Welcome to the Bitcoin Street Journal Bitcoin
Market Update, the podcast that brings you daily
live updates on the ever -changing Bitcoin market.
Stay informed with our in -depth Bitcoin technical
analysis as we explore Bitcoin breaking news,
the current price of Bitcoin, BTC, market capitalization
and market supply. Get ready to dive into the
world of Bitcoin and stay ahead of the game.
In today's episode, we'll cover the acknowledgement
of Bitcoin as a global currency and critical
hedge against inflation, the progress of Bitcoin
halving, the risk of storing assets on exchanges,
Dorsey's resignation from Twitter to focus on
Bitcoin, the advantages of Bitcoin as the best
-performing asset, and preventing government
funding through inflation, and the comparison
of Bitcoin to silver in the digital world. So
here's some interesting news for you all. The
founder of OpenAI, Sam Altman, recently acknowledged
the power and potential of Bitcoin. He expressed
his excitement about the idea of having a global
currency that is not under the control of any
government. Altman sees this as a logical and
important step forward. And you know what? This
is a big deal because even someone as influential
as Altman recognizes how powerful Bitcoin truly
is. Now let's move on to some more Bitcoin related
news. Bittman, a prominent figure in the Bitcoin
community, recently made waves again. This time
he projected the words, study Bitcoin, at the
Festival of Lights in Berlin, Germany. Talk about
making a statement. It's great to see Bitcoin
gaining visibility in such a creative and eye
-catching way. But that's not all. Investment
bank Jeffreys has described Bitcoin as a critical
hedge against the potential devaluation of currency
due to monetary policy and the return of inflation.
This is an interesting development because it
reflects the growing recognition of Bitcoin's
value as a strategic asset. It's definitely encouraging
to see more mainstream institutions acknowledging
the importance of Bitcoin in navigating uncertain
economic times. Now let's talk about the progress
of the Bitcoin halving. Currently, we're at 86%.
For those unfamiliar with the concept, the Bitcoin
halving is an event that occurs approximately
every four years, where the reward for mining
Bitcoin is reduced by half. This mechanism helps
control the supply of Bitcoin and has a significant
impact on its value. So keeping an eye on the
progress of the halving is crucial for anyone
interested in the Bitcoin market. Speaking of
the Bitcoin market, let's reflect on the top
10 list of crypto market caps from 2013. It's
fascinating to see that out of all the cryptocurrencies
on that list, only one remains successful today.
Bitcoin. This raises an important question. Why
is it that so many people are Bitcoin only? Perhaps
it's because Bitcoin has proven itself as a reliable
and resilient digital asset with a track record
that speaks for itself. Now, let's discuss a
recent revelation that may raise some eyebrows.
It turns out that FTX's public insurance fund
size was apparently fake. Yes, you heard that
right. The reported value of the fund was artificially
inflated by including a random number in the
calculation. This is a stark reminder of why
it's crucial not to entrust your assets to exchanges.
The decentralized nature of Bitcoin allows individuals
to have full control over their funds, reducing
the risks associated with centralized entities.
So there you have it. a roundup of some intriguing
news in the world of Bitcoin. From the acknowledgement
of its power by influential figures like Sam
Altman, to creative displays at festivals and
investment banks recognizing its value as a hedge,
Bitcoin continues to make its mark. Just remember,
keep an eye on the Bitcoin having progress. Appreciate
Bitcoin's resilience amidst the ever -changing
crypto landscape, and always prioritize the security
of your assets. Hey there, did you know that
five months after that quote Dorsey actually
resigned from Twitter to focus on Bitcoin? Pretty
interesting, right? So history doesn't exactly
repeat itself, but it certainly rhymes. It's
always a good idea to check the date and the
headlines see what's really going on. But you
know what? Bitcoin allows us to opt out of all
the madness that's constantly happening. It's
like a way for us to steer clear of all the craziness.
The beauty of holding Bitcoin. is that it prevents
governments from funding their activities through
inflation. That's something we've never really
had before. We now have the power to choose to
demonetize wars. Can you imagine the impact this
could have on a global scale? Being part of a
system that has the potential to bring peace
to the world is pretty awe -inspiring, if you
ask me. Now let's talk about how Bitcoin has
been performing. It has been the best performing
asset of the year by a landslide. That's pretty
impressive, don't you think? And it's not just
about the financial aspect. It's about the fact
that Bitcoin allows us to demonetize governments
and their wars. It's like a wealth transfer.
And even though that may not have been the original
objective, it's definitely a nice added feature.
Who wouldn't want to benefit from that, right?
