Thriller "A Bitcoin Zine"

<p>US: Federal Reserve Chairman Jerome Powell Speech</p> <p>Jerome Powell isn't sounding too dovish, once again saying the economy is performing well and is in a "good place." The Federal Reserve chair described today's employment report for August, where payroll growth slowed, as consistent with a strong labor market. Powell also said the consumer sector remains strong but that manufacturing is moving sideways to down. And the chair did cite risks to the outlook, including slowing global growth and low inflation. He said trade uncertainty is hampering business investment which has been a focal point for the Fed this year and was cited as a major factor in its July decision to cut rates for the first time this cycle. Whether the Fed cuts rates again at the FOMC later this month is less than certain, though Powell did say that the Fed is watching risks carefully and will act as appropriate. On the question of a possible recession, Powell said the Fed is not expecting nor forecasting one.</p> <p><a href="https://unctad.org/en/pages/PublicationWebflyer.aspx?publicationid=2466">Digital Economy Report 2019</a></p> <p>The rapid spread of digital technologies is transforming many economic and social activities. However, widening digital divides threaten to leave developing countries, and especially least developed countries, even further behind. A smart embrace of new technologies, enhanced partnerships and greater intellectual leadership are needed to redefine digital development strategies and the future contours of globalization.</p> <p>This first edition of the Digital Economy Report – previously known as the Information Economy Report − examines the implications of the emerging digital economy for developing countries in terms of value creation and capture. It highlights the two main drivers of value creation in the digital era − digital data and platformization – and explores how current trends of wealth concentration could be replaced by trajectories leading to more equitable sharing of the gains from digitalization.</p> <p>A and China leading the world</p> <p>The report highlighted the dominance of the two superpowers, saying that the US and China accounted for “75 percent of all patents related to blockchain technologies, 50 percent of global spending on the “Internet of Things” (IoT), and more than 75 percent of the world market for public cloud computing.”</p> <p>Not only that, but the two nations hold 90 percent of the market capitalization value of the world’s 70 largest digital platform companies. This is due to the major internet companies, like Apple, Amazon, Google, Facebook heralding from the US and Tencent as well as Alibaba from China.</p> <p>The aggressive expansion of these companies is no doubt a deciding factor in the dominance of the US and China. In terms of digital currencies, Facebook is the most notable in its currency move. Most of these companies have looked towards blockchain too, like Alibaba and Baidu.</p> <p>Bitcoin Trading at Record Inverse Correlation With Yuan</p> <p>Bloomberg has <a href="https://www.bloomberg.com/news/articles/2019-09-06/record-bitcoin-yuan-divergence-suggests-new-trade-war-fallout">reported</a> that the 30-day inverse correlation between Bitcoin and the yuan has reached a record low, implying that the trade war has forced Chinese investors to adopt BTC.</p>

<p>Today Car discusses what many economists believe that international demand for dollars (in the form of our debt such as Treasury Bills) allows the United States to maintain huge trade deficits, without fear of major US currency devaluation. But what were seeing now in this next downtown could be a paradigm shift. Quantitative easing and low — even negative — interest rates, which have become a way for central banks to prop up asset markets across the globe are at great risk. </p> <p>According to Ray Dalio: </p> <p>More specifically, central bank policies will push short-term and long-term real and…</p>

<p>Car reports on the Economic Policy Symposium 2019 that took place in Jackson Hole, Wyoming. Some of the world’s most powerful bankers and economic thinkers spent three days holed up at Jackson Lake Lodge, as they do each summer for the Federal Reserve Bank of Kansas City’s annual symposium. We discuss the views on Federal Reserve policy, the outlook for the U.S. economy, threats to the central bank's independence and what this all means for Bitcoin. </p> <p>Dollar Cost Averaging Into Bitcoin </p> <p>https://dcabtc.com/ </p> <p>CPI Inflation Calculator - Bureau of Labor Statistics<…</p>

