removes career risk from fund managers owning Bitcoin risk.

Fund Managers Try To Think Like Legendary Traders

Arthur Hayes went on to explain the career of an average fund manager using his own example rising up the ranks. Hayes explained that being a fund manager was not as exceptional as many people believed and perhaps the only advantage they have over other graduates, is the school they went to.

Nothing about your career path [as a fund manager] is exceptional in any way.

You aren’t a brain surgeon, any type of engineer, or a well-regarded public servant.

You went to a nice school, got a well-paying job, and survived.

He went on to explain that average money managers spend plenty of time researching prominent fund managers in a bid to better understand their strategies. In the case of Paul Tudor Jones, he has already established himself. Therefore, fund managers willing to own BTC, or a derivative of Bitcoin, can now do so with ease because investors now know it is not an unorthodox investment. Mr. Jones took all the risk by being extraordinary with the decision to own BTC.

As with all walks of life, there are a few truly exceptional money managers.

They first preserve your capital, and second, earn a positive absolute return.

PTJ is one of them.

Average money managers pour over the writings of the gods, and try desperately to think like they do.

But we know in the back of our mind, they are average. They are average and average pays f*cking gloriously. Why would you want to be extraordinary and expose yourself to career risk.

(Feature image courtesy of Unsplash.)

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

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Original article posted on the EthereumWorldNews.com site, by John P. Njui.

Article re-posted on Markethive by Jeffrey Sloe

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