Tag: bitcoin

Guest Post by Nick Giambruno

Bitcoin has been likened to the platypus… which sounds like an odd comparison.

The platypus is a strange duck-billed mammal with webbed feet and a furry body like a beaver. It has characteristics of birds, mammals, and reptiles. Females lay eggs but also nurse their young with milk. Males produce a potent venom.

When Europeans discovered the platypus in Australia in 1798, they wrote letters to folks at home to describe this bizarre new animal. People thought the platypus was a joke or a hoax—because it didn’t fit into the classification of animals at that time. Continue reading “3 Things Most People Don’t Know About Gold, Bitcoin, and Money”

Guest Post by Nick Giambruno

FTX—one of the world’s largest cryptocurrency exchanges—recently went bankrupt.

Many billions of dollars in value evaporated in minutes as this unsound institution collapsed.

It has created a genuine “blood in the streets” moment, weighing heavily on the Bitcoin price.

Bitcoiner Matt Odell summed it up best:

“This is a story of fiat incentives, shitcoin games, regulatory corruption, and counterparty risk that ended in inevitable disaster. It will serve as an expensive reminder that bitcoin held in self custody is unique in its lack of counterparty risk. You can easily and cheaply store it yourself and send it around the world without trusting anyone or asking for permission. Learn how to hold bitcoin yourself and use it in a sovereign way.”

It deserves emphasis that FTX, and other companies like it, are not at all the same thing as Bitcoin—an emerging global money that nobody can inflate or control and is accessible to anyone. Continue reading “3 Ways You Can Turn Bitcoin’s Volatility to Your Advantage Today”

by Nick Giambruno

The notion that the US government will ban Bitcoin is popular for a good reason.

Bitcoin threatens a significant source of the government’s power—the power to create fake money out of thin air and force everyone to use it.

That’s because Bitcoin can give monetary sovereignty to the individual and render central banks obsolete—along with their confetti currencies.

That’s no small accomplishment.

It’s a historical development that profoundly alters the status quo between the rulers and the ruled. It’s similar to the invention of gunpowder, the printing press, and the Internet.

There’s no question the US government would want to protect their racket from an encroaching monetary competitor in the same way the mafia does when a rival encroaches on their turf.

The $64,000 question is whether they’ll be successful. Continue reading “Can the Government Ban Bitcoin? Three Things You Need To Know Today”

Guest Post by Nick Giambruno

Few people know that a quadrillion comes after a trillion.

Even fewer know that a quintillion comes after a quadrillion.

That’s partly because the human brain can’t understand a number so large. It’s also because there aren’t many topics of conversation where these large numbers are relevant.

A trillion is an enormous, almost incomprehensible number.

For example, a trillion seconds ago was about 30,000 BC.

It’s common knowledge that the astronomical US government spending, deficit, and debt figures all reach into the trillions. But other than that, finding something that runs into the trillions is not something most people are familiar with.

What about a quadrillion?

A quadrillion seconds ago was about 32 million years ago.

Continue reading “209 Quintillion Calculations per Second and the World’s Most Secure Computer Network”

Guest Post by Nick Giambruno

It’s been a blood bath in the broader markets and with Bitcoin specifically.

The cascading effects of the potential insolvency of Celsius—a shady Bitcoin and altcoin lending platform—are weighing heavily on the Bitcoin price. People with Bitcoin on Celsius are no longer able to withdraw.

However, I’d like to emphasize that Celsius—and other companies like it—are not the same as Bitcoin. For example, suppose there was an unscrupulous gold storage company that went insolvent. That wouldn’t mean gold is faulty.

Continue reading “Bitcoin’s Recent Volatility Creates Rare Opportunity… Here’s What Could Happen Next”

Guest Post by Eric Peters

One of the problems with “crypto” is just that – no one seems to know exactly what it is.

Or at least, no seems able to explain what it is.

Somehow, a digitized online representation of a “coin” has immense value, though what gives it any value is difficult to understand. It is not backed by precious metals. It is not issued by a bank.

It’s just there, on the screen.

The willingness of a sufficiency of people to accept that it has value is apparently the source of its value. Dirt could work on this principle. To be fair, crypto is not dirt – and it is not materially different from U.S. dollars, which have value chiefly because people accept them as having it.

Continue reading “Bitcon . . .?”