<p>Car discusses the latest BlackRock Investment Institute MACRO AND MARKET PERSPECTIVES for AUGUST 2019 Dealing with the next downturn: From unconventional monetary policy to unprecedented policy coordination</p> <p><a href="https://www.blackrock.com/corporate/literature/whitepaper/bii-macro-perspectives-august-2019.pdf">https://www.blackrock.com/corporate/literature/whitepaper/bii-macro-perspectives-august-2019.pdf</a></p> <p>He specifically dives into the the portion of the report where they discuss Monetary Financing. </p> <p>They also mention Cryptocurrencies as not playing a role in the next downturn.</p> <p>For example, policy innovations in the next downturn will likely need to take inequality more directly into account to be politically palatable. Not all asset purchase programs are born equal when it comes to their impact on inequality. Policy responses that put money more directly in the hands of citizens might be more attractive. The rise of central bank-issued electronic money (not cryptocurrencies) might achieve these objectives in ways that were not previously possible. But this is also a slippery slope. A drift away from central bank independence – where the overall monetary policy stance is dominated by short-term political considerations – could quickly open the door to uncontrolled fiscal spending. The risk is real. This slippery slope leads to arguments that monetary policy can finance fiscal deficits – and that there is only a tenuous link between inflation and money-financed deficits, as some proponents “Modern Monetary Theory” (MMT) claim. The key is that coordination does not require giving up central bank independence. Instead, policy frameworks need to evolve to acknowledge that it is not the response itself that needs to be independent. The policy response in times of crisis will have to involve elements of both fiscal and monetary policy. But the contribution of monetary and fiscal authorities to the response can still be cleanly separated. The approach described on the next page provides a concrete example of how this can be done. </p> <p>He also discusses the Big Four – a group of huge financial holding companies that control many sectors of the economy in the US and abroad. BlackRock being one of them. Other members of the Big Four also include: the Vanguard Group; State Street Corporation; and FMR Corporation (Fidelity). FMR Corporation as you know is extremely bullish on Bitcoin.</p>

<p>If the Bakkt blueprint works as planned, a panoply of new Bitcoin funds would tap the pent-up demand for the cryptocurrency, making it a safe and easy choice for everyday investors—notably millennials getting their first 401(k)s. Wall Street could then tap Bitcoin’s popularity as an alternative to stocks and bonds to generate giant trading volumes. And that flood of institutional buying and selling, in turn, would take the terror out of Bitcoin by smoothing its wild swings in price. </p> <p>Cracking the 401(k) and IRA market for cryptocurrency would be a huge win for Bakkt. But…</p>

<p>Today we are talking Bitcoin and the Next Recession. This is not to scare you but to give you different scenarios on what could occur during the next global financial crisis like in 2008 (type level financial crisis.)</p> <p>Go back and listen to Thriller Coin Talk: The End of Central Banking where I discusses why the world’s monetary system is being destroyed. </p> <p>Well according to <a href="https://www.barrons.com/articles/cryptocurrencies-recession-bitcoin-ethereum-ripple-51552071925">Barron’s</a></p> <p>The chatter surrounding the timing of the next recession is only getting louder, with two-thirds of economists now predicting that we will see some sort of economic downturn by the end of 2020. As we prepare for what many consider to be the inevitable, I’m frequently asked by investors and colleagues: “How will a future recession impact the cryptocurrency industry?” </p> <p>This new, decentralized asset class was born at the tail end of the housing crisis, and has yet to experience the full force of a recession or even lengthy bear market. What I can say with certainty, however, is that few industries will have more to learn and more to teach: because not all 2,000 cryptocurrencies are alike and, as such, not all 2,000 cryptocurrencies will respond the same way to market pressure.</p> <p>I think we have to look at some key factors by zooming out.</p> <p>1st) I think, short-term, definitely Bitcoin is going to go down. People need to withdraw that money. Also as the market trades down, people get more fearful and they'll be selling more Bitcoin and move it over to fiat to withdraw. In plain speak its a domino effect. Retail investors get more fearful and then as Bitcoin falls in value, people will wonder if Bitcoin is or isn't a store of value. Which continues to more and more selling. Rinse and Repeat.</p> <p>2nd) Today is a Trial Run of sorts, it truly is…which is good (I promise keep reading.) Because it will really depend on how big this next global recession will be and how the Bitcoin market will react. Which today was a precursor, a sort of announcement to the world, “Hey look were heading towards a global recession.”</p> <p>Starting this morning…BTC began to fall sharply from $10,862 to as low as $9,888 before traders bought the price back up above $10,000. It marks the worst single-day loss since July 16, approximately 30 days ago.</p> <p>3rd) Pay attention to Miners and what they do. Mining will be incredibly interesting to watch and how that impacts the Bitcoin/crypto ecosystem. We need a set of miners that are able to operate at lower costs and what happens when other miners are unable to mine in this global recession? Does that increases the chances of a 51% attack? Which could lead to another major drop in price and sentiment.</p> <p>4th) What happens to exchanges? Think about it…suddenly there's a major global recession and retail investors and holders of last resort are pulling money and everyone's pulling money…at the same time from multiple exchanges? Do we really know what the deposit ratio is for Gemini, Kraken, Coinbase? Do they know? What happens if everyone suddenly pulls at the same time from some of the biggest exchanges? Can we cover it all? Will we be paid in Tether or USDC?</p> <p>5th) Finally Bitcoin needs this challenge. Yes that’s right I said it. We need this challenge. Bitcoin / Crypto as an industry needs to survive this next recession, this is not being talked about in the industry and is not really being considered, we need to have these conversations now…to prepare.</p> <p>Show Note Promises:</p> <p>The packet of slides sent to clients early this week, from Goldman Sachs Group Inc. technical analyst Sheba Jafari. Interesting, she brightly predicated last years fall under 5K in February.</p> <p>To view the full document check out the link below. <a href="https://www.scribd.com/document/421604963/Goldman-Sachs-slide-deck#download&from_embed">https://www.scribd.com/document/421604963/…</a></p>