Speaking of governments and wars, let's hear
what US presidential candidate Robert Kennedy
Jr. has to say about fiat money. According to
him, fiat currency was actually invented to fund
the cause of war. It's quite a thought -provoking
statement, isn't it? It really makes you question
the financial systems we have in place. Okay,
let's switch gears now and talk about something
a bit more technical. How about an easy explanation
of how hardware wallets work? Cole from x .com,
Comma has got us covered. Hardware wallets are
a secure way to store your Bitcoin and other
cryptocurrencies. They provide an extra layer
of protection by keeping your private keys offline
and away from potential hackers. It's like having
a little vault for your digital assets. So if
you're looking for a safe and reliable way to
store your Bitcoin, a hardware wallet is definitely
something to consider. Alright, that wraps up
our discussion for today. Remember, Bitcoin is
not just about financial gains. It's about the
potential to bring about positive change in the
world. Let's focus on that and keep the conversation
going. Take care and see you soon. Now let's
talk about some of the so -called positives of
silver. First, it's been used for thousands of
years as money. But let's be honest, silver is
old. It's an analog form of currency that doesn't
work in today's digital world. When you're in
the Starbucks drive -thru craving a soy latte,
you can't use silver on your phone to pay for
it. And when you want to buy something online,
silver won't cut it. The younger generation is
more than happy to carry their phones everywhere,
but they definitely don't want to be burdened
with a pocket full of metal. In comparison, Bitcoin
is young, only 14 years old, and perfectly adapted
to the digital era. Another argument in favor
of silver is that it has thousands of industrial
uses. While that may be true, silver actually
has better uses than being used as money. For
example, It can be used to make Bitcoin mining
equipment. Why would you want to waste such a
valuable resource on something as mundane as
currency? Silver is too important to be limited
to just being used as money. Bitcoin, on the
other hand, is solely designed to function as
a form of digital currency. Silver is also touted
as the number one conductor of electricity. While
that may be impressive, it's not a good enough
reason to stick all that silver in a vault. Silver
should be put to better use than just sitting
idle. Bitcoin, on the other hand, doesn't have
this distraction. It doesn't need to conduct
electricity or have any other additional functionalities.
Its sole purpose is to be used as a decentralized
digital currency. There's also the argument that
silver is depleted in high demand and will be
out of mines by 2044, if not sooner. But let's
think about it. The earth is vast and there's
an abundance of silver still left untapped. Even
if we were to run out of silver, recycling would
be an option. And if that's not enough, we could
start mining asteroids or even other planets.
Bitcoin, on the other hand, is limited to a total
supply of 21 million coins, ensuring scarcity
and value preservation. Some people like the
fact that you can physically hold silver and
that it can't be turned off. But let's not forget
that silver is heavy. To possess the equivalent
value of one Bitcoin, which is around $28 ,000,
you would need over 80 pounds of silver in the
form of monster boxes, each weighing 42 pounds.
In contrast, Bitcoin weighs nothing at all. It's
purely digital. Silver is often considered collectible,
shiny, and pretty. While it may be visually appealing,
silver tarnishes over time unlike Bitcoin and
even gold. Beauty is subjective, and in the world
of cryptocurrencies, it's the math and underlying
technology that truly shines. That's where Bitcoin
excels. Lastly, It's mentioned that each electronic
vehicle requires two kilos of silver to make.
Once again, silver may have industrial uses,
but there are better alternatives for those purposes.
Silver's potential as a monetary unit should
not overshadow its other capabilities. Bitcoin,
on the other hand, is specifically designed to
be a decentralized digital currency and doesn't
have any other side uses or distractions. In
conclusion, while silver may have some redeeming
qualities, it falls short in comparison to Bitcoin.
Silver is old, heavy and limited in its functionalities.
It has better uses in various industries than
serving as a mere form of money. Bitcoin, on
the other hand, is young, digital and perfectly
suited for today's world. With its limited supply,
decentralized nature and focus solely on being
a currency, Bitcoin is truly the superior investment.
So let's not waste our time debating with silver
enthusiasts and instead embrace the future of
digital finance with Bitcoin. In this episode,
we explored the power of Bitcoin as a global
currency outside government control, its role
as a hedge against inflation and the progress
of the Bitcoin halving. We also discussed the
risks of storing assets on exchanges and the
past resignation of Jack Dorsey from Twitter
to focus on Bitcoin. Additionally, we compared
the advantages of Bitcoin over silver in the
digital world. Thank you for tuning in to the
Bitcoin Street Journal Bitcoin Market Update,
your go -to source for daily live Bitcoin market
news updates, current Bitcoin technical analysis,
BTC price fluctuations, market capitalization
and market supply. Make sure to subscribe and
join us for our next episode.