Juggling
Daily Ramble
Waking up to another day of cold water meant the house was cold too — radiant heaters powered by the central water heater heat our home. Not a big deal, but when I’m flying solo juggling a pre-school in the living room, an import/export business, a daily newsletter, and studying charts for trading, having a growing pile of dishes doesn’t help the cause.
Hot water, what a simple thing in this day and age. The romanticism of simplicity was ringing through my ears, literally, as I listened to Didi, a Dutch husband and father of three who sold all his belongings to live nomadically with his family in 2017, talk about their family’s lifestyle on a recent What Bitcoin Did podcast. For more than a few years I lived nomadically but did it solo — no family. Now, having planted roots in Portugal, and juxtaposed against my current one-man-band reality of raising a family, the idea of going back to a nomadic lifestyle with family in tow sounds pretty darn appealing.
I’m not saying that it’ll happen, but when I’m having a full day, and running out of limbs to keep the juggling act going, it’s easy to daydream about someone else’s reality. And Didi does an incredible job of painting up that alternative. It’s worth the listen if you’ve got some time. His enthusiasm for life is infectious.
Favorite Thing on the Interwebs Today
Bitcoin’s recent $10k pullback brought on headlines that just make me crack up.
Here’s a preview of how Bitcoin’s price will move and how the media will react. Courtesy of @craigwarmke on Twitter.
Bitcoin Price Prediction
Yesterday: $32.3k - $36.7k
Today: $36.6k - $42k
Tomorrow: $36.6k - $45k
Bitcoin bounced back quicker than I anticipated. Very bullish. I’d predicted that we wouldn’t breach $36.7k yesterday and instead went clear through to $37.5k. Today has already reached the peak of my predicted price action at $40k and by the looks of it, may prove me wrong again. Luckily, no one complains about being wrong when it’s to the upside.
That said, today, we are right at the point where we could see price retreat and pivot back down for longer consolidation. I don’t believe that’s likely for long. Instead, I see the previous all time high of $42k breached in the next 24 hours as we head for open water price discovery. It’s a good time to be a Bitcoin bull.
Bitcoin Ed Bite
What is Strike?
Strike is a new application launched in the US but available globally very soon. It uses the Bitcoin Lightning Network to legally send money from one country to another instantaneously and at almost no cost. When it launches it’ll be the biggest thing since sliced bread — at least for anyone trying to send money abroad.
Let me break it down with an example: I will be able to load up my Strike wallet with Euros and instantaneously, and costing just a few pennies, send Dollars to any of my family or friends in the United States. My Euros will be converted into Bitcoin that is transferred across the pond using the Lightning Network where they are converted back into Dollars and placed in the receiver’s wallet. No one sees Bitcoin and there are no fees. By removing the banking industry as rails using the Lightning Network instead, everyday users transferring money will get the benefits of Bitcoin without the worries of volatility.
The banking industry is collectively shuddering. There are no more costs to squeeze out of the model to be competitive. The game has been won. All that is needed is a debit card.
And this is just the beginning of what Bitcoin makes possible. Wow!
Thanks for reading,
Kent
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