Rightly or wrongly, I have personally come to the conclusion that the gameplan of the US Government is to transition, over-time, from the current debt based, fiat system, started in 1913, and then taken off the gold standard in 1971, to a new digital / crypto based system. My estimate is that with Blackrock filing for a Bitcoin Spot ETF, the race is on. My guess is three to eight years for the complete transition in the USA. Other countries are ahead of the USA in this transition. Switzerland, Abu Dhabi, Dubai, Hong Kong and Singapore are among the concentrated centers for crypto and blockchain.
The top five countries with the most substantial rates of crypto adoption are #1 – Vietnam, #2 – Philippines, #3 – Ukraine, #4 India and #5 – United States. See: Crypto around the world.
As indicated above, how long to transition to the new crypto system is yet to be determined. Do not expect the US Government to make any announcements as to what is happening. Representing the banking & financial industry, they want to drag us to the new system as slowly as possible through the transition. The US Government is trying to slow the process through the efforts of Gary Gensler at the Securities & Exchange Commission. The US Banking system is not ready to transition at this time. Transfer fee income to the Traditional Finance (TradFi) system is large and will be flattened by the of integration of blockchain and crypto. Banks need time. Many banks will disappear as the system becomes more efficient and fewer banks are required.
On the other side of our Blockchain and Crypto coin, traditional asset managers, like Blackrock, Fidelity, Invesco – the list could continue, are ready to make the transition now. For you and me, the faster we transition to the new blockchain & crypto system, the better off we will be financially. Inflation and Debt will remain in the old Fait system. The US Dollar will likely rally as money shifts to the US dollar (cash) for safety in the transition, then decline in value as other countries transition to a blockchain based system. The race has started. Bitcoin and other select crypto currencies will rally as the new system evolves. Don’t be caught flat footed. The race as begun.
For the purpose of this writing, we suggest staying focused on the only crypto that is legally registered in the USA at this time – that is Bitcoin.
ACCESS TO NEWS FLOW AND KNOWLEDGE:
Knowledge is power, experience is painful, but knowledge and experience leads to wisdom.
Crypto markets move very fast. Too fast to rely on mass media to inform and educate. Time is limited and valuable. I’d like to share a number of resource – a go to list if you will – for you to reference for current views, anticipated trends and comments on blockchain and Crypto.
Expect this stock to jump as much as 50% if Fidelity and BlackRock bitcoin ETFs get approved
Stock in Grayscale Bitcoin Trust, (GBTC*), It’s a $19 billion trust that owns bitcoin and has been around for a decade. The shares trade over the counter. If the court or the SEC gives the green light to bitcoin ETFs, I’d expect the GBTC stock to jump by 40%, or 50%, pretty fast.
July 1, 2023 – MarketWatch article linked here.
Digital Information Sources:
- CoinTelegraph is an excellent digital magazine for up-to-date news and views. Linked below is a weekly technical comment. No too detailed but a weekly general over-view of top crypto coins.
Example: Price analysis 7/1: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, LTC, MATIC, DOT
CoinTelegraph July 2, 2023.
- TradingView Crypto News Flow: Very good news flow on crypto and stocks. I use the TradingView phone app to get a news flow on what stocks or crypto that I have an interest in. I do subscribe to TradingView at about $16.00 a month for their service. TradingView is a stock, commodity and crypto charting community.
- CoinDesk – digital news source for Crypto. Sophisticated news source that goes deeper into industry news and developments.
- Coincodex – https://coincodex.com/news/ – Excellent site for traders of crypto. Provides multiple ways to screen crypto as well as the stats for each crypto coin. Sample stat sheet for Bitcoin linked here. They provide how crypto coins rate in performance Vs all other coins.
Top Video Channels for Breaking Crypto News:
- The Paul Barron Network: a Breaking new and education channel. Excellent job of explain events as they unfold.
- Coin Bureau with Guy: Excellent channel for news, education and multi-view opinions.
- Real Vision Finance with Raoul Pal and Team. Real Vision has multiple subchannels with industry hosts and guests. Pal himself was a partner at Goldman Sachs, retiring from mainstream finance to set up his own shop at age 38. Pal as well as guests do project their views as to what is happening and how one might position for future events. Teaching and education focused with opinions of actionable trades.
- Blockwork Macro – Absolutely one of my favorites. Industry insider guests and hosts. If you are enthusiastic and want a no BS technical opinions this is for you!
Linked here is a video interview of Larry Lepard hosted by Investing News recorded June 22, 2023.
Title: Total Fiat Failure by 2030? His theme: We will lose control of fiat currency due to inflation and excess debt. Owning Silver, Gold, Oil and/or Bitcoin will get you through it.
There are many more excellent video channels available with a broader focus than blockchain and crypto. Some are more entertaining while others are intense and no B.S. The inventory of opinion and educational channels on my alert list is beyond 100.
Written July 3, 2023, by Tom Linzmeier, for Tom’s LOTM Blog at https://lotm.substack.com/.
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