The patient is still sleeping. We know that he lives because he still has a pulse and is breathing. But Bitcoin fell in Odin’s dream. Neither up nor down because the sea froze and now we have a flat and infinite line. Gentlemen, we are in eternal lethargy. There is no choice but to wait. This doesn’t end until the fat woman sings. Nothing happens yet, but something has to happen.
Now let’s talk to the week’s most read crypto messages.
No one has ever blocked the tickets in my pocket. However, I had some problems with crypto exchange. Once, some funds were temporarily blocked. Again my account was closed overnight. Of course I will not say the exchange (brittex). For security reasons, I lost access to my account several times for some time. The key becomes invalid more than three times or something like that. Even if I would like to meet the piñata attacking the dollar at this party, it would be very strange if I knew that similar things had happened to me with Bitcoin. Oh, but it’s not Bitcoin, it’s the exchange! Well, it’s not the dollar, it’s BBVA.
Custody in the hands of a large bureaucracy (a bank) closely linked to another large bureaucracy (state). Here’s the crux of the matter. I have a friend who one day called me desperately because he opened his father-in-law’s $ 1,000 wallet in Bitcoin and forgot the password. “Gustavo, help me, if I don’t get the money back, I have to put the money away,” said the poor devil. What did I tell you? Make yourself comfortable, write to customer support and they will give you a new password. ” Problem solved. The man is still invited to eat at the girlfriend’s house because he hasn’t kept his wallet. I mean, not everything is bad. The trust of a third party also has its advantages. Remember that a market obsessed with not trusting third parties is ironically dominated by centralized exchanges. So we’re not that pure.
The custody dilemmas. The flexibility of a market without much regulation. The risks of a market without much regulation. The fragility of individual responsibility. The convenience of trusting third parties. And the risk of trusting third parties. In my opinion, a solution lies in better FinTech applications. With good software and a better system, bureaucracy can improve. I mean, technology helps. The solution (or part of it) is better codes and better algorithms. The other are reasonable regulations. Not so bald, not even with two wigs.
Predicting the weather has never been so easy. Nobody wants to be this reporter on the channel. People who see the weather channel to choose their daily outfit know very well what I’m talking about. It is best to forget predictions and prepare for all climates. It never hurts to have a coat and a few umbrellas in the car. Never leave your home in a swimsuit due to an optimistic forecast. And even less when it’s still winter. Here is the detail. Winter does not end with a decree. Winter ends when the heat begins.
The current side trend is that we’re almost a song away from calling Bitcoin stablecoin. The volatility is almost zero. And what does that tell us? If volatility is indecisiveness, stability is a decision. This means that the market is obviously happy with the current price. Why is a change announced when there are no cross winds? For boredom. But for me it’s not summer yet, it’s autumn. In other words, a lateral universe. Neither hot nor cold. It is not winter. It is not a summer. But he’s not so happy to say it’s spring. Autumn? For this to change, something has to happen. Give me three hurricanes in a row and we can start talking about sunrises and sunrises.
When the department store closes, the corner kiosk thrives. And because it’s a small company, it can afford higher margins. Obviously it is something that cannot climb very long and does not last long enough. But when it is Sunday there is a fair and the big shops are closed, because suddenly it is worth buying ice cream and the newspaper at the kiosk. The DeFi boom has benefited Ethereum through the association. And investors were looking for the next mini boom in the jungle of altcoins. Well, not everything is Bitcoin and suddenly there are some interesting projects out there. Which are? Well, you have to research.
There’s action everywhere except Bitcoin. Robinhood retailers celebrate on Wall Street with companies like Tesla, Netflix and Amazon. Gold is close to its all-time high. And thanks to our fairy godmother, the Federal Reserve, a waterfall with money falls from the sky.
While all of this is going on, Bitcoin is hibernating in its cave. He doesn’t even wake up to the sound of the missiles. Of course, kryptonates are very restless when they sit and just sit still on the bay dock and waste time. This wild energy has to be channeled. So far, the answer has been altcoins. Is it temporary? Is it the start of a season? I think we’ll see when the animal wakes up. If Bitcoin is moving, we will know.
Elon Musk is a brilliant startup founder, but it remains to be seen how good he is as an industrialist. That means he knows how to start a business and that it needs a lot of value. Create a product, sell a dream and make investors fall in love. But does it generate corporate income? In other words, does the dream lead to corporate profits over years and decades? Investors pay for their dream and for a possible, probable, hypothetical future. And they do it with a smile. Because they are in love with Elon and love doesn’t stop for reasons.
While the billions you have on paper have increased tremendously, it is important to note that it is too early to win. Tesla is not Amazon, Microsoft, or Berkshire Hathaway. Its rise is much more speculative because it is based on a future that has not yet arrived. Of course, I’m not saying Tesla is a scam. Only future profits are riskier than past or current profits. The future is constantly changing. We cannot take anything for granted. In other words, given the dizzying surge in Tesla stocks, I wouldn’t be surprised to see a dramatic correction in the future.
It is always good news to hear that the mining industry is strong. The halving was practically yesterday and there are miners who are investing in the future. While it is true that everything indicates that the little miner will be crushed by the big ones, that does not mean that it is the end of the world. It is stupid to think of the idyllic past and dystopian future in terms of centralizing mining. How many miners did we have in the early years? We have to remember that Bitcoin started with a miner: Satoshi. Big or small. Miners, welcome! Thank you for your great work.