Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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spind, it doesn't have to. It just sits alongside fiat and be easily convertible. The same reason why if you are a Turk right now, you would buy gold. Bitcoins if venezuelans. Its value lies in the relative scarcity and demand. The so called 'hard money' can't provide that as it can be created with the flick of few keys on a keyboard. That is more left field if you ask me.....
And let's face facts...some left field open souce project that appeared out of nowwhere from the mysterious Satoshi is ging to be the hard money of the future ? Give it up ...it;s not
Simple fact is BTC s nowhere near the mainstream very far from it...it's just not for regular folk. Even hardcore Hodlers swear not to keep it on an exchange and cold wallets et al are not for the proles. I would argue not even exchanges like Coindesk. It's niche. As Wolf Richter said there is no helpdesk for BTC, as witnessed by the growing number of lost BTC. It failed as a peer to peer currency aka a utilty and the original participants didn't even pause for breath to suddenly cry Store of value" why ? So they could keep and increase their gains.....everything about it screams pyramid/ponzi scheme. Most BTC is under the control of less than a thousand individuals. That is no kind of adoption ! The pyramid pushers like Keiser are having their Marie Antoinette moment....can;t afford a BTC..."let them have Satoshi's"
This world debt counter is the best illustration that all the financial world is based on debt that is growing by the second and can not be reversed.
https://www.usdebtclock.org/world-debt-clock.html
without a doubt bitcoin has more and more acceptance hence more people putting money into it. I don't think it is a ponzi as it ultimately is a medium of exchange. Other coins (not all) have uses too like Ether, IOTA etc. Some probably will revolutionise our lives and make its holders rich if bitcoin hasn't done for you yet. Bitcoin has certainly revolutionised Venezuelans lives.
As to whether it will replace gold as the ultimate hedge, that remains to be seen. I don't think so.
Bitcoin is nothing but a ponzi scheme and yes i do know a lot about it before the usual no coiner insults start flying ! The answer is visible for all to see, Central Banks hoard Gold and have no interest in some mario coin, decentralised, limited number, blockchain based. Pop over to RT and the Keiser report who every single week shouts bitcoin is unconfiscatable ! There are numerous instances of it being confisated as part of pleas deals ! Why do TPTB confiscate it ? Not because they have any special interest in it per se, they do so because they can convert it to FIAT at this point in time. All bitcoin(and other crypto) value comes from the suckers who keep speculating in it. And I am the first to admit early entrants have done darned well and kudos to you all. Just don't tell me the Emperor looks fantastic in his new rags ! The old saying watch what they do and it's always been gold and alwayss will be ! Not some Mario game coin that escaped and paraded as hard money for a while.
For all your logic that's not the world we live in now. PM have performed awful this year and I can't see it getting any better. Between London and America they will destroy this safe haven with constant manipulation. I thought there was a pandemic going on. Invest in the invisible safe haven now Crypto. Buy on large dips. The west can't regulate it the same as gold and America being one of the biggest miners in the world why would they.
So inflation is not 'transitory' now because Powell is sick and tired of people teasing him about it. He will just call it something else. One the one hand, yield wants to go up because market thinks that means they will taper faster and reduce rates faster. On the other, negative real rates is making gold a very attractive inflation hedge especially since Bitcoin seems to be struggling. I do wonder what will be the next catalyst. No doubt CPI will be high but oil has come off the highs so there is a little more room.
What sort of words will Powell use now and what noise will he make? That is what market is hanging on unfortunately. GDX is tracking up again last few sessions so a good sign. I thought Omicron would send gold through the roof but it didn't happen. Short term, I think it will be choppy but it won't go anywhere. If inflation figures come in high, we could see all three climbing again. USD, gold and yield.