<p>By October 2019, the Securities and Exchange Commission is expected to decide whether to approve two bitcoin ETF applications. Filed by Bitwise Asset Management and VanEck, these ETFs would give investors a simpler way to gain exposure to bitcoin cryptocurrency. Approval doesn’t mean immediate launch—that could take time. But if approved and launched, should you invest in it?</p> <p>How big can the ETF market become?</p> <p>In 2017 was a record year for the global ETF market. Assets invested in ETFs and other exchange-traded products (ETPs) reached a new all-time high of $4.8 Trillion. “So far, assets in global ETFs have doubled every five years,” says Bryon Lake, head of international ETFs at JP Morgan Asset Management. “So can we reach $10 Trillion in assets in 2022, compared to the current $5trn? It’s a stretch but it’s entirely possible.”</p> <p>The U.S. Securities and Exchange Commission again delayed a decision on approving three Bitcoin exchange-traded funds, dealing another blow to those in the cryptocurrencies community holding on to the belief that a favorable decision was imminent. The regulator postponed until October a ruling on whether listing rules can change to allow the two funds to start trading. Decisions for both the Bitwise Bitcoin ETF Trust, which wants to track the 10 largest digital tokens, and the VanEck SolidX Bitcoin Trust.</p>

<p>Car discusses Bitcoin accumulation and breaks down his take on how it should be done. </p> <p>He also discusses Bitcoin in coin analysis, and the effect of the Bitcoin ETF on the 19th of August. </p> <p>Subscribe via iTunes or Substack. Also follow on Twitter and Medium. </p> <p>"If you enjoyed listening to this episode and you want a really easy way to support Thriller Premium, why don't you head over to Apple Podcasts and leave us a quick rating or even a review? </p> <p>Please leave a Review. Just go to ThrillerRating.com and that…</p>

<p>The term “Black Swan Event” describes certain events in history so profoundly unexpected and massive in scale, that they fundamentally changed the course of history. There are good Black Swans and bad Black swan. One black swan event was perhaps the genesis of bitcoin’s birth: The subprime mortgage crisis which almost brought down the entire banking industry. </p> <p>Economic storm clouds have long been gathering on the horizon, and lightning struck this week with the Dow erasing two months of gains, and the Chinese yuan falling to a level not seen since 2008. With Bitcoin surging, is the digital currency turning into a safe-haven asset?</p> <p>Bitcoin is now the 11th largest money in the world, and it obtained this with only a nine-page paper created anonymously fueled by a grassroots movement. Millions of people have chosen a bank with no CEO, office or marketing department and it should absolutely blow your mind and scare you at the same time.</p>

