All of the big picture elements that affect the bitcoin price are bullish in the medium term and hence. The fact that the (illigitimate) US administration is fighting tooth and nail to make bitcoin quasi illegal through legislation reveals their fear that their system is on the verge of collapse so that the public will opt out as much as possible. This tendency to opt out weakens their power to control the masses.
Now that coinbase has implemented lightning a major obstacle to mass adoption has been addressed albeit incompletely. Competitive pressure will force other bitcoin exchanges to do the same. This is the initial layer of more to come. Others will follow, especially as we slide into an accelerating inflationary spiral. The US has enormous debt to roll over this year and not many takers for the new debt. Most of the world is dumping debt to buy gold with the proceeds, not more debt.
So, the pressure is upward for bitcoin despite attempts to suppress it and likewise for gold. IMHO one should own both as well as decouple from the USD. When the US goes supernova it will be a hot mess. don't expect the government to help you.
Great post. Do you know a cheap, non-CEX way to swap between BTC and XMR? I think transaction cost is a major issue here for utility (for now)
All of the big picture elements that affect the bitcoin price are bullish in the medium term and hence. The fact that the (illigitimate) US administration is fighting tooth and nail to make bitcoin quasi illegal through legislation reveals their fear that their system is on the verge of collapse so that the public will opt out as much as possible. This tendency to opt out weakens their power to control the masses.
Now that coinbase has implemented lightning a major obstacle to mass adoption has been addressed albeit incompletely. Competitive pressure will force other bitcoin exchanges to do the same. This is the initial layer of more to come. Others will follow, especially as we slide into an accelerating inflationary spiral. The US has enormous debt to roll over this year and not many takers for the new debt. Most of the world is dumping debt to buy gold with the proceeds, not more debt.
So, the pressure is upward for bitcoin despite attempts to suppress it and likewise for gold. IMHO one should own both as well as decouple from the USD. When the US goes supernova it will be a hot mess. don't expect the government to help you.