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BTC 5w

Is it time to panic?

Was Bitcoin an awesome idea from the start? Yes. Does Bitcoin work? Yes. Is Bitcoin secure? Yes. Is Bitcoin scarce? Yes. Does Bitcoin continue to improve? Yes. Can a person tell much by looking at price changes over a relatively short period of time? No. Is Bitcoin's price volatile? Yes. Does Bitcoin's price volatility matter to long-term, buy-and-hold investors/owners? No. Do many people know what Bitcoin actually is, and the basics of how it works? No. Do many people understand fiat money? Fractional reserve banking? Central banking? No. Is the current global financial system still based entirely upon fiat currencies? Yes. Is fiat money backed by anything? No, not since 1971. Is fiat money created from thin air by central bankers? Yes, by the trillions. Is excessive "money printing" a form of theft? Yes. Do fiat currencies always devalue to zero? Yes. What about today's fiat currencies? They are well on their ways to zero. Did criminal bankers get bailouts about ten years ago? Yes. Did criminal bankers go to jail for causing the 2008/9 crisis? No, they got paid huge bonuses from the bailout money. Did anything significant get fixed as a result of 2008/9. No. In fact, today's situation is even worse than then. Are banker bailouts still happening? Apparently: recent Fed repo activities... looks like some Too Big To Fail / Too Big To Jail entity is insolvent. Stay tuned. Is the economy doing well? For the top one-tenth of one percent, yes. For the rest, the bottom 99.9% - with few exceptions, no. Are there asset bubbles due to central bank activities? Yes, in stocks, bonds, real estate, fine art, etc. Do asset bubbles always pop? Yes. Is there negative interest rate debt? Yes. Many trillions, and growing. In all recorded history, have there ever been negative interest rates? No, not until very recently. Are negative interest rates a strong warning signal. Yes. Is Bitcoin better than fiat money? For getting paid and buying groceries, not ye...
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