New SGT Report: The Bitcoin Black Hole
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Bitcoin may well prove to be the only black hole perfectly suited to mop up the tens of trillions of fiat currency sloshing around the world. And not just fiat Dollars. Yen, Rupees, Lira, Yuan and every other rapidly debasing currency around the world is ready to flee into Bitcoin. Peter Schiff has been wrong about Bitcoin for 14 years, but he continues to be unrelenting in his hatred for the asset. I discuss the supply demand metrics and why I think Schiff will continue to be wrong with the President of My Digital Money Guy Goslak. https://www.mydigitalmoney.com/
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Whistler Blowers, Insiders
The assumption is when all the fiat is absorbed, the Bitcoin sponge will still exist.
When activity in an eft dries up, it can be delisted. Bitcoinis like a derivative that is traded. It will never replace the original world accounts
It’s an extension of Beanie Babies or baseball cards.
Do we know how many Bitcoins have been hacked and how many wallets are lost? Halving makes it easier to move more fiat into it faster.
Silk road, when the government got control of a lot of the coins it became traceable, in my opinion. The IRS wants to get the fiat value of the profits. People will find out what a black hole it is to own.
It’ll be like a time share you can’t get rid of and no one will want to inherit.
That’s my opinion.