BTCBitcoin $ 35 893 -2.80% $ -1 098
ETHEthereum $ 2 538 -9.40% $ -177
Market Cap-2.70% $ 1 642 435 378 056
DeFi Market Cap-7.20% $ 79 678 814 350
Hey #Moni Maker 🛴
Yesterday people celebrated World No Smoking Day. But we were not able to post the digest, as our editor-in-chief had to treat a head. F*ck him. So. Of course, tobacco can be extremely dangerous for the human body ... but it is nothing compared to FOMO. FOMO will not lead to cancer or infertility. FOMO will “give” the victim a frustration that will slowly turn an adequate trader into a whiny little girl.
A digest is a good reason to avoid FOMO. Take every day as a preventive measure. Let’s go!
Change your mind twice a day
JPMorgan CEO Jamie Dimon has once again become an opponent of Bitcoin.
At the same time, the bank will not abandon plans to offer its clients investments in cryptocurrencies. At a hearing in the United States Congress, Jamie Dimon stated:
"My own personal advice to people is: stay away from it. That does not mean the clients don't want it,” Dimon said. “This goes back to how you have to run a business. I don't smoke marijuana but if you make it nationally legal, I'm not going to stop our people from banking it."
You're a banker, Dimon. You, bankers, don't bother anyone in your blood as long as they don't touch you.
Why stay away from cryptocurrencies? And closer to what? To your bank? ...
He knows everything about Bitcoin
Tony B. always makes good stuff. We don't even know how to praise him in the next lead. Therefore, we give this task to you!
All models are wrong, some are useful. Part XIII: Puell Multiple
This metric looks at the supply side of Bitcoin's economy - bitcoin miners and their revenue.
It explores market cycles from a mining revenue perspective. Bitcoin miners are sometimes referred to as compulsory sellers due to their need to cover fixed costs of mining hardware in a market where price is extremely volatile. The revenue they generate can therefore influence price over time.
The Puell Multiple is calculated by dividing the daily issuance value of bitcoins (in USD) by the 365-day moving average of daily issuance value.
How It Can Be Used
There are periods of time where the value of bitcoins being mined and entering the ecosystem is too great or too little relative to historical norms.
Understanding these periods of time can be beneficial to the strategic Bitcoin investor.
The chart above highlights periods where the value of Bitcoin's issued on a daily basis has historically been extremely low (Puell Multiple entering green box), which produced outsized returns for Bitcoin investors who bought Bitcoin here. It also shows periods where the daily issuance value was extremely high (Puell Multiple entering red box), providing advantageous profit-taking for Bitcoin investors who sold here.
Interactive chart: lookintobitcoin.com
WE ALL DIE!
Qu Qiang, a Chinese economist and assistant director of the International Monetary Institute at Renmin University, predicted that “we will all die” if bitcoin becomes widespread as a currency. He foresees that our society will fall into a “death spiral of deflation”, noting that “the whole society will shrink and blow itself up”.
The economist clarified: “The whole society will shrink and explode. This is exactly what happened at the end of the Ming dynasty, when they lacked silver. ”
But ... besides ... bitcoin ... there are ... other ... cryptocurrencies ...
Hindus will not lose airdrops
The Reserve Bank of India has issued a clarification that cryptocurrency transactions are not prohibited in the country, so banks and other financial institutions are not allowed to warn customers against digital coin transactions.
The regulator noted that some financial institutions did this, referring to the agency's circular from 2018. The Reserve Bank of India recalled that the aforementioned circular was canceled by the Supreme Court of India back in March 2020.
“The circular is no longer valid […], therefore, it cannot be referenced or quoted,” the regulator said in a statement.
Meme of the Day 😄
And you...buy Bitcoin! 😉 (it's a good time!)