This will prevent you from losing money as well.
Bitcoin is becoming more and more talked about. A sign that something important is happening in this year 2020, the criticism of Bitcoin is becoming less and less virulent. More and more people are choosing to opt for Bitcoin.
Those who have not yet taken the step remain more discreet than before because they now have real doubts about the current monetary and financial system.
These people are finally beginning to open their eyes to the flaws of the current system, which will celebrate its 50th anniversary in August 2021. Temporarily introduced by Richard Nixon, this system can be compared to an experiment that goes wrong. Its injustice becomes blatant. Worse still, it wreaks havoc by harming hundreds of millions of people on Earth.
Bitcoin is increasingly seen as the only credible alternative available to leave the vicious circle in which the current system locks us.
This vision is the right one. It is driving many people to buy Bitcoin. If you are in this situation where you are ready to take action to buy Bitcoin, I would like to alert you one last time so that your journey into the Bitcoin revolution is truly exceptional.
To succeed in enjoying Bitcoin to the fullest, you will need to demonstrate 5 essential qualities. If you don’t feel up to it, I can already tell you that you would make a mistake by buying Bitcoin.
Since I am a Bitcoiner, my goal is certainly not to discourage you from buying Bitcoin for the rest of your life. On the contrary, I believe that buying Bitcoin and engaging in this incredible revolution will change your life.
However, for the Bitcoin revolution to change your life, you will have to enter it in the right way. This means being aware of your current limitations. If that is the case, you will need to work on those weaknesses by deepening your knowledge.
Then, you can take action with the best possible chance on your side.
The traditional education system taught you the knowledge you needed to get a job at the end of your studies. This is a good thing because it allows you to live a decent life every day.
However, this educational system has probably also locked you into a very specific way of thinking.
Things about money or economics have never been taught to you. Everything is done with the educational system to leave you in complete ignorance of these essential things.
The famous Henry Ford once explained very well why:
“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”
— Henry Ford
The current monetary and financial system is so unfair that if the people were to notice it, a real popular revolution would take place as early as tomorrow morning.
This is what Henry Ford said at the time. And he was right!
Before you buy Bitcoin, you’re going to have to find out for yourself why the current system is flawed. You will need to do the research necessary to open your eyes to this ugly truth: the current system is not fixable.
You can only reach this level of understanding if you have a deep desire to learn more and more new things.
This comes through reading. You will need to be able to read a lot. Bitcoin encourages you to make up your mind about things. The success of Bitcoin lies in the fact that everyone is free to form their own opinion about the truth with Bitcoin.
If you don’t have this fundamental quality, you shouldn’t buy Bitcoin. Sooner or later you will end up making bad choices.
Those who do not have a sufficient desire to learn to make bad choices with Bitcoin because they have not been able to gain real confidence in the Bitcoin revolution.
When the Bitcoin price reaches $3.8K and loses more than 50% of its value as it did in March 2020, you should have full confidence in its revolution.
Those who do not trust Bitcoin will sell what they own in BTC and lose money.
You must open your eyes to understand that Bitcoin is a true monetary revolution. More than technology, Bitcoin is money. Don’t be afraid that Bitcoin will be replaced by another cryptocurrency that launches itself with a technology allegedly better than its own.
The real competition is not in technology but in monetary attributes. And in this area, the real revolution has already taken place with Bitcoin.
Bitcoin is a unique invention in the history of mankind. From now on, Bitcoin will be progressively improved to become a better version every time.
This total confidence in Bitcoin will help you to adopt the best possible strategy. It is also the simplest: becoming a Bitcoin HODLER.
To become a Bitcoin HODLer, you will need to be patient. Many consider HODLing Bitcoin to be a boring strategy. They are right! And that’s why HODLing Bitcoin works so well.
Remember what billionaire George Soros once said:
“If investing is entertaining, if you’re having fun, you’re probably not making any money. Good investing is boring.”
— George Soros
Bitcoin is not a game. It is a very serious thing. A real revolution is taking place before your very eyes. By buying Bitcoin, you are choosing to support this revolution that wants to build a better world for all in the future.
It will take time for the Bitcoin revolution to reach its full potential. If you are not able to be patient, do not buy Bitcoin. You may make bad choices because of your impatience.
Some of the bad choices you might be tempted to make include:
- Buy Sh*tcoins that claim to be the next Bitcoin. As a reminder, Bitcoin is already the next Bitcoin.
