Weekly Recap - 27.11.2023

🧠Quote(s) of the week:

“Politics is only a control structure on top of manipulated money.” – Jeff Booth

“There is an uncanny historical justice aspect to Bitcoin where generally speaking, the less financially privileged you are, the faster you understand how useful it is. The more financially privileged you are, the slower you understand how useful it is.” – Alex Gladstein

🧡Bitcoin news:

➡️ Last Saturday we held in my hometown the last Bitcoin meetup in 23′.

The message is in Dutch. “Thank you very much for the warm and friendly welcome and all the information I received today!! I found it very educational and will continue with my Bitcoin “study”. Greetings”

This is why we do what we do. This is why I am creating content!
On Friday I will be live on the local radio station (Radio Zwolle – Bijna Weekend) talking about Bitcoin and our group Zwolle Bitcoinstad.

https://twitter.com/CryptoFriday2/status/1728526056590565444

➡️ Bitcoin hashrate hits an all-time-high, surpassing 500 exahash per second (EH/s).
https://twitter.com/danieleripoll/status/1728486701490942427

➡️ “Plebs who started daily DCAing Bitcoin at the all-time-high 748 days ago are now officially in profit +40%” – Wicked

➡️Wallet of Satoshi, a Bitcoin wallet app known for its focus on Lightning Network usability, has decided to remove its app from the U.S. Apple and Google app stores and will no longer serve U.S. customers.
WHY? WoS needs to comply with local regulations or laws in ways that it cannot, or doesn’t not want to.
It still works, but if you lose your phone you can’t re-download the app. No rugpull, just tech degradation driven by regulations. US residents should get their coins off of WoS.

Great work US. Land of the free, home of the brave.

This is exactly the reason why you should use a non-custodial app/wallet! The regulatory squeeze in the U.S. continues to get tighter.

➡️Changpeng Zhao (CZ) resigns as Binance CEO and faces up to 18 months in prison as part of his plea deal with the US Government. He pleads guilty to violating criminal anti-money laundering requirements.
$1.3 billion in user funds withdrawn from Binance following US Government indictment.

➡️”Since Halloween, a particular Bitcoin address has amassed 8,674 Bitcoin, equivalent to $323 million. Moreover, they’ve consistently added 1,000+ Bitcoins to their holdings for the past three consecutive days.” – Bitcoin News

➡️ “Cornell University (world rank #13) just covered a new paper that suggests what Bitcoin mining companies have been saying for years: Bitcoin mining helps solar developers generate more profits that can be invested in future renewable energy projects” – Daniel Batten

Source

Bloomberg, Forbes, TVNZ, MSN, Financial Times, The Hill, The Independent (Ireland), Euro News, Technology Review, One Green Planet, Yahoo Finance +, and other mainstream media all published positive press on the environmental benefits of Bitcoin mining this year!
Probably nothing!

BUT, ask yourself why is the narrative shifting. Is it because they now fully understand that Bitcoin is something positive for society OR..more like BlackRock will list an ETF…

➡️Bitcoin mining is expanding in Argentina British firm FMI Minecraft plans a $45M crypto farm in Patagonia There will be no taxes to import ASICs or anything else, thanks to the mine’s proposed location within a free trade zone.

➡️”Bitcoin has risen ~119% since the beginning of 2023. At the same time, 70% of all coins have not moved in over a year, a new record high. This suggests that a large majority of the outstanding supply will only start moving if the price increases many multiples higher.” -Unchained
Or to put it slightly differently, despite a 126% performance over the last year. Once you understand Bitcoin, you aren’t selling!

➡️ Former NYSE President: “Money will flood into the industry with a Bitcoin ETF, it’s just easy to buy.” “Bitcoin is a great invention. It is a store of value.

➡️ The Kingdom of Bhutan has secretly spent millions building a national Bitcoin mining operation to avert “economic crisis” – Forbes

➡️A Bitcoin whale unloaded 636 BTC ($23.46M) just before the US Department of Justice revealed significant crypto enforcement actions on the 21st of November.

➡️ Hillary Clinton DOES NOT want you to own Bitcoin because it undermines the “rope of the dollar”.
Watch the clip here: https://twitter.com/hoardingsats/status/1726720299675390456

This is exactly why Bitcoin was created.

💸Traditional Finance / Macro:

Week ahead: In the US, we have the Fed Beige Book, core PCE inflation data, jobless claims, and the November manufacturing ISM report. In Europe, the highlight will be flash inflation data for the euro area, UK lending data, and euro area unemployment. In Asia, we have the RBNZ, Bank of Thailand, and Bank of Korea meetings, Japan industrial production and unemployment data, India GDP, China PMI, and Australia and Indonesia CPI inflation data.

“CEOs at JP Morgan, Blackrock, Amazon, Apple, and now Facebook are dumping large amounts of shares in their own companies. China is dumping U.S. Treasuries at the fastest pace in 3 years while the Japanese are offloading US Corporate bonds at the fastest pace in recorded history.”
“A few days later also former Chairman of Walmart has dumped $336.7 million of Walmart shares, continuing the recent trend of high-level executives offloading shares in their own companies” – Ben Rickert

Is it a planned sale? Any particular reason for the inside selling? Interesting to see how this will unfold in the upcoming weeks/months.

🏦Banks:
👉🏽Argentina President Javier Milei confirms he will shut down the Central Bank.

🌏Macro/Geopolitics:

👉🏽 “US consumer inflation expectations for the next five years jumped to 3.2%, matching the highest level since 2008!
US Consumer inflation expectations are on the rise. They increased to 4.5% for the next 12 months, which is very high from a historical perspective. Add to this that Powell’s (former) CPI darling – 3-month annualized Core Services ex Shelter – hit 5.5% in October to understand that the FederalReserve cannot give up on its ‘higher for longer ‘ narrative just yet”.- Jeroen Blokland

Like always in politics, they will kick the can down the road. They have no intention to reign in on fiscal overspending.
Even if they will reach their goals, what will that do? Nothing, maybe just pay the interest..

The US is literally paying $1,000,000,000,000 just in interest every year!!!!
When she says “reduce the deficit by $1 trillion over the next ten years”, she really means reduce the growth in the deficit from some imaginary number we projected.

read the following tweet:
https://twitter.com/PrestonPysh/status/1726809611976769749/photo/1

👉🏽Now we know for real, the truth has been revealed. Sen. Warren:
“Let’s do a central bank digital currency … I think it’s time for us to move in that direction.” Amid Sen. Warren’s moralizing on crypto money laundering, never forget what her ultimate goal is: the destruction of Bitcoin to make way for a CBDC. Warren is usually effective at hiding her true intentions. But on this rare occasion, she let her guard down—and she could barely contain her excitement at the prospect of a CBDC.
See for more info the great tweet by Sam Lyman:
https://twitter.com/SamLyman33/status/1727327677399400893

Politicians will push for a CBDC. It’s all about control. Politicians are not against Bitcoin, they are against not government-controlled Bitcoin…crypto…whatever you want to call it.

James Lavish”: CBDCs are a bridge for the government to cross from taxing your earnings to overseeing and controlling every single penny you earn *and* spend. Forever.”

No matter if it is the ECB, the FED, the BoJ, the BoE, or China’s CBDC…it will enable unelected technocrats to program how, when, where, on what, and by whom it can be spent, including the imposition of social credit, carbon allowance, etc.
It’s coming.
Opt-out: Bitcoin

👉🏽Check out the CBDC tracker by the Human Rights Foundation.
The Tracker will go online for the first time, providing the public with a resource to examine the progress and risks of CBDC implementation worldwide.
It shows you information on each country’s central bank digital currency project.

HRF believes CBDCs pose a significant threat to human rights work worldwide, especially for people living under tyranny. More than 100 countries are researching CBDCs, while more than 20 have pilots, and a handful of governments have already launched some kind of retail product.
Source: https://hrf.org/hrf-to-launch-cbdc-tracker-on-nov-14-in-d-c/

Tracker: https://cbdchumanrights.org/home

Absolutely a must-have tool in your toolkit and an invaluable resource to share with friends and family!
Digital identity and CBDC pose a severe risk to human rights and have the potential to limit individual freedom.

👉🏽China’s major shadow bank Zhongzhi declares ‘severe insolvency’ with a $36 billion shortfall, signaling liquidity problems in the $2.9 trillion Chinese shadow banking sector. Known for real estate investments, Zhongzhi attributes the deficit to internal management issues facing operational risks. The crisis further highlights instability in China’s real estate market, raising concerns of possible contagion effects. Source: El Pais

What is the love of god is ‘severe insolvency’. You are either insolvent or not.

🎁If you have made it this far I would like to give you a little gift.
The November newsletter by Lyn Alden, in which she is discussing how emerging monetary technologies have the potential to disrupt the existing global financial system over the long term.
read here: https://www.lynalden.com/november-2023-newsletter/

Credit: I have used multiple sources!

My savings account: Bitcoin

The tool I recommend for setting up a Bitcoin savings plan: The Relai app is especially suited for beginners or people that want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy.

For new users, the app can be downloaded from all Play Stores. The iOS version is only available in Swiss, Austrian, German, and Italian App Stores. If you set up a Bitcoin Savings Plan (weekly/monthly) you can use my code CRYPTOFRIDAY and your fees will be reduced by 0.5%!

Check out my tutorial post (Instagram) & video (Youtube) for more info. ⠀

Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node…be your own bank. Not your keys, not your coins. It’s that simple. ⠀⠀⠀⠀⠀⠀⠀⠀

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