Bitcoin: winning the Monetary System Sweepstakes!
Texas, Arizona, and Wyoming are all promoting Bitcoin as legal tender in each State. Two of them have bills in legislature, to make Bitcoin legal tender. Texas doesn’t but if Don Huffines wins the Governors race, they will, click here to read more.
Now Russia is regulating Bitcoin not banning it. Vladimir Putin pushed the Russian central bank to do this. Now Russia and China are issuing energy deals together which will be settled in Euros, not USD. That is a shot across the bow against the USD’s future as global reserve currency. Remember, yesterday’s blog about the state of the economy and the USD monetary system! As the monetary system ends it’s cycle from 1913 to 2022, why could’nt Bitcoin replace it? Why does it have to take 25 years? We will see what Russia does, but keep in mind. They rank 3rd in the world in Bitcoin mining and Putin wants to leverage his cold climate to mine Bitcoin and encourage mining. Then connect the dots to the fact that Putin wants out of the SWIFT banking system and China does to. Well, welcome to Bitcoin. China may not do that, but Russia is moving much closer! If Russia, or when Russia makes such a move. It will lead to a domino effect of multiple dozens of countries. Africa with it’s rivers or potential solar energy, could eventually, monetize their own natural resources to mine Bitcoin. This cycle end of the fiat monetary system is happening much, much faster than most people could have imagined. A transition will become paramount and this transition will be to digital currency. CBDC may get floated out there, especially by the MSM. However, as soon as the world understands that their money can be shut off by the government, or central bank due to their citizens personal behavior. There will be a flight to safety. The frogs will be jumping out of the frog boil, so to speak! Below is a quote about Russia from an article with a link below. The article describes how Russia is using Bitcoin as leverage for it’s geopolitical meneuvering:
“Taking advantage of Russia's strengths to mine Bitcoin would be all the more welcome for Vladimir Putin's country as in the context of tensions around Ukraine, America and the European Union could impose even stronger sanctions on Russia. These sanctions could go as far as removing Russia from the SWIFT global interbank payment network.” - click here to read more.
Will the US attempt to kick Russia out of the SWIFT global interbank payment network? Will Don Huffines be elected Governor of Texas. Will Wyoming and Arizona successfully get their bills passed to make Bitcoin legal tender in those states? Yet to be determined. However, the fact that Bitcoin is the obvious choice to exit the banking system for Vladimir Putin, Don Huffines in Texas, Wendy Rogers in Arizona, Cynthia Lummis and Tara Nethercott in Wyoming, is a long road from where Bitcoin was during the 2017 bullrun. To believe, at this point, that Bitcoin is just an overhyped speculative bubble. It is ignoring all economic facts going on today. Pretending all will remain the same forever. It happens. Don’t let it happen to you. The train is leaving the station folks, click here read more.
Now, we learn Blackrock with $10 trillion in assets under management is allowing customers to buy Bitcoin, click here to view on twitter.
Now that the Bitfinex Hack from 2016 has hit 5 years, those coins from 2016 are moving. The last time some 5 year old coins were revived when Bitcoin dumped below $3,600, Bitcoin shot up 6X:
Then, one only has to consider the amount of wasted energy by flaring it, or wasting (stranding) it, click here to view on twitter.
Bitcoin mining consumes vast energy. Since the China mining ban, most of that mining capacity has gone to areas that have high levels of energy resources. Yet, much of this natural gas gets stranded or flared. Renewable energy also gets utilized to mine Bitcoin. Thereby, countries who employ tactics to mine their own natural resources are monetizing energy. El Salvador has the most ingenious way to go about it. Mining off of steam from volcanoes! We have discussed this before on our blog. So, if a country has water resources, they use turbines to create energy and mine Bitcoin. Natural gas resources, they use heat exchangers to create energy and mine Bitcoin. Volcano resources, they use steam through a turbine to create energy and mine Bitcoin. Solar resources, they use solar panels to create energy and mine Bitcoin. This is speeding up with Russia getting more involved. Let’s see where it takes us. A peer to peer digital ledger is very likely to be the winner in the future monetary system sweepstakes!
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