Shortage
Daily Ramble
There’s a little thing called “not enough time.” It happens when there are more things on our to-do list than there are hours in the day. Despite there being an infinite amount of time available in the universe, ours isn’t. Infinite, that is. And bloody hell, if that doesn’t lead to much frustration for us little busybodies trying to reverse the entropy of the rest of the universe. Entropy? Yeah, it’s a natural law of physics that defines the natural decline into disorder. Leave an ice cube long enough, and it’s water. Leave water long enough, and it’s vapor. The water has gone from a solid structured object to a diffuse gas floating in the atmosphere. Sort of like a house that no one works on—entropy in action.
Besides beavers, we seem to be one of the only mammals on planet Earth preoccupied with reversing entropy. From cleaning dirty dishes to rebuilding ancient structures to restoring lapsed relations, we can’t get enough of re-structuring our environment from its chronic desire to dissipate. Much of our existence seems to be around structuring both human and natural environments. Some believe this structuring effort is a way for us to harness energy to build ourselves to higher places as a species. I don’t know. Contemplating these ideas makes my pea brain ache.
But I know that this innate desire to create order is frustrating me. Our little family is planning to live abroad in the not-so-distant future. Between sleep, work, family, home, and pleasure time, there doesn’t seem to be enough hours in the day to keep all the plates merrily spinning in preparation for our departure. But really, that’s all a lead-up to a weasely apology: sorry for the short Ramble today, folks.
Favorite Things on the Interwebs Today
We’re moving beyond the meme to art now. Just wow.
Bitcoin Price Prediction
Weekend: $50k - $61k
Today: $56k - $63k
Tomorrow: $56k - $63k
Bitcoin’s weekend price action ping-ponged between $56.2k on the low and $59.6k on the high. Though the movement was a bit of a snooze-fest, the look of the charts is extremely bullish right now: funding rates are low, which means that there’s not much chance for a liquidation play by bears, and the price is creeping towards $65k, which typically means it’ll sustain a breakout rather than create a head-fake when it does get there. The bullish stream of fundamental news also keeps growing — last week, amongst other positive news, NYDIG announced a partnership with 300+ US banks that will allow their client’s access to bitcoin. It’s not surprising that Bitcoin looks like it wants to push for some high numbers today.
Bitcoin Q & A
Q: What is a sat, and how does that relate to Bitcoin?
A: A sat, or satoshi, is .00000001 of a Bitcoin.
Bitcoin has 8 zeros after the decimal point, or 1 BTC = 1.00000000 BTC. A sat, or satoshi, is the smallest unit of bitcoin. More zeros may be added as the price of a single bitcoin rises, but more likely, we see prices change from dollars per bitcoin to dollars per satoshi.
With each bitcoin worth $60k, a single satoshi is $.006, slightly less than a penny. At $100k per bitcoin, a satoshi will be worth a penny. Because newcomers often assume they need to purchase a whole bitcoin without realizing they can purchase any fraction of a bitcoin, I suspect we will see people begin to talk more about bitcoin’s price in satoshis in the next few years.
Thanks for reading,
Kent
Do you have questions or a “Favorite Thing on the Interwebs”? Comment below or reply to the newsletter to reach me.
If you’re not on the email list, subscribe now — just this newsletter, no advertising.
Me? I offer personal and corporate Bitcoin Implementation Strategies: setup, investing strategy, security, tax management, and inheritance. Contact me for a free initial consultation.