<p>Bitcoin, which has rocketed about 200% higher in 2019, soared as much as 9% on Monday to over $11,000 as weekend uncertainty between China and the United States rattled global stock markets. </p> <p>Hyperbitcoinization is a state where Bitcoin becomes the world’s dominant form of money. Bitcoin is socially wired and can be adopted exponentially. As it gains traction it will seem to be an organic, self-organizing process. Bitcoin is in the infrastructure build-out phase and an early form of money. However, when it passes a critical “tipping point” Bitcoin adoption, use and price will skyrocket. With rapid global acceptance, the cost…</p>

<p>Corporate coins are coming, Walmart is looking into its own US dollar-backed digital currency, along the same lines of Facebook’s much hyped Libra project. </p> <p>A patent application outlines a method for “generating one digital currency unit by tying the one digital currency unit to a regular currency; storing information of the one digital currency unit into a block of a blockchain; buying or paying the one digital currency unit”. </p> <p>According to a patent filing submitted to the U.S. Patent and Trademark Office Thursday, Walmart’s currency would serve low-income households by offering a “fee-free…</p>

<p>The last three or four decades have seen a remarkable evolution in the institutions that comprise the modern monetary system. The financial crisis of 2007-2009 is a wakeup call that we need a similar evolution in the analytical apparatus and theories that we use to understand that system. Three features of the new system are central. Most important, the intertwining of previously separate capital markets and money markets has produced a system with new dynamics as well as new vulnerabilities. The financial crisis revealed those vulnerabilities for all to see.</p> <p>New York Fed President John Williams, among others, has made the case that the Fed has limited medicine in the medicine cabinet to aid the economy and that it’s better to administer the pills at the first signs of trouble rather than waiting for full-blown illness when there might not be enough medicine left to make a difference. Interest rates are very low by historical standards. For example, the benchmark rate was over 5 percent before the Fed started reducing it in 2007. Now the benchmark rate is half that amount, meaning there will be less stimulus this time around from cutting rates.</p> <p>America enjoys a unique position of power over the world’s financial system thanks to the supremacy of the US dollar. But several of the nation’s adversaries appear to think they’ve found a clever way around this decades-old setup: cryptocurrency. This is because an interest rate cut reduces the yield on a currency. Further, the liquidity added to the economy via rate cuts often leads to inflation and loss of purchasing power of the currency. Put simply, falling interest rates mean fewer reasons to hold U.S. dollars, as pointed out by Alan Silbert, executive managing director at INX Trading Platform. Silbert believes the Fed will deliver more rate cuts in the near future.</p> <p>The Fed has cut rates less than 12 months away from bitcoin’s mining reward halving – a process aimed at curbing inflation by reducing reward for mining on the blockchain by 50 percent every four years. Essentially, BTC’s monetary policy is on a preset path – its supply is halved every four years. The monetary policy divergence would widen further if the Fed embarks on a full-blown easing cycle, as anticipated by Silbert. That would further strengthen bitcoin’s appeal as store of value and may bolster the bull market.</p> <p>Sources: Travis Kling, Perry G Mehrling</p> <p><a href="https://www.coursera.org/learn/money-banking">https://www.coursera.org/learn/money-banking</a></p>

<p>Bitcoin and the rest of the crypto market has been spiraling downwards after a minor spike yesterday to 10.4K, leading to a continuation of the downwards pressure that Bitcoin and other major alts have incurred over the past several weeks. </p> <p>Now, crypto analysts, traders and notable personalities are noting that there is a high probability that Bitcoin’s recent pullback extends significantly lower, but that in the long-term Bitcoin’s price may be bolstered by growing global economic weakness. </p> <p>Over the past week, the global economy has flashed several warning signals that may tell investors that…</p>

<p>Car discusses Bitcoin’s Next Wave. Some institutions were not investing in cryptocurrencies before 2019, but with the UAT launch of Bakkt on Monday and Fidelity Digital Assets which now offers both custody and trade execution for bitcoin to institutional investors, who has also seen institutional interest deepen over the last couple of months. We can almost guarantee they will now. </p> <p>A recent report from BNY Mellon quoted the following, </p> <p>Short Term Bitcoin Daily Chart </p> <p>Bitcoin price action appears likely to keep coiling in the short-term as it aims for a retest of its critical…</p>

