Digital Currency Update

As suggested several times before, the United States has no real choice here if they are going to remain globally competitive and, more importantly, to fight our enemies and other evil doers: https://tinyurl.com/3e764n4r

Fib

Yeah but it will be FedCoin, and China will have the digital yuan.  The CBs have been wanting crypto for a long time now. I still think that Bitcoin may not have the simple origins we think. It's weird how the government killed egold right before Bitcoin but didn't even try to stop Bitcoin. Actually, egold going away was one thing that made me wary of Bitcoin as an investment.

Anyway, my real point is, why wouldn't the Fed and especially a place like China, want people to adopt crypto? You can trace every single transaction that a coin has ever been through. There will be 0 privacy at all in the future with digital currencies, and I think that's exactly what the Fed wants.

There will be 0 privacy at all in the future with digital currencies, and I think that's exactly what the Fed wants.

It's just amazing how much Big Brother watches us, and we are powerless to do anything about it.

Just watch China to see our future.

"Who is like the Wild Beast and who can do battle with it?"

Coincidently, in related news... George Orwell died on this date: January 21, 1950

Big brother has stopped watching me. He got bored and stopped watching.

Crypto Crash Erases $1 Trillion...

Bitcoin, the largest digital asset, lost more than 12% Friday and dropped below $36,000 to its lowest level since July. Since its peak in November, it has lost over 45% of its value. Other digital currencies have suffered just as much, if not more, with Ether and meme coins mired in similar drawdowns.

Crypto Crash Erases $1 Trillion...

 

Bitcoin, the largest digital asset, lost more than 12% Friday and dropped below $36,000 to its lowest level since July. Since its peak in November, it has lost over 45% of its value. Other digital currencies have suffered just as much, if not more, with Ether and meme coins mired in similar drawdowns.

Starting to look like my Wave 5 tulip/mississippi bubble call may be accurate, as monthly momo finally crosses over...

When my "artist' nephew came gushing to me about how excited he was about Bitcoin near 64K, I knew we were real close, even if it managed a final run towards 100K.

Then the mayors starting announcing a la Giselle how they were going to get paid in Bitcoin....

All the pieces now look in place for an epic bust....

Under 25K and things could start to get real ugly...

Bubble run was so huge nominally, had to go to log chart to even see the first few waves...

Edited by K Wave, 22 January 2022 - 07:35 AM.

Here is the non-log version.

3 hour time frame has been beautifully controlling BTC waves since the breakout at 10K...

That break of the 200 MA at 64K was first sign most likely not going to 100K, and the breach at 54K, and subsequent back test FAILURE pretty much sealed the deal...

Now entering the epic relentless decline phase...

Edited by K Wave, 22 January 2022 - 07:43 AM.

Of course they will trace and TAX every single transaction.  That will be the time they will take rates negative also, they can charge you to keep your "money".

Yeah but it will be FedCoin, and China will have the digital yuan.  The CBs have been wanting crypto for a long time now. I still think that Bitcoin may not have the simple origins we think. It's weird how the government killed egold right before Bitcoin but didn't even try to stop Bitcoin. Actually, egold going away was one thing that made me wary of Bitcoin as an investment.

 

Anyway, my real point is, why wouldn't the Fed and especially a place like China, want people to adopt crypto? You can trace every single transaction that a coin has ever been through. There will be 0 privacy at all in the future with digital currencies, and I think that's exactly what the Fed wants.

White House Is Set to Put Itself at Center of U.S. Crypto Policy
(Bloomberg) -- The Biden administration is preparing to release an initial government-wide strategy for digital assets as soon as next month and task federal agencies with assessing the risks and opportunities that they pose, according to people familiar with the matter. Senior administration officials have held multiple meetings on the plan, which is being drafted as an executive order.
The directive, which would be presented to President Joe Biden in the coming weeks, puts the White House at the center of Washington’s efforts to deal with cryptocurrencies.