- Becoming a Bitcoin Trader when you probably don’t have the required skills for being a trader.
- Selling your Bitcoins at a loss for fear of seeing Bitcoin price go to zero.
So think twice before buying Bitcoin. If you are not able to be patient enough, it is because you haven’t learned enough about Bitcoin and money in general. See the first point of this story.
The day you are ready to enter the Bitcoin revolution, you will appreciate the fact that HODLing Bitcoin is a boring strategy. It will give you more time to learn always more things about Bitcoin.
In the previous quote by George Soros, he explains very well that investing should not be fun. A winning investment is a boring investment. The fun side is in the search for the investment. This is 1% of the time in a winning investment.
The remaining 99% of the time is about being patient and waiting for the right choice to pay off.
With Bitcoin, you have already found the winning investment. You’ll be sure of that if you’ve gained full confidence in the Bitcoin revolution. The rest will only be a matter of patience.
If you are patient, you will be able to control your emotions.
Would you like an example of the mistakes that some people make that show they can’t control their emotions?
Recently, Internet celebrity David Portnoy revealed in a hugely publicized video that he bought over $250K worth of Bitcoin. Known for his exuberance, he explained that he plans to make millions of dollars with this investment.
And then, less than 15 days after he bought Bitcoin, David Portnoy got scared after the Bitcoin price dropped from $12.4K to $11.2K. This volatility in the Bitcoin price in a few hours is not extraordinary.
Those who have taken the time to study Bitcoin and how it works know very well that Bitcoin’s price volatility is a feature, not a bug.
You can make volatility your best ally, but you need to have real confidence in Bitcoin. Unfortunately, this volatility of Bitcoin price has become the worst enemy of David Portnoy who sold his Bitcoins at a loss. In this story, he lost more than $25K.
He then explained that the stock market was much better than Bitcoin…
For me, this is an example of someone who bought Bitcoin without really understanding what the Bitcoin revolution was. When the Bitcoin price dropped, David Portnoy let his emotions take over and lost money.
If you can’t control your emotions and make your choices based only on your sense of logical reasoning, Bitcoin is not for you.
The first four essential qualities that I have just presented to you will allow you to have this last essential quality: to have a long-term vision.
With Bitcoin, you must have a long-term vision.
If you buy Bitcoin thinking that you will make a fortune in one year, you are mistaken and you are facing serious disappointments. Bitcoin is much more than a get rich quick scheme. It is your way out of the vicious circle of impoverishment into which the current system plunges you.
Second, Bitcoin aims to build a better world for everyone. A fairer world where everyone will have the same opportunities.
This will not happen overnight. You need to be able to take a long-term view when buying Bitcoin. That way, you will be able to apply the best strategy available in the Bitcoin world:
- Buy Bitcoin.
- HODL Bitcoin.
- Iterate from Step 1.
This strategy is simple, but it is the one that has been proven since the creation of Bitcoin. Often the simplest strategies are the best. This is the case with Bitcoin.
If you apply this strategy to the letter, you will be on your way in the long run.
The more time passes, the more you will understand that Bitcoin offers you an incredible luxury in this uncertain world: the possibility of opting for low time preference.
Bitcoin is changing the lives of those who understand its potential for the world of the future and choose to fully support its revolution. All Bitcoiners will tell you that Bitcoin has changed their lives forever. Faced with the flaws of the current system, we now have an alternative with Bitcoin.
If you have the 5 essential qualities that I have just revealed, you will be able to buy Bitcoin and fully enjoy its revolution. If you don’t already have them, I urge you not to rush.
Keep on learning, and when the time comes, you will see that Bitcoin is our only alternative in today’s world.
NextGen Blockchain Platforms Self-Organize to Win Government Contracts
Over the past year, blockchain development communities have turned their attention towards winning government contracts.
Washington, DC. There is a huge opportunity presented by increased government spending on blockchain projects. According to Bloomberg Government BGOV200 Report, federal government spending reached $597 Billion in 2019. However, since new businesses face barriers gaining direct access to government contracts, many have joined the Government Blockchain Association (GBA) to introduce their cutting-edge blockchain platforms to the public sector.
