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...and it took other cryptos with it.

Is this a revaluation or just a blip?
 

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...and it took other cryptos with it.

Is this a revaluation or just a blip?
This is a much needed pull back. Bitcoin needs to pull back even more.

Powell is still printing money with Yellen in the Treasury. This was expected, but all the new money coming in has to go somewhere.


As for Powell, everything that they are monetizing is going into stocks, bonds and distressed real estate assets (CDOs & CDMO).

Eventually its got to go into an appreciated asset to offset inflation.

So the choices are precious metals and cryptos.


The word on Wall Street is that the entire continent of Africa is unbanked, and will be using cryptos exclusively. That fact alone will be drive trillions into crypto.
 

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What does it mean to say "the entire continent of Africa is unbanked"?
Just what it sounds like. Africa (and much of the world for that matter) is unbanked. Crypto will provide an easy onramp to banking services and easy access to stable currency. Developing countries who adopt crypto will succeed, those who don't will continue to fail.
 

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What does it mean to say "the entire continent of Africa is unbanked"?
It means that they have no bank accounts and therefore cannot transact with checks and debit cards. Having no checking account means they have no credit rating, and thus cannot be issued a credit card. That leaves, cash, wire transfers, precious metals and stones, and crypto as an means to transfer money.
 

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Ah! Thank you, that makes a lot of sense. Hopefully the third world can propel the rest of us into "unregulated cryptocurrencies" and get the banks off our backs.
 

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Just what it sounds like. Africa (and much of the world for that matter) is unbanked. Crypto will provide an easy onramp to banking services and easy access to stable currency. Developing countries who adopt crypto will succeed, those who don't will continue to fail.
But Biden said that alot of the population demographic doesn't know how to get online, so how can they use Crypto?
 

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Not to support Biden but that’s very true. I just retired from telecom, I saw it on a daily basis.
I have yet to see anyone under 40yo that doesn't know how to get online and most over 40yo that are digitally illiterate are so by choice. Even in developing nations smart phones are becoming commonplace. As boomers and older GenX die out, digital literacy will be at near 100% in developed nations with developing nations lagging but gaining traction year after year. By the time I'm 60yo I'd be surprised if 99% of the world doesn't have internet access.

The biggest hurdle for developing countries using crypto is UI learning curves. Every year I see advancements in the space, and I think by 2030 we'll see extremely streamlined and simple onramps to decentralized banking available at the click of a button. The developing world will see a boom in productivity and opportunity that has never been within reach.
 
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