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Santiago Gives Sister Bitcoin Gift for 18th Birthday: The Orange Pill.

• Santiago Varela gave his sister an unusual gift for her 18th birthday: the orange pill.
• The orange pill refers to the process of introducing someone to Bitcoin and its advantages.
• The process of orange-pilling his sister began with a letter and a copy of Saifedean Ammous’ “The Bitcoin Standard,” with the goal of helping her set a path to financial freedom, empowering her as a woman, and potentially giving her some ideas for what she wants to do.

When his sister turned 18 years old, Santiago Varela decided to give her a very special gift: the orange pill. This refers to the process of introducing someone to Bitcoin and its advantages. Before handing her the gift, Santiago wrote a letter to explain the reasons why he was giving her this specific gift. He wanted to set her on the path to financial freedom, empower her as a woman in a fiat world where dishonest relationships have been normalized, and give her some ideas for what she wants to do, since she was a high school senior and still didn’t know what to study in college.

To start the orange-pilling process, Santiago gave his sister a copy of Saifedean Ammous’ “The Bitcoin Standard,” plus a hardware wallet. He asked her to read the prologue of the book over and over again before beginning the journey, as it contained a quote which Santiago considered the perfect starting point.

After reading the book, Santiago and his sister were able to have meaningful conversations about Bitcoin and its potential to revolutionize the world. Santiago was amazed to see how quickly his sister was able to understand the basics of Bitcoin and its potential for financial freedom. They discussed the importance of taking control of one’s finances, the potential of Bitcoin as a store of value, and the power of decentralization.

From that day on, Santiago and his sister have been talking regularly about Bitcoin and its implications. His sister is now an active member of the Bitcoin community and has started to invest in the asset. Santiago is confident that his sister is now on the path to financial freedom and that his gift has been a success.

Bitcoin Price Stuck in Limbo as Volume and Volatility Hit Lows

• The recent wave of capitulation has led to a period of low bitcoin volume and volatility.
• Market depth and liquidity has declined due to the collapse of FTX and Alameda.
• Despite low activity, bitcoin price is still in a state of waiting for a clear change in trends.

The recent wave of capitulation in the Bitcoin market has led to a period of low volume and volatility. After the peak months of September and November 2021, volume in both the spot and perpetual futures markets has been steadily declining. This could be indicative of another leg lower to come in the market, but more likely it is reflecting the complacent and decimated market that few participants want to touch. The bitcoin price has yet to see the type of explosion in market volatility that has defined major directional moves in the past, leading to a state of waiting for a clear change in trends.

Unfortunately, the market depth and liquidity has also taken a major hit due to the collapse of FTX and Alameda. The loss of these two platforms has resulted in a large liquidity gap that has yet to be filled. This has made it more difficult for participants to find the best prices and has further contributed to the low volume and volatility environment.

It is uncertain what the future holds for the Bitcoin market, but it is clear that the current low activity is not sustainable. It is likely that once a clear change in trend is seen, the market will experience an increase in volume and volatility. Until then, participants will have to wait and see what the future holds.

Fight Against Bitcoin and Cryptocurrency: Regulations to Ramp Up in 2023

Bulletpoints:
• The Digital Asset Anti-Money Laundering Act of 2022 has been proposed by the U.S. Senate and contains KYC laws, money-transmitter licensing requirements and more.
• The European Central Bank recently declared Bitcoin to be on an “artificially induced last gasp before the road to irrelevance” and is considering a Bitcoin and crypto ban.
• Level39’s thread depicts testimony from the recent Senate Banking Committee hearing, showing the beginning of the fight against Bitcoin and cryptocurrency adoption.

The proposed Digital Asset Anti-Money Laundering Act of 2022 is an ominous sign of what is to come for Bitcoin and cryptocurrency adoption. The U.S. Senate introduced the bill, which contains many threatening aspects, such as KYC laws for self-custody wallets and money-transmitter licensing requirements. This comes on the heels of the European Central Bank’s (ECB) recent revelation that Bitcoin is on an “artificially induced last gasp before the road to irrelevance” and is considering a Bitcoin and crypto ban in order to mitigate environmental damage.

The implications of this are far-reaching, as regulators around the world are beginning to take notice of the rise of Bitcoin. The ECB’s declaration and the proposed legislation in the United States are evidence of the fight that is being waged against the adoption of cryptocurrency. It is clear that regulators are becoming increasingly aware of its potential and are looking for ways to limit its use.

Level39’s thread highlighting the testimony from the recent U.S. Senate Banking Committee hearing is a testament to this. The testimony given by the members of the committee highlighted their concerns regarding the potential use of Bitcoin and cryptocurrency for money laundering, terrorism financing, and other nefarious activities.

The fight against Bitcoin and cryptocurrency has only just begun, and it is likely to get worse in 2023. Governments are beginning to understand the potential of Bitcoin and its ability to tip the scales of power and are attempting to find ways to limit its use. While a ban and much of the regulations would be comically impossible to actually enforce, they would serve as a significant speed bump to widespread adoption.

It is important to stay vigilant and keep an ear to the ground (and Bitcoin Twitter) to stay abreast of situations that could be influenced by a sea of calls to your governmentally-elected representatives. This is the only way to ensure that Bitcoin and cryptocurrency can continue to be adopted by more and more people. If we are able to keep up the fight and ensure that the right regulations are passed, then we can ensure that Bitcoin and cryptocurrency can reach its full potential.

Valkyrie Investment Proposes Taking Over Troubled GBTC with Reg M Exemption

• Valkyrie Investments has proposed taking over the reins of troubled bitcoin trust GBTC.
• Current GBTC shareholders would vote on the proposal via proxy.
• If chosen, Valkyrie would become the sponsor and would immediately file for Reg M exemption.

Valkyrie Investments has proposed a new plan to take over the reins of the troubled bitcoin trust GBTC. The proposal would be for current GBTC shareholders to vote on via proxy. If chosen by the shareholders, Valkyrie would become the sponsor and would immediately file for Reg M exemption.

Grayscale has been a leader in the development and growth of the bitcoin ecosystem since the launch of GBTC, and Valkyrie has expressed its respect for the team and the work they have done. However, recent events involving Grayscale and its affiliated companies have led Valkyrie to believe that a change is necessary. Valkyrie’s co-founder and CIO, Steven McClurg, has stated that his company is the best choice to manage GBTC and ensure that its investors are treated fairly.

McClurg has revealed that there are certain issues with the current GBTC trust agreement which do not allow for any amendments to be made with a majority vote of the shares. However, Valkyrie has a plan in place to address this. Though McClurg declined to comment on specifics, he did hint that this would not be the first time the company has achieved such a goal.

If Valkyrie were to become GBTC’s sponsor and manager, McClurg has made it clear that the first action taken would be to file for Reg M exemption. This would allow for the trust to be more accessible to retail investors, as well as providing a wider range of investment opportunities for those already invested.

At the end of the day, it is up to the current GBTC shareholders to decide if Valkyrie will take the reins. If chosen, Valkyrie will be poised and ready to take over and ensure that GBTC investors are treated fairly.

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