Traditionally government program managers choose to work with the same few legacy companies. For example, there are currently over 4.1 million US Federal government contractors but of the $597 billion in prime contracts awarded in FY19, the top 10 government contractors received $173.4 billion according to Bloomberg Government. However, the COVID-19 Global Pandemic was a catalyst that necessitated governments from around the world look at bold and innovative new ways to solve problems from a more diverse community.
In March of 2020 the US Department of Health and Human Services hosted a virtual Pandemic Response Hackathon. This hackathon idea completely changed the former process of government acquisitions. The slow pattern of the past was rewritten to adopt to the chaos, uncertainty, and urgency of COVID. Government contracts went from a centralized channel to open and decentralized solutions coming in from completely new sources. A new way of doing business was introduced to the world stage, and in November 2020 the Indian Ministry of Electronics and Information Technology (MeitY), National Informatics Centre (NIC) held their own up a GovTech Hackathon. Throughout 2020, countless examples of crowdsourcing solutions contested the traditional procurement processes.
Along with new paradigms in acquisitions, 2020 brought explosive growth of decentralized development communities and platforms. Decentralized communities operate on independently run servers, rather than on a centralized server owned by a business. Initially, most blockchain solutions were private-permissioned blockchains dominated by a single vendor. One of the most popular government blockchain solutions is Hyperledger Fabric. Though it is technically an open-source project, almost 80% of software changes to Hyperledger Fabric came from IBM, demonstrating an ongoing dependence on IBM to maintain the code.
Lately, next gen blockchain solution providers have been self-organizing into working groups and communities to compete in the contracts space. The largest and most engaged of these decentralized communities is the Government Blockchain Association, with members in over 500 Government Offices, thousands of public and private sector members in 120 Chapters, and more than 50 Working Groups, and 25 Communities of Interests. They also host regular online and in-person events to introduce blockchain solution providers to government officials, promoting this new diverse community.
Some of these next gen blockchain leaders include:
- DragonChain – DragonChain is an enterprise and start-up-ready platform to build flexible and scalable blockchain applications. It has business-ready applications and developer-friendly integrations that support many applications including learning management systems, decentralized identity, and anti-fraud and compliance solutions.
- NEM – A community that has developed two blockchains. They are NEM NIS1 and Symbol. NEM NIS1 is the original blockchain offering from NEM, created by the community, and optimized to be a developer’s sandbox. With zero downtime or major outages since 2015, NIS1 is the blockchain you can trust for all your project needs. Symbol is the next-generation enterprise-grade blockchain solution from NEM, purpose-built to help businesses cut costs, reduce complexities, and streamline innovation. With major upgrades in flexibility, security, speed and ease of use, the Symbol platform is the best-in-class blockchain enterprise solution.
- Simba Chain – SIMBA Chain is a cloud-based, blockchain-as-a-service (BaaS) platform, enabling users across a variety of skill sets to implement decentralized applications (dapps). These apps allow secure, direct connections between users and providers, eliminating third parties. The easy-to-use platform is tailored for users, developers, government, and enterprises to quickly deploy blockchain dapps for iOS, Android, and the web.
- TON Labs – TON Labs is the core developer of Free TON, comprised of a decentralized team focused on developing the infrastructure and free software for TON OS. TON OS is a full-fledged, vertically integrated technology stack that helps developers work easily with the blockchain and makes it simple and intuitive for users.
Decentralized blockchain projects include the Government Business Blockchain Platform (GBBP). This multi-blockchain platform allows solutions built on any blockchain to connect and become available to governments around the world. Sub-set eco-systems include Emergency Management, Healthcare Delivery, and Citizen Services. Blockchain applications can interconnect on the GBBP, providing identity management, logistics, asset management, payments, and many other blockchain services.
These examples demonstrate how blockchain providers are working together, self-organizing into decentralized entities to build public-facing blockchain solutions. GBA groups regularly host online meetings to discuss their projects. Anyone interested in joining the discussion can find out more on the GBA Events Calendar or Events List. Later this year the GBA will be bringing World-Class Leaders to Washington, DC for Government Blockchain Week on Sept 27 to Oct 1, 2021.
Robinhood Reports 6 Million New Crypto Traders in 2021
In a blog post on Feb. 26 titled “Crypto goes mainstream” the retail trading app revealed that it had seen six million new customers on Robinhood Crypto so far this year.
The number of new monthly customers buying from its crypto platform in 2021 is 15 times the 2020 average.