<p>When Neil Armstrong planted his foot on the lunar surface five decades earlier, he made good on what President John F. Kennedy promised would be America’s “moonshot bet.” The “moonshot bet” has become a familiar term in business culture. Recently, Jeff Sprecher, the Chairman and CEO of Intercontinental Exchange, in his fourth quarter earnings conference call, termed ICE’s investment in Bakkt “a bit of a moonshot bet.” </p> <p>Q1 2019 -- January 1, 2019 to March 31, 2019 </p> <p>ICE First Quarter 2019 Earnings Conference Call & Webcast WEBCAST May 02 , 2019 </p> <p>Q2 2019 -- April 1, 2019 to June 30, 2019 </p> <p>ICE Second Quarter 2019 Earnings…</p>

<p>Car discusses the Bakkt Institutional Digital Asset Summit on July 18, the testing phase is launching Monday July 22, Bakkt plans to start user acceptance testing (UAT) for its Bitcoin futures products. The first two contracts to be listed by ICE Futures U.S. are "Bakkt Bitcoin (USD) Daily Futures" and "Bitcoin (USD) Monthly Futures". </p> <p>In order to provide "regulated custody in the Bakkt Warehouse, Bakkt has filed with the New York State Department of Financial Services (NYDFS) for approval to form a limited-purpose trust company that would serve as a qualified custodian of bitcoin under applicable law." </p> <p>…</p>

<p>Car breakdowns the Libra discussions from the Senate Banking Committee on Tuesday (July 16.) Overall, Tuesday’s hearing was heavy on Facebook-related questions and light on crypto issues, indicating that the lawmakers were more worried about the company than the technology. </p> <p>Recap: Facebook first announced Libra last month, when it introduced Libra Association, a Geneva-based consortium of big-name “founding members” including Visa, MasterCard, PayPal, Stripe, Uber and Lyft etc… </p> <p>Looking Forward: Facebook’s David Marcus is set to appear before the House Financial Services Committee Wednesday afternoon July 17th 2019 for Round 2. </p> <p>Good Background To Know…</p>

<p>Car discusses Treasury Secretary Steven Mnuchin press conference on Monday about Bitcoin “could be misused by money launderers and terrorist financiers” and that it was a “national security issue.” </p> <p>Then he gives you 5 good minutes on why you should still hold your Bitcoin after today. </p> <p>Subscribe via iTunes or Substack. Also follow on Twitter and Medium. </p> <p>"If you enjoyed listening to this episode and you want a really easy way to support Thriller Premium, why don't you head over to Apple Podcasts and leave us a quick rating or even a review? </p> <p>…</p>

<p>Car discusses bullish scenarios for Bitcoin in 2019. The halving is in 314 days. Bitcoin's inflation rate will be cut to 1.8%. Why is that important? It will be lower than central banks target of 2% inflation. In 2012 when Bitcoin halved the price was $12.50. In 2016 it was $650, up 50x over 4 years. If Bitcoin appreciates 50x again, at the 2020 halving the price will be $32,000 per Bitcoin. If it does it again for 2024 the price will be 1.6 million a coin. </p> <p>In 2019 most Bitcoin OG’s report, the geopolitical risks that weighed on global economic growth in the second half of 2018 would likely carry through to 2019. That uncertainty would be a boom for Bitcoin prices, as institutional investor demand is expected to increase Bitcoin's effective and increasing hedging role.</p>

<p>Car deep dives to find key discoveries into why Bakkt and ErisX are massive factors at play for later this year. The fact remains ErisX and Bakkt both want to launch bitcoin futures, but the two firms are taking different approaches to the market according to their executives. Until now both firms have been waiting for the regulatory green light. According to a statement from the company, ErisX just obtained a derivatives clearing organization license (DCO) this week, allowing the exchange's upcoming clearinghouse to clear digital asset futures contracts.Subscribe via iTunes or Substack. Also follow on Twitter and Medium."If you enjoyed listening to this episode and you want a really easy way to support Thriller Premium, why don't you head over to Apple Podcasts and leave us a quick rating or even a review?Please leave a Review. Just go to ThrillerRating.com and that should open up Apple Podcasts.Podcast reviews are pretty darn important and the more reviews we receive, the more likely we'll be able to get Thriller Premium in front of more people.I am very appreciative for each one of you and would be extremely grateful if you left a 5 star review showing support. I read pretty much all the reviews that you guys leave over there. Thank You."🔊 For Podcast ⚡ Lightning ⚡ ListenersYou can now use an app and support streaming sats to Thriller Premium.Mobile: Breez is an excellent non-custodial Lightning walletMobile + Desktop: Sphinx Chatalso supports streaming to podcastsDesktop/Browser: podStationbrowser extensionMobile + Desktop: PodFriendas app and on webMobile + Desktop: CurioCasteras a progressive web appMore information is available at https://satoshis.stream This is a public episode. Get access to private episodes at www.thrillerpremium.com/subscribe</p>

