Blockchains are digital governments

1} Blockchains are digital governments

Okay so here is what Balaji has to say about blockchains

“They offer alternative systems for property rights, identity verification, and contract enforcement across borders.

And they allow communities to collectively opt out from the control of legacy states.

As such they are inherently political.

Holding Bitcoin is like traveling to a cloud country with a sane monetary policy, opening an account there, and opting out of the mis-governance of your home state’s central bank.

We never voted for these bankers, but now we can finally vote against them.”

2} Bitcoin will save masses from AI led inequality

Now everyone talk about how AI is going to replace jobs, which means huge productivity boost to the businesses and economies

Think about the current workers though, although everyone will get wealthier in relative sense but the amount of income inequality is going to rise due to massive wealth accrual in the hands of few.

Bitcoin will save the current humans from the massive wealth inequality that will come from AI

Some will 10x, others will lose money through inflation

Try to optimize for the former. If you can’t optimize to use AI in your work or have an idea of sorts- save your current wealth in Bitcoin

That way it’s not transferred to the AI wealth generators

The global cryptocurrency market cap today: $1.13 Trillion

Daily change: 0.93% | Yearly change: 15.73% 

Bitcoin (BTC) is the largest cryptocurrency with a market cap of $530 Billion.

Weekly change: 2.23% | YTD change: 63.53%

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: 48.84% | Last year (Oct 2022): 39.59%

The market sentiment has gone back to fear levels now expecting “Sell Off” this month

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

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

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

Supply change since merge POS -283,827 ETH

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

The Most Pressing Issue on Ethereum is Validator Size Growth If appetite for staking on Ethereum does not slow meaningfully over the next several months, the size of Ethereum’s validator set could become problematic for the blockchain, says Christine Kim, Vice President of Research at Galaxy Digital.

Google Cloud is now a validator on the Polygon network According to Polygon, “the same infrastructure used to power YouTube and Gmail” will help secure its network.

And now the funny/cool part,

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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