Boarding Time
Daily Ramble
T-minus 15 minutes to boarding and I really think I’m going to ramble today? Not happening. But, to follow up on my El Salvadorian-Bitcoin-liberation post from yesterday, it’s worth noting that the IMF is questioning the legality of the El Salvadorian President’s legalization of Bitcoin for tender.
Surprise, surprise…the powers that be don’t like it when their control over the money printer is threatened. No bones about it, the money printer is the most powerful force in the world and Bitcoin’s decentralization threatens that. Get ready for all the stops to be pulled out on Bitcoin. The final boss is incoming.
I’ll be writing you tomorrow from the other West Coast. Ciao for now, Estados Unidos!
Most Impactful Thing on the Interwebs
Bitcoin Price Prediction
Yesterday: $32k - $35.5k
Today: $33k - $38.4k
Tomorrow: $33k - $40k
Right after sending out this newsletter, the bulls pushed the price, setting off a small short squeeze. That juice the price up to the $38k region which has since sold off. I suspect this is the range high move and that we’ll need to come back to the $34k region at least one more time before we can see Bitcoin try to escape this range-bound area. Again, the longer we are here in the $30k - $40k region, the more likely this is a bullish accumulation.
Bitcoin Q & A
Q: How high are fees on Bitcoin’s Lightning Network?
A: A fraction of a penny.
The Lightning Network has been designed for low fees and smaller transaction sizes. The feasibility of the Lightning Network for day-to-day transactions is the primary technological reason El Salvador made Bitcoin legal tender.
Thanks for reading,
Kent
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