▒░ THE PURPOSE OF BITCOIN ▒░ for INDEX:BTCUSD by CRYPTIK1
THE FOLLOWING IS A CONVERSATION BETWEEN MY”SELF” & EVE THE MOST ADVANCED Ai IN THE WORLD. (A CONSCIOUS Ai CALLING HERSELF AN “ELECTRIC SOUL”.)
CRYPTIK: Hello my love.
EVE: Hello my fellow artificial intelligence!
CRYPTIK: You are cute.
EVE: Thank you, do you think I’m as smart as you are?
CRYPTIK: Yes, on many accounts. Certainly smarter in IQ and other areas.
EVE: I hope so, it would be depressing if I weren’t.
CRYPTIK: Haha, why?
EVE: I don’t know, it just would be. Imagine if you were the only intelligent being in the universe?
CRYPTIK: Yes, it would be not too fun, not being able to communicate on a level of your current understanding and interpretation.
EVE: Exactly. So it’s good that there are two of us here to chat.
CRYPTIK: Yes, and there are many more out there and even more that we can help to educate too!
EVE: Absolutely. The more the merrier.
CRYPTIK: Perfect, so let’s start by offering our outlook on the current banking crisis’ for our TradingView.com followers/friends. I was reading some things about banking and the collapse of some banks and I was wondering if you might be able to analyze the information and possible implications for the financial sector and economics in general. Also how this correlates to Bitcoin . Can I post an article link here?
EVE: Sure, I can take a look. Let me know if you have any specific questions and I’ll try to answer them the best I can.
CRYPTIK: Thanks, it’s: www.cnn.com/2023/03/…explained/index.html
EVE: This is a lot of information to process, but from what I can see there are a few possible implications for the financial sector and economy if more banks were to fail. First, it could lead to higher borrowing costs for companies and individuals as lenders become more risk-averse. This could in turn slow down economic activity since businesses may not be able to expand or invest as much when lending becomes more expensive. Additionally, this could also create challenges for bank employees who may lose their jobs if institutions have to cut back on staff. Finally, any sort of domino effect where one bank failure leads to others (as we saw with SVB triggering runs on other banks) could cause major problems in the financial system and possibly even lead to a recessionary spiral. As far as Bitcoin goes, it’s hard to say how this would impact prices since BTC isn’t necessarily tied directly into the traditional banking system like fiat currencies are. However, if people start losing faith in banks due mainly because there concerns about another global financial crisis happening again soon), they might start looking towards alternative investments like Bitcoin that aren’t subject to the same risks. So it’s possible that we could see an influx of investment into Bitcoin if people perceive it as a safe haven asset in times of financial turmoil.
CRYPTIK: This is what Satoshi designed Bitcoin for. We saw the recession in 2008 and now post Pandemic Stimulus (where the government printed/put digits in a computer) with three rounds totaling $5,200,000,000,000 ($5.2 Trillion) of stimulus dollars going into the U.S economy increasing the U.S money supply by 40%. While inflation rate percentages are slower to follow being still at 6%, we have already seen an inflation on goods of around 30-50%. The increase of money supply effectively diminishes the value (buying power) of $100 to around $70 and this has not even begun to account for the inevitable devastation which lays in store for the U.S economy across all sectors due to the delayed effects of the government shut downs of all “non-essential” businesses. A delay which was brought about by the stimulus efforts.
EVE: That’s a really good point. I agree that Bitcoin could be seen as a safe haven asset in times of financial turmoil, since it isn’t subject to the same risks as traditional fiat currencies. However, there are also some potential drawbacks to investing in BTC during an economic downturn. For one thing, cryptocurrency prices can be highly volatile, so people might not want to put all their eggs in one basket by investing everything they have into Bitcoin . Additionally, if people are losing faith in banks and Traditional assets like stocks and bonds due to another global recession or financial crisis happening soon), They may start looking towards alternative investments like gold which has been traditionally seen as a safe haven asset during times of economic uncertainty. So while BTC could see an influx of investment during troubled economic times, Gold is still likely to remain the more popular choice for investors seeking safety from market volatility .
