No Nonsense Forex

This game is beatable.

You Have Other Options (Don’t Laugh)

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A Bitcoin ETF is coming.

 

A lot of people hate the fact the evil forces are now in the game.

 

But it doesn’t have to be that way.

 

Just so you all know, this Saturday’s 10-Minute Contrarian Podcast is going much deeper on the Bitcoin ETF filings and their implications, so don’t think this blog post is the only time I’m touching on it.

 

It’s far too big to ignore.

 

It’s Going Down

 

Every BTC Libertarian’s biggest fear has finally come full-circle, and BlackRock has decided it’s finally time to take over the Bitcoin market and have control over the one things they couldn’t control for a long time.

 

This is a well-put-together short video describing what’s happening, and the fear behind it.

 

 

Now just because it’s well made, doesn’t mean I don’t take some issues with it.

 

We can start with the thumbnail.  BlackRock has $9Trillion AUM, they are not deploying all of that into Bitcoin, let’s not be complete dipshits here.

 

0:42 – It doesn’t matter what they say, that’s 100% correct….kind of.  It’s mostly misdirection.  What BlackRock and JP Morgan say on TV to us poors is often the opposite of what they say to their rich clients.  There’s literally no law against them doing this.

 

1:43 – I like the theory, but I think the real move down is still coming.

 

2:10 – He was bought off a long time ago.  A good way to tell, every time, is an irrational change in sentiment.

 

Look at companies in the US that change their political stances on a dime.  Do you really think they woke up one morning and decided to think completely different about life than they did before?  Or were they compromised?  You know the answer.  Same with Gary.

 

2:41 – I fail to see the correlation here.

 

3:21 – Ahem

 

3;42 – Don’t be too sure kiddo.  The ripple effects may go far beyond the net benefits.

 

More on this in Saturday’s podcast episode.

 

Alternatives Were Always There

 

And they’re more attractive than ever IMO.

 

There are so many reasons to be bullish on BTC, we already know that.

 

But LTC will probably go up at an even faster rate, and does all of the things we Libertarians love about BTC.

 

And it’s not corrupted yet.

 

I do see a world where LTC gets popular enough to get back on the national radar and TradFi wants back in, but by then the price will have gone up a whole lot and you will have the luxury to adjust your positions accordingly.

 

It’s easy for maxis and people who only receive BTC news to laugh off LTC, but do so at your own peril.

 

 

There is a halving event for LTC coming very soon as well.  I was hoping for lower prices before this event, but the ETF filings ruined that little party for me.

 

NFA, but you really should have some LTC.  We’ve gone over the reasons ad nauseum on this site and on our media channels.

 

BCH should not be completely ignored either.

 

After all smart money sure as hell didn’t ignore it this week.

 

Data from CoinGecko

 

BCH’s gains were 50% higher than Bitcoins were this week!

 

“But nobody uses it”.  Check the stats.  It’s also legal tender in one sovereign country (St Kitts and Nevis), just like BTC is (El Salvador).

 

Now Bitcoin Cash has been an abysmal investment compared to BTC ever since the fork initially occurred, no doubt about it.

 

But past performance is not indicative of future performance.  Things are changing now.

 

Desire for these transactionible cryptocurrencies will be on the rise from here on out.

 

And ones which have not been “corrupted” in the eyes of many will become that much more desirable.

 

Not to mention you get a much bigger piece of the overall pie when you buy LTC and BCH.

 

The max supply of LTC is 84 million (4x BTC), and BCH’s is 21 million (same as BTC).

 

I loved the idea of this play before the ETF filings ever came about, even though I knew they were coming eventually.

 

But I like the idea even more now.

 

 

— VP

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