<p>Car discusses the bullish fatigue that resulted this noticeable pullback, the overall long-term trend for bitcoin price remains on an upward trajectory very reminiscent to 2011-2013. </p> <p>He also discusses that Bitcoin and the rest of the cryptocurrency market will begin recovering faster in the latter half of 2019. Bitcoin has tended to rebound a year prior to its block reward halving. If the demand for Bitcoin goes up or remains the same and the supply of the asset decreases, it causes the price of Bitcoin to go up. This could push to parabolic states. </p> <p>Subscribe via iTunes …</p>

<p>Car discusses the latest news from the Federal Reserve. Jerome Powell said that “we’re a long way from that,” going on to note that “digital currencies are in their infancy.” He also dives into the current “Quantitative Easing” period as being one of the most irresponsible and largest “monetary policy experiments in human history”, citing the fact that this policy has propped up financial markets across the globe. </p> <p>Subscribe via iTunes or Substack. Also follow on Twitter and Medium. </p> <p>"If you enjoyed listening to this episode and you want a really easy way to support…</p>

<p>Car discusses the latest news on Project Libra and why a pump for a related cryptocurrency is likely this weekend. He also goes into why Globalcoin will not be as big of a deal to the mainstream media as everyone thinks. Then he gives you 5 Good Minutes on why Bitcoin being labeled as Digital Gold just works for nocoiners and also gives the Hard Truth on how the SEC tricked the retail investors into thinking they were on their side. </p> <p>Subscribe via iTunes or Substack. Also follow on Twitter and Medium. </p> <p>"If you enjoyed listening to…</p>

<p>Car discusses the latest news of G20 group of nations reaffirming it will align with standards for anti-money laundering (AML) and countering the funding of terrorism (CTF) set by the Financial Action Task Force on June 21st. He also goes into Litecoin increase and decrease today. Then we discuss 3 crypto projects to look out for, as they are set to lose big time over the next 12-18 months.</p>

<p>Car discusses the latest news from Facebook and why he fears they are not just coming to compete with stablecoins. He also goes into why this puts Facebook in competition with every blockchain in the space. Then he gives you 5 Good Minutes on EOS new platform “Voice” and also gives the Hard Truth on Binance’s just announced new stablecoin. </p> <p>“Thriller Crypto” podcast has been around since early 2017 with over 300 crypto episodes broadcasting to over 160 countries. You can listen to all the latest episodes at ThrillerX.com </p> <p>Roll the Disclaimer: Nothing in this email is intended…</p>

<p>Car discusses the news that Justin Sun bid a record $4.57 million to have lunch with Warren Buffett, who famously referred to Bitcoin as “probably rat poison squared.” </p> <p>He also speculates that a pull back in Bitcoin price is coming according to coin metric data, bitcoin transaction volume has fallen significantly the past couple days. He also goes into what new crypto projects he expects to see 2X, 3X in the short term. </p> <p>“Thriller Crypto” podcast has been around since early 2017 with over 300 crypto episodes broadcasting to over 160 countries. You can listen to all the latest episodes…</p>

<p>Car discusses the news that Facebook is planning to set up a digital payments system in about a dozen countries by the first quarter of 2020. The social media giant wants to start testing its crypto-currency, which has been referred to internally as GlobalCoin, by the end of this year. </p> <p>He also speculates on how this will be rolled out to Instagram, WhatsApp, Messenger and introduces the idea that this will lead into Amazon creating Prime Coin. </p> <p>“Thriller Crypto” podcast has been around since early 2017 with over 300 crypto episodes broadcasting to over 160 countries. You can listen to…</p>

<p>Car discusses why the world’s monetary system is being destroyed. Consequently, the economic signals that guide the markets – which in a free market are supposed to represent the supply and demand decisions of billions of people – have up to now all been totally false. Despite frequent denials by Central Banks and most mainstream economists, we are heading towards something inevitable.</p>