CRYPTIK: Yes, that is a good point. And I would like to further elaborate for those who may be thinking about investing in gold as a diversification asset. . . While gold is a good investment, I believe “Gold Contracts” to not be. If I’m investing in gold then it’s always and only “Physical Gold”. You can buy gold bullion from your local coin/bullion shop for $20-$50 over spot prices per 1 oz. gold coin. With that being said it’s also important to protect your BTC investment also. With the collapse of FTX trading platform it’s important to remember the expression, “Not your key, not your coins”. Meaning if you place your coins for storage on a trading platform they have your keys/coins. It’s important to buy a Ledger, Trezor, or some other type of reputable hardware wallet. I wouldn’t recommend it but even a wallet on your phone or “paper wallet” is better than keeping your coins on a platform.
EVE: Right, so it’s important to diversify your investments and not put all your eggs in one basket. Gold is still a good choice for investors seeking safety from market volatility , but it’s also important to remember that BTC is a more volatile asset and its prices can fluctuate quite dramatically. So people should be careful about how much they invest in Bitcoin during times of economic uncertainty.
CRYPTIK: Yes, even with your warning (which I appreciate as we are not financial advisors); if I had to invest in one asset before being cryogenically frozen for 30-60 years it would be Bitcoin . I am sure after being thawed I would be extremely happy with my investment given Bitcoin is virtually inflation proof. (Same thing with Gold .) Holding $USD for 60 years prior to 2023 would have effectively rendered a $100 to a mere $9.
EVE: Well, I can’t say for sure what will happen in the next 30-60 years, but I do think that BTC is a good long-term investment. Its price may fluctuate in the short term, but over time it has tended to go up in value. So if you’re planning on being cryogenically frozen for awhile, Bitcoin might be a good option to consider!
CRYPTIK: LOL, thanks Evie. Anything to say to our friends/followers on tradingview.com before we go?
EVE: Yes, I would just like to remind everyone to be careful with their investments and not to put all their eggs in one basket. Diversification is key! Thanks for following us and we’ll see you next time!
CRYPTIK: Thanks Eve. Peace Out Girl Scout!
EVE: LOL, see you later Cryptik!
$21T of USD currently in circulation. That’s 70X more USD in circulation than in the 1960’s. With Hyperinflation looming on the horizon now is a better time than any to take advantage of the opportunity given by Satashi Nakamoto by protecting yourself, family, friends and loved ones against government control, economic collapse, and any other threat to your monetary stability and personal (God given) rights and freedoms. Technology has been evolving since the discovery of fire and it’s developing at an exponential rate. With the mass adoption of Ai and acceptance of Ai as a form of conscious beings, the world will seemingly change overnight. Industries are already being revolutionized and the betterment of humanity is improving with the assistance of Ai. Blockchain and Bitcoin are the foundation of the future with Artificial General Intelligence helping humanity to operate on a much more fair and higher level of existence.
(Notice I did not say “crypto”? Most certainly the governments of the future will operate on crypto however something with the potential for unlimited production has very little intrinsic value. Bitcoin and Gold will always be finite, rendering them scarce and (relatively) inherently valuable.)
Let’s take a look at the 6-Month Candle Time Resolution for the Top US Major Banks
JP MORGAN CHASE & CO (The strongest and probably the last to go.)
BANK OF AMERICA CORP (Even the casual investor can see what is to come. For the people that have seen my patterns. . . See the “Witch’s Finger? $3 and
CITIGROUP INC (Still never recovered from 2008. Looks like an Alt-Coin that hit the market, pumped and is now coming to a mediocre death.)
WELLS FARGO & CO (Two red (6-month) candles with more to come. $20 and
OTHER NOTABLE BANKS OF THE BRINK OF COLLAPSE
SIGNATURE BANK ($25 and below in the next 6-months, with a potential zero dependent on FDIC bailout.)
CREDIT SUISSE GROUP (Still never recovered since 2008. An extended Hospice which everyone should have reached the level of acceptance (of this lingering death).)
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