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It is Thursday; get your coffee ready, stack some sats and sit down for your daily dose of Bitcoin signal!
P.S. We're giving away Bitcoin 2022 tickets, check out the giveaway at the bottom for details. | | Today's Rundown: - On Track For $100,000. Bloomberg Intelligence reports bitcoin on track for $100,000.
- IMF Warnings. Warnings from the IMF against bitcoin as a national currency.
- Call To Action. The Bitcoin community must engage politically to fix dangerous infrastructure bill.
- Bitcoin Has No Age Limit. Turning his back to college and following a bitcoin path.
Let's do this. | | | Bloomberg Intelligence Report: Bitcoin Price 'On Track' For $100,000
By Alex Mcshane A new report from Bloomberg Intelligence suggests the Bitcoin price may soon approach $100,000, should historical trends continue.
Bloomberg released July's issue of "Bloomberg Crypto Outlook" titled Bitcoin Going for the Gold.
The report notes that Bitcoin is in essence turning the world digital. They mentioned that the maturation of the asset over the last few years is palpable. While its demand and adoption are rising at a fast paced and the supply is declining, it signals a recipe for price appreciation that could get Bitcoin back on track to $100,000.
"The dip in the Bitcoin bull-market appears over, and an end of the bounce in crude oil may provide underpinnings." - Mike McGlone | | IMF Issues New Warning Against Using Crypto Assets As A National Currency
By Mark Moss As Bitcoin gains momentum around the world, financial regulators step up their game to try and save the crumbling financial system.
It has been clear from late statements of the IMF that they are not so fond of bitcoin, and it might be possible that it could be seen by them as a threat if people start to adopt it as a national currency. An example is the case of El Salvador, where the IMF denied aid on its implementations based on "Transparency Shortcomings".
In this article, Mark Moss, digests the latest blog post released by the IMF, "Cryptoassets as a National Currency? A Step Too Far" where they issue a public warning against it. He helps us see the light and find out what are they missing?
"Inflation means that my money is losing value. It's losing purchasing power. I wouldn't call that stable, nor do I accept my money losing value at a steady rate of a central bank's choosing. To me, stability means my wealth doesn't get inflated away." - Mark Moss | | Your daily dose of signal:
1. The Bitcoin Exam helps you identify gaps in your knowledge with 50 questions that challenge your understanding of Bitcoin.
2. Explaining the factors behind bitcoin's price drop this year and exploring the latest in central bank news.
3. New Spanish bill aims to enable innovation in different sectors but shows a lack of understanding of Bitcoin and its real innovation.
4. Ray Dalio, co-chief investment officer of Bridgewater Associates, one of the world's largest hedge funds, owns some Bitcoin, but in an interview with CNBC today he demonstrated that he doesn't understand or believe in it as a superior store of value to gold.
5. Bitcoin Optech Newsletter: details how to prepare for Taproot, releases and changes to Bitcoin infrastructure projects.
6. Venture capitalist Marc Andreessen continues to send mixed signals on Bitcoin at a time when it remains unclear how supportive the influential firms he has founded are of the technology.
7. Hut 8, publicly traded mining company, has seen its Bitcoin mining production increase by 50 percent in the wake of China's crackdown on its domestic industry. | | | The language in the infrastructure bill is an example of why the Bitcoin community has to engage politically.
The Infrastructure bill being proposed by congress, contains some specific clauses difficult to interpret where they proposed heightened reporting requirements for "brokers'' of digital assets, a digital asset being any digital representation of value recorded on a cryptographically secured distributed ledger or similar technology.
The purpose of the bill is to capture revenue from underreporting taxable events, for which Legislators seek to impose obligatory processes to ease up the IRS work. According to the bitcoin community, the bill is a realization that members of Congress do not fully appreciate the complexity of the technology they attempt to regulate and is a call to action for bitcoiners to get more involved with policymakers and to educate their local communities.
"However, it is possible that this recent fire drill over the infrastructure bill could have been avoided if Bitcoiners had made a more consistent effort to engage with policymakers and spread awareness of how the Bitcoin network operates. The Bitcoin community has the potential to drive the debate and foster adoption through political activism." - Joe Carlasare & Amanda Cavaleri | | Nick Sears Said No To College. Yes To Bitcoin, Is Making $54,000 A Year.
By Namcios Sears was 17 years old when he got into BTC mining, now he is 19, oversees a farm with 4,500 ASICs, and makes $54,000 a year.
The bold story of a Nick Sears who at the age of 17, after falling into the bitcoin rabbit hole, decided to help build a bitcoin mining farm instead of going to college. The mining facility is a hydro-powered one housing 4,500 ASICS running 100% on clean energy.
His job consists of being assured that all the machines are properly working, and if one has stopped, repair it, and find out the reason in order to avoid future recurrences. After two years, Sears is happy to focus his career on Bitcoin and hasn't thought of going to college any time soon. | | By Greg
Money printing seems to ease the current pain but it ends up being nothing more than a "high five". It's a little stimulus to keep morale high, while in reality, it is debasing every individual, having them drown in slow motion.
Keep stacking! | | | We're excited to be celebrating our 10th Twitter Anniversary in August by giving away 10 Bitcoin2022 Conference Tickets. The giveaway will start Sunday, August 1st at 12:00PM EST and run until August 31st at 12:00PM EST. The winner will be contacted by email on Wednesday, September 1st. To enter, go to: http://www.rafflecopter.com/rafl/display/b28baf753/ | | Today's email was brought to you by Bam and Joe.
Keep on reading, keep on stacking. | | | | |
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