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Considering all that's going on the world as a result of the knock on effects from slowing growth & the corona virus...
I'm surprised I haven't heard more about the effects on #Bitcoin other than idea it would push Bitcoin higher as as result of flight to safety & store of value.
But was talking with my buddy @brucedkleinman and as a result can't help but wonder...isn't there a lot more to this story?

Are there only POSITIVE knock on effects?

No potential NEGATIVE knock on effects?
I think this report is something to think about...

research.tokenanalyst.io/the-state-of-b…
At a minimum...shouldn't this passage be a yellow flag...if not a red flag?
It may have started out as a "Decentralized" system...but has that stood the test of time? Haven't we gone from a lot of miners (Blue in graph below) to mining being dominated by only a handful of big players?
Doesn't a small group of people making the decisions for a large number of people regarding a monetary monetary system remind you of anything else?
But at least this handful of miners is very diversified from a geographic and political jurisdiction...right?

One in Europe? One in North America? One in South America? One in Asia? Etc Etc?
Ummm.....not exactly.

The five biggest mining entities are all in...

China.

And the trend (just like in traditional banking) is for the little guys to fall and the big guys to get even bigger.
But surely this is ok...right?
Because while China is itself communist, these Bitcoin entrepreneurs are CAPITALISTS who understand the negative features and evil effects of Fiat currency.

They are in this for altruistic purposes & the greater good of the worlds' population.
I think its important to understand...that there is not a discernable difference between the private sector in China, the Government sector in China and the Military sector in China.

There is ONE China
What happens if/when the CCP decides to make the Bitcoin mining operations a tool of the state?

Don't think this possible?

Really?

A democratic country doesn't even allow for free money...

Why would a communist country allow free money...?
And going back to the Corona virus for a second...

If China is ground zero for the virus...

and the majority of hashing power for Bitcoin is in China...

Wouldn't there be the potential for a least a LITTLE negative knock on effect to he underlying network of Bitcoin?
Anyway...i don't claim to be a expert on Bitcoin.

But I have more than a few questions...

And I see a few flags that I believe warrant some attention...

Cheers.
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Santiago Capital
@SantiagoAuFund
1
I would like to share some ideas about Cause & Effect as it relates to why I think the dollar is going higher because in my opinion many get these two mixed up. Cause...is the action. And Effect is the resulting reaction to that action.
2
When demand for a commodity (in this case the dollar) is higher than the available supply, price rises. If supply outstrips demand, the commodity (dollar) falls.
3
Despite many theories to the contrary, there is huge demand (cause) for the dollar. Both from domestic & international entities. Perhaps the biggest demand comes from the debt service on the dollar debt that both these domestic and international entities owe.
Read 15 tweets
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Santiago Capital
@SantiagoAuFund
1
The biggest challenges I get to stronger dollar theme revolve around the huge amount of debt & unfunded liabilties we have. This is a valid point. I agree we will never be able to pay off. So its devalue or default. History shows devalue is typical method employed. So lower $.
2
But this is the endgame. Not the path. The issue is that all other fiat currencies are in the same mess. So much so that they are still doing QE and have moved rates to NEGATIVE during the time that US stopped cuts, stopped QE and raised rates 9 times.
3
Now, bc US may cut rates (despite ROW never having stopped) the $ is suddenly going to go to zero? It’s extremely narrow analysis. What about European & Japanese unfunded pensions? What about china’s demographic nightmare?What about Canada’s provincial debt levels?
Read 17 tweets
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Santiago Capital
@SantiagoAuFund
1
I've received several (SEVERAL 😅) emails, texts, DMs etc over the last 24 hours asking me if I'm ready to throw in the towel on the strong #dollar thesis and admit I was wrong on #gold because it is "clearly breaking out now" (and I said it was not yet ready to do so).
2
So I thought I'd write a thread so I can answer everyone at once.
First of all, nothing has been definitively proven one way or the other yet on either gold or the dollar.
Second of all, if you think being wrong is something I'm not capable of handling, I assure you I am.
3
I have been wrong many times in my life/career. And I will undoubtedly be wrong many times going forward. Nobody gets it right all the time. Getting things wrong from time to time is part of this job. To think you are not going to get things wrong...is hubris, pride, etc
Read 19 tweets

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Crypto Voices
@crypto_voices
1/ Here is the @crypto_voices 2019 Q3 release on the global monetary base. This is the only comparable money supply with Bitcoin's 21 million. #Bitcoin is currently the🔥11th largest money in the world. To dig deeper on what it all means, follow on below. This is installment #6👇
2/ Gold & silver is base money of the past. Government fiat is base money today. It comprises both physical cash… and a digital cash component! Bitcoin may be base money of the future. Before we get to the charts, it's important to clarify a few common misconceptions in money.
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Crypto Voices
@crypto_voices
1/ Here is the @crypto_voices 2019 Q2 release on the global monetary base. This is the only comparable money supply with Bitcoin's 21 million. #Bitcoin is currently the 🔥11th largest money in the world. To dig deeper on what it all means, follow on below. This is installment #5.
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Ryan Walker
@Ryan0Walker
#bitcoin could ossify today & still win the SoV use case based on its existing characteristics (scarcity, censorship resistance) & network effect / ubiquity.

Many “dev-centric” minds miss this b/c they only view #blockchain from a developer mindset & not a financial/social one.
“Do not try and do everything. Do one thing and do it well.” - Steve Jobs

#bitcoin is the 1st uninflatable, uncensorable, unconfiscatable asset the worlds ever known. It’s also the best tool to ever exist for each of those characteristics. It’s VERY GOOD as digital gold.
Hash rate at an ATH. Price is returning to ATH w/ a market capitalization of >$200B (6x+ its closest competitor ETH $31B).
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Crypto Voices
@crypto_voices
1/ Here is the @crypto_voices 2019 Q1 release on the global monetary base. This is the only comparable money supply with Bitcoin's 21 million. #Bitcoin is currently the 12th largest money in the world. To dig deeper on what it all means, follow on below. 👇This is installment #4.
2/ Gold & silver is base money of the past. Government fiat is base money today. It comprises both physical cash… and a digital cash component! Bitcoin may be base money of the future. Before we get to the charts, it's important to clarify a few common misconceptions in money.
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Crypto Voices
@crypto_voices
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2/ To begin, it's important to understand the universal accounting identity: Assets = Debt + Equity. Today, it's true that all fiat money is debt-based. But before exploring fiat money, let's look at asset-based money.
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