#Bitcoin protocol has game theory built in, it's catching fire among US city mayors lately. City mayors have been proactively attracting Bitcoin & crypto community for seeking talent, jobs, investments and other economic reasons.
Effectively holding a futures based #Bitcoin ETF is losing money from your account faster than Fiat. Imagine you had 1 Bitcoin just 20 months later holding 0.8 Bitcoin.
Just buy physical #Bitcoin and hold your keys. Don't lose your money to Wall Street rent seekers.
When you hear negative things about #Bitcoin like
- Bitcoin will go to zero
- Bitcoin is energy intensive
- Bitcoin is centralized
- Bitcoin will be shutdown
- Bitcoin is used by criminals
etc. don't pay attention, they're unaware of facts...
They say: #Bitcoin could go to zero, its primarily mining centralized in China 🇨🇳 and the state actors could 51% attack this network and bring it down to its knees.
We say: China 🇨🇳 banned #Bitcoin mining and the industry just moved out of China and it's growing outside.
Turkey's 🇹🇷 national fiat currency Lira has seen turbulent times as (highly volatile) recently. More and more people are opting out of Turkish Lira and diversifying into other assets & currencies to preserve their purchasing power.
Time for a thread 🧵 👇
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The Turkish lira is the official currency of Northern Cyprus and Turkey, represented by the ISO code TRY and abbreviated as TL.
The Turkish new lira is the second issue that was introduced at the beginning of 2005.
TRY is in devaluation, regularly hitting all-time lows.
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To get a brief sense of its inflation, here are some sample yearly numbers. A monthly chart for USDTRY attached.
While it’s true the COVID-19 pandemic has taken a toll on this world. Some countries like Sweden 🇸🇪 Norway 🇳🇴 Finland 🇫🇮 have shown their best interests towards it’s citizens.
Some countries like Australia 🇦🇺 have shown their worst (true colors).
A meme thread 🧵 👇
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Australia 🇦🇺 started as the largest prison in the world. It’s tending back to its roots again post Covid.
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Covid-19 is just a reason for the state to gain absolute control over its citizens.
A small thread on China Evergrande, its metioric rise and an imminent financial collapse 🧵 👇
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Evergrande is China's second-largest property developer with $110 billion in sales in 2020 alone. Evergrande was founded in 1996 by Chairman Hui Ka Yan in Guangzhou China 🇨🇳
The company was listed in Hong Kong in 2009, helping it grow its asset size to $355 billion today.
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Evergrande has more than 1,300 developments across China 🇨🇳, many in smaller cities. Real Estate sales was growing initially, with sales growth slowing in recent years, it has branched into businesses such as electric cars, football, insurance and bottled water.