“By comparison, this number peaked at 401,000 in a single month last year, with a monthly average of about 200,000 customers trading on Robinhood Crypto for the first time during 2020.”
Robinhood, which had to halt trading in late January due to overwhelming demand, offers just seven tradeable crypto assets; Bitcoin, Bitcoin Cash, Bitcoin SV, Dogecoin, Ethereum, Ethereum Classic, and Litecoin.
There are no trading size limits though it added that the average transaction size is around $500. The chart provided indicates that the average trade was around half of that at $200 to $250 for the previous year.
First-time buyer? Long-term #HODLer? 🚀 This year, six million of you used Robinhood Crypto for the first time to buy and sell #crypto. We fully intend to provide the ability to deposit and withdraw cryptocurrencies.💥 Learn more: https://t.co/8VQhKtWB32 pic.twitter.com/rwsVdlNIg3
— Robinhood (@RobinhoodApp) February 25, 2021
Retail Traders Surging
The app offers an intuitive user interface and educational articles that explain cryptocurrencies. It is targeted at newbies that may not have the technical knowledge to operate more advanced trading platforms.
It also offers zero-fee trading, but makes money on spreads between makers and takers.
The report reinforces the premise that retail has arrived after months of steady institutional investment which has pushed many high cap crypto assets including Bitcoin and Ethereum to their highest ever prices.
“The numbers are clear: 2021 has started with a crypto bang.”
In a Feb. 18 note from company CEO and co-founder, Vlad Tenev, it was revealed that the total value of customer assets on Robinhood (for all markets) exceeds the net amount of money they have deposited by over $35 billion. He added;
“While markets fluctuate, this tells me that our business model is working for everyday Americans.”
Crypto Correction Deepens
The Robinhood numbers are bullish for overall sentiment, but the crypto correction is deepening and March is usually a bearish month for markets.
Since its all-time high of $1.78 trillion on Feb. 22, total market capitalization has declined by 18% to $1.46 trillion today according to Coingecko.
Bitcoin has been leading the drop as usual with an 18.7% fall from its $58k peak last weekend to just over $47k at the time of press. Meanwhile, Ethereum has been hit even harder, retreating 27% from its ATH of over $2k to below $1,500.
Another 30% correction could be on the cards, echoing the one that occurred in early January when Bitcoin prices dropped below $30k before recovering to a new high. The bigger picture still paints a bull market.
Kraken Daily Market Report for February 25 2021
- Total spot trading volume at $1.86 billion, near the 30-day average of $2.08 billion.
- Total futures notional at $780.0 million.
- The top five traded coins were, respectively, Bitcoin, Ethereum, Tether, Cardano, and Polkadot.
- Strong returns from Lisk (+16%), Litecoin (+11%), Synthetix (+12%), Kyber Network (+11%), and Kava (+11%).
|February 25, 2021
$1.86B traded across all markets today
Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD
#####################. Trading Volume by Asset. ##########################################
Trading Volume by Asset
The figures below break down the trading volume of the largest, mid-size, and smallest assets. Cryptos are in purple, fiats are in blue. For each asset, the chart contains the daily trading volume in USD, and the percentage of the total trading volume. The percentages for fiats and cryptos are treated separately, so that they both add up to 100%.
Figure 1: Largest trading assets: trading volume (measured in USD) and its percentage of the total trading volume (February 25 2021)
Figure 2: Mid-size trading assets: (measured in USD) (February 25 2021)
Figure 3: Smallest trading assets: (measured in USD) (February 25 2021)
#####################. Spread %. ##########################################
Spread percentage is the width of the bid/ask spread divided by the bid/ask midpoint. The values are generated by taking the median spread percentage over each minute, then the average of the medians over the day.
Figure 4: Average spread % by pair (February 25 2021)
#########. Returns and Volume ############################################
Returns and Volume
Figure 5: Returns of the four highest volume pairs (February 25 2021)
Figure 6: Volume of the major currencies and an average line that fits the data to a sinusoidal curve to show the daily volume highs and lows (February 25 2021)
###########. Daily Returns. #################################################
Daily Returns %
Figure 7: Returns over USD and XBT. Relative volume and return size is indicated by the size of the font. (February 25 2021)
###########. Disclaimer #################################################
The values generated in this report are from public market data distributed from Kraken WebSockets api. The total volumes and returns are calculated over the reporting day using UTC time.
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