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Digital Beans-Bitcoin will outlast every company, every government

Digital Beans- Bitcoin will outlast every company, every government

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Hey there everyone! 👋 This is Shivam. I bring to you the 33rd weekly edition of Digital Beans.

This is an effort through which I try to share my thoughts on the Digital Assets Industry and Business Models in the space. Your 0 to 1 guide for Digital Assets Industry

Read time - 4 mins

In this edition, the article I explore is titled "Bitcoin will outlast every company, every government" Hope you enjoy it.

Spill the beans (Explain to me like a 5 year old) 

Bitcoin will outlast every company, every government

1} Hear me out once, If I offered you "A Billion Dollars" of ....

Soybeans or

Billion dollars of "Oil", or

Billion dollars of "Gold" or

Billion dollars of "Silver" in that warehouse

And said, do you want to hold it for 100 years?

If you thought about it, you'd realize it's the dumbest thing you could possibly imagine. So along comes Bitcoin,

It's the first commodity you can't make more of, and now it's not a commodity anymore. It's a scarcity.

But scarcity is a paradigm shift because scarcity has never been created in the history of the human race. And what that means is not only can Bitcoin be stored for another 100 years in your pocket but given it's scarcity that is built into the system. Bitcoin will continue to appreciate in Price due to "Monetary Premium" as it's adoption grows

2} Scalable, and Salable across Time and Space

We are fortunate to live in a country like India. Lucky to not go though what people in other countries are going through right now

With all that has happened to the economies around the world in the past 3 years post COVID is devastating on people

Argentina

Venezuela

Turkey

Sri Lanka

High inflation causes unrest. People are losing faith in the governments all over the world while the Indian economy stands resilient. Infact, growing at the highest rate in the world today

When you talk to folks in these countries you see how much they need an economic system that let's them out of the matrix,

INR is a relatively stable currency backed by the might and wittiness of RBI, which makes sure that USD manipulation has least affect on our economy

However, as people in other countries look to move to a standard that allows them to store their wealth, the adoption of Bitcoin becomes inevitable

Next few years would show why we need Bitcoin more than ever because of its soundness as HARD MONEY and "Store of Value"

Be early. Slowly but Surely

State of Crypto affairs - A quick look at the market 

The global cryptocurrency market cap today: $1.21 Trillion

Weekly change: -1.82% | Yearly change: 5.9%

Bitcoin (BTC) is the largest cryptocurrency with a market cap of $566 Billion.

Bitcoin price today: $29,100

Weekly change: -0.80% | YTD change: 74.94%

Another important metric is Bitcoin dominance which can be used as a rough indicator of the relative strength of Bitcoin versus other cryptocurrencies. A high Bitcoin dominance means that Bitcoin has a large market share and is potentially more influential in the overall cryptocurrency market and vice-versa.

Bitcoin dominance: Current Year: 48.61% | Last year (Aug 2022): 39.79%

Greed and fear index 

The market sentiment has gone back to fear levels now post FED interest rate hikes

Note: The data used is based on metrics like Volatility, Surveys, Bitcoin Dominance, Social and Google Trends. Source: Coinstats

ETH as an ultrasound money narrative! 

Let's have a look at Ethereum supply changes post its merge to a PoS blockchain from PoW.

The significance of the charts - understand how the supply of Ethereum is decreasing post the merge, which means “deflationary economics” for the Blockchain

Supply change since merge POS -302,430 ETH

The graph highlights POS vs POW issuance since the merge. Impressive numbers, look super bullish for ETH long term given the supply of ETH is not growing as before

What's brewing today? Bringing fresh beans to you

Michael Saylor Says Bitcoin ETFs Will Be the ‘Super Tanker’ for His MicroStrategy ‘Sports CarThe software company now owns around $4.5 billion worth of bitcoin and is planning to buy more in the third quarter of this year.

BTC hodlers outperformed crypto funds by 69% in H1: 21e6 Capital According to 21e6 Capital AG, crypto funds generally outperformed the price gains of BTC in previous bull runs, but they ultimately suffered this year from having too much cash on hand and playing it safe.

Whats meme-ing? Better make sure this is fun

And now the funny part,

What did you think of today's edition? 

Reach out to me on Twitter or LinkedIn for any feedback :)

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research