“Bitcoin to reach over 300K by the end of 2021” -A senior analyst at U.S.-based financial giant Citibank has penned a report drawing on similarities between the 1970s gold market and bitcoin.
Newly elected U.S. Senator Cynthia Lummis talks about Bitcoin being a store of value and also the first US-Senator to “HODL” bitcoin and wants to bring Bitcoin to the national conversation. Now, this could be a good and a bad thing. The obvious thing is that everyone is going to know bitcoin the bad news is that if the US government feel its a threat to the US dollar they could try to create laws or tax bitcoin holder to oblivion.
Fidelity Digital Assets validates a model that predicts Bitcoin price at $1 million by 2024 because of the stock-to-flow ratio. Fidelity President has also Files For New Bitcoin Fund
The trillion-dollar asset manager Fidelity is scrutinizing a popular and controversial Bitcoin price model.
A recent report from Fidelity Digital Assets analyzes the stock-to-flow ratio, which divides the amount of a commodity in circulation by the amount mined per year.
Using the correlation between an asset’s price and its S2F ratio, the pseudonymous crypto analyst PlanB has predicted that Bitcoin’s value will soar to $1 million by 2029.
Although there is a fierce debate on whether the stock-to-flow ratio is an accurate way to forecast Bitcoin’s trajectory, Fidelity says the model is a credible tool for analyzing scarce assets. The firm says historically, the metric is a sound way to judge whether a given commodity will become a successful store of value.
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This shows how small the Bitcoin market cap is compared to real-world companies.
What the media is hiding from the people of the world and as the gentleman said the only way to exit the economy and allow the Fiat collapse under its own weight.
And on July 4th, 2020 every person in the world needs to buy any amount of bitcoin to show the world the power of Bitcoin to show our independence and vote with our pocketbook to leave Fiat forever.
Bitcoin is a bottom-up approach to bringing black Americans to the top 1% of society’s independence from under the thumb of the Government and the control through social programs to get our vote. We need to stop fighting about black and white, Republican or Democratic, and all work together and exit the economy through Bitcoin.
This is a great book review of Bitcoin and Black America and hearing from the readers and there insight and thoughts on the future of Black Americans.
As America burns and people are losing their jobs and soon to we will have a foreclosure Tsunami approaching wall street is enjoying a rebound in the market from the freshly printed cash thanks to there friends at the federal reserve
The MCO Visa Card has added additional rewards that are designed to fit the needs of consumers who are always on the move. Building on the existing travel rewards of the MCO Visa Card, which include free and unlimited LoungeKey™ Airport Lounge Access, interbank exchange rates, and no overseas fees, select cards will have:
Rebates of the purchases will be alloted to cardholders with MCO Tokens locked at their respective card tiers. An ongoing MCO Token lockup is required to continue receiving purchase rebates.
The MCO equivalent to the transaction amount will be deposited to the cardholder’s MCO Wallet, which will be reflected instantly with each eligible transaction.
The limit for the purchase rebates are as follow:
Purchase rebates will be reimbursed to the USD equivalent. The rebate cap is reset on the first day of each month.
With an ongoing MCO Token lockup, cardholders will receive the extra % back per card tier as follows:
Obsidian Black – 2% → 5%
Icy White/Rose Gold – 1.75% → 4%
Royal Indigo/Jade Green – 1.5% → 3%
Ruby Steel – 1% → 2%
For Midnight Blue, cardholders will receive 1%, MCO Token lockup is not required.
In the event cardholders choose to unlock, they will still enjoy the existing cashback of up to 2%.
Founding Members, who will receive a numbered limited edition Obsidian Black card, will have the flexibility to select their desired MCO Token lockup level to enjoy the new rewards based on the card tier (refer to the chart above).
For % back, in the event a founding member locks up:
Founding Members will still receive the basic card % back of 2% for Obsidian Black cardholders in the event that they choose not to lockup.
On top of the 2% back, your card benefits (e.g. LoungeKey™ Access + 1 Guest, fee-free ATM withdrawal limits and Interbank Exchange Rates) will not change.
A series of upgraded MCO rewards and benefits, together with Crypto.com Private, tailored for our Obsidian Black, Rose Gold and Icy White cardholders***
This builds on our existing benefits for these cardholders which include up 5% back on all spending, unlimited LoungeKey™ Airport Lounge Access with a guest, Airbnb and Expedia rebates among other benefits. Revisit them here.
The upgraded rewards for Icy White, Rose Gold (5,000 MCO) and Obsidian Black (50,000 MCO):
How do I get the extra 2% bonus interest on Crypto Earn?
.1. You’re actively staking 5,000 MCO or more
2. Applicable for any non-CRO/MCO fixed term deposits made after March 1, 2020
Please refer to Crypto Earn for more information, includes steps to complete deposits.
Is it live already?
Yes, please allow up to 36 hours for the reimbursement to be reflected in the App.
How does it work?
Just use your MCO card to pay for the Amazon Prime membership, and get reimbursed in MCO afterwards.
Please note that the reimbursement has a cap of 12.99 USD per month, so please choose the monthly payment option instead of the annual one.
We are currently completing the sourcing of this. We will be in contact when ready to gather the users sizes. The process has been slowed by the impact of the virus on many production locations.
How does it work?
*This is exclusive for our Obsidian Black cardholders actively staking 50,000 MCO
With the Private Jet Service, you could unlock exclusive luxury privileges on your first flight with one of the largest private jet network in the world (inc. Dom Perignon service).
Eligible Obsidian Black cardholders, please contact our support team to submit your booking request.
***In order to enjoy the Crypto.com Private membership, users are required to maintain the following MCO staking levels:
Obsidian Black: 50,000 MCO
Icy White / Frosted Rose Gold: 5,000 MCO
Sign up for an MCO Visa Card by downloading the Crypto.com App. Existing cardholders may be able to upgrade to a new card tier if desired.
Visit the respective sites and pay for your subscription with your MCO Visa Card*. For existing users of Spotify/Netflix, go to the subscription and payment page to change your payment method to the MCO Visa Card.
Note: Enabling International Usage may be required
Make your payment as usual using your MCO Visa Card. Crypto.com will deposit the MCO equivalent of the rebate to your MCO Wallet.
The user may immediately convert the MCO Tokens into other cryptocurrencies or fiat currencies.
Yes, You should make the payment or change the current payment method to the MCO Visa card for the subscription in order to enjoy the rebates.
You need to have the sufficient amount in your balance for payment.
*This offer is launched by Crypto.com independently and there is no partnership between Crypto.com and the merchants in this offer. Crypto.com has the sole discretion to modify this offer at any time.
For US Customers: BY USING THIS CARD YOU AGREE TO THE TERMS AND CONDITIONS OF THE CARDHOLDER AGREEMENT AND FEE SCHEDULE, IF ANY. This card is issued by Metropolitan Commercial Bank (Member FDIC) pursuant to a license from Visa U.S.A. Inc. “Metropolitan Commercial Bank” and “Metropolitan” are registered trademarks of Metropolitan Commercial Bank ©2014.
We will both be receiving $50 when signing up
Raoul Pal says “Boomers are in for a rude awaking The Baby Boomers are totally f*cked I have been publicly warning and warning about this.”
CEO Raoul Pal is noting that the COVID-19 coronavirus pandemic is revealing substantial system weakness in global markets. Summarizing the dramatic market losses seen in the stock market during March, Pal notes the Baby Boomer generation will be hit the hardest.
“The damage this does to the US pension system is incomprehensible. The Baby Boomers will sell every rally they can to protect their last, rapidly diminishing nest egg.”
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Wealth is never destroyed it’s transferred.
When countries devalue their currency just as Lebanon has done to there own people.
The people that worked day to day and year after year to save their money for the future for there children, cutting expenses, living frugally, being disciplined.
To see there own money lose 50% in value and only to see there blood sweat and tears to evaporate in front of there own eyes is sad.
This leads me to believe that inflating away the currency is a way to prevent people from getting to the top.
Banks ensure our accounts from losses of up 250k, but who ensures us when the federal government prints unlimited amounts of money and devalues our currently to zero.
You are always investing even if you’re just holding the US dollar because this is weighed against other assets.
Real estate, precious metals, and Bitcoin is a good hedge against fiat currency but this is not financial advice and invest at your own risk.
Everyone thought Bitcoin was supposed to go to zero. Instead, we saw Oil go into negative territory for the first time in history. I guess bitcoin was a good hedge against oil at this time who would have thought.
It’s sad to see toilet paper is worth more than oil these days.
Dan Peña said Bitcoin is going to Zero a year ago. I wonder if he saw the price of oil go into negative territory as well. On the other hand, If Dan knows Satoshi himself I assume he is talking to the wrong Satoshi Nakamoto aka Craig Wright. In ending I have always said in the past do what smart money does not what they say because actions speak louder than words in my book and if Bitcoin plummets smart money will pick it up on the cheap.
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As part of Bitcoin’s coin issuance, miners are rewarded a certain amount of bitcoins whenever a block is produced (approximately every 10 minutes). When Bitcoin first started, 50 Bitcoins per block were given as a reward to miners. After every 210,000 blocks are mined (approximately every 4 years), the block reward halves and will keep on halving until the block reward per block becomes 0 (approximately by year 2140). As of now, the block reward is 12.5 coins per block and will decrease to 6.25 coins per block post halving.
Bitcoin was designed as a deflationary currency. Like gold, the premise is that over time, the issuance of bitcoins will decrease and thus become scarcer over time. As bitcoins become scarcer and if demand for them increases over time, Bitcoin can be used as a hedge against inflation as the price, guided by price equilibrium is bound to increase. On the flip side, fiat currencies (like the US dollar), inflate over time as its monetary supply increases, leading to a decrease in purchasing power. This is known as monetary debasement by inflation. A simple example would be to compare housing prices decades ago to now and you’ll notice that they’ve increased over time!
Since we know Bitcoin’s issuance over time, people can rely on programmed/controlled supply. This is helpful to understand what the current inflation rate of Bitcoin is, what the future inflation rate will be at a specific point in time, how many Bitcoins are in circulation and how many remain left to be mined.
The network itself controls the issuance of Bitcoins, derived by consensus through all Bitcoin participants. Ever since Bitcoin was first designed, the following consensus rules exist to this day:
Any change to these parameters requires all Bitcoin participants to agree by consensus to approve the change.
The first halving event occurred on the 29th of November, 2012 at block height 210,000. The second halving event occurred on the 10th of July, 2016 at block height 420,000.
It is always a debate on what Bitcoin will do in terms of pricing for a halving event. Some people believe that the halving is already priced in by the market and thus there’s no expectation for the price to do anything. Others believe that due to price equilibrium, a halving of supply should cause an increase in price if demand for Bitcoins is equal or greater than what it was before the halving event. Below is a chart showing past price performance of the two halving events:
info provided by bitcoinblockhalf
Fold has partnered up with Visa and created the first cashback in the form of Bitcoin.
“People are not interested in spending Bitcoin right now, but are interested in accumulating it,” This gives them a way to earn and hodl for the long hall.
On the other had this sector is growing rapidly because Coinbase has now also become the First ‘Pure’ Crypto Firm Approved as Visa Principal Member