Bitcoin: The Inevitable Path Toward Global Adoption Of The Next World Reserve Currency

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    • #470603
      Voltairine
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      • Total Posts: 2,567

      Retail, institutions, governments, pension funds, REITS and banks are all accumulating bitcoin. The diversity of accumulation produces “game theory” adoption, accumulation which is occurring far quicker than most would have predicted. For example, El Salvador became the first government to make bitcoin legal tender in September 2021. Today, there are more residents with Bitcoin wallets than traditional bank accounts. As of October 2021, exports of goods grew 34% in 2021 in El Salvador, while gross domestic product (GDP) is projected to be greater than 10% in 2021, making El Salvador one of the fastest growing economies in central America.

      El Salvador continues to acquire bitcoin at a fast pace, now owning approximately 1,220 bitcoin at the time of writing this article. Bitcoin adoption is an accumulation race. The thing is, most do not realize that the gun has already gone off and the race has started. Ask Michael Saylor of MicroStrategy if they plan to sell, let alone stop accumulating more bitcoin.

      From a government level, Laos mines bitcoin. They expect to earn $190 million dollars from bitcoin mining in 2022. Tonga is actively drafting legislation to make bitcoin legal tender in the fall of 2022. Panama, Zimbabwe and Ukraine are all looking into possible adoption. Singapore seeks to become a Bitcoin hub.

      “We think the best approach is not to clamp down or ban these things,” said Ravi Menon, managing director of the Monetary Authority of Singapore.

      The president of El Salvador is currently in Turkey, the first G20 country to experience near hyperinflation. I would guess Nayib Bukele would bring up the benefits that adopting bitcoin as legal tender could do for the Turkish people.

      For every case like China, which chose to close its doors to Bitcoin, there are two other countries ready to embrace it. You cannot ban Bitcoin, a country can only choose to ignore it, but Bitcoin is not going away. Ignore at your peril. Bulgaria owns 213,518 bitcoin, Ukraine owns 46,351, Finland 1,981 and El Salvador, at the time of writing, 1,220.

      https://bitcoinmagazine.com/business/bitcoins-path-toward-global-adoption

      Russia and Chinese-Russian cooperation are also keeping door open to the possibility trade fossile energy in Bitcoins – as Swift is being used as political weapon by petrodollar empire.

      Aloha!

    • #470604
      ArtfromArk
      Participant
      • Total Posts: 1,640

      Bitcoin is the ultimate ponzi scheme. Something that only exists in cyberspace, made from and existing of absolutely nothing, whose “value” is heavily influenced by “whales”, that is, deep-pocketed pumpers and dumpers who raise and lower the price at their whim to fleece the gullible.

      “There’s a new spirit abroad in the land. The old days of ‘grab and greed’ are on their way out. We’re beginning to think of what we owe the other fellow, not just what we’re compelled to give him. The time’s coming… when we shan’t be able to fill our bellies in comfort while others go hungry, sleep in warm beds while others shiver in the cold.... And God willing, we’ll live to see that day…” Basil Rathbone,"Sherlock Holmes Faces Death" (Universal 1943)

      • #470607
        Mr. Mickeys Mom
        Moderator
        • Total Posts: 8,115

        Do you know the first thing about Bitcoin? I do not think you do, and I don’t want to chase you away on this teachable moment. You have to know something, right? But, I wonder, what the heck do you know about it?

        This appears strange, especially after not seeing you post in like, forever here – @ArtfromArk

        Hell, no... I'm not giving up...

      • #470670
        Voltairine
        Participant
        • Total Posts: 2,567

        see my comment here:
        https://jackpineradicals.com/boards/topic/the-entire-cryptocurrency-market-is-basically-a-ponzi-scheme/

        In your comment you seem to comfuse ‘ponzi’ with non-commodity currencies in general. Both Bitcoin and USD are non-commodity and not representative of any commodity, since Nixon took USD of gold standard. USD is mathematically ponzi, because the creation of negative money (aka debt) needs to grow exponentially in order to avoid collapse. BTC is created as positive money (like metal coins), and it’s higly deflationary, as only finite amount can be minted/mined. Ie. not a ponzi.

        Aloha!

    • #470793
      3fingerbrown
      Participant
      • Total Posts: 4,184

      How can one get rich in Bitcoin?

      All governments lie to their citizen's, but only Americans